Demonstrators carry a giant mock pipeline while calling for the cancellation of the Keystone XL pipeline during a rally in front of the White House in Washington November 6, 2011.
Bowing to pressure from environmental groups, President Obama on Wednesday rejected a permit application by TransCanada that would have allowed construction to begin on the 1,700 mile Keystone XL pipeline.
The pipeline would run from Alberta, Canada to refineries in Texas and would have directly created 20,000 jobs for Americans and brought over 700,000 barrels of oil per day. The Canadian Energy Research Institute estimates that current pipeline operations and the addition of the Keystone XL pipeline would create 179,000 American jobs by 2035.
Heritage Foundation energy expert Nick Loris finds the President’s delay “stunning but not unexpected”.
At a time when unemployment remains unacceptably high, Iran is threatening the Strait of Hormuz, and Canada is looking to take this oil elsewhere, it is difficult to understand how the President could say no to thousands of jobs and an increase in energy supply from our ally.
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