and that's going to be the saudis they've pushed at a ramp i.p.l. out to twenty nineteen and i think they need to see crude oil stay above sixty five dollars a barrel they just finished their tour of their round go i.p.o. to frigid response so they're pushing out a year and i think when we start to see these production drops it's going to serve the saudis and i think that's really a lot of what's behind that right now but if you think a bit what would be a great strategy for them is to have prices stay you know 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 our producer right now in the world is us we've

got canada coming up brazil so the non opec producers are absolutely going to make up for that what's interesting though is the glut narrative is absolutely off the table even with the u.s. at absolute almost close 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 rosie 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 announcer's 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 sell 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 corner 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 to get ourselves straight here and we're going to talk to him about artificial intelligence and the defense sector the pentagon is seeking out some relations with silicone 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 at sixty two twenty nine and bit coin at eighty

three eighty one as we went to air. well you know that they were kind of adopted because we were called pirates were so long. been there in the smaller boats and if you don't harp on ships and you didn't . you might not be. the limo itself to be told fish already ninety percent of the dollar and on any loan that conner. yukon's fifteen scoops seventy five tons they do it several times a day with a complete oh you get an idea why. we have to

understand we can all still use to just. be with this or the deal or you go out. i'm doing this because i want them for the future world too. future generations to have and enjoy the ocean now we have. the far right britain isn't just on the march it's taken violent my daughter's action i know might need to take that yes you know again i see these organizations which all used to be split into which we take different names how do you view that . complex web of butchers bashing.

the most expensive fish in the world each one selling for 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 women themselves a much larger mission was once there and that was much more widely distributed we have politicians 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 geared toward long term survival and that's why we have the catastrophes. it's 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 or how to address differences that include spending on military infrastructure as well as those docket. 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 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 trump administration 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 we spoke 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 whole little bit me with a just one where when you talk about defense contractors so you've talked about raytheon and what i'd always there's lockheed martin boeing even be a east systems raytheon general dynamics northrup grumman that are making our new super mom 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 bowing 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 matters 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 once 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 in 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 can 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 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 big donald douglas no that's lockheed martin lockheed martin ok lockheed martin the and i already said i wasn't really doing it united technologies makes their engines and so they're they'll put components companies that supply the components and every state of the of the union in 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 yes 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 an order to get that congressional business of washington folks for better or worse 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. 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 might ask you to do that but are we to 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. 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 r t catch you next time. american minutes one is the melting. of the second is the radio alister a mess of a day bootstrapping anyone can succeed in america the works are 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 especially is to go into conflict and this is a measure of. how does it feel to be a share of the greatest job in the world it's as close to being

a king as any job there is what business model helps to run a prison now we do or don't like us is nobody to you is the case and i don't no one comes anymore we don't have the surgery many more is cost effective that's what they want to do that as long as they don't give a damn if you do the chores and none. actually pioneered to put a mark and. the louisiana incarceration rate is twice as high as the u.s. sandbridge what she could is behind such success. i just. feel.

the headlines in our tejan many in france side with the view k. and ask russia to prove its innocence in the poisoning of former double agents a good script moscow has once again reaffirmed that it had nothing to do with the attack noting that the presumption of innocence is being violated also this choose dima fifteen years since the united states launched what it called operation iraqi freedom also known as the iraq war we speak to former detainees of the infamous abu ghraib prison. after i was released whenever i saw americans on the street i would be terrified they would send me back to that place and torture me again it still keeps me up at night remembering the torture found in austria government right on the secret service headquarters there and the suspension of its chief political

turmoil. how that welcome you watching out international is just counting pm here in moscow now in a show of solidarity with the u k. many in france have asked russia to prove its innocence in the poisoning of former double agent. amid the escalating conflict is convening a national security council meeting on tuesday to discuss her next move will be to discuss the latest developments today with r.t. daniel hoare can see joins us now in the. london we're told may announce more action against moscow following this meeting what more can you tell us on that it has been fifteen days now of course since the beginning of this very much escalating diplomatic route shows no sign of abating those tit for tat measures ongoing now between london and moscow and european states now wading in as well

chancellor merkel of germany in consultation with the polish prime minister. more work he demanded as we mentioned there that moscow proves it's not involved she described its innocence in the attack on with the script well as opposed to the other way around let's just take a quick listen to what exactly she had to say in warsaw. we have both today on the same level condemned the use of a nerve agent in great britain i have also spoken with the prime minister of great britain and we stand on the side with them we are of the opinion that there are very serious indications there russia has something to do with this now it's up to russia to show this is not the case of the u.k. who was very clear they believe who was behind this attack moscow denying it all along nevertheless the russians had requested access to that sample of that they had requested that the u.k. make a request of. procedures and nevertheless so far it's very much as we said been on

