Obama Slams BP, Other Oil Companies for Spill Blame Game

President Obama today said his administration is fully aware of the "seriousness and urgency" of the massive Gulf of Mexico oil spill, now in its 25th day, and pledged to hold all parties accountable for stopping the leak and cleaning up the mess.

"I saw firsthand the anger and frustration felt by our neighbors in the Gulf," Obama said. "Let me tell you, it is an anger and frustration I share as president."

VIDEO: Twenty-five days after the spill began, the president says hes fed up.

Obama made the remarks following a meeting with top administration and Cabinet officials to discuss the latest developments in the response effort and to determine the next steps.

"I'm not going to rest or be satisfied until the leak is stopped at the source, the oil in the Gulf is contained and cleaned up and people in the Gulf are able to go back to their lives and livelihoods," he said.

The president also made clear that some of his frustration stems from what he called a "ridiculous spectacle" earlier this week, when executives from the three companies responsible for the damaged rig engaged in finger-pointing before a congressional committee.

On Tuesday, Lamar McKay, chairman of BP America, told a Senate panel, "Liability, blame, fault -- put it over here," referring to Transocean and Halliburton executives sitting next to him.

VIDEO: Experts cannot agree on the amount of oil that has spilled into Gulf waters.

Each company has defended its own role in the rig operation, hinting that one of the other partners may be more to blame.

"The American people could not have been impressed with that display and I certainly wasn't," Obama said.

Oil Leak 10 Times Worse Than Thought?

Meanwhile, the gushing oil, seen in underwater footage of the uncapped pipe, poses a serious threat to the Gulf ecosystem and the region's tourism and seafood economy. The slick of crude oil floating on the ocean's surface has not grown noticeably in the last 10 days and has yet substantially to reach shore. It is expected to skirt the Mississippi delta this weekend.

VIDEO: BP looks for new ideas to stop the Gulf oil leak with an online suggestion box.

Scientists now speculate the scale of the leak could be as much as five to 10 times worse than projected by company and government officials.

Today, Coast Guard Adm. Thad Allen, who's been charged with leading the government's efforts on the spill, dismissed the importance of determining the rate of the oil flow at the bottom of the Gulf.

"I need to focus on the task at hand, which is the response," he told ABC News' Jeffrey Kofman. "If we get so focused on increments and changes and how much the change is when we already know we are planning for something much larger than that ... right now that is not an essential element of information for me to do my job."

Video of President Barack Obamas remarks on oil spill.

Allen compared the challenge at the bottom of the Gulf to the problems engineers faced during the Apollo 13 crisis, noting that the environment on the sea floor is a very different situation than spills like Exxon Valdez.

"We have no human access to the discharge point. Everything that is happening is happening at 5,000 feet in depth," he said. "Everything that we know is from remove vehicles that give us a two-dimensional video."

Still, video of the leak that BP reluctantly released this week has unleashed a torrent of speculation from scientists about the real volume of oil spilling out. For weeks, BP and the Coast Guard have said it is 5,000 barrels a day.

Steve Wereley, an associate professor at Purdue University, believes it could be much larger, a staggering 70,000 barrels per day.

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