Los Angeles County - News from Nov. 14, 1994

Petroleum Industry Meeting: The American Petroleum Institute, the Washington-based umbrella trade organization of the U.S. oil and natural gas industry, continues its two-day annual meeting today at the Century Plaza Hotel in Century City. The meeting, which is being held for the first time in Los Angeles, is traditionally attended by the top executives of energy companies large and small. In formal panel discussions, executives, analysts and guests, including Carol M. Browner, administrator of the U.S. Environmental Protection Agency, will discuss the economic outlook for the petroleum industry. The talk in the hallways will undoubtedly be of the implications for the industry of last week’s elections and the dramatic gains by the Republican Party. Industry leaders have been highly critical of environmental and political restrictions on exploration in such areas as Alaska’s Arctic National Wildlife Refuge and the waters off California. The industry has also been undergoing a painful contraction to accommodate the current low oil prices.