President Obama Rejected The Keystone XL Pipeline Bid, See Why

by Benson Agoha | International

As expected, President Obama announced Friday, that he has rejected the Keystone XL pipeline project, after consultations with State Department, on economic grounds, saying it will not be in the interest of the United States.

He announced the decision at a press conference at the White House on Friday, flanked by his Deputy Joe Biden and Secretary of State John Kerry. 

President Obama said "Several years ago the state department began a review process for the proposed construction of a gas pipe line that will carry Canadian crude oil though our heartland to ports in the Gulf of Mexico and out into world markets."

"This morning, Secretary Kerry informed me that, after extensive public outreach and consultation with other key agencies, the State Department has decided that the Keystone XL Pipeline will not serve the national interest of the United States. I agree with that decision."

He said he has discussed with Prime Minister Justin Trudeau of Canada and that although he expressed disappointment with decision, they both agreed there are other areas like energy and climate change should provide the basis for even better bilateral cooperation between the US and Canada.

President Obama said the pipeline will not be a Silver bullet for the economy as promised by some nor the express line to disaster as proclaimed by others.

He clarified the reasons on which his decisions were anchored as:

1) that the project would not make a meaningful long-term contribution to the US economy and that it will not create as much jobs as can be generated through internal means. “If Congress is serious about wanting to create jobs, this is not the way to do it,” he said.

2) Keystone XL would not lower gas prices for American consumers. In any case, he said, gas prices are already falling..

3) That shipping dirtier crude oil into the US will not increase America's energy security, saying instead that the strategy, over the past years to invest in reducing fossil fuels and dirtier energy are yielding results.

He said US investments in cleaner energy is paying off and that today clean power from the wind or sun is finally cheaper than dirtier conventional power.

President Obama said the old rules that said America could not promote economic growth and protect the environment at the same time no longer holds.

He said the old rule that said we couldn't transition to clean energy without squeezing consumers. But this is America and the US now produces more oil than they buy from other countries.

He said US now even produces more oil than it buys from other countries. And that they are increasingly transitioning to clean energy, using wind turbines and solar energy "as we must transition".

The US President said America has created new technologies that break the old rules that had impeded growth, and home home grown clean energy is booming.

He said he was looking forward to meeting other world leaders in the next few weeks to explore ways to protect the `one planet that we have got while we still can', adding "I am optimistic about what we can accomplish together", seeing that America proves everyday that it can be done.

He said America knows how to do it and is "prepared to show the rest of the world the way forward."

* Watch the Fox News video here --> [ Obama rejects Keystone XL pipeline. ]

* Fox News