[inaudible] good afternoon and welcome to the Heritage Foundation. Welcome for those who will be join us at book to be on a future occasion. We ask everyone in house to be courteous and check that you are mobile devices have been silenced or turned off. For those online or in the future youre welcome to send your questions or comments to us at any time email speaker at heritage. Org and will post todays program on the homepage for everyones future reference. Were pleased to be cohosting this with our colleagues and allies at the Texas Public Policy Foundation which kathleen is a fellow. Introducing our Program Energy centered gases mrs. Dunlop as a conservative Movement Leader she serves as chairman of the conservative action project, leads heritage restore america project, advocates for american conservation ethics and advances energy and natural resources, and policy in general. She serves on board member for numerous Public PolicyBoard Members and organizations. She was heritage Vice President for external relations, prior to joining us she served in the cabinet of governor george allen as secretary of natural resources. She is is also held significant roles in the Reagan Administration as a Deputy Assistant to the president , president ial personnel and later on his special assistant and director of his office of cabinet affairs. She also served served as Senior Special assistant to general edward neese and particular to todays program as deputy undersecretary the department of the interior as well as the assistant secretary for fish, wildlife and parks. Please join me in welcoming my collie, becky norton dunlap. Let mac. Thank you so much it is a pleasure to see all of you here today. This is an exciting day, its always always exciting when good friends and great people turn out great books. We have one today that we are going to be introducing two. It is my pleasure to introduce both of our coauthors for today and ill introduce them both and asked them to come to the podium and make their remarks and will have time for questions. Our verse coauthors kathleen white. She is a distinguished senior fellow resident and director of the Armstrong Center for energy and the environment at the Texas Public Policy Foundation. Prior to going with the foundation she served a sixyear term as chairman and commissioner of the Texas Commission on environmental quality. With with regulatory jurisdiction over air quality, Water Quality water rights and utility storage and disposal of waste, pc eq staff of 3000 with an annual budget of over 600,000,016 regional offices makes it the secondlargest Environmental Regulatory Agency in the world after the u. S. Environmental protection agency. It is our goal in the nottoodistant future to make it the first largest in the world prior to governor to the appointment of white in 2001, she served as then governor george bushes appointed to the Texas Water Development board where she sat until appointed to the ceq. She also served on the Texas Economic Development commission and the environmental flows study commission. She recently completed her term has an officer and director of the Lower Colorado river authority. She now sits on the Editorial Board of the journal of revelatory science, the texas Emission ReductionAdvisory Board in the texas water foundation. Her writing has appeared in numerous publications including National Review investors business daily, washington examiner, and major texas newspapers. I might say parenthetically she is also a contributor contributor to the Heritage Foundation study, the eight principles of the american conservation ethic which i hope you all have a copy of, its good good reading before todays books release. She most recently testified before the u. S. Senate environment and public works committee. Perhaps most important lead to me, she is a dear friend, longstanding we met when we are children in washington d. C. Fighting for liberty, she continues to be a great warrior for liberty. Our other coauthor mr. Stephen moore, everyone knows steve moore, he is a television star, we we see him a lot on television these days on the radio we like to listen to him, he formally wrote on the economy and Public Policy for the wall street journal and he is now a distinguished visiting fellow for the projects of Economic Growth here at the Heritage Foundation. It was a member of the journals Editorial Board and he returned to heritage in 2004 about 25 years after he first served here. 2014. It was 2014. About 25 years after his tenure with Grover M Herman fellow and budgetary fairs from 1984 until four until 1987. He also founded and served as president as the club for growth which raises money for political candidates who favor free market economic policies. He also founded the Free Enterprise fund before joining the wall street journal. Over the years he has served as the senior economist at the Congressional Joint Economic Committee and as a senior economics fellow at the Cato Institute where he published dozens of studies on federal and state fiscal policy. It was also a consultant to the National Economic commission in 1987 and Research Director for president direct reagans commission on privatization. He is a fax news contributor along with writing regularly for National Review, forbes investor ms. Business