Let's review. The project will provide "much-needed high paying jobs" in a time of excessive unemployment. That's good for the private sector. The project would also increase tax revenues. That's good for the public sector. It's good for small-government conservatives and big-government progressives alike. It is ready-made middle ground to boost employment and lessen public debt, no negotiation necessary.
Yet Obama will kill the project because environmentalist kooks don't like oil, and because they fear another accident might take place.