Neither the signing of the Paris agreement nor its ratification a year later had an impact on global energy stocks, according to a working paper by Thomas Sterner and Samson Mukanjari of Gothenburg University, perhaps because these events had already been priced in. Or, just as likely, markets never believed the commitments.
The farmers know something is happening to the weather, but the words “climate change” have become politically charged in a place where, like much of rural America, conservative politics dominate.
In the field, looking at his withering crop, Somerfeld was unequivocal about the cause of his damaged crop – “climate change.” But back at the bar, with his friends, his language changed. He dropped those taboo words in favour of “erratic weather” and “drier, hotter summers” – a not-uncommon conversational tactic in farm country these days.