Obama-era regulations that put the brakes on oil and gas development continue to fall by the wayside under the current administration, Business Report reports, as two executive orders signed April 10 by President Donald Trump sought to limit the power of states to delay natural gas, coal and oil projects.
The announcements were applauded by those in the Louisiana and Texas oil and gas industry, where an abundance of supply and increasing consumption are fueling heightened demand for pipelines. The orders essentially make it harder for states to block new pipeline development on environmental grounds, calling on the Environmental Protection Agency to review a section of the Clean Water Act requiring applicants to get certification from affected states.
Gifford Briggs, president of the Louisiana Oil and Gas Association, says Trump is simply continuing his administration’s policy of gradually removing the regulatory hurdles to progress. “He has also taken some actions at FERC (Federal Energy Regulatory Commission) to speed up the approval process for Liquefied Natural Gas projects, so it’s not surprising that he’s doing the same thing with pipelines.”
Improving market dynamics with the pipelines have also given Baton Rouge-area pipe manufacturers and fabricators the confidence to open up their pocketbooks, inspiring firms to invest in producing more of their product, creating ripple effects in the region’s industry. Read the full story from Business Report.
