Donald Trump’s struggle to abolish mitigation and scrapping Paris Agreement may eventually lift oil prices, says Professor Klaus Mohn.
In an interview with newspaper Stavanger Aftenblad he says that Trump’s electoral victory could be a disaster for climate policy.
– Apparently, Trump implies his victory in the presidential election as a setback for international cooperation on climate policy, says Mohn.
During the election campaign Trump has promised both to scrapping Paris Agreement and suspend US climate. If he seriously does this, then other countries will be less eager to cut greenhouse gas emissions.
And if interest in green technology would become smaller the need for oil will be higher. More international turbulence can also help to raise oil prices.
– In the longer term as a reversal of climate policy lead to higher demand for oil and gas than we otherwise would have received, says Mohn.
Source: NTB scanpix / Norway Today