Political risks are higher now than any other risks to the U.S. oil and gas business. Presidential candidates and current members of Congress need look no further than Alberta to see how imprudent government actions can slow down oil and gas drilling-and threaten production, according to Larry Nichols, chairman and chief executive officer of Devon Energy Corp.

Nichols spoke to more than 700 attendees at the Developing Unconventional Gas conference in Fort Worth recently, presented by oil and Gas Investor and E&P. He warned about government interference in the industry and recounted how Devon became the largest player in the prolific Barnett shale.

On the political front, Nichols cited ...

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