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tv   Counting the Cost  Al Jazeera  February 24, 2022 2:30am-3:01am AST

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she would have celebrated her 28th birthday next month. nobody has ever been charged with her death. a kentucky grand jury brought no charges against any of the officers who shot taylor during the raid prosecutor saying they were justified in using force to protect themselves. many in louisville are skeptical taylor will ever get justice out. you can do with hope or you could do it, hope it this hope that you know, whatever they decide to do to these offices that you know, not saying that, you know, you don't have to contain them or anything like that, but just hold them accountable for what they did wanted to have justice because blah, force me no harm people, harm citizens kill services a lot more frequently in this country than they do in other countries. there's also skepticism that this trial will hold police truly accountable. this is not justice . i'm brianna taylor still there in noah is being held accountable for her murder
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and most people here seem resigned that nobody ever will be gabriel's hondo algae zeta, louisville kentucky. ah, it is good to have you with us. hello, adrian said i can hear it though. how bad lines allows 0. the kremlin says that separately does of east of ukraine. a fully asked for military help to fend off what they're calling ukrainian aggression showing as intensified on the frontline between pro russian rebels and ukrainian forces. the european union has agreed to impose further sanctions on russia. they're expected to target the defense minister on top, but it's re come on this. the block will also impose sanctions on hundreds of members of russia's parliament, ukraine's foreign ministers asked for an immediate meeting of the un security council to pietro collabo, as urged members of the general assembly to stop what he called russia's aggressive plans. but moscow's ambassador accused kiev of causing the crisis. i warn every
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nation in these distinguished chamber, no one will be able to sit down this crisis. if president put in decides that he can move forward with his aggression against ukraine. your governments and your people will face painful consequences together with our government and our people. this is why we need to use this last chance for action and stop russia, where it is. in the u. s. a convoy of truck drivers has begun across country drive from california to washington, dc to protest against corona virus mandates. hundreds of people saw them off in the town of atlanta, the movements inspired by the demonstration north of the border and canada. i lose the headlights that he's continues here on, on to sierra, after counting the cost coming up next to some low boat isn't mechanical or even that self driving train the apple. but android today can be the really
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human only robust like me, will be everywhere. al jazeera documentary next the lead on the weird and wonderful world of will balls learn think and even trust. i feel like i'm alive, but i know i on the machine origins of his own, his ah, flow on fully back to go. this is counting the cost on al jazeera. look at the world of business and economics this week. marching closer to a $100.00 about oil prices have hit an 8 year high on u. s. warnings of a war in ukraine. so will the prices keep going up, and how are consumers feeling? the pain? oh, so this week, russia and china assigned a gas in oil deal as tension escalated over. you. great. so why is present vladimir
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putin looking east? and could the energy pivot to asia post challenges for europe and a stocks plates in silicon valley? the move by google's parent company alphabet aims to make shares cheaper and more affordable for investors. but is it really a good buying opportunity? thank you for joining as the price of oil has hit its highest level since 2014. and that could raise the prices of almost everything. consumers have already felt the pain of the petrol pump. as talk of a rush, an invasion of ukraine grew louder. the price of brent crude future's the global benchmark rose to above $96.00 for bow last week. and it might become even more expensive. and an oil market is tight and traders are worried. the geopolitical tension over ukraine could cause disruption to moscow's fuel exports. russia plays an important role in the global commodity markets is the world's number 2 producer
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of oil. second only to the united states. the nation exports about 5000000000 barrels a day of crude, roughly 12 percent of global trade. and around 2500000 barrels a day of petroleum products, about 10 percent of global trade. about 60 percent of russia's, oil exports go to europe and another 30 percent to china. but other factors play an important role to demand for energy. soaring as corona's eyes restrictions are being lifted, while inventories are stretched thin. there's been pressure on the organisation of the petroleum exporting countries and its allies, including russia, to increase supply by the group known as opec plus is failing to live up to a supply pledges. and the u. s. has released 50000000 barrels of oil from a strategic reserve in an attempt to ease the pressure on consumers or fears of a russian invasion. haven't just wild the oil market. global stocks dropped to the
