The oil sector has the President’s full backing.
US President Donald Trump signed two executive orders on Wednesday with the expressed intent of accelerating the approval of domestic energy infrastructure projects. The bill was signed into law amid the applause of union workers at a training center in Crosby, Texas.
The two executive orders signed by President Trump are taking aim at the wait times and approval processes for major energy infrastructure projects. President Trump has taken a particularly hard viewpoint on the state of New York, which he accuses of “obstructing” a gas pipeline.
The first executive order will make it harder for states to block pipelines or other energy infrastructure projects over environmental concerns. In combination with the executive order, President Trump will order the Environmental Protection Agency to issue new guidelines, and to also push for compliance with changes to the Clean Water Act.
The president’s second executive order will streamline the process for infrastructure projects that cross international borders. This decision follows a previous decision by President Trump to issue a new permit for the Keystone XL pipeline.