As expected on Thursday, President Donald Trump withdrew the United States from the Paris climate deal, citing the harm it could do to the American Economy. And Texas economists agree it was the right move.
Robert Henneke with the Texas Public Policy Foundation says staying in it would have hurt Texas' oil and gas companies.
“Business and industries that involve fossil fuels, smokestacks, or manufacturing plants would have had to have curtailed emissions and basically decrease production,” Henneke said.
A move like that would obviously hurt the bottom line. Economist Samuel Rines with Avalon Advisors told KTRH that simply put the US was being asked to shoulder way too much of a load.
“It would have asked a lot of the U.S. in general,” Rines stated.
Texas Senator Ted Cruz is praising the move, too. In a statement, Cruz said, "This is great news for the Texas economy and for hardworking Americans all across our country."