*On Sunday White House advisor David Axelrod said President Obama will demand that BP create a special account with “substantial” reserves to pay Gulf oil claims and the he will take other steps aimed at aiding the region.
Also on Sunday, Coast Guard Adm. Thad Allen told “Face The Nation” that an outside contractor will run the account and handle claims more quickly than they are now.
“We’ve been very concerned about the claims process,” he said. “This is not a core function of an oil producing company.”
Other Gulf oil spill news items:
*President Obama, will again visit the Gulf Coast Monday and Tuesday, and plans an Oval Office address Tuesday night after his return. He meets at the White House with BP execs Wednesday.
*BP’s board is scheduled to meet Monday to discuss deferring its second-quarter dividend and putting the money into escrow until the company’s liabilities from the spill are known.
*The president will meet with BP execs, including the company’s chairman, on Wednesday.