'How Big A House Do You Live In?': John Kennedy Grills Witness Testifying About Climate Change

thank you Senator Merkley Senator Kennedy's up next thank you Mr chairman um Mr doe as I understand your testimony you're saying that at some point climate change is going to cause municipal bonds to default is that right no I would say that they that there will be under pressure just because there'll be increased um budgetary concerns well can they withstand that pressure I think so then what's the problem problem is that there might be a higher interest rate if um if there are issues that aren't addressed by state and local governments that if uh because of let's just say an anticipation of extreme weather events so so you're worried that interest rates will go up yes okay I'm looking on your website um um you just you you say uh my quote I'm quoting now contribution to the municipal industry has been extensive as an analyst strategist and Visionary of the industry's future close quote so I I want to tap your Visionary and expertise um at what point do you think climate change is going to cause interest rates on municipal bonds to rise to the point that they will the interest rates will be prohibitive when when will all this happen well I'll dust my crystal ball off if but perhaps uh I think in 10 to 20 years 10 to 20 years okay what do you think we ought to do about it I think we ought to be able to identify where infrastructure is most vulnerable to weather events and that infrastructure is then appropriate dollars are uh used to modernize uh infrastructure for example in the town of Marshfield M I want to cut you off because I don't have much time you think we ought to spend money wisely and appropriately okay sure well nobody around here ever stands up and says I've got a good idea and I don't need to spend money unwisely and inappropriately corre you understand that right I do okay uh do you support the world becoming uh carbon neutral by 2050 would that solve do you support that I don't think that's a reasonable expectation yeah but if it were do you support it doesn't seem like it's a bad thing okay do you support the United States becoming carbon neutral by 2050 it this may not be possible but do you support it if it if it were the right mix of power and energy in order to provide electricity that's needed for essential needs well you you do understand that that's the goal of of of um of of the most Ardent proponents of climate change do you not I do understand that okay how much will that cost I couldn't give a figure to that because it's outside my area of expertise on it you think we ought to just start spending money without an understanding of how much it's going to cost I don't think that's ever wise okay well don't you think we ought to look into how much it's going to cost again that's around that area that's not an area of expertise I'm really focused on addressing the updating of infrastructure for our state and local governments you you don't seem to have very many solutions um except what I take away from your testimony is that climate change is going to cause interest rates to rise on municipal bonds so at some point they the cost will become prohibited and we need to spend money on infrastructure um uh to stop it where do you think this money will come should come from I think state and local governments have the capacity to to borrow because the rates are significantly low and there's an opportunity now to do so and be proactive so you think state and local governments ought to borrow the money I do I think they have the capacity to do so just out of curiosity what kind of car do you drive I drive a uh Jeep Wagoner is it gas or electric it's gas okay uh do you have a gas stove I do not okay um do you have a heat pump I do not you don't I do not oh okay how big a house do you live in I live in a uh condominium of 8 53 ft okay I'm over thank you Mr chairman

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Length: 5min 33sec (333 seconds)

Published: Wed Jan 10 2024