The overwhelming theme is the United States, China and use of coal. David Turk joins US now with Secretary Grand Homie is US Deputy Energy Secretary. David, thank you so much for joining us, and you do so with your service to the nation of six seven and eight jobs in climate. The immovable fact is we're trying to do something about coal. My latest reading is China's really not doing something about coal. What is the Department's timeline in America to diminish coal usage.

The overwhelming theme is the United States, China and use of coal. David Turk joins US now with Secretary Grand Homie is US Deputy Energy Secretary. David, thank you so much for joining us, and you do so with your service to the nation of six seven and eight jobs in climate. The immovable fact is we're trying to do something about coal. My latest reading is China's really not doing something about coal. What is the Department's timeline in America to diminish coal usage.

Well, first of all, Tom and Lisa, thanks for the time, and I really appreciate you being being with you today. So we've got to look across the board. It's not just coal, it's natural gas, it's oil. We've got to look at all the sources of emissions, and we've got to have a plan to build all the new clean energy. And this is what we've got in the US. We've got historic levels of funding through the pieces of legislation, the Biparties and infrastruct legislation, Inflation Reduction Act. We're building out our clean energy future like never before in our country.

Well, first of all, Tom and Lisa, thanks for the time, and I really appreciate you being being with you today. So we've got to look across the board. It's not just coal, it's natural gas, it's oil. We've got to look at all the sources of emissions, and we've got to have a plan to build all the new clean energy. And this is what we've got in the US. We've got historic levels of funding through the pieces of legislation, the Biparties and infrastruct legislation, Inflation Reduction Act. We're building out our clean energy future like never before in our country.

It's quite staggering. We're what we're doing.

It's quite staggering. We're what we're doing.

I go with that, and of course in the ft this morning. A huge difference between a complete, complete, complete climate commitment in Europe to the fractured battle you fight every day in the United States. But to look at coal as one example, particularly with the Chinese just ignoring the debate on coal from everything I read, what is the administration's path to shut down or diminish coal usage across America.

I go with that, and of course in the ft this morning. A huge difference between a complete, complete, complete climate commitment in Europe to the fractured battle you fight every day in the United States. But to look at coal as one example, particularly with the Chinese just ignoring the debate on coal from everything I read, what is the administration's path to shut down or diminish coal usage across America.

So we've seen dramatic declines in coal in our country and that's projected to continue going forward. It's because we have cheaper, better alternatives solar and wind. On the solar penetration we've got in our country, the wind, other clean energy technologies, they're just simply cheaper and better, and so the market is reacting to the incentives.

So we've seen dramatic declines in coal in our country and that's projected to continue going forward. It's because we have cheaper, better alternatives solar and wind. On the solar penetration we've got in our country, the wind, other clean energy technologies, they're just simply cheaper and better, and so the market is reacting to the incentives.

David, I'm looking right now at WTI crew traded on the nimax at seventy three dollars and forty sixcess. This is a good time to start refilling the Strategic Petroleum Reserve.

David, I'm looking right now at WTI crew traded on the nimax at seventy three dollars and forty sixcess. This is a good time to start refilling the Strategic Petroleum Reserve.

So we have been and we're going to be optortunistic and we're going to take every advantage when the price is at the right level to make a good deal for taxpayers, we're going to refill. So we are refilling as much as we can. We've been doing that for the last several months and at this price level, we'll keep doing it.

So we have been and we're going to be optortunistic and we're going to take every advantage when the price is at the right level to make a good deal for taxpayers, we're going to refill. So we are refilling as much as we can. We've been doing that for the last several months and at this price level, we'll keep doing it.

And it's been about three million barrel a month purchase at the Energy Department has been making. Do you plan to accelerate that though? As prices do continue to fall.

And it's been about three million barrel a month purchase at the Energy Department has been making. Do you plan to accelerate that though? As prices do continue to fall.

So that is the physical limit of how much we can buy back. We've got some lifetime extensions in some of our caverns. We actually have four separate facilities for separate sites for our strategic petroleum reserve, so we will be doing at least three million barrels and we hope we can bring more capacity online at these price levels to buy as much as we can to refill to make sure we've got that available when we need it future. So we'll buy as much back as we possibly can, but there are some physical constraints given the way the caverns are set up.

So that is the physical limit of how much we can buy back. We've got some lifetime extensions in some of our caverns. We actually have four separate facilities for separate sites for our strategic petroleum reserve, so we will be doing at least three million barrels and we hope we can bring more capacity online at these price levels to buy as much as we can to refill to make sure we've got that available when we need it future. So we'll buy as much back as we possibly can, but there are some physical constraints given the way the caverns are set up.

We've been talking a lot about some of the consolidation in the shale patch, with a number of companies coming to the latest coming this morning. Is this a good thing from the Energy Department standpoint or a bad thing?

We've been talking a lot about some of the consolidation in the shale patch, with a number of companies coming to the latest coming this morning. Is this a good thing from the Energy Department standpoint or a bad thing?

So, as you know, a lot of decisions that are made in the energy sector, certainly in our country or private sector decisions along those lines, and we're certainly seeing that happen as well. I think one good thing we've certainly seen is a focus from a lot of companies, including here at the Climate Conference, on reducing methane emissions.

