BP's Response to the Gulf Oil Spill

OK, I'm jumping into the fray here.

So BP has turned the Gulf of Mexico into a cesspool. And thus the states bordering the Gulf. And the response from the United States has been appalling.

But I have a question - a question that appears to not have been asked yet:

Can the British Government do anything about a company that has its roots from that country? Or is that too much of a long shot?

Should we all be checking out the BBC rather than CNN for the latest news?