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Afternoon Note

Paris Accord Unwinding
By Charles Payne, CEO & Principal Analyst
5/31/2017 1:14 PM

Question of the Week

Do you think President Trump should pull out of the Paris Climate Accord?

Post your answer below.

Reports that President Trump may pull America out of the Paris Climate Accord is pressuring energy companies as concerns mount about financing for projects if the country with the deepest pockets walks away.

It’s a terrible deal to begin with that sees the United States forking over close to $200 billion and tamping down on economic growth, while China and India get the green light for unlimited growth and pollution.  Moreover, it’s a terrible deal for third world countries that accepts bribes in return for growing their economy slower.

The Van Eck Vectors Coal ETF was already under considerable pressure after galloping out the gate in 2017, and in the past month, the ETF is off 7.79%.  Note: there are only two US names in the top ten holdings as the majority are China 25.7%, Australia 17.4%, Indonesia 13.7% and Canada 12.4%.

I think these names are oversold, but lingering political uncertainty stops me from adding to names.

http://markets.money.cnn.com/cgi-bin/upload.dll/file.png?z07ec110az5347f6a84a52465f8995f2005b62983f

Another part of anxiety is the fact that America, as promised, is moving out of large global deals that facilitate local and international economies.

Late yesterday, Wilbur Ross said he was ready to talk about large mega-trade deals. 

Dumping bad deals is what the American public wants and allows for better deals.  The next 48 hours shifts back to the economy with the jobs reports from ADP and the Bureau of Labor Statistics.

Let’s hold off for the remainder of the day.


Comments
no

jerry reaume on 5/31/2017 1:22:42 PM
Pull out and renegotiate something better,
I don't dismiss CO2 risk and agree valid reasons exist to reduce emissions. But the Paris accords were ineffective at actual CO2 reduction and are more about putting the US at competitive disadvantage and advancing socialism.


Dave on 5/31/2017 1:28:27 PM
Yes of course get out. It's silly to think of staying in.

nick on 5/31/2017 1:36:00 PM
Yes. And also the U.N. while at it.

JStovall on 5/31/2017 1:40:58 PM
Crap ass deal since when have we ever come out on top in these deal France and everyone else in Europe can piss up a rope

marc miller on 5/31/2017 1:43:51 PM
Paris Accord - YES - Get out of!

TOM HOLCOMB CPA on 5/31/2017 1:43:58 PM
Get out as fast as possible!

Arthur Carlson on 5/31/2017 1:45:20 PM
It is about time the sucking sound from the American economy of job loss ends. This is a horrible deal that must be stopped!

John Pastor on 5/31/2017 1:56:17 PM
absolutely,NOW

charles thomas on 5/31/2017 2:24:08 PM
Pull OUT OF THE PARIS CLIMATE ACCORDS.


IMMEDIATELY!

Al M. on 5/31/2017 2:35:38 PM
Agree with those above who say we need to get out of Paris agreement & let Wilbur Ross negotiate....he is soooo smart & an absolute Rock ⭐️ Star IMO!

Sue on 5/31/2017 2:40:16 PM
Yes, pull out, j

Jim Chaltas on 5/31/2017 3:06:28 PM
So Elon Musk pulls out of Trumps advisory board should we walk away from the Paris Accords. Let Elon Musk focus on getting California to give him permits to do the hyper loop, that might give him an insight into how insane governments are. Goodbye Elon!!

K Makinney on 5/31/2017 3:28:36 PM
It's about time!!!

AJ on 5/31/2017 4:41:30 PM
It would be nice to see an accord that directly hits Indonesia's deforestation, manic monoculture, reckless dumping into everybody else's country [like the Tijuana River and the filth Mexico keeps pouring into San Diego], something about smog in emerging countries, in a real way.

Patricia Flynn on 5/31/2017 5:05:07 PM
Pres. Trump should withdraw the U.S. from the Paris accord and renegotiate a new and better commitment from all major countries. If no China and India commitment, then no U.S. commitment. We are all in it together or we're not in it at all.

Jack Shafer on 5/31/2017 5:42:50 PM
Get out. It is just another crap deal like the UN and many more.

