Part two of a two-part series on the Keystone XL pipeline
Gas isn't like a rare bottle of wine that fetches a high price just because it's rare. But at the same time, no one can agree what drives gas prices. Demand for gasoline in the U.S. is at its lowest point in more than a decade; domestic oil production is at an eight-year high.
President Obama rejected an application to build the 1,700-mile Keystone XL pipeline from Canada to the U.S. Gulf Coast on Wednesday. He blamed congressional Republicans, who had set a 60-day deadline for his administration to complete its review of the project.
Just minutes after Obama issued a statement denying the permit, Republican members of Congress lined up before TV cameras.
"I'm deeply, deeply disappointed that our president decided to put his politics above the nation," said Rep. Lee Terry of Nebraska.