Donald Trump did not get the respect that he deserved from the leaders of the G 7 countries. The issue that was the basis of the most significant disagreement with other G-7 leaders was climate change . . . and the Paris Accord.
So, on his return he finally decided that the US would withdraw from the Paris Accord. He considers that this action will contribute to making the US great again. Quite an exaggeration: the low price of coal generated energy will lead to a slight and temporary competitive advantage of the US in world markets. But that advantage will be lost as the cost of renewable energy sources steadily reduces.
We expected that certain themes would be stressed in White House announcement:
- First, the Paris Accord is grossly unfair as it required the US to make the largest financial contribution to the Green Climate Fund.
- Second, the international legal infrastructure supported by the Paris Accord is a form of world socialism that stifles American entrepreneurship. He suggested that the Accord placed burdens on the US to make it less competitive.
- Third, he considers that by this act he will be putting America first.He did not state that his decision was a rejection of climate change science. He claimed that he was an environmentalist. So lets remind ourselves that in his previous statements he claimed these theories are a hoax. Don’t fall for them.
Previous commentary on events that have led to this anticipated result: