1 00:00:04,000 --> 00:00:05,200 Speaker 1: Everybody. It's Bill Courtney. 2 00:00:05,240 --> 00:00:08,560 Speaker 2: Welcome to the shop for Shop Talk number eighty. 3 00:00:09,480 --> 00:00:12,280 Speaker 3: I got two numbers for you. Let me ask you first, 4 00:00:12,360 --> 00:00:14,160 Speaker 3: which football players were a number eighty? 5 00:00:14,600 --> 00:00:16,360 Speaker 1: Which football players were number eighty? 6 00:00:16,600 --> 00:00:18,680 Speaker 4: Famously, Jerry Rice, There you go, that was one of them. 7 00:00:19,520 --> 00:00:24,639 Speaker 2: Another eighty Jerry Rice was Michael or no, Michael, Chris Carter, 8 00:00:24,960 --> 00:00:28,080 Speaker 2: Chris Carter. Bigs say, yeah, Chris Carter was a player. 9 00:00:28,480 --> 00:00:31,800 Speaker 2: But Jerry Rice and Chris Carter Jerry Rice, Yeah, eighty. 10 00:00:32,159 --> 00:00:35,520 Speaker 1: That's pretty cool. So welcome to shop Talk number eighty. 11 00:00:35,560 --> 00:00:39,440 Speaker 2: Today we're going to talk progress, freedom, and energy, three 12 00:00:39,440 --> 00:00:43,040 Speaker 2: things that are interesting and important. 13 00:00:42,640 --> 00:00:44,400 Speaker 4: And somehow in together. 14 00:00:44,640 --> 00:00:47,479 Speaker 2: Yeah, but Alex has found a way two time together 15 00:00:48,000 --> 00:00:52,600 Speaker 2: and it centers around Chris Wright's commencement speech at the 16 00:00:52,680 --> 00:00:58,400 Speaker 2: University of Colorado at Denver's Global Energy Management Program in 17 00:00:58,880 --> 00:01:03,160 Speaker 2: two thousand sixteen. Oddly, I've spoken at the University of 18 00:01:03,200 --> 00:01:06,479 Speaker 2: Colorado at Denver, but it was not this speech, nor 19 00:01:06,520 --> 00:01:08,959 Speaker 2: am I Chris right, nor was it in twenty sixteen. 20 00:01:09,640 --> 00:01:13,000 Speaker 2: So right after these brief messages from our generous sponsors, 21 00:01:13,040 --> 00:01:16,600 Speaker 2: we're going to talk progress, feed them, and energy through 22 00:01:16,640 --> 00:01:22,320 Speaker 2: the lens of Chris Wright's commencement speech at Colorado University 23 00:01:22,319 --> 00:01:42,680 Speaker 2: at Denver right after these three messages from our center sponsors. Hey, everybody, 24 00:01:42,760 --> 00:01:46,160 Speaker 2: welcome back to shop. Talk almost didn't ring the bell, 25 00:01:46,680 --> 00:01:48,240 Speaker 2: by the way. Welcome to the shop, Alex. 26 00:01:48,280 --> 00:01:48,920 Speaker 1: How are you? Thank you? 27 00:01:49,120 --> 00:01:49,720 Speaker 4: I'm doing great. 28 00:01:49,760 --> 00:01:52,880 Speaker 2: I didn't even welcome you in. I'm so sorry. I 29 00:01:53,000 --> 00:01:55,640 Speaker 2: was so rude. You can have a five percent discount 30 00:01:55,680 --> 00:02:00,640 Speaker 2: on anything today in the shop for my rudeness. Okay, today. 31 00:02:00,840 --> 00:02:03,960 Speaker 2: Chris writes commencement speech at the University of Colorado at 32 00:02:03,960 --> 00:02:09,760 Speaker 2: Denver's Global Energy Management Program in twenty sixteen, discussing progress, freedom, 33 00:02:09,919 --> 00:02:14,720 Speaker 2: and energy, three interesting topics, all of import that aren't 34 00:02:14,760 --> 00:02:15,880 Speaker 2: often found together. 35 00:02:16,040 --> 00:02:18,680 Speaker 1: So I'm interested to see what Alex Dugo may. 36 00:02:18,720 --> 00:02:21,520 Speaker 4: I'll just give five seconds of context. I've interviewed Chris 37 00:02:21,560 --> 00:02:22,359 Speaker 4: before you have. 38 00:02:22,760 --> 00:02:23,080 Speaker 1: So he. 39 00:02:24,560 --> 00:02:25,760 Speaker 4: Grew up with a single mom. 40 00:02:25,919 --> 00:02:28,720 Speaker 3: Actually, when i've interviewed him, I mean, he brings up 41 00:02:28,720 --> 00:02:31,840 Speaker 3: his mom and he can't not cry. And this guy's 42 00:02:31,880 --> 00:02:34,360 Speaker 3: got a real soul to him and he ends up 43 00:02:34,360 --> 00:02:37,400 Speaker 3: creating his multi billion dollar energy company called Liberty Energy. 44 00:02:37,840 --> 00:02:40,200 Speaker 3: So anyway, this is a super compelling speech that I 45 00:02:40,200 --> 00:02:41,840 Speaker 3: think you guys will find of interest. 46 00:02:42,080 --> 00:02:44,520 Speaker 1: Okay, here is his speech. 47 00:02:45,200 --> 00:02:48,440 Speaker 2: Less than twenty years ago, in our country, life expectancy 48 00:02:48,600 --> 00:02:49,800 Speaker 2: was about forty years old. 49 00:02:50,560 --> 00:02:53,160 Speaker 4: Globally, I say twenty two hundred years? 50 00:02:53,560 --> 00:02:54,280 Speaker 1: Did I say twenty? 51 00:02:54,320 --> 00:02:57,200 Speaker 4: I think you said twenty twenty? Would it makes. 