The Heritage Foundation and our louislerman auditorium. We, of course, welcome those who join us on our heritage. Org web site as well as those who will be joining us on booktv at a future occasion. We would ask everyone in house to be courteous and check your 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 simply emailing speaker heritage. Org, and we, of course, will post todays program on the heritage home page for everyones future reference. We are also pleased today to be cohosting this program with our colleagues and allies at the Texas Public Policy Foundation of which kathleen is a fellow. Introducing our program and hosting our guests today is Becky Norton Dunlop. Mrs. Dunlop is the Ronald Reagan distinguished fellow at the Heritage Foundation. As a conservative movement leader, she serves as chairman of the conservative action project, leads heritages restore america project, advocates for american conservative ethic conservation ethic and advances energy and Natural Resources policy in general. She also serves on numerous as a board member for numerous Public Policy organizations and associations. Prior to this, she was heritages executive Vice President for external relations. Prior to joining us at heritage, she served in the cabinet of governor george allen as secretary of Natural Resources. She has also held significant roles in the Reagan Administration as Deputy Assistant to the president for president ial personnel, later his special assistant to the president and director of his office of cabinet affairs. She also served as Senior Special assistant to attorney general edwin meese and particular to todays program, as deputy undersecretary of the department of the interior as well as the assistant secretary for fish, wildlife and parks. Please join me in welcoming my colleague, Becky Norton Dunlop. Becky . [applause] thank you so much, john, and its just a pleasure to see all of you here today. This is an exciting day. Its always exciting when good friends and great people turn out great books. And weve got one today that were going to be introducing to you. Its my pleasure to introduce both of our coauthors for today, and im going to introduce them both and then ask them to come to the podium and make their remarks, and well have plenty of time for questions. Our first coauthor is Kathleen Hart net white, distinguished fellow in residence 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 regular regulatory jurisdiction over air quality, water quality, utilities storage and disposal of waste, tceqs staff of 3,000 with an annual budget of over 600 million and 16 regional offices makes it the second largest 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. [laughter] prior to governor perrys appointment of white to the tceq in 2001, she served as thengovernor george bushs appointee 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 flow study commission. She recently completed her term as an officer and director of the Lower Colorado river authority. She now sits on the Editorial Board of the journal of regulatory science, the texas Emission ReductionAdvisory Board and the texas water foundation. Her writing has appeared in numerous publications including national review, investors business daily, washington examiner, forbes, daily caller, the hill and major texas newspapers. I might say parenthetically, she also is a contributor to the Heritage Foundation study, Environmental Conservation eight principles of the american conservation ethic, which i hope you all have a copy of. Its good reading before todays book is released. She most recently testified before the u. S. Senate environment and public works committee. And perhaps most importantly to me, she is a dear friend of long standing. We met when we were mere children here in washington, d. C [laughter] fighting for liberty. She continues to be a great warrior for liberty. Our other coauthor, mr. Stephen moore. Everybody knows steve moore. Hes a television star. We see him a lot on television these days and on the radio, we like to listen to him. He formerly wrote on the economy and Public Policy for the wall street journal, he is now a distinguished visiting fellow for the project for Economic Growth here at Heritage Foundation. He was a member of the journal ors to Editorial Board, and he returned to heritage in 2004, about 25 years after he first served 2014. Say again . 2014. 2014 i thought you said 2004. 2014. About 25 years after his tenure as the leading conservative think tanks grover m. Herman fellow and Budgetary Affairs from 1984 to 987. 1987. He also founded and served as president of the club for growth which raises money for political candidates who favor free market economic policies. And he also founded the Free Enterprise fund before joining the wall street journal. Over the years he has served as a senior economist at the congressional joint economic committee, excuse me, and as a senior economics fellow at Cato Institute where he published dozens of studies on federal and state fiscal policy. He was also a consultant to the National Economic commission in 1987 and Research Director for president reagans commission on privatization. Steve is a Fox News Contributor as well as writing weeingly for forbes writing regularly for forbes, the Washington Times and the Orange County register. He holds a master of arts in economics from george mason university. He has offered numerous authored numerous books including whos 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 states. And today, of course, he releases a book which he has coauthored with kathleen white, fueling freedom exposing the mad war on energy. Lets welcome to our podium Kathleen Hartnett white followed by stephen moore. [applause] thank you, becky, for the kind introduction, and thank you for all the years that you have been a mentor and a model to me. I also want to thank a very patient man, and he is the editor of our book, tom spence with regnery, whos seated in the back. [applause] whose skill was extraordinary. To see how to he transformed and helped me find my voice was excellent, but his patience is to be a hallmark. [laughter] the book many of you in the room know much about these issues. The book, we hope, is really for a general audience that i find abysmally una aware of the magnitude of the issue that is 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. Both are unprecedented. One is the shale revolution. Called many other things. I like to call it the shale gale. Some call it the Unconventional Oil and gas revolution. I think many remain unaware of the magnitude of it, and given the precipitous prices in 2014 kind of got off the radar other than dreary reports of how many people are unemployed or how many rigs but the opportunity that the shale revolution offers and the kind of revolution and the dynamic of the revolution is unprecedented. I give you just and 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 innovation is access to what [inaudible] just called the mother load of all hydrocarbons that they knew were there when they were drilling in conventional vertical wells that allowed them to extract maybe only 1 , maybe only 10 of the actual resource trapped in shale. That is what is accessible, whatever the price of oil is. That is what is now accessible. And it was not a result of government plans or programs or subsidy, it was and it was not the result of the