businesses which really rely on affordable fuel costs let's drill baby drill sorry into this issue with tyson quote cloke i'm the director of public citizen's energy program tyson thank you again for being with us it's always my pleasure so tell me how has this impacted this cut opec in the other countries how has it really impacted prices or has it since they agreed to it about a year ago you know not much it's really just a couple dollars a barrel and you know last night we saw oil prices go down two percent after going up a couple dollars right after the announcement the fact is that opec isn't as big of a deal anymore yes they can announce taking one and a half million barrels of oil off the market but the real drivers right now are what's going on with consumption and the biggest question marks there are what's going on with the chinese economy is it going to grow or is it going to contract and of course replacing gasoline powered transportation with electric vehicles and

other alternative forms of transit that's really what is threatening price as more of an opec cuts you know what used to be that every gotten tiddle that opec did anything that they did really did move prices but do so many other large energy producers in the space the u.s. of course and russia and russia as part of this deal with opec i mean how can we are they as part of keeping the production flow down a little i mean without russia opec would be completely irrelevant and it's really important to note that there's two countries on the monitoring committee for these production cuts it's russia and the saudis so opec is kind of this ragtag group of countries there's a lot of countries with some economic and political upheaval going on and so there's questions about whether or not there's going to be integrity with some of these pitches and goals on the production cuts and even within russia there's.

there are some russian oil producers that don't want to see these cuts because they want to make money as much as possible so. you know and since one thousand nine hundred two. opec has had a ninety six percent cheating rate on its stated production targets and so there's a lot of opportunities here for countries within opec to cheat on these targets and i know for that that first year you know this this year that were currently in there were these issues because you know iran was still below production because of the sanctions and they wanted they didn't want to be stinking caps and other nations were also wait give us time to ramp up but now at least theoretically they're all supposed to be with with within these caps so oil just closed today at fifty seven fifty seven sixty right so it was about a year ago when this agreement was put into place it was something like fifty two bucks so it's really only up five dollars and we've just been north of fifty five i

don't know if six weeks or something like that it hasn't been that long what does this production cut this one point eight million barrels mean for u.s. energy i mean are we essentially just filling the void created by this reduction by opec and russia and others i think so i mean there's no question that the fracking boom in the united states since two thousand and seven has been revolutionary you know it's turned the united states into a oil superpower and then in two thousand and fifteen when the republicans and president obama lifted the oil export ban we're now seeing record levels of oil exports and refined product x. we're now it's a net exporter of oil as of the last several years until before that we had been right right right and so there's no question that some of these u.s. dynamics are a big part of this but make no mistake the big thing that's going on with global oil. markets is issues with replacing the gasoline fire fueled internal combustion

engine with electric vehicles and with mass transit in the meantime though improving fuel economy standards are a huge knock on on growing oil consumption we estimate that over the next decade or so more than eleven million barrels of oil are going to be taken off the market due to commitments that countries like china of the united of a million a day right through because of improve fuel economy standpoint eleven million a day is a huge number when you consider i don't know the exact figure but that we produce about ten million barrels per day so essentially you're saying the amount that we produce every day would be taken off the market by electric vehicles would globally globally but still mean that the comparison is still key so we should have you back to talk about some of this in more detail but let's talk a little bit more about the dynamics in the u.s.

energy industry right now what's going on in the aggregate i know in the balkans we're we're we're drilling there are more and all these new and innovative ways but you know how is the u.s. energy sector doing i mean it's doing pretty well i mean we're we're going to see a continued mergers and acquisitions you know low oil prices don't just hurt the national economies of russia and saudi arabia they hurt the bottom line of major oil producers in the united states so what you're saying is a wave of mergers and consolidations so you're going to have even fewer major players operating in the bokken up in north dakota and the eagle ford down in texas and that's going to make them financially more secure going forward to weather what might be a rocky road for oil prices so if we say that opec and russia and others are cutting we're filling that gap if the supply and demand equilibrium is roughly remains the same nothing should happen. will the demand increase next year one of

the experts over in paris the other place saying about demand going forward i still see demand as is being relatively flat but i think that the big question mark is china you know china several years ago was the reason that we had huge speculative driven increases in oil prices as the chinese economy was growing at more than ten percent a year and gobbling up lots of oil the brakes have been put on the chinese economy and expertly growing at six percent right right. take it exactly and so it's really unclear we need to get more information about how the chinese economy is going and see how that's going to impact oil prices so how is asked to a two part question how are these prices which are relatively affordable in the u.s. impacting u.s. businesses and then i want to ask about consumers and family so businesses rely on this to what extent oh it's still huge you know the average regular gasoline price

united states is around two dollars and sixty five cents a gallon and for most consumers and business is that's a bargain and so when you've got low fuel cost inputs on your household on your business you know it's like a big giant tax cut and so. cheap energy not just in the transportation sector but the electric power sector right yesterday the wall street journal had a great article about how the u.s. electric power prices are at record lows being driven by cheap frac natural gas and renewables and so americans are enjoying a bounty of access to cheap and increasingly sustainable energy which is a big change from years past and these businesses and i mean whether or not a delivery services or people moving goods to consumer goods all across the country or even airline tickets for those about to make a trip during the holiday season these affordable gas prices are a good thing where the cheap prices cheapest. in the u.s.

