Gary Yohe, the Huffington Foundation Professor of Economics and Environmental Studies, rebuts an op-ed on Fox News in which U.S. Senator Rand Paul argues for the United States to withdraw from the Paris Climate Agreement. Writing on the site Climate Feedback, Yohe explains that Paul’s opinion relies on the flawed claim that the agreement would do little to slow climate change and would cost American jobs.
Yohe breaks down Paul’s assertions regarding anticipated global warming—both with and without the agreement—as well as the Senator’s predictions that the agreement would cost the country 6.5 million in lost jobs and $3 trillion in lost GDP. Yohe contends that Paul relies only on analysis by economists who will produce numbers that support his view. Instead, Yohe points to the recent experience in both the U.S. as a whole and in California, which has a cap and trade program. Both have seen carbon emissions fall dramatically while unemployment has fallen and GDP growth has increased. “These simple economic observations contradict the Senator’s claims,” he writes.
Yohe goes on to explain why energy transformation on the scale envisioned by those who support the Paris Accord is economically feasible, and writes that renewable energy will be the growth sector of the first half of the century. For the U.S. to withdraw from the climate agreement “would reduce investment incentives in the United States. Leaving the Accord would thereby limit employment growth opportunities. It is here that the future employment of those displaced by the contraction of, for example, the coal industry, would otherwise be found.”