Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

Trump to set new executive orders on environment, energy this week

Published 04/24/2017, 06:07 AM
Updated 04/24/2017, 06:07 AM
© Reuters. U.S. President Donald Trump speaks to reporters following a signing ceremony with Treasury Secretary Steve Mnuchin at the Treasury Department in Washington

By David Shepardson and Valerie Volcovici

WASHINGTON (Reuters) - U.S. President Donald Trump this week will sign new executive orders before he completes his first 100 days in office, including two on energy and the environment, which would make it easier for the United States to develop energy on and offshore, a White House official said on Sunday.

"This builds on previous executive actions that have cleared the way for job-creating pipelines, innovations in energy production, and reduced unnecessary burden on energy producers," the official said on condition of anonymity. 

On Wednesday, Trump is expected to sign an executive order related to the 1906 Antiquities Act, which enables the president to designate federal areas of land and water as national monuments to protect them from drilling, mining and development, the source said.

On Friday, Trump is expected to sign an order to review areas available for offshore oil and gas exploration, as well as rules governing offshore drilling.

The new measures would build on a number of energy- and environment-related executive orders signed by Trump seeking to gut most of the climate change regulations put in place by predecessor President Barack Obama.

A summary of the forthcoming orders, seen by Reuters, say past administrations "overused" the Antiquities Act, putting more federal areas under protection than necessary.

Obama had used the Antiquities Act more than any other president, his White House said in December, when he designated over 1.6 million acres of land in Utah and Nevada as national monuments, protecting two areas rich in Native American artifacts from mining, oil and gas drilling.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

The summary also says previous administrations have been "overly restrictive" of offshore drilling.

Late in Obama's second term, he banned new drilling in federal waters in parts of the Atlantic and Arctic Oceans using a 1950s-era law that environmental groups say would require a drawn out court challenge to reverse.

Interior Secretary Ryan Zinke said during his January confirmation hearing that Trump could “amend” Obama’s monument designations but any move to rescind a designation would immediately be challenged.

Last month, Trump signed an order calling for a review of Obama's Clean Power Plan, and reversed a ban on coal leasing on federal lands.

In addition to the energy-related orders, Trump is also expected this week to sign an order to create an office of accountability in the Veterans Affairs department.

He is also expected to create a rural America interagency task force to recommend policies to address issues facing agricultural states.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.