[Updated at 3:10 p.m.] Obama directs Gulf Coast residents to www.whitehouse.gov for resources on filing claims regarding damages from the spill, noting that doctors and scientists are stationed across the Gulf to monitor the health of residents.
Obama vowed to hold BP accountable for clean-up efforts and financial compensation related to the underwater gusher but warned there are "no silver bullets" to stop the flow.
But, he said he ultimately takes responsibility for solving this crisis: "I'm the president, and the buck stops with me."
Addressing Gulf Coast residents directly, he promised, "You will not be abandoned, you will not be left behind. ... We are on your side, we will see this through."
[Updated at 3:00 p.m.] President Obama took the podium and said he met with Gulf Coast state governors, Coast Guard Adm. Thad Allen and others to discuss latest efforts to stop the leak and mitigate damages.
Obama said 20,000 people are working around the clock in "the largest spill in American history."
"This has already been the largest cleanup effort in U.S. history," Obama told reporters in Grand Isle.
[Posted at 1:10 p.m.] President Obama is in Louisiana Friday for the second time since an oil rig explosion sent a historic amount of oil gushing into the Gulf.
He is expected to make a statement to reporters after the tour.