It’s not quite time for business as usual yet. President Obama plans to extend the moratorium on new deepwater oil drilling permits for six months, buying some more time for a presidential committee to investigate the fallout of the Gulf oil spill. As a sign of Obama’s taking greater control of the situation, lease sales off the coast of Alaska, Virginia and in the Western Gulf will all be canceled. The measure is a result of a far-reaching safety review of offshore drilling conducted over the last month by Interior Secretary Ken Salazar.
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