we watch these as they go through the ferc process. that will probably be including in the february time frame. and so depending on ferc finishing that process, that would allow us to move forward with our final determination. >> thank you. as we all know the essence of what the actual reserves are is sort of a moving target. it started slower and it seems to be expanding greatly. i like the way is to isenberg framed it that everybody is winning. but i'm curious to know from you, mr. eisenberg and mr. durbin, as these estimates of the vast resource change how do your projections on the economic impact that will have been job creation and manufacturing resurgence, how does that change, in your estimates, and how closely are you monitoring that as we look at what the vast reserves actually provide? >> our policy and frankly, the will of the manufactures that is before is not a stable, secure, and consistent supply of natural gas. because we use it not only for electricity but also to feedstock for the many things we do. that's a lot of w

other federal agencies like ferc when they were looking at this set plant closures would be much higher than the epa estimates were going to be. seems to me when epa got this information you all kind of scoffed at it but in retrospect now that we can look back and see the administration's data concedes it will shutter 10 times more the amount of electricity generation than you originally anticipated. how do you respond to something like that when other agencies within the obama administration were saying what you are proposing would be devastating to electricity? and even more than what you are anticipating. you were 10 times off on your estimates. >> sir i am not necessarily agreeing that the mercker and air toxins standard was the precipitate or for all of the closures we are seeing. >> but ferc made that warning. are you disputing with her? >> there were concerns with reliability of cost which is why we work to address those issues together and frankly none of those concerns are proven to be a reality. >> so you're disputing they have the shuddering as of electricity generation 10 ti

communities that they need to have available to them and we are trying to work together knowing what ferc's -- what folks are concerned about so we can understand the changes and the prediction is they may be -- there may be longer and more severe drought seasons moving forward but what we already see is enough to bring us to the table and make us realize we need to address the issue of climate adaptation or resiliency more effective together. and we continue to put out tools that the agency has developed to allow people to plan together and hopefully will be providing technical assistance across the administration to continue that effort moving forward. governor mead, you mentioned water infrastructure. that is a challenge for all of us. we see this all across the united states, not just in terms of our aging infrastructure, which is a huge venture to try to catch up with infrastructure that is old, but how do we recognize we are getting more in tens storms and we need to do that together and it's a challenge not just for us but for sectors across the u.s. including our agriculture sector.

. >> well for those that aren't that are listening southwest power pool is mandated by ferc to ensure reliable supplies of power, adequate transmission infrastructure and competitive wholesale prices of electricity. and they are the folks, when you flip the switch, the electricity comes on. if they don't do a good job and provide reliable power they pay fines or are held responsible to the federal government. i think you would also agree they are nonpartisan. just an agency doing their best to make things work. they reviewed your mandates and produced a reliability impact assessment. have you reviewed that? >> not that one, specifically, senator. but i'm aware they have done that. >> i think you should. it is important. they found that significant new generating capacity not planned will be needed to replace the retirements that epa is predicting about 9,000 megawatts in our region alone by 2020, significant new transmission infrastructure will be needed, currently it takes up to 8.5 years to study plan and conduct -- i'm sorry -- construct transmission and costs up to $2.3 million pe

i am pleased to see that once again the president agrees with me on the need for ferc reform is illustrated in his budget. so since we all agree that this is a bad policy and treasury clearly has the authority to reverse this ruling, i hope that you would look at taking some sort of action on this. so my question is, one doesn't make any sense to great obstacles for foreign investment in the u.s., particularly considering our dire need for infrastructure investments? and will you commit to working with me and there's a bipartisan group of members of this committee and beyond who support this effort? >> senator, we've discussed this before and as you acknowledge we agree that this should be fixed. we believe it needs to be fixed through legislation to i hope in the discussion were having about these tax reform it provides an opportunity for us to do this in a bipartisan way. we've put forward a legislative proposal again and i would look forward to working with you on it spent so you're not going to do with it administratively obviously. so the question is, but you do support the administrat

i am pleased to see that once again the president agrees with me on the need for ferc to reform as illustratedudget. since we all agree this is a bad policy and treasury clearly has the authority to reverse this ruling, i hope they do is look at taking some sort of action. so my question is it doesn't make sense for considering our dire need an infrastructure investments. there's a bipartisan group of members of this committee and beyond who support this effort. >> senator, we discussed this before and as you acknowledge we agree this should be fixed. i actually hope for the discussions we have about business tax reform, it provides an opportunity for us to do this in a bipartisan way and was obviously put forward a legislative proposal again and i would look forward to working with you on it. >> so you are not going to deal with it administratively obviously. what you do support the administration? me ask you in the same light one of the main teams in the president's budget is the need for extensive investments in roads, bridges and other critical infrastructure. one of the most effective way