where are they most expensive or the cheapest for gasoline is in the gulf coast the united states so from texas to louisiana to mississippi they would be fine a lot of the problems actually most expensive is california and that's really even though california is still a big oil producing state with a lot of oil refineries but they've got a lot of environmental standards and clean car standards that raise the price of. gas so in the gulf coast it's around two dollars and thirty five cents on average in california it's about three dollars and ten cents out it all has to do doesn't it with how far you are away from where the oil is produced oklahoma which is always low cost because that's where cushing is where the congress has delivered and then state and local taxes so that can impact the price a lot for consumers tyson slocum director of public citizens energy policy thank you again for being here really informative always helpful great thank you. time now for a quick break but stick around because when we return we'll find out wired japan

may be benefiting from the g.o.p.'s new tax bill plus a curious exchange commission's new cyber unit is investigating a multi-billion dollar scam alex mahela visual joins us from toronto with the latest go to break here are the numbers the closing bell. backstabbers financial survival guide. housing bubble. oh you mean there's a downside to artificially low mortgage rates don't get carried away that's cause a report.

they call me a useful idiot i mean you called me a useful idiot a useful idiot useful idiots go expressing my opinions on the first two sins of us doing it behind his record is the same strategy we attack persons instead of talking about the org what's next why stop me from getting this close to the white house i'm with a group code pink why not ban the color pink one or scratch below the right i should be sent to the town one because i want to try to break me on the wheel but out with a long time of this sort of nonsense you don't scare me and i'll continue to voice my opinion i'll continue to speak out in good company i'm in good company you're going to see me and you want me to because real friends think.

i'm done son is not is not i can quit place is not a good country and children are just a kid but show me this there but i'm not as well above the stones. as existed at the rest of the so this is. the statement that the church. of the cult left for the from the secular suggest calling in just for the embrace from the from the muslim of themselves to be the atom. the scales on the stones for. play almost anything for the members of the base the gnostic and our right that are john said i'm based on my show last night no one can i do not believe that i will write this from happening tonight i had on the money to. run the show it cannot. change

the fucking on the can i leave you some honest you are now with the fuckin on the. let's do this or turn this on enough i was going to show you go to sleep i don't want to go to the snooze and then i can't. boyce's in this or do whatever to sleep . that's a snowmobile i got to go to a lot of this. this was about. the united states isn't the only country paying attention to the u.s. senate's tax reform bill companies such as tokyo marine holdings one of the japan's largest and oldest insurers is looking to cash in on the potential overhaul of the u.s. tax code or the past few years the company has spent billions of dollars acquiring various u.s. insurance assets which now ranks the company among the top ten non-life insurers in

japan tokyo marina holdings also announced recently that they. they have a deal to buy a i g's medical stop loss insurance business with the us tax bill set to set to cut corporate rates from thirty five percent to twenty two maybe twenty percent to kyle marine could lower their tax burden by more than two hundred seventy million dollars this is expected to help them offset more than five hundred sixty seven million dollars in losses from their u.s. sanity's due to the hurricanes that hit florida and the caribbean earlier this year . and speaking of hurricanes well hurricane real left devastation in its wake in puerto rico and other caribbean islands the caribbean real estate market is still active while many deals have been delayed in the areas hit hardest by the hurricane and the commercial and residential property has been recovering much faster than anticipated many investigate and best years are headed back to the caribbean

islands due to their lure of low prices sellers are cutting prices across the board attracting buyers looking for cheap deals according to a local real estate broker a house that once sold for three point five million dollars this summer is now up for sale per one point nine million others are hoping that disaster aid will spark an economic boom which will help the region that said there is still significant risk while you has to seen its real estate market recover puerto rican property has remained low due to the virus scares her cambridge of course and the government's latest the fault on its billions of dollars of debt. it seems every week we're hearing about yet another sex scandal involving a high profile man in power without a doubt these scandals have rocked the media entertainment politics and technology industries and while this type of behavior isn't anything new in the country the outcome and swift results in many cases are definitely a turning point r.t.

