(AP, ABC7) Sarah Palin will not seek the Republican nomination for president in 2012, ABC News reports. In a letter to supporters obtained by ABC News, Palin writes that she reached her decision after "much prayer and serious consideration".

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"My decision is based upon a review of what common sense Conservatives and Independents have accomplished, especially over the last year. I believe that at this time I can be more effective in a decisive role to help elect other true public servants to office – from the nation’s governors to Congressional seats and the Presidency," Palin writes.

"I will continue driving the discussion for freedom and free markets, including in the race for President," the letter says. Among the issues she wants to pressure candidates to consider are energy independence, lowering taxes and reducing regulations.

Her announcement came one day after New Jersey Gov. Chris Christie said he would not run. Republican insiders say the field is set, including former Massachusetts Gov. Mitt Romney and Texas Gov. Rick Perry.