Citing peer-reviewed data, he has concluded that market forces, global momentum, private sector switchovers, and a growing economy will prevent coal from ever making a comeback.
“This should not be a partisan issue,” Obama writes. “It is good business and good economics to lead a technological revolution and define market trends.”
As he carefully references in his piece, constructing and running wind and solar power plants is increasingly cheap. On a small scale, this technology is even available for homeowners to purchase. This will continue because the market dictates that it will, and Trump can’t do anything about this.
The cost of extracting oil and coal from federal lands, and the associated financial risk that comes with any environmental damage in doing so, is also now too high for many companies. It’s not a good investment to make anymore, and companies like Shell and even ExxonMobil are beginning to switch to focus more on natural gas, solar, and wind power.
“We have long known, on the basis of a massive scientific record, that the urgency of acting to mitigate climate change is real and cannot be ignored,” Obama adds.
“Despite the policy uncertainty that we face, I remain convinced that no country is better suited to confront the climate challenge and reap the economic benefits of a low-carbon future than the United States and that continued participation in the Paris process will yield great benefit for the American people.”
Obama points out that if the rest of the signatories to the groundbreaking climate pact continue on their course of mitigation – as they have all committed to despite Trump’s ascension – then renewables will continue to proliferate. He agrees with the agreement’s participants that “momentum is irreversible.”
The future's already here. kesipun/Shutterstock