Orwell Spinning In His Oil-Free Grave

clipped from www.powerlineblog.com The Institute for Energy Research doesn't think so: This is a huge step backward for America's energy security. Prior to today's announcement, the vast majority of OCS areas were open for business. No longer. Today, while President Obama may have stated his support for increased energy development in the Eastern Gulf (which requires congressional action) and the Southern Atlantic (which he'll study over the next year), he also announced that he would delay the development of the energy resources off Virginia's coast and lock up vast resources off the Alaskan coast. Additionally, those who cheer the President's newfound support for domestic energy resources should remember that the very same President's FY 2011 budget proposal includes upwards of $36 billion in new oil and natural gas taxes Obama's announcement added up to: * Cancelled five lease sales off the Alaska coast that were planned over the next 2 years. One of the areas is estimated to hold up to 77 billion barrels of oil