daily, the Washington Times and the Orange County register. He holds a master of arts in economics from george mason university. He has offered numerous books including who is the fairest of them all, its Getting Better all the time, still an open door and an inquiry into the nature and causes of the wealth of state. And today of course he releases a book which he is coauthored with kathleen white, fueling freedom. Exposing the mad war on energy. Lets welcome to our podium our guest authors. [applause]. Thank you becky. Thank you you for the kind introduction and thank you for all the years you have been a mentor. I also want to think a very patient man and he is the editor of our book, tom spence who is in the back, [applause]. His skill was extraordinary to see how you transformed and helps me find my voice was excellent. But his patients is to be a hallmark. The book many of you in this room know much about these issues, the book we hope is really for a general audience that i find dismally unaware of the magnitude of the issues we have going on right now. I call them forces not issues because we have two forces going on, occurring at the very same time in history, worth all are unprecedented. One is the shale revolution some people call it the Unconventional Oil and gas revolution. I think many remain unaware of the magnitude of it and giving their precipitous and plunging prices that began in 2014 it got off the radar other than true reports of how many people are unemployed or how many rigs lost. But the opportunity that the shale revolution offers and the kind of revolution in the dynamic of the revolution is unprecedented. Much of the book tries to reveal that. Just an example, the revolution was not just another economic boom, it was on the basis of technological animation, access to what they just called the mother load of all hydrocarbons, they knew they were there when they were drilling and conventional vertical wells that allow them to extract maybe only 1 or maybe only 10 of the actual resource trapped in shale. That is what what is accessible, whatever the price of oil is. That is what is now accessible. It was not a result of government plans or programs, or subsidy, and it was not the result of the global major oil companies, exxon duke nothing wrong with them, but this was an achievement of risk taking energy entrepreneurs, be a geologist or financiers that operated in competitive markets. Enormous risk, enormous gains, thankfully we, thankfully we dont have a minister of oil in this country but i think for the first time in history we have a truly market generated energy revolution. Its future remains uncertain, but the opportunities it provides is amazing. The book goes on in detail living in texas where the technology was first developed and utilized and is still the state that was able to cut costs of hydraulic fracturing and increasing outputs. Its still going on, but i think were unaware of the opportunity that allows us, that is occurring because at the same time that a very powerful global crowd is determined to eliminate fossil fuels and natural gas. As fast as possible. They have done most regrettably a tragically good taste with coal. When has our government eliminated and i went out and go as far say eliminate but almost killed an entire industry. I am taken having been 30 years and more dealing with Environmental Issues that again, those that make decisions, the policymakers, the policymakers, those that get the publics attention in the media have dismally unaware of the magnitude of Climate Policies. A lot of talk in the last couple of years about the greatest civilizational threat today which are pretty lofty terms of our president would enthusiastically conclude that it is socalled the manmade global warning. I would submit in the book tries to explain why in great detail that Climate Policies themselves would be the greatest threat to western civilization as we know it. We are a fossil fueled civilization. We use perhaps 200 more times energy that flow through our life and all kinds of goods and services than people did in 1800. Some changes occurred since then lifespan is three times longer. Average income per capita is ten 30 times higher. The population of the world is now about seven and half billion instead of 1 billion. Things literally have gotten better in those indeed are at risk. Some people call the great fact of history, we kinda forget the somewhat dreary economic time in which we live is the unprecedented scale of modern Economic Growth. Our book summits that energy do not cost that, fossil fuels were first methodically applied in the Industrial Revolution, colby in the First Hydrocarbon resource to be so widely used and converted and it seems like in a countless number of created technologies. But never before had a middleclass emerge, the productivity made possible by fossil fuel energies, just change the dynamic. Productivity productivity increase of much that the price a good spell, those who made the goods could in fact a for them. But most and partly a middleclass simultaneously was the emergence of liberal democracies and i hope this group knows i dont mean left leaning. That combination of Property Rights of the inalienable rights that our declaration of independence attributes to each human being the emergence of our more competitive markets than had emerge before buttressed by the incredible val a fossil fuel change the world. A couple examples and i think its worthy reminding of how far we have come. In 19 hundreds the average workweek was 72 hours. Can you imagine, can you imagine, and you did not come home to a meal ready in your house, you began just trying to provide basic assistance. 