Oil industry unbowed by Romney defeat

"If we're for the nation's oil and natural gas, infrastructure becomes a key part of it, like the Keystone XL pipeline," Gerard told reporters. "The next move is up to the president."

API itself did not advocate for either Romney or President Barack Obama, though it ran a multi-million Vote 4 Energy campaign urging voters to ask candidates to back oil and gas development.

Gerard, who donated to Romney and a number of Republican groups and candidates, was considered a potential appointee in a Romney administration.