Republican claims about the benefits of the Keystone XL oil pipeline are greatly overblown, Senate Majority Leader Harry Reid (D-Nev.) said Sunday.

"It won't lower the price of oil. Construction won't be complete for a long, long time," Reid said during an interview on CNN’s State of the Union, referring to the proposed Alberta, Canada, to Texas pipeline. "And under the way it's constructed now, all the oil would be sold elsewhere. We can't have that. When I say elsewhere, I mean to some other country."

Reid also pointed to what he said were “many exaggerations about tens of thousands of jobs.”