Was President Obama right or wrong to reject the Keystone XL pipeline?
Last week, President Obama denied approval of a permit to build the pipeline, which as proposed would have sent oil from Alberta, Canada's tar sands to Gulf Coast refineries. Obama said the "arbitrary" deadline set by congressional Republicans was not enough time to complete a review of the proposal for an alternate route that would not go through an ecologically sensitive area in Nebraska. TransCanada, the Canadian company seeking to build the pipeline, immediately said it would apply for another permit.
Is there a future for the Keystone XL pipeline once TransCanada seeks a new permit? What kind of repercussions will Obama's decision have on the domestic and global oil industries? Will the rejection help the country become less dependent on oil and more committed to renewable energy sources like wind and solar? What does this augur for congressional efforts to enact meaningful energy and environmental policy?