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President Barack Obama announced Friday that the administration has denied TransCanada's permit to construct the Keystone XL pipeline, ending seven years of deliberation and speculation that the White House would end it.

"Several years ago, the State Department began a proposed review process," Obama said. On Friday morning, the president said, Secretary of State John Kerry informed him that the pipeline "would not serve the national interests of the United States."

"I agree with that decision," Obama said, adding that he spoke with Canadian Prime Minister Justin Trudeau who expressed disappointment with the decision.

"It became a symbol too often used as a campaign cudgel used by both parties rather than a serious policy matter," Obama said.

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