Speaker 1: Good morning.
Speaker 2: I'm Nathan Hager and I'm Karen Moscow. Here are the
Speaker 2: stories we're following today.
Speaker 1: We bring you the latest developments out of the Middle East.
Speaker 1: A US Navy ship has responded to a flurry of
Speaker 1: drone and missile strikes against commercial ships in the Red Sea.
Speaker 1: At the same time, Israel's military is expanding its operations
Speaker 1: now across.
Speaker 3: The Gaza Strip.
Speaker 1: We get the latest from Bloomberg News Israel Bureau chief
Speaker 1: Ethan Brauner in Tel Aviv.
Speaker 4: We're expecting a ground operation this week. I imagine in
Speaker 4: han yunis As, the main city in the south there,
Speaker 4: that they believe this is after all, where yaj Sinoar,
Speaker 4: the head of Hamas, where he's from, and they think
Speaker 4: that both he and Muhammad, they've the military chief of Hamas,
Speaker 4: are underground in tunnels there. So they have started asking
Speaker 4: people who have either or living there or who've moved
Speaker 4: there from the north to move yet again, causing a
Speaker 4: lot of displacement and concern and fear. And I think
Speaker 4: it is going to be a difficult week.
Speaker 1: Bloomberg's Ethan Broner says Israel has struck about two hundred targets,
Speaker 1: including weapons storage facilities and a school in northern Gaza,
Speaker 1: where it says Hamas was operating.
Speaker 2: Meanwhile, Nathan Defense Secretary Lloyd Austin is sending a warning
Speaker 2: to Israel about using too much for sun civilian populations
Speaker 2: in Gaza. We get that part of the story from
Speaker 2: Bloomberg's Ed Baxter.
Speaker 5: The caution comes as Israeli soldiers move with great force
Speaker 5: to the south. Secretary Austin is urging extreme caution.
Speaker 6: If you drive them into the arms of the enemy,
Speaker 6: you replace a technical victory with a strategic defeat. So
Speaker 6: I have repeatedly made clear to Israel's leaders that protecting
Speaker 6: Palestin and civilians in Gaza is both a moral responsibility
Speaker 6: and a strategic imperative.
Speaker 5: Austin has drawn criticism from Republican Senator Lindsey Graham, who
Speaker 5: calls him naive, saying strategic failure is letting Hamas stand.
Speaker 5: Ed Baxter Bloomberg Radio.
Speaker 1: Okay, and thank you. The administrations ramping up pressure on
Speaker 1: Congress over aid to Ukraine. White House Budget Director SHLANDA.
Speaker 1: Young says the US will run out of funds to
Speaker 1: assist Ukraine by the end of this year unless Congress
Speaker 1: acts Republican Senator James Lankford says he thinks the deal
Speaker 1: can get done by then with the funds tied to
Speaker 1: border security.
Speaker 7: We're going to do this all together.
Speaker 8: That's been the agreement that again from the White House
Speaker 8: originally and asked for all these things to be together.
Speaker 7: We have agreed to do all these things to.
Speaker 6: Be able together.
Speaker 7: We can get this done by the end.
Speaker 6: Of the year.
Speaker 1: Senator Lankford was on ABC's This Week, which you can
Speaker 1: hear every Sunday on Bloomberg Radio. The White House is
Speaker 1: seeking more than sixty one billion dollars in Ukraine eight
Speaker 1: as part of one hundred and five billion dollar emergency
Speaker 1: package that also includes funds for Israel, Pacific allies and
Speaker 1: border security.
Speaker 2: Well, we turned to Wall Street Now Nathan An optimism
Speaker 2: over FED rate cuts next year has several markets on
Speaker 2: the move. This morning we had the latest of the
Speaker 2: Bloomberg's John Tucker, John.
Speaker 8: And Karen Traders are still digesting FED share Jerome Palell's
Speaker 8: comments on Friday. This is part of what he had
Speaker 8: to say.
