We have lost over 2000 square miles of our coast and this is where the majority of our population lives. The last thing in the world that i would want to do is come in and proposed solutions that will further put the folks of the representatives in jeopardy. Why we will continue saying that i think the best solution is looking at the strategies that have worked and figured out how to doubly triple down on those very things that have not caused Energy Prices to skyrocket. This whole Conference Today is about the lng pause. Whether it was a good idea or a bad idea. The motivation that we have seen just last year it sitting there talking about how the United States has an abundance of natural gas and how we actually need to use it as a tool to help out our allies did this year coming out and saying they will put a freezer bed in place. Indicating to me that there. To be some politics. Using natural gas specifically using lng exports. Looking at it as a solution. If we had simply taken one year, one year of russian gas that was provided to the European Union, one year of russian gas provided to the European Union and supplanted it with u. S. Lng, that would have resulted in a 218 millionton reduction in emissions. Not to mention Vladimir Putin helping to address the trade deficit issues, increase the economic ties with our allies and i will state again, the tune of approximately 218 million. I am out of time. I am looking forward to the congressman. Rather than letting this become an emotional issue, i think more appropriate to form the decisions moving forward. Ending the timeliness. I am open to your thoughts as well. Thanks so much. Im just really happy to be here lets start with areas of violence agreement. Unbelievable energy technology. It should be our National Interest to export those. A moral obligation or an economic obligation to make sure people have cheap and Affordable Energy in our country. And our allies around the world. Where i think i differ a little bit is i am very much, the energy that matters is the energy that makes your beer cold in your shower hot. We would never say that the purpose of the Auto Industry is to sustain our auto liners. We conflate inputs with outputs of what really matters to have access to heat affordable light and power. It is true. The United States has vastly exceeded where anyone thought we could get to the co2 reduction. I am totally with garrett on this. We should do that in a way that uses markets to innovated not direct. The deregulation of the power sector in 1992 and the quarters that followed, for the first time in our history created a world where powerplant owners could make money by saving money that did not exist prior to that point. Within a 10 year. We built 200,000 megawatts of combined cycle and 20 of the whole grid that roughly almost doubled the efficiency of the u. S. Gas grid. Nuclear fleet 60 factor to 90 capacity factored because it was cheaper now you could make money operating. Emissions 1300 pounds per megawatt hour to where we are at 900 or a little less. Largely because of that. Now, look at what happened to the u. S. Energy system. I just pulled up some numbers before i came here. Over 10 years ending 2023 because i can get that data easily. U. S. Gdp up 61 . U. S. Coal use is down 40 . Because i cannot compete. Oil uses basically flat. It bounces around. Total u. S. Oil consumption is flat. Natural gas use up about 24 . We have actually d fossilized our economy. We are now getting more with less. A higher standard of living in less dependent on fossil fuels to get there. Our homes are more efficient. Our vehicles are more efficient. That is wonderful. As well as the competitors are. Natural gas consumption up. 55 . To the natural gas act if we are going to approve these facilities, is it in the National Interest for us to drill holes in the United States , run pipes in the United States, take supply out of the United States and send it overseas if the price is right. I would argue on several occasions that i think the Biden White House what not asking that question as much as they should have before. Having this dynamic in play where even before you get to the pause, right now we export about 15 bcf a day of natural gas. Projects currently in construction will take that to 30. A huge increase. We will double that again. Projects permitted, not affected by the cause, taking that to about 41. Almost threefold increase before we ever get to the pause. The only question right now is should we do more than that. I think that that question has to take into account, you know, does it matter that the freeport export total explosion the price fell 30 because all of a sudden we had this domestic supply. There was that same terminal under repair a couple months ago you sell some in texas that were negative. It is really good for u. S. Consumers not so good for gas producers. The export capacity that is already permitted and approved has basically failed europes needs. The new capacity, i think 18 of the new contract will go to europe. 