CALGARY, Alberta, Oct 16 (Reuters) - The next U.S. president, regardless who wins the election, will likely put policies to cut greenhouse gas emissions on hold until the economy is on track, the incoming head of the oil industry's lobby group said on Thursday.

"Until the economy stabilizes ... I think there's going to be reluctance on the part of a lot of public officials to come rushing in and imposing additional challenges on industry that clearly will have an adverse, negative impact," Jack Gerard, incoming president of the American Petroleum Institute, told a business audience in Calgary, Alberta.

Democrat Barack Obama and Republican John McCain, the presidential hopefuls, have both said they plan policies to combat global warming by reducing carbon dioxide emissions in the world's largest economy.

But dealing with the financial meltdown has come to dominate debate in the campaign.

Gerard acknowledged "pent-up demand" for government action on greenhouse gases among the oil industry's environmental critics and some lawmakers as President George W. Bush nears the end of his presidency.

"The stability of our economy will say a lot about whether this really rises to be a top issue in the United States," Gerard added. (Reporting by Jeffrey Jones; Editing by Andre Grenon)

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