Given new Congress, Obama may rely on regulation, not legislation: API CEO

Houston (Platts)--11Nov2010/503 pm EST/2203 GMT

With Republicans now in control of the US House of Representatives and a narrower Democratic majority in the US Senate owing to the midterm elections, the administration of President Barack Obama is likely to rely more heavily on executive and regulatory powers to move its agenda forward, the president and CEO of the American Petroleum Institute said Thursday.

"We can expect far fewer legislative initiatives that don't have broad bipartisan support," Jack Gerard said at the start of the 70th annual general meeting of the International Association of Drilling Contractors.

But House Republicans can be expected to start drafting their legislative programs as soon as possible, "including front and center, the [fallout from] the deepwater drilling moratorium and ongoing regulations" by the Environmental Protection Agency, Gerard said.

Congressional members up for election in 2012 will be focused on jobs, the economy and government spending, he said.

"Those can help industry reinforce industry's basic messages that a strong domestic oil and gas industry is an important driver of job growth and key for energy security," he added. --Starr Spencer, starr_spencer@platts.com

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