My Second Favorite Economist

Larry Kudlow: Nixing Paris accord means 'the war on fossil fuels is over'

Larry Kudlow, who served as an informal economic adviser to President Trump's campaign, is praising Trump’s decision to pull the U.S. out of the Paris climate accord, arguing it effectively ends “the war on fossil fuels.”

“Like [former President] Obama, the Europeans hate fossil fuels. It is a war on fossil fuels,” Kudlow, a CNBC senior contributor, told John Catsimatidis in an interview that aired Sunday on AM 970 in New York.

Kudlow went on to target German Chancellor Angela Merkel, who has been a vocal critic of Trump’s environmental policies.

“They made a big bet on renewables. Wind, solar, etc. And guess what? The bet failed,” he said, referring to the economic powerhouse’s commitment to renewable energy.

“Ironically, the queen of climate change is producing huge volumes of coal,” he added.

The former economic adviser argued that renewable energy sources were not enough to sustain the economy.

“So Trump is saying, 'I’m here to defend America, and we are going to continue our explorations and our technology. We’re going to strive for clean coal, we’re going keep natural gas fracking, we’re going to keep oil, etc.' The market loves that because the market wants growth,” Kudlow said.

The Hill