President Donald Trump signed executive orders Tuesday giving the green light for construction of the Keystone XL and Dakota Access pipelines, two projects that stalled under the Obama administration.
TransCanada (TRP) first sought approval for its Keystone XL pipeline in 2008, but President Obama rejected its permit application in November 2015. Energy Transfer Partner’s (ETP) Dakota Access Pipeline is already under construction. However, the Obama administration halted the project in late 2016 amid protests by environmental and Native American groups.
The executive order on Keystone XL invited TransCanada to resubmit its proposal and directed agencies to expedite the approval process. TransCanada later released a statement saying it has begun preparing the application.
Another executive order signed on Tuesday says the U.S. Commerce Department will seek to maximize the use of U.S. steel in building the pipelines. Trump also moved to expedite the permitting process for related infrastructure projects.
Both pipelines can move forward subject to a renegotiation of terms, according to Trump. During a briefing with reporters, White House spokesman Sean Spicer said Trump wants to get the “best deal” for American taxpayers and allow anyone with concerns to “come back to the table.”