This is pretty huge in the environmental world. For the first time, an American President, who by the way controls the majority of the worlds resources and thus the resulting pollution, has decreed that oil must go.
In this classically obama-esque speech, he charges British Petroleum with the entire cost of the rehabilitation of the effected regions, as well as set up an oil-watch dog to regulate oil companies!
This is a big step in having governments around the world realize that our way of life has to change. This goes much beyond simply getting us off our oil addiction, but percolates down into intensifying everything green, from local food to recycling.