French poet Jean Cocteau wrote, “In Paris, everybody wants to be an actor; nobody is content to be a spectator.” The 195 nations that have signed onto the Paris Agreement, a piece of paper within the United Nations Framework Convention on Climate Change, are portraying themselves as environmental warriors who will do whatever they can to stop climate change by giving globalists buckets of tax dollars. Trump is perfectly content to be a spectator and allow these countries to waste finite resources, appease the UN, and concentrate on his own country’s environment. Two years after President Donald Trump announced he would withdraw the U.S. from the 2015 Paris climate agreement, the White House is making the decision official. Hey, if that perturbs Al Gore and Greta Thunberg, then it is another victory.
We’ll Never Have Paris
Secretary of State Mike Pompeo confirmed that the U.S. government had submitted a formal notice to the United Nations that initiates the year-long process. It is set to become the first nation to exit the arrangement. According to the rules, a country is prohibited from pulling out in the first three years after the November 4, 2016 ratification. Pompeo stated that the international climate deal serves as an “unfair economic burden” to the U.S. economy, adding that the nation has made significant strides in reducing its carbon emissions.
Under the climate accord, member nations would need to contribute to the commitment of $100 billion a year for the United Nations Green Climate Fund by next year and institute various carbon trading schemes. In a statement, Pompeo said the U.S. will rely on its efficient energy technologies and “offer a realistic and pragmatic model” that can “lead to greater prosperity, fewer emissions, and more secure sources of energy.”
Prior to the official withdrawal, President Trump appeared at an energy conference in Pittsburgh, PA, and described the Paris deal as “terrible,” “one-sided,” and “a total disaster for our country.”
He told attendees:
“The Paris Accord would’ve been a giant transfer of American wealth to foreign nations that are responsible for most of the world’s pollution. Our air right now and our water right now is as clean as it’s been in decades.
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. They were allowed to do what they were doing.”
Was the president correct?
The Economics of Paris
If there were one framework on which President Trump could receive bipartisan support, it would be the Paris agreement – in theory. It is a globalist policy that hurts the impecunious and helps the politically connected, much like the Trans-Pacific Partnership (TPP). Contrary to what the press says, the climate deal is an odious initiative that will do nothing to help the planet. The only thing it will achieve is lining the pockets of those close to the spigot and making politicians appear benevolent.
One obvious consequence of the pact is that it raises energy costs for U.S. households. The top goal of the deal is to push countries into using renewable energy sources, such as solar and wind power. Unfortunately, studies have found that electricity generated from renewables costs as much as five times more than power created from current sources, so get ready to pay more for heating or cooling.
Paris imposes burdensome regulations on a whole host of industries, particularly producers. These regulations increase the cost of doing business, which causes higher prices, less employment, and a decline in investment for capital goods to manufacture products that consumers demand. In the end, the long-term output will fall and create a series of problems, from employees earning less money to fewer opportunities. Remember, corporations can absorb regulatory costs, but it is the small- and medium-sized businesses that cannot.
Finally, and here is what the left should object to, the agreement coalesces wealth redistribution and cronyism. Under the Paris umbrella is the UN Green Climate Fund, a pool of money that is transferred to developing nations so they can acquire and construct green energy infrastructure. If you are a well-connected business, then you can earn millions by selling green technology to these markets – Liberty Nation has documented the cronyist nature of the industry. What’s worse is that taxpayers would be on the hook for it, too!
Immediately after Trump’s announcement 2017, the mainstream press and progressive officials said that doomsday was nigh. According to Rep. Alexandria Ocasio-Cortez (D-NY), we have 12 years to live. To prevent this from happening, we must abandon national sovereignty and do what the UN thinks is best.
Much Ado About Nothing
Remarkably, the U.S. has achieved two things by shunning the globalist initiative: energy independence and a decline in carbon emissions. The country is now a net energy exporter, thanks to the shale revolution. It has also seen its CO2 emissions plunge to 30-year lows, thanks to the shale revolution. What about those nations that have been chained to the pact? They have accomplished nothing. Well, except virtue-signaling to the rest of the world and living by Saint Greta’s 10 Commandments, including: Thou shalt not irk our globalist overlords.