06-02-2017, 02:42 AM
Trump argued that he really takes care of the environment. His actions speak much louder than his words, as usual
Quote:In less than five months, Trump has reversed dozens of Barack Obama -era rules designed to preserve the environment and fight causes of climate change.
Trump has said those regulations hurt coal, oil and gas companies, limiting both their production and ability to put Americans to work. But to date, rolling back environmental regulations for fossil fuel companies has not improved company revenues or stock prices. There has been a turnaround in hiring in the extraction industries, but it is still nearly 24% below its industry high of 850,000 jobs in September 2014.
That's not surprising, as it will take years for some of these regulatory rollbacks to take full effect, if they ever do, and, meanwhile, low prices for oil, gas and coal have cut into fossil fuel company revenues. Stocks spiked, particularly for coal companies, immediately after Trump's victory. But investors appear to have lost confidence that Trump's policies can increase revenue for companies suffering from a glut in supply of natural gas or a drop in coal production that demonstrates low demand.
Worse yet for many fossil fuel companies, their stock prices show that the changes have not boosted investor confidence that coal, oil and natural gas companies will rebound in the future. And, immediately after the reports emerged that the U.S. would withdraw from the Paris agreement on Thursday, coal company stocks fell again.