Romney Out....

In a speech to be delivered at the CPAC meeting in Washington, Mitt Romney will announce that he is retiring from the field and will not continue his quest for nomination.
A.P. is reporting:

WASHINGTON (AP) - John McCain effectively sealed the Republican presidential nomination on Thursday as chief rival Mitt Romney suspended his faltering presidential campaign.

"If I fight on in my campaign, all the way to the convention, I would forestall the launch of a national campaign and make it more likely that Senator Clinton or Obama would win. And in this time of war, I simply cannot let my campaign, be a part of aiding a surrender to terror," Romney will say at the Conservative Political Action Conference in Washington.

Speech transcript here.
Excerpts follow:

Our prosperity and security also depend on finally acting to become energy secure. Oil producing states like Russia and Venezuela, Saudi Arabia and Iran are siphoning over $400 billion per year from our economy—that’s almost what we spend annually for defense. It is past time for us to invest in energy technology, nuclear power, clean coal, liquid coal, renewable sources and energy efficiency. America must never be held hostage by the likes of Putin, Chavez, and Ahmendinejad.....

Even though we face an uphill fight, I know that many in this room are fully behind my campaign.” You are with me all the way to the convention. Fight on, just like Ronald Reagan did in 1976. But there is an important difference from 1976: today… we are a nation at war ....

.... Barack and Hillary have made their intentions clear regarding Iraq and the war on terror. They would retreat and declare defeat. And the consequence of that would be devastating. It would mean attacks on America, launched from safe havens that make Afghanistan under the Taliban look like child’s play. About this, I have no doubt.

I disagree with Senator McCain on a number of issues, as you know. But I agree with him on doing whatever it takes to be successful in Iraq, on finding and executing Osama bin Laden, and on eliminating Al Qaeda and terror. If I fight on in my campaign, all the way to the convention, I would forestall the launch of a national campaign and make it more likely that Senator Clinton or Obama would win. And in this time of war, I simply cannot let my campaign, be a part of aiding a surrender to terror.