Book your ticket to happiness with Sun Express Airlines. This is CBS CBSI in the world. I'm John Bachelor welcoming Richard Epstein.

Professor Richard Epstein at NYU and the University of Chicago teaches law.

Importantly, he's a senior fellow at the Hoover Institution writing defining ideas about

the Securities and Exchange Commissions climate-related disclosures for investors.

Yes, it's odd, but there it is. Richard, a very good evening to you.

Gary Ginsler, you remind me, is the head of the SEC. And we've waited for some time as to how

the SEC believes that it can assist the global opinion

of the reduction of greenhouse gases to save the planet from further warming. However, these new rules that you

explicate in your article of defining ideas are a challenge for the logic.

So we will begin with why these rules believe that they can achieve

greenhouse gas reduction. Does Mr. Ginsler explain that? Good evening to you.

No, one of the striking things about this entire endeavor

is there's no other whatsoever to use any empirical evidence about

either the severity of global warming on the one hand

or the possibility that these regulations could

lead to a change in conduct which incurring can lead to a reduction.

One of the things to understand about this is my view is that the global warming situation seriously misunderstands the sources of these difficulties.

That carbon dioxide is probably a small part to play in it, but they're large global forces that have much greater influence on this.

If you think back historically, there was a time not too long ago when Sweden was under a mile

of ice, and it turns out now it's not, and it's clearly not the human activities that led to those huge changes.

So whenever you have to look at this stuff, you have to look against the tapestry

in which there are enormous changes that are attributable to natural forces.

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