March 31, 2017
Trump administration officials are reaching out to energy companies to gather input on what action they should take regarding the Paris climate agreement according to a March 15, 2017 report from The Hill.
Two officials told Reuters about the effort to seek input from energy companies, though they declined to name the companies being contacted. One source said “publicly traded fossil fuel companies” are being contacted, according to Reuters.
Many of the firms are telling the administration that they want the United States to stay in the landmark 2015 pact, but to dial back former President Obama’s commitment to cut greenhouse gas emissions, Reuters reported.
Obama pledged that the United States would cut its emissions 26 percent to 28 percent by 2025. The pact included nonbinding emissions limits contributed by nearly 200 nations.
Trump promised during the presidential campaign that he would “cancel” the agreement, a central piece of his energy platform.
But he has yet to take action on it. Secretary of State Rex Tillerson wants the nation to stay in the pact, and Trump’s elder daughter, Ivanka, and adviser Jared Kushner are reportedly pushing him to stay in it as well.
Trump is being pressed by people like adviser Stephen Bannon and major conservative groups to pull out of it entirely or submit it to the Senate as a treaty, which would nearly guarantee its rejection.
Major international oil companies like Royal Dutch Shell, BP and Statoil support the agreement. Domestic oil majors Exxon Mobil Corp. and ConocoPhillips Co. also back it, while smaller United States oil companies oppose it.
Oil companies that also produce natural gas could see more business if the Paris accord causes a major switch from coal use to gas for electricity generation.
What this means to you
Trump administration officials are reaching out to energy companies to gather input on what action they should take regarding the Paris climate agreement One source said “publicly traded fossil fuel companies” are being contacted.
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