There has been a lot of press recently about the Keystone XL Pipeline Project. President Obama has rejected the plan for now, to allow time for more thorough environmental review.
But the economics of the project are also in need of study.
As an engineer and national building industry consultant, I am familiar with the challenges of constructing projects, and also with the financial analyses that businesses make before building projects.
What concerns me is that the public is receiving only a small piece of the total story about this project -- a piece that benefits business but not necessarily regular Americans.
Because the Keystone pipeline would cross an international border, it requires federal permitting, as well as a review by the states the line would pass through.
Transcanada, the pipeline developer, says it needs this line to significantly increase its ability to move Canadian oil to U.S. refineries and markets.
Doing so, supporters say, would stabilize prices, increase national security by having this supply line in place and create more than 100,000 high-paying jobs.
Let's look at the rest of the story: