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Obama talks tough to oil companies

Obama talks tough to oil companies
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Oil companies have been told they will no longer have a free ride with regulators in the wake of the oil spill in the Gulf of Mexico.

President Barack Obama had harsh words for the companies involved in the continuing leak on the sea bed, accusing them of “falling over each other” to point the blame elsewhere. And he said future safety regulation would be tougher.

Speaking from the White House Rose Garden, Obama said:

“For too long, for a decade or more, there has been a cosy relationship between the oil companies and the federal agency that permits them to drill. It seems as if permits were too often issued based on little more than assurances of safety from the oil companies. That cannot and will not happen anymore.”

It was announced that the agency that regulates oil drilling will be split up so that the division that inspects rigs and enforces safety laws will be independent of the division that collects royalties from oil companies.