Speaker 9: We are prepared to Titan policy further if it becomes
Speaker 9: appropriate to do so.
Speaker 10: Well.
Speaker 8: Powell also said monetary policies well into restrictive territory, and
Speaker 8: in the selective hearing of investors, that's the narrative. Wall
Speaker 8: Street latched onto the S and B five hundred continued
Speaker 8: It's March higher. Friday, treasure yields tumbled, and as we
Speaker 8: start the new trading week, gold earlier shot past a
Speaker 8: previous all time high, Bitcoin back above the forty one
Speaker 8: thousand level to the Hygha sins April of twenty twenty two.
Speaker 8: The everything rally will need some data to back it up.
Speaker 8: The latest reading on job openings or jolts. That's due tomorrow,
Speaker 8: and the jobs report is out on Friday. I'm John Tucker,
Speaker 8: Bloomberg Radio.
Speaker 1: All right, John, Thanks. You've also got deals to start
Speaker 1: the week, including one in the air. Alaska air Group
Speaker 1: has agreed to buy rival Hawaiian Airlines. More on that
Speaker 1: from Bloomberg's Doug Grisner.
Speaker 3: Alaska will pay roughly a billion dollars for shares in
Speaker 3: Hawaiian holdings and take on about nine hundred million dollars
Speaker 3: in Hawaiian debt. Hawaiian has been hurt by the slow
Speaker 3: return of tours in between Asia and Hawaii after the pandemic.
Speaker 3: The carrier has also struggled as Southwest Airlines ramped up
Speaker 3: in the Hawaii to US market. Alaska Air's proposal may
Speaker 3: be tested. The Biden administration stance on mergers has already
Speaker 3: thwarted one airline deal, Jet Blue Airways cash takeover of
Speaker 3: Spirit Airlines. That lawsuit is nearing a close in New York.
Speaker 3: I'm Doug Prisner, Bloomberg Radio.
Speaker 1: Okay, Doug, thanks, and shares of Alaska air Group are
Speaker 1: down more than nine percent in early trading, and.
Speaker 2: We have a deal this morning. In the drug industry,
Speaker 2: Nathan Roach Holding has agreed to pay as much as
Speaker 2: three point one billion dollars for Karmath Therapeutics. The company
Speaker 2: is developing a new type of weight loss treatment that
Speaker 2: sparked a pharma industry gold rush. Karmot's drugs are still
Speaker 2: in early stages of development, but the deal could lead
Speaker 2: to a competitor.
Speaker 7: To the likes of a Govi and Eli. Llloy's zepp Bound.
Speaker 2: Analysts estimate the weight loss market could reach one hundred
Speaker 2: billion dollars by the end of the decade. Shares of
Speaker 2: Roach You're up more than two percent overseas.
Speaker 1: And shares of Spotify are up more than two percent
Speaker 1: as well. In Earth Trading, Karen that company is cutting
Speaker 1: headcount by about seventeen percent. The job cuts will effect
Speaker 1: about fifteen hundred people. It is at least the third
Speaker 1: time this year Spotify has reduced headcount. Spotify is on
Speaker 1: pace to add more than one hundred million users this year,
Speaker 1: It's biggest year yet. The company also reported a rare
Speaker 1: profit last quarter.
Speaker 2: Now, Nathan, let's get an update from the COMP twenty
Speaker 2: eight climate summit in Dubai. Bill Gates was once the
Speaker 2: world's richest man, and now he's devoted a large chunk
Speaker 2: of his fortune to fighting climate change. We asked the
Speaker 2: Microsoft co founder if he thinks the world can meet
Speaker 2: the global warming targets from the twenty fifteen Paris Agreement.
Speaker 9: No, we won't hit hit the aspirational targets. Well, you
Speaker 9: can do the math on one point five.
Speaker 7: And even two point zero. Isn't that likely?
Speaker 2: And still Bill Gay says he's still optimistic the world
Speaker 2: can avoid becoming three degrees celsius warmer than the pre
Speaker 2: industrial era. And you can hear more of our conversation
Speaker 2: with Bill Gates coming up shortly on the program Time
Speaker 2: Now for a look at some of the other stories
Speaker 2: making news around the world. For that, we're joined by
Speaker 2: Bloomberg's Amy Moore is seeing good morning.
Speaker 7: Good morning, Kiera.
Speaker 11: The US Supreme Court will your arguments today in the
Speaker 11: bankruptcy deal for oxyconton maker Purdue Pharma. ABC News spoke
Speaker 11: to attorney at Niger, an attorney for some of the
Speaker 11: plaintiffs who helped negotiate that settlement.
Speaker 7: In a way, this case is about deterrens.
Speaker 1: It's about holding corporate leaders and owners accountable for their
Speaker 1: business decisions.
Speaker 11: The six billion dollar deal gives Purdue Pharma's owners the
Speaker 11: Sackler Family immunity, protecting them from lawsuits. A leading national
Speaker 11: health expert says the US should experience a more typical
Speaker 11: flu and virus season this winter.
Speaker 9: We're probably looking at a more typical winter pathogen season
Speaker 9: what we've seen in past years.
Speaker 11: Speaking on CBS's Face the Nation, former FDA Commissioners doctor
Speaker 11: Scott Gottlieb says the level of RSV and flu cases
Speaker 11: is abating, but he is still encouraging everyone to get vaccinated.
Speaker 11: The Centers for Disease Control and Prevention says about a
Speaker 11: third of Americans or not getting enough sleep nurse Susan Harris,
Speaker 11: a sleep expert, says sleep controls everything in our lives,
Speaker 11: and without it, we struggle.
Speaker 12: It's essentially another pandemic that we are experiencing.
Speaker 11: She says sleep is the most underestimated and underutilized health
Speaker 11: aight in modern society. US Air Forces divers have discovered
Speaker 11: wreckage and remains of crew members from a US Air
Speaker 11: Force Osprey aircraft that crashed last week off southwestern Japan.
Speaker 11: Sources say five bodies in the bulk of the wreckage
Speaker 11: were located underwater. The Osprey plunged into the sea off
Speaker 11: the island of Yakashima on Wednesday.
Speaker 7: Eight people were on board.
Speaker 11: The latest class of Kennedy Center Honorees were inducted last night,
Speaker 11: including comedian Billy Crystal, soprano Renee Fleming, singer, songwriter, producer
Speaker 11: and member of the Begs Berry Gibb rapper, singer and
Speaker 11: actress Queen Latifah, and singer Dion Warwick. President Biden says
Speaker 11: the performing arts reflect who we are as Americans and
Speaker 11: as human beings.
Speaker 13: That's especially true for more than two hundred Kennedy Center
Speaker 13: honorees over the past forty six years have helped shape
Speaker 13: how we see ourselves, how we see each other, and
Speaker 13: how we see our world.
Speaker 11: The gala event took place last night, hosted by previous
Speaker 11: honor Ey Gloria Stefan. The show will air on Wednesday,
Speaker 11: December twenty seventh on CBS Global News twenty four hours
Speaker 11: a day and whenever you want it with Bloomberg News Now.
Speaker 7: I'm Amy Morris and this is Bloomberg Karen.
Speaker 2: All right, Amy, thank you what we do bring you
Speaker 2: news throughout the day. As Amy said right here on
Speaker 2: Bloomberg Radio, but also, as she said, you can get
Speaker 2: the latest news on demand whenever you want it. So
Speaker 2: the question is how do you do it? While you
Speaker 2: subscribe to Bloomberg News Now, and then you can get
Speaker 2: the latest headlines right at the click of a button.
