Crude Oil Production doubled from 5000000. 00 barrels today to 11000000. 00 Barrels Per DayHillary Clinton as secretary of state flew around the world trying to get nations like poland for example to bring fracking there so this is the older school the neo liberal policy for democrats that was really championed now the Younger Generation theyre against what do you think about fracking and should we ban it or is it an issue well fracking obviously is sort of the centerpiece of u. S. Fossil fuel production there are huge concerns not just about some of the Environmental Issues related to fracking which involves injecting water breaks with chemicals and particulates like sand very High Pressure deep into hard rock formations youre basically putting a jet engine on the drill and using water at High Pressure instead of the. Drilling operation so theres tons of Environmental Issues water issues but theres also Climate Change the more oil and natural gas produce we produce the more Greenhouse Gas emissions we emit into the atmosphere and so i think what young people are responding to is we have to respond to the Climate Crisis and the only way to effectively respond to the Climate Crisis is to limit our fossil fuel production to limit our fossil fuel consumption and so we cant just talk about banning fracking without talking about specifics on alternatives to liquid transportation fuels and alternatives to natural gas in the power sector obama did call it a bridge fuel in terms of getting us off coal but it seems to be much more of a geo political issue we see with the fracking and the doubling of production its really hailed across bipartisan issues as like where the Number One Oil producer in the world so once in to that level it becomes way more difficult to get off it what do you think about this the Obama Administration could take this is a win i think weve seen the world flip flop from 2008 to today weve basically seen the us go from importing 50000000 barrels a day of oil to down to less than 2000000 barrels a day at the same time china is now importing almost 10000000000 barrels a day so now china has become what we were in the seventys and we had the oil crisis i mean the next problem with oil come out of the middle east our strategic rival china is going to a big problem and over here were going to be pretty much selfsufficient so i think in terms of domestic resources it was a win in terms of Climate Change it was a win the u. S. Is the only region in the world that has actually reduced its emissions since 2005 reduced about 7 percent and thats because were replacing the dirtiest fuel coal with natural gas so this idea of banning fracking is a big gain of pollutants absolutely. You would watch youd see number one our Living Standards are completely dependent on our electricity production so to just oh no try to ban Something Like that weve built the entire Energy Infrastructure around the last 10 years would be totally ridiculous so you know its like a different president comes in every 4 years and changes the Space Program you can not just change an energy grid that quickly need to look at from a Climate Change perspective i was a renewables is a great thing that need to keep being developed but as as you mentioned that bridge is the natural gas and thats the only reason why the u. S. Has reduced emissions while everybody else continues to increase if we banned fracking as many of the millennial generation z. Do want millennia as are the largest voting bloc now we would have to import more oil what would that do to our trade deficit which is who are still bad i dont know how bad it would be today if we were importing another 12000000. 00 Barrels Per Day but on top of that you would have to replace that energy with Something Else so it would actually get worse 10 to 15 years ago there was a lot of people talking about peak oil and talking about Peak Oil Supply and obviously unconventional production has sort of put those rumors to rest but the consensus is that we are reaching Peak Oil Consumption and thats because of a number of factors but when you look at an auto company like tesla right that produces a fraction of the vehicles compared to General Motors or ford but yet last year you know the market value. I was having greater market capitalization than their much larger rivals thats because everyone understands that the future of the transportation sector is electrification while its true that natural gas from fracking in the United States has has absolutely replaced coal in power sector emissions whats happened now is the largest Single Source of Greenhouse Gas emissions in the u. S. Economy is now from the transportation sector so i think in. To address Climate Change yes addressing oil and Gas Production has to be part of it we can call it ban fracking or whatever you want to call it but we cant ban fracking without a corresponding clear agenda to move our transportation sector on to a more sustainable path which i think is the electrification of it and for that youre going to need government assistance in the form of Infrastructure Investment and right now without like a National Carbon tax to help finance that Infrastructure Investment i dont see it happen i completely agree with the electric electrification of vehicles you know my 1st job was with General Motors as an automotive engineer and i can tell you the you look at the Combustion Engine take a big step back and look at it its all technologies from last century mechanical gears pulleys rubber transmission belts hydraulic fluids these things are all last centuries technologies. Vehicle which we. Look at every component when you turn on a Combustion Engine vehicle they have 5 times as many parts as an electric vehicle so eventually electric vehicles are going to continue to slide down the cost scale when you add in autonomous driving youre looking at the cost of mobility in the us is going to collapse its going to go down to a 5th the what it costs today you know 1. 00 of the most underutilized assets in our economy our cars they sit there most of the time so fast for within 10 years from what i know of people in industry were going to be at level 5 autonomy you wont need a drivers license cars were just continually rotate around cities picking people up theyll be electric will be autonomous and theyll be internet connected so thats the good news i think on the front of consumption. Pushed this 10 years faster than probably where where it was going to come out and you have now not only the benefits of Climate Change but now tesla is the only car company that scares the german Car Companies theyre scared to death. They dont even care about it but theyre literally worried about going out of business the levels. 