30 is going to asia and the balance is going to Commodity Traders. This is not about helping our friends in europe at this point. This is largely helping Commodity Traders and secondarily is it in the interest to provide sweeper more interest. That is a question that we can ask. We need to be honest about the mobile warming impacts here. Sitting in a coal plant and you have a burner tip with a separate with natural gas it is objectively true that gas is much cleaner. If you have more than 3 leaks in the system up to that point, gases were speared a 20 year period. I would suggest that you be looking at a 10 year Global Warming. We simply do not have the ability to track much less force that the whole Distribution System will be weak free once it leaves our shores. If you have anything more than about 1 leak of that gas after it leaves year, you are worse than coal from this perspective. We dont like that, but that is sort of the truth of where we have to sit here using to ask this. Primarily an exporter. Only 20 of production. Gas production in the country right now will go to export. Going to export because that is where the money is. Because you can make more money selling it overseas and you cannot home. If we are not honest about the impacts on price volatility, pitching u. S. To Consumer Prices to the rest of the country, reducing supply, i think we are not ending the environmental issues. The last thing i will say on technology is all of those technologies we have deployed in the United States that helped us decouple growth from fossil fuel use, those are also exportable technologies. If we think that we are worthy of those technologies, then lets also think about that. I will leave you with the conversation we had with the ukrainian parliamentarian. Coming over about six months ago , he had a job overseeing the rebuilding and construction. What people need housing in ukraine because they just got bombed . Crappy soviet cinderblock housing. We would like to build them Efficient Home speared they will take a little bit longer to build spirit we will have to figure out how to get it on the backend. That is technology that we should be thinking about. Lets flood that market with gas , not only are we doing them a disservice but we are exposing them to more volatility in the future. Thank you both. A lot to draw on both sides. I will talk a little bit about the climate considerations. There is a lot of politics on this decision. I think that is pretty evidently clear. Getting deeply involved in a lot of the reporting has been young voters. I think it is an underlying issue that is, as you said, getting very close to one and a half degrees of Global Warming. There is a fear amongst many analysts that if you overcommit to this kind of asset, it will be used for too long. You kind of made the comparison, nicole, but i love your thoughts on the long term issue. If you are trying to build a world where you are net zero by 2050 should that be important or as you say here, even on the margins it is you are suspicious that there is a climate benefit to be had. If you take the forecast, decarbonization world. They forecast even more strongly decarbonization world of countries made their various commitments. I think when you look at what they are doing on the margin look at it relative to the world that they think we are going into not relative to the world that existed 15 years ago. In those forecasts, you know, like our country, look at us. Ten years ago, 50 of u. S. Power came from cold. That is not because of the ira, it is because it is cheaper. If you build a coal plant next to a windfarm theres not a single developer that says im so nervous because they may out compete me. The reverse is very untrue. If we build assets that cannot compete against other future technologies as long as we deploy those technologies dont get outcompeted. I think the struggle is, you know, i used to joke that anyone that thinks that Energy Markets were actually capital have never tried to get a Capital Project approved in Energy Markets. [laughter] these are hugely capitalintensive products where there is a finite number of banks and entities who have the sophistication to pull those deals together. Once they are built you have a very strong vested interest in making sure you maintain the capacity factor to get your return. A very important political player in your state county and country. You tend to box out that competition. So, you know, coal would have shut down a long time ago, but for the fact that they were so good at keeping better technologies out of those markets. And, arguably, very few cold plants in this country shut down before their capital it was just there was endoflife and you have other stuff coming up. That is not because there were not other technologies out there politically, hard to fight against someone who was a primary source of property tax in your community. 3 is the number of methane emissions. It sort of makes coal versus gas wash. A 20 year Global Warming potential, correct . You decided, well, if that means beyond our shores, about 1 we need to be concerned. Kind of seeing a lower one percentage on this site. Yeah, so, you all know this. The few people that may not know this. You put a piece of methane into the atmosphere. A much more potent Greenhouse Gas than co2. It runs into an oxygen atom and become co2. After a decade it all become co2 during that first decade it is way more potent to Greenhouse Gas. You get into this academic exercise say what is a Greenhouse Gas equivalent of a molecule of methane in the atmosphere. It depends on how long you are looking. Maybe it is 10 or 15 times as potent. Twenty or 30, okay, roughly 3 . If you look over 10 years it is 80 times as potent. That is when it sits in the atmosphere. If you said there right now and you have lots of people, die near every scientist that matters, what is going to happen 50 years from now is not relevant. We know that sea levels on the gulf coast will be 2 feet higher by 2050. We have already locked that in. So, i would argue that you should be looking at that 10 year period even if you take the 3 , you know, leak rates, leak rates in the u. S. Are arguably maybe 3 . We are starting what do you think the opportunity associated is . How do you think about our responsibility and National Interest talking outside . Great question and think youre beginning to dig into the real sticking points of this. If you work to take that previous tenure. 