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Trump and Paris withdrawal: good news for coal?

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World Coal,

US President Donald Trump has withdrawn the US from the 2015 Paris Climate Agreement, citing the agreement would damage the US economy, reduce job prospects and place the nation at an inferior level compare to other countries.

“We’re getting out […] We don't want other leaders and other countries laughing at us any more. And they won't be,” he commented.

The US now stands with Syria and Nicaragua as non-participating countries.

“In order to fulfil my solemn duty to the United States and its citizens, the US will withdraw from the Paris climate accord, but begin negotiations to re-enter either the Paris accords or a really entirely new transaction, on terms that are fair to the United States,” Trump continued. “We will start to negotiate, and we will see if we can make a deal that’s fair,” Trump said. “If we can, that’s great. If we can’t, that’s fine.”

Paul Bailey, President of the coal lobbying organisation American Coalition for Clean Coal Electricity, welcomed the announcement: "We support President Trump's decision to withdraw from the Paris agreement," he said. "Meeting President Obama's goal would have led to more regulations, higher energy prices, and dependence on less reliable energy sources."

Murray Energy Chief Executive Robert Murray also remarked: "In following through on his promise, President Trump is supporting America's uncompromising values, saving coal jobs, and promoting low-cost, reliable electricity for Americans and the rest of the World."

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