If Republican nominee Donald Trump becomes president, he may approve the Keystone XL oil pipeline.
During a May 26 speech on energy at the Williston Basin Petroleum Conference in Bismarck, North Dakota, Trump said if he became president, he would ask TransCanada Corp. to re-submit its application for the proposed Keystone XL oil pipeline, which would connect Canada’s oil sands to U.S. Gulf Coast refineries, Bloomberg Politics reports.
Before the speech, Trump mentioned that he would seek a better deal on the Keystone project in order to give the American people "a significant piece of the profits."
The Keystone XL oil pipeline proposal was rejected by President Barack Obama in November 2015. TransCanada is currently suing the U.S. government over this rejection, and the company said it's looking to recoup the $15 million it invested in the project.
"Keystone XL represents a business transaction," James Millar, a spokesman for TransCanada, wrote in an email to Bloomberg Politics. "The role of the U.S. government in such transactions is that of a regulator. We would expect to continue to follow this model that has been in place for decades."
The topic of Obama’s environmental policies were also touched on by Trump during his speech.
Referring to Obama’s environmental actions as "job destroying," Trump said he would rescind them within 100 days of taking office and terminate an international climate deal that was made in Paris in 2015.
"His policy is death by a thousand cuts, through an onslaught of regulations," Trump said of Obama.
The Paris Agreement is a global action plan that aims to disrupt climate change by limiting global warming to below 2 degrees Celsius above pre-industrial levels, according to the European Commission. It's set to go into effect in 2020, in order to give countries time to make changes to their global emissions. The agreement is legally-binding for all the countries involved.
As of May 20, 177 signatories have adopted the agreement, including the United States, European Union, and China, according to the United Nations.
Trump’s vows to overturn environmental policies set in place by the Obama Administration may be an attempt to woo voters in North Dakota and other states who are deeply tied to the oil industry and have suffered losses since the price of oil has seen significant declines over the past two years, Bloomberg Politics notes.
Trump also said that as president, he would encourage more U.S. energy exports and reduce the role of the federal government in energy and environmental policy, which he said was a major factor in the decline of the U.S. coal industry.
"We’re going to put people before government," he said, according to Bloomberg Politics. "I’m the only one who’s going to deliver."