Trump offers billionaires 'expedited approvals' on environmental projects
The criteria for where the investments are to be made remains unclear
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President-elect Trump is planning to offer high-rolling investors an advantage in obtaining environmental approvals and permits under his administration.
In a Truth Social post, the incoming president announced that those who make an investment of at least $1 billion in the U.S. will be eligible for a speedier approval process for environmental projects.
The criteria for where the investments are to be made remains unclear.
"Any person or company investing ONE BILLION DOLLARS, OR MORE, in the United States of America, will receive fully expedited approvals and permits, including, but in no way limited to, all Environmental approvals," Trump wrote on Tuesday. "GET READY TO ROCK!!!"
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The announcement comes just weeks after it was reported that Trump is planning to expedite the permit approval process for environmental projects and expand drilling on federal land, according to Reuters.
President Biden has blocked environmental approval processes during his tenure in the White House, such as canceling oil and gas leases initiated by Trump in the Arctic National Wildlife Refuge in 2021, and most recently placing a pause on new liquefied natural gas (LNG) export permits.
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Trump, however, is eyeing immediate changes to the current policies on LNG permits, as well as plans to increase lease sales for oil and gas drilling along the coast, sources familiar with the transition plans told Reuters.
President-elect Trump is reportedly planning to expedite the permit approval process for environmental projects and expand drilling on federal land, according to Reuters. (Allison Robbert/Pool/File via / AP Newsroom)
While on the campaign trail, Trump vowed to make energy and the environment a key focus during his first few weeks in office.
"They annihilated your steel mills, decimated your coal jobs, assaulted your oil and gas jobs and sold off your manufacturing jobs to China and other foreign nations all over the world," Trump said of the current administration.
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Leading Trump's environmental efforts will be former Rep. Lee Zeldin, R-N.Y., as head of the Environmental Protection Agency (EPA), and North Dakota Gov. Doug Burgum to lead the National Energy Council.