So, as you know, a lot of decisions that are made in the energy sector, certainly in our country or private sector decisions along those lines, and we're certainly seeing that happen as well. I think one good thing we've certainly seen is a focus from a lot of companies, including here at the Climate Conference, on reducing methane emissions.

This is something we've been after for quite some time.

This is something we've been after for quite some time.

Our EPA colleagues recently announced some big news here in terms of the new regulatory structure to really do what's the biggest no brainer I think in the history of no brainers on climate is reduce methane emissions in the oil and gas sectors. So we're really stepping up on that, and we're seeing some companies step up on that beyond what they're required to do in the US.

Our EPA colleagues recently announced some big news here in terms of the new regulatory structure to really do what's the biggest no brainer I think in the history of no brainers on climate is reduce methane emissions in the oil and gas sectors. So we're really stepping up on that, and we're seeing some companies step up on that beyond what they're required to do in the US.

Take your point on that, there's some real traction on that, you know. I want to go back here. You are an advisor fresh out of Virginia to Senators Biden, Senator Conrad, You've had eighteen jobs and energy You've arguably, David Turke, Republicans and Democrats have more experience than anybody breathing today. How did we get to being an opex sized oil nation all of a sudden, we're like as big as a Rocker. You know, I'll let you decide what it is. How did we get to this hydrocarbon success that America is today.

Take your point on that, there's some real traction on that, you know. I want to go back here. You are an advisor fresh out of Virginia to Senators Biden, Senator Conrad, You've had eighteen jobs and energy You've arguably, David Turke, Republicans and Democrats have more experience than anybody breathing today. How did we get to being an opex sized oil nation all of a sudden, we're like as big as a Rocker. You know, I'll let you decide what it is. How did we get to this hydrocarbon success that America is today.

Well, first of all, Tom, thanks for the compliment. I'll make sure my mom sees this. And here's such a nice, nice compliment.

Well, first of all, Tom, thanks for the compliment. I'll make sure my mom sees this. And here's such a nice, nice compliment.

I think the.

I think the.

Short answer is, we are a private sector market. Unless you have federal laws, federal restrictions, a private sector will do what the private sector will do, and they found a lot of profit and a lot of opportunity, including and especially in shale in our country.

Short answer is, we are a private sector market. Unless you have federal laws, federal restrictions, a private sector will do what the private sector will do, and they found a lot of profit and a lot of opportunity, including and especially in shale in our country.

What do you say to the critics of the Biden administration that it is I'm not private sector centric.

What do you say to the critics of the Biden administration that it is I'm not private sector centric.

So look at the numbers, look at where the production levels are at. We also need to, of course, focus on the emissions coming from all of that oil and gas, not only that produce in the US, but around the world. And one disappointment I have to say here at the Climate Conference is, while we've made some progress on methane emissions, that's a big deal. I don't think there's as much focus as there needs to be on oil.

So look at the numbers, look at where the production levels are at. We also need to, of course, focus on the emissions coming from all of that oil and gas, not only that produce in the US, but around the world. And one disappointment I have to say here at the Climate Conference is, while we've made some progress on methane emissions, that's a big deal. I don't think there's as much focus as there needs to be on oil.

And gas scope three emissions.

And gas scope three emissions.

That is, those emissions produced when that oil that gasoline goes into the atmosphere. Scope three emissions are actually ten times the amount of Scope one in Scope two for many oil and gas companies, So we need a lot more focus on Scope three emissions. We need a real credible plan for dealing with those emissions.

That is, those emissions produced when that oil that gasoline goes into the atmosphere. Scope three emissions are actually ten times the amount of Scope one in Scope two for many oil and gas companies, So we need a lot more focus on Scope three emissions. We need a real credible plan for dealing with those emissions.

David, does it make it kind of awkward for the US to have a leadership position in reducing emissions at COP twenty eight, given the fact that US production has increased to a record pace, even as it's cut in places like Saudi Arabia and cutter.

David, does it make it kind of awkward for the US to have a leadership position in reducing emissions at COP twenty eight, given the fact that US production has increased to a record pace, even as it's cut in places like Saudi Arabia and cutter.

I feel incredibly proud to be part of this historic Biden administration when it comes to climate change. In fact, we're actually seeing our emissions decrease in the US three percent in twenty twenty three despite GDP growth, healthier than just about every other country.

I feel incredibly proud to be part of this historic Biden administration when it comes to climate change. In fact, we're actually seeing our emissions decrease in the US three percent in twenty twenty three despite GDP growth, healthier than just about every other country.

In the world.

In the world.

And what you've seen is with the historic pieces of legislation all we're doing in this administration, we're expected already, just in these few short years of policy, to actually double our emission reductions by twenty thirty forty percent plus reductions just from the actions from this administration. That's an impressive record.

And what you've seen is with the historic pieces of legislation all we're doing in this administration, we're expected already, just in these few short years of policy, to actually double our emission reductions by twenty thirty forty percent plus reductions just from the actions from this administration. That's an impressive record.

And we need to do more.

And we need to do more.

All countries around the world need to do more given the climate challenges that we face, and we're already seeing in our world today.

All countries around the world need to do more given the climate challenges that we face, and we're already seeing in our world today.

David Trick, thank you so much. She is a Deputy US Energy Secretary, of course from Dubai

David Trick, thank you so much. She is a Deputy US Energy Secretary, of course from Dubai