00:00Mr. President, one of your primary administration goals is to make sure that we unleash American
00:10energy.
00:11And of course, the strategy behind that is when we do that, it helps make it more affordable
00:15for all Americans.
00:16Energy isn't just an industry, it is the foundation of every other industry, whether
00:21it's food, manufacturing, clothing, transportation.
00:26And then also, when we've got the ability to generate and not just be energy independent
00:29but energy dominant, then we have the opportunity to sell energy to our friends and allies versus
00:34them buy it from our adversaries.
00:36And our adversaries were funding terrorism and conflicts against our allies by their
00:44oil and gas sales that were going through a Swiss chief set of sanctions.
00:49So with your creation of the National Energy Dominance Council, over half the people at
00:54this table serve on that.
00:55Everyone has been engaged, whether it's interactions with negotiations with other countries, with
01:01putting sanctions in place that actually work, with cutting deregulation, working on biofuels,
01:08building infrastructure for transportation.
01:10There's a whole range of things that are being tackled.
01:14And the outcome of all that is that the Biden administration was restricting supply.
01:19You're increasing supply.
01:21When you increase supply, then prices start to come down.
01:24And we have a huge opportunity to do this.
01:27Just in interior alone, there's 500 million acres of surface, 700 million acres of subsurface,
01:33and 2.5 billion acres of offshore.
01:35And the Biden administration was trying to restrict this so that you couldn't, you know, you couldn't
01:40get a timber leash.
01:41You couldn't cut a tree.
01:42You couldn't graze a cow.
01:43You couldn't develop oil and gas minerals, and you couldn't develop the critical minerals
01:47we need for our technology, for our defense industries, and to be able to help us win
01:54the AI arms race against China.
01:55So we're opening up this, and with your executive orders and your work, we've, on Tuesday, historic
02:02day, you ended the war on beautiful, clean coal, which has been going on since Obama took
02:08office.
02:09China gets 60% of their electricity from coal.
02:13They're opening up a, they've opened up 94 gigawatts of coal in the last year as part
02:19of this AI arms race, 94 gigawatts.
02:21That's enough for 94 Denvers to be able to, one gigawatt per metro area like that.
02:27It's unheard of.
02:28So we have an opportunity under your leadership to come back.
02:31The Gulf of America had its first offshore lease sale, which is scheduled for later this
02:37year, but that was, the industry loved that because we're now, the Gulf of America is now
02:42open for business again.
02:44And there's the, as much as 7 billion barrels of oil accessible now.
02:50They've increased the, the upside of what they think that is.
02:53On the coal front, the estimate is the financial value of the coal in America is $8 trillion.
03:00That was an asset on the balance sheet that we've now being put back on again.
03:04And of course, in Alaska, with your separate executive orders to unleash Alaska energy, between
03:09ANWR, the North Slope, the Strategic Petroleum Reserve of Alaska, all of those, we've
03:15reversed Biden's decision.
03:16Those are all open for business again.
03:18And all of this is leading to the, to the investment coming to America.
03:23The smart money is coming to the U.S.
03:26That's why we've got, you know, trillions of dollars of investment that are showing up
03:30at the door because they know if they're going to do manufacturing here, there's going to be
03:33energy to power their plants.
03:35And so, again, thank you for your leadership and thank you for everything you're doing.
03:40Very good.
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