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sell off with the sharpest in europe and asian markets took ahead as well. russia's main stock market has also been drunk down. and it's karen, see the rubel was weaker against the us dollar. european natural gas and power prices went up price tensions rose. well, markets rallied and prices cooled off slightly after russia said some troops near the ukrainian border will return to their bases, but they remain vala time to every twist and turn in the ukraine. stand off and not to discuss with our guests. first we go to robin mills, whose chief executive officer of command energy is joining us from dubai. very good to have you with us on counting the cost. every one robin seems to be worried about oil prices crossing the $100.00 mark. do you see this happening? i think it's yes, it's very likely. prices have been pretty close to that mark for several weeks now . they've got over 95 dollars 96 dollars, so getting very close laundered. the market remained significantly tight and you
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have the political concern for on top of us. so i think david add some significant, robust in the situation for like low cost in the future. we'll talk about the political tensions in a bit. what other factors have been driving these prices up? well, primarily, what we've been seeing is simply a very strong economic recovery from the current of ours. panoramic economies, reopening travel, restarting, and particular. a lot of industrial activity had the energy consumption and others run into constrained supply. supply of course collapse during during 2020 and they'll put it plus group was very successful and cutting back production to, to meet the lower demand. it has not been so successful in bringing that production back on line. yes. let's talk a bit more about opec plus. what can i do? what really do you think? what it's a bit tricky because you really have a situation our hope, if possible, if you have only 23 members, maybe which have significant spare capacity, which is either either the, you, i some of the rock. so every time that they announced by an increase production,
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that monthly by 400000 barrels today, which is their, their schedule demand. in fact, the actual increase is $200.00, a $150.00 or less. because many of the members actually physically can't increase production any more. so what could ok plus do what it could say we have to revise targets alive the members with spec capacity to produce more. but of course, the members who are running out of spec us the resist. yeah. but as you say sad you ravia and the you a, have a lot of spare capacity. do you think they'll be helping show up production? well, they're producing a target, it's not a problem with them, but they can't. and that they can't and won't produce over their target for that one to, to break the deal. they put together such difficulty. now later this year, by september in principal, the last production cut should've worked off. you know, then there's a room for another discussion about about where the target should go prop side the right way and a few others get allocated higher match political. so september's
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a long wealth. all right, it is a long way off. well, let's talk about what's happening now and those geopolitical tensions with ukraine . what is it stake here? do you see the prices cooling off coming down a bit? if the tensions do ease in the coming days or coming weeks, well the ukraine issue has put some pressure prices. i think not that much. funny. why not as much as you should have been. i think you're rushing constant unit situation. the war has been much more about gas, about oil. you know? yes, if there was a serious complex, you could see that i could effect all supplies. but the moment i think it's on the adding a few dollars per barrel to the price. i mean, certainly it's suggest your relax is that that will take off a few dollars just and robin. there's also the iran nuclear deal market for keeping a close eye on this deal. how critical is it 2 oil traders? what is effect prices? yes, it's pretty important, it's not a complete game changer, but if there was a deal, iran mice over the next 6 to 9 months, bring back a 1000000 barrels
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a day or. busy so of it's which production of bell so for $80.00 to $2.00 other consumers other than china, which is on the market at the moment that might drop the price by now $6.00 to $8.00 to bow. busy out a guess. so certainly makes a difference, but it's not like, you know, the, the game. all right, robin males, chief executive of come our energy. thank you very much for the moment. we'll be talking to you a bit more in just a few minutes. like you, but what does all that means for consumers and the wider economy? to discuss this, i'm joined by our 2nd guest, tim hawk. it was professor and chief economists at the institute for public policy and governance at the university of technology, sidney team. thank you. so much for being on counting the costs. so high prices we know affect consumers. what is the impact on everyday life? well, of course they price paying the highest, it's been since 2014 when they had the. ready dish and the crimea, petro, the balance is going to be a lot higher. we've already noticed that here,
