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Larry Kudlow, the economic guru and former adviser to President Ronald Reagan, said President Donald Trump is right to pull the U.S. out of a 2015 global agreement to fight climate change.
Kudlow said he’s against the idea of a government setting industrial policy and intervening in free markets. He pointed to the commercialization of fracking technology to drill for lower-emission natural gas as an example of private initiatives that reduce air pollution. The technical innovation was the byproduct of federally funded research, but it required entrepreneurial risk-taking and private interests to be developed, Kudlow said.
He also said that U.S. industry has taken major steps to reduce its emissions, while Germany is raising its emissions by reverting back to burning coal to meet its energy needs.
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