BP’s chief executive Tony Hayward has said it is “probably true” that his company should have been better prepared for the accident on the Deepwater Horizon drilling rig that has led to vast quantities of oil leaking into the Gulf of Mexico.

“It’s clear that we will find things we can do differently, capability that we could have available to deploy instantly, rather than be creating it as we go,” he said (Wall Street Journal).

Hayward also claimed that the oil leaks – which have yet to be brought under control – would not stop offshore drilling in the United States, despite suggestions from some politicians.

“Apollo 13 did not stop the space race. Neither did the Air France plane [crash] last year coming out of Brazil stop the world airline industry flying people around the world. It’s the same for the oil industry,” he says (Guardian).

Who is going to pay to clean up the mess is also becoming a hot topic. Transocean, the company that owned and operated the Deepwater Horizon rig, is planning to file a petition seeking to limit its liability to a relatively small $27 million, according to Dow Jones Newswires. AP says the company is relying on an 1851 law which states that the owner of a vessel that sinks is only liable up to the vessel’s value after the accident.

In related news, President Barack Obama has sent a package of legislation to Congress that would remove a current cap on BPs liability for spill-related costs. “The federal government will not relent in pursuing full compensation for the expenses it has incurred, and for damage caused by the spill,” says the White House.

So while the companies involved continue to blame each other for the spill, the lawyers are doubtless gearing up for a fight.

Video: oil and gas leaking from the riser of the Deepwater Horizon well on 11 May [hat tip: Deep Sea News].