Speaker 2: Get informed on your schedule. You can listen and subscribe
Speaker 2: to Bloomberg News Now on the Bloomberg Business app, Bloomberg
Speaker 2: dot com, plus Apple, Spotify, and pretty much anywhere else
Speaker 2: you get your podcasts. So it's time now for the
Speaker 2: Bloomberg Sports Update. For that, we bring in John stash
Speaker 2: out gun Karen.
Speaker 14: Before the NFL kicked off controversy in college football the
Speaker 14: last year that the playoff is only four teams. Next
Speaker 14: year it's going to twelve, so the last time this
Speaker 14: is likely to happen, a team goes undefeated in a
Speaker 14: Power five conference and doesn't get invited. It happened to
Speaker 14: Florida State, who went thirteen to zero in the ACC
Speaker 14: also beat two SEC teams LSU and Florida. A week ago,
Speaker 14: the Seminoles were ranked in the top four. Alabama was
Speaker 14: only eighth, but the Crimson Tide had the upset of
Speaker 14: Georgia in the SEC championship game, and Bama is off
Speaker 14: to the Rose Bowl to play Michigan on New Year's Day.
Speaker 14: That's the first semi final. Washington will play Texas and
Speaker 14: the Sugar Bowl in the other two teams who've never
Speaker 14: been in the playoff before. It came down to Bama
Speaker 14: and Florida State, and the committee went with the Crimson
Speaker 14: Tide and the Seminoles will settle for the Orange Ball,
Speaker 14: which is not a playoff bowl. The big NFL game
Speaker 14: was in Philadelphia, a rematch of last year's NFC Championship.
Speaker 14: This time the forty nine ers wanted easily forty two
Speaker 14: to nineteen. They scored two touchdowns at each of the
Speaker 14: last three quarters. Deebo Samuel into the end zone three times.
Speaker 14: Brock forty through fourteen he passes. The Niners are nine
Speaker 14: and three, the Eagles are ten and two. The Patriots
Speaker 14: are two and ten. Shut out at home for the
Speaker 14: second time this year. They went to Bailey Zappi as
Speaker 14: their quarterback. That didn't work. Pat's loss of the Chargers
Speaker 14: six to nothing. Fourth strad loss for the Commander is
Speaker 14: beaten at home by Miami forty five to fifteen. The
Speaker 14: Bruin beat Columbus three to one. Scottie Scheffler won the
Speaker 14: World Hero Golf in the Bahamas at twenty under park
Speaker 14: John Stashaewa.
Speaker 7: Bloomberg Sports.
Speaker 10: From coast to coast, from New York to San Francisco,
Speaker 10: Boston to Washington, DC, nationwide on Syrias exam the Bloomberg
Speaker 10: Business app in Bloomberg dot Com. This is Bloomberg Daybreak.
Speaker 10: Good morning. I'm Nathan Hager. Let's get to the latest
Speaker 10: from the Middle East.
Speaker 1: Now, where Israel is mourning residents of southern Gaza to evacuate.
Speaker 1: A new ground invasion of that part of the Palestinian
Speaker 1: held enclave is expected and soon at the same time,
Speaker 1: the US Navy is responding to drone and missile attacks
Speaker 1: against commercial ships operating in the Red Sea. For the
Speaker 1: very latest, we are joined now by Bloomberg's Oliver Crook,
Speaker 1: who has been following this war since the October seventh
Speaker 1: Hamas attack in southern Israel. Ali, good morning. What is
Speaker 1: the latest that we're hearing from the Gaza strip and beyond.
