As a consequence of Donald Trump being elected the future president of the USA there will be winners and losers. In ecological terms most definitely the winner is the fossil fuel industry especially coal, oil and natural gas drillers. Trump promised to roll back regulations and open more federal land to extraction industries. Stock prices for coal mining companies soared in Wednesday morning trading after the election win. Having a president that denies that the climate change and global warming are existing, the renewable energy sector is the biggest loser. The renewable energy stocks fell rapidly. The Danish company Vesta Wind Systems, the world’s biggest builder of wind turbines, fell as much as 13 percent, solar companies such as SunPower Corp. (USA) dropped by as much as 14 percent. The implementation of the Paris Climate Agreement is also at stake. Some delegates at the Marrakesh summit are concerned that Trump’s denial of the climate change could have a domino effect on other nations to reconsider their own position. But these are not the only winners and losers. Political and economical winners are Russia, China and right-wing populists in Europe as well as banks, the defense and steel industry. The biggest loser in all terms is Mexico. The Mexican currency had the biggest drop in more than two decades. The aircraft sector will also be negatively effected because it fears renewed trade restrictions referring to for example Iran. Politically the NATO will have hard times from now on as well as the Ukrainian president who has relied on political and financial US support.
Bloomberg, Thomas Reuters FoundationWhy not share this article?
