May 1, 2025 • 8 mins
Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF.
Carol Massar and Tim Stenovec speak with Gina McCarthy, Former White House Climate Advisor and EPA Administrator. They discuss President Trump's second term so far, the 'America is All In' coalition, and her take on climate progress in the absence of federal leadership.
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Episode Transcript
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Speaker 1 (00:02):
Bloomberg Audio Studios, Podcasts, radio news.
Speaker 2 (00:08):
You are listening to the Bloomberg Business Weekdaily Podcast. Catch
us live weekday afternoons from two to five pm Eastern.
Listen on Apple CarPlay and the Android Auto with the
Bloomberg Business app, or watch us Live on YouTube.
Speaker 3 (00:22):
We're going to continue our coverage of President Trump's second term.
So far, one notable impact is on energy policy. His
desire to quote drill baby drill and amp up fossil
fuel exploration in the United States that we've certainly seen,
along with rolling back support for clean energy initiatives and
programs and climate change. And our next guest is a
former administrator of the EPA, the Environmental Protection Agency. She's
(00:45):
quote in The New York Times saying, quote this is
worse than any previous administration and that President Trump quote
can do a lot of damage to the agency. When
he leaves, he will have left devastation in his way.
Speaker 1 (00:57):
We got back with us Gina McCarthy. She's a former
EPA administry in the US and the first White House
National Climate Advisor. She's also managing co chair of America
is All In Coalition. This is a group of leaders
from all over the US that supports climate action. It
is supported by Michael R. Bloomberg and Bloomberg Philanthropies. Gina
also Senior advisor at Bloomberg Philanthropy, the philanthropic arm of
(01:17):
Bloomberg LP, the parent company at Bloomberg TV and at
Bloomberg Radio. She joins us from Boston. Gina, good to
have you back with us. What specific presidential actions in
your view, would or have already had the biggest impact
on our environment.
Speaker 4 (01:33):
Well, I think that on the whole, we see this
entire administration trying to benefit fossil fuels at the expense
of low cost plane energy, and I think that's the
big takeaway. Look, I know that right now the economy
is not going great, and it doesn't surprise me given
Trump's policies. But from my small perspective, I'm looking at
(01:56):
USPA and they're dismantling the agent and see they're finding
a way to get rid of everyone that's ever talked
about environmental justice before. The research is the scientists. So
what we have here is a tremendous challenge ahead to
basically make sure that our communities are protected, our economy
can continue to thrive, that we have healthy kids, living
(02:22):
long lives. This is definitely for me, not just the
dismantling of EPA, but it is a potential to dismantle
the entire federal government. And so we have to all
step up. We have to recognize the challenges of today,
and we have to look at how we can stop
these rollbacks of rulemakings every single week that we're seeing
(02:46):
from this administration that threatens our lives and livelihoods all
across the United States and threatens our ability to have
allies we can count on internationally.
Speaker 3 (02:57):
Gina, remind the world, reminder about kind of what the
EPA does, and not just for the United States, but
on a global scale. Just give us just a quick
quick overview of the things that I think, you know,
we just assume things are going to be here. We're
gonna have clean water, we're gonna have electricity, we're gonna
have highways and all that good stuff. I'm just talking
about general of how the US works, but the EPA specifically,
(03:20):
what that does for every American citizen, our hopes to
do for every American citizen.
Speaker 4 (03:26):
Well, EPA does have a very focused mission. It's to
protect our health and the environment. That's its mission. Now.
I know there are folks like Lee's Elden who's running
the agency, who wants to shift it to fossil fuels,
but that's essentially what it is, and for decades, what
it's been focused on is actually looking at how we
(03:48):
keep our water plane, how we keep our EA clean,
how we look internationally. A challenge is like the ozone layer,
A challenge is like hydrofluoricobbins. All these challenges plus clignment,
these are international efforts that EPA has been participating in
for decades. And EPA is really the most well respected
(04:11):
environmental agency and our sole goal is to protect people,
not just in the United States for sure, that's where
our major focus is, but internationally they understand the global
challenges we're faithing and to work hand in hand with
communities and countries all across the world so that we
can learn how best to keep our mission, which is
(04:34):
protecting the health of our communities and restoring and engaging
in our environmental efforts so that we have the ability
to live long, healthy lives. That's what it does every single.
Speaker 1 (04:49):
Day, Gina. I'm looking at WTI right now, West Texas
Intermedia fifty eight dollars and twenty two cents of bail
right now. I'm curious about the view that you have
about the market actually pushing back on some of this.
If oil prices are too low, perhaps it's not economical
for oil companies to indeed drill, baby drill and follow
(05:10):
through on that portion of what President Trump wants to see.
How do you view the commodities market and essentially the
market is a backstop to this.
