it would be a great strategy for them is to have prices stay around seventy bucks and then when they go to the i.p.o. then have really an increase in oil prices along with the i.p.o. but given that we have you know the says that we the u.s. going to produce ten point six million barrels of oil per day this year about the same as saudi arabia and we may even overtake russia by two thousand and twenty three do you think that any cuts will ultimately just be out produced by the u.s. absolutely number two number two will produce are right now in the world as us you've got canada coming up brazil so the non opec producers are absolutely going to make up for that what's interesting though is that glut narrative is absolutely off the table even with the u.s. at absolute almost call historic production levels at the moment we haven't seen these production levels since the seventy's so i think that with the glut narrative out of the way the idea that we're going to see higher demand in the next three to

five years the u.s. being the number two produced in the world set to actually overtake the saudis within about three to five years as well that's where this news becomes very interesting and i think a lot of that is going to be taken you know with whatever opec may take off line whatever we might lose to sanctions with iran to sanctions with venezuela the u.s. is obviously going to keep up with that let me just ask you real quickly we're running out of time but do you think the saudis have some sort of grand strategy about sort of you know co-opting people around the country whether the run the world rather the u.s. or russia they announced this thirty billion dollar infusion into port arthur texas into that refinery do they have some grander strategy with the ram cohen everything else going on here. that's an excellent question i think saudi's problems are much larger than even right now people are talking about because when you look at the market share they're losing to their largest you know accounts think of china and

think of india and the increased we're seeing russia supply india was seeing russia supply china same with iran saudis problems are far larger than the shale drillers here in the u.s. but when you add the market share they're losing to china and india along with the output in the u.s. they've got a huge one two punch that they're dealing with and so far i don't think their grand plan of driving prices lower to keep shell off line is working because the shale prices when you look at two thousand and thirteen to twenty say eighteen now it's cut in half the cost the shell producers are having to bear in fact they're going to be profitable for the first time ever so the saudis have plenty of struggles ahead we'd love to have you back with just barely scratched the surface but we're going to drill down deeper futures and currency expert at simpler trading horner thank you for your time. thank you. time now for a quick break but hang here because when we return we'll look at the trumpet ministrations new sanctions that we mentioned earlier outlaw we are going to

actually talk with todd shipley that's what we're going to do get ourselves right here and we're going to talk to him about artificial intelligence and the defense sector the pentagon is seeking out some relations with silicon valley as we go to break here the numbers at the closing bell facebook's trouble with data protection dragged their stocks down as much as eight percent earlier today and the broader tech sector was weaker as well red arrows across the board for stocks dow closes twenty four six eleven oil sixty two twenty nine and fifty point eight eighty three eighty one as we went to air. join me every thursday on the alex simon sure and i'll be speaking to guest of the world of politics school business i'm show business i'll see you then.

when he was fourth and most probably last term is russia's president vladimir putin has six more years of fashion his legacy. changed russia oh no you continue to. the far right than britain isn't just on the march it's taken violent mother's action i know quite a bit of a dog and i see these organizations which are all usually split into which we feel different names how do you view that. complex web of which are the.

same wrong. roles just don't all. get to shape out they become agitated and engage equals betrayal. when so many find themselves worlds apart. just to look for common ground. this is a busy week for the u.s. government as lawmakers will have to take legislative action to prevent yet another government shutdown when spending authority expires this coming friday the twenty third of march while neither side is eager for another shutdown congress must

decide still whether it or how to address differences that include spending on military infrastructure as well as those dhaka dreamer's that program that granted status now uncertain to immigrant miners on the issue of opioids earlier today u.s. president donald trump unveiled a plan to combat the opioid academic the plan aims to reduce oil prescriptions by one third over three years and also calls for reducing the threshold for opioid criminals to be eligible for the actual death penalty mr trump also asked for congress to allow medicaid funding to be used for residential treatment for opioid addiction and in related news federal prosecutors in new york charged five doctors with accepting bribes from insists therapeutics in exchange for writing more opioid prescriptions than were called for the indictment in the southern district of new york says the doctors were paid to prescribe a nasal spray application of the drug subsystem which is said to be fifty to one

hundred times more potent than morphine. the chinese parliament has chosen a new chair of the central bank u.s. educated economist yang prior to his new role mr yeast served as deputy governor of the people's bank of china since two thousand and eight his appointment is expected to continue reforms to the chinese economy supported by president xi jinping the chinese central bank is not independent from the government or the chinese communist party like many central banks such as the us federal reserve the european central bank or the bank of england. and mexico's former first lady has thrown her hat into the presidential ring lawyer margarita zavala the wife of former president and ricky calderon was certified as a candidate on friday after electoral forty says she's filed the needed number of signatures savalas husband was selected as the nominee of the conservative national action party or pan but the follow will run as an independent challenging the pan's

