President Joe Biden recently recommitted the U.S. to rejoining the Paris climate agreement, an agreement that promises devastating economic costs, with essentially zero environmental benefits. “To have any impact whatsoever on climate, the entire world would either have to quickly change the way it consumes energy or simply remain undeveloped. Policies adapted from domestic regulations emphasized in the Paris agreement will affect a variety of aspects of the American economy. Based on regulations and emissions reduction targets set by the Obama administration, Heritage economists estimate that by 2035 there will be: an annual average loss of nearly 400,000 jobs, a total income loss of more than $20,000 for a family of four, and an aggregate GDP loss of over $2.5 trillion – all for a few tenths of a degree Celsius in abated warming,” says report author Nick Loris.
