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The impact of President Donald Trump's decision to withdraw from the Paris climate agreement will differ for companies depending on what they produce and whether they have sales overseas. Formally, it may take more than three years for the U.S. to exit, but Trump said last week that his administration will stop all work on the accord immediately.
A look at some key questions about the accord and Trump's decision.
DID THE ACCORD SET RULES FOR BUSINESSES?
No, the agreement let governments decide how to meet their national emissions-reduction promises.
BUT DID WE KNOW WHICH INDUSTRIES WOULD HAVE BEEN AFFECTED MOST?
Actions of the Obama administration drew a map. Obama-era regulations such as the Clean Power Plan targeted reductions from coal and methane leakage from natural gas drilling. It reiterated tough fuel-efficiency standards for automakers.
A study cited by Trump during his Rose Garden announcement predicted that the biggest decline in production would have been in the cement, coal and steel industries, with oil and gas also losing out. Critics dismissed many numbers in the study, which was commissioned by longtime opponents of environmental regulation, but the list of target industries was probably accurate.
WILL WITHDRAWING PROVE A BOON FOR ENERGY COMPANIES?
Leaving Paris, along with Trump's other moves to roll back regulations on oil and gas producers, could spur drilling. But if that leads to lower prices by extending the glut of crude, any gain might be temporary.
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Source : http://www.lowellsun.com/business/ci_31049978/q-what-leaving-paris-climate-deal-means-business