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January 24, 2017

Trump to Issue Executive Order Advancing Keystone and Dakota Pipelines

By Tyler Durden, Zero Hedge
It is just day two of his presidency, and already Trump is taking a sledgehammer to the Obama legacy: in his latest move reported moments ago by Bloomberg, president Trump intends to sign two executive actions today "that would advance construction of the Keystone XL and Dakota Access pipelines", putting a spoke, so to say, in the train wheels of Warren Buffett's train-based oil transportation quasi-monopoly.
Map source: Wikipedia, added by EconMatters,

More details from Bloomberg:
Keystone was rejected under former President Barack Obama. Trump’s move on Energy Transfer Partners LP’s 1,172-mile Dakota Access project aims to end a standoff that has stalled the $3.8 billion project since September, when the Obama administration halted work on land near Lake Oahe in North Dakota.   
The moves, taken on Trump’s fourth full day in office, mark a major departure from the Obama administration’s handling of the controversial oil pipelines. The steps vividly illustrate Trump’s plan to give the oil industry more freedom to expand infrastructure and ease transportation bottlenecks.
Expect an angry reaction from Buffett, which will promptly flow through to funded environmental protest groups, who will double down in their defense of the two pipelines, of which the Dakota Access was the prominent center of media attention in the waning days of Trump's presidency.
Courtesy of Tyler Durden, founder of Zero Hedge  
The views and opinions expressed herein are the author's own, and do not necessarily reflect those of EconMatters.

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