nominee ricardo in iowa who is currently running second in polls behind leftists and race manual lopez obrador are. as most of us know the trumpet ministration released a budget plan earlier in the week it calls for an increase in defense spending of one hundred ninety five billion with a b. dollars over the next two years how are defense dollars being spent in the united states we turn to former senior pentagon official michael maloof for the answers michael thank you for being here where does the billions and billions and trillions as was spoken about in the past where's the money go it's going to be going to some of the largest defense contractors we have and part of it and i think it's all linked in with the need to create more jobs and these industries such as raytheon boeing and we can go through a hole that will hit me with

a us ones where when you talk about defense contractors so you've talked about raytheon and but i'd always there's lockheed martin boeing even be a east systems raytheon general dynamics northrup grumman that are making our new supermom or us. and and on and on it's three is another one that they are they are all over this town for the for the for the people who don't know if you go really within ten minutes of here just across the river into arlington virginia is boeing and they are walking distance and not a theoretical walking distance they are walking distance to the pentagon and if you go right down three ninety five maybe two miles from here there is the lockheed martin building and they are maybe not walking distance because there's an expressway but they are within a mile of a u.s. capitol so the defense industrial complex is looms large in this town

and given what we've seen in this increasingly complex world you don't see these budgets going down any time soon. they were down for a time i think they're going to be going back up and i have a suspicion that that's why the secretary of defense maddest decided and trump decided that in order to create more jobs for example we just did that hundred billion dollar deal with the saudis that's for aircraft that's for arms and i mean it's going to not only for our own defense purposes but that money is going to be coming in from outside sources in order to help fund all of these and then export everything and it's going to be monumental and you got to keep in mind these companies as you point out are every every where they've got even the services that what their pet rock projects are up on the capitol hill they are a lobby and believe it or not they're pushing their their agendas their programs in addition to the companies themselves it's going to be it's going to be even more

robust now that. madis has and trump have increased the defense budget and and you've got to tie that into also with the call by trump now to to improve upon nuclear weapons to improve to have a more strategic approach and that's what the big companies do they do more of the strategic weapons systems and that's what they're going to be needing i want to let our viewers in on a little secret i'm not sure it's a dirty little secret but it's a secret about how work gets done in here and maybe you could comment upon it work gets done and. in washington is that so you have a defense contractor who may make something and i don't want to pick out an individual company or a byproduct but say they make you know cool glasses that can you see around corners or something well they'll have one part made and somebody is congressional district in another part made in maybe another state and they do that for what reason

michael well every major defense contractor think strategically themselves they'll put some component of some kind that comes into for example like the f. . thirty five you have the plane that cost how much it's up it's going to be a trillion dollars by the time they get done and there have been all kinds of technological problems with it and they still haven't ironed out all the bugs it was a bit donald douglas no that's lockheed martin lockheed martin ok lockheed martin the and i already said while it's already doing it united technologies makes their engines and so there they'll put components companies that supply the components and every state of the of the union and order to make sure that their congressional district has something there so that when they come in for funding the pressure is on congress to allow that money to go through and so it's going to be there's going to be a rise of that we're going to see an increase of that and it could be a whole myriad of systems and these companies rely very heavily on defense dollars for for their for their income. lockheed martin.

boeing they were upwards of over fifty percent reliance on government contracts g.e. hundred forty percent really is oh my gosh if so so is very high depending upon the companies and they have outlets in every state of the union in order to gain that couldn't get in order to get that congressional business of washington folks for better or worse a lot of times it's worse but it does keep our nation strong. now michael let me ask you you know back in the day we all heard about the four hundred dollar hammers and the waste fraud and abuse has that gotten under control through the inspector generals and another mechanisms that dio diers are still problems i think there are still problems the problem that we've been seeing is that there has been no auditing that's been going on with how defense monies are being spent i think one

point eight billion disappeared nobody knows where it went recently it's and nobody is expressing alarms over where that money is going. but there was a rush to increase the budget no accountability and a lot of this has to do with the pyramid process you have you also have contingency funds that these funds will flow into in order to in order for the congress when they go up on every quarter to ask for supplementals. well they haven't had a budget in two years so now this is going to increase with these supplementals and you're going to see that go skyrocketing last question michael i remember years ago two thousand after the supreme court decision and george w. bush was was the president my wife and i said boy this is probably a time to invest in defense stocks and it turned out that would have been a pretty good gamble or similar point in history i know you're not an economist or market analysis analyst i'm not asking to do that but are we to

