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we have started to bring in the big oil companies and the fossil fuel companies into the conversation of climate change because it is such a huge deal to the oil companies. at the same time, the truth is, you have to engage with the fossil fuel companies in order to get the clean energy companies to change their ways. and those clean energy companies are either going to change their ways or theyll be bought by the fossil fuel companies.
our goal is to try to create a momentum for change. i think youve seen it in a lot of different places, but one of the things weve learned over the last couple of years working with different countries is that theres a kind of inertia to change. theres a temptation to hold onto the status quo, and theres a temptation to not try to change things. but when you find a way to engage governments, you can change that inertia and change peoples thinking and that makes it much easier to get change, and thats what we want to do with a lot of the different countries in the region.
in the u.s., i think there is a growing frustration with the lack of progress on addressing climate change. theres a growing frustration with the fact that you cant seem to get any kind of economic growth without the growth of the carbon economy. theres a growing impatience with our leaders in washington who seem to have lost that ability to lead. and i think thats a big part of the discontent thats growing in the u. right now.
its crucial to realize that these are big, big, big countries with big, big problems. if you are looking at one of these countries, if you are looking at one of these countries, if you are looking at one of these countries, you are looking at a country that is going to have a big problem with energy and its going to be very difficult to help them move forward. in the first instance, you have to understand the problem. you have to understand the scale of the problem that they are going to have. thats a big, big problem. and you have to look at it in a way that is more than a specific project.
the paris conference, he has called it, the paris conference, will begin in mid-december and will last until mid-december. its an important milestone on the way to the goal of reducing emissions by at least 40% below 1990 levels by the year 2030. and the reason it is important and the reason it is so significant is the recognition that climate change is not a future problem, as many people have said, its a problem that already exists and that need to begin taking the steps necessary to deal with it now, and that means reducing emissions. and the paris conference, when it occurs, will be the peak of what i call the policy discussion.
and ive seen quite a bit of literature out there with the idea of what can a nation do. and im not going to get into that right now, because the first topic to deal with is the most immediate: the paris conference, and the question of what are we doing at home and why are we doing what we are doing.
because of rules on foreign exchange, and frankly i think some rules on credit, this is definitely a very different situation from the us, and its not so good for chinese companies investing in the us, just as it is not great for us companies investing in china.
but it is very good for the us, because we have greater flexibility in our budgeting and tax laws for capital investment than china does. and we have substantially more flexibility in the flexibility of our financing in general, and i would note that since the election we actually have seen a lot of capital investment in the us, and these are real honest and good investments. its not an investment in an iphone, its an investment in a tractor, and its an investment in a coal fired power plant. and even for the coal fired power plant, they are building, they are not only building them but they are building them into the communities that are receiving them. and i am hoping that this will really pave the way for an expansion of investment in other sectors over the coming decades as well, because this is very exciting. its very exciting. and the payoff to the chinese, of course, is that they find their investments and the wages of their workers and the ability of their companies to sell their products at a much better price in the us.