Speaker 15: That's right, Nathan, so we have you know, after this
Speaker 15: truce expired on Friday, you had seven day pause in
Speaker 15: the fighting. It has really taken a hold once again,
Speaker 15: and not in any sort of less significant phase. And
Speaker 15: now we have a new phase, as it's being described
Speaker 15: by the Israelis, which is really a focus on the
Speaker 15: southern part of Gaza. We remember that the first part
Speaker 15: of the operation was that ground defensive after pummeling of
Speaker 15: the northern part of Gaza. That appears to now be
Speaker 15: expanding to the south and that is seemingly going to
Speaker 15: focus around the city of Communists, where the Israelis say
Speaker 15: that the Hamas leadership has entrenched themselves. They're inside the tunnels,
Speaker 15: is what they're saying. They're asking people to evacuate to
Speaker 15: go to. Now what they've set up our safe zones,
Speaker 15: no target zones, they say, and again they have said
Speaker 15: that they are doing this with a caution to civilian
Speaker 15: life and that they have learned some lessons from the
Speaker 15: North on effectiveness and this sort of thing. But we
Speaker 15: also need to think about how densely populated now. Of course,
Speaker 15: the south of Gaza is after all of the evacuations
Speaker 15: in the north, and that was the whole effort for
Speaker 15: the last eight weeks, was getting people out of the
Speaker 15: north into the south, and now the operation will move
Speaker 15: down that way.
Speaker 1: And now the question is with this idea that Israel
Speaker 1: has set up some kind of safe zones and the
Speaker 1: word we got yesterday from a White House National Security
Speaker 1: spokesman John Kirby that the Israel has even posted maps
Speaker 1: online where people can go. Are those locations as safe
Speaker 1: as Israel is indicating? I mean, that's the big question
Speaker 1: right now.
Speaker 15: This is yeah, this is a permanent question throughout this
Speaker 15: What I think has changed now when we enter into
Speaker 15: this new phase of the war and yet another phase
Speaker 15: is the international scrutiny is even more intense. Perhaps it
Speaker 15: is not as headline grabbing the war as it was
Speaker 15: in the very beginning, but there's certainly a lot of
Speaker 15: pressure on Israel now, and particularly from its historic allies.
Speaker 15: We've heard comments over the weekend from Emmanuel Macon, who
Speaker 15: has taken a sort of slightly more measured approach on
Speaker 15: the Israel issue, saying that basically aiming the aim of
Speaker 15: eliminating Hamas will require a decade of war, and so
Speaker 15: that Israel's objectives need to be clarified. But we heard
Speaker 15: it from Kamala Harris. We're saying that too many Palestinians
Speaker 15: have died Blinken in his third trip to Israel. You know,
Speaker 15: the tone has shifted and shifted and shifted, saying that really, again,
Speaker 15: there needs to be fewer people dying as this operation
Speaker 15: goes on. So you are seeing a shift in that.
Speaker 15: So perhaps that pressure will have to make that a
Speaker 15: top priority for the Israelis now.
Speaker 1: I guess, I would imagine it would be a little
Speaker 1: too soon to say whether that shift in rhetoric is
Speaker 1: actually leading to a shift in tactics when it comes
Speaker 1: to how Israel carries out this war in the days
Speaker 1: and weeks to come, and tries more, I guess, plainly
Speaker 1: to show the international community that it is doing what
Speaker 1: it can to limit civilian casualties.
Speaker 15: Yeah, yeah, I mean I think you certainly will get that.
Speaker 15: You got it from just now from the IDEFA spokesman's
Speaker 15: coming out and again emphasizing the civilian side of it.
Speaker 15: But again we heard from the chief of staff from
Speaker 15: the Israeli Defense Forces over the weekend and we were asked.
Speaker 15: They were being asked basically, what does this thing in
Speaker 15: the south look like? What does this operation look like?
Speaker 15: And they would say it will be as thorough in
Speaker 15: the south at as it has been in the north.
Speaker 15: And again everyone is going to be paying attention to
Speaker 15: the casualty numbers, the figure of dead. We understand that
Speaker 15: that figure is now at fifteen thousand, five hundred people
Speaker 15: that have been killed in Gaza since the beginning of
Speaker 15: this war. Eighty percent of the two point two million
Speaker 15: people have been displaced. I mean, these are just huge figures.
Speaker 15: The Israeli say that five thousand are Hamas fighters that
Speaker 15: are now dead. And again, now the operation is going
Speaker 15: through the tunnels and dealing with all of these things.
