Mike Allen's Playbook previews Obama's Oval Office speech tonight. A White House official tells Allen that the President will lay out plans for clean-up operations, the economic claims process, and tighter regulation followed by a discussion of "what our fundamental energy approach must be going forward to reduce our dependence on oil and fossil fuels."

ABC's The Note links to a Politico story about how midterm election concerns are sapping support for an energy bill.

The Daily Beast's Cheat Sheet notes the Associated Press' chronicle of the cost-cutting measures BP took before the oil spill, leading one BP engineer to refer to Deepwater Horizon as a "nightmare well." BP CEO Tony Hayward will appear before a House subcommittee on Thursday.

Chris Cillizza's Morning Fix ponders how Obama's plans to campaign for Harry Reid could help or harm the Senate majority leader. "In an April Mason-Dixon poll conducted for the Las Vegas Review Journal, 41 percent of Nevadans regarded Obama in a favorable light, while 46 percent viewed the president unfavorably," Cillizza writes. "Whether or not Obama is actively supportive of his candidacy Republicans will work to tie the two together," so why not drive the conversation?

Ezra Klein's Wonkbook cites Politico's report of a campaign finance deal the Democrats have brokered with NRA-supporting moderates. In order to push the DISCLOSE act through the House, Democrats will include language that exempts the NRA from new disclosure rules.