Obama Administration Postpones Keystone XL Pipeline Decision

The U.S. State Department said it is delaying a decision on TransCanada Corp.’s Keystone XL oil pipeline to study an alternative route for the $7 billion project away from environmentally sensitive areas in Nebraska.

Evaluating a revised route will postpone a final ruling on the pipeline, which has drawn support from business groups and protests from environmentalists, until after the 2012 election.