president—elect trump plans for government, his choice of fracking boss body energy secretary has been met with dismay by climate campaigners. chris wright is the founder and boss of liberty energy based in denver, he said last year that there is no climate crisis. he says, we are not in the middle of an energy transition. he is expected to support trump because my plan to maximise production of oil and gas to boost energy security and cut energy costs. some dump in that campaign slogan, drill, baby drill. chris wright had a rough ride of his climate views when he faced the house financial services committee earlier this year. you said to be had these new intensity of hurricanes.- intensity of hurricanes. same video you _ intensity of hurricanes. same video you said _ intensity of hurricanes. same video you said there - intensity of hurricanes. same video you said there is -

intensity of hurricanes. same video you said there is no - video you said there is no climate crisis, we are not in the mist of an energy transition humans and complex life are impossible without carbon dioxide, the idea of carbon dioxide, the idea of carbon pollution is outrageous. you agree you said that? absolutely. 0k. you agree you said that? absolutely. ok. i you agree you said that? absolutely. 0k. lam reclaiming absolutely. 0k. iam reclaiming my time. the fact that you said that, i could go through countless reports that make it very clear to the contrary, i could go through countless reports from our own financial regulators that their race, because talk about the number of places in the world where temperature exceeds that beyond the ability for humans to live, in india, bangladesh, maybe not in india, bangladesh, maybe not in your air—conditioned office. but this stuff is real. i am not going to get into an argument with you because you don't matter. well — as us energy secretary he definitely will matter. some in the energy industry though believe gas has a role to play in the decarbonisation

process, as energy lobbyist ben west told us earlier. i think if we look at the us, it's a nation which has reduced its emissions more than any other nation over the past decade. the way that it's achieved this is by displacing coal—fired power generation with gas—fired power generation, with gas having less than half the carbon intensity of coal—fired power. and therefore, i think we have to look at it in terms of energy demand across the us, across the world is forecast to grow significantly moving forward. it's the us, power demand in the us alone is forecast to grow by another 15 to 20% over the next five years, as a result of data centres and energy demand brought about by ai. and therefore, in a world that has an ever increasing energy demand, it's important that we have consistent regular energy supply. and therefore, i think what the administration and mr wright, as the secretary of energy, will prioritise will be how we bring all forms of energy to market, rather than polarising sort of one narrative versus the other and prioritising one form of energy over another. and therefore, i think the impact that the administration can have by bringing low carbon natural gas to market, to displace higher sort of carbon intensity

fuels or energy sources, can actually have a big impact on the environmental agenda as well. there is also increasing speculation over who will be picked up one of the top roles in globalfinance, thejob of us treasury secretary. reports today suggest the field of candidates may be getting bigger because jostling between the two main contenders has annoyed trump's scheme —— team. scott beasa nt annoyed trump's scheme —— team. scott beasant and howard lackner, billionaire boss of the financial and cantor fitzgerald, are seen as the frontrunners. the main contention would be who is most willing to enact trump's tough tariff proposals. over the weekend elon musk, who sat with donald trump at a ufc fight, took to social media in support of mr luke nick saying beasant is a business as usual choice was howard like nick will

actually enact change. as yet no news on who has been chosen, we will bring you any details as soon as we can. let's return to climate change because spain's finance minister has been talking to the bbc about the impact of extreme weather on his country. recovery efforts are continuing in valencia and surrounding areas after catastrophic flash floods left a trail of devastation and more than 200 people dead. carlos cuerpo — spain's ministerfor economy, trade and business — told our economics editor faisal islam that the events underline the case for investment in green energy. actually, what we're seeing today is an increase in frequency in these events and also an increase in the impact. so that's actually when you look also at the, at the different determinants of the floods, usually in valencia, these dangers, they happen on a recurrent basis. but now, as i said, the time range is getting shorter and shorter. and also usually they happen early in the year. but now the temperature of the mediterranean is higher.

