President Donald Trump announced yesterday that the United States would leave the Paris Climate Accord, making it one of three countries not to sign the agreement. The United States joins Nicaragua and Syria as the only countries not to sign the accord. Nicaragua will not sign the accord because it does not punish countries who cannot meet their voluntary contributions to developing countries. Syria, on the other hand, it facing major sanctions from the West and the state of their government makes it very difficult to take part in the arguments in Paris.
The Climate Deal is Costly in both Dollars and Jobs
Wealthy nations agreed to provide $100 billion a year to help developing countries move away from fossil fuels and use more renewable power supplies. It was predicted by a UN official that those payments would increase to nearly $450 billion a year by the United States in 2020. This money would be going to less developed countries in the Green Climate Fund to help them develop clean and renewable sources of energy so that they too can lower their carbon emissions. But, as seen numerous times before, corrupt government officials in developing countries have a tendency of losing track of much of that money.
Besides costing the United States a massive amount of money, it requires certain American industries to greatly reduce in size. In total, 2.7 million jobs will be lost by 2025 according to the National Economic Research Associates. The President stated in his announcement, “paper down 12 percent; cement down 23 percent; iron and steel down 38 percent; coal — and I happen to love the coal miners — down 86 percent; natural gas down 31 percent. The cost to the economy at this time would be close to $3 trillion in lost GDP and 6.5 million industrial jobs, while households would have $7,000 less income and, in many cases, much worse than that.”
The Proposed Environmental Effects are Negligible
While the environmental effects of pulling out of the Paris accord did not influence the President’s decision all that much, he emphasized that China and India will get a much better deal than the U.S. For Many Washington Republicans, this rejection of an accord is a big “déjà vu” to them. In 2001, George W. Bush said that the U.S. would not be taking part in the Kyoto Protocol on global warming because of similar reasons. Since that time, CO2 emissions have been reduced in the U.S. by nearly 18%, mainly due to new innovations and advances in clean energy not mandated by the government.
EPA Administrator Scott Pruitt stated yesterday that this was at a much quicker rate than most of the European countries who have led the way with the Paris Accord, but this is commonly disputed. A side note: there have already been 30 cities, 3 states, and over 100 companies who will submit a plan committed to the Paris Climate Accord, according to the New York Times.
The Reaction has been mostly Negative
This decision by Trump has many on the left beginning to talk about the apocalypse. Paris Climate Accord leaders and European leaders have said that the agreement will still live on and that it cannot be renegotiated. Leaders from every country in the world have expressed disappointment that the United States will leave the accord, which President Trump says is because they want to gain a huge economic advantage over the United States. He also called the agreement a huge wealth redistribution scheme from the United States to other countries.