President Obama meets with BP chairman

WASHINGTON - (AP) - President Barack Obama says BP will set aside$20 billion to pay the victims of the massive oil spill in the Gulfof Mexico. Obama said the $20 billion will provide substantial assurancethat legitimate claims made by people and businesses in the Gulfwill be honored. The president also revealed in a statement at theWhite House that the British oil giant agreed to create a $100-million fund to compensate oil industry workers whose livelihoodshave been disrupted by the environmental catastrophe. Obama said the $20 billion is not a cap, adding that the peopleof the Gulf have his commitment that BP will meet all of itsobligations to them. He made his remarks after meeting with BPChairman Carl-Henric Svanberg.

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