Obama rejects Canada-to-U.S Keystone XL pipeline
WASHINGTON - U.S. President Barack Obama on Friday rejected the proposed Keystone XL oil pipeline from Canada in a victory for environmentalists who have campaigned against the project for more than seven years.
"The pipeline would not make a meaningful long-term contribution to our economy," Obama told a press conference. He said Keystone XL would not reduce gasoline prices for drivers, and that shipping "dirtier" crude from Canada would not increase U.S. energy security.
The denial of TransCanada Corp's more than 800,000 barrels per day project will make it more difficult for producers to develop the province of Alberta's oil sands. It could also put the United States in a stronger position for global climate talks in Paris that start on Nov. 30 in which countries will aim to reach a deal to slow global warming.
Secretary of State John Kerry, who determined that the pipeline was not in the country's interest before Obama's final decision, said approving Keystone "would significantly undermine our ability to continue leading the world in combating climate change."
READ MORE: http://www.msn.com/en-us/news/politics/oba...
"The pipeline would not make a meaningful long-term contribution to our economy," Obama told a press conference. He said Keystone XL would not reduce gasoline prices for drivers, and that shipping "dirtier" crude from Canada would not increase U.S. energy security.
The denial of TransCanada Corp's more than 800,000 barrels per day project will make it more difficult for producers to develop the province of Alberta's oil sands. It could also put the United States in a stronger position for global climate talks in Paris that start on Nov. 30 in which countries will aim to reach a deal to slow global warming.
Secretary of State John Kerry, who determined that the pipeline was not in the country's interest before Obama's final decision, said approving Keystone "would significantly undermine our ability to continue leading the world in combating climate change."
READ MORE: http://www.msn.com/en-us/news/politics/oba...