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in australia, even though we produce across cells. so you know, it's going to directly affect people's going up the car. what about the global economy? what, what impact will it have on growth? does, does any country at this stage risk or face a threat of recession like conditions as a result of these high oil prices? well, not, not yet. but what's important is that russia itself is a major producer of oil, natural gas weight, palladium, capa nichol itself, would be a major supply shock from russia that would have a big impact on the global economy. then there would be, of course, a reaction to the higher oil prices that, that you mentioned in your preface, a supply shop from russia. and then any impact you'd have from ohio oil prices, given the russia, the major producer,
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the export of oil globally in its time. right. right. and what about the impact on government policies seem to bring down? do you know, the cost of living? well ultimately if you're an oil producer, ohio approx means that you'll ever base to you your revenue. so a little bit more. busy fuel rich nations will find they've got more money to pump into the economy, so that could be a benefit. but the economies that have right, dependent on, on oil want imports, energy, countries that need energy, security like korea be quite difficult. now what about emerging emerging markets? how are they going to benefit from from these rising prices? well, the emerging markets that oil project patrolling produces, yes, i said i'd say they would buy the ones that are important or. ready companion or don't have reserves, be quite quite tough on emerging markets and,
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and what's important to, i think it's the lines that germany has on natural gas from russia. if you take european union speaking of russia, do you see russia benefiting from the increasing prices? could that help it perhaps soften or the impact of sanctions if there were sanctions or they would open the short term, but ultimately would probably hurt russia the most to not be your crime. oh. but they might have sanctions imposed, but it would actually cause supplies. so the recordings basically as i have to foreigners the war, so they would be very, very bad for russia and very bad, especially poor. ready the ukraine and probably a risk to rank more be economically to roy. i interesting. thank you so much tim for talking to us in giving us your views on this. tim harker, professor in chief economy, said institute for public policy and governance at the university of technology sydney. we appreciate your time. thank you. thank you always. now the crisis in ukraine has push russia closer to his giant neighbor. china presents vladimir putin
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and changing, paying amounts of friendship with no forbidden areas of corporation as they met at the 2022 beijing winter olympics. and energy is at the heart of corporation between the 2 countries. hootin wants to diversify supplies away from europe, his nation is the largest gas supply of to the continent. russia and china assigned gas in oil deals, valued at an estimated a $117500000000.00, while sniffs, rushes, largest oil producers, signed a 10 year deal with china, cnbc to supply a $100000000.00 tons of oil through kazakhstan and gas from a great to ship 10000000000 cubic meters of gas a year through a new pipeline increasing surprise to china to 48000000 cubic meters. put in to visit to bay jane was compared to his may 2014 trip. when he signed a deal to deliver gaster, china as tensions were high over moscow's annexation of crimea. so russia is
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china's 3rd largest gas supplier and delivers it mainly through the pyro siberia pipeline. the 3000 kilometer pipeline began pumping supplies in 2019 and links east siberian fields. to ne china and russia plans to build the power of siberia to which would double gas exports from russia to china crossing through mongolia. the pipeline connects china with the same gas, feels that supply europe and would put the continent in competition with beijing. china also imported almost $3000000000.00 worth of liquefied natural gas from russia last year, and invests in russia's your mile ellen g, an arctic ellen g 2 projects. russia is china's 2nd biggest oil supplier after saudi arabia. and about 40 percent of supplies flow through the east iberia pacific pipeline. that was financed by chinese loans and economic ties. go beyond the energy supply. russia in china's bilateral trade hit a record on you'll high of more than
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a $146000000000.00 in 2021. that's far higher than moscow's overall trade with united states. but still less than with the e. u rushes trade with the block reached more than $220000000000.00 in 2021, almost $1.00 times the size of russian chinese trade or back to robin mills, chief executive officer of commerce, energy in dubai. robin, what do you make of this deal? is this a sign that beijing is willing to support russia as economy against possible sanctions from the west? i think in a more limited way than this, you know, chinese guestimate has been growing by strongly. china needs to securely supplies liquefied natural gas prices among the high the markets quite tight. so this is certainly of a challenge for china, and this is a more limited deal than the very grand plans. this is gas coming from an offshore island in russia. it's not connected to the rest of the russian system. this is gas doesn't really have a whole otherwise, it's quite
