How any American president could think twice about the benefits this pipeline would bring to both our countries beggars belief.
Think about it. This oil would displace Venezuelan oil now being imported into the gulf refineries. You get all the construction jobs. It would not cost the taxpayers a dime. 600,000 B/D might even have a downward effect on prices.
Think about how secure this supply would be. Canada would NEVER stop the oil. The reserves in the tar sands will last longer than the lifetime of the pipeline. The pipeline would be immune to terrorist attack, at least on the Canadian side. You get a supply of oil so secure you could sell off the SPR.
I do not subscribe to conspiracies. However, I think there is something deeper in this decision.