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Foreshadowing Trump’s plans, the president told U.S. auto executives at a White House meeting Tuesday morning: “We’re going to make the process much more simple for the oil companies and everybody else that wants to do business in the United States.”

TransCanada climbed as much as 2.9 per cent to $64.36 at 11:24 a.m. in New York. Energy Transfer Equity LP and Energy Transfer Partners LP, the developers of the Dakota project, climbed as much as 4 per cent and 2.4 per cent, respectively.

TransCanada said Tuesday it was preparing an application for Keystone XL pipeline and intends to resubmit it.

The company’s plans for Keystone XL already have been vetted, with years of environmental scrutiny culminating in Obama’s 2015 decision that the pipeline was not in the U.S. interest.

White House press secretary Sean Spicer on Monday said both Dakota Access and Keystone are examples of projects that would “increase jobs, increase economic growth, and tap into America’s energy supply more.” He said Trump wanted to balance environmental protection with activity that can grow jobs and the economy.

It wasn’t immediately clear what mechanism the documents Trump signed today would take. But his advisers have urged the new president to direct the U.S. Army Corps of Engineers to grant an easement that would allow construction of the final portion of Dakota Access, reversing the Obama administration’s conclusion that more environmental scrutiny was needed.