• 5 minutes Rage Without Proof: Maduro Accuses U.S. Official Of Plotting Venezuela Invasion
  • 11 minutes IEA Sees Global Oil Supply Tightening More Quickly In 2019
  • 14 minutes Paris Is Burning Over Climate Change Taxes -- Is America Next?
  • 21 mins Alberta govt to construct another WCS processing refinery
  • 5 hours What Can Bring Oil Down to $20?
  • 13 mins U.S. Senate Advances Resolution To End Military Support For Saudis In Yemen
  • 5 hours Let's Just Block the Sun, Shall We?
  • 3 hours Regular Gas dropped to $2.21 per gallon today
  • 5 hours Venezuela continues to sink in misery
  • 5 hours OPEC Cuts Deep to Save Cartel
  • 3 hours $867 billion farm bill passed
  • 1 day Sleeping Hydrocarbon Giant
  • 1 day Sane Take on the Russia-Ukraine Case
  • 7 hours Contradictory: Euro Zone Takes Step To Deeper Integration, Key Issues Unresolved
  • 7 hours WTO So Set Up Panels To Rule On U.S. Tariff Disputes
  • 1 hour Global Economy-Bad Days Are coming

Global Energy Advisory June 2, 2017

Trump

Goodbye Paris—Hello Syria, Nicaragua

U.S. President Donald Trump has announced that the U.S. will leave the Paris Agreement on climate change. This aligns the U.S.—on this particular playing field--with two other countries, Syria and Nicaragua, outside the agreement. Odd fellows, indeed. As a reason for withdrawing from the agreement, Trump said that it aimed to hobble, disadvantage and impoverish the U.S., citing the cost of $3 trillion in lost GDP and 6.5 million jobs. He also stressed that rival economies such as China and India were treated more favorably. Though Trump said he was not unwilling to negotiate more favorable terms for the U.S., everything remains uncertain. Key signatories to the accord have ruled out any negotiations. In December 2015, United States and 187 other countries signed onto the 2015 agreement to curb carbon emissions worldwide, including the world’s top polluters – China, Russia and India. As its commitment, the Obama administration set the goal of reducing greenhouse gas emissions by 26% to 28% by 2025. Obama signed an executive order confirming the adoption of the agreement, but did not submit it to Congress for approval, leaving the door open for Trump to withdraw.

Saudi Cuts in Crude Exports to U.S., Not Really Game-Changing

Saudi Arabia is cutting its crude oil exports to the U.S. in a bid to swing the market into a more optimistic mood in the aftermath of the OPEC oil production cut extension, which…

To read the full article

Please sign up and become a premium OilPrice.com member to gain access to read the full article.

RegisterLogin

Trending Discussions




Oilprice - The No. 1 Source for Oil & Energy News