Climate change alarmists are panicking over the fact that Trump won the election, with green stocks taking a blow and activists getting ready for their new reality.
Trump has never bought into their delusions about manmade climate change and can’t be bullied the way liberals can into supporting their profitable green measures. Not only has he ridiculed some of their more outlandish claims in the past, but he has also promised to continue the practice of extracting fossil fuels and back out of the highly flawed Paris climate accord.
Clean technology proponents are already in damage control mode, with United Nations climate chief Simon Stiell trying to allay market fears by stating: “Those investing in clean energy are already enjoying huge wins in terms of jobs and wealth, and cheaper, more secure energy. This is because the global energy transition is inevitable and gathering pace, making it among the greatest economic opportunities of our age.”
Reuters, meanwhile, reported that Trump’s win “has darkened the outlook for a strong deal at the COP29 climate summit” scheduled for next week in Azerbaijan. The participating countries are expected to set a new target for climate aid that may surpass $1 trillion annually; climate alarmists are worried that other countries won’t provide funding if the U.S. doesn’t get on board.
Reuters was also quick to point out that he has called out climate change for being a hoax and that his policy advisers considered removing the U.S. from the UN Framework Convention on Climate Change. Many are worried that he will try once again to withdraw from it when he retakes office, which could also set the stage for other countries being reluctant to participate.
Centre for European Reform Senior Research Fellow Elisabetta Cornago implied that the outcome of the election could spell disaster for climate change funding. She said: "Pushing for more ambitious climate finance is going to be almost impossible without the U.S. buy-in, which will de-motivate developing countries from taking seriously the climate ambitions of the West."
One Latin American climate minister told the AP that Trump’s return to the Oval Office is a big setback.
“The election feels like a slap in the face to climate progress, but it won't stop the global push for clean energy. Sticking with fossil fuels is a dead end," the official stated.
Trump is expected to boost fossil fuel production
Trump has stated his intention to increase the production of fossil fuels, and he is expected to prop up the industry through regulation and potentially opening more federal lands up for drilling. He may also roll back some policies that pertain to emissions and fossil fuels, something he did during his first term in office as well. In addition, he plans to support new liquefied natural gas export terminals. This is something that Biden has been actively working against.
Climate change alarmist Sam Ricketts said that Trump’s presidency will make the planet unsafe for children.
“This is obviously a difficult result to stomach for those of us who care about our democracy as well as healthy communities and a safe and livable planet for our children. There’s no sugar-coating it: This is a gut punch,” he said.
Trump has yet to release his official climate agenda, but he has said that he will repeal the Biden administration’s Inflation Reduction Act, which spends billions of dollars on greening the economy.
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