1 00:00:00,080 --> 00:00:02,560 Speaker 1: The cop twenty eight Climate Summit ended in Dubai, and 2 00:00:02,840 --> 00:00:05,040 Speaker 1: there actually was a landmark deal to come out of that. 3 00:00:05,240 --> 00:00:08,360 Speaker 1: It commits the world to transition away from fossil fuels 4 00:00:08,360 --> 00:00:10,639 Speaker 1: twenty eight meetings, and that's the first time that we've 5 00:00:10,640 --> 00:00:13,600 Speaker 1: had that actually enshrined in writing. It calls from more 6 00:00:13,640 --> 00:00:16,560 Speaker 1: countries to make the shift in a just and orderly 7 00:00:16,640 --> 00:00:19,680 Speaker 1: fashion and to triple the amount of renewable energy like 8 00:00:19,720 --> 00:00:23,720 Speaker 1: wind and solar power installed around the world by twenty thirty. 9 00:00:24,000 --> 00:00:26,599 Speaker 1: Allie's ad is a National Climate Advisor over at the 10 00:00:26,600 --> 00:00:29,640 Speaker 1: White House. He's just fresh off the plane from Dubai, 11 00:00:29,680 --> 00:00:31,800 Speaker 1: and I do want to start off here just to 12 00:00:31,400 --> 00:00:34,600 Speaker 1: get an assessment of whether you thought it was a success. 13 00:00:35,200 --> 00:00:39,120 Speaker 2: You know, this is a significant step forward. There's a 14 00:00:39,120 --> 00:00:41,240 Speaker 2: lot of work to do. That was a big part 15 00:00:41,320 --> 00:00:44,760 Speaker 2: of the stock take in Dubai. There's a big gap 16 00:00:44,800 --> 00:00:48,520 Speaker 2: relative to our collective ambitions, but we took a step 17 00:00:48,520 --> 00:00:52,040 Speaker 2: forward in naming the challenges that we face in terms 18 00:00:52,120 --> 00:00:55,600 Speaker 2: of our reliance on fossil fuels and then setting these 19 00:00:55,640 --> 00:00:59,800 Speaker 2: really ambitious targets on renewable energy. At home. We're working 20 00:00:59,840 --> 00:01:03,600 Speaker 2: to expand our capacity to produce the products that allow 21 00:01:03,720 --> 00:01:04,800 Speaker 2: us to hit these goals. 22 00:01:05,120 --> 00:01:08,080 Speaker 1: I do wonder about the commitment to this though. It's 23 00:01:08,080 --> 00:01:10,080 Speaker 1: one thing to put it in writing, and there'll be 24 00:01:10,120 --> 00:01:12,479 Speaker 1: certain countries, maybe like the US, that will move forward 25 00:01:12,480 --> 00:01:14,600 Speaker 1: in this. So you have confidence though that the other 26 00:01:14,640 --> 00:01:17,200 Speaker 1: members who signed onto this will follow through. 27 00:01:17,760 --> 00:01:20,880 Speaker 2: Look, accountability is a central part of this and the 28 00:01:20,920 --> 00:01:25,440 Speaker 2: whole Paris mechanism. The meeting in Dubai really follows on 29 00:01:25,600 --> 00:01:28,760 Speaker 2: eight years since the Paris Climate Agreement was achieved. The 30 00:01:28,800 --> 00:01:33,840 Speaker 2: whole Paris mechanism relies on transparency and accountability from peers 31 00:01:34,200 --> 00:01:37,119 Speaker 2: and from civil society. So we've got to bring that accountability. 32 00:01:37,400 --> 00:01:40,319 Speaker 2: But if you look at the scoreboard, the International Energy 33 00:01:40,319 --> 00:01:46,120 Speaker 2: Agency says we are increasing our deployment of clean energy technologies. 34 00:01:46,280 --> 00:01:49,440 Speaker 2: That's reducing demand for fossil so we'll see that demand 35 00:01:49,520 --> 00:01:53,800 Speaker 2: peak and I think this gives additional momentum to that trajectory. 36 00:01:54,000 --> 00:01:56,760 Speaker 3: Well, let's talk a little bit more specifically about the 37 00:01:56,880 --> 00:02:00,360 Speaker 3: US and accountability because, as I'm sure you're where, US 38 00:02:00,400 --> 00:02:04,160 Speaker 3: production of oil of fossil fuels has been surging. So 39 00:02:04,480 --> 00:02:07,520 Speaker 3: if you have the US opening new oil and gas fields, 40 00:02:07,520 --> 00:02:09,320 Speaker 3: does that betray the pledge in anyway? 