are you alarmed? i m concerned and i know president biden is obviously concerned because he s taken the leadership position as bringing america back as a leader on climate change in the global basis and he went to glasgow last year leading the effort to help less developed countries and vulnerable nations be able to adapt, build resilience. he put forward very serious amount of money to help in this transition. the problem is there have is been intervening events, obviously. but also we re fighting the status quo. the president has put forward very bold proposals. he wants a 50-52% reduction in emissions within the united states before 2030. he set us on an extraordinary path of the building of electric vehicles, all electric vehicles
i think the president knows that many of these leases that have been granted are not going to be drilled in. we have are an oil and gas industry in the united states that owns massive number of leases already that have been permitted and they are not drilling. so, i look at this as a temporary measure to relieve the price pressure, which is essential to keeping the population committed, moving these directions. and i think it s understandable. i know the president has changed already behavior in very significant ways. for instance, general motors and ford motor company have spent hundreds of millions retooling their plants in the united states so that by 2030, 50% of vehicles we make in america will be electric and by 2035, all vehicles we make in america would be electric.