US Energy and Mining Gets a ‘Bump’ from President Trump

US Energy and Mining Gets a ‘Bump’ from President Trump

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Thursday, President Trump on Thursday is signed an executive order that gives federal agencies emergency powers to fast-track major energy and other infrastructure projects by overriding environmental permitting requirements.

The order is billed as a way to “support and accelerate” the economic recovery from the impacts of the C-19 coronavirus chaos and improve US energy and other infrastructure, according to bullet points summarizing the order.

It calls for public works, highway and mining projects as well as energy projects like pipelines and terminals to be expedited, and instructs the Interior, Agriculture and Defense Departments to accelerate projects on federal lands.

President Trump has been a vocal advocate of fossil fuels as President and has sought to roll back regulations slowing their development and reduce state powers to block projects for environmental reasons.

Earlier this year, The Trump Administration proposed to streamline the National Environmental Policy Act (NEPA), an environmental regulation that creates time-consuming environmental reviews and public feedback requirements for major infrastructure projects.

The proposal is currently going through a public comment and review period.

Industry groups praised the order.

The National Mining Association said it will “support increased use of the vast domestic mineral reserves we have right here at home.”

Have a healthy weekend, Keep the Faith!

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Paul Ebeling

Paul A. Ebeling, a polymath, excels, in diverse fields of knowledge Including Pattern Recognition Analysis in Equities, Commodities and Foreign Exchange, and he is the author of "The Red Roadmaster's Technical Report on the US Major Market Indices, a highly regarded, weekly financial market commentary. He is a philosopher, issuing insights on a wide range of subjects to over a million cohorts. An international audience of opinion makers, business leaders, and global organizations recognize Ebeling as an expert.