Obama nixes Keystone XL Pipeline

President Barack Obama rejected the permit for TransCanada Corp.'s Keystone XL pipeline, which would have stretched from Canada to Texas.

President Barack Obama rejected the permit for TransCanada Corp.'s Keystone XL pipeline, which would have stretched from Canada to Texas.

President Barack Obama on Wednesday denied a permit for the Keystone XL Pipeline, which would transport oil from Canada’s tar sands to refineries on the Gulf Coast.

The president earlier had said he would not make a decision on the project until 2013, in order to allow time to review an alternate route that would avoid an environmentally sensitive area of Nebraska.

Legislation that extended the payroll tax cut, however, required him to make a decision on the project by Feb. 21.

Obama said “the rushed and arbitrary deadline insisted on by congressional Republicans prevented a full assessment of the pipeline’s impact, especially the health and safety of the American people, as well as our environment.”

As a result, he was forced to deny TransCanada Corp.’s application for a permit.

“This announcement is not a judgment on the merits of the pipeline,” he added.

“It does not change my administration’s commitment to American-made energy that creates jobs and reduces our dependence on oil,” he said.

TransCanada, the company that wants the build the pipeline, could reapply for a permit using the alternate route through Nebraska.

Read more in the Washington Business Journal.

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