moscow to prove its lot of involvement as opposed to the u.k. to provide evidence publicly of concrete direct russian involvement in this mrs merkel isn't the only leader to demand this president might call off france has implied that russia may have perhaps misused perhaps lost control. of some of its chemical stockpiles and has demonic clarity from moscow regarding those chemical weapons what's been the response. here. russia of course has maintained all along that no such weapons were developed or stockpiled in the russian federation they had no knowledge or involvement in the attack indeed they said that. they were destroyed last year i believe we covered that story here on r.t. as well they say that any implication that russia has done otherwise is actually undermining the o.p.c. confirmation that russia possesses no such chemical weapons the investigation he says been ongoing now for two weeks what's the latest on that well what we have to

bear in mind here it's one of the most complex counter terror investigations. you get history to put things into perspective some numbers here two hundred fifty detectives on the case counter-terrorism detectives many of them presumably working for domestic intelligence services for intelligence services as well four thousand hours of c.c.t.v. footage eight hundred exhibits from the place of the incident hundreds of witness statements this is an investigation almost unprecedented in scale and the police themselves who are leading this they have said that it may be weeks or months before we actually know what happened to mr script of course they've released no statements so far on any persons of interest on any perpetrators any suspects that investigation will be ongoing for quite some time ok thanks. dan hawkins there with the latest well with the national security council deciding its next move in the script twenty three russian diplomats expelled by the council are in the process at

the moment of leaving the embassy these are pictures of them quitting the london premises the twenty three british diplomats expelled in a mere response are due to leave moscow later this week. well despite the probe into the poisoning of sergei scripts and his daughter still ongoing media were extremely quick to blame russia as artesia reports. the west is in no doubt russia tried to poison one of its ex agents on putin's orders but if true that's actually a bit embarrassing professional assassins cover their tracks they don't leave their fingerprints all over the scene yet that's what using a nerve agent produced only in the soviet union essentially amounts to at least if it was the russians on top of this this last nation bid looks like it was a botched job with collateral damage and it's attracting an intense amount of global scrutiny presumably that was not what was intended and not what you'd expect from a slick all powerful secret service russian or not and yet outrageous an illegal

act on british soil an attack only you know i keep seeing new generation against the west the increasingly violent erotic approach of the right just contempt of contempt of the rule of law and content of our values so which is it bumbling idiots or super spies if we look back it seems the answer to that question can be tailored to fit the situation take the alleged hacking of the us presidential election washington call the operation sophisticated and attack the likes of which have never been seen before russia's blatant interference in the united states twenty sixteen presidential elections then he'd have said this is actually the crime of the century you have really don't rush and the fear. is driven by himself no doubt and yet those sophisticated attackers didn't make the slightest effort to hide their locations and he tom dick or harry can throw their ip address to make it

look like they're based anywhere in the world and yet all the ip addresses were russian a similar situation was seen in germany not long before their national election took place again the conclusion was that moscow was behind the hack because the ip addresses originated and russia however we've seen the exact opposite as well when south korean government computers were the targets of cyber attacks during the winter olympics the ip addresses use were from inside north korea. but it was determined the hackers were russians they were simply masking their locations this time around damned if you do damned if you don't you know everything that goes wrong must be russia we have our police saying that actually it's going to take months to try and find up trying work out what happened build the evidence will chain and yet on another hand as well we have the british media immediately stampeding to say it must be the kremlin it must be russia so this strange mishmash of speculation is very distressing to someone who used to work on the inside i would say as well that people like me have been challenging this narrative in the

u.k. media for the last two weeks ever since the attack happened and the list could go on but the point is the western narrative doesn't care if russian intelligence is smart or dumb or anything in between it only has to be one thing and that thing is guilty you. know it's been exactly fifteen years since the united states began an operation it called iraqi freedom commonly known as the iraq war what began as a promise to liberate a country from a dictator turned into years of conflicts across the region is a reminder of how it all unfolded. less than a teaspoon full of dry anthrax in an envoy load shutdown the united states senate arac declared eighty five hundred liters of anthrax. cut i think. many iraqis can hear me tonight in a translated radio broadcast and i have

a message for them the tyrant will soon be gone. the day of your liberation is near . as a night i am announcing that the american combat mission in iraq has ended. up there but. it will take time to read a case of cancer like i said we will conduct a systematic campaign of airstrikes against these terrorists.

plaguing. the cut. what's concerning is people who populate from crossfire those innocent people of mosul are the ones will require our humanitarian assistance. well one of the darkest pages in the war is the exposure of the top tier of iraqi detainee to abu ghraib prison the jail was originally used by saddam hussein for political prisoners but after the u.s. invasion in two thousand and three it did become a military prison for thousands of captured iraqis there many of the iraqis did

suffer torture sexual.