true that companies are not looking at building new coal fire power plants for a variety of reasons but when it comes to where we get our electricity from, without this without this regulatory overreach there will be more energy produced by coal than there would have been. paul: carbon omissions have declined in the united states certainly as a share of electric output and one of the reasons for that is natural gas because less carbon intensive than coal, do you see that trend continuing that would accomplish some of the climate change agenda that so many environmentalists want without heavy-handed regulation? well, as you say, it really is clear that the market is driving significant reductions and everyone i know in the industry does expect that to continue for ways into the future just because of the natural gas revolution and what we have been able to produce here in the united states and
position as it might have been in this deal. i agree with katty completely. it s also an indication that the energy revolution that s coming to the united states is scaring the russians for good reason. causing great concern to china. and this is it s both of these countries that are often bad actors on the international stage doing what s in their best interest. and certainly, katty, the last thing that either china or russia wants is to have the united states of america being the top producer of oil on the globe and having this natural gas revolution. and not somehow figuring out a way to counterbalance the additional power we re going to experience over the next decade. this is classic balance of power politics, isn t it? yeah. smacks of the cold war all over again when you ve got superpowers on different sides of the globe trying to duke it out over energy concerns. you re right about fears from
that we perhaps are increasing our dependence on fossil-burning fuels by going forward with fracking? well, first of all, the natural gas revolution that we have had, we really should put in the context, number one, of having an enormous economic boost in this country. we have seen 100 to $150 billion invested in new manufacturing in this country because of the availability of low to moderate cost gas. we have seen at least in most of the country consumer bills reduced. we have also seen the abundance of natural gas lead to a reduction in our co2 emissions. now the trick is we have to do that while continuing to minimize the environmental footprint of production. that is one of the things that we are focusing on, along with other agencies, department of energy, department of interior, epa, so we are advancing that
this. not just the politics bob, doesn t make any sense it is substance. we have been flat on carbon emissions recently, largely because of natural gas revolution. china and india are driving this. 35 gigatons carbon going into the atmosphere every year. we re less than 1/6 of that. we could eliminate all our carbon would be immediately made up by others. if they are worried so much they should go on a tour, to on a long trip to china and india and tour those countries say you guys shut down your coal plants and get nowhere on this because they will not hurt carbon dioxide every year put in the by united states. yes, you re right, india, developing nations. came to the stage late. they won t sign protocols except that george bush signed the copenhagen agreement said we will not allow the climate to increase two percentage points if it does that is catastrophic and beyond our power bob. we don t control this. this is global phenomenon.
increasing production in 2012 alone. quite astonishing. the federal government hasn t been involved in doing this. they have been involved in stepping back and letting the states regulate. at the same time the president has claimed some credit for it and he does have a wonderful secretary of energy who is an expert. how did this happen? i know harold hamm created technology, revolutionized us so much. are we going to look back 10, 15, 20 years when we re exporting more oil than everybody else and we have this natural gas revolution, we ll look at a guy like harold hamm and say that guy changed america s energy outlook? it does seem like the private-sector has done this and they have taken technologies that existed before. they combined them, persevered, created and the results are quite incredible. do you see one that, when you look at the marketplace that has an advantage over the others and