Obama Administration to Reject Keystone Pipeline Route

Update: Read Obama's memo in full.
Update:

Why deny Keystone now? The reason a decision is being made today is that under the payroll tax deal reached last month, House Republicans gave President Obama 60 days to either approve or deny the pipeline. The administration had repeatedly said that's not enough time to conduct the necessary reviews. CNN

Update: Obama's statement:

This announcement is not a judgment on the merits of the pipeline, but the arbitrary nature of a deadline that prevented the State Department from gathering the information necessary to approve the project and protect the American people. I’m disappointed that Republicans in Congress forced this decision, but it does not change my Administration’s commitment to American-made energy that creates jobs and reduces our dependence on oil.

Update: These tweets from WestWingReport:

President, in a written statement, says he denied #Keystone application because a full assessment can't be done in time. He blames Repubs.

and

President says his #Keystone decision "is not a judgment on the merits of the pipeline, but the arbitrary nature of a deadline."

Read. Here's an explainer on the pipeline and why it's controversial.