According to a March 31, 12:18 a.m. Reuters report picked up in Anchorage at 9:18 p.m. on March 30, an administration official said President Barack Obama’s planned announcement for later Wednesday morning will be to cancel proposed oil and natural gas leasing in Alaska's Bristol Bay Outer Continental Shelf and cancel pending OCS oil and gas lease sales for the Chukchi and Beaufort seas.
Reuters reported that the Chukchi and Beaufort will be “reserved for future scientific research to determine if they are suitable for further leasing.”
A previously scheduled lease sale in Alaska's Cook Inlet will proceed.
The Obama administration, however, is going to approve “exploration for oil and gas off the coast of Virginia as a way to create jobs and reduce U.S. dependence on foreign oil,” Reuters reported.
Editor’s note: More information will follow after the president and Interior Secretary Ken Salazar make their announcements about offshore leasing.