Big Oil breaks with Trump on second withdrawal from Paris Climate Agreement
Big Oil is calling on President-elect Donald Trump to keep America in the Paris climate accord after withdrawing from the accord during his first term.
The Paris Agreement, established at the UN Climate Change Conference in 2015, is a legally binding agreement between approximately 195 parties committed to international cooperation on climate change.
Trump formally withdrew from the agreement in 2020, but the US was reinstated in the climate agreement in 2021 after President Biden took office.
After winning a second term in the 2024 election, Trump is expected to consider a second withdrawal from the agreement. However, some oil companies have expressed opposition to the idea.
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A small gift-sized Eiffel Tower is seen in front of the Eiffel Tower illuminated in green with the words “Paris Agreement Done” on November 4, 2016, in Paris. Several Paris monuments were lit up in green to celebrate the first day of implementation of the Paris COP21 climate agreement. (Chesnot)
When Trump first announced plans to withdraw from the climate agreement in 2017, former Shell CEO Ben van Beurden was against the idea.
“We believe climate change is real,” Van Beurden told NPR. “We believe the world needs to go through an energy transition to prevent a significant increase in global temperatures. And we need to be part of that solution in making that happen.”
Ahead of his upcoming second term, Trump is facing renewed calls to consider leaving the international climate agreement.
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“I don't think stopping and starting is the right thing to do in business,” Darren Woods, CEO of oil giant ExxonMobil, recently told the Wall Street Journal. “It doesn't work very well. It creates a lot of uncertainty.”
Donald Trump (Alex Brandon)
Woods also suggested that it is not good for business “to have the pendulum swing back and forth as the direction changes.”
Asked about whether Trump should consider staying in the deal, the American Petroleum Institute told Fox News Digital they support the accord's ambitions.
“We have long supported the ambitions of the Paris Agreement, including global action to reduce greenhouse emissions and end global poverty,” an API spokesperson told Fox. “The US leads the world in energy production and emissions reductions, and our industry remains focused on accelerating that progress.”
The Paris City Hall lights up green to mark the disapproval of the French capital and its socialist mayor, Anne Hidalgo, against the decision of then President Trump to withdraw from the Paris climate agreement. (Emeric Fohlen)
The Trump campaign confirmed to Politico in June that the president-elect would agree to withdraw the US from the deal if he is elected to a second term.
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Fox News Digital reached out to Chevron, TotalEnergies and BP for comment but they did not respond by press time.
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