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nominees in their own words continues now with chris right, a trained mechanical and electrical engineer currently serving ceo of liberty energy, a fracking company he founded in 2011. in 2022, he spoke about his work in the oil sector at a conference hosted by the common sense society. >> trigger warning, i am a lifelong nerd so i speak in numbers a lot because i think they matter. broad sweep of human history, one thing that did not vary much was life expectancy at birth. it's been about 30 years, as good as we can construct, throughout human history, before the invention of agriculture, it rose a little bit, there were episodic outbreaks of peace or success in agricultural

productivity. then things changed a lot in the last couple centuries. human life expectancy went from 30 years to 72 years today. throughout human history, 90% of humanity lived on less than two dollar day in today's dollars. people were smaller. most everyone was in some degree of starvation. there was a doubling of human life expectancy. 9% today live in dire poverty, still vastly too much. what drove that? the two biggest enablers of this change was the growth of bottom-up social organization. liberty leads humans to create prosperity and fertile soil for beauty of all kinds but that did not hit the economic sector until the middle of the 1800s. the registration act in the

u.k., corporation laws in the u.s. the shift from mercantilism to bottom-up economic organization. the other factor was hydrocarbons. this massive increase in available energy. these things transformed human society to be an unrecognizable state today. now we have esg movement, i run a corporate company, in big picture is attempting to reverse both of those. top-down values, explicit war against hydrocarbons based on a mainstream climate narrative that goes something like this. there is an ever-growing climate crisis sweeping the world, wreaking destruction in its wake, particularly harming low income people around the world, therefore all the countries must unite in a battle to drive the

fastest possible energy transition to cleaner green or cheaper fuels, denying retro grades get in the way and we will be there soon. this is the narrative. one problem. it is not true. let me hit if you, the energy transition. the kyoto protocols were 30 years ago, 1992, launching the energy transition movement. we went from 87% global energy from hydrocarbons in 1992 and plummeted to 83% today. 30 years, trillions of dollars of subsidies, countless government mandates. we moved it four percentage points, all of that in the low hanging fruit. the electricity sector, in wealthy nations. even that small movement drove up the price of electricity in direct proportion to the amount

of adopting low energy density, intermittent unreliable energy sources, driven down the reliability of electricity grids. there is 10 times as many blackouts today as there was 20 years ago in the u.s. this transition has not gone well. it's not for lack of effort. energy is hard. i went to m.i.t. when i was young to work on fusion. i worked on solar energy in graduate school. geothermal energy for years after that. i am again today. i don't care where energy comes from. it has to be affordable, reliable and help lift humans out of poverty and better their lives. that is what should matter. it's hard. it's not going well. what about climate change? maybe that's the price we have to pay. the biggest narrative today is this extreme weather. 20% of kids report having nightmares about climate change.

20%. last year was the lowest recorded hurricanes around the globe ever since we have had satellite data. 42 years of data. on climate change reports, there's no meaningful trend in hurricanes, tornadoes, floods, droughts. tornadoes are going down. droughts are going down. a slightly warmer world is a slightly wider world. you never hear this. politicians, the media, our schools, corporate esg movement, this is a crisis. ipcc does economic analysis. william nord house at yale, professor, nobel prize on economics, you probably never hear the summary of his work either. 50% increase in atmospheric co2. at the current rate of warming, we will warm another degree c

toward the end of the century. a wide range of economic analysis we should critique. who knows what the world will be like in 80 years? the range of projections, impacts from this continued warming range between 0.2% and 2% reduction in per capita income three generations from now. we will lose a few months, a year of economic growth in the next 80 years. is that a crisis today? is that justification for crazy government policy changes? the trade-off, the true energy crisis today, stuff you don't hear about much, a third of humanity, 2.5 billion people cook their daily meals burning wood, dung and agricultural waste inside their homes and huts. i've traveled to many of these

places around the world. world health organization estimates this kills 3 million people every year. that is the death rate of covid the last two years for which we shut down the world. these are low income poor people. they are not politically popular. no one talks about them or knows of them. this is a crisis. 7 million more preventable deaths from malnutrition and lack of access to clean water. women in traditional societies expect about one hour per day gathering fuel wood and another hour gathering water. both of these problems transform immediately with a simple propane cookstove and petroleum gas canister. incredibly easy problems to address. my company is partnering in africa to help spread this access. 2.5 billion don't have that. weigh that against a 1%

reduction in global income three generations from now, would buy the same economic models, everyone is three times richer than they are today. climate change is real. there is data behind it. calling it a crisis, a justification to make energy more expensive and less reliable is dishonest. look what's happening in europe today. crazy. wealthy sweden has subsidies to help people pay heating bills. the two fertilizer factories in the u.k. were shut down because of electricity prices. the government had to intervene rapidly to put one back on, without that you cannot carbonate beer. [laughter] this was the start of a real crisis. written briefly d carbonized their beer. -- britain briefly de-carbonized their beer.

california has the highest adjusted poverty rate in america today. 10% of americans received a disconnection notice on utilities in the past year and a larger percent were keeping their homes at unsafe temperatures. tens of thousands in this country die every winter, low income elderly people, not keeping their homes at safe temperatures. climate change should be based on data and fact and traded off against other things but it is not. it is a political driving force that justifies control. it's not about reducing greenhouse gas emissions or bettering lives. my response was to write a different corporate esg report where we lay out this in more detail called bettering human lives. that's what companies and humans should be focused on. [applause] ♪

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