As we reported yesterday, President Trump had decided to withdraw from the job-killing Paris accord. Today he made that withdrawal official.
The President’s action kept his campaign promise to pull out of the deal and his promise to put American workers first. Like every deal Obama and Kerry put their hands on, this one was negotiated poorly signed out of desperation. It front-loads costs on the American people to the detriment of our economy and job growth while extracting meaningless commitments from the world’s top global emitters, like China. The U.S. is already leading the world in energy production and doesn’t need a bad deal that will harm American workers.
Key issues President Trump’s speech covered include
The deal puts America in an inferior competitive positions hurting the economy and jobs; According to a study by NERA Consulting, meeting the Obama Administration’s requirements in the Paris Accord would cost the U.S. economy nearly $3 trillion over the next several decades.
By 2040, our economy would lose 6.5 million industrial sector jobs – including 3.1 million manufacturing sector jobs and it would effectively decapitate our coal industry, which now supplies about one-third of our electric power.
Obama/Kerry negotiated a deal where some of the economies America competes with most are let off the hook while our hands are tied behind our economic backs: The Obama-negotiated Accord imposes unrealistic targets on the U.S. for reducing our carbon emissions 26%, while giving countries like China a free pass for years to come. Under the Accord, China will actually increase emissions until 2030
As the President explained India “makes its participation contingent on receiving billions and billions and billions and billions of dollars in foreign aid… China will be allowed to build hundreds of additional coal mines, India will be allowed to double its coal production; we’re supposed to get rid of ours”.
The U.S. is ALREADY a Clean Energy and Oil & Gas Energy Leader; we can reduce our emissions and continue to produce American energy without the Paris Accord America has already reduced its carbon-dioxide emissions dramatically. Since 2006, CO2 emissions have declined by 12 percent, and are expected to continue to decline
The accord hurts a growing segment of the U.S. economy, According to the Energy Information Administration (EIA), the U.S. is the leader in oil & gas production…