27 April 2024
ANALYSIS: Shale economics trump US withdrawal from Paris climate accord
Publication date: 02 June 2017
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As the media storm continues to rage around US President Donald Trump’s decision to withdraw from the 2015 Paris climate accord, it is largely business as usual for US energy markets and the country's booming shale industry.
Trump’s live statement on Thursday – scrapping his predecessor's “deal that punishes the United States” and halting further US contributions to the Green Climate Fund – was perceived by a selection of gas industry experts consulted by Gas Matters Today as little more than symbolic "grandstanding" by the leader of the free world.
Looking beyond Trump’s questionable rationale for quitting the accord and the political ramifications of his abrasive rhetoric, sources on both sides of the Atlantic struggled to see how the contentious decision would alter the broad outlook for energy markets in the US or overseas.
They pointed to the simple economics of cheap and abundant US shale production overriding ...