5 autonomy how do we get to level 5 what is. The scale from so today were at level 2 or level 3 where it can take over on highways it can break it it can break for you it can park for you level 5 as you get in the car and theres nobody driving it theres a were going in a situation right because of the interest of the charging stations had to be built in order for this to work as you get 250 miles on a charge any and so thats a government obviously a government project i think they would do charging stations but proprietary to tesla right so theres no interoperability among these various cars so the set of band fracking rallying cry be lets build the. Infrastructure i think from a political standpoint youre right but its a lot easier for some of the climate activists to just talk about the whole movement is called keep it in the ground because theyre saying the fossil fuels need to stay unburnt deep in the ground in order for us to avoid a complete climate catastrophe its a little more difficult to talk about the solutions because there youve got costs youve got the logistics of how its going to be done but we have to talk about the solutions we cant just rely on an Energy Policy that says we cant frack anymore we have to talk about how are we going to help working people get access to Sustainable Transportation alternatives and it cant just be individual automobiles i definitely share your enthusiasm about the promise of Autonomous Vehicles but we have to we have to remember that the most effective Sustainable Transportation system is mass transit and then there the United States is always lagging behind our mass transit systems are woefully and chronically underfunded so weve got to have a big public commitment to invest in mass transit and weve got to have a big public commitment on charging stations we have ignored these critical. Infrastructure investments i completely agree and i lived in china 20 years and i could not just me many many friends we had come back United States we feel like were going back in time and over there were on the high speed train between 300 kilometers an hour brand new airports every roads built you come over here the infrastructure is a shambles i mean the bridges the trains the i mean the subways you feel like youre in the 1950 s. Or sixtys i mean its a yeah i mean one area we have got to get ahold of is the infrastructure because its key to the economy whether or not taxpayers will ever want to pay for that here is another thing but 1. 00 thing we are paying for here is these new terminals and that suggests that banning fracking is not anywhere on the horizon how much are we spending on terminals how big are these terminals and what does that suggest for our you know the next 510 years from now l. And g. Or liquefied natural gas thats the way that you transport natural gas across oceans because usually youre moving natural gas to a pipeline where it can remain in its gashes form in order to make it more dense you basically freeze it turned into a liquid each of these liquefied natural gas export terminals costs billions and billions of dollars and we have to remember that this is the number one priority of the u. S. Oil and gas industry right americas now the Largest Crude Oil producer the largest natural gas producer that is a lot of money that is a lot of Campaign Contributions that this industry gives and their priority is not Energy Independence for americans their priority is selling their frack to natural gas and frack crude oil for the highest possible price globally so that their focus is on Building Infrastructure for export out of the United States so thats where the liquefied natural gas terminals come in and its basically been the stop. Quote from the Obama Administration to the trumpet ministration no real difference between democrats and republicans on their promotion of of ellen g. And it was obama in 2015 that struck the deal to lift the 40 year old ban on crude oil exports are a real take a break when we come back dive deeply into the Lithium Market believe it or not dont go away stay right there on front running 2020. Im going to fulfill the repeated promises apologise to the people and come on you know weve all bots. Pretty. Tough. You want to. Know. Freedom of speech is one of the pillars of democracy and also one that in the wist is perceived as being in greatest peril with the left claiming that its become a vehicle coopted by the right to spread hate and the right to write english does sinister snowflake census. Just what are the boundaries of free space. In the troubled 970. 00 s. A group of killers rampage through parts of Northern Ireland that was coordinated loyalist attacks protect the population tens of thousands were forced to flee their homes was striking to put these attacks was a p. R. You see the Police Actually took part in the attacks so instead of preventing it they were active participants in the burning of full streets in belfast at the time more than a 100 innocent civilians were murdered as the review can seniors and we found out more i was surprised about the extent and of the currents which the pollution was involved in some of those cases the killers would later be named. I think it went to the very very top i think it the. The water where politicians you know on the go ahead. Welcome back to front running 2020 with max kaiser and Stacy Herbert as we look at the policies and issues heading into oh yeah the election coming up very soon were talking about Energy Policy stacy and before we get into our scintillating discussion about lithium i want to ask the panel quickly were you aware that the world is facing a severe shortage of helium down did not know that i read about this right because the balloon companies werent able to wasting is that the kids are wasting the helium and its just her teaching element in houston aerospace in many applications and were just printing away all of our helium for the children terrible ok enough but helium in fact youre helium story does play into this because if