52 00:02:57,080 --> 00:02:58,880 Speaker 1: Sense twenty would not be true. 53 00:02:59,560 --> 00:03:03,280 Speaker 2: Less than two hundred years ago, in the US, life 54 00:03:03,320 --> 00:03:08,040 Speaker 2: expectancy was only about forty years. Globally, life expectancy was 55 00:03:08,160 --> 00:03:13,360 Speaker 2: actually thirty five years old. Two thousand years ago. Global 56 00:03:13,400 --> 00:03:16,560 Speaker 2: life expectancy is thought to have been little more than 57 00:03:16,600 --> 00:03:20,920 Speaker 2: thirty years. Only a few years at most were added 58 00:03:20,919 --> 00:03:25,400 Speaker 2: to the average human lifespan over many millennia. But somehow 59 00:03:25,440 --> 00:03:28,920 Speaker 2: we've added an additional four decades to human life expectancy 60 00:03:28,960 --> 00:03:33,399 Speaker 2: over the last two centuries. First of all, that's really interesting. 61 00:03:33,520 --> 00:03:36,040 Speaker 2: Before we go a I've never I mean, that's obvious, 62 00:03:36,120 --> 00:03:38,240 Speaker 2: but I've never even considered that I had an neither 63 00:03:38,280 --> 00:03:41,480 Speaker 2: intelos two thousand years, we managed to add five years 64 00:03:41,480 --> 00:03:45,120 Speaker 2: of life expectancy, and then in a couple of centuries 65 00:03:45,160 --> 00:03:46,480 Speaker 2: we add forty years. 66 00:03:46,960 --> 00:03:49,400 Speaker 1: It's incredible. Okay, I'll continue. 67 00:03:49,440 --> 00:03:50,320 Speaker 4: Were about to learn why? 68 00:03:50,600 --> 00:03:52,400 Speaker 1: Hey, well, he says why. 69 00:03:52,760 --> 00:03:56,119 Speaker 2: How, of course, there are many reasons and public health 70 00:03:56,120 --> 00:04:00,360 Speaker 2: advancements were likely the most critical approximate calls. Why did 71 00:04:00,360 --> 00:04:05,560 Speaker 2: those advancements only occur so recently? What was the ultimate cause? 72 00:04:07,040 --> 00:04:09,560 Speaker 2: I believe that there were two major ultimate callses first 73 00:04:09,560 --> 00:04:14,320 Speaker 2: and foremost, the dramatic expansion of individual liberty and property 74 00:04:14,400 --> 00:04:18,120 Speaker 2: rights in the first half of the nineteenth century. Expand 75 00:04:18,279 --> 00:04:22,599 Speaker 2: individual liberty and property rights replaced mercantilism, a system where 76 00:04:22,720 --> 00:04:26,839 Speaker 2: kings and queens governments tightly controlled the granting of corporate 77 00:04:26,920 --> 00:04:33,080 Speaker 2: charters to only the wealthy, connected, and favored. Mercantilism was 78 00:04:33,120 --> 00:04:36,159 Speaker 2: replaced with a system where citizens could more freely and 79 00:04:36,320 --> 00:04:42,640 Speaker 2: equally engage in commerce. This new found freedom unleashed human enterprise, innovation, 80 00:04:42,800 --> 00:04:47,359 Speaker 2: and creative in creativity like never before, most famously in 81 00:04:47,400 --> 00:04:50,919 Speaker 2: the rapid spread of the steam engine, pioneered in the 82 00:04:50,960 --> 00:04:54,839 Speaker 2: previous century by Thomas Newcomb and James Watt, to power 83 00:04:54,960 --> 00:04:59,320 Speaker 2: water pumps, textile machinery, and trains for the first time 84 00:04:59,360 --> 00:05:02,799 Speaker 2: in human history. The standard of living of the average 85 00:05:02,839 --> 00:05:06,800 Speaker 2: person began to consistently grow, and by now has increased 86 00:05:07,080 --> 00:05:09,920 Speaker 2: in the developed world by roughly twenty five folds since 87 00:05:09,960 --> 00:05:16,200 Speaker 2: eighteen forty tenfold. Globally, humans not only doubled their life expectancy. 88 00:05:16,240 --> 00:05:20,560 Speaker 2: They also became dramatically wealthier and freer. We are all 89 00:05:20,640 --> 00:05:23,360 Speaker 2: quite lucky to be living today and not two hundred 90 00:05:23,400 --> 00:05:26,839 Speaker 2: years ago. For economic freedom and human liberty to bear fruit, 91 00:05:28,400 --> 00:05:33,040 Speaker 2: one other factor had to be present energy, and lots 92 00:05:33,080 --> 00:05:35,600 Speaker 2: of it. Before these dramatic changes and property rights in 93 00:05:35,720 --> 00:05:40,600 Speaker 2: human liberty unleashed economic growth, nearly all human energy was 94 00:05:40,640 --> 00:05:44,840 Speaker 2: supplied by biomass. This meant the burning of trees, sticks, grass, 95 00:05:44,880 --> 00:05:48,320 Speaker 2: and dung a rather limited energy source that could never 96 00:05:48,480 --> 00:05:53,640 Speaker 2: power the Industrial revolution. Something much vast, denser, and more 97 00:05:53,760 --> 00:05:57,719 Speaker 2: uniform would need to