As the U.S. braces for the return of a Trump administration, one thing that is certain to be in the spotlight is climate policy. Although there hasn’t been an official climate agenda released yet, the previous actions of Donald Trump during his time in office and his vocal criticism of clean energy give us some insight into what we can expect.
One major concern is the possibility of the U.S. withdrawing from the Paris climate agreement once again. This international agreement, signed by nearly every country in 2015, was aimed at addressing climate change and reducing rising temperatures. But this time, there is a risk that Trump may go even further and pull the U.S. out of the United Nations Framework Convention on Climate Change. This move would have significant implications globally and could impact how other countries approach climate action.
During the Biden administration, there was a notable increase in U.S. funding to support clean energy initiatives and help countries adapt to climate change. However, under Trump, these efforts are likely to be scaled back. This could shift the global climate leadership towards countries like China.
When it comes to clean energy policies, Trump may face challenges in rolling back the investments made by the Biden administration. Laws like the Infrastructure Investment and Jobs Act and the Inflation Reduction Act, which promote clean energy and infrastructure development, would require majorities in Congress to repeal. It’s also worth noting that these laws benefit many red states, making their repeal even more difficult.
Trump’s focus on increasing fossil fuel production and deregulation could also face obstacles due to market dynamics. The U.S. is already a top producer of crude oil, and factors like lower oil prices and slowing demand could impact the profitability of the industry.
Despite his criticisms of wind and solar power, investments in renewable energy are expected to continue rising due to their cost-effectiveness compared to traditional sources. However, a U.S. withdrawal from the Paris Agreement and the uncertainty surrounding Trump’s policies could slow down these investments and have negative impacts on the environment.
Overall, the future of U.S. climate policy under a Trump administration remains uncertain. While there may be attempts to roll back clean energy initiatives and promote fossil fuels, market forces and existing laws could present challenges to these efforts. The global implications of U.S. climate policy decisions cannot be overlooked, and the impact on the environment could be significant.