Obama Administration Says "No" To Keystone XL Pipeline

After years of research and consideration, the Obama administration said "no" to TransCanada's application to build the Keystone XL pipeline from Canada to oil refineries in the southern region of the United States.

After seven years of reviewing the project, Obama announced his decision -- ending one of the biggest environmental question marks of his presidency -- from the Roosevelt Room in the White House.

"The State Department has decided that the Keystone XL pipeline would not serve the national interest of the United States," he said. "I agree with that decision."

Tensions over the proposed pipeline had been high for years, with Obama's environmental base pressuring him to reject the project -- citing its impact on emissions -- and Republicans in Congress voting repeatedly to force its approval, citing the economic boost it would provide.

The president's rejection rests on key points highlighted by the State Department: That the pipeline would not contribute significantly to the economy, and that it would not lower gas prices for American consumers. Over the last year gas prices have steadily dropped in the U.S., due to an oversupply in the market.

"Shipping dirtier crude oil into our country would not increase America's energy security," Obama said.

Many Americans were led to believe the pipeline would help make the US more energy-independent, but the fact of the matter is there was no guarantee that oil traveled via the pipeline would stay in this country once refined.