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President Obama to announce oil drilling plans scrapped, delayed

President Obama at a news conference today will discuss the findings of a 30-day safety review on offshore drilling.

According to an administration official he'll announce standards "to strengthen oversight of the industry and enhance safety." He'll also announce that a moratorium on permits to drill new deepwater wells will continue for a period of six months.

"In addition, the planned exploration off the coast of Alaska in the Chukchi and Beaufort seas will be delayed pending the (presidential) commission's review and the August lease sale in the Western Gulf will be cancelled. The lease sale off the coast of Virginia will also be cancelled due to environmental concerns and concerns raised by the Defense Department."

Interior Secretary Ken Salazar briefed Obama and senior advisors on the report Wednesday night in the Oval Office.