power machines. Coal was first to 98 00:05:57,760 --> 00:06:01,920 Speaker 2: fit the bill, and the rest is history. Sadly, biomass 99 00:06:01,960 --> 00:06:04,839 Speaker 2: remains the primary source of energy today for over a 100 00:06:04,880 --> 00:06:08,920 Speaker 2: billion humans who still lack access to electricity, and nearly 101 00:06:08,960 --> 00:06:15,120 Speaker 2: another billion who have only unreliable electricity. Burning biomass not 102 00:06:15,160 --> 00:06:19,600 Speaker 2: only provides warmth, but it is critical for cooking food. Unfortunately, 103 00:06:19,600 --> 00:06:22,920 Speaker 2: pollution from indoor burning of wood, grass, and dung kills 104 00:06:23,000 --> 00:06:26,440 Speaker 2: roughly three million people per year. Together with hunger, lack 105 00:06:26,480 --> 00:06:30,320 Speaker 2: of access to clean drinking water, and malaria, these four 106 00:06:30,400 --> 00:06:34,040 Speaker 2: killers are responsible for fifteen million dus per year. Bringing 107 00:06:34,040 --> 00:06:37,599 Speaker 2: affordable energy to the world's poor will be essential to 108 00:06:37,640 --> 00:06:43,240 Speaker 2: eradicating these four scourges. Advancements in energy made the modern 109 00:06:43,279 --> 00:06:47,200 Speaker 2: world possible, from plane strains and automobiles to computers, the Internet, 110 00:06:47,279 --> 00:06:52,799 Speaker 2: modern medicine, and wireless communication. Abundant cheap energy powered air conditioning, 111 00:06:52,839 --> 00:06:56,880 Speaker 2: which enabled cities to develop in the tropics. Energy allowed 112 00:06:56,960 --> 00:06:59,560 Speaker 2: modern medicine to spread across the globe, and perhaps the 113 00:06:59,600 --> 00:07:04,760 Speaker 2: most relevant to this room, energy enabled widespread higher education, 114 00:07:05,520 --> 00:07:10,200 Speaker 2: like the University of Colorado's Global Energy Management Program. The 115 00:07:10,240 --> 00:07:14,600 Speaker 2: British intellectual and author Matt Ridley gives a very fitting 116 00:07:14,680 --> 00:07:18,920 Speaker 2: example of how advancements in energy and technology have revolutionized 117 00:07:18,960 --> 00:07:24,800 Speaker 2: something fundamental to education, the reading light. In eighteen hundred, 118 00:07:24,800 --> 00:07:27,480 Speaker 2: it took the average person six hours of labor to 119 00:07:27,560 --> 00:07:30,600 Speaker 2: earn one hour of reading light from a tallow candle. 120 00:07:31,440 --> 00:07:35,520 Speaker 2: How rare bedtime stories must have been back then. By 121 00:07:35,600 --> 00:07:39,280 Speaker 2: eighteen eighty, two decades after the first oil well was 122 00:07:39,360 --> 00:07:45,240 Speaker 2: drilled in Titusville, Pennsylvania, kerosene lamps lowered this by twenty fourfold, 123 00:07:45,400 --> 00:07:48,840 Speaker 2: only fifteen minutes of labor to warn one hour of 124 00:07:48,880 --> 00:07:53,960 Speaker 2: reading light. That is so interesting, However, there was still 125 00:07:54,000 --> 00:07:57,840 Speaker 2: a rather significant investment for the average worker. Today, it 126 00:07:57,920 --> 00:08:00,840 Speaker 2: requires the average worker only a small fraction of a 127 00:08:01,000 --> 00:08:04,120 Speaker 2: second of labor to earn an hour of reading light. 128 00:08:05,000 --> 00:08:08,040 Speaker 2: The excuse I couldn't finish my assignment because I ran 129 00:08:08,080 --> 00:08:12,720 Speaker 2: out of reading lights simply no longer exist. Coal was 130 00:08:12,760 --> 00:08:16,240 Speaker 2: the first major source of energy beyond biomass. It pioneered 131 00:08:16,280 --> 00:08:18,600 Speaker 2: the spread of the Industrial Revolution. By the middle of 132 00:08:18,600 --> 00:08:22,600 Speaker 2: the nineteenth century, it became a meaningful contributor to total 133 00:08:22,640 --> 00:08:27,320 Speaker 2: world energy consumption. Oil became significant fifty years later, as 134 00:08:27,400 --> 00:08:32,560 Speaker 2: automobiles and internal combustion engine burst on the scene. Before long, 135 00:08:32,760 --> 00:08:37,040 Speaker 2: oil enabled high speed mass transportation to spread across the globe. 