Oil and gas industry is urged to create self-regulating agency

08/19/2010 | Reuters

The Obama administration's special panel on the Gulf of Mexico oil spill could request that the oil and natural gas industry establish a self-regulating body to improve oversight of offshore drilling, said commission co-chairman Bill Reilly. An agency like the nuclear sector's Institute of Nuclear Power Operations would allow offshore operators to ensure their counterparts take responsibility, he added. "It's something the industry will be taking a look at and considering and seeing if there's an opportunity that could work down the road," said the American Petroleum Institute's Erik Milito.

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