Trump Has Made the 2020 Election a Referendum on Climate Change

Marco Green
June 5, 2017

Bloomberg, who supported former Secretary of State Hillary Clinton during the 2016 presidential election, believes that he can cobble enough money from several mayors around the country to help finance the hefty price tag attached to the complex accord. "From this point of view, it's rather a gift from Trump to the negotiators", said Christian de Perthuis, an economics professor at the University of Paris-Dauphine, and president of the scientific advisory board to the Climate Economics Chair. "Very bad for U.S. This will change." - tweet Tuesday.

New Delhi also pledged to create an additional carbon sink - which suck up and store carbon dioxide from the atmosphere - of 2.5-3 billion tonnes of CO2 equivalent through additional forest and tree covers by 2030. The study, commissioned by a pro-industry group, projected the sharpest declines in coal, cement, and iron and steel, and the loss of 440,000 manufacturing jobs. "They know it will continue to shackle our economy", said Mr Pruitt, who serves as Mr Trump's environment protection agency administrator. While countries may also mimic the walking away, the political cost of doing so is much higher than lowering a pledge, and so a domino effect is less likely. It threatened to displace jobs in fossil fuel industries in the short term for the promise of jobs in renewable energy in the future. States, cities and communities across much of the USA are staunch supporters of action, irrespective of federal leadership. It recently canceled construction of more than 100 new coal-fired power plants and plans to invest at least $360 billion in green-energy projects by the end of the decade.

While the industry is split on their stance toward the Paris agreement, some coal executives like Bob Murray, chief executive officer of Murray Energy, have supported Trump's talking points on the USA economic implications of the Paris agreement.

United States billionaire and UN envoy for climate change Michael Bloomberg pledged $15 million to support the Paris agreement's coordinating agency if necessary - the sum it stands to lose should the USA refuse to pay its share.

In a Facebook post about Saturday's event, organizers said the rally was designed "to show our support for President Trump's withdrawal from the crippling Paris Accord and demonstrate that we the people support his courageous stand against globalist coercion". As with just about everything else concerning the Trump presidency division is the watchword.

Trump's decision has been met with widespread criticism, with U.S. politicians, world leaders, and captains of industry all coming forward to decry his decision.

Oil prices fell Friday on concern that the USA exit from Paris could lead to increased production and a continuation of the glut of crude.

Still, the strength of the agreement is that it doesn't depend on any one country for success - even big ones like the U.S. The primary cause has been competition from cleaner-burning natural gas, which has been made cheaper and more abundant by hydraulic fracturing.

More worrisome than the long-term guesses could be the expected tariffs on US carbon emitters slapped on by other countries. If America continues to "belch greenhouse gases willy-nilly", she wrote, foreign nations might slap carbon taxes on US products.

Other reports by Click Lancashire

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