Actually, Bush had time to prepare for Katrina, but didn't. Obama, on the other hand, had people there the first day of the accident.
I wonder if CNN is reporting that the oil platform in question was run by Halliburton and that, as reported on the Daily Kos, an 'acoustic switch' would have prevented this catastrophe - it's a failsafe that shuts the flow of oil off at the source - they cost only about half a million dollars each, and are required in off-shore drilling platforms in most of the world...except for the United States. This was one of the new deregulations devised by Dick Cheney during his secret meetings with the oil industry at the beginning of Bush's first term.
The blowout valve that was installed and failed was manufactured by Cameron International. One look at Cameron's Board should tell you all you need to know. They're all Bush/Cheney contractor cronies, here and around the world.
What is the problem. Capping this well. Something is weird about not being able to stop the flow. Being in the business it's a no brainer. The goverment could have and should have blown it up. Very strang. Do you think the US goverment and Obama's chicgo still politic's say's let it flow. They can make alot of political hay out of this preventable disaster.