Trump Says Companies Investing $1 Billion In U.S. Will Soar Through Environmental Regulations

Topline

President-elect Donald Trump on Tuesday promised to fast track environmental approvals and other permits for any company making an investment of $1 billion or more in the United States, though how exactly he plans to help businesses skip traditional regulatory processes remains unclear.

Key Facts

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Key Background

Trump hasn’t been shy about his desire to steer away from strict environmental regulation. In his first term, he repealed a water resource management regulation called the Clean Water Rule, rolled back more than 100 rules governing clean air, water, wildlife and more, and pulled the United States from the Paris Climate Accord. In his second term, he plans to continue his support of oil and gas extraction on federal land like national parks and wilderness areas and has called for the repeal of the Inflation Reduction Act, President Joe Biden’s signature climate law that aims to lessen greenhouse gas emissions. Trump has also said he aims for the U.S. to have the lowest-cost energy and electricity in the world, which he plans to achieve by “unleashing” American energy and rescinding “every one of Joe Biden’s industry-killing, jobs-killing, pro-China and anti-American electricity regulations.”

Crucial Quote

Trump repeatedly used the term “drill, baby, drill” on the campaign to indicate his support of America’s oil and gas industry.

Chief Critics

Numerous lawmakers, scientists, current and former officials and environmental groups have criticized Trump’s environmental policies. Andrew Rosenberg, a former National Oceanic and Atmospheric Administration official, called Trump’s environmental plans “horrific” in an interview with The Guardian, adding Trump will “roll back progress made over decades to protect public health and safety.” Ben Jealous, head of the Sierra Club, told Forbes the group plans to top the 300 lawsuits it filed against Trump in his first term and is “gearing up aggressively to get ready to defend the United States.” Anand Gopal, executive director at Energy Innovation, told The Guardian a repeal of the Inflation Reduction Act would have a “potentially disastrous” impact and “put the world way off track to where it needs to be” on global warming targets. John Podesta, Biden’s clean energy adviser, told The New York Times the Biden administration is rushing to deliver hundreds of millions of dollars in environmental grants before Trump is inaugurated.

Further Reading

ForbesWhat Environmental ‘Efficiency’ Means For The New Trump AdministrationBy Saleem H. AliForbesClean Energy’s Cost Edge Could Trump ‘Drill, Baby, Drill’By Amy Feldman
ForbesHow The Country’s Largest Environmental Group Is Preparing To Fight TrumpBy Amy Feldman