As has been the case throughout the project’s history, however, economic forces alone will not determine its prospects. Political, commercial, environmental and even diplomatic factors will also play a role.
The Keystone XL was originally planned to open in 2012. It was designed to send up to 830,000 barrels a day of Canadian and North Dakota crude to Steele City, Neb., where it would connect with an existing network to deliver the crude to refineries on the Gulf of Mexico. With domestic supplies already abundant, most of the refined oil would probably be sent on to other countries. It might also make some American oil available for export.
The project would yield thousands of construction jobs — accounting for…