President Obama has vetoed a bill to approve construction of the Keystone XL oil Pipeline. It is unclear whether Obama will issue a permit for the pipeline in the future. According to Republicans and the energy industry, the $8 billion project would create jobs, boost the U.S. energy market while decreasing dependence on Mideast oil supplies.
The bill was first proposed more than six years ago but has been awaiting an authorized permit by the federal government because it would cross an international border. The recently vetoed plan for a pipeline would connect Canada's tar sands with refineries on the Texas Gulf Coast that specialize in processing heavy crude oil.
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