The President’s halt on new regulations is beginning to pay dividends.
Savvy Legal Insurrection readers may have already noticed the historic stock market levels that ensued after President Trump’s address to the Congress.
However, I think that only part of this optimism stem’s from Trump’s well received speech. I suspect another aspect to this optimism is that businesses are beginning to enjoy the regulatory relief from new rules that is the direct result of the President’s very busy pen.
Shortly after the inauguration, President Trump signed an executive order that mandated agencies cut 2 existing rules for every new one they create. As regulations are difficult to kill, and there hasn’t been time to trim any, recent essentially are quite dead-in-the-water.
As an example, per Department of Transportation mandates, many of my clients were planning to purchase new lithium battery labels and ensure employees had specific, technical training related to the shipment of these items. These rules no longer apply.
Currently, the DOT will allow firms to use either the older regulations or the new guidelines. However, the burden of new labels and providing the specified training has been removed from thousands of businesses across the country.
As I have noted previously, the Environmental Protection Agency is reworking its policies so that the life-essential gas known as carbon dioxide is no longer treated as a pollutant. However, that isn’t the only “green house gas” that was being targeted for action by the climate alarmists in the organization.
The EPA planned to force the fossil fuel industry to collect information on methane (a carbon-based gas found in cow farts). Likely, this would have ultimately led to even more business-crushing rules.
The operative word in that sentence…was.
The Environmental Protection Agency (EPA) is withdrawing its request that oil and gas drillers provide regulators with information about methane emissions.
Under former President Obama, officials had asked drillers to give the EPA data about methane emissions and equipment at existing oil and gas wells. The request was the first step in an agency push to issue a rule cracking down on methane emissions, which have a potent impact on climate change.
…Officials from 11 states on Wednesday asked the EPA to suspend its information collection request, saying a methane rule would be costly and “unlawful.”
Now, the millions of dollars that would have been spent on this climate alarmist insanity can now be spent on hiring new employees, the discovery of new fossil fuel sources, and the improvement of technologies to make obtaining natural gas safer and cheaper.
Additionally, the cost savings will now trickle down to the consumer.
Trump’s trickle down regulatory relief is beginning to pay dividends.