US Chamber: Obama Should OK Keystone Oil Pipeline Now

President Obama should green-light the Keystone pipeline from Alberta to the Gulf Coast without delay, the president of the U.S. Chamber of Commerce said Thursday.

"There is no legitimate reason, none at all, to subject it to further delay," Donohue said in his annual address on the state of business and the economy.

Republicans and industry groups have pummeled Obama in recent months over the proposed pipeline, which would carry Canadian oil sands crude from Alberta to refineries along the Gulf Coast. They say the pipeline would create thousands of jobs and reduce U.S. dependency on oil from unstable countries overseas, but green groups warn it could be an environmental disaster.

Under a provision included in the payroll tax cut package, Obama has 60 days to make a final decision on the pipeline. The deadline has set off an aggressive lobbying campaign by environmentalists and business groups that underscores the politically thorny decision facing the president.

Obama had sought to delay a final decision on the pipeline until after the 2012 election, but the payroll tax package provision requires a final verdict by Feb. 21.

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[The Canadians made it clear they plan to sell the oil to China if the US doesn't commit to the pipeline soon. --Editor]