The President has spent a lot of rhetorical energy (what other kind is available in the White House?) on how the GOP's deregulatory changes are at the roots of the Gulf oil disaster.
BP is a British company and not subject to American regulations. The disaster occurred in international waters, where United States law and regulations do not apply.
If you're going to blame someone, start with the right country of origin and location, Mr. President.
The last three major offshore disasters, off Nova Scotia in the 70s, and off Scotland in the 80s, and this one, were all BP. Better talk to the Labor Party's leaders, or to the current British PM. No American rig has been involved in a disaster since Santa Barbara in 1969.