How much of Trump’s speech on exiting the Paris Accords was true?

It was an amazing concoction of false statements and misleading or invalid statistics.   Of course, this is Trump’s style.  The transcript of the speech is shown below:

Transcript of the speech

In fact, it is hard to find anything remotely honest in the entire speech.  All the dire economic consequences of the Accords were from an outside consulting study (NERA)  based on  highly unrealistic set of assumptions. The NERA study had other scenarios with more realistic assumptions.  It was produced in March 2017 and paid for by a conservative political organization.    None of the economic projections were  based on EPA studies.  Other studies  have repeatedly shown many positives to our economy, including  investments in clean energy will  create many high paying jobs.

It would have been a simple  2 minute speech if it were a honest one, as it would read, “Steve Bannon and the extreme conservatives don’t like the accord, because like the UN itself, we spend money to help solve the world’s problem.  Plus, global warming isn’t like crime in the streets; it doesn’t make big headlines in the news.”

Trump began his speech by mentioning the  casino attack in the Philippines as  a terrorist attack.  It was a botched robbery according to police.  But, at the time of the speech, ISIS had claimed responsibility, as they are prone to do with almost  any mass killings.  So, Trump has as supporting evidence, only ISIS.

Trump mentioned a long list of achievements, which really overlap with the Obama administration.    The job increase was really inline with gains in employment seen from about October 2016 until now.  Nothing remarkable.

The word “Global Warming” was not in Trump’s speech, nor is there any admission of a problem of our carbon emission.  His line, “I was elected to represent the citizens of Pittsburgh not Paris” received applause from those gathered in the Rose Garden.   The Paris Accord is a world agreement of 193 counties which could have been agreed upon in Pittsburgh.

It is a voluntary agreement, where each country makes pledges or commitments to reduce their own emissions.  Some environmentalists were disappointed at how low the targets were, but at least there were these basic elements (1) Admission that a global problem exists (2) Carbon emissions by the 193 countries can be monitored and reported to the United Nations (3) Each country is free to determine how they will reduce their emissions and (4) Developed countries will each set up a “Green Fund” to assist undeveloped countries in developing technology and programs to produce clean energy.

The citizens of Pittsburgh will pay more for food,  along with the rest of the US, as flooding and violent storms increases due to global warming. To keep our farms functioning,  taxpayers will continue to subsidize crop insurance, right now about 26 billion dollars.  It’s going to get a whole lot worse.  Sea levels will rise and places like Florida will have a difficult time with their fresh water supply.

With the dismantling of the Clean Power Act, solar energy investments will slow and jobs will be lost.  Coal employment (~60,000 employees) is not going to recover because power plants will use natural gas.   A good example is Cloud Peak Energy, which had a market cap of 500 million on November 7, 2016, now is reduced in half to 250 million.   Peabody Coal came out of bankruptcy on April 10, 2017 and so far has lost about 10% in market value  (market cap losses = 235 million dollars).

I saw on the news last night, a wonderful woman from West Virginia saying, “I’m not a climate change denier.”

Now the fact checking:

Factcheck.org

Politifact.com

The  economic statistics were generated in March 2017 by a consulting firm, which Trump pulled some statistics based on some extreme assumptions.

The Paris Accords were terribly miss  characterized by Trump.  Each country has pledged targets for carbon emissions and it is up to each country to develop programs or technologies to achieve these goals. Some countries are doing well in achieving their target goals.

I like how Politifact.com described the economic statistics:

Trump cited a number of negative statistics about the predicted economic impact from the climate deal, including a $3 trillion drop in gross domestic product, 6.5 million industrial sector jobs lost and 86 percent reduction in coal production, all by 2040.

Take these statistics with a grain of salt.

It’s just more BS, to be honest.

Politifact.com  and factcheck.org  websites found very similar dishonest statements.

Economic statistics:  Based on a flawed study

The statement, “China will be allowed to build hundreds of additional coal plants. But, we can’t build the plants, but they can, according to this agreement.”  is not in the agreement.

Statement, “At 3-4% growth, as I expect, we will need all forms of American energy, or our country will be at grave risk of brownouts and blackouts.”

A growth rate of 3 to 4% hasn’t happened in the last 12 years.  The red hot economy of 2005 ended with the collapse of housing market in 2007, and the recession lasting through 2009.  What seems immensely absent in the speech, is that fossil fuels are non-renewable fuels. Their extraction is becoming more expensive not because of regulation, but because we have used up so much of the easy to extract fossil fuels.

Global warming needs carbon emissions monitoring and goal setting.  Obama set this in motion.  Trump just denies the problem exists.  Trump is not making the country great.  He is making China great by sacrificing our technological leadership in clean energy.   June 1, 2017 was a disgraceful day, as we exited the world accord on global warming with a speech with a rapid fire series of flawed statistics and dishonest conclusions.

Stay tuned,

Dave

 

 

 

 

 

 

 

 

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