Government

Trump’s Oil Decisions Are Bad for Planet, French Minister Says

  • Trump’s Oil Decisions Are Bad for Planet

U.S. President Donald Trump’s decisions to get two stalled pipeline projects moving again, to promote shale oil and gas production, and to remove references to climate change on the White House’s website are bad for the world, a French minister said.

“These are very bad decisions for the future of the planet,” Environment and Energy Minister Segolene Royal said Wednesday on RMC radio. “I hope they aren’t definitive. If the production of fossil energies gain in the U.S., it will contribute to global warming.”

Trump took steps to advance construction of the Keystone XL and Dakota Access oil pipelines, while demanding a renegotiation to get a better deal for the U.S. government. Trump stopped short of green lighting construction on either pipeline but put a deadline on the government’s review of TransCanada Corp.’s proposed Keystone XL to transport Alberta oil sands crude to U.S. refineries.

The moves, taken on Trump’s fourth full day in office, are a major departure from the Obama administration, which rejected the Keystone proposal in 2015 and has kept Dakota Access blocked since September. Environmentalists, concerned about climate change and damage to water and land, now face an executive branch that’s less sympathetic to their efforts. For the oil industry, it heralds more freedom to expand infrastructure and ease transportation bottlenecks.

Samed Olukoya

Is the CEO and Founder of Investors King Limited. He is a seasoned foreign exchange research analyst and a published author on Yahoo Finance, Business Insider, Nasdaq, Entrepreneur.com, Investorplace, and other prominent platforms. With over two decades of experience in global financial markets, Olukoya is well-recognized in the industry.

Share
Published by
Samed Olukoya

Recent Posts

Nigerian Firms, CEO Barred from World Bank Projects for Fraudulent Activities

The World Bank Group has announced the 30-month debarment of two Nigeria-based companies, Viva Atlantic…

20 minutes ago

Keyamo Inaugurates $10 Million XeJet Project at Nnamdi Azikiwe Airport

The Minister of Aviation and Aerospace Development, Festus Keyamo, has officially flagged off the construction…

40 minutes ago

Fresh Accusations Emerge in AMCON-Arik Air N455 Billion Debt Dispute

The longstanding financial dispute between the Asset Management Corporation of Nigeria (AMCON) and Arik Air…

53 minutes ago

Oando, 31 Others Lift NGX Market Capitalisation to N62.861 Trillion

The Nigerian Exchange Limited (NGX) began the trading week on a positive note as shares…

1 hour ago

$TRUMP Token Soars to $74 Before Dropping to $33 Amid Volatile Trading

The $TRUMP token, a cryptocurrency linked to 47th U.S. President Donald Trump, experienced dramatic price…

2 hours ago

Dollar Rallies as Trump Threatens Tariffs on Canada and Mexico by February 1

The US dollar surged on Tuesday after President Donald Trump announced plans to impose tariffs…

3 hours ago