Investors bet Trump climate withdrawal to boost US drilling

AP, London: The price of oil has fallen sharply as investors bet that President Donald Trump's decision to pull the United States out of the Paris climate agreement will increase the country's oil and gas production. The cost of a barrel of crude slumped 2.4 per cent, or $1.18, to $47.18 in electronic trading in New York on Friday, hours after Trump said the US would immediately stop implementing the Paris deal. He said his administration could try to renegotiate the existing agreement or try to create a new one that is more favorable to the US.
The deal would have required the US to reduce polluting emissions by more than a quarter below 2005 levels by 2025, potentially limiting the growth of high-emissions industries like oil and gas production. Economists, however, say that the climate deal would likely help create about as many jobs in renewable

Investors bet Trump climate withdrawal to boost US drilling

AP, London: The price of oil has fallen sharply as investors bet that President Donald Trumps decision to pull the United States out of the Paris climate agreement will increase the countrys oil and gas production. The cost of a barrel of crude slumped 2.4 per cent, or $1.18, to $47.18 in electronic trading in New York on Friday, hours after Trump said the US would immediately stop implementing the Paris deal. He said his administration could try to renegotiate the existing agreement or try to create a new one that is more favorable to the US. The deal would have required the US to reduce polluting emissions by more than a quarter below 2005 levels by 2025, potentially limiting the growth of high-emissions industries like oil and gas production. Economists, however, say that the climate deal would likely help create about as many jobs in renewable