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This is CBS on the world. I'm John Bachelor. I welcome Professor Richard Epstein Senior Fellow at the Hoover Institution, writing on Climate and the SEC.

These are two stories I never thought would work so well together, but they do because

they're in the Biden administration, there are new imprecations and questions to be answered

for the many companies that obey follow very closely the SEC rules.

Richard a very good evening to you, you will report right away that climate change

is a major, major story for the Biden administration and many other sovereignties.

However, the Biden administration is now going about making climate change part of the conversation

of government and that extends to the SEC.

But before we go there, will list the fact that right away

mister bide moved to cancel the keystone Excel pipeline

and pause oil and gas leasing on public lands

those are two obvious decisions that impact the politics of this, but you make

the salient point that there's no way to know whether this has anything to do with climate

change. Is that correct?

It's basically correct and there are a bunch of explanations for it.

The simplest one is you cancel a pipeline and you look at the quote-unquote direct consequences is that they're

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