President-elect Donald Trump has vowed to speed up permits for environmental approvals for those investing $1 billion or more in the US. The eligible projects include energy initiatives like gas pipelines, solar farms, and offshore wind turbines, among other enterprises. The upcoming proposal is set to ignite a mining boom in the US and compete with China and other countries.
Also Read: Saudi Arabia Goes Beyond Oil: Pursues $2.5 Trillion Mining Revolution
Anyone making a $1 billion investment in the US “will receive fully expedited approvals and permits, including, but in no way limited to, all environmental approvals,” wrote Trump on Truth Social. The approvals will fast-track permits for energy initiatives like export terminals, natural gas pipelines, solar farms, and offshore wind turbines, among others.
Trump’s announcement has come as a boon to firms that have long complained about delays in energy initiatives. Even Tesla CEO Elon Musk, who is accused of violating environmental regulations, praised Trump’s recent announcement. “This is awesome,” he tweeted on X.
Also Read: Elon Musk May Buy Property Near Donald Trump’s Mar-a-Lago
Trump Faces Criticism for Speeding up Approvals
Environmental bodies in the US have slammed Trump’s proposal of speeding up approvals for firms that harm the natural ecosystem. Critics stressed that the President-elect is only favoring the rich leaving mid-sized firms with no access to the mining business. “We need to address permitting in this country. Rigging the approval process so only wealthy corporations benefit, ain’t it,” said Washington-based environmental group Evergreen Action.
Also Read: 3 Bullish Price Predictions For the S&P 500 Index in 2025
Another activist group said that Trump must also allow firms to dump waste next to his Mar-a-Lago mansion in Florida. “What if someone wants to build a waste incinerator next to Mar-a-Lago or a coal mine next to Bedminster golf course? Trump is unabashedly and literally offering to sell out America to the highest corporate bidder,” said Lena Moffitt. Advocacy groups are planning to stop Trump’s actions, calling the proposal “obviously illegal” that will increase pollution in the US.