136 00:08:37,559 --> 00:08:40,560 Speaker 2: Natural gas didn't become a major source of energy until 137 00:08:40,760 --> 00:08:44,560 Speaker 2: after World War II, as required a large pipeline network 138 00:08:44,600 --> 00:08:50,280 Speaker 2: to transport it. These three hydrocarbons, coal, oil, and gas 139 00:08:50,760 --> 00:08:53,360 Speaker 2: have supplied over eighty percent of the US and world 140 00:08:53,600 --> 00:08:57,960 Speaker 2: energy during my lifetime. Nuclear, hydro and buyer mass have 141 00:08:58,000 --> 00:09:03,439 Speaker 2: supplied almost all the rest. The biggest energy transformation during 142 00:09:03,480 --> 00:09:06,280 Speaker 2: my career has not been from a new energy source, 143 00:09:06,360 --> 00:09:12,800 Speaker 2: but instead within the realm of hydrocarbons. American entrepreneurship, innovation, 144 00:09:13,040 --> 00:09:17,800 Speaker 2: and determination launched the American shale revolution that has radically 145 00:09:17,840 --> 00:09:21,800 Speaker 2: altered the American world energy landscapes just over the last 146 00:09:21,800 --> 00:09:25,600 Speaker 2: ten years. The shale revolution was simply a different way 147 00:09:25,679 --> 00:09:30,560 Speaker 2: to execute hydraulic fracturing and older technology and advancements in 148 00:09:30,640 --> 00:09:34,520 Speaker 2: drilling technologies to tap oil and gas from the source 149 00:09:34,640 --> 00:09:38,280 Speaker 2: rocks where oil and gas were originally created. This recent 150 00:09:38,360 --> 00:09:43,240 Speaker 2: revolution has been transformative. Natural gas now heats over half 151 00:09:43,320 --> 00:09:47,240 Speaker 2: of US homes and provides nearly forty percent of our electricity. 152 00:09:47,760 --> 00:09:50,800 Speaker 2: Two years ago, it surpassed coal as our largest source 153 00:09:50,800 --> 00:09:55,200 Speaker 2: of electricity. It is the dominant fuel powering factories, and 154 00:09:55,280 --> 00:10:00,360 Speaker 2: a major feedstock for petrochemicals and nitrogen fertilizer. Urge in 155 00:10:00,400 --> 00:10:03,600 Speaker 2: the supply of American natural gas not only dramatically lowered 156 00:10:03,720 --> 00:10:07,080 Speaker 2: energy costs for US consumers, but it is also launching 157 00:10:07,120 --> 00:10:10,760 Speaker 2: a renaissance in the US manufacturing. Due to our tremendous 158 00:10:10,920 --> 00:10:15,040 Speaker 2: energy cost advantage over all other industrial countries, the US 159 00:10:15,080 --> 00:10:19,400 Speaker 2: has now become a net exporter of natural gas. In fact, 160 00:10:19,440 --> 00:10:22,040 Speaker 2: we're now the third largest export of natural gas in 161 00:10:22,080 --> 00:10:24,720 Speaker 2: the world. Quite a reversal of fortune. Is only a 162 00:10:24,760 --> 00:10:28,920 Speaker 2: decade ago, we were building multi billion dollar terminals to 163 00:10:29,000 --> 00:10:33,160 Speaker 2: import natural gas into the United States. Now these terminals 164 00:10:33,160 --> 00:10:38,160 Speaker 2: export natural gas. The shell revolution impact on oil markets 165 00:10:38,160 --> 00:10:42,120 Speaker 2: has been even more profound. US dependent on oil imports 166 00:10:42,200 --> 00:10:45,120 Speaker 2: dropped from sixty percent twelve years ago to only fifteen 167 00:10:45,120 --> 00:10:49,640 Speaker 2: percent today and remain falling. The more than doubling in 168 00:10:49,800 --> 00:10:52,280 Speaker 2: US oil production over the last eight years has made 169 00:10:52,280 --> 00:10:55,480 Speaker 2: the United States the largest producer of liquid fuels, which 170 00:10:55,559 --> 00:10:58,880 Speaker 2: is oil and natural gas liquids, and has supplied roughly 171 00:10:58,960 --> 00:11:01,480 Speaker 2: eighty percent of the growth the demand for world globili 172 00:11:01,600 --> 00:11:04,680 Speaker 2: over the last five years. The result of a surge 173 00:11:04,679 --> 00:11:09,920 Speaker 2: and supply is inevitable a price drop, and this has 174 00:11:09,960 --> 00:11:12,200 Speaker 2: been no it section. Over the last three years, oil 175 00:11:12,240 --> 00:11:15,360 Speaker 2: prices have averaged about fifty dollars a barrel versus ninety 176 00:11:15,360 --> 00:11:18,400 Speaker 2: a barrel in the five years before that. Since the 177 00:11:18,480 --> 00:11:22,000 Speaker 2: US consumes over six billion barrels of oil a day, 178 00:11:22,520 --> 00:11:24,920 Speaker 2: that equates to a quarter of a trillion dollars of 179 00:11:24,960 --> 00:11:27,200 Speaker 2: savings to US consumers every year. 180 00:11:27,520 --> 00:11:29,680 Speaker 1: Worldwide, the result has. 181 00:11:29,600 --> 00:11:33,760 Speaker 2: Been a trillion dollar annual well transfer from oil producers 182 00:11:33,760 --> 00:11:39,120 Speaker 2: to oil consumers each year each of the last three years. 183 00:11:39,920 --> 00:11:40,800 Speaker 1: We'll be right back. 184 00:11:56,840 --> 00:11:59,760 Speaker 2: How can I celebrate the consumer savings when I'm an 185 00:11:59,760 --> 00:12:00,560 Speaker 2: oil producer. 186 00:12:00,880 --> 00:12:02,040 Speaker 1: Well, that's a good question. 