Speaker 4 (05:18):
Yeah, I think it's really clear and it should be
clear to everybody who looks at this that that clean
energy is a decided winner here. And the challenge that
we face with this administration is that they are looking
to roll back all environmental rules. I mean, there's no
question about it. That's what they're doing, and they're looking
(05:40):
to do it quickly. And why would they want to
do that. They'd want to do that for the benefit
of fossil fuels.
Speaker 2 (05:46):
So we are.
Speaker 4 (05:47):
Seeing right now that clean energy is the decided winner
in the marketplace. And even though this administration is doing
its best to tell businesses not to invest in that
are thriving in their investments. Venti capitalists are standing up
because they know this new technologies and what this administration
(06:09):
is trying to do is revive pole which is a
dying industry, and everybody knows about it. So if we
step back just a little bit, we would be able
to see that we are in a moment of hope
and opportunity right now.
Speaker 2 (06:24):
Great, And I'm.
Speaker 3 (06:26):
Sure I'm curious, Gina, from your vantage point, what the
president wants to do on coal? What are industry folks saying,
and what are companies saying? Are they like, Okay, we
might not say it publicly, but coal makes no sense.
Speaker 4 (06:44):
Yeah, you know, I work with businesses a lot. I
work with the investment community a lot. It's all about
how we move forward with clean energy. And you're absolutely right,
this idea that we're going to revive poal is ludicrous.
But it's also very challenging I think for the business
community to stand up and wave their hand and challenge
(07:06):
things directly. But they're not doing that. They don't have
to do that. They're going to speak with their investments,
they're going to work with local communities in states, and.
Speaker 3 (07:15):
So none of that one load, none of that has
slowed since President Trump came into the White House.
Speaker 4 (07:21):
There has been some slowdowns in certain areas for sure,
but the vast majority of where people are investing and
in this our country and internationally is in clean energy.
It is not in coal. I don't know anyone who
is looking to revive old coal facilities other than the
President of the United States. And it's not going to happen.
(07:44):
It is simply not viable. But the exciting thing is
lots is happening. So when the federal government really falls asleep,
we have lots that we can do at states and
local communities. And that's what America is All In is about.
It's about making sure that work with businesses and universities
and others to really step up big time at a
moment when our country needs it most.
Speaker 3 (08:06):
I think everybody's gonna be watching what the states do
certainly going forward. Gina, thank you so much. Great to
be talking with you again. Gina McCarthy, former EP administrator
in the US, the first White House National Climate Advisor.
She's also managing co chair of America is All In
and Coalition. It's a group of leaders all over the
United States that support climate action. It is supported by
Michael R. Bloomberg and Bloomberg Philanthropy. She's also a senior
(08:28):
advisor at Bloomberg Philanthropies, which is of course the philanthropic
arm of Bloomberg LP.
Bloomberg Audio Studios, Podcasts, radio news.
Speaker 2 (00:08):
You are listening to the Bloomberg Business Weekdaily Podcast. Catch
us live weekday afternoons from two to five pm Eastern.
Listen on Apple CarPlay and the Android Auto with the
Bloomberg Business app, or watch us Live on YouTube.
Speaker 3 (00:22):
We're going to continue our coverage of President Trump's second term.
So far, one notable impact is on energy policy. His
desire to quote drill baby drill and amp up fossil
fuel exploration in the United States that we've certainly seen,
along with rolling back support for clean energy initiatives and
programs and climate change. And our next guest is a
former administrator of the EPA, the Environmental Protection Agency. She's
(00:45):
quote in The New York Times saying, quote this is
worse than any previous administration and that President Trump quote
can do a lot of damage to the agency. When
he leaves, he will have left devastation in his way.
Speaker 1 (00:57):
We got back with us Gina McCarthy. She's a former
EPA administry in the US and the first White House
National Climate Advisor. She's also managing co chair of America
is All In Coalition. This is a group of leaders
from all over the US that supports climate action. It
is supported by Michael R. Bloomberg and Bloomberg Philanthropies. Gina
also Senior advisor at Bloomberg Philanthropy, the philanthropic arm of
(01:17):
Bloomberg LP, the parent company at Bloomberg TV and at
Bloomberg Radio. She joins us from Boston. Gina, good to
have you back with us. What specific presidential actions in
your view, would or have already had the biggest impact
on our environment.
Speaker 4 (01:33):
Well, I think that on the whole, we see this
entire administration trying to benefit fossil fuels at the expense
of low cost plane energy, and I think that's the
big takeaway. Look, I know that right now the economy
is not going great, and it doesn't surprise me given
Trump's policies. But from my small perspective, I'm looking at
(01:56):
USPA and they're dismantling the agent and see they're finding
a way to get rid of everyone that's ever talked
about environmental justice before. The research is the scientists. So
what we have here is a tremendous challenge ahead to
basically make sure that our communities are protected, our economy
can continue to thrive, that we have healthy kids, living
(02:22):
long lives. This is definitely for me, not just the
dismantling of EPA, but it is a potential to dismantle
the entire federal government. And so we have to all
step up. We have to recognize the challenges of today,
and we have to look at how we can stop
these rollbacks of rulemakings every single week that we're seeing
(02:46):
from this administration that threatens our lives and livelihoods all
across the United States and threatens our ability to have
allies we can count on internationally.
