Climate Change: Coal Makes Half of U.S. Electricity

REPLAY VIDEO
Your next video will start in
Pause

Recommended Videos

  • Info

  • Comments

  • VIDEO TEXT

Jan. 13 (Bloomberg) -- UN Framework Convention on Climate Change's Christiana Figueres discusses the fight against global warming on Bloomberg Television's "Market Makers." (Source: Bloomberg)

Live from bloomberg headquarters in new york, this is "market makers," with erik schatzker and stephanie ruhle.

Well-connected "market makers peer for i am stephanie ruhle.

Taking you back to matt miller in the detroit auto show.

Scarlet fu has some breaking news.

The chief operating officer of ford making comments, north american production will job next year -- drop next year.

There were concerns about inventory.

Worrying that they would have to cut prices to move inventory.

Gm sees growth in the u.s. auto market, dan amann passed over as ceo in favor of mary barra.

16 million vehicles sold in 2013. he said yesterday that the carmaker is closer than ever to restoring it dividend.

Heading back out to matt miller at the detroit auto show, interviewing top executives at car companies.

He is standing by with toyota's senior vice president for automotive operations, bob carter.

Toyota dropped a big bomb on the auto show today.

You have got this new ft1 sports car, no one expected it, everybody has been blown away.

It is a concept, tell me about the direction it points toyota.

We have a lot of heritage going back to the 1960's. sports cars, fun to drive, that is our roots.

We did this to gauge consumer interest of how we should get back into this market.

This is a concept, judging from the reaction we had this morning and the number of people he said io want one, we need to take a look at bringing something like this to the market.

You have got the frs in your psion division, you are in charge of that.

A new lexus has been a big hit.

You have a lot of sporty offerings.

Our global president is really passionate about cars, a lot of us within the company love fun to drive.

We brought out the scion frs.

Last year we had the lexus exotic supercar.

Amaro, we will reduce the lexus rcf, performance vehicle to go along with this.

Performance is the theme of our show.

Performance has been the theme of your profit operations recently.

Every quarter last year, it was like wall street investment bank size property -- profits globally.

Will that continue?

We had a very good year, our sales have recovered fantastically since the recession.

In the last two years, we are almost 600,000. what is driving at is twofold.

Real improvement in the u.s. economy.

Interest rates are low, consumer confidence is right.

The unemployment is heading in the right direction.

We are in the midst of the greatest number of new product launches we have ever had.

The combination of good u.s. economy, great product, that is driving profits.

Is that going to slow down this year?

Ford says profit is going to slow down, they had some incredible forecasting power going out to 2015. are we going to see a low-end growth we have seen in the u.s. -- a lull in growth we have seen in the u.s.? the auto industry just cannot afford consecutive years of one million cars growth per year, we cannot sustain that growth.

We came in at 15.6 million, we are forecasting 16 million vehicles next year.

A couple other manufacturers are saying 16 million or 16.2 million, not the growth we have experienced, but a very healthy industry overall.

I have got to ask you about a truck that top gear has never been able to destroy.

The toyota to,tacoma owns the market and midsize trucks.

Others are coming in with competition, gm releasing a couple trucks.

That they get shot market -- the pickup truck market was fantastic.

We expected to be good and 2014, we are seeing the construction markets recover, that drives the pickup truck market.

We had a very large foothold in the midsize pickup trucks, as well as full size with tundra and tacoma.

With some rumors around the show, we look forward to the competition.

What we saw in the car business -- the car segment -- consumers migrated from full-size to midsize down to contact.

-- to compact.

We saw that in suv's. we have yet to see that in the pickup industry.

We think with these new entries and the recovering economy, there is an opportunity for compact pickup trucks.

Alan mulally just told me they are ready to bring back the ranger if this segment continues.

He has done very well with his fusion, you have been fighting him off to keep the number one spot with camry, you have had to give a little more.

Will you be able to keep pricing power?

We have a lot of activities centered around camry, it has been the number one selling car in the u.s. for 12 consecutive years.

Will it stay that way?

That is our plan.

We're the only car that sold in excess of 400,000 cars, we plan to do that again.

Why that is important, we know that consumers buy cars one at a time.

It is important for us to have more consumers select the camry than any other vehicle in this segment because that is the largest and most important segment in the u.s. thank you for spending time with us.

Bob carter, senior vice president at toyota.

You are having the time of your life out there.

We will check in with you later.

Ken lay u.n. succeed in getting a climate change deal?

We talked to the point person on the issue, coming up next.

If you have missed any of our interviews, watch them on apple tv.

Live streaming and on-demand video, bloomberg on apple tv.

? it seems like a never ending debate in the u.s.. as the climate really changing?

People cite the increasing volatile weather, naysayers point to things like the recent snap of record cold, wondering how the world could be warming?

That logic is what christina is up against, she heads the human -- the un effort to cut greenhouse gas emissions.

Progress has been slow.

Are you at all optimistic we are going to get the kind of deal nations around the world can sign on to?

I am confident we are going to get a global agreement.

I have seen progress forward.

Over the past 3 years.

At the last conference, which recently happened in warsaw, governors decided to stay on track for the 20 15 agreement, actually to accelerate the pace with which they would reach the milestone.

Here in the u.s., do you feel like we are moving at the right pace?

Democrats want to keep obama's china change plan on the table, there are other issues that people think are more foreign -- obama's climate change plan on the table.

No one is on track, the science says we should be moving faster.

In the u.s., it has become a partisan issue.

This should not be a partisan issue.

Climate change affects everyone, no matter what your political affiliation.

How do you get people to understand that?

People seem to care about how much money is in their pocket, do they have a job, they are not thinking about planet earth.

They need to.

All those other things are secondary.

So many years later.

It is also true that everybody, every day in their own experiences having more evidence of climate change.

