POLITICS

Big Oil Just Delivered a Severe Warning to Trump


It looks like the line has been drawn in the sand – it’s Steve Bannon and EPA head Scott Pruitt against Kushner, Ivanka, and a slew of big-oil executives. And President Trump is the one who will pull the trigger.

Statoil, Shell and ConocoPhillips have already sold off their stakes in the “high-cost, high-carbon Canadian oil sands.” Chevron is not far behind. Cheniere Energy Inc., a natural gas company, has said, “Domestic energy companies are better positioned to compete globally if the United States remains a party to the Paris agreement,” and the accord “is a useful instrument for fostering demand for America’s energy resources and supporting the continued growth of American industry.”

Even former Exxon CEO, Secretary of State, Rex Tillerson, is speaking out against what the President is suggesting – pulling out of the Paris Climate Agreement.

According to Bloomberg.com:

BP spokesman Geoff Morrell said the company continues to support the Paris deal, noting that “it’s possible to provide the energy the world needs while also addressing the climate challenge.” And Shell spokesman Curtis Smith said the company remains “strongly in favor” of the agreement.

Coal producers Cloud Peak Energy Inc. and Peabody Energy Corp. also are lobbying in favor of the accord, even though the miners could be disadvantaged by a global shift toward cleaner sources of electricity. Cloud Peak pitches the Paris agreement as a platform for the U.S. to advocate using carbon capture and other high-efficiency, low-emissions technology to generate electricity from coal.

The stakes are high. The market shift away from high-carbon energy is irreversibly well under way. Not to mention every single member of the United Nations has agreed to the Paris Accord. If the U.S. pulls out, they will be the only ones. And all of the sudden, it will be 195 nations to 1 – the United States. This isn’t leading folks, it’s proving incompetence.

CNN explains the situation, “If Trump actually pulls out of Paris, in short, he will accomplish one thing: to confirm for the entire world, in a single move, that America has indeed elected an incompetent President. Even Trump is likely to figure this one out and avoid the opprobrium that would follow.”

Where will the President land? Who knows? If nothing else, he has proven to be a rather unpredictable bugger. But never-the-less, he has assembled his advisers from both sides today…

 


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