Trump will seemingly attempt to roll again local weather insurance policies associated to fossil fuels and emissions, that are the main supply of local weather change, as he did with dozens of insurance policies in his first administration.
That features eliminating a brand new federal cost for methane emissions from sure services – the primary try by the US authorities to impose a payment or tax on greenhouse gasoline emissions. Methane is the first part of pure gasoline and a potent greenhouse gasoline.
Trump has additionally promised to help approvals of latest liquefied pure gasoline export terminals, which the Biden administration tried to pause and remains to be working to decelerate.
THE MARKETS HAVE A SAY IN CLEAN ENERGY’S FUTURE
One clear vitality supply that Trump is more likely to rally behind is nuclear vitality.
And regardless of his criticism of wind and solar energy, investments in renewable vitality will seemingly proceed rising due to market dynamics, particularly with onshore wind and utility-scale photo voltaic initiatives changing into more economical than coal or gasoline.
However, a US withdrawal from the Paris Settlement and the regulatory and coverage uncertainty below Trump would seemingly sluggish the tempo of investments. The anticipated inflationary impression of his financial insurance policies is more likely to negate the advantages of decrease price of capital that have been anticipated to move by with central banks decreasing rates of interest this yr.
It’s an final result that the warming planet can unwell afford.
Dr Gautam Jain is a Senior Analysis Scholar on the Middle on International Vitality Coverage (CGEP) of Columbia College’s Faculty of Worldwide and Public Affairs (SIPA). This commentary first appeared on The Dialog.
