Bloomberg reports: Facing re-election and $4 a gallon gasoline, President Barack Obama sounded like an enthusiastic supporter of the Keystone XL pipeline at a March 2012 campaign rally.

“I’m directing my administration to cut through the red tape, break through the bureaucratic hurdles, and make this project a priority,” he said in a speech in Cushing, Oklahoma, referring to a southern leg of the long-delayed project.

Those days are gone. Now when Obama describes the next proposed Keystone segment he says it will only create about 300 jobs. He calls the Calgary-based pipeline builder TransCanada Corp. a “foreign company” and says the oil won’t benefit American motorists.

And last week, he even said the process of extracting crude from the Alberta oil sands is “extraordinarily dirty.”

After years of review, Obama may be finally nearing a decision on the $8 billion project. The State Department has restarted a review it had paused while a challenge to the pipeline’s route worked its way through Nebraska’s high court. And by vetoing Republican-backed legislation last month to force approval, Obama preserved for himself the final say. [Continue reading…]