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Mark Udall

Obama rejects Keystone as short on economic benefits, long on risk to climate

Obama rejects Keystone as short on economic benefits, long on risk to climate

President Obama announced Friday that he was rejecting the controversial Keystone XL oil pipeline project because it wouldn’t serve U.S. interests, dismissing its potential economic benefits as insignificant over time as he sought to close a long-running chapter in the political fight over global warming.

“For years, the Keystone pipeline has occupied what I frankly consider an overinflated role in our political discourse,” Obama told reporters at the White House. “It became a symbol too often used as a campaign cudgel by both parties rather than a serious policy matter.”

The pipeline began as a project nearly a decade ago to carry more than...

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