Speaker 15: But again we are on day fifty nine of this
Speaker 15: day sixty is coming up tomorrow, and there's not really
Speaker 15: an end in sight.
Speaker 1: And in the meantime, we mentioned that the US has
Speaker 1: been responding to attempted attacks and in some cases I
Speaker 1: guess successful attacks as well. On commercial shipping in the
Speaker 1: Red Sea, I mean, there are two potential questions there.
Speaker 1: What is the risk that this escalates into a wider
Speaker 1: war and what's the risk to shipping to supply lines globally.
Speaker 15: It's something that really the market is also very intensely,
Speaker 15: you know, focused on with all of these sort of
Speaker 15: spillover effects. And as we know, the United States has
Speaker 15: been intercepting missiles over the Red Sea over the last
Speaker 15: few weeks, coming from Yemen all the way up the
Speaker 15: Red Seas is a huge distance across, and is it
Speaker 15: a top priority to mitigate all that the Saudis that
Speaker 15: are on the border with Yemen, you know, some we
Speaker 15: understand that they've been firing into their airspace and all
Speaker 15: of these are sort of the potential conflict points. However,
Speaker 15: again we see all of the same risks we've seen
Speaker 15: for the last few weeks and months, which is Hezbollah
Speaker 15: in the north of Israel. Again, there's still some attacks there,
Speaker 15: but nothing that really stands out as a dramatic escalation.
Speaker 15: But these are all the things that the market certainly
Speaker 15: will be playing close attention to. In the United States
Speaker 15: has its significant naval fleet out there to deter exactly
Speaker 15: this kind of behavior.
Speaker 1: Absolutely, And as you mentioned, this week will mark two
Speaker 1: months since the October verse seventh attack. This Thursday will
Speaker 1: be that two month mark. Raises the question about how
Speaker 1: much longer this conflict can go on and whether Israel
Speaker 1: needs to spell out more clearly what its objectives are,
Speaker 1: what dismantling and destroying Hamas will mean.
Speaker 15: This is exactly the point, what does that mean. We
Speaker 15: know that the aim is to dismantle Hamas. The question
Speaker 15: is again with an insidiousness of an ideology which is
Speaker 15: not just composed of a very sort of neat selection
Speaker 15: of human beings that once they're gone, it's gone. This
Speaker 15: is the problem and this is the problem that the
Speaker 15: Israelis have and this is where again the support of
Speaker 15: the international community will be tested as this war continues
Speaker 15: to rumble on. And the other issue you have is
Speaker 15: obviously you have the situation in Gaza, but when you
Speaker 15: look at the West Bank, they after the cease fire,
Speaker 15: where you had the hostages released and you have a
Speaker 15: many Palestinian prisoners released. You saw a lot of Hamas
Speaker 15: flags running in the West Bank because they're seeing this.
Speaker 15: Hamas to a degree is standing up for the Palestinian cause.
Speaker 15: It is bringing results, it is bringing people back home.
Speaker 15: And again this only complicates this matter, which again it's
Speaker 15: very hard to be very optimistic about this, but there
Speaker 15: needs to be some kind of political or diplomatic breakthrough
Speaker 15: for there to be a durable solution to this conflict
Speaker 15: that has plagued the reason for many, many, many decades.
Speaker 1: All right, Bloomberg's Oliver Crook joining us this morning, who's
Speaker 1: been part of our team covering this conflict between Israel
Speaker 1: and Hamas since the October seventh attack. And Oliver with
Speaker 1: us this morning. Thanks again for being with us. And
Speaker 1: now we want to bring you our conversation with Bill Gates,
Speaker 1: the co founder of Microsoft, who is one of the
Speaker 1: many dignitaries at the COP twenty eight climate summit in Dubai.