were going to get to mars are off planets and exit this planet as apparently many billionaires plan on doing and escaping the Climate Change or whatever disaster is on the horizon they will need that but in terms of lithium of course its a crucial ingredient to this future that many of the money els and everybody and at mckinsey and all these think tanks well think that we have a future with smart cities smart grid electric vehicles so bolivia has Something Like 50 percent a little bit over that of the lithium supply at the moment china and germany had just recently in the past year done huge deals with bolivia for those resources could we see this become the new oil in terms of the geo political Unrest Associated with anywhere with oil absolutely i mean Energy Storage has been the holy grail for be Energy Industry because if you can officially at least store it you can go bold bar with the transportation sector and the electric power sector Energy Storage with batteries can balance off the intermittency renewals like wind and solar but the achilles heel of Energy Storage batteries is that they are. Prised of things like lithium and other things that are limited and finite in supply and require mining usually in global south countries and that it is usually done in not a Sustainable Way and so while i do think that a Movement Towards electric vehicles and Energy Storage on balance is better for the planet there are big red flags and concerns about the ability of us to scale up current Mining Operations for the elements that make up batteries to fit the demand that were expecting and to do it in Sustainable Ways and so these are all things that need to be part of a comprehensive energy and Climate Strategy to make sure that we have plans in place to try and do this is sustainable is possible in terms of Smart Grid Technology 1st im going to ask you what is a smart grid because were supposed to bring this to cities around the world and in fact in 2009 obama did in the american recovery and reinvestment act allocate 4500000000 towards developing the smart grids one thing of course for a smart grid for a city is you need this Battery Storage you need to be able to store electricity china is indeed developing all these substations they already have thousands of them have it do we have even one in america do you see any sense that we are actually developing any technologies towards smart grid absolutely theres a bunch of smaller scale demonstration projects and a lot of investment going into this so to me smart grid means 2 main things one is having communication that is 2 way between producer and consumer so that you have accurate flows of information about where supplies are where demand is and how to more smartly match them the 2nd thing that a smart grid is supposed to do is to better match up distributed Energy Resources which are small. Scale renewables matched with batteries which is different from the conventional way of making electricity beginning with Thomas Edison in the pool street station in manhattan which was a blart centralized power plant that sold power to millions of homes now the future is likely going to be smaller scale distributed Renewable Resources and that entails a different type of smarter grid how practical is it for users to sell energy back so in other words in germany they have solar panels etc peoples homes they are generating more energy than they need they sell it back to the grid and theres are universal basic income right there everyone becomes a Cottage Industry of producing solar energy how practical is that why dont we pursuing that isnt that a great way to add home income into further cost of homes were we on this youre absolutely right so in the u. S. Its usually a state based policy and its known as net metering and what net metering implies just as you describe is whatever surplus electricity that youre producing on site from your rooftop solar the local utility is required to buy that surplus at the prevailing retail rate now of course the electric utilities fight this because if im an electric utility my Business Model is selling you the household you the business the power that i have if all of a sudden my households and businesses are self generating and even selling back their access my Business Model is now spiraling out of control right now if i put cash at the bank im getting less than one percent or 100 percent of money market i can put cash into a project in south africa right now where they guarantee me 10 to 11 percent a year in income paid to me in crypto currency based on the contract they have to put solar on every Public School in south africa so this is a hugely beneficial project and it seems easily easy to mimic as its just up. Political stonewalling the professors from happening in the u. S. Its political stonewalling by the incumbent utilities i mean the age old story in the u. S. Is incumbent interests where the oil and Gas Companies are electric utilities that have gotten rich off of their accumulated years of of monopoly control resist these whats known as Disruptive Technologies and fight them ill on mosque did mention this when he was talking about solar city and the incumbent of course was Warren Buffett who owns a lot of utilities around america Warren Buffett is a great hero of the resistance on the left and the Democratic Party how does china in terms of there are major competition there this is what all of our Energy Policy is really about is our arrival of china so what are you seeing there how are they deploying these sort of technologies they probably dont have incumbents because theyre basically a developing nation have the electricity is mainly state owned enterprises and up but i have seen smart grids pioneered by the Tech Companies the 0. 10 have it the big one hallway has a big one dash boards you know theres 50000. 00 cameras in the city dashboards can see the whole city that goes along with electrical grid side where they can monitor you know the internet of things where everything has a sensor in the future everythings going to be centered in monitored so thats where you can create the efficiency so yeah china like in every other technology is not standing still theyre moving faster and faster theyre welcoming of course a lot mosque is building his new electric field called super mega factory and they build their factory list and 6 months from empty greenfield space to fully functioning to supplant 6 months i guess this does cut a spillover into geopolitics right with there all of this out bolivia as a lets see im supplier doing a deal with china 2300000000. 