Jon Stewart had a pretty good take-down of the president this week (starting around 4:39):
Whether or not there is more that the president can do, he needs to convince the American public that he is doing all that he can. Every classic story has a villain and a hero. We have a villain: BP and Big Oil. Now we need a hero. Especially if the computer models are correct (via Discovery News) or if a hurricane (or two) blow through the Gulf.