Obama Slams Oil Industry

File this under “too little, too late”? President Obama denounced the “ridiculous spectacle” of oil-industry officials trying to blame each other for the oil spill in the Gulf of Mexico, telling the American people he shared their “anger and frustration.” He promised to end the “cozy relationship” that the oil industry has enjoyed with its federal regulators. “This cannot and will not happen anymore,” Obama said. He also criticized the Minerals Management Service in charge of regulating the rigs: “It seems as if permits were too often issued based on little more than assurances of safety from the oil companies.”