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Calling it a “ridiculous spectacle, ” President Obama chided BP, Transocean, and Halliburton for their “falling over each other” to blame each other for the massive Gulf oil spill during hearings on Capitol Hill.

Announcing his proposal for legislation to regulate oil leases and improve safety measures, Obama said that stopping the mile-deep gusher is job number one.  He assured the public that BP will be responsible for clean-up expenses and not the taxpayer.

Obama is asking Congress to toughen the law on the Federal regulating agency which he feels has a conflict of interest with oil because of leasing fees which they collect.  Obama also seeks Congress to allocate assistance to those who have lost their jobs,  and for job re-training, because of the spill.

The latest assessments indicate that the gusher is worsening.  Original assessments were about 5,000 barrels of oil a day entering the Gulf of Mexico.  Some experts are now saying that the oil is gushing up to three times that amount.

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