so it's undoubtedly, there is a connection between climate change and what's going on, not only in spain but throughout the world. so, on its own, it already merits all the investments that we will put in fighting climate change. but again, for spain it's proven to be compatible with stronger growth and more competitiveness. so it's really a no—brainer. let's turn to china now and tech giant xiaomi corporation. it says revenues jumped by a third in the three months to september. the firm is the world's third largest smartphone maker after apple and samsung, but it has moved into electric cars and says it aims to deliver 130,000 vehicles this year. it's the third time xiaomi has raised its car sales forecasts. so are we looking at a new player in the fiercely competitive ev market — or is itjust too crowded?

let's talk to will roberts who is automotive lead. good to have you with us. talk to me about this car, event italy new entrant into the market, just put out instant first model. it has gone down very well. certainly has, you are right to say it has a crowded market in china, xiaomi being as successful as they have in just a short period of time is quite a short period of time is quite a big statement. having the brand behind them of being a popular consumer electronics maker has helped them initially. i maker has helped them initially-— maker has helped them initiall . . ., initially. i am looking at the rice initially. i am looking at the price tag. — initially. i am looking at the price tag, undercutting - initially. i am looking at the l price tag, undercutting tesla, in the chinese model does far, coming in with a cheaper product but one that technically rivals some of the big players in the industry. that could be enough to drive demand. . ' :: :: , that could be enough to drive demand. . ':: :: ' ~ that could be enough to drive demand. . ':: :: , ~ ., demand. yeah, 10096. we have seen an aggressive _ demand. yeah, 10096. we have seen an aggressive price - demand. yeah, 10096. we have seen an aggressive price more | seen an aggressive price more in china in the last year or so

and now essentially battery electric vehicles are cheaper than other cars, so it is not uncommon. tesla performs well in china, let's not take that away, but you need to have a bit of a differentiator in the chinese market. having good tech magazine car experience has been a good differentiator, and that is another point that xiaomi is strong on. it and that is another point that xiaomi is strong on.- xiaomi is strong on. it has some big _ xiaomi is strong on. it has some big ambitions - xiaomi is strong on. it has some big ambitions as - xiaomi is strong on. it has i some big ambitions as well, looking at one forecast that says they will deliver 400,000 electric vehicles by 2025, therefore accounting for about a fifth of their revenue, a big jump a fifth of their revenue, a big jump from what is just under and he identified three key favourable trends. the fir big a fifth of their revenue, a big jump a fifth of their revenue, a big jump from what is just under 10% now. 10% now. jump from what is 'ust under jump from what is 'ust under 10% newt jump from what is 'ust under 10% mi 10% newt jump from what is 'ust under 10% mi jump from what is 'ust under 1096 now. . . ~ , ., , jump from what is 'ust under 1096 now. . w , ., jump from what is 'ust under 1096 now. . . ~ , ., , jump from what is 'ust under 1096 now. . w , ., 1096 now. yeah, taking this as a new portion _ 1096 now. yeah, taking this as a new portion of _ 1096 now. yeah, taking this as a 1096 now. yeah, taking this as a new portion _ 1096 now. yeah, taking this as a new portion of _ 1096 now. yeah, taking this as a new portion of their _ 1096 now. yeah, taking this as a new portion of their revenue - 1096 now. yeah, taking this as a new portion of their revenue is| new portion of their revenue is a whole new growth sector they new portion of their _ 1096 now. yeah, taking this as a new portion of their revenue - 1096 now. yeah, taking this as a new portion of their revenue is| new portion of their revenue is a whole new growth sector they can start to expand into. it is can start to expand into. it is a strong growth sector, given a strong growth sector, given how strongly the evie market is how strongly the evie market is in china. pretty consistently in china. pretty consistently over 50% now of sales and that over 50% now of sales and that is a pie that xiaomi want a is a pie that xiaomi want a piece of. piece of.

