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President Obama said Friday that he supports the State Department's rejection of TransCanada's proposed Keystone XL pipeline because it "would not serve the national interests of the United States," and turning it down helps solidify the United States' role as the global leader on climate change.

"America's now a global leader when it comes to taking serious action to fight climate change, and frankly, approving this project would have undercut that global leadership," Obama said Friday from the Roosevelt Room with Vice President Joe Biden and Secretary of State John Kerry standing behind him.

"As long as I'm president of the United States, America's going to hold ourselves to the same high standards to which we hold the rest of the world," he declared.

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