correspondent ashley banks is here with the details according to a twenty six thousand report by the equal employment opportunity commission eighty five for. when a women have reported being sexually harassed at work whether these women worked in media entertainment politics task or something else they've either quit or left the industry because of the abuse they faced but that's beginning to change let's take a look at a couple of examples where accusers were fired from their positions today show host matt lauer was paid over one hundred million dollars by n.b.c. news over the course of his career before he was fired for an appropriate sexual behavior in the workplace lauer was among one of the highest paid a host on television pulling in twenty five million dollars annually before he was terminated. his terminations comes at a time when the today show has been the top rated morning news show among twenty five to fifty four year olds for the past two years however that is starting to decline according to nielsen total viewership for the program is down ten percent

however the today show is generating a lot of revenue just last year the show generated five hundred eight million dollars in advertising and the lauer case it's not known if his removal will financially impact the network at this time and the b.b.c. is tasked with finding a replacement for allow or to ensure the network doesn't lose viewership to its competitors recently netflix house of cards star kevin spacey was accused of sexually assaulting several people shortly after the allegations surfaced a media rights camp at all which produces the show in baltimore maryland for netflix and then also will be filming its six and final season without speed c. spacey will be replaced by robin wright this season will only feature eight episodes which is much shorter than the thirteen episodes the series usually and klute flicks plans to use original content in the last season costing the company between seven and eight billion dollars that's of billions of dollars from the

previous seasons now according to the maryland film office first season one the company received a tax credit of eleven point six million dollars eight hundred maryland businesses were involved in close to twenty two hundred marylanders were higher the economic impact was estimated at one hundred thirty eight million dollars first season two the company received a tax credit the fifteen million dollars two thousand businesses benefited from the production then more than thirty five hundred marylanders were higher the economic impact was estimated at one hundred twenty million dollars and for season three of the company qualified for a tax credit of up to fifteen million dollars the estimated cost and economic impact were similar to. season two now that spacey has been fired for sexual allegations it will cost the company billions of dollars to film a final season and b c and that flicks are among the many companies like fox news

and n.p.r. were felt the financial end pact as a result of key players being accused of sexual allegations. nationally that so such a great report thank you and you know it makes me think about the when you mention the executive travis kalanick you know when these leaders of these companies leave they have to have what we used to call in government a coop plan which is continuity of operations mean you need a plan to figure this stuff out otherwise as you say it could cost them a lot of money and do you know in provinces case it's because he there were a lot of sexual harassment allegations against him and forced him to resign earlier this year and experts are saying the value of hoover is not the same now that he's gone now according to experts places like hero price and other mutual funds they've slashed the value of their stocks and when it comes to our vanguard vanguard had seven point five billion dollars u.s.

growth fund that owns shares in hoover and they've selassie their stocks by at least fifteen percent now experts are saying you know while some investors they haven't touched their stocks others have but this is as a direct result of travis's resignation you know. i like to see these folks go down but i want to see some of these businesses survive and join robin wright who do a great job she she won a golden globe for this role and even though it's a shorter season it will be fantastic ashley banks thank you so much you're welcome . u.s. series exchange commission's new cyber unit has jumped into action for the first time charging it a target in a national coin offering an ice c.e.o. by a canadian company the company has reportedly raised fifteen million dollars from the

thousands of investors they have solicited promising big bucks and less than twenty nine days but the f.c.c. is calling it a scam artist alex mahela ventures and toronto with the latest alex tell us all you know when it comes to financial tell technology right now i see those are one of the hottest topics out there what happened in this case to get the f.c.c. involved you know we've all heard of big codes but have you heard of plex coins because i sure as heck haven't until now but fifty million dollars worth of people did there and so they were investing in this thing called plex coins a guy by the name of dominic la qua he was heading a company called plex core out of call back canada and he got some people to invest obviously well the f.c.c. jumped on that very quickly and they realized something was happening here that wasn't one hundred percent kosher so they took this and filed it in court in brooklyn new york you can be sure that the canadian government cooperating with this quite tightly but so this is basically what happened so they say that this is

just a major scam they're alleging that look quiet plex corp that is the sole securities called plex coins on the internet to investors in the u.s. and elsewhere now this is very important security so we know that the f.c.c. basically took this type of crypto currency back in july and needed to fishel that these could be looked at as securities so this is where this all comes into play now here's the scam this guy was saying that within twenty nine days that you could get a one thousand three hundred and fifty four percent profit from your investment that's very precise but that's why. it was promising this is what the f.c.c. had to say though about this whole ordeal there's grubber cohen he's the chief of the cyber unit at the f.c.c. saying that this first cyber unit case hits all of the characteristics of a full fledged cyber scam it is exactly the kind of misconduct the unit will be pursuing we acted quickly to protect retail investors from this initial court offerings false promises so mergence a court order against the founder and

