What the Paris climate withdrawal means for U.S. economy
SAN FRANCISCO — President Trump's decision Thursday to exit the Paris climate agreement is likely to give a small and immediate lift to the oil and coal industry, which makes good on a persistent campaign promise.
But, economist and energy experts warn, over time the controversial decision to drop out of the international pact to help stem climate change may hamper the nation's ability to financially capitalize on the globe's shift to renewable resources.
Specifically, leaving the Paris agreement jeopardizes the U.S.'s ability to be a global leader in new clean technology developments and sell those insights to a world hungry for cheap energy, experts say.
"The biggest danger in leaving the accord is you lose your seat at the negotiating table for all climate talks to come," says Shayle Kann of GTM Research, which does market analysis on next-generation energy solutions. "If you're not able to negotiate bilateral agreements, that can impact U.S. exports of our own leading edge technology."
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