US President Barack Obama vowed Tuesday his administration would work "overtime" to mitigate the economic damage to the US Gulf Coast from the huge oil spill but warned of a "significant challenge."

"We are committed to preventing as much of the economic damage as possible by working to contain the impact of this potentially devastating spill," Obama said, in remarks to the Business Council in Washington.

"In addition, wherever possible, I would like to see the people most affected by the disaster helping in the cleanup," Obama said, as US officials and rig operator BP engaged fishermen to help limit the spread of the spill.

"We will continue to explore every possible option to create jobs and support local economies in the Gulf, while continuing to monitor any potential effects on the national economy," Obama said.

"But obviously there's going to be a significant challenge, and we are going to be working overtime to make sure that we mitigate its impacts."

Obama warned on Sunday during a visit to the Gulf Coast that the area, a haven for wildlife, as well as the location of lucrative fishing grounds and tourist beaches, might be facing an unprecedented environmental disaster.

BP, operator of the Deepwater Horizon rig that exploded last month triggering the massive oil spillage, has been put on notice by the US government that is liable under US law to pay for cleanup and compensation costs.

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