WASHINGTON – President Obama on Friday downplayed the potential benefits of the Keystone pipeline, claiming it would not lower gas prices much for Americans — but instead would boost Canadian oil companies.
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.”
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