Today, President Obama Will Eliminate Hundreds of Thousands of US Jobs, Increase Dependence on Foreign Oil and Retard America's Economic Recovery

 Commentary:  Anyone who has reviewed the University of Alaska and National Association of Regulatory Utility Commissioners studies will realize that Barack Obama's expected action today--combined with other Moratoria actions earlier taken by Interior Secretary Ken Salazar--could further slow America's recovery and endanger national security!  This summer's Alaska exploratory program has successfully overcome huge obstacles...only by the dogged determination of Shell, the expenditure of billions of dollars, survival of a gauntlet of legal challenges and--finally--by the recent approval of federal regulators.  The Alaskan exploration would occur in about 150 feet of water, unlike the mile deep water column which is the subject of current Gulf of Mexico grief.  The Alaska exploration company, Shell, wrote a letter to the Department of Interior's Minerals Management Service explaining how -- in wake of the Gulf of Mexico tragedy -- its operations were 1) inherently safer and 2) supported by the addition of even more safety precautions than had been proposed.  The Administration, instead of carefully considering the differences in technology, location and precautions may over react and put the entire U.S. economy in jeopardy.   Your author is headed for the airport now and hopes that the President's press conference about to occur sets a more reasonable course of action.   -DH, 11:30 a.m. EST  (See Wall Street Journal, Washington Times, N.Y. Times)

ADN, by Steven Tomma.  The Obama administration today will suspend planned exploratory oil drilling in the Arctic Ocean off Alaska until at least 2011, a casualty of the Gulf of Mexico oil spill.  The suspension will be part of a report that Interior Secretary Ken Salazar will give to President Barack Obama, who's likely to address the suspension as well as other proposals stemming from Salazar's report, at a White House news conference today.  The move will stop Shell from drilling five wells in the Chukchi and Beaufort seas....  The move will stop for now a controversial expansion of oil drilling in a part of the world that could hold vast stores of oil and natural gas, but which environmentalists warn would come at great risk.  Despite a late appeal from Shell that it would employ new safety measures in the wake of the Gulf spill, Salazar was unconvinced that the exploratory drilling even in the much shallower waters of the Arctic would be safe.  "He is suspending proposed exploratory drilling in the Arctic," an administration official said on condition of anonymity to talk before Salazar's report is officially released today. "He will not consider applications for permits to drill in the Arctic until 2011 because of the need for further information-gathering, evaluation of proposed drilling technology, and evaluation of oil-spill response capabilities for Arctic waters."  Shell, which paid $2.1 billion in 2008 for the leases, had planned to start exploratory drilling in June or July.  The decision was met with a statement of deep unhappiness by U.S. Sen. Mark Begich (NGP Photo).  "I am frustrated that this decision by the Obama administration to halt offshore development for a year will cause more delays and higher costs for domestic oil and gas production to meet the nation's energy needs," Begich said Wednesday night ....  Begich said he would work with fellow Alaska Sen. Lisa Murkowski (NGP Photo), a Republican, the Interior Department and Alaska drillers to ensure operations would resume next year.  A spokesman for Shell said the company would issue a media response today. A spokesman for Murkowski said she would also respond today.