Market Insider

Trump may have just opened door to $17 billion worth of energy projects

Trump signs executive orders on Keystone and Dakota pipelines

By easing the approval process for infrastructure programs, President Donald Trump may have resurrected a number of other oil and gas projects that were languishing.

Trump signed executive orders Tuesday advancing both the controversial Keystone XL Pipeline and the Dakota Access Pipeline, based on approvals. Trump separately signed an order requiring pipeline builders to use American steel. Additionally, he signed orders expediting environmental review and approval process for high-priority infrastructure projects.

"There's other executive orders that speed up the environmental review process, and I believe that will open up the door to these other stalled projects going through," said Daniel Clifton, head of policy research at Strategas.

Clifton said there were about 10 other energy projects, totaling $7 billion, that were turned down or held up since the Obama administration rejected the estimated $10 billion Keystone XL Pipeline in November 2015.

Among the other projects are the $3 billion Atlantic Sunrise project in Pennsylvania, delayed in March, and the $3 billion Jordan Cove LNG project in Oregon, rejected in March. The $700 million Gateway Pacific coal terminal was rejected in May, and the PennEast Pipeline, in Pennsylvania and New Jersey, was delayed in March. The $5.1 billion Atlantic Coast Pipeline in West Virginia, Virginia and North Carolina was delayed in April.

TransCanada says it will re-apply for Keystone XL pipeline