187 00:12:02,800 --> 00:12:06,240 Speaker 2: In a market economy, the primary beneficiaries of innovation are 188 00:12:06,240 --> 00:12:10,080 Speaker 2: always consumers. I applaud the improved standard of living that 189 00:12:10,160 --> 00:12:13,640 Speaker 2: comes with cheaper energy, particularly for lower income folks. We 190 00:12:13,760 --> 00:12:16,760 Speaker 2: producers have to compete hard to share some small part 191 00:12:16,840 --> 00:12:20,440 Speaker 2: of the gains from technology. We are indeed fighting hard 192 00:12:20,480 --> 00:12:23,680 Speaker 2: these days. Likely the prices of oil and gas have 193 00:12:23,760 --> 00:12:27,679 Speaker 2: overshot on the downside during the downturn, but the new 194 00:12:27,720 --> 00:12:31,160 Speaker 2: equilibrium appears to have been arrived, with oil prices still 195 00:12:31,240 --> 00:12:33,559 Speaker 2: far lower than they were in the five years before 196 00:12:33,559 --> 00:12:37,319 Speaker 2: the energy shut down. The energy business has always been 197 00:12:37,440 --> 00:12:41,679 Speaker 2: cyclical and always will be. It is exciting and meaningful, 198 00:12:42,040 --> 00:12:44,440 Speaker 2: but we are forced to live with cyclical enough on 199 00:12:44,600 --> 00:12:48,959 Speaker 2: energy markets today. Fossil fuels are viewed by some as 200 00:12:49,000 --> 00:12:52,720 Speaker 2: the enemy of the environment, but is that true? The 201 00:12:52,800 --> 00:12:56,920 Speaker 2: United Kingdom is quite wet and lush. It is, after 202 00:12:56,960 --> 00:13:00,840 Speaker 2: all the land of ramihood sherwood forest. Yet over eighty 203 00:13:00,840 --> 00:13:03,200 Speaker 2: five percent of the land is barren of tree cover. 204 00:13:03,720 --> 00:13:07,560 Speaker 2: Why because coal arrived too late to save the United 205 00:13:07,600 --> 00:13:10,800 Speaker 2: Kingdom forest. But it did arrive in time to save 206 00:13:10,840 --> 00:13:13,640 Speaker 2: the forest of continental Europe, and together with oil and gas, 207 00:13:14,040 --> 00:13:19,160 Speaker 2: the forest of the United States it's interesting. I've been 208 00:13:19,200 --> 00:13:21,400 Speaker 2: all over the United Kingdom and there's not a lot 209 00:13:21,400 --> 00:13:25,560 Speaker 2: of forest, but it once was all forested because it's 210 00:13:25,600 --> 00:13:28,480 Speaker 2: really even though it's kind of northern, it's a tropical land. 211 00:13:29,280 --> 00:13:32,440 Speaker 2: And they cut it all down and it hadn't grown back. 212 00:13:32,520 --> 00:13:36,840 Speaker 2: That's really interesting. Fortunately, oil drilling, which began in Pennsylvania 213 00:13:36,840 --> 00:13:39,360 Speaker 2: in eighteen fifty nine, arrived just in time to save 214 00:13:39,440 --> 00:13:43,200 Speaker 2: the whale population which is being rapidly decimated. To supply 215 00:13:43,280 --> 00:13:46,520 Speaker 2: the cleaner burning whale oil that is displacing candles for 216 00:13:46,600 --> 00:13:50,559 Speaker 2: coal for indoor lighting, nearly a thousand whaling ships for 217 00:13:50,720 --> 00:13:53,200 Speaker 2: trawling all four oceans of the world because of the 218 00:13:53,200 --> 00:13:57,959 Speaker 2: impact this clean lighting fuel had, kerosene saved the remaining whales, 219 00:13:58,000 --> 00:14:00,720 Speaker 2: and the whale population has surged in the last one 220 00:14:00,800 --> 00:14:01,760 Speaker 2: hundred and fifty years. 221 00:14:04,000 --> 00:14:04,320 Speaker 1: That's it. 222 00:14:05,440 --> 00:14:08,520 Speaker 2: I want to add something to that. I'm in the 223 00:14:08,559 --> 00:14:16,360 Speaker 2: lumber business and I'm just going to say this inconvenient truth. 224 00:14:17,240 --> 00:14:20,360 Speaker 2: We have three times as many lightning strikes east of 225 00:14:20,360 --> 00:14:22,720 Speaker 2: the Missisippi rivers who do west of the Missisippi River. 226 00:14:23,400 --> 00:14:26,080 Speaker 2: But out west we have tons of forest fires, and 227 00:14:26,120 --> 00:14:27,480 Speaker 2: out east we have very few. 228 00:14:27,920 --> 00:14:29,520 Speaker 4: I actually want you to do a whole shop talk 229 00:14:29,560 --> 00:14:30,240 Speaker 4: on this topic. 