Obama rejects proposed Keystone XL oil pipeline

US President Barack Obama has rejected the proposed Keystone XL oil pipeline from Canada. ‘The pipeline would not make a meaningful long-term contribution to our economy,’ said Obama, adding that it would not reduce gasoline prices or increase US energy security. Keystone XL would have linked existing pipeline networks in Canada and the US to bring crude from Alberta and North Dakota to refineries in Illinois and the Gulf of Mexico coast. Environmentalists have strongly opposed the project since it was first announced in 2008.