Here in the u.s. and in many other countries, there is increasing public demand for climate action.

People are seeing the effects.

They are not seeing it two generations down the line or way over in another continent, they are seeing it in their own front yard.

Even last week, people were not acknowledging the extreme cold weather, this is part of the radical climate change.

They were saying global warming is not happening.

They don't understand the nuances.

It is a complex issue.

If you only call it global warming, that is already the problem in calling it that, it is about global climate change.

You tell me when in the past have we talked about a polar vortex.

We are having changes that we have not seen before.

Unprecedented changes, that is what climate change is about.

Do you have a dialogue with of those people who disagree and say climate change is not happening?

If so, is it working?

I do have a dialogue.

Those who deny the science are increasingly in the minority.

They are often wealthy.

They are spending lots of their own money publicizing their position and making it difficult for the president get congressional approval for any kind of deal.

There is a difference between those who deny it and those who use money to stop policy, that is two different universes.

Those who deny the climate change are in the minority.

They are disappearing.

Those who use their funds to stop climate policy are really having, honestly, shooting themselves in the foot.

The advance of climate policy is inevitable.

It is advancing slowly but it will advance.

It will shift the value of investment.

If they continue to invest in the policy -- the technologies of old, they are not going to be the companies of tomorrow.

They are shooting themselves in the foot.

If that continues to be the position of many members of the republican party,, gaining any government -- complicating any governmental efforts to have a climate change deal, is there a way the federal government could work around congress?

The important thing here is to reach out to the u.s. citizen who does not like at this as a complex issue and says what is my interest?

My favorite issue, those out there who are republicans and say i don't really want any government interference.

I don't want the government delivering energy to me.

I will put a solar panel on my roof.

Fantastic, that is what it is all about.

It is about getting energy independence, it does not have to involve the government.

Exploiting your own resources and moving forward.

That has nothing to do with politics.

Is there a country our government that is doing it right?

I have very bad news, yes, ch ina.

China?

Hold on, would you have ever guessed?

You could have given me 50 countries.

Germany comes to mind.

China has an advantage with respect to legislation, they decide any policy and push it forward.

China is already the lead country in wind energy.

They are going to invest so much this year that they are going to bring wind power costs down.

The second in the world in solar energy, they are going to duplicate solar energy over the next two years.

They have an aggressive energy efficiency standard for buildings and vehicles.

You know why?

Not because they want to save the planet, because it is in their national interest.

Are they one of the biggest polluters?

Because they are burning so much coal, they have enormous amounts of smog, unacceptable to the citizens.

Citizens are saying you have got to do something.

They are doing it for national health reasons.

They're doing it because of competitive reasons.

They want to continue to be competitive in tomorrow's low carbon economy.

If they shift investments, they will be competitive.

The question for the u.s., does the u.s. want to be competitive or export all the renewable energy capacity to china?

It is a question the u.s. has to answer.

Thank you for joining us.

We wish you luck in your efforts.

Executive secretary of the yuan -- the u.n. convention on climate change.

A-rod out of there for the whole season.

The star suspended for 162 games . what that is going to cost him and the new york yankees.

Right here on "market makers." ? i am excited to go to davos.

Here on "market makers," talking about the new york yankees.

Third baseman alex rodriguez struck out.

He has been suspended for the entire 20 14 season for using performance-enhancing drugs.

He will forfeit his $25 million salary this year.

It could cost hundreds of millions of dollars more in lost business and endorsement deals.

I went to bring in bloomberg news sports reporter scott.

We know what this means for a-rod in terms of the immediate, could there be a silver lining for the new york yankees?

It is a goldplated lining.

They are having a great time.

A-rod has underperformed in the last several years, he is the highest paid player in baseball, if they could get rid of that salary for the next four years, they would.

It lets them get under the luxury tax, they can add another pitcher, perhaps.

Without having to pay the luxury tax.

This is the best thing that could have happened to the new york yankees.

Is there a chance they will get relief beyond the 162 games?

This is it.

Let's say at the end of next season, he is not healthy.

His hip is bothering him, he cannot play.

Insurance picks up the rest of his contract, should he retire because of injury, the yankees don't have to worry about what do we do if the problem child comes back.

What happens to endorsement deals?

He is not exactly loaded with endorsement contracts.

Why?

You get the star quarterback, think about the mega endorsers, lebron.

Even derek jeter, he has got ford, he does not have a portfolio like lebron.

Alex had a lot of incentives in his contract for the homerun title chase, he will not achieve any of those.

He could have done marketing deals.

Yankee fans would have bought merchandise, autographed baseballs, anything they wanted to sell.

A feel-good home run race.

Based on the way a-ridod has behaved and the most powerful agent in the business, what do you expect will happen?

He is done playing for the yankees.

He is done.

He will not step on the field again for the yankees, whether there is a retirement, a full buyout.

He could now go play.

Because of ill will.? in large part.

You have heard of people burning bridges, this bridge cannot be rebuilt.

This relationship between the yankees and alex rodriguez been severed beyond repair.

How important a president is the set?

-- a precedent does this set?

It is important for but d selig.

You have a new players' union leader.

The players are tired of talking about it and tired of people taking jobs because of it.

There may be some sort of groundswell to make a push on eradicating -- what is the message?

This is what happened to alex rodriguez, or is this just the tip of the iceberg?

Alex was the pelt on the wall.

They wanted to make an example out of this guy who went to such lengths to hide his activities.

With alex, let's see if it permeates to the rest of the league.

He struck out.

Thank you so much, bloomberg news sports reporter.

"market makers" will be back in a moment.

?

This text has been automatically generated. It may not be 100% accurate.

Advertisement

BTV Channel Finder

Channel_finder_loader

ZIP is required for U.S. locations

Bloomberg Television in   change