Transcripts For CSPAN2 Book Discussion On Fueling Freedom 20

The new 50. Thanks for being on booktv. My pleasure. Every sunday 3 00 p. M. Eastern book tv will bring you authors who have different perspectives of a campaign issue. This week that focuses on energy now is the offer of fuelling freedom we. [inaudible conversations] welcome to the heritage tradition in those joining a son the website has elastic booktv on a future occasion. Please be courteous to move checked your mobile devices have been turned off. , online or in the future you can send your questions or comments at any time. Were also pleased to be coasting this program with our allies of the policy foundation of which kathleen is a fellow. The Ronald Reagan distinguished fellow at the Heritage Foundation as a conservative Movement Leader serves as achievement leader bob to the restore America Project for conservative ethics conservation expects to Indias Energy and National Resources and energy. Also serves as a board member for numerous policy association said was the lead by as president for extra Relations Board joining us serving in the cabinet as secretary of Natural Resources and also Holding Significant roles in the Reagan Administration Deputy Assistant to the president and later the special assistant to the president of man also served as a senior specialist to the attorney general edwin meese and and particular for todays program has the department of the interior for fish and wildlife. Please join me to welcome my colleagues. [applause] is thought pleasure to see all of you today is an exception and exciting day when good friends and great people turned out great books. We have one today we will be introducing. Is my pleasure to introduce the coauthors that allows them to come to the podium to make their remarks and we will have plenty of time for questions. The first coauthor is Kathleen White a distinguished senior senior fellow of residents and director for energy and the environment from the Public Policy foundation. As chairman and commissioner with that jurisdiction over air quality with the disposal of waste the staff of 3,000 with a budget of over 600 million to make it the secondlargest retirement of Regulatory Agency in the world. And is our goal to make it the Third Largest in the world. [laughter] prior to the appointment serving as the george bush appointee to the Water Development board were she sat and tall appointed. Also on the texas economic the relevant commission and recently completed her term as an officer and director of the Lower Colorado River Authority on the Editorial Board of regulatory science in the texas water foundation. With a National Review Investor Business Daily the Washington Examiner in the texas newspapers. Did as a contributor to the Heritage Foundation with those eight principles of the conservation ethic that i hope you all have a copy but most recently testified before a u. S. Senate and most importantly we met when we were mere children. Continuing to be a great warrior. Hour of other of 39 Everybody Knows him in a Television Star Stephen Moore and on the radio we like to listen to him. Formally rose for the wall street journal. In the member of the Editorial Board in return to heritage about 25 years sector first serving here in 2014. Twentyfive years after his tenure as a leading conservative think tanks with a Budgetary Affairs 1984 to 1987 and also founded as club for Growth Finance the free market Economic Policy and also a Free Enterprise fund before joining the wall street journal over the years serving as a leading economist joint Economic Committee and as the senior economics fellow republished dozens of studies on fiscal policy was also a consultant to the Economic Commission with Research Director on privatization with is the Fox News Contributor writes regularly for National Review the Washington Times in the Orange County register he holds a master of arts and economics from george mason university. And author of numerous books it is Getting Better all the time. In the inquiry into the causes of the wealth of state and of course, today he releases his book that he really says with Kathleen White t11 please welcome them to the podium. [applause] expect banks for the kind introduction. But i also want to think a patient man the editor at regular reseated at the back. That was still extraordinary how he transformed that was excellent in his patients and you know, many about these issues. That to find abysmally and aware of the magnitude of issues we have going on right now. In at the same time in history one is the shale revolution that oil and gas revolution to remain unaware of that magnitude. With the precipitous plunge in prices that was off the radar of how many people are unemployed. The opportunity of the shale revolution with the dynamic of the revolution is unprecedented. So it wasnt just another economic boom but to access what they call the of mother lode of all hydrocarbons that they knew were there with the conventional vertical wells and allowing them to extract only 1 or 2 that is what is accessible whenever the price of oil is and was not the result in it all this to n achievement. Operating in the competitive market. We dont have a minister of oil in this country to have a truly market generated energy by evolution. And remains uncertain but the opportunity that it provides to lead in texas where it was first developed in the state could cut costs of hydraulic fracturing to increase output it is still going on. But to be unaware of the opportunity. That is occurring at the same time the global crowd and has done a tragically good case with coal to eliminate in almost killed in the entire industry. That again to abysmally beat unaware of the magnitude of what of talk in the last couple of years with the manmade Global Warming. Backlighted policies themselves with the greatest threat to western civilization of fossil fuel civilization using to hundred times but some changes that occurred like life span is three times longer. And the population of the world now is 7. 5 billion. Been literally have gotten better. And to kind of forget with that jury economic timing the unprecedented scale of modern Economic Growth because fossil fuels word in the Industrial Revolution with coal for being the First Hydrocarbon to be widely either white with those technologies but never before had an enduring middleclass emerged of fossil fuel energy is with the l. Whole dynamic that the price of goods fell. But most importantly in middleclass was liberalized a marcys with Property Rights john is the declaration of independence that is attributed to each human being of the divergence of far more competitive markets with that incredible value of fossil fuel to change the of world. And a couple of examples but in 190072 hours as the average workweek. Can you imagine . You didnt come home to the meal ready things but you tried to have basic subsistence. Twelve hours a day and six days a week now is 40 hours a week but that is amazing. With the highest standard of living what does that mean . In 1875 the average family to include in the United States 74 percent of income. An den 199513 . Those are precious achievements with indicators that steve may talk about them, but we have a lagging middleclass and reduced income, we do not have good signals about the continued growth of a robust middleclass. Climate policies, i feel its the media ever talks about the candidates personalities were the most recent insults we really need to lift up the major issues and policy decisions the next president and congress will make. The candidates all have their written in Energy Policies on the websites with the issue just received