The Obama Administration took some heat for the way it handled the oil spill, however, it has done several things in attempts to remedy the damages, including bans on off-shore drilling in the Gulf of Mexico, investigations of British Petrolium, compensation for fishermen, etc. who are economically damaged by the spill, and deploying teams to clean up the spill, such as the National Guard. If you want to catch up with the subject, this thread at the NY Times should help.
Obama has let the people who actually know something do their job. Although he is taking heat for the BP crisis and might risk his presidency over it, he is doing the right thing. BP has the only technology that could solve this crisis. However, he could force them to be a little bit more transparent on the issue.
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