BP assumes responsibility for the Gulf Oil Spill

Obama on Sunday labeled the spill a “potentially unprecedented environmental disaster” as he stopped off in the fishing hub of Venice on to show solidarity with Louisiana’s threatened coastal communities.

Rain running down his forehead as he spoke, Obama stressed BP was the responsible party as he acknowledged the pain of Louisianans in a strong display designed to show he was side-by-side with the victims of the disaster.

“The oil that is still leaking from the well could seriously damage the economy and the environment of our Gulf states. And it could extend for a long time. It could jeopardize the livelihoods of thousands of Americans who call this place home.”

Louisiana’s 2.4-billion-dollar a year commercial and recreational fishing industry was dealt its first major blow from the oil spill during Obama’s visit when the US government banned activities in some areas for at least 10 days due to health concerns.

“Balancing economic and health concerns, this order closes just those areas that are affected by oil,” said US government weather agency administrator Jane Lubchenco. “There should be no health risk in seafood currently in the marketplace.”

In a round of appearances on morning television and radio news shows, BP Chief Executive Tony Hayward accepted responsibility for the cleanup and said the company would pay compensation for legitimate claims for property damage, personal injury and business losses.

“We are responsible, not for the accident, but we are responsible for the oil and for dealing with it and cleaning the situation up,” Hayward said.

The original accident took place April 20 on a deep-water rig operating about 130 miles southeast of New Orleans. The rig sank two days later, and 11 were believed dead.

Oil began leaking from the wellhead, pouring at least 5,000 barrels of oil into the gulf waters, though some estimates have place the flow from three leaks at much more. The leading edge of the oil has reached Louisiana wetlands and is expected to make landfall in the next days.

“We will await all the facts before drawing conclusions, and we will not speculate,” a spokesman for Transocean said.