230 00:14:30,800 --> 00:14:34,640 Speaker 2: Well, just brief all right, So how is it that 231 00:14:34,720 --> 00:14:37,160 Speaker 2: we have three times the lightning strikes? I mean, think 232 00:14:37,160 --> 00:14:39,400 Speaker 2: of it. It just rains more on the east raft 233 00:14:39,400 --> 00:14:41,480 Speaker 2: of the United States than does West raft. So along 234 00:14:41,520 --> 00:14:44,600 Speaker 2: with that comes more lightning. We have more forest land 235 00:14:45,960 --> 00:14:48,960 Speaker 2: and we have more lightning strikes, but we have about 236 00:14:48,960 --> 00:14:51,800 Speaker 2: a tenth of the forest fires. And the answer is 237 00:14:51,880 --> 00:15:00,440 Speaker 2: this because of really unwise environmental policy out west. We 238 00:15:00,600 --> 00:15:06,480 Speaker 2: stopped harvesting trees and managing the forest in a responsible way. 239 00:15:06,600 --> 00:15:11,080 Speaker 2: We just stopped it because cutting down trees became bad. Well, 240 00:15:11,680 --> 00:15:15,200 Speaker 2: when you don't when you don't cut down some trees 241 00:15:15,240 --> 00:15:18,080 Speaker 2: and you don't harvest, you don't professionally manage your forest. 242 00:15:18,240 --> 00:15:20,320 Speaker 2: You have what's called dead fall, which is a tree 243 00:15:20,600 --> 00:15:23,560 Speaker 2: just dies. Well when it dies that it sits there. 244 00:15:23,560 --> 00:15:27,520 Speaker 2: It creates tender. And when you don't have logging roads, 245 00:15:28,560 --> 00:15:31,800 Speaker 2: you don't have fire breaks. So when a fire catches 246 00:15:31,880 --> 00:15:34,080 Speaker 2: fire in one area, when it hits a logging road, 247 00:15:34,120 --> 00:15:37,760 Speaker 2: it runs out of tender. So out east, where we 248 00:15:37,840 --> 00:15:43,160 Speaker 2: log and we professionally manage forest, one we have fire breaks. Two, 249 00:15:43,480 --> 00:15:46,080 Speaker 2: the tender is kept off the ground. And three because 250 00:15:46,120 --> 00:15:50,320 Speaker 2: we professionally manage the forest. Contrary to popular belief, there 251 00:15:50,440 --> 00:15:55,480 Speaker 2: is sixty percent more harvestable timber in the east half 252 00:15:55,520 --> 00:15:56,880 Speaker 2: of the United States than there. 253 00:15:56,800 --> 00:15:57,920 Speaker 1: Was in nineteen seventy. 254 00:15:58,160 --> 00:16:02,480 Speaker 2: We've actually grown the forest and out west where there 255 00:16:02,480 --> 00:16:06,400 Speaker 2: has been no long no real professional forestry management and 256 00:16:06,440 --> 00:16:11,560 Speaker 2: no logging. One year of forest fires burns more harvestable 257 00:16:11,640 --> 00:16:16,760 Speaker 2: timber that could be consumed in forty years. So the 258 00:16:16,840 --> 00:16:21,120 Speaker 2: point that oil and gas and all of that is 259 00:16:21,200 --> 00:16:27,720 Speaker 2: the enemy of the environment. There's a lot of notions 260 00:16:27,760 --> 00:16:31,800 Speaker 2: that started with the seventies movement for conservation that I 261 00:16:31,920 --> 00:16:36,360 Speaker 2: do think we're well intentioned that morphed into some environmental 262 00:16:36,400 --> 00:16:40,680 Speaker 2: causes that are in fact harmful to our environment and 263 00:16:40,760 --> 00:16:44,360 Speaker 2: make no sense. And I think this does a really 264 00:16:44,360 --> 00:16:51,080 Speaker 2: good job of pointing out that energy, consumption, freedom, growth, lifespan, 265 00:16:51,880 --> 00:16:54,960 Speaker 2: all of it is really really intertwined, and we need 266 00:16:55,000 --> 00:17:01,600 Speaker 2: to have a really thoughtful approach to how we literally 267 00:17:02,240 --> 00:17:06,439 Speaker 2: power our world and the health and freedoms and liberties 268 00:17:06,480 --> 00:17:09,160 Speaker 2: and opportunities that energy provids. 269 00:17:09,359 --> 00:17:11,840 Speaker 1: What a great what a great speech. This guy. 270 00:17:11,720 --> 00:17:13,920 Speaker 3: May you met this guy, Yeah, I've interviewed him a 271 00:17:13,920 --> 00:17:17,400 Speaker 3: couple of times. And what's he like he's amazing. One day, 272 00:17:17,400 --> 00:17:18,400 Speaker 3: hopefully you can meet him too. 273 00:17:18,480 --> 00:17:20,080 Speaker 2: Yeah, I want, I want to meet him. Why can't 274 00:17:20,080 --> 00:17:22,560 Speaker 2: we interview him? Does he do anything for the communities 275 00:17:22,600 --> 00:17:23,040 Speaker 2: and stuff? 276 00:17:23,760 --> 00:17:28,280 Speaker 3: So he's actually the current energy secretary Oh yeah, ery 277 00:17:28,359 --> 00:17:30,840 Speaker 3: for the United States right now. But I mean, and 278 00:17:30,840 --> 00:17:33,119 Speaker 3: he left his you know, big job to do it. 279 00:17:33,160 --> 00:17:34,920 Speaker 3: So it's really a sacrifice on his part to leave 280 00:17:34,960 --> 00:17:38,280 Speaker 3: his company. But you know, regardless of whatever people think 281 00:17:38,280 --> 00:17:40,800 Speaker 3: about which administrations, that's irrelevant to his speech. He gave 282 00:17:40,840 --> 00:17:42,639 Speaker 3: this speech a decade ago, so it has nothing to 283 00:17:42,680 --> 00:17:44,520 Speaker 3: do with any of that whatsoever. 