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Capped Well Is 'Good News,' But Disaster Is Far From Over, President Obama Says

US President Barack Obama speaks on the

President Obama speaks in the Rose Garden of the White House in Washington. Mandel Ngan/AFP hide caption

itoggle caption Mandel Ngan/AFP

On the heels of BP's announcement that it has stopped the flow of oil from its blown-out well in the Gulf of Mexico, as the energy company collects data on the well's structural integrity, President Obama told Americans the disaster is far from over.

"We won't be done until we actually know that we've killed the well, and that we have a permanent solution in place," he said. "We're moving in that direction, but I don't want us to get too far ahead of ourselves."

Yesterday afternoon, the live video feed of the deep-water well looked markedly different: For the first time in several months, there was no longer a dynamic cloud of crude.

"I think it's important that we don't get ahead of ourselves," the president told reporters in the Rose Garden at the White House. "One of the problems with having this camera down there is that, when the oil stops gushing, everyone feels like we're done, and we're not."

The successful installation of the new containment cap was "good news," he said. Even if it doesn't stop the flow of oil permanently, it will allow BP to collect most of the spilling oil until the company finishes drilling a relief well.

According to the president, drilling on the relief well is slightly ahead of schedule.

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