Politics and investment
Trump wasted no time in starting to dismantle the Obama restraints on coal, oil and gas exploration and development.
Though at the time of writing, Mr Pruit had yet to be confirmed as EPA Administrator, his influence is already apparent. Mr Pruitt has rolled back EPA measures that were forcing closure of coal generators by limiting their emissions. And he has indicated that he will cease to allow California a waiver to continue pushing the envelope with stiffer auto emission requirements. That policy has brought a $500 million cross subsidy to the Elon Musk companies that have sold emission rights to other car companies; Mr Musk is disappointed that the boondoggle might be cut back.
And the Senate is moving to block EPA regulations that would impose additional costs on coal and gas generators by forcing them to monitor streams and limit methane venting. EPA has also been forced to close down its climate change propaganda.
Myron Ebell, who led the EPA transition team, has called for the agency to be shrunk by two thirds, while Richard Lindzen has counselled the Trump administration not to simply rechannel funding on climate science, claiming the profession is now too rusted-on to the doom laden philosophy, and urges that spending on climate research instead be slashed by 80 per cent.
Myron Ebell also confirmed that Trump would pull out of the Paris agreement and visited Number 10 Downing Street to provide a briefing. But United Nations climate chief, Patricia Espinosa, has warned President Donald Trump against pulling out of the Paris agreement. The ex-diplomat apparently kept a straight face when she said, "Ultimately, this is about the competitiveness of the United States".
Demonstrating the gulf between the global elites and popular opinion, the 2017 Davos meeting increased its focus on climate change with some 20 sessions devoted to it and an exhibition highlighting it as bringing calamities, "from rampant emissions to rising sea levels". Polling of the 600 delegates showing that climate chnage had become the number one issue ahead of “involuntary immigration” and terrorism. Sharing the “Davos man” view is the European Environment Agency (EEA). Its latest report says we have to act soon to avoid rising sea levels, intense heatwaves, flooding, droughts, storms and increasingly extreme and frequent freakish weather.
Clean energy investments are not likely to save us. Globally they seem to have stalled, falling 18 per cent in 2016 (though there may be an increase obscured by the falling price of some of the technologies which however remain three times more costly than coal).