SAN FRANCISCO — In her first speech to a hometown audience since taking the speaker’s gavel, Rep. Nancy Pelosi called for a quick end to the Iraq war and for legislative action against oil companies enjoying “obscene profits.”

Speaking at breakfast held annually to commemorate the birthday of Martin Luther King Jr., Ms. Pelosi said Democratic lawmakers have rejected President Bush’s plan to increase the American military presence in Iraq by about 21,000 troops.

“It’s wrong,” Ms. Pelosi told her liberal constituents, who are largely against the war. “Democrats oppose the escalation of the war.”

The House speaker also warned Mr. Bush yesterday against proceeding with the so-called surge, despite the opposition of large numbers of lawmakers and, according to polls, a majority of Americans.

“The Constitution gives the president certain authority, in fact a great deal of authority when it comes to waging war. And Congress also has its role. Neither of us should abuse our power, but we in Congress will hold the president accountable,” Ms. Pelosi said. “He should not overuse his power and we must exercise oversight over his use of that power.”

Ms. Pelosi’s speech was short on specifics about what Congress will do if Mr. Bush presses forward with his plan to grow the American presence in Baghdad. The ambiguity was a reflection of divisions among Democratic lawmakers about whether to attempt to cut off funding for the troop increase.

The speaker’s remarks appeared to be a rebuttal to Mr. Bush’s statement, in a “60 Minutes” interview broadcast Sunday, that he has the authority to proceed unilaterally with a troop buildup, despite congressional objections. “I fully understand they could try to stop me from doing it. But I made my decision, and we’re going forward,” Mr. Bush said.

The president also said he thought the public would react negatively to such a move by Congress. “I believe if they start trying to cut off funds, they better explain to the American people and the soldiers why their plan will succeed,” Mr. Bush said.

Ms. Pelosi also rejected Mr. Bush’s claim that Democrats have offered no alternative to stabilize Iraq if American troops pull out.

During her 15-minute speech, Ms. Pelosi vowed that a measure to strip subsidies from oil companies will be one of the measures the Congress will pass as part of the Democrats’ agenda for their first 100 legislative hours.

“They’re making record profits — historic, obscene profits, and we’re giving them incentives to drill,” Ms. Pelosi said. “Remove those incentives and use that money for research in alternative energy to make America energy independent.”

The breakfast is organized by African-American community leaders and labor unions. Labor activists gave Ms. Pelosi a raucous ovation when she promised that the Congress will pass a bill to require employers to recognize unions through a “card check.” The method is favored by labor activists, but does away with the usual secret ballot on unionization. “It is high on the Democratic agenda,” she said.

Governor Schwarzenegger, who has clashed repeatedly with labor groups, delivered a perfunctory, three-minute speech paying tribute to King. The governor got a cool reception, though some in the crowd seemed inclined to cut him some slack. The normally swashbuckling ex-actor is on crutches and medication after breaking his leg skiing last month.

With some prompting from a former San Francisco mayor and legislative leader, Willie Brown, Mr. Schwarzenegger plugged a plan he recently unveiled to require health insurance for all Californians. “It is inexcusable that this state has not yet managed to insure everybody,” he said. “There is, I think, a great vibration in the Capitol, a great feeling that even though it was always ‘dead on arrival,’ any kind of reform on health care, I think that this year there is a feeling that we will get it done.”

Mr. Schwarzenegger noted that in the country of his birth, Austria, universal health insurance is taken for granted. “I think it’s a cultural thing,” he said, calling himself “a fanatic” on the issue.