41 00:02:09,880 --> 00:02:11,840 Speaker 2: I think what we've got to focus on is our 42 00:02:11,919 --> 00:02:15,640 Speaker 2: targets as we look forward right twenty thirty, cut our 43 00:02:15,720 --> 00:02:18,720 Speaker 2: missions by fifty to fifty two percent, put ourselves on 44 00:02:18,760 --> 00:02:21,080 Speaker 2: a trajectory no later than twenty fifty to get to 45 00:02:21,160 --> 00:02:24,280 Speaker 2: that zero, and that's got to allow us to meet 46 00:02:24,320 --> 00:02:26,520 Speaker 2: those goals. We've got to move on a bunch of 47 00:02:26,520 --> 00:02:29,919 Speaker 2: different parallel tracks. The first to your point is we've 48 00:02:29,960 --> 00:02:33,760 Speaker 2: got to make sure that we're meeting near term demand. 49 00:02:34,240 --> 00:02:36,680 Speaker 2: And that's where you know, we've got to accept the 50 00:02:36,720 --> 00:02:41,119 Speaker 2: reality of the stock we have, whether it's in buildings, transportation, 51 00:02:41,280 --> 00:02:44,400 Speaker 2: or the power sector. But we're rapidly turning that stock 52 00:02:44,440 --> 00:02:48,240 Speaker 2: over to clean energy, whether it's electric vehicles, or it's 53 00:02:48,480 --> 00:02:51,520 Speaker 2: clean heat in buildings, or its solar and wind. So 54 00:02:51,800 --> 00:02:54,680 Speaker 2: that's how we wean ourselves off of fossil fuels. I 55 00:02:54,680 --> 00:02:57,800 Speaker 2: think we're doing that in a robust fashion under the 56 00:02:57,800 --> 00:02:58,800 Speaker 2: President's leadership. 57 00:02:59,000 --> 00:03:01,760 Speaker 3: Well, let's talk to about hydrogen here. Of course, we're 58 00:03:01,800 --> 00:03:06,040 Speaker 3: waiting for Treasury Department guidance for claiming hydrogen production tax credits. 59 00:03:06,040 --> 00:03:09,720 Speaker 3: Those rules. I believe we're expecting them next week. They've 60 00:03:09,720 --> 00:03:12,200 Speaker 3: been the subject of a lot of lobbying and a 61 00:03:12,240 --> 00:03:15,920 Speaker 3: lot of pushback from the likes of Senator Joe Manchin. 62 00:03:16,320 --> 00:03:20,440 Speaker 3: What is the guiding mission statement of those tax credits 63 00:03:20,480 --> 00:03:23,320 Speaker 3: and how is the administration thinking about some of that pushback? 64 00:03:23,720 --> 00:03:27,560 Speaker 2: So our guiding light in setting the rules to implement 65 00:03:27,600 --> 00:03:30,400 Speaker 2: the Inflation Reduction Act. The biggest investment in climate in 66 00:03:30,440 --> 00:03:33,399 Speaker 2: the history of the world is to boost our energy security, 67 00:03:33,720 --> 00:03:37,640 Speaker 2: to spur US manufacturing, to cut costs for consumers, and 68 00:03:37,720 --> 00:03:41,640 Speaker 2: to create the certainty that allows for accelerated capital formation 69 00:03:41,720 --> 00:03:45,800 Speaker 2: and project development. Today we issued rules on the manufacturing 70 00:03:46,320 --> 00:03:50,040 Speaker 2: tax credit forty five X. I think that will accelerate 71 00:03:50,280 --> 00:03:54,839 Speaker 2: things like the manufacturer of solar, of wind turbines, etc. 72 00:03:56,040 --> 00:03:58,680 Speaker 2: I think with hydrogen the goal is the same. How 73 00:03:58,720 --> 00:04:05,840 Speaker 2: do we not only deploy the availability of clean hydrogen, 74 00:04:06,080 --> 00:04:09,040 Speaker 2: but really reposition the US to lead on the core 75 00:04:09,120 --> 00:04:13,440 Speaker 2: technology the electoralizers make them here at places like Cummins 76 00:04:13,640 --> 00:04:19,400 Speaker 2: in Minnesota, and sees the advantage going into decades that 77 00:04:19,440 --> 00:04:22,279 Speaker 2: will be defined by this race to supply the world. 78 00:04:22,440 --> 00:04:24,279 Speaker 1: Well, what do you make of what's been going on 79 00:04:24,360 --> 00:04:26,920 Speaker 1: with regards to the adoption of electric vehicle or really 80 00:04:26,960 --> 00:04:30,880 Speaker 1: just a non gasoline powered vehicles. Here we had kind 81 00:04:30,880 --> 00:04:33,760 Speaker 1: of this big surge for a while in EV adoption, 82 00:04:33,880 --> 00:04:36,160 Speaker 1: and that really has slowed for a variety of reasons. 