Oil and Gas:

API chief Gerard talks Obama victory, climate legislation prospects

How will an Obama administration handle key energy policy issues like offshore drilling, oil company tax breaks and alternative fuels? During today's OnPoint, Jack Gerard, the new president and CEO of the American Petroleum Institute, gives his take on the effect President-elect Obama will have on the oil and gas industries. He also discusses next year's climate change talks, expressing uncertainty about a cap-and-trade bill.