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a nice still trying to get access to gas. but without fundamentally changing the relationship with rusty yet. right brushes always been pushing for much granted. there, you know, we have to see if that will come, right. you see a limited deal, but the 2 countries say it's mutually beneficial energy partnership. how, how important is russia in securing? china is energy security? well, russia is very important as a gas exporter and an export of a particular gas export to china. china doesn't want to be solely reliance on, on the 5 natural gas coming out of the sea, which is maybe vulnerable to interruption at once on shore. land base roots both and central asia. and i'm from russia to bring in gas as well. but i think russia, china is always it's, it's just min, personally leveraging the relationship quite well and getting good prices from the russians. and secondly, never being too dependent on a never giving into the new grand schemes of the russians have. yes, i talk about a convention then ship, of course the country's work closely,
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but it's not yet the kind of grand laws and energy so that the russians might seem to be discussing to you would say that aging has the upper hand in this energy partnership with moscow? yes, i think very, very much so, i mean, russia has really nowhere else to turn. it has the repeat market a course which has its geopolitical and environmental complexities right now. and then it has a chinese market which is called big fast growing, but which is very remote in the main sources and russian gas production high. that's one reason for this deal. this, this, this gas food supplies coming from one of the few filters is relatively close china, right? before we talk about what impact they'll be on the european gas market. i want to find out more about russia. china's demand for gas is expected to increase as it moves away from coal. do you think this will make it a more lucrative market than europe for the russians? i think price is chandra, is paying say it seems from what we can tell that asked the actually significant
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below what you're paying to pay. and particularly when we include the, the long transport distances from the main gas producing areas. russia means expensive pipelines. so the that have to be financed by, by the russian side. nicole gas in china. yes, john is trying to call, but still coldest sheets are. gas has to be not too expensive to be able to compete . so price is really key. now, how will this energy deal affect european gas supplies, you think, especially as russia is in talks with, with china over the power of siberia to gas price. so at the moment this still its connecting and i, somebody failed to china, so i can difference the open market. as you mentioned, the past barrier to pipeline is the real game changed because that would connect the west side there and sales, which supply europe to china. and then rush would have the ability to switch gas from europe to china, depending on the price, depending on the politics that that would be the gotten check. and so far the chinese have held off on, on doing that. perhaps they don't want to compete to, to,
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to help me with your plans. perhaps i don't want to be exposed to her classes, but at any rate, the power of southern pines has not yet gone through. that's the thing that would really change the major scale. and then robin does the north stream got to gas pipeline, and there's been quite a lot of pressure in europe and the u. s. to block this project can germany, which is, you know, at the helm of there's nordstrom to gas pipeline projects can, can germany for dismissing the project all together. and how about russia the project brings money to his coffins as an in? yeah, i spoke problematic. i mean, look in principal, russia could continue sending guster through ukraine, which is still there and that would be sufficient to maintenance commitments that would be sufficient to supply germany for those rates, which are been used, costa, the decades. but russia has a policy of trying to bypass you, cried. germany is so far, been paid to go along with that. the current situation may change that germany doesn't proven the pipeline,
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nor stream to pipeline doesn't to prove its operation. sanctions, all that then the 2 sides will have to think again, you know, is russia prepared to return to using a lot more ukrainian transit? or would that mean severe shortages in germany and other parts of europe. and robin finally coming back to the russia, china economic ties. how big of a role does energy play in these ties between the, the 2 countries and what are the other areas of corporation between them? well then decide is really crucial. i mean, the energy supplies from, from russia to china, and that's primarily gas, but, but what is important to so that's really the, the, the case of 5 russian to china plus there's kind of minerals. this makes has been a one sided relationship because of course in the other direction go chinese manufactured goods. so i think the russians have always been somewhat so wary of just becoming a kind of a junior resource ought to china. but that is the situation that they're about.
