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Trump Dismisses Climate Agreement And Backs U.S. Oil

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Via Oilprice.com

President Donald Trump reiterated that the United States will be withdrawing from the Paris Climate Agreement, praising soaring U.S. oil and gas production at the same time.

“I withdrew the United States from the terrible, one-sided Paris Climate Accord,” President Trump said at the 9th Annual Shale Insight Conference in Pittsburgh on Wednesday, less than two weeks before the United States can formally begin the process to pull out of the climate agreement on November 4.

This day is the earliest date on which the U.S. can submit a formal letter to the United Nations to begin the process of withdrawal, which would be completed one year after that, right around the time of the 2020 presidential election.

“The Paris Accord would’ve been shutting down American producers with excessive regulatory restrictions like you would not believe, while allowing foreign producers to pollute with impunity,” President Trump said at the Pittsburgh conference, touting America’s air and water as ones of the cleanest on earth.

“And, you know, as I said before, we’re now number one, not by a little bit, but by far. Way ahead of Saudi Arabia. Way ahead of Russia. But we can do even much better than that,” the U.S. President added, referring to U.S. oil production.  

Petroleum and natural gas production in the United States jumped by 16 percent and 12 percent, respectively, in 2018, setting new production records and placing the United States as the world’s single largest producer of oil and natural gas, EIA has estimated. Related: Two Dead Following ISIS Attack On Iraqi Oil Field

Although the Trump Administration will soon formally begin the withdrawal from the global climate agreement, cities, states, and businesses continue to pledge emissions reduction through organizations such as America’s Pledge and We Are Still In. Across America, 24 states have committed to upholding the U.S. commitment to the Paris Accord of reducing emissions 26 to 28 percent below 2005 levels by 2025.

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The Trump Administration’s intent to start the withdrawal process drew criticism from the Center for American Progress, whose president and CEO Neera Tanden said:

“Instead of projecting strength, this action weakens America on the world stage and cedes leadership on climate change and other challenges of our time to countries like Russia and China.”

By Tsvetana Paraskova for Oilprice.com

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