WH: BP will have to pay to compensate for economic effects of oil spill

While the oil rig wasn't BP's equipment "our responsibility is the oil, and the responsibility is ours to clean it up and that's what we're doing," BP CEO Tony Heyward said Monday morning on NBC's "Today Show." 

Heyward wasn't asked about the overall economic impact of the spill. 

The White House is helping set up a system between the oil company and Gulf coast business owners and to ensure they are reimbursed for their losses, he said.