People losing their jobs is the worst of the cancellation, otherwise, the segment of pipeline that was cancelled was superfluous and would be infrastructure NOT owned by a US company (a Canadian company). Trump fast tracked the most important part of the pipeline from Cushing, OK to the Gulf Coast which is built and in service. Cushing, OK is a central point for oil coming from the north (think Wyoming, the Dakotas, and Canada) with a high amount of refineries and storage where oil collects for storage and refining before being sent on down the line.

There is already a pipeline (US owned) that delivers Canadian tar sands oil (the product that Keystone XL was to deliver) by way of Illinois before ending up at the same point, Cushing, OK. The rest of the Keystone XL pipeline would provide a more direct path and technically offer more storage of oil, but it is not needed at this point from a broader economic impact perspective. The Keystone XL project at this point seems to serve propaganda talking points for the right and left, but the truth seems to be that it is not necessary other than to provide short term jobs for people.