On Monday, President Donald Trump signed an executive order significantly reducing the size of two national monuments in Utah, Bears Ears and Grand Staircase-Escalante, by nearly 1.5 million acres each. This action aims to facilitate access to public land for corporate development and the oil and gas industry, reversing protections established by previous administrations, according to The Guardian.
Key Details
The Bears Ears National Monument, designated by President Barack Obama in 2016, and the Grand Staircase-Escalante National Monument, established by President Bill Clinton in 1996, are both significant for their cultural and historical importance to Native American tribes. Trump stated,
They took the land from the people quite honestly. We’re giving it back.
Utah Governor Spencer Cox supported the reduction, arguing that the size of the monuments exceeded what was necessary for protection under the Antiquities Act.
Background
Environmental advocates and tribal representatives have criticized the downsizing, emphasizing the importance of preserving these lands. Earthjustice, an environmental law firm, indicated that it would challenge the decision in court, asserting that the executive order undermines longstanding conservation efforts.
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The reduction of these national monuments may lead to increased exploration and extraction activities in the oil and gas sectors, potentially affecting energy prices and related investments. Investors will watch for the legal challenges that may arise from environmental groups and tribal entities opposing the executive order.