Wednesday, November 09, 2016 12:35:34 PM
Solar panel makers plunged in New York, led by SunPower Corp., First Solar Inc. and Canadian Solar Inc.................................................................................
But Trump doesn’t need to cancel Paris to derail the climate treaty process, effectively hampering the growth of renewable energy, analysts and campaigners said.
Yukari Takamura, a professor at Nagoya University in Japan who has followed climate change talks for more than a decade, said the Obama administration took a lead that contributed “enormously” to the Paris deal. “Lack of such leadership might slow down the progress” by unsettling the investors who need to fund renewable developments, she said.
As Trump shapes his energy agenda, the first clue about his priorities could come with his selection for secretary of energy. Obama surrounded himself with policy experts and academics such as Steven Chu and Ernest Moniz. Trump has relied so far on the advice of Harold Hamm, the founder and chief executive officer of Continental Resources Inc., one of America’s largest shale oil producers.
Whoever his choice as energy secretary, the global fossil fuels industry, which over the last four years has been on the defensive with Obama, is likely to find a friend in the White House.
“The oil and gas industry is a clear winner with the new president,” said Alexandre Andlauer, head of oil at research firm Alphavalue in Paris. “U.S. Oil companies have a better future today than yesterday.”
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