The Possible Reasons Big Corporations Are So Eager for Trump to Break His Promise on Paris Climate Deal

The Daily Signal discusses the Paris Climate Agreement with Myron Ebell.

European countries and major corporations are pressuring President Donald Trump to remain in the Paris climate agreement despite his promises on the campaign trail to withdraw the United States from the Obama-era deal that never gained congressional approval.

The Trump administration so far is sticking with being undecided—at least until Trump returns to the United States from his first foreign trip, where on Friday, he’s meeting with Group of Seven ally countries, which support the agreement.

Back home, the pressure is growing from multinational corporations, even the energy sector, which have opposed stricter limitations on carbon.

Exxon Mobil Corp., once run by Trump’s secretary of state, Rex Tillerson, Royal Dutch Shell, and BP are urging the administration to remain in the agreement. Meanwhile, coal mining company Cloud Peak Energy urged the administration to remain.

“BP and Shell are European companies and it’s impossible to do business in Europe without towing the political line,” Myron Ebell, director of the Center for Energy and Environment at the Competitive Enterprise Institute, told The Daily Signal. He added that for oil and gas companies, “the only way to get the price of gas back up is to kill coal. The Paris Agreement kills fossil fuels, but it kills coal first.”

Ebell was part of Trump’s transition team overseeing the Environmental Protection Agency.

The Competitive Enterprise Institute sponsored an ad showing Trump during the campaign saying, “We are going to cancel the Paris climate agreement and stop all payments of the United States tax dollars to U.N. global warming programs.”

Read the full article at The Daily Signal.