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Obama: Canada, not America, benefits most from Keystone XL Pipeline

In what has to be one of the most ignorant economic arguments to date, President Barack Obama told Americans that Canada would benefit most from the U.S. building the Keystone XL pipeline, which spans several U.S. states. Fox News reported [1] the following:

“Obama, who was speaking at a year-end news conference, said the controversial pipeline was not “a magic formula to what ails the U.S. economy” and added that it’s “hard to see on paper where exactly they’re getting that information from.”

The president often downplays the economic benefits of the project, but appeared to be putting new emphasis Friday on claims that it would disproportionately help Canada. He said it would be “not even a nominal benefit for U.S. consumers.””