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so it's a, it's a bit of a, i think the russian by the a bit of love balance the trading relationship. but unfortunately that's, that's with them as resources that they have to self china. robin mail, thank you very much for talking to us about this. thank you for in find robin males is chief executive of come on energy in dubai. thank you for your time. thank you. now, investing in stock market can be a very profitable business, but many people don't have thousands of dollars on hand to buy them. while google's parent company alphabet says it wants to make it stocks cheaper for investors. the company has announced the 241 to talk split, giving shareholders 19 more shares for every one they own. now this effectively means the cost of a single share has drops from around $3000.00 to less than a couple of 100. the company has published a massive earnings report with a revenue growth of 32 percent over the year that has sent the stock up 7.5 percent earlier this month. alphabets, recent decision comes almost 2 years after apple split, the stock reviving
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a practice that almost disappeared from us markets, alphabet and apple, or among the few technology companies that have seen their market capitalization stretched into trillions of dollars. but facebook is in decline for the 1st time in its history. its parent company, metaphors has said the social media platform last uses for the 1st time since it was established 18 years ago. falling by around half a 1000000 uses in the last 3 months of 2021. metters talked by splines, more than 26 percent earlier this month, wiping out more than $200000000000.00 in its market value. now let's find out more about house talk splits affect investors. joining me is neil wilson was chief markets analysts at markets dot com, joining us from london near. very good to have you with us on counting the costs. so why did alphabet split it stocks? is it just about attracting more investors? yeah, there's several reasons i can relate my current thoughts. but i think one of the
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name one more retail investors, it becomes pretty affordable when they're stock dollars. and by splitting it you, you reduce existing care holders. holdings grow. you can of course, just in general in a big retail activity and there is the option of good income shares. it still remains more appealing, individual whole share, right? 11 percent more potential investor base. but also you can encrypt the credit union case number as you can and also
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back it up one i or the happen i on on to be included in the value of each individual stock from 350 dollars. you become much more in the, in the range that can be so is it a good buying opportunity because we so companies like tesla and apple see their share prices, serge after this phone split in 2020 it. is it a good buying opportunity? well, the thing is that it shouldn't be, it should make no difference whatsoever to, to the price because you are increasing the number of potential increases your roll demand. so it could be a good time to buy. i think, you know, there's a lot of retail frenzy around some of the stock setting apple and i don't quite alphabet like this in back have to be sent me. we have seen there's go. ready up in value because us over those examples of those levels in the stocks go up and buy it
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because it stops. and therefore you can see a potosi institution versus hedge funds from running. so moving already is a bit of a tricky one because i say that you better stick to the theory that you mean so now interesting, the practice had disappeared in the us all but disappeared in the us. why? why is it back now? neil? is it related to the fed decision you think, to, to increase interest rate? why do you really signed a lot of these companies? you know, the very lowest celebration in so prices last few years. so companies will not long ago, the apple. ready that we made a big so many companies retail. that's a huge capital appreciation and their stock price is going up right. massive in the number the companies where, you know, they were taking in a couple $100.00 region not that long ago and suddenly thousands of dollars. i
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think it is a mistake increasing and companies don't like the stock to be too too expensive. so, i mean, let's talk about facebook schools now. neil, i mean, the number of uses down why, why are people increasingly leaving facebook? is it about, you know, younger people not being, being interested in it or they other factors a play? yeah, i think people just the next day thing, i think the company brands that you know, was trying to appeal to the next big thing on the young people generally i think a local competition both these days, the streaming. ready services as well. you told you it talks about tech talk competition. so you could say competition with netflix, things going on? well, what about facebook troubles?
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i mean, you know, the use of private use, the data and accusations of facebook being a breeding ground or for hate speech. how, how did that affect you some numbers? yeah, i think i think people, i think the general general sense that facebook no longer necessarily to get people who might stick with a provision to other platforms. people do it all together. i think you just saturation globally as well. neil wilson, thank you very much for talking to us. neil wilson is chief markets analyst set markets dot com. thank you. and that is our show for this week. get in touch with us by twitching me at 40 bye a. j. e. and do use ash like a j ctc when you do or drop us an email counting the cost that al jazeera dot net is our address. there's more for you online at al jazeera dot com slash ctc. don't take you straight to our page, which as individual reports, links,
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any tie episodes for you to catch up on. and that is it for this edition of counting the call some fully back to mo, from me, in the whole team hearing doha, thank you for watching. the news on al jazeera is mixed. ah, ah gotcha one of the fastest growing nations in the way. ronnie, cousin needed to oakland and development, whole international shipping companies to become a teen, middle east, and trade and learning skillfully enough free is of develop,
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filling up roman, connecting the world, connecting the future. ronnie, casa gatos gateway to whoa trade. ah, separatist leaders in don yet can lou hands could plead for russian assistance to repel what they call ukrainian aggression. ah, hello, i'm adrian again. this is al jazeera live from doha, also coming up. ukraine's government imposes a state of emergency and calls up army reservists to bolster troops. numbers along the border with russia. the 1st wave of european sanctions against russia, members of law house of panama, targeted.

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