is a pie that xiaomi want a piece of-— is a pie that xiaomi want a piece of-— piece of. good to talk to, well, piece of. good to talk to, well, piece of. good to talk to, well. we _ piece of. good to talk to, well, we will _ piece of. good to talk to, well, we will talk - piece of. good to talk to, well. we _ piece of. good to talk to, well, we will _ piece of. good to talk to, well, we will talk - piece of. good to talk to, well, we will talk again . piece of. good to talk to, - well, we will talk again about this as we can deny on what piece of. good to talk to, well, we will talk again . piece of. good to talk to, - well, we will talk again about this as we can deny on what that firm does. thank you. —— that firm does. thank you. —— keep an eye. keep an eye. let's turn to the travel let's turn to the travel industry because the boss industry because the boss of one of the world's top of one of the world's top online online travel firms has been talking about his hopes travel firms has been talking about his hopes for generative ai for generative ai and how it might and how it might transform his business. transform his business. he's been speaking to our north he's been speaking to our north america business correspondent america business correspondent ritika gupta. ritika gupta. you sat down with him for this you sat down with him for this conversation, really interesting, particularly about conversation, really interesting, particularly about the future of the travel the future of the travel industry and how it will be industry and how it will be shaped by ai.— shaped by ai.— industry and how it will be shaped by ai. yes, it was an interesting _ shaped by ai. yes, it was an interesting conversation. - shaped by ai. yes, it was an i industry and how it will be shaped by ai. yes, it was an interesting _ shaped by ai. yes, it was an interesting conversation. - shaped by ai. yes, it was an i interesting conversation. first interesting conversation. first of all, when we think about the of all, when we think about the outlook for the us economy, the outlook for the us economy, the health of the consumer that has health of the consumer that has been grappling with inflation, been grappling with inflation, we turned to ai which we will we turned to ai which we will get to in a moment but we get to in a moment but we started off talk about his started off talk about his outlook for the travel industry outlook for the travel industry and he is upbeat overall. the and he is upbeat overall. the latest earnings, they beat latest earnings, they beat estimates, they raise they are estimates, they raise they are guidance for forging guidance for forging estimates, they raise they are guidance forforging bookings estimates, they raise they are guidance forforging bookings

guidance for forging bookings and guidance forforging bookings guidance for forging bookings and guidance forforging bookings and he identified three key favourable trends. the first and he identified three key favourable trends. the first is that gdp is growing, typically travel demand tends to grow faster than gdp, that this move to digital commerce is helping, as well as that focus on generative ai that he says will transform the travel industry. take a listen. travel has usually increased faster than gdp for decades. so that's a good measurement to start with. so we said, well, how's the gdp for the world going to be? well it's going to go a little bit where it's been going in the past. good. then we say, ok, are we going to get a bigger share of the travel industry? and we say, yeah, we think we are. we have some tailwinds that favour us and others like us because of the change from offline to online, from the way you used to buy travel to now in a digital commerce way, we have an advantage there. so that's good for us. then you think about, well, are we going to do things that are better than the other people who are digitally communicating with buyers? and we think we will.

why? things like ai, generative ai in particular, enables us to come up with a better service, a better product for the consumer. what is your outlook for the us consumer? look, i'm pleased that inflation has come down to what had been a very high rate not that long ago in the us and in europe. but the truth is, when there's strong inflation, that increases the price of the cost of travel, certainly. but also people are getting paid more, too. so when you look at it, it's not inflation. it's notjust, how much do things cost?

that is all from us for the moment, see you soon, goodbye.

welcome back. let's get more on our main story is president biden gives ukraine the go—ahead to use american long—range missiles to strike deep inside russian territory. the kremlin has reacted by saying that if ukraine does use the missiles it will be seen as an attack from the us itself. our bbc correspondent nick eardley has been looking at how this decision might affect the course of the war. this is being seen as a significant moment in the war. potentially an important boost for ukraine's forces. but it's worth explaining what ukraine is capable of at the moment, because ukraine is already

launching attacks in russian territory with drones. this verified footage from september in toropets in the west of russia, about 370 miles from the border with ukraine, you can see here, drones do cause significant damage and they can reach quite far into russian territory. but these weapons we're talking about today, atacms are different. this is what they look like a missile with a conventional warhead. they use advanced guidance systems, making them more accurate and harder to stop. they are also more likely to be successful in causing significant damage than drones are. they're fired from missile launchers like this one, and they have a range of more than 180 miles. ukraine has had these missiles for a while, by the way. the us provided them last year, but only for use so far in ukrainian territory occupied by russia. the development today is that ukraine will now be allowed to fire these weapons deep into russian territory. this map is from the institute for the study of war, and it gives a sense of some of the targets that might now be in range of the atacms — several military

bases which we've marked around here,