President Obama on Friday said building the Keystone oil pipeline would “not even have a nominal benefit” to consumers, pushing back at claims it would lower gas prices further.
Obama stressed that the issue at hand for Keystone is “not American oil, it is Canadian oil.”
“That oil currently is being shipped out through rail or trucks and it would save Canadian oil companies, and the Canadian oil industry enormous amounts of money if they could simply pipe it all the way down to the Gulf,” Obama said during his final press conference of 2014.
“It’s very good for Canadian oil companies, and it’s good for the Canadian oil industry but it’s not going to be a huge benefit to U.S. consumers, it’s not even going to be a nominal benefit to U.S. consumers,” Obama said.
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