Joe Biden was inaugurated yesterday as President. As promised, he signed several executive orders that undid Trump executive orders. One of those, was that Biden recommitted the US to the Paris Climate Agreement.
As this author wrote in 2017 as President Trump pulled out of the Agreement, the practical effect of the Paris accord was very small but the cost was very high.
In that piece (link provided below for ease), which is worth re-reading after President Biden’s actions, the discussion focused on objective measures which are often difficult to discuss since global warming/climate change has become almost a religion to so many people.
In short, it’s a bad agreement because: 1) China and India, the world’s two largest ‘offenders’, are not required to do anything on emissions for a decade. 2) the US is required to foot the bill for several other countries to the tune of tens of billions of dollars, 3) it will cost the US economy an estimated trillion dollars is lost jobs and compliance expenses and 4) all of that is estimated, even by ardent environmentalist, to reduce the rate of increase in temperature by ONE DEGREE. A pretty hefty price for one degree, even if everything works as well as proposed and every country completely complies.
Forget Paris. At a time our economy has already taken a big body blow, even if it were a good agreement now is not the time for the economy to take another hit.