President Barak Obama spoke live to the nation tonight, from the oval office, to address concerns which have arisen as a result of the Gulf of Mexico oil spill. The president outlined steps which his administration has already taken to handle the disaster and plans which his administration has put in place for the near future. Early on in his approximately fifteen minute speech Obama assured the nation that B.P. would be held responsible for the costs of the damage resulting from the spill. In his most forceful statement he said that B.P. would have to set aside a sum of money, managed by an independent third party, to pay out damages to injured parties. There will be more to come as reaction to the speech pours in.
John H. Armwood