Speaker 1: Gates says the world probably will not meet the goal
Speaker 1: from the twenty fifteen Paris Agreement of limiting the rising
Speaker 1: global temperatures to one and a half degrees celsius, but
Speaker 1: that doesn't mean he isn't optimistic about the fight against
Speaker 1: climate change. Bill Gates praised the COP Summit for making
Speaker 1: progress on tackling global warming despite geopolitical tensions. Gates spoke
Speaker 1: with Bloomberg's Farancy Laquai from Dubai discussing COP twenty eight,
Speaker 1: the warming Planet, and how he measures success against climate change.
Speaker 1: Let's go to part of that discussion.
Speaker 9: Climate change. Overall, it's a challenge to the world. Hydrocarbons
Speaker 9: have been very cheap. Our economy is built around in coal,
Speaker 9: gas oil, and so we have to make this change.
Speaker 9: The progression of inventing new approaches, green approaches, and then
Speaker 9: implementing them and over time scaling them and getting them
Speaker 9: so cheap what I call zero green premium.
Speaker 7: You first have to have risk capital.
Speaker 9: Then you have to have bigger amounts capital, eventually, as
Speaker 9: they say, trillions of dollars to get every country to
Speaker 9: replace it's steel plants at cement plants and so depending
Speaker 9: on the emissions area. Some of these things like steel
Speaker 9: and cement were at the very early stage.
Speaker 7: Some like electric cars, at.
Speaker 9: Least at the high end the green premium you could
Speaker 9: says zero, not for for low cost cars where you
Speaker 9: park on the street. But you so all these things
Speaker 9: and the faster we go, the less temperature increase.
Speaker 7: We'll see.
Speaker 12: But do you think we're going fast enough to actually
Speaker 12: hit the targets that were set out in the Paris Agreement?
Speaker 9: No, we won't hit hit no to aspirational targets. Well,
Speaker 9: you can do the math on one point five and
Speaker 9: even two point zero. Isn't that likely?
Speaker 7: Now?
Speaker 9: Fortunately, if you stay below three, a lot of the
Speaker 9: ill effects that people have heard about don't happen unless
Speaker 9: you really are irresponsible.
Speaker 7: And let it get up to the higher range.
Speaker 12: Where do you see the role of fossil fuels going forward, Well.
Speaker 7: We have to outcompete fossil fuels.
Speaker 5: Now.
Speaker 9: To do that properly, they you know, they shouldn't get subsidies,
Speaker 9: and in fact a carbon tax over time should be
Speaker 9: put on so that the new you know, say the
Speaker 9: electric car or the plane that use hydrogen, the fact
Speaker 9: it doesn't emit carbon, you're helping it get adoption. Those
Speaker 9: companies have skills, you know, if you want to sequester
Speaker 9: carbon or you know nuclear wayt or there's a lot
Speaker 9: of skills if you want to make biofuels. You know,
Speaker 9: some of those companies will take the capital and skills
Speaker 9: they have you know, so I wouldn't you know, say okay,
Speaker 9: I wish they weren't there. You know, people still, you know,
Speaker 9: there's no country that can say, okay, we have zero emissions.
Speaker 6: Uh.
Speaker 7: You know, people want to drive to work.
Speaker 6: You know.
Speaker 9: In fact, the excess supply when Russia cut off its
Speaker 9: supply in the world was sort of glad.
Speaker 7: That was available.
Speaker 9: And so yes, oil and gas needs to be out competed,
Speaker 9: and those companies need to join the effort.
Speaker 12: I know you look at a lot of technologies and
Speaker 12: a lot of innovation, but is there one thing that
Speaker 12: you've been most excited about.
Speaker 9: If we can get either nuclear fission or fusion to
Speaker 9: be safe and broadly accepted and very economic because it's
Speaker 9: not whether dependent, it would be very complementary to the
Speaker 9: large amount of solar and wind that we're putting into
Speaker 9: our electric system.
Speaker 7: And so I'm biased.
Speaker 9: I'm a huge investor in both fission and fusion and
Speaker 9: hoping that it comes in time.
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