Speaking at an event held in a private home in San Francisco on Friday evening, President Barack Obama warned: “Well within our children’s lifetimes, on our current pace, the oceans go up maybe two, maybe three, maybe four feet.”

In the speech, the president said: “There are two things in particular that these days I’m spending a lot of time thinking about. The first is the changing nature of the economy.” The other, he said, is “climate change.”

Here is an excerpt from the transcript of the president’s speech, which was posted on the White House website:

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