<p><br /> BP bosses face a mauling at crunch talks today after US President Barack Obama vowed to make the British oil giant pay for the Gulf of Mexico spill.<br /> </p><p><br /> Mr Obama used his first televised address from the Oval Office to accuse the company of recklessness and said he would order it to set up a fund to compensate victims and help the region's economy recover from America's worst ever environmental disaster.<br /> </p><p><br /> The president was speaking ahead of a crucial meeting with BP chairman Carl-Henric Svanberg and other top BP executives at the White House later.<br /> </p><p><br /> It comes after a ratings agency slashed the beleaguered firm's debt to near-junk status on Tuesday after scientists said far more oil was spewing into the Gulf than previously thought and US politicians called on BP to place up to $20 billion into a special account to deal with damage claims.<br /> </p><p><br /> Fitch's second downgrade for BP in less than two weeks leaves the blue-chip stock rated at BBB, the agency's lowest investment grade.<br /> </p><p><br /> Fitch said the company's estimate of clean-up and claims had soared to up to $6 billion, while fines could be as high as $8 billion.<br /> </p>