to the background with Economic Growth were, there is always a missing factor which has to do with what type of energy. Removals is assigned a job they can not complete. All policies assume we can replace all fossil fuels with Current Technologies. The book goes into this in great detail but the number of headlines of the fatal blunder with ugly consequences hell electricity became a luxury good. Now where it is three times higher than and the United States. The Economic Impact studies that omit to the big variables of what it would cost to replace the Global Energy infrastructure the delivery distribution of aid or 10 trillion. So the mouth said you possibly have significant shares of fossil fuels. This, the Global Economy . To have such a need of fiber in Economic Growth. There is so much opportunity. I will close by saying the the environmental regulator i like to call myself a reagan republican my parents gave me no choice. Is also a missing ingredient over Environmental Policies it is about a genuine protection of the environment but energy that is pure propaganda that comes out of the epa is unbelievable. Citizens deserve to rely on some basic assessment of the help desk. The epa is so far out of their way we have learned we have had dramatic reductions of those listed in the Clean Air Act that can genuinely impact human health. That aggregate emissions coming of the tailpipe is 90 percent less than it was 1960 in ukuleles see the exhaust even in concentrated cities we have learned how to operate and produce great sensitivity to be prosperous enough to absorber that extra cost but Carbon Dioxide is not a pollutant is a gas of life. We educating whole generations that evidently agree with former secretary of state john kerry that carbon is among the worst weapon of mass destruction. We are in trouble because our bones and blood are made out of carbon but that is an important insight there is a dark side to climb a policy you need to look no further than global and National Leaders is as this and we are reformulating pessimistic people use in eye humanity for that they believe that is mason rather than the creativity of the human mind and what freedom means you dont find a breakthroughs in highly authoritarian countries so in all kinds of ways it is a moral issue to live without electricity. I cannot imagine what would be with any hope of Economic Growth of any indication claque of access they donee solar panels they need Energy Sources that are controlled by incredibly effective technology. Is an odd coalition. If you like to read the Energy Policies offered dramatic alternatives. Is a pleasure to be here again. We really hope we can get the book out to many people to still have an open mind of that magnitude of the risks were taking on with Climate Policy in the magnitude of opportunities as the largest producer of oil and natural gas and coal [applause] i have some slides i want to show to you. Thanks for the introduction icl lots of friends here in many scholars here from heritage, let me start by saying kathleen really was the inspiration for the texas Public Policy foundation on the moral case for fossil fuels as soon as i saw that it was the innocence of the argument we always think economic or strategic but the at t use fossil feels using fossil fuels was moral and i would give you examples. We open the book with the story that happened to me personally for or five years ago almost exactly to this day one of the issue to storms in virginia a big summer storm to knock down thousands of trees and relive the area where we have huge Power Outages that lasted about three 1 4 days before they could restore the power keitel the story, as were teenagers then dont like very much and the 11 yearold eye was fond of. [laughter] but we used candles for about the first three or four hours it was a need to experience but then it was so interesting to see how things developed because they could not use their eye pad or game boy or watch tv or all the things that the mall in deals are so accustomed to. After 48 hours, oh my god how did people live without electricity . This something to take for granted because we have always lived with electric power as a given. Bedded has and then for many centuries before the advent of fossil fuels. I do give allied of talks on highschool and College Campuses ecl lot of young people and millennial see think it is cool. It is cultural lets go green to get electricity from solar power. Where do we get our electricity from . And it always get the same answer, of the outlet. Most americans have no idea where they get electricity from. Most of them dont when is the numberone source today . Actually a think naturalgas just passed call the that is about even. Thirtyfive it comes from coal and natural gas so that is threequarters of electricity comes from natural gas and coal. That was the intrusion of the book to one of her chapters is about the Industrial Revolution how isnt understood that is really the story. We know it was the first massive leap forward for Living Standards with the age of machinery and automobiles and steam engines but what kathleen points out it is really a story of fossil fuels restock using things like wood and windmills with the efficient forms of Power Production coming from coal. Of people say we should shut down the coal industry this country was built on coal and rehab 500 years of it and we should be using it. But i am not an Energy Expert i want to talk about the Economic Opportunity because of the fossil fuel revolution and the shale oil if you want to see i love this photograph looking now north korea the bottom area is south korea in lacks many things but fundamentally is it on an electric power so there is no lights in north korea at night south korea as a Living Standard 67 times higher and electric power is a springboard to economic improvement. This in is interesting dealing with the issue you were talking about i just love this if you look at the natural gas revolution to be the featured is natural gas. Made in america, a cheapened and abundant and clean burning. We should use as much as we can win a the most clean burning sources and Gas Production has gone way up you can see what has happened to modern emissions. By the way it is very interesting the groups like the 01 negative sierra club recognize those incredible benefits they were very much and self racking came up but with that mass production so the price of natural gas fell dramatically that all the sudden we have a super abundance because they are against the industrialization. This just shows we are incredibly Energy Efficient beloved keeps talk about making america more Energy Efficient reproduce more goods and services with less energy we dont need the government to tell us that were to mandate that. This shows methane as the charge the left is making that we have to stop tracking and methane emissions have fallen with natural gas and important point most of you recognize this most americans dont understand and barack obama doesnt understand this if you listen to what he was saying to his first term in office we have to move to greed energy we are running out of fossil fuels. With this famous quotations we run out so fast precede me have to drill on the of Washington Monument we have drilled everywhere else. That isnt true because of the Shale Oil Gas revolution we tripled overnight when technology has doubled or tripled were not running of oil or gas or not running of coal so that argument has completely disappeared. One of the seams of the book if we get this right in terms of promoting Energy Resources that we have an abundance that we have more than any other in the world of the 21st century United S