a similar time in history we're now would probably be a good time to invest in defense stocks and defense companies i would say common sense would dictate that now that you have a two year budget ahead and that the the basis for increasing that budget has now been laid out it's probably there's probably going to be even more appropriated for it and that's going to affect every district in the united states every congressional district in the united states and that means jobs you bet it's going to mean it's going to mean something and and believe me it's actually going to be on the rise very significantly and that that type of spending. former senior pentagon official defense stock picker no i'm sorry michael maloof thank you for your time appreciate you being here to. and before we go d.h.l. the german delivery service which effort did then retreated from its expressed delivery service in the united states back in two thousand and eight is planning to try it again this time they will begin with same day delivery service in chicago

new york and los angeles the plan is to then expand to dallas atlanta san francisco . and right here in washington d.c. as a note you may recall the last time we had boom bust left d.h.l. there delivery failure of food to kentucky fried chicken locations in the u.k. had closed hundreds of stores those stores were all back open but d.h.l. lost much of the new delivery contract to roughly three hundred fifty k.f.c. outlets in the u.k. the k.f.c. contract has gone back to bidvest the original delivery company that said we want competition we don't like monopolies here in the u.s. so good luck to d.h.l. in the u.s. competing with u.p.s. united parcel service and federal express you we hope will do delivery right and as they say with k.f.c. we hope you do it so good thanks for watching be sure to catch boom bust on youtube

youtube dot com slash boom bust our to catch you next on. american minutes one is the melting. of the second is the ratio alex or a mess of a day bootstrapping anyone can succeed in america who works hard so this is a whole group of people all generation in america is saying that there is no melting pot we're not being assimilated there's no opportunities we can't live up so their response essentially is to go into conflict and this is a major. most expensive fish in the world each one selling for the tens of thousands of euros it continues to grow its entire life if it was thirty years old you might have a two ton fish out there and yet they don't get that big today because we're way

too good at catching. it's only remnants of a much larger mission was once there and that was much more widely distributed we have paul. titian's that are in office for a few years they have to get reelected everything is very very short term our system is not suited and is not cleared for long term survival and that's why we have the catastrophe is. what politicians do. put themselves on the line. to get accepted or rejected. so when you want to be president i'm sure. some want to be rich. that's a going to be press that's what before three of them all can't be good. i'm interested always in the waters of my house. yes sure. how does it feel to be a sheriff the greatest job in the world it's as close to being

a king as any job there is one business model helps to run a prison now we just do or don't like us here nobody over the case and i don't no one comes anymore we don't have to serve them anymore is cost effective that's what they want to do that they don't give a damn if you didn't charge them out there are actually pretty enough to put a mark in very good the louisiana incarceration rate is twice as high as the us sandbridge what she could is behind such success.

that in it there to win is a landslide victory in russia's twenty eighteen presidential election securing both terms in the kremlin. while international reactions of her to his victory brain just on the congratulations of world leaders such as i'm going to merkel through insults and criticism. get some of that made and more joyful song and dance of the election coming to voted tradition costumes and dressed up as a. buffalo on the election go to r.t. dot com coming up film director oliver stone is the guest on saving.

welcome to soviet shevardnadze it he won oscars dalton globes heyst films are cult classics part of american consciousness now all over stone's latest project was to film an extensive series of interviews with russia's vladimir putin. i caught up with the director himself to talk about the experience and i over stones great to have you with us today hope you're having a great trip in moscow has just got here so your book compared to your extensive interviews with putin is published by you called the putin interviews for day to day shows climax to my strange life as an american filmmaker climax your career is the best thing you've ever done. you know i have to take the point of view that it

could be the last film too you never know time is seems more precious when you get a little bit older and as a filmmaker it's a very young profession you know and very few and america especially it kind of goes fast you don't get off another chance so i felt like this was a kind of a climax not that it's a feature film but that it's the most safe at this time in history the most forbidding character to american media tumeric and western europe to i think forbidding kind of. cross into that into another world i'm glad i got here i mean i did mr castro and i did mr chavez i did. mr arafat and also netanyahu was a character when he was out of office back when he was out of office he's now in power forever it seems but these characters all led me to this moment with mr putin

