Obama: U.S. Needs to Work Toward Renewable Energy

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.