Keystone and the trouble with US energy policy

Instead of promoting the development of clean affordable energy, the US regulatory process has led to a permitting system that is slow, arbitrary and hampers investment.

WASHINGTON (Reuters) - President Barack Obama's decision to block Keystone XL is an illustration of everything that is wrong with US energy policy.

There are strong arguments for and against the project. But leave them to one side for the moment ("This announcement is not a judgement on the merits of the application", according to Obama) to focus on the decision-making process itself.

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