global major oil companies, exxon, duke, nothing wrong with them. But this was an achievement of risktaking Energy Entrepreneurs be they geologists or financiers that operate in a competitive market. Enormous risk, enormous gain. We dont have, thankfully, a minister of oil in this country. But for, i think, the first time in history we have a truly marketgenerated energy revolution. Its future remains uncertain, but the opportunities that that provides is amazing. I wont go on. Book goes on many detail. Living in texas where the technology was fist developed and first first developed and first utilized and is still the state that was able to cut costs of hydraulic fracturing and increasing output, so it still, its still going on. But that, i think were unaware of the opportunity it allows us. That is occurring because that is occurring at the same time that a very powerful global crowd is determined to eliminate fossil fuels and natural gas as fast as possible. And theyve done, most regrettably, a tragically good case with coal. When has our government eliminated and i wouldnt go so far as to say eliminated, but so, so 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, those that get the publics attention in the media have, are abysmally unaware of the magnitude of Climate Policies. A lot of talk in the last couple years about the greatest civilizational threat to date, which are pretty lofty terms, of our president would enthusiastically conclude that it is socalled manmade Global Warming. I would submit and 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 fossilfueled civilization. We use, perhaps, 200 times energy that flow through our life in all kinds of goods and services than people did in 1800. Some changes that occurred since then, life span is three times longer, average income per capita is ten depending on how you measure it, ten to twenty or thirty times higher. The population of world is now about 7. 5 billion instead of 1 billion. Things, literally, have gotten better. And those, indeed, are at risk. Something that some people call the great fact of history, we kind of forget in a somewhat dreary economic time in which we live, is the unprecedented scale of modern Economic Growth. Our book submits that energy didnt cost that. I mean, fossil fuels were first methodically applied in the english Industrial Revolution, coal being the First Hydrocarbon resource to be so widely used and converted in it seems like a countless number of creative technologies. But never before had a middle class, an enduring middle class emerged. The productivity made possible by fossilfueled energies just changed the whole dynamic. Productivity increased so much that the price of goods fell. Those who made the goods could, in fact, afford them. But most importantly, a middle class simultaneously was the emergence of liberal democracies, liberal i would hope this group knows i dont mean leftleaning, i mean classical democracies emerged. And that combination of Property Rights of the inalienable rights that our declaration of independence attributes to each human being, the emergence of far more competitive markets than had emerged before butt rested by buttressed by the incredible value of fossil fuels changed the world. And a couple examples of i think its worthy reminding of how far weve come n. 1900 the average workweek was 72 years 72 hours. Can you imagine . I mean, can you imagine . And you didnt come home to mealready things in your house. You began just trying to provide basic subsis tense. Unbelievable. 12 hours a day, 6 days a week. We all know what it is now, its a 40hour week. Thats amazing. The u. S. Has long been known by having by far the highest standard of living. Well, 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 subsistence need, food, clothing, shelter. In 1995 they spent 13 . Those are precious achievements. And we have indicators and the book get into this and steve may talk about them, you know, we have a flagging middle class, a reduced income, we have, we do not have good signals about the continued growth of a robust middle class. Climate policies. I feel when the media ever talks about something other than candidates personalities or the most recent insult, we really, really need to to lift up the really major issues, the major policy decisions that next president and next congress will make. Theres no mention. The candidates have all had their written Energy Policies you can find on their web site and perhaps have given a couple speeches, then the issue just recedes to the background. Electric rate at three times higher than the United States is the Economic Impact studies for these policies amid the big variables might cost to replace the Global Energy infrastructure from extraction to production to delivery or distribution, highly regarded number crunchers say eight to 10 trillion to install some of the math said you could replace significant shares of fossil fuels is also in the trillions. The Global Economy will take this on . This is what our country would take on, in such a need a more vibrant Economic Growth, so much opportunity. I will close by saying being the environmental regulator, i would like to call myself a reagan republican from an early age, my parents gave me no choice, is also a very missing ingredient in discussions of Climate Policy and Energy Policy and environmental policy. They are about energy, pure propaganda that comes out of epa is unbelievable. Citizens deserve to retire and basic investment in health risk, epa is so far out of the way. We have learned we had dramatic reduction in genuine public this list in the Clean Air Act that continually impact human health. We had falls 60 , 8 in aggregate emissions, of our tailpipes, 90 less in 1960. You always could see exhaust even concentrated cities like this, you dont see it, and we produced great environmental sensitivity, and environmental enhancement should go on but Carbon Dioxide is not a pollutant, it is gas of life. We are educating generations that evidently agree with former secretary of state john kerry that carbon is the worst weapon of mass destruction, we are in trouble because our bones and blood are made of carbon but i think that is an important insight. There is a very dark side to Climate Policy, look no further than the words of global and national leaders. As if we are reformulating this pessimistic person from pick anti humanity, people that believe the enemy of humanity is man rather than people with faith in the creativity of the human mind and what the imac of freedom means, you dont find break through innovation in highly authoritarian countries so i think this in all kinds of ways is a moral issue. Millions live without electricity, you cant imagine what it would be like but any hope for Economic Growth, education, of those that still lack access to electricity dont need solar panels, they need energyefficient, Energy Sources that are controlled by effective technologies. Two forces. It is an odd coalition with our candidate if he would like to go to their web sites and read their Energy Policy, offers dramatic alternatives but is a pleasure to be here. We really hope we can get this bill got to many people who still have an open mind and unaware of the magnitude of risks were taking on with Climate Policy and the magnitude of opportunities it gives to the United States as the largest producer of oil, natural gas and co