Trump Says Anyone Investing $1 Billion in U.S. Will Receive Expedited Permits

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U.S. President-elect Donald Trump said on Tuesday that any person or company investing at least $1 billion into the U.S. “will receive fully expedited approvals and permits, including, but in no way limited to, all Environmental approvals.”

The statement, posted on his social media platform Truth Social, did not offer further details.

Trump’s transition team is working on a package to roll out within days of his taking office on Jan. 20 to approve export permits for liquefied natural gas projects and to increase oil drilling on federal lands and off the U.S.coast, sources familiar have said.

It was not immediately clear how Trump could work around independent commissions such as the Federal Energy Regulatory Commission, which has recently required additional environmental reviews for LNG projects.

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The Trump transition team did not immediately respond to a request for comment.

Trump, a Republican, also plans to repeal some aspects of Democratic President Joe Biden’s regulations and top climate legislation, such as tax credits for electric vehicles and new clean power plant standards that aim to phase out coal and natural gas.

(Reporting by Eric Beech, Timothy Gardner and Jarrett Renshaw; Editing by Ismail Shakil and Chizu Nomiyama)