BP will pay for its "recklessness"

"We will fight this spill with everything we've got for as long it takes. We will make BP pay for the damage their company has caused," Obama said in a televised address aimed at restoring Americans' confidence in his handling of the crisis before it further tarnishes his presidency.

Obama's stern message for BP, delivered in a somber tone, was a centerpiece of his high-stakes speech on the oil spill, which threatens to distract from his domestic agenda of reducing nearly double-digit U.S. unemployment and reforming Wall Street.

How forcefully Obama responds to America's worst ecological disaster will have implications not only for the British energy giant but for the future of U.S. offshore drilling.

Investors were looking for signs that Obama would try to jumpstart his push climate change legislation and alternative energy initiatives, like solar, wind and geothermal, that are now stalled in Congress.

Obama has made clear he supports a comprehensive energy bill that would reduce greenhouse gas emissions, and a senior administration official said the president still " believes that putting a price on carbon pollution is essential, Kazinform refers to China Daily.

See www.chinadaily.com.cn