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March 09, 2012 at 14:59 PM EST
UPDATE 3-Exxon CEO says more fracking rules hinder development
* Complex regulation hinders energy development, economy * State, local regulation sufficient * Shell, Statoil CEOs more conciliatory about regulations By Kristen Hays HOUSTON, March 9 (Reuters) - State and local regulations in shale oil- and natural gas-rich plays across the United States provide sufficient oversight, compared to the "dysfunctional" federal layers that could hinder development as well as the economic recovery, Exxon Mobil Corp Chief Executive Rex Tillerson sa
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