284 00:17:44,920 --> 00:17:52,280 Speaker 2: That's interesting, all right, So let's recap progress progress? 285 00:17:52,320 --> 00:17:55,920 Speaker 1: What is it? What progress? What's the title? Yeah, I 286 00:17:55,920 --> 00:17:58,240 Speaker 1: don't know. I just set it over here and I 287 00:17:58,240 --> 00:17:58,879 Speaker 1: got to look it up. 288 00:17:58,960 --> 00:18:00,720 Speaker 4: Because progress for them and energy? 289 00:18:00,840 --> 00:18:03,479 Speaker 2: Yeah, progress, freedom and energy. It's pretty interesting. 290 00:18:03,520 --> 00:18:05,919 Speaker 3: But freedom and energy being the enablers of this massive 291 00:18:06,000 --> 00:18:08,359 Speaker 3: human progress over time, and one thing just based off 292 00:18:08,400 --> 00:18:10,320 Speaker 3: of your riff and then kind of what he covers 293 00:18:10,320 --> 00:18:12,159 Speaker 3: too is a lot of this is the law of 294 00:18:12,200 --> 00:18:14,800 Speaker 3: un attendant consequences. Like you think you can be doing 295 00:18:14,880 --> 00:18:18,679 Speaker 3: something good, but there's always consequences any action, right, And 296 00:18:18,760 --> 00:18:20,480 Speaker 3: we need to think through that. And that's the problem 297 00:18:20,520 --> 00:18:23,360 Speaker 3: of a managed economy where you know, top down try 298 00:18:23,400 --> 00:18:26,400 Speaker 3: to control, is you can't possibly imagine all the consequences 299 00:18:26,440 --> 00:18:27,160 Speaker 3: that are going to happen. 300 00:18:27,200 --> 00:18:29,440 Speaker 4: And so this kind of Chris makes the point too. 301 00:18:29,480 --> 00:18:31,959 Speaker 3: If you unleash human freedom and you have these bottom 302 00:18:32,000 --> 00:18:35,240 Speaker 3: up solutions and bottom up businesses, you can experiment with 303 00:18:35,240 --> 00:18:36,960 Speaker 3: a whole bunch of ideas and see what works and 304 00:18:37,000 --> 00:18:39,680 Speaker 3: what doesn't, and ultimately that's what leads to human progress. 305 00:18:40,200 --> 00:18:41,280 Speaker 1: That's really good point. 306 00:18:41,359 --> 00:18:43,720 Speaker 2: I mean, it'd be interesting if people all stood together 307 00:18:43,840 --> 00:18:45,440 Speaker 2: with bottom up solutions. 308 00:18:45,800 --> 00:18:47,240 Speaker 1: Yeah. 309 00:18:47,800 --> 00:18:49,760 Speaker 3: I mean, I think ninety percent of us, no matter 310 00:18:49,760 --> 00:18:51,840 Speaker 3: your political party, believe we could do a better job 311 00:18:51,880 --> 00:18:52,600 Speaker 3: than these people. 312 00:18:52,960 --> 00:18:56,159 Speaker 1: I think so too. I think so all right, So 313 00:18:56,320 --> 00:18:57,960 Speaker 1: that's it shot top number eighty. 314 00:18:59,400 --> 00:19:03,919 Speaker 2: Good all think about think about what you've heard, and 315 00:19:05,200 --> 00:19:10,520 Speaker 2: think about energy and freedom and growth and health. 316 00:19:11,480 --> 00:19:13,520 Speaker 3: And gratitude for a living at this time and era. 317 00:19:13,680 --> 00:19:16,679 Speaker 3: Like the lated point is like John D. Rockefeller, you know, 318 00:19:16,720 --> 00:19:19,760 Speaker 3: supposed the richest man in you know, human history. I 319 00:19:19,840 --> 00:19:22,600 Speaker 3: relooked this up, but back in his era he made 320 00:19:22,840 --> 00:19:24,920 Speaker 3: not if you even had access to air conditioning, I think. 321 00:19:25,520 --> 00:19:29,200 Speaker 3: And then like the infant mortality rate was fourteen times 322 00:19:29,280 --> 00:19:32,439 Speaker 3: higher than today, so something like eight percent of kids 323 00:19:32,520 --> 00:19:34,880 Speaker 3: and his era would die, you know, and now it's 324 00:19:34,920 --> 00:19:37,280 Speaker 3: like so infinitely low, and so I mean, we are 325 00:19:37,320 --> 00:19:39,160 Speaker 3: just incredibly blessed to live in this time. 326 00:19:39,320 --> 00:19:41,320 Speaker 1: Well, I think about this. I'm wearing glasses. 327 00:19:41,560 --> 00:19:44,159 Speaker 2: I actually I swear to you this is not just 328 00:19:44,200 --> 00:19:47,760 Speaker 2: an off the cup rifka about a week ago. I'm 329 00:19:47,800 --> 00:19:53,560 Speaker 2: fifty seven. I'm wearing glasses that are I can read 330 00:19:53,760 --> 00:19:56,080 Speaker 2: on the bottom of whether they bought vocals or whatever. 