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Cake day: June 24th, 2023

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  • Extremely generally speaking: It more that industries are required to submit information and applications. The regulatory body then determines if it meets the legal minimum requirements.

    The process of determining the latter is much slower than the former. The timeline can be as short as 60 days, depending. (I don’t think that’s the case here. I think this is years long. But studies take that long.) And industries also tend to fight every step of the way, even when caught flagrantly violating agreements, orders, and the plain text of the law.

    So industries have incredible power and influence over their regulators as there is a very distinct political cycle to it. Most can wait the 4-8 years for party rule to swap.