The Obama Adminstration needs to put a lid - or cap - on it!
President Obama needs to step it up or the lack of a solution will erode America's confidence in his ability to take control of what will become the nation's worse environmental disaster since the Exxon-Valdez spill in Alaska. Have these oil companies learned anything since that debacle?  Did BP simply think it could avoid having a plan until disaster happened? Has the federal government learned anything? 
What the spill has revealed is that arrogant business executives have demonstrated that they really are no smarter than a fifth grader. How do these guys - yes, they're mainly guys - continue to hold their jobs - when if anyone of us make the slightest of mistakes in our jobs, we are likely to be given a pink slip.  Could you get away with telling your boss that you knew that something disastrous would happen one day, but you didn't have a plan to deal with it?
So, what's this mean for the president?  He's got to walk that thin line. If he proposes further regulations for the oil industry, he'll be accused of advocating heavy handed federal intervention. If he does nothing, he will be labelled an inexperienced president who doesn't know what he's doing. 
What he has to do is to spend everyday pushing the BP officials to clean this mess up. President Obama needs to have his aides lobby his congressional friends to pressure the billion-dollar company - and other oil companies - to reveal their disaster plans.  Does ExxonMobil have a plan if one of it's pipes burst?
For the billions in lost revenue to those hard-working fishermen, the president also must make a very quick decision to determine how those men, women and their families will be compensated.  If he could spend billions on Wall Street and auto industry bailouts, why can't he help out this industry?