. and i frankly i enjoyed the meeting him i met him originally on the at the on one of my trips to russia because i was interviewing snowden a lot we were doing research with ed and a lot of the movie and soden was represents what ad this point of view was so getting that information took time and we came back and we're trying to be accurate the last scene of the movie was shot in moscow so after a by one i met mr putin which is in the back room of a theater in moscow a play an old like hundred sixty s. play he was attending to promote folkloric culture. we met the back and i asked him about mr snowden and he gave me the russian version his version of what happened which was fascinating different than what we had been told in the public newspapers and so forth but anyway long telling the story

quickly is getting back to the end of the movie of snowden we shot in moscow to a weekend with with ed and then we turned around a few days later we went to the kremlin and we shot mr putin over three days and. at that time we didn't know if this would go on who was simply you know take it as it comes like you're doing and play it by ear it was spontaneous i gave melissa quick questions i was areas that i was going to cover but it wasn't limited he didn't say i was totally spontaneous i didn't have any limitation you know all the way to us and as you can see every day i look different he was always the same he looked very together i was sometimes. but here was blowin in the wind. i guess i changed appearances several jobs but. in other words i'm the opposite of american anchor i don't look like megan kelly i will look like you even. sam that's

a compliment. i know what kind of great effort it takes to get that kind of access but. that's not easy i mean a lot of russian journalists and top journalists don't get that kind of access right and i know how much effort it took you to make this happen and make it come together and then the minute this comes out it was so talked about in russia and obviously the whole american press right away lashed out at you saying yourself flattering to that you're a bad entry or just want to do you care it is again under under your skin because that's a lot of work you did with putting it was a lot of work but i didn't consider my i never said i was a journalist and i didn't pretend to be what i well that this is a book. a movie a film director you know me from the films and you may know me from some of the past interviews i did with the public figures but i'm not pretending to be anything else i know you said in response that you know you don't have an opinion about anything that you're doing that you're nurture all will the opinions of james because then i'm talking about the putin movie but at the same time i watched

a series you said a lot of flattering things about you know do you feel like you manage to stay objective and neutral. i don't i don't and i think if you see the movies i do it's not good but the high try to stick to what i feel is the truth and i don't take i didn't say one false word to mr p. at all i did say what i meant when i said it when i said to him and one of the i think one of the first things i said was it strikes me that you're this you're a son of russia because when you came into the country at a time when it was just in the dumps it was one nine hundred ninety nine two thousand the place was a mass. the real economic story and what you did was you turned things around no one can take that away from you and i think that's one of the reasons he's still popular is it because he brought a sense of place destiny a sense that we we are russian we have much to be proud of we have a history and he really is certain the concept of

a sovereign country which was crucial because russia was not a sovereign country from approximately ninety one two to two thousand it was losing that's offered completely the united states was and other people were walking all over the place and basically monitoring whatever they want and they were all over the the nuclear certainly the nuclear industry but look the point is that putin gave russia something that is really important in this world and we can get back to that because that's the bottom line is we need an anchor in the world we need a resistance to exist to the whole of the dominion of the united states i know that you know on talk about politics but this is a very happy type of question you have sighted people. who have done movies cost chavez putting them this are strongman you know obviously have attraction to strongman do you feel like this is diffused here of politics leaders like that they're very strong uncompromising. very controversial in many ways or should

politics be about dialogue and political correctness well it is about the long term and these men all were open to dialogue and you can argue who did who said what to who but the point was that castro tried to negotiate with the united states for a long time and he was rebuffed not only was your buff he was insulted in the they tried to assassinate him many times so you know where what is dialogue dialogue is important and mr chavez certainly had a point of view he was if you remember he shook obama's head and he really who is hoping that there was going to be a new approach from the united states didn't happen so it is about dialogue it's about compromise politics and above all if i. give you an overall opinion of mr putin he said he's the ultimate negotiator you wear you out he really believes in talking out everything there's no there are certain points of interest for every country has its national interests and he constantly hearts on this russia has its national interests and he's open to the gut to negotiating anything but those

national interests and when you cross the line. he will let you know as you know i pushed him whatever people say i pushed him and certainly i could feel his irritation when i was pushing him hard on the democracy question on this the question of his succession in what's going to happen next year there were times i riled him more than once but i am concerned and the reason i undertook the series was i was very concerned about going back to my relationship to russia what happened to the american russian relationship that had existed in two thousand if you like your film can change american perception and put in because it hurts all some dolly it has to some degree i tell you more than several million people saw it which is and this is on a premium cable channel show time is not on a national channel like in russia so you have a limited prescription audience that it was seen and seen again but it was also

shown in europe in a lot of places and we had a very good debate in france as public television channel three in france and. you've heard vedra in the x. foreign minister of mr beattie hall defended the movie very well i thought against and several other people against the opposition it was the debate was very french but in other words in europe and germany france these things matter italy very important now whether things change as a result it's hard to tell because the recently as you know the united states congress which stuns me voted almost unanimously for sanctions to be expanded against russia. this happened recently so it seems to be almost a reaction to trump. as putin says a domestic politics doesn't feel like trump is trying to sort of way emulate leaders like putin behalf he is i'm not sure i can tell you what is in donald

trump's hair.