Withdrawal from the Paris Climate Agreement was one of the first-day moves by Donald Trump, and the purpose is to keep raising already record high production of domestic energy, representing the US will no longer engage in global efforts to cope with climate change. He referred to the agreement aimed at limiting global warming as a "rip-off," arguing that it places the US at a competitive disadvantage compared to China.

While US oil and gas majors say the withdrawal decision will not help their investment plans in the global transition to green energy, it only limits the country's ability to influence the global energy transition and put them under an uneven regulatory environment. This reflects a rare different opinion between Trump and Big Oil, which was regarded to be one of his most important voters.

During recent years, oil companies have been sending management to annual UN climate conferences and claiming their investments in clean energy projects and efforts to reduce emissions. According to government data, the transition of the US power industry from coal has caused around 17% decline in US carbon dioxide emissions since 2007.