President Barack Obama announced he is appointing Michael Bromwich, formerly of the U.S. Justice Department, as head of the Minerals Management Agency, which he criticized for favoring deregulation of oil-drilling operations. Americans need to work together to develop and advance renewable energy and seek a move away from fossil fuels, he said, and he has worked since his presidential campaign to promote clean energy.

It's a transition he acknowledges as costly.

"There are some who believe we can't afford this right now," he said. "I say we can't afford not to change."

With a prayer for the Gulf region, he ended his speech.