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promises expedited permitting process to projects over $1 billion","trump-promises-expedited-permitting-process-to-projects-over-1-billion","article/trump-promises-expedited-permitting-process-to-projects-over-1-billion",{"_uid":557,"date":558,"tags":559,"editor":566,"content":576,"excerpt":658,"featured":51,"reporter":659,"_editable":663,"component":664,"seo_title":553,"categories":665,"visibility":669,"author_company":49,"featured_image":670,"seo_description":658,"author_full_name":49,"author_job_title":49,"formattedDate":675,"formattedArticleDate":676},"fa628af9-7101-42ae-8c5c-734bcc7c62bb","2024-12-12 00:00",[560,563],{"slug":561,"name":562},"usa","USA",{"slug":564,"name":565},"policy","Policy",[567],{"slug":568,"name":569,"content":570},"matthew-bird","Matthew Bird",{"job_title":571,"image":572,"bio":574,"linkedin":575},"Senior Editor - Supply Chains & Data Visualisation",{"filename":573},"https://a.storyblok.com/f/287943243085208/512x512/14738033ec/matthew-bird.jpeg","Matthew writes, edits and produces content for Benchmark Intelligence and Benchmark Source across the whole mine to grid supply chain. He also acts as a liaison to the press. He has a PhD in electrochemistry from the University of Nottingham.","https://www.linkedin.com/in/birdmatthew/",{"type":577,"content":578},"doc",[579,586,591,596,603,608,613,618,623,628,633,638,643,648,653],{"type":580,"attrs":581,"content":582},"paragraph",{"textAlign":49},[583],{"text":584,"type":585},"The reelection of Donald Trump may threaten the tax credits and subsidies of the Inflation Reduction Act but could be a boon to US mining and construction projects.","text",{"type":580,"attrs":587,"content":588},{"textAlign":49},[589],{"text":590,"type":585},"On 10 December, President-elect Trump stated ambitions to speed up federal regulatory approvals for investments of $1 billion or more on US construction projects via his social media platform Truth Social.",{"type":580,"attrs":592,"content":593},{"textAlign":49},[594],{"text":595,"type":585},"“This could be important, as permitting is one of the biggest stumbling blocks in the US for energy, infrastructure and mining projects,” said Bryan Bille, Policy Analyst at Benchmark.",{"type":597,"attrs":598,"content":600},"heading",{"level":599,"textAlign":49},4,[601],{"text":602,"type":585},"Will Trump be able to do this?",{"type":580,"attrs":604,"content":605},{"textAlign":49},[606],{"text":607,"type":585},"Under the National Environmental Policy Act (NEPA) the federal government is required to conduct environmental assessments before approving permit applications, adopting federal land management actions, and public infrastructure projects. This may pose a regulatory hurdle to such a policy.",{"type":580,"attrs":609,"content":610},{"textAlign":49},[611],{"text":612,"type":585},"“The next administration, supported by a majority of Congress, could further relax NEPA restrictions, aiming to shorten environmental review timelines and shrink judicial review deadlines,” said Bille.",{"type":580,"attrs":614,"content":615},{"textAlign":49},[616],{"text":617,"type":585},"The first Trump administration overhauled NEPA to “facilitate more efficient, effective, and timely NEPA reviews by Federal agencies,” according to a ruling from the Council on Environmental Quality.",{"type":597,"attrs":619,"content":620},{"level":599,"textAlign":49},[621],{"text":622,"type":585},"Why has Trump announced this policy?",{"type":580,"attrs":624,"content":625},{"textAlign":49},[626],{"text":627,"type":585},"A 2020 study by the White House Council on Environmental Quality found the average completion time for a NEPA environmental impact assessment was 4.5 years.",{"type":580,"attrs":629,"content":630},{"textAlign":49},[631],{"text":632,"type":585},"Subsequently, improving federal permitting procedures has support across the aisle. ",{"type":580,"attrs":634,"content":635},{"textAlign":49},[636],{"text":637,"type":585},"Congress is currently working to pass the bipartisan Manchin-Barrasso bill to expedite the permitting of energy projects. However, its chances of passing in the final few weeks of the current Congress are uncertain.",{"type":597,"attrs":639,"content":640},{"level":599,"textAlign":49},[641],{"text":642,"type":585},"How does this fit into Trump’s wider policy ambitions?",{"type":580,"attrs":644,"content":645},{"textAlign":49},[646],{"text":647,"type":585},"“This aligns with Trump’s deregulation agenda aiming at cutting red tape (especially at the environmental level) and speeding up project timelines to make it more attractive to invest in the US,” said Bille.",{"type":580,"attrs":649,"content":650},{"textAlign":49},[651],{"text":652,"type":585},"Trump has regularly stated his support for fossil fuels; expediting the environmental approval process for large infrastructure projects would certainly benefit the industry.",{"type":580,"attrs":654,"content":655},{"textAlign":49},[656],{"text":657,"type":585},"The President-elect has also vowed to implement across the board tariffs of up to 20% and rollback clean energy tax credits, neither of which is conducive to foreign investment in US manufacturing. Deregulation could be one way of encouraging investment in the US.","The reelection of Donald Trump may threaten the tax credits and subsidies of the Inflation Reduction Act but could be a boon to US mining and construction projects. On 10 December, President-elect Trump stated ambitions to speed up federal regulatory approvals for investments of $1 billion or more on US construction projects via his social […]",[660],{"slug":568,"name":569,"content":661},{"job_title":571,"image":662,"bio":574,"linkedin":575},{"filename":573},"\u003C!--#storyblok#{\"name\": \"article\", \"space\": \"\", \"uid\": \"fa628af9-7101-42ae-8c5c-734bcc7c62bb\", \"id\": \"\"}-->","article",[666],{"slug":667,"name":668},"geopolitics","Geopolitics","private",{"id":49,"alt":671,"name":671,"focus":671,"title":671,"source":671,"filename":672,"copyright":671,"fieldtype":673,"meta_data":674,"is_external_url":51},"","https://a.storyblok.com/f/287943243085208/de4c4f63d3/bm-trump.jpg","asset",{"alt":671,"title":671,"source":671,"copyright":671},"Dec 12, 2024","12th December 2024",[],[],1792773892909]