Yeah. My first reaction is that this is great news, but as you say, the oil may now come from Brazil, Iran, etc. On the whole, I think it's a win for the environment, but I would like to see a detailed analysis of the predicted effects of this decision on oil exploration, extraction, and consumption.

I do feel a bit sympathetic for the company driving this project. They invested billions of dollars and over a decade of time only to see the project killed at the last minute. This is a consequence of our erratic and unpredictable political system - every four years we seem to completely change energy policy. It's the price of our democracy, but I'm sure it's frustrating for CEOs.

Edit: It's frustrating to see the parent comment get downvoted. If you disagree, explain why in a comment - no need to bury a perfectly reasonable perspective.