Obama Explains Why He "Rejected" Keystone XL Pipeline Days After Transcanada Withdraws Application - Live Feed

After seven long years, and following the State Department's denial of TransCanada’s request to suspend its permit application, the Obama Administration, according to The Wall Street Journal, is set to reject the Keystone XL Pipeline (the controversial project to link oil sands in Alberta to U.S. Gulf of Mexico refineries). Speaking from The White House shortly, President Obama is expected to cite the urgency of climate change as a key reason behind his decision (though is unlikely to name the biggest winner from this decision..).


Live Feed (Obama is due to speak at 1145ET)...


If you liked your Canadian Oil Sands, you can keep it...


As The Wall Street Journal reports,

The Obama administration will reject the Keystone XL pipeline, according to people familiar with the decision, capping a politically charged review of the oil project that lasted more than seven years and escalated into a broader debate on energy, climate change and the economy.


President Barack Obama is expected to cite the urgency of climate change as a key reason behind his decision, these people said.


Mr. Obama, who has made environmental issues a centerpiece of his second term, had signaled deep misgivings about the pipeline project as he pursued an expansive agenda aimed at fighting climate change. He said repeatedly that the pipeline would create few jobs and would fail to lower gasoline prices, while exacerbating climate change.

And previously noted,

Interviews suggest TransCanada fumbled its U.S. push for the project by pursuing a politically naive public-relations strategy over the past seven years. Those interviewed said TransCanada followed a playbook that no longer works in Washington, where regulatory approvals can get caught up in ideological conflicts.


Democratic presidential candidate Bernie Sanders urged President Barack Obama to reject the pipeline ahead of the Paris climate talks set for later this month, The Hill reports.

And the winner is...


With BNSF!!