President Obama yesterday dealt a fatal blow to the Keystone XL oil pipeline, ending a seven-year review period with a decision hailed by climate activists as critical in global efforts to address climate change. Stating that “America is now a global leader when it comes to taking serious action to fight climate change,” President Obama said that “approving this project would have undercut that global leadership.” The proposed project had been strongly backed by pro-industry Republicans and many Democrats in oil producing states like North Dakota. But environmentalists had sought to block the pipeline.
Rejection of the Keystone XL pipeline, which would have connected oil sand fields in Western Canada with refineries and ports in Texas and Louisiana. But the project became the focus of anti-climate change activists, who noted that the oil produced in Western Canada was among the most polluting in the world. For his part, President Obama’s rejection of the proposed pipeline was part of a broader effort to address global climate change, a key policy area for his final year in office. President Obama had previously announced new regulations to cut emissions from power plants across the country. And Bill McKibben, a noted American environmentalist, commented that the decision was a “turning point” in the fight against climate change and observed that “President Obama is the first world leader to reject a project because of its effect on the climate. That gives him new stature as an environmental leader, and it eloquently confirms the five years and millions of hours of work that people of every kind put into this fight.”
What do you think? Was President Obama’s decision to reject the Keystone XL pipeline project the correct one? What are the environmental implications of this decision? What are the economic implications of the decision? Would you have arrived at the same decision? Why?