00 thats the end project and now theres been a lot of political unrest in bolivia so is that a factor in your view absolutely i mean its were still in an era of resource colonialism again this is a big. Big risk and the one big thing that could really inhibit the kind of electric vehicle revolution that a lot of us want to see is if we cant resource the battery components in a sustainable ethical way then its not going to be a successful revolution in terms of this future of Renewable Energy and electric vehicles and all this stuff Morgan Stanley recently came out with a report and they say that we need 50 trillion dollars invested and renewables electric Vehicles Hydrogen biofuels Carbon Capture over the next 30 years is Carbon Capture is this actually ever going to happen you know it makes no Cost Effective science its something but the fossil fuel in the coal industry is continue to push in the margins there was a huge Carbon Capture project in the United States by Southern Company in mississippi there kemper facility that was a massive dug multibillion dollars to run on coal with Carbon Capture and storage it didnt work they just converted the facility to the most expensive natural gas power plant in history but i think theres always been a historical role for government in infrastructure article one section 8 of the constitution says Congress Shall build the postal roads when morse invented the telegraph sure he got the patent rights but it was the american taxpayer through congressional appropriations that built the telegraph network same with the railroads where we gave the land we financed the interstate highway interstate highway 56. 00 where 300000000000. 00 later we built the highway internet absolutely so i think the government has an obligation to come in and build the infrastructure we just need to make sure its not one of these Public Private partnerships where we give all of the government is obviously braindead how else could you cope when a Something Like a big attila the Company California is saying that we have to create a blacked out because were afraid that 3 days. I had the power lines and start a fire with p. J. Me what is going on tyson in california i think the issue is that p. G. And e. Is a terribly run corporation and i think the solution has to be to have a new state agency takeover of that utility p. G. Needs problem is its a company that has prioritized its shareholders rather than its Public Interest service of providing electricity and went to Gavin Newsome who did he appeal to you to come rescue them warren buffet or write the same situation so lets turn back to our band fracking and the millennium on generations evodevo is what they want do they understand what it was and are they going to get it forget who it was said that democracy can only function if you have an informed populace this is one area where Education Needs to happen in terms of the Energy Infrastructure and policy not only among civilians but also the Politicians Congress and senate and we really need to go back to area an era of rationality sit down and think of Practical Solutions to these things because they exist but in the Practical Solutions well as we talked before i think the gas is the bridge fuel but obviously we need some type of further investment in renewables right you could we could have done a moonshiner renewables 10 years ago who knows where we would would we be no but you see what like musk is and what tesla there are solutions out there a lot of times theyre not obvious because we just talked about the electrical grid or the power plant people meet with the monopolies and you know everyones got their own little territories we need to bring in Market Access in those areas bring down the cost base and i think Climate Change is an accidental threat and i think young people are rallying around this they are upset that their leaders havent effectively responded they dont necessarily have all the answers but i think the young people have said themselves its not our job to come up with the answers its our job to push leaders to. Come up with the solutions and i think you know we see a lot of specifics from Bernie Sanders and Elizabeth Warren sometimes its the more simplistic just ban fracking but if you dive deep into these plans i mean Bernie Sanders and Elizabeth Warren talk a lot about Infrastructure Investment they talk a lot about renewables and i think that weve got candidates that are listening to the young people now and the interesting its effect on there too is that we may not control our destiny and Climate Change chinas now 40 percent of c o 2 emissions theyre building 300 gigawatt of coal power plants and to give you that reference germany only has 50 gigawatt took them 100 years to build it so theyre literally adding a germany worth of coal plants every year even if we are able to stay stable or reduce we no longer control or our destiny in Climate Change so those larger issues need to be also discussed while the sun never sets on the nay far and effective Energy Policy thats at 4 front running 2020 talking about Energy Policy max kaiser stacy ever thanks for watching today next time. Seemed wrong. Just dont call. Me. Yet to see how hes going to come to absolutely and in again from an equal betrayal. When so many find themselves worlds apart we choose to look for common ground. Yes nobody would know the movie but in your circles modesty leap in you know who or when you much for the group was a little older and theyre going to do more when you. Look. At. The white english sort of when youre already in the you since you know youre almost seems to trace. The. Protesters in central ukraine attack a convoy carrying 72 people of fact awaited from china over the koran a Virus Outbreak and put in quarantine for violence draws sharp condemnation from president selenski. French lawmakers call for an atari a sort of shock artist to be sent home to russia after the force of the electoral ambitions of a key ally of a man you might call on by publishing lewd images online. Donna faces a growing Health Crisis caused by vast quantities of electronic waste from the western world dumped in landfill sites