“任何个人或企业，如果在美国投资10亿美元或更多的，都将享有全面加急的批准和许可，包括但绝不仅限于所有环境方面的批准。准备好马到成功吧！！！”Trump posts that the expedited approvals and permits include but are not limited to environmental aspects. Comments suggest that fast tracking may help him achieve his goal of increasing Oil & Gas development and reducing regulations, which is what he referred to as "we need to drill" during the October campaign.
With just over a month before taking office as the President of the USA, Trump has already made public statements to attract wealthy investors, specifically to relax regulations and approvals in the Energy sector.
On December 10, Tuesday, Eastern Time, Trump posted on his Social Media platform Truth Social, promising that any individual or business investing at least 1 billion dollars in the USA will receive expedited approval from his administration. The post stated:
"Any individual or business investing 1 billion dollars or more in the USA will enjoy comprehensive expedited approvals and permits, including but not limited to all environmental approvals. Get ready to succeed immediately!!!!"
Trump's post did not specify what measures the new administration would take to help investors obtain fast-tracked approvals. Some commentators believe that any efforts for expedited approvals by government agencies could face obstacles at the state and local government levels in the USA.
However, Trump's latest promise aligns with his previous consistent statements. He has indicated a need to boost Investment in Energy, infrastructure, and other domestic sectors during his second presidential term, as well as to eliminate regulatory measures that Republicans view as hindering economic development.
On the day Trump posted, Tuesday of this week, the Supreme Court of the USA was hearing arguments about whether to limit the jurisdiction of the National Environmental Policy Act (NEPA) concerning certain indirect environmental impacts. It remains unclear whether Trump's post is related to this case.
As one of the most fundamental environmental laws in the USA, NEPA requires federal government agencies to first conduct environmental reviews before approving energy production and infrastructure projects such as pipelines and highways. Many companies and lobby groups have long complained that such environmental reviews take too long and cause significant delays and costs for projects.
William Buzbee, a law professor at Georgetown University, commented that the President of the USA can ask government agencies to 'act quickly and take specific high-priority actions.' However, such requests are at most prompts for prioritizing actions, and agencies must still adhere to the rules and procedures of NEPA.
Buzbee pointed out that NEPA does not provide a statutory fast-tracking process for substantial investments in major projects; in fact, the larger the project's impact, the more thorough investigations government agencies must conduct to avoid subsequent judicial review.
Some commentators believe that Trump's promise of fast approval could help him achieve his goals of increasing the development of traditional energy oil and gas while cutting regulations.
During a campaign rally in October this year, Trump promised that the USA would achieve energy independence and that he would reduce energy prices by half within a year after taking office on January 20. He said at that time, 'We will drill, baby, drill.'
Last month, Trump nominated North Dakota Governor Doug Burgum as Secretary of the Interior and appointed him as the chairman of the newly established National Energy Committee. He also nominated Liberty Energy CEO Chris Wright, from the shale oil and gas services company, as Secretary of Energy. North Dakota, governed by Burgum, is energy-rich, and Wright is a strong supporter of oil and gas development. These nominations highlight the new USA government's focus on boosting domestic energy production. Permitting reform is a major concern for the Oil & Gas Industry.
The American Petroleum Institute (API) released a policy blueprint last month, calling for the future Trump administration to work with Congress to lift the Department of Energy's moratorium on issuing liquefied natural gas licenses, to 'quickly' process all pending export applications, and to repeal land leasing rules that the association considers restrictive. The industry association also called for reforms of environmental regulations, including changes to some reforms proposed by current President Biden.