12 hours a day six days a week. We all know what it is now its a 40 or weak. But thats amazing. The u. S. Amazing. The u. S. Has long been known for having by far the High Standard of living but what does that mean, in 1875 the average family in the world to include in the United States spent 74 of its income for just basic needs, food, clothing, shelter. In 1995 they spent 13 percent. 95 they spent 13 . Those are precious achievements. We have indicators in the book gets into this and see me talk about it we have a flagging middleclass, reduced income, we do not have good signals about the continued growth of a robust middleclass. Climate policy, i feel and when the media ever talks about something other than the candidates personalities are the most recent insult, we really need to lift up the really major issues, the major policy decisions that the next president next congress will make, there is no mention, the candidates all have their written Energy Policies you can find on their websites and perhaps have given a few speeches in the issue goes to the background. Where Economic Growth is talked about theres always a missing factor which often has to do with what kind of Energy Availability would we have. Renewables have been aside a job they cannot complete. All Climate Policies assume that we can fairly well replace all fossil fuels with Current Technologies of Renewable Energy. If if you want the book goes on in this in great detail but theres a section where number of headlines for european papers that talk about the fatal blunder with ugly consequences, how electricity electricity became in a luxury good, and germany the retail electric rates are three times higher than they are in the United States. The Economic Impact studies of these policies are met all the really big variables, what it would cost to replace the infrastructure from extraction to production to delivery or distribution, highly regarded number cruncher say may be eight dash 10 trillion just so you could possibly replace significant shares of fossil fuels is also in the trillions. This, the Global Economy would take on, this is what our country would take on when we have such a need a more vibrant Economic Growth. There is so much opportunity. I will close by saying being an environmental regulator glad like to call myself a reagan republican from a very early age, my parents give me no choice. But its also missing an agreement and Energy Policy, for an environmental policy, its not about the Climate Policies are not about genuine protection of the environment there about energy. Appear propaganda that comes out of epa now is unbelievable. Citizens deserve to rely on some basic assessment of health risk and things like that, epa is so far out of the way, we have learned and in the last 20 or or 30 years we have had dramatic reduction of what i call genuine pollutants, those listed in the Clean Air Act that can genuinely impact human health. Weve had falls of 60 or 80 , the aggregate omissions that come out of our tailpipes is now 90 less than it was a 1960. Im old enough to know that you could always see the exhaust of your tailpipe, if you, if you notice even concentrated cities like this you dont see it. We have learned how to operate and produce with great environmental sensitivity. We have been prosperous enough to absorb the extra costs. Environmental enhancement should go on by Carbon Dioxide is not a pollutant. It is a gas of life. Were educating whole generations now that think and evidently agree with former secretary of state john kerry that carbon is among the worst weapons of mass destruction. Were in trouble because our bones and blood are made out of carbon. But that i think is an important insight. There is a very dark side to Climate Policy and you need to look no further than the words of global and National Leaders that its as if we are reformulating this really pessimistic, people use the word antihumanity people, people who believe that the enemy of humanity is man rather than people with taste and the creativity of the human mind and in what the dynamic of freedom means, you do not find Breakthrough Innovations in highly authoritarian countries. So i think this is in many ways a moral issue. Billions in the world live without electricity, i mean we cannot imagine what it is to live without. Any hope for Economic Growth for health, educion, of those that still lack access of electricity, they they dont need solar panel, they need energy, efficient sources that are controlled by incredibly effective technology. So its an odd collision, our candidates if youd like to go to their websites and read their Energy Policies, they offer dramatic alternatives, but its a pleasure to be here, get i think becky, i think tom and thank you steve. We you steve. We really hope that we can get this book out to many, many people. I think people have an open mind who are unaware of the magnitude of the risk we are taki