President Obama told a group of House Republicans at a closed-door meeting on Wednesday that the long-delayed Keystone XL pipeline won’t profit anyone but Canada.

Rep. Lee Terry, R-Neb., told the Associated Press that Obama said the benefits of the project have been overstated because many of the jobs created would be temporary, and much of the oil produced from the pipeline would be exported.

“He said there were no permanent jobs, and that the oil will be put on ships and exported and that the only ones who are going to get wealthy are the Canadians,” Terry said.

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