Investors Bet Trump Climate Withdrawal to Boost US Drilling

Posted June 03, 2017

However, there were also warnings from Japanese climate change activists that pro-fossil fuel politicians, bureaucrats, and business leaders should not view Trump's decision as an excuse to scale back Japan's own efforts to meet the goals of the Paris agreement.

According to Trump, the United States "will cease all implementation of the non-binding Paris Accord", and it will also end all the "implementation of the nationally determined contribution" including the Green Climate Fund, which according to him, has cost the country "a vast fortune".

Shortly after President Donald Trump yanked the US out of the Paris climate agreement, programmed its homepage with a news article about Trump's announcement and seven snarky headlines.

Liberal Democrat leader Tim Farron urged the Prime Minister to use whatever influence she has over the United States president to urge him to reverse his decision.

The leaders of France, Germany and Italy say they won't renegotiate the accord.

Schweitzer said other countries should stick to their commitments, but warned that attempting to compensate for the US withdrawal by other countries redoubling their commitments would be self-defeating.

The decision was, however, a victory for Stephen Bannon, President Trump's chief strategist, and Scott Pruitt, the Environmental Protection Agency administrator, who both spent months quietly making their case to the president about the dangers of the agreement. "The EU deeply regrets the unilateral decision by the Trump administration to withdraw the USA from the Paris Agreement".

Mr Musk said: "Climate change is real".

"I call on them, come and work here with us, to work together on concrete solutions for our climate, our environment".

Democratic cities and states, aware that the American public as a whole is increasingly concerned about climate change, are taking their stand, perhaps in recognition that the issue could become a pivotal one in the congressional and governor elections in 2018, and perhaps the presidential race in 2020. "She said that the Paris Agreement provides the right global framework for protecting the prosperity and security of future generations, while keeping energy affordable and secure for our citizens and businesses".

"We are getting out", Mr. Trump said Thursday, as reported by the New York Times.

In a TV address broadcast both in French and English (believed to be a first for a French president), Macron said he respected Trump's decision, "but I do think it is an actual mistake both for the USA and for our planet".

Google CEO Sundar Pichai also tweeted against President Trump's decision. Along with NY and Washington, the three represent more than one fifth of USA gross domestic product.

But she faced fierce criticism for failing to add her name to the joint statement by President Emmanuel Macron, Chancellor Angela Merkel and Prime Minister Paolo Gentiloni.

"Japan's business community should seize this opportunity to take leadership in a future carbon-free world", said Naoyuki Yamagishi, leader of WWF Japan's climate and energy group, in a media statement. That's 14.34% of all the waste CO2 in the world and only the oil-producing nations of the world produce more carbon per head.

In a tweet on Thursday, Musk reacted to the news that Trump had made a decision to withdraw from the Paris agreement by saying "Leaving Paris is not good for America or the world".

Disney CEO Robert Iger announced that he had resigned from a White House advisory council following Trump's announcement.

However, Trump believes the deal puts the U.S. at a disadvantage.