83 00:04:36,400 --> 00:04:38,040 Speaker 1: But I am curious as to whether you think that 84 00:04:38,120 --> 00:04:40,839 Speaker 1: some of those loftier goals that people had for production 85 00:04:40,920 --> 00:04:43,800 Speaker 1: and sales targets of eves and hybrids, etc. Whether that 86 00:04:43,839 --> 00:04:44,960 Speaker 1: can still be met. 87 00:04:45,200 --> 00:04:48,120 Speaker 2: I think we're still surging. If you look at where 88 00:04:48,120 --> 00:04:50,240 Speaker 2: we were in twenty twenty one when the President came 89 00:04:50,279 --> 00:04:53,400 Speaker 2: into office. We've doubled the number of charging stations that 90 00:04:53,480 --> 00:04:56,480 Speaker 2: line our roads and highways, and we're on a trajectory 91 00:04:56,520 --> 00:05:00,320 Speaker 2: to get five hundred thousand installed. We've doubled the number 92 00:05:00,320 --> 00:05:02,640 Speaker 2: of models that are available. By the end of next year, 93 00:05:02,640 --> 00:05:05,839 Speaker 2: will have doubled it again to almost one hundred. We've 94 00:05:05,880 --> 00:05:09,960 Speaker 2: got ten million evs worth of battery factories that are 95 00:05:10,000 --> 00:05:12,040 Speaker 2: going to be in production by twenty thirty. 96 00:05:12,120 --> 00:05:14,839 Speaker 1: So you know, if you just look what is that, 97 00:05:14,920 --> 00:05:16,600 Speaker 1: a build it and they will come. Because right now 98 00:05:16,600 --> 00:05:18,240 Speaker 1: people aren't coming. I mean, the prices for a lot 99 00:05:18,240 --> 00:05:20,200 Speaker 1: of these vehicles are still high, and as you know, 100 00:05:20,440 --> 00:05:22,360 Speaker 1: there's still a lot of range anxiety, and if you 101 00:05:22,400 --> 00:05:25,479 Speaker 1: don't live in say a single family home where you 102 00:05:25,480 --> 00:05:27,559 Speaker 1: can sell a charger, there's still a lot of people 103 00:05:27,560 --> 00:05:29,920 Speaker 1: wringing their hands about if I live in an apartment, 104 00:05:30,040 --> 00:05:32,520 Speaker 1: can I really have an ev Yeah. 105 00:05:32,560 --> 00:05:35,320 Speaker 2: Look, we had a period in the last couple of 106 00:05:35,400 --> 00:05:39,000 Speaker 2: years because of supply chain issues globally that lithium ion 107 00:05:39,040 --> 00:05:42,360 Speaker 2: prices actually flatline, maybe increased a little bit. This year, 108 00:05:42,360 --> 00:05:46,360 Speaker 2: we're seeing them come back down again. Bloomberg has done 109 00:05:46,400 --> 00:05:50,480 Speaker 2: analysis that says that the cost curves will align in 110 00:05:50,720 --> 00:05:53,640 Speaker 2: just a matter of a couple of years. If you 111 00:05:53,720 --> 00:05:56,640 Speaker 2: think that's bullish, maybe it's a few years out beyond that. 112 00:05:56,960 --> 00:06:01,080 Speaker 2: But you pair that with the incredible momentum I think 113 00:06:01,160 --> 00:06:04,560 Speaker 2: that is being spurred by the OEMs. What we're seeing 114 00:06:04,640 --> 00:06:08,080 Speaker 2: with workers really be part of that transition. The success 115 00:06:08,080 --> 00:06:10,880 Speaker 2: of the UAW and then incentives at the state level 116 00:06:10,920 --> 00:06:14,599 Speaker 2: on top of the Biden tax credit for evs. I 117 00:06:14,640 --> 00:06:17,880 Speaker 2: think we're on a secular and very clear trajectory in 118 00:06:17,960 --> 00:06:20,880 Speaker 2: terms of the deployment of this technology in the US 119 00:06:20,960 --> 00:06:22,000 Speaker 2: and leading the world on it. 120 00:06:22,240 --> 00:06:24,840 Speaker 1: All Right, Ali, really appreciate you taking time for ris 121 00:06:24,960 --> 00:06:28,520 Speaker 1: that's Ali's ady. He's the White House's National Climate Advisor, 122 00:06:28,560 --> 00:06:30,839 Speaker 1: and discussion here about some of those climate goals not 123 00:06:30,880 --> 00:06:33,080 Speaker 1: only here in the US, but abroad as well.