President Barack Obama rejected a permit for the Keystone XL oil pipeline on Friday, a project proposed by the Canadian company TransCanada, widely criticized by organizations defending the environment. According to Obama, the pipeline, designed to carry oil from Canada to Texas, “would not make a meaningful contribution to our economy”.
Obama is in accordance with the decision taken by the Secretary of State, John Kerry, whose department was in charge of reviewing the project. The President also said Keystone would not lower gas prices for American consumers, since the average price of gas has fallen about 77 cents over a year ago, or ensure future energy supplies.
“America is now a global leader when it comes to taking serious action to fight climate change,” Obama said. “And frankly, approving this project would have undercut that global leadership.”
Read more and watch Obama’s speech: http://goo.gl/2xhH0u