331 00:19:56,760 --> 00:19:57,680 Speaker 4: Thankfully I don't do with that. 332 00:19:57,920 --> 00:20:01,080 Speaker 1: Whatever. I'm wearing glasses in a hearing aid. 333 00:20:02,000 --> 00:20:05,359 Speaker 2: I have sciatica and I get a nerve block every 334 00:20:05,880 --> 00:20:08,680 Speaker 2: probably seven or eight nine months, So that can even 335 00:20:08,720 --> 00:20:09,680 Speaker 2: bend over a wall. 336 00:20:09,800 --> 00:20:11,679 Speaker 4: When you put it that way, you're even more broken 337 00:20:11,800 --> 00:20:12,480 Speaker 4: than I think about it. 338 00:20:13,320 --> 00:20:15,720 Speaker 2: I'm listen, man, I beat my body up, my whole life. 339 00:20:15,800 --> 00:20:19,879 Speaker 2: But the whole point is two hundred years ago I 340 00:20:19,880 --> 00:20:21,520 Speaker 2: would be death blond and couldn't walk. 341 00:20:21,880 --> 00:20:24,359 Speaker 1: Yeah, I'd have been dead ten years ago. There's no 342 00:20:24,400 --> 00:20:26,359 Speaker 1: waiting surviv like that. Actually, that reminds me. 343 00:20:26,480 --> 00:20:29,960 Speaker 2: And we take so for granted a hearing aid and 344 00:20:30,080 --> 00:20:33,280 Speaker 2: glasses and run into a guy to get a shot 345 00:20:33,320 --> 00:20:35,439 Speaker 2: in your back so you can feel it. It's like 346 00:20:35,800 --> 00:20:38,760 Speaker 2: commonplace to us, but two hundred years ago I would 347 00:20:38,800 --> 00:20:43,879 Speaker 2: be dead because there's no way a bed ridden, deaf, 348 00:20:44,000 --> 00:20:45,760 Speaker 2: blind guy could function. 349 00:20:46,320 --> 00:20:49,439 Speaker 3: Do you know the eye pencil story, the eye pencil story. Uh, 350 00:20:49,600 --> 00:20:51,480 Speaker 3: all right, that's gonna be a future shot talk. It's 351 00:20:51,520 --> 00:20:54,280 Speaker 3: on that topic. Oh okay, Well, then we just tease 352 00:20:54,359 --> 00:20:58,920 Speaker 3: to imagine how many individuals are involved with creating a pencil. 353 00:20:59,160 --> 00:21:02,359 Speaker 3: Something so cheap is one singular pencil. I'm human beings 354 00:21:02,400 --> 00:21:03,480 Speaker 3: touch that process. 355 00:21:03,920 --> 00:21:07,440 Speaker 2: Well, you got lead, you've got rubber wood, you've got metal, 356 00:21:07,680 --> 00:21:11,679 Speaker 2: you've got ink, and you've got wood, and you've. 357 00:21:11,560 --> 00:21:14,960 Speaker 3: Got transportation, and you've got energy, and like, all right. 358 00:21:14,960 --> 00:21:16,520 Speaker 1: We're going to do a shop talk on that. We're 359 00:21:16,560 --> 00:21:17,080 Speaker 1: also going to. 360 00:21:17,080 --> 00:21:21,240 Speaker 2: Do a shop talk on responsible forestry because we should 361 00:21:21,240 --> 00:21:22,439 Speaker 2: have done one already on that. 362 00:21:22,520 --> 00:21:23,240 Speaker 1: Yeah, we're going to do. 363 00:21:23,160 --> 00:21:25,800 Speaker 2: A shop talk on responsible for Street and a shop 364 00:21:25,840 --> 00:21:28,440 Speaker 2: talk on Alex's pencil. 365 00:21:28,880 --> 00:21:32,920 Speaker 1: Okay, that's shop talk number eighty. Your body. I hope 366 00:21:32,920 --> 00:21:33,480 Speaker 1: you enjoyed it. 367 00:21:33,520 --> 00:21:35,159 Speaker 2: I hope it's food for thought, and I hope you 368 00:21:35,280 --> 00:21:38,120 Speaker 2: really will consider all of what was said there. 369 00:21:38,560 --> 00:21:40,399 Speaker 1: If you enjoyed this rate it, review it. 370 00:21:41,000 --> 00:21:44,120 Speaker 2: If you have ideas for shop Talk or an army 371 00:21:44,160 --> 00:21:47,840 Speaker 2: normal folks, please email me at Bill at normal folks 372 00:21:47,880 --> 00:21:51,480 Speaker 2: dot us. Rate us, review us, tell your friends about us, 373 00:21:51,680 --> 00:21:53,960 Speaker 2: wake the kids, phone the neighbors. Help us out grow 374 00:21:54,000 --> 00:21:57,560 Speaker 2: this thing at shop Talk number eighty. Anything else, Alex. 375 00:21:57,840 --> 00:22:00,760 Speaker 3: Yes, we mentioned this in our primary episodes. We're launching 376 00:22:00,880 --> 00:22:06,920 Speaker 3: six local chapters coming up in January February Milwaukee, Atlanta, Oxford, Wichita, Clinton, 377 00:22:06,960 --> 00:22:11,440 Speaker 3: New York. I hope I'm not missing one. Memphis, Memphis. Yes, 378 00:22:11,560 --> 00:22:13,879 Speaker 3: that's the most exciting new one. And so if you 379 00:22:13,960 --> 00:22:15,439 Speaker 3: live in these areas and you're interested in. 380 00:22:15,440 --> 00:22:17,400 Speaker 4: Being involved, I would love for you to be involved. 381 00:22:17,480 --> 00:22:19,560 Speaker 3: Email me at army at normal folks dot us and 382 00:22:19,600 --> 00:22:20,479 Speaker 3: we'll get you plugged in. 383 00:22:21,320 --> 00:22:21,600 Speaker 1: Yeah. 384 00:22:22,040 --> 00:22:26,280 Speaker 2: That's actually helped convert all of this work into action. 385 00:22:26,440 --> 00:22:29,040 Speaker 1: Guys. That's chop Talk number eight. I'll see it next week.