Dan Tackitt on 5/31/2017 6:20:10 PM
We never should have been in it in the first place, YES, OUT NOW !!!!!

kev on 5/31/2017 7:35:09 PM
Get us out of the Climate agreement

Stan on 5/31/2017 10:04:05 PM
Yes, pull out. There is very limited advantage to the USA to remain in such an organization. But do check out the benefit of a seat at the table.

Hank Willen on 5/31/2017 10:35:37 PM
GET OUT and stay out of ALL THINGS that involve BIG CONTROL of us that want OFF THE ROAD TO SERFDOM. Please and Thank You John

John on 6/1/2017 12:15:12 PM

Absolutely, pull out must be done

joekeefer on 6/1/2017 1:16:30 PM
Absolutely, yes. We do not need to pay for the countries who are pouring pollution into air and water and lose thousands of jobs

Penelope Smith on 6/1/2017 3:11:40 PM
Agree with the pull out. Also the self serving clown that Bloomberg used to trash Trump was a joke. He was only promoting his industries.

Larry Walker on 6/1/2017 7:04:39 PM
I feel that he is correct, time to make the playing field more even. Why shouldn't India and China begin pollutant reductions now?

Bert Pulitzer on 6/2/2017 11:01:26 AM
I think Trump was the only person who actually read it! Sort of like the ACA, "you have to pass it to find out what a disaster it will be!"

Piper Pilot on 6/2/2017 11:57:08 AM
Yes the President did the correct thing!

Larrystory on 6/2/2017 12:27:51 PM
I agree with Mr Trump.We are suppose to believe these country to do what thae say. We are still waiting for 2% for NATO from these very same country.

John Foltz on 6/2/2017 3:33:09 PM
Absolutely. The USA should no longer bankroll green energy fat cats getting rich. Elites fly their private jets and complain about CO2 emissions. Look in the mirror. Unfortunately, I live in Phoenix and our Dem mayor is going to go against the country and stick us with a bill Hopefully, the people will wake up.

Bo on 6/2/2017 7:22:57 PM
This is outstanding/What happen to the Epi-pen CEO and her mother in the FDA and father in congress story

rowland neil on 6/3/2017 3:57:34 PM
yes and the UN too

Vin Bonto on 6/5/2017 10:40:43 AM
It was a smart move by the President. Now it's time for the Congress-Especially John MCCain- to get on board with the Prsidents's agenda ! I'm ready to hire and get going.....

Prussia on 6/5/2017 6:44:27 PM
Yes, he should pull out - for all the obvious reasons. We throw away SOOOO much money on nonsense just to 'look good' or 'feel good'.

Tom Johnson on 6/9/2017 10:46:07 PM
This global warming Paris Accord is nothing but a scam to transfer monies from richer nations to poorer ones. NO BENEFIT to this nation and great benefit to poor nations who need the money. No change in weather patterns, as well. Trump was smart to pull us out.

Terry Blackwood on 6/11/2017 7:52:35 AM
YES

Bill Lawrence on 6/13/2017 11:32:25 PM
Yes, I am glad he pulled out because it costs us too much money, is not enforceable, we already have the best climate control.

Evelyne Mitchell on 6/14/2017 10:50:29 PM
Yes, warming yes, man made not so much.

Ray Marks on 6/16/2017 7:45:49 AM
Falsified data, exempts biggest polluters, US PAYS $ to violators, Solar science now shows cooling cycle in play, so YES! Get out now!

Lonnie on 6/16/2017 9:19:52 AM
When the world catches up with the reduction the USA has done then we can talk about it........


Waltski on 6/19/2017 12:35:21 PM
Yes, definitely GET OUT, and then get out
of the UN

Jerry on 6/21/2017 11:28:08 PM
Yes... get out!! Methane leaches into the atmosphere from the oceans and permafrost. Methane is 100 time more destructive to out atmosphere than carbon emissions. also... The Pacific Ocean temperature is warmed primarily by magma from under water ground faults that extend from South America all the way to the North Pole. World wide weather is controlled by ocean temps and there simply isn't enough heat in the earth's atmosphere to warm the ocean water, especially not like the magma being forced through the under water mantle faults. Our country has done an exemplary job keeping it's water and air clean. The rest of the world should do we have done!!

Rsaunders on 6/22/2017 10:37:31 AM
YES! OUT! MAGA!!!!

Taddio on 6/23/2017 12:10:11 AM
 

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