U.S. says,Oil leak OK But BP must monitor for leaks for 24 hours

The cap was used to bottle up the oil last week, engineers have been watching underwater cameras and monitoring pressure and seismic readings to see whether the well would hold or spring a new leak.Oil and gas started leaking late Sunday, but "we do not believe it is consequential at this time," said retired Coast Guard Adm.At an afternoon briefing in Washington, Allen said BP could keep the cap closed at least another 24 hours so long as the company remains alert for leaks.

He’ll Push for Clean Energy Bill commented by Obama

President Obama said Wednesday that it was time for the United States “to aggressively accelerate” its transition from oil to alternative sources of energy and vowed to push for quick action on climate change legislation despite almost unanimous opposition from Republicans and continued skepticism from some Democrats. Mr. Obama promised to find the lagging votes in the Senate to get the climate change and energy bill passed this year. Last year, the House passed a version of the bill, which tries to address global warming by putting a price on greenhouse gas pollution and provides incentives for alternative clean energy sources. “If we refuse to take into account the full cost of our fossil fuel addiction — if we don’t factor in the environmental costs and national security costs and true economic costs — we will have missed our best chance to seize a clean energy future,” Mr. Obama said. “The votes may not be there right now, but I intend to find them in the coming months.”
“From our efforts to rescue the economy to health insurance reform to financial reform, most have sat on the sidelines and shouted from the bleachers,” the president said. “They said no to tax cuts for small businesses, no to tax credits for college tuition, no to investments in clean energy. They said no to protecting patients from insurance companies and consumers from big banks.”“Out-of-control Washington spending,” Mr. Cantor said, “has created a massive debt, private-sector businesspeople — small and large — are preparing for additional tax increases, and the government keeps on growing.”A day after disclosing that the federal government is conducting criminal and civil investigations of BP and other companies in connection with the spill, Mr. Obama did not directly criticize BP or the oil industry generally. A day after disclosing that the federal government is conducting criminal and civil investigations of BP and other companies in connection with the spill, Mr. Obama did not directly criticize BP or the oil industry generally.