Keystone XL Pipeline Would Benefit Economy

President Obama, citing the rushed decision deadline imposed by congressional Republicans as part of a recent payroll tax extension agreement, rejected a proposal to build an oil pipeline stretching from Canada to the Gulf of Mexico. The action has angered some lawmakers who say the Keystone XL Pipeline would create jobs and lower fuel costs, but was applauded by those concerned with the pipeline’s potential environmental consequences. Ted Gayer, co-director of Economic Studies, says the benefits of building the pipeline—through jobs and infrastructure—would outweigh the costs.