Speaker 3 (02:57):
Gina, remind the world, reminder about kind of what the
EPA does, and not just for the United States, but
on a global scale. Just give us just a quick
quick overview of the things that I think, you know,
we just assume things are going to be here. We're
gonna have clean water, we're gonna have electricity, we're gonna
have highways and all that good stuff. I'm just talking
about general of how the US works, but the EPA specifically,
(03:20):
what that does for every American citizen, our hopes to
do for every American citizen.
Speaker 4 (03:26):
Well, EPA does have a very focused mission. It's to
protect our health and the environment. That's its mission. Now.
I know there are folks like Lee's Elden who's running
the agency, who wants to shift it to fossil fuels,
but that's essentially what it is, and for decades, what
it's been focused on is actually looking at how we
(03:48):
keep our water plane, how we keep our EA clean,
how we look internationally. A challenge is like the ozone layer,
A challenge is like hydrofluoricobbins. All these challenges plus clignment,
these are international efforts that EPA has been participating in
for decades. And EPA is really the most well respected
(04:11):
environmental agency and our sole goal is to protect people,
not just in the United States for sure, that's where
our major focus is, but internationally they understand the global
challenges we're faithing and to work hand in hand with
communities and countries all across the world so that we
can learn how best to keep our mission, which is
(04:34):
protecting the health of our communities and restoring and engaging
in our environmental efforts so that we have the ability
to live long, healthy lives. That's what it does every single.
Speaker 1 (04:49):
Day, Gina. I'm looking at WTI right now, West Texas
Intermedia fifty eight dollars and twenty two cents of bail
right now. I'm curious about the view that you have
about the market actually pushing back on some of this.
If oil prices are too low, perhaps it's not economical
for oil companies to indeed drill, baby drill and follow
(05:10):
through on that portion of what President Trump wants to see.
How do you view the commodities market and essentially the
market is a backstop to this.
Speaker 4 (05:18):
Yeah, I think it's really clear and it should be
clear to everybody who looks at this that that clean
energy is a decided winner here. And the challenge that
we face with this administration is that they are looking
to roll back all environmental rules. I mean, there's no
question about it. That's what they're doing, and they're looking
(05:40):
to do it quickly. And why would they want to
do that. They'd want to do that for the benefit
of fossil fuels.
Speaker 2 (05:46):
So we are.
Speaker 4 (05:47):
Seeing right now that clean energy is the decided winner
in the marketplace. And even though this administration is doing
its best to tell businesses not to invest in that
are thriving in their investments. Venti capitalists are standing up
because they know this new technologies and what this administration
(06:09):
is trying to do is revive pole which is a
dying industry, and everybody knows about it. So if we
step back just a little bit, we would be able
to see that we are in a moment of hope
and opportunity right now.
Speaker 2 (06:24):
Great, And I'm.
Speaker 3 (06:26):
Sure I'm curious, Gina, from your vantage point, what the
president wants to do on coal? What are industry folks saying,
and what are companies saying? Are they like, Okay, we
might not say it publicly, but coal makes no sense.
Speaker 4 (06:44):
Yeah, you know, I work with businesses a lot. I
work with the investment community a lot. It's all about
how we move forward with clean energy. And you're absolutely right,
this idea that we're going to revive poal is ludicrous.
But it's also very challenging I think for the business
community to stand up and wave their hand and challenge
(07:06):
things directly. But they're not doing that. They don't have
to do that. They're going to speak with their investments,
they're going to work with local communities in states, and.
Speaker 3 (07:15):
So none of that one load, none of that has
slowed since President Trump came into the White House.
Speaker 4 (07:21):
There has been some slowdowns in certain areas for sure,
but the vast majority of where people are investing and
in this our country and internationally is in clean energy.
It is not in coal. I don't know anyone who
is looking to revive old coal facilities other than the
President of the United States. And it's not going to happen.
(07:44):
It is simply not viable. But the exciting thing is
lots is happening. So when the federal government really falls asleep,
we have lots that we can do at states and
local communities. And that's what America is All In is about.
It's about making sure that work with businesses and universities
and others to really step up big time at a
moment when our country needs it most.
Speaker 3 (08:06):
I think everybody's gonna be watching what the states do
certainly going forward. Gina, thank you so much. Great to
be talking with you again. Gina McCarthy, former EP administrator
in the US, the first White House National Climate Advisor.
She's also managing co chair of America is All In
and Coalition. It's a group of leaders all over the
United States that support climate action. It is supported by
Michael R. Bloomberg and Bloomberg Philanthropy. She's also a senior
(08:28):
advisor at Bloomberg Philanthropies, which is of course the philanthropic
arm of Bloomberg LP.
Hosts And Creators
Tim Stenovec
Carol Massar
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