Rumors are that President Trump will be pulling the United States out of the Paris agreement addressing climate change. There has been a lot of nonsense vomited out of my television regarding this possibility.
Companies and CEOs from Facebook, Tesla, and Google have come out against the United States pulling out of the climate change agreement. These business leaders claim it will harm innovation and our companies competitiveness. However, the Paris agreement is nonbinding. Thus, there is no way for its previsions to be enforced.
So how exactly can pulling out of a nonbinding unenforceable agreement harm innovation or the development of new technologies? Answer, it cannot. Nothing is stopping Facebook, google, or Tesla from developing new green technology. In fact, we are constantly told the use of dirty technology like coal no longer make sense.
So if the Paris agreement is unenforceable, and market forces will ensure on their own dirty sources of energy will not be used, what is the harm of pulling out of the Paris agreement? The answer is, nothing. CEOs coming out with dire predictions resulting if Trump pulls out of the Paris climate agreement are bogus.