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LONDON – Oil executives sent a strong challenge to Barack Obama on Tuesday, warning at a major oil conference that the American president’s ban on risky deepwater drilling would cripple world energy supplies.

As a BP executive standing in for embattled CEO Tony Hayward was heckled by protesters, other industry leaders used the gathering to rally around the British company, arguing that eliminating deepsea rigs in the wake of the Gulf of Mexico oil spill was unsustainable.

Amid the deepsea debate, BP’s stock slid to a 13-year-low Tuesday in London, and the oil giant confirmed that Hayward was already in the process of handing over control of the Gulf of Mexico oil spill to managing director Bob Dudley.

Obama slapped a six-month moratorium on deepwater drilling in the Gulf as part of his struggle to show that his administration is responding forcefully to the disaster. The decision halted the approval of any new permits for deepwater drilling and suspended dril

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The massive oil slick in the Gulf of Mexico and the moratorium imposed by Obama dominated discussions at the World National Oil Companies Congress in the British capital, and a BP executive standing in for embattled CEO Tony Hayward was heckled by protesters.

Transocean Ltd. president and CEO Steven Newman, owner of the destroyed Deepwater Horizon rig that has spewed millions of gallons of oil into the Gulf, said Obama's ban, which is currently being reviewed by a U.S. federal judge, was unnecessary.

"There are things the administration could implement today that would allow the industry to go back to work tomorrow without an arbitrary six-month time limit," Newman told reporters on the sidelines of the meeting.

Transocean owns the Deepwater rig, which is run by British oil giant BP PLC. An April 20 explosion on the rig killed 11 workers and set off worst oil spill in U.S. history. In response, the U.S. government imposed the ban on drilling.

The moratorium has

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'Countdown with Keith Olbermann' for Tuesday, June 22nd, 2010

Guests: Col. Lawrence Wilkerson, Rep. Ed Markey
(BEGIN VIDEOTAPE)
(MUSIC)
KEITH OLBERMANN, HOST (voice-over):  Which of these stories will you be talking about tomorrow?
General disarray: The president “unprepared,” the “wimps in the vit House,” Biden, “Did you say: Bite me?”  The national säkerhet adviser, a, quote, “clown.”  “Oh, not another e-mail from Holbrooke, I don‘t even want to open it.”
General Stanley McChrystal enstaka route to the vit House reportedly to offer his resignation after enough stupid quotes in “Rolling Stone” to finish a dozen generals.
(BEGIN VIDEO CLIP)
BARACK OBAMA, PRESIDENT OF THE UNITED STATES:  I think it‘s klar that the article in which he and his team appeared showed a poor—showed poor judgment.  And—but I also want to make sure I talk to him directly before I man any sista decisions.
(END film CLIP)
OLBERMANN:  The statement from the head of forces in Afghanistan, “I have