a flex core brand as well as the founder of go for it was involved in this so banks bank accounts are frozen what the f.c.c. is hoping to do that a lot of these transactions were done through credit card so they're hoping to get some of the money back to the people. also another big player here was pay pal pay pal three hundred eighty thousand dollars worth of the transactions went for that for through that company and they were able to stop a lot of these transactions from happening they smelt a rat and they were right. you know alex when you when you talk about you know they they promise this precise amount of income and in a certain amount of days i i wrote a book several years ago when i was in government puns ammonium how scam artists are ripping off america which which you can get online it's free it's not something i make money off of but one of the things that i tell people is if there's some time constraint you field an do you feel unduly pressured be very careful and

nothing is without risk and there are good i see those going on out there and there are bad i see i suggest be careful about any promises but elegy we haven't spoken about bitcoin but i'm curious could you give me your thoughts from from up north on what you think is happening with bitcoin and your feelings on it oh i'm angry about bitcoin because somebody told me a couple years ago to buy it at three hundred fifty dollars and i didn't so i could be a one wealthy man so look now we're sitting at just under twelve thousand dollars per bitcoin it's really one of those things where you're getting to be very polar opposite ideas about what bitcoin is and what bitcoin is going to be. professionals or i should say experts out there that are saying it's just a scam it's a pump and dump situation just like what we saw here with this crypto currency that we're talking about even if it's gathered so much momentum it's still there's a possibility when something rises so quickly it could come crashing down but on

the other side of the printer spectrum you're seeing people getting involved you talked about earlier in the show about two exchanges saying that they want to do something with this and move it forward to to create to make it more solid in the whole financial scheme of things so that's a possibility there's countries in this world that actually look at bitcoin and they've made it into a currency that they have made as a currency on par with anything else on the face of the planet but still this is something that an tangible bitcoin is being used for purchases like buying this crypto currency that we're talking about today if you don't see it really being used to buy cars or or houses. anything at that level yet but if that happens well you know what bitcoin might be here to stay and these other ones well that just kind of go away especially when you have a scam situation with the one we're talking about today thank you alex r.t. correspondent alex mahela vision trial thanks for joining us that's all for now be sure to catch boom bust on you tube you tube dot com slash boom bust r.t. see you next time.

with gold make this manufacture consent to step into the public well. when the ruling class is protect themselves. with the flame of merry go round the sun be the one percent. we can all middle of the room sick. and is getting international recognition with the help of israel at least in the world of zoos and builds the commission to do it like it is this is my compass he is going to have the study hall maybe. john does.

the only palestinians who gets the most help from his jerusalem counterparts i don't think there's some of those who were under the vision to know who could do this. and that is the office that is the heart of this lady of the most of that you have i know you compete in the doesn't seem to do more. the company's own. backyard. it's a. wonder when they hit a car like this it is. in the mood to call.

this a rogue reserve in your eyes following them in the mall riminton. is from another from the u.s.s. iwo jima looking on they want us and the feeling. of those. so. i thought that. they could be a useful idiot i mean you called me a useful idiot a useful idiot useful idiots go expressing my opinions on t.v. there's thousands of us doing it behind his record is a simple strategy with the type of person instead of talking about the org what's

next why stop me from getting this close to the white house i'm with a group code pink why not ban the color pink one outstretch dildo right i should be sent to the town of london because i'm going to try to break me on the wheel but out with a long time of this sort of nonsense you don't scare me and i'll continue to voice my opinion i'll continue to speak out i'm in good company i'm in good company you going with me you want to do this because we're free thinkers. about your sudden passing i've only just learnt you worry yourself in taking your last bang turn. your attitude up to you as we all knew it would i tell you i'm sorry for me i could so i write these last words and hopes to put to rest these things that i never got off my chest. i remember when we first met my life turned on each other. but then my feeling started to change you talked about more like it

was a cave still some more fun to feel those that didn't like to question our arc and i secretly promised to never be like it said one does not leave a funeral in the same as one enters the mind gets consumed with death this one quite different i speak to you now as there are no other takers. to claim that mainstream media has met its maker. whenever you believe russian products. your not just get a good quality. to the little bit of those who. feel the special.

parties headline news the international olympic committee bans team russia from the twenty eighteen winter games after a three year doping scandal despite a lack of concrete evidence to support the claims of a state sponsored drug program. these in why did elsley so will fall to super eights between individual or team competitions. under the name olympic elsley from russia. recent deadly terror attacks in the u.k. could have been faulted by security services according to a new report from the government. also ahead the u.s. president is expected to recognize jerusalem as the capital city of israel a move likely to ignite fury among many in the middle east.