The state department has decided that the pipeline won't serve the political interest of the president, and then made a whole lot of assumptions which the state department is absolutely unqualified to make or measure.
But hey, here's another gift to the next president: No need for department of energy, department of commerce, department of labor - it is all able to be handled easily by the gifted state department who can absolutely miss an Egyptian coup, bungle embassy security, reset Russian relations to near cold war levels, etc.