I reviewed President Obama's speech last night, late, after meetings and calls. Yes, BP must escrow sufficient funds to keep the economy along the Gulf Coast from perishing or diminishing. The fact they have the resources to do this indicates the huge profit structure built into big oil. Good for them.
In addition, Mr. Obama, (pray daily for him and his family; for strength and wisdom for him and that he will stop smoking tobacco; for safety for Mrs. Obama and the children) is right in (timidly) calling for a national energy policy that promotes the production of safe, affordable, renewable energy that is also taxable. What we produce will have to be taxable, so we can sell it to other nations, and recoup much of the debt accumulated by American adventurism abroad. We are broke, in fact, and our national debt status should be about that of Greece. This will not work long term.
We should also be working right now to regain world leadership in the rare-earth materials, those elements at the bottom of the periodic table. We have plenty of them but we have bought them so cheaply from China it was not worth digging them up. Now, China is starting to ration the world supply, cutting its exports 30% over the last five years in one area; the little magnets that make your cell phone and your lap-top computer work. These are important because they also make your guided missile systems directional guides work.
There are plenty of resources left in America. If we do not kill the American spirit we can yet lead the world for generations to come.