spending. after another fatal accident china and other nations brown the boeing seven thirty seven max as best gaiters try to figure out what happened in ethiopia analysts asked how badly boeing's order book will be affected. also the u.s. is poised to become a net boil exporter by twenty twenty one so what does that mean for global oil production and prices take a look. i'm stephen beard zimbalist thanks for joining us. u.s. transportation secretary elaine chao said monday the u.s. regulators are very carefully reviewing the fatal crashes of two boeing seven thirty seven max eight jetliners the sunday's deadly crash of an ethiopian airlines flight is the second in only

a few months for the model and it killed all on board the incident has also hit boeing stock badly its lead ten percent of monday trading wiping nearly sixteen billion dollars off its market value and sending the dow reeling this as an increasing number of countries ground the airline or. the ethiopian crashes the second involving a seven three seven max eight after lie in a plane went down in indonesia last october the latest crash could mean a huge setback for boeing the plane maker has delivered about three hundred fifty seven three seven months planes to scores of ellens with orders for more than five thousand or the seven three seven it's absolutely essential to boeing is the backbone of the company's cash generation and profits and it's also the backbone of many airlines operations around the world you have a seventy seven taking off somewhere in the world every few seconds it's absolutely essential to the future of the airline industry and the future of boeing and the

market is down heavily today reflecting in festus concerns about. the recent previous one at lyon that means for the company and its profits boeing says the investigation into the ethiopian airlines crash is in its early stages and it sees no need to issue new guidance to seven three seven x. eight operators based on the information it has so far. let's bring in our financial correspondent new york jose luis de haro jose how seriously does boeing have to be taking these groundings. they should be a big concern sends a single aisle seven three seven marks a count for almost one third of the company's operating profit i need to generate about thirty billion dollars in annual revenues or any kind of problem related to this model is going to take a toll. on trees like china indonesia and if the o.p.'s decided to ground these airplanes here in the u.s.

airlines seems to can see that a seven three seven might say it's still air war three waiting though for a four month conclusion from the federal aviation administration meanwhile investors believe that the similarities between d.s.t.o. peon airlines. are hard to ignore and that's why boeing stock suffered its most significant loss in some tolbert twenty nine and that's for now and i'll point out that it may take weeks for an initial report on the causes of the crash so they seem kind of reluctant to conclude the possible impact of operations so far. maginnis is also difficult for the airlines that are affected by this grounding that are or that are choosing to do these groundings do they have any alternatives in this case the seven thirty seven max. it is a sea of in a sense and not only are losing money from the ground there are seven three seven airplanes had but also safety concerns could take a toll in passengers say confidence as for now some experts are talking about potential substitutes to the seven three seven mark said let's not forget that

boeing has over five thousand orders sold these models so far among suggestions the airbus three hundred twenty neo seems to be the better and well known alternative to the market so far so airlines might be small in the near future even if seat capacity and full requirements are not as appealing to airlines seven three eight seven state of the gobi he was eludes the hero there for us in new york thank you. the u.s. is poised to become a net oil exporter in twenty twenty one that's according to a new assessment by the international energy agency and it's likely to continue the global shake up in oil production it was actually the glut of shale oil in markets that sank the price of a barrel in two thousand and fourteen for more than one hundred dollars to almost twenty six dollars in two thousand and about two thousand and sixteen before rebounding to his present about sixty something dollars. that's still

a difficult price for many drillers to make money but the price drop only slowed production and one of the us is biggest shell areas the permian basin in west texas why because drillers there become more productive and more efficient with better technology their so-called break even price for new well has therefore fallen significantly allowing american shell drillers to make money after about fifty dollars a barrel saudi arabia by comparison needs a price of around eighty to eighty five dollars a barrel to make it work it's that difference that striving the surge of u.s. oil and global markets. the international energy agency says the u.s. will account for two thirds of the increase in global oil production over the next five years rising u.s. shale production was one of the main drivers in the collapse in oil prices in twenty fourteen from which the oil industry is just recovering to bolster prices opec russia and other producers agreed last december to reduce supply by one point two million barrels

a day from january to june this year. that's had only a limited effect on opec countries currently pump sixty two million barrels a day that is likely to rise sharply by about ten percent to sixty eight million by twenty twenty four opec's output is about half the thirty one million barrels a day it's expected to grow slowly to about thirty three million barrels by twenty twenty four. the i.a.e.a. says demand for oil based plastics and petrochemicals will feed steady but slower demand growth with no peak in sight travel is the other major growth sector thanks to rising incomes in developing countries and an increasing number of airports and airlines especially in asia china and india will account for nearly half of the global increase in oil demand by twenty twenty four. and over to asia now it was eight years ago that an earthquake triggered the tsunami the lead to a nuclear meltdown in fukushima japan the operators of the plant are still trying

to decommission the reactors but they will take decades a sizable chunk of the surrounding countryside remains off limits but not all of it . the guests have a rived in fukushima they've come for an eco friendly home stay at local farms in the west of the prefecture the tour rep tells the travelers that not only can they expect excellent treatment from their hosts they don't need to worry about radioactivity either to young americans coming to stay at the home of mr or mrs koussa gnocchi it's a ray of light for the village after years of darkness not many people around here can live off agriculture anymore prices for vegetables from fukushima have hit rock bottom even though these fields are one hundred forty kilometers away from the wrecked reactor and shielded from it by a mountain range so far away but ever present nuclear power station operator tepco gave this german t.v.

team exclusive access to the devastated palace stations grounds tepco wants to show the world it's in control but they react to containers is still full of melted nuclear fuel rods altogether eight hundred tons of extremely radioactive waste more even than inch and nobble tepco wants to extract the hot slag over thirty to forty years how exactly the company when say and it will be a world first if it comes off. the cousineau keys however insists that radiation levels around their house a normal. the farmer tells his guests that he can only sell vegetables when the name fukushima doesn't appear on the label around the world it only stands for one saying. so my parents when i told them i was going to sheen or they're worried about about nuclear exposure. but having this opportunity and seeing how

the people here are thriving it makes me makes me i guess again fresh not that i'm very excited. because you know keys don't show indoor arrives with their grandchildren it's almost like it was in the good old days before this somehow to leave home to find. so far away that ever present fukushima is on. now to some other business stories making news around the world the boards of two of germany's biggest lenders georgia bank and comments bank are expected to begin talks about a possible merger both are looking for relief after a tough decade a tie up between the two could have major implications for the european banking sector. a two point four percent drop in economic output last quarter had had turkey officially sliding into recession the economy stumbled after liras value plunged by thirty percent the news comes at

a sensitive time for president russia. as turkey gears up for local elections. worldwide imports and exports of combat arms have risen by seven point eight percent over the past five years that's according to a new report by swedish research institute sipri u.s. tops the list of global arms dealers providing at least ninety countries with combat aircraft short range cruise and ballistic missiles and guided bombs. a thud if global defined is came from the us. russia takes second place with one fifth of global arms deliveries that's even though russia's weapons exports have declined the result of lower demand from india and venezuela says sipri france and germany come in third and fourth respectively jam and ships and submarines of particularly popular with south korea greece and israel. china too is a big player when it comes to arms exports it takes fifth place. meanwhile saudi

arabia topped the list of imposes its imports have increased by one hundred ninety two percent over the five years may need you to the conflict with iran and the war in yemen. and that's it for me in the business jim i'm stephen burns in berlin thanks for watching.

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