2012 2022, he saw energy producers, methane emissions by 66 . Two thirds reduction methane emissions. Missus once again world leading. All concerns but i do think its important we look at numbers. I want to go on this a little bite, once again we cant let emotion governor, who got to get back inside so look at the Biden Administrations agency of the increase in demand for natural gas will be about 87 between now and 2050. Global demand for natural gas will go up about 57 so its right, there has been a surge in the export of natural gas the technology which is part of the department of energy study the lifecycle u. S. Lng 47 invitation. The European Union and reduction. We need to be realistic and short this demand for natural gas is coming from states because that results reductions so we can sit here and say i just think it is going to are the globe and say that all day long but if theres no math and nice to prove its an option that we are in dangerous and frankly, he responsible blocking tools help reduce will be emissions, what is the responsibility . One thing most important the Different Energy technologies. One thing to keep in mind, 17 heres from 2005 and forward. United states reduced emissions more than every other country but as we did, heres the kicker. For everyone time of emissions we produce china went up by six so what are we doing for the Global Environment . Let me say it another way during the same one taking all the developing countries, we collectively reduce missions about 15 for the same period of time. Developed countries reduce emissions over that. By about 10 . It increases the emissions team . We got to be cognizant about what is happening globally just like the one production in the United States increasing think china, we are crushing the Global Environment on the wrong trajectory and got to make sure that Solutions Globally and sure we are on the trajectory to have the entire world reducing emissions so we have 57 increase in natural gas, why are we we have the lowest density gas in the world which happens to be off the coast of louisiana and gulf of mexico reflective of the data together and im not saying we abandon wind or solar or nuclear, we need all of the above. Now pivoting a little bit but this is already part of the conversation, the growth has been enormous from zero to now the worlds leading exporter of lng and enough pipeline we looking at close to doubling and theres an obvious commercial care. I would love your thoughts on what economical domestically and internationally the will of the industry and potential impacts on prices versus commercial case which i think probably are pretty helpful in louisiana. From commercial incentive for the doe counter Market Forces the National Interest needs to be evaluated and energy rises domestically so how do you think about the National Interest in that regard compared to china and valuable resources. Number one, we have a significant reduction in Natural Gas Prices were to take the price index, Natural Gas Prices have gone down. Folks tried to use this red herring, trying to keep prices competitive. They are down below the average api are not short what problem youre trying to solve. As far as we know, we cut increase in natural gas so supply and demand thing is important but in this case there arent indications suggesting the export is causing domestic price issues so thats a second one. I think we got to be careful about politicizing this issue and lets go back and look at examples we saw this administration sank we are not going to allow the stone pipeline. He cannot be dealt because it will result in increasing emissions. The Keystone Pipeline is being produced. It didnt. Net production from is transported through means. This is what politicizing ozzie looks like its resulting and higher emissions, resulting in higher prices because of exporting and lng big uncertainty caused by the pause. In his investment and because you have to go back to the Jimmy Carter Administration could find any comparable amount of oil and gas in the United States. To put in perspective, Jimmy Carter Administration opened up leasing to 100 times more for Energy Production than the Biden Administration. Somebody may be able to correct me but i dont remember anyone saying going back to that Energy Policy so i think it is a mistake, we cant allow this to be politicized by publicans or democrat. Physical small collection on twitter who really likes sweaters and there is a niche there. Id love your thoughts on this, how to think about the domestic price issues. He said american in their interest. It is also true longterm demand can help generate i. We set on motion gas is the u. S. Continues fluency potentially downward intense pressure with a. I. , id love your thoughts on how we should be thinking about. I just want to address the history of how gas cheap. Back in 2008, are trying to finalize the deal to revert biomass and they were running the map under the assumption that natural gas 9 and debating whether to use 12 because i was the price of the time and the price came down in the forecast and i remember were caused the project to think i work for a fortune 500 company and make longterm Energy Decisions shortterm Energy Prices affect that is the reality. What was going on in 2008 . Every electric utility fo