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President Trump to sign executive order to undo Obama's fossil fuels regulations

President Trump to sign executive order to undo Obama's fossil fuels regulations

"We've made tremendous progress on our environment, and we can be both pro-jobs and pro-environment".

He complained some people seemed to think that if "you're pro-growth, pro-jobs, you're anti-environment".

Trump has already alarmed environmentalists by ordering completion of the controversial Keystone oil pipeline, promising to revive the moribund US coal industry, and asking the EPA to reconsider rules regulating clean water and fuel economy for cars.

When pressed on whether the new executive order would face court challenges, Pruitt said he isn't anxious about potential legal ramifications. "Paris was just a bad deal".

The Clean Power Plan was a set of rules introduced under the Obama administration that would have seen states pushed to reduce Carbon dioxide emissions but which was held up by legal challenges.

But challengers say the rule exceeds the EPA's statutory authority and goes beyond the bounds set by the Constitution. The coming order underscores Trump's commitment to make good on his campaign promises, which helped propel him to victory in industrial strongholds such as West Virginia and Pennsylvania.

More news: ARM develops new chip for driverless cars

There are, however, limits to what the president can do by executive order.

President Donald Trump is set to sign a sweeping executive order on Tuesday aimed at promoting domestic oil, coal and natural gas by reversing much of his predecessor's efforts to address climate change.

The order also is set to include a targeted assault on a handful of specific Obama-era regulations. Anyone who pays an electric bill knows that during the 8 years of the Obama administration there were double digit increases in the cost of electricity.

Coal miners such as Arch Coal (ARCH), BHP Billiton (BHP), Cloud Peak Energy (CLD), Freeport-McMoRan (FCX) and Rio Tinto (RIO), together with exchange-traded fund Market Vectors-Coal ETF (KOL), are likely to be the biggest beneficiaries of this drive to reverse the Obama administration's Clean Power Plan. Unshackling the productive potential of America should be Trump's number one priority going forward.

Under Trump, the U.S. Environmental Protection Agency is aiming to aggressively roll back Obama-era environmental regulations.

On Tuesday, President Trump will announce new executive orders that target EPA regulations that hindered electricity production in the United States.

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