Elon Musk and Jeff Bezos are due to receive a major boost in the wake of US President Donald Trump's latest signed executive order, as it specifically benefits the commercial space industry which the two billionaires are a key part of.
Despite major budget boosts given to NASA following a recent u-turn by the Trump administration, there appears to be a significant push towards the private space industry that could eventually support colonization efforts of the Moon and Mars.
It has already been estimated quite how much materials on the Moon could be worth to private companies, and plans have been laid out to extract and mine materials in order to return them home to Earth.
President Trump's latest executive order could further support the efforts of the private space industry, which Elon Musk and Jeff Bezos remain leading individuals within, as it removes key environmental and regulatory protections.
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What is Trump's new executive order?
As reported by the Guardian, a new executive order titled 'Enabling Competition in the Commercial Space Industry' was signed by Donald Trump on Wednesday, allowing private companies to bypass environmental reviews that were previously required under the National Environmental Policy Act (NEPA).
"It is imperative that we build on the far-reaching actions taken by my Administration during my first term to ensure that new space-based industries, space exploration capabilities, and cutting-edge defense systems are pioneered in America rather than by our adversaries," the executive order outlines.
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"Ensuring that United States operators can efficiently launch, conduct missions in space, and reenter United States airspace is critical to economic growth, national security, and accomplishing Federal space objectives," it continues.
The goal is to "substantially" increase the number of space launches in the United States by 2030, which Trump views as vitally important to national security in the country.
The environmental regulations that can now be avoided by these private companies were seen as vital as rocket launches can prove to have a significantly negative effect on local residents and the surrounding environment.
How does it benefit Musk and Bezos?
Jeff Bezos and Elon Musk hold key roles within the private space industry, owning Blue Origin and SpaceX respectively, so any form of relaxed regulations would benefit their companies and by extension themselves.
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SpaceX will be particularly happy with the decision from Trump as it has been subject to a lawsuit brought forward by environmental activists for previously allegedly violating the NEPA, which pointed towards the damage that its launches have caused to endangered species in Boca Chica, Texas.
"This reckless order puts people and wildlife at risk from private companies launching giant rockets that often explode and wreak devastation on surrounding areas," argued Jared Margolis, a senior attorney at the Center for Biological Diversity, in reference to Trump's decision to sign the executive order.
"Bending the knee to powerful corporations by allowing federal agencies to ignore bedrock environmental laws is incredibly dangerous and puts all of us in harm's way," he added.