pretty low numbers for the first two quarters of twenty eight to eighteen also and the jumping up at the end of the year based on the current cuts that are in place these are the production cuts that opec and and russian a few other nations have put into place do you think that they're going to meet the estimated projections for that for the fall. i think this is where and i like to use i.p.o. shenanigans for this particular description because who does it serve to have these cuts in place and that's going to be the saudis they push that aramco 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 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 or do they have some grander strategy with the ram cohen everything else going on there. 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 we're 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 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 sixty two twenty nine and bit coins eighty three eighty one as we went to air. for a world cup twenty eight team coverage we've signed one of the greatest goalkeepers available to us but there was one more question and by the way who's going to be our coach. guys i know you are nervous he's

a huge star and a huge amount of pressure come out you have to meet the center of the problem here with you and we'll go through all the great game the great the good you are the rock at the back nobody gets past you we need you to get the ball going let's go. a low as i want to you know and i'm really happy to join the team for the two thousand and three and world cup in russia meet the special one come on south appreciate me to just say the review beyond the team's latest edition to make it up as we go so i need to look. the 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. it's only women and sort of a much larger mission was once 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 cleared for long term survival and that's why we have the catastrophes. 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 economists gang 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 u.s. 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 annika who is currently running second in polls behind leftist

andres 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 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 whole little hit me with a just one when you talk about defense contractors so you've talked about raytheon

and but i wonder always there's lockheed martin boeing even be a east systems raytheon general dynamics northrup grumman they 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 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 complexes 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 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 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 a 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 in the mcdonnell douglas no that's lockheed martin lockheed martin ok lockheed martin the m not ready to file if you already do it united technologies makes their engines and so. they will put components of companies that supply the components in 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 real oh my gosh so is very high depending upon the companies and they have outlets in every state of the union in order to gain that could in order to get that congressional the business of washington folks for better or worse lot of times it's worse but it does keep our day should 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 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 the defense monies have been spent i think one point eight billion disappeared nobody knows where it went recently it's it's

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 and 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 efford then retreated from its expressed delivery service to 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. the

phone right to in britain isn't just on the march it's taken violent my daughter's action might need to take years you know you know i see things we're going to think she is which will usually split into which we take different names how do you get. a. complex way which is. how does it feel to be. the greatest job in the world it's as close to being

a king in this. any job there is one business model helps to run a prison and i would just do it on my radio visitation i don't know what comes in and we don't have to serve them anymore is cost effective that's what they want to get out they don't give a damn if you give the charge on that they're actually paying us to put it back into. the louisiana incarceration rate is twice as high as the usa bridge what she is behind such success. with.

the headlines this out of germany and france side with the u.k. calling on russia to prove its innocence in the poisoning of a former double agent and his daughter and his moscow reaffirms it has nothing to do with the attack. tuesday marks the thing is since the start of america's invasion of iraq we simply saying former detainee to the infamous abu ghraib prison . after wright was released whenever i saw americans on the street i would be terrified they would send me back to that place and torture me it still keeps me up at night remembering the torture. and the way the protest marked the visit of the saudi crown prince to washington with the mohamed bin sound man said to discuss the iran nuclear deal and also the bombing of yemen.

well the welcome is just gone six o'clock in the evening here in moscow you're watching international. now as the standoff between russia and great britain intensifies twenty three expelled russian diplomats are about to leave the u.k. these are pictures of them quitting the london embassy a little earlier on twenty three british diplomats expelled in response by russia due to leave moscow later on the russian ambassador to the u.k. alexander yakka vanka spoke to artie's video agency ruptly about the expulsions. twenty three diplomats means forty percent reduction. and that's a world already embassy that's why there will be do isn't the issue of the visas is becoming a little bit more complicated these days you know to work here in the u.k. but this is the new reality is this is the different local populations. the major

problem for us you know all this. is that we don't have any evidence no evidence were presented to us and for the time being you know we don't hear when he's remission about the poison. well russia does the man that the u.k. either prove or apologize for its accusations over the poisoning of former double agent and his daughter in the city of seoul sprit and the escalating conflict the prime minister to resign may is convening a national security council meeting on tuesday to discuss a response artie's daniel hawkins has been following the standoff. so far over the last fifteen days it's very much been a predictable different arctic tit for tat the expulsion of those russian diplomats and the british diplomats likewise from moscow what we do know in terms of the wider fallout the support u.k. has received chancellor merkel one major european power leader has been in

consultation with the polish prime minister mr. moore where he where she has condemned russia and divided russia provide proof of what she describes as it's known involvement in this case proof of its innocence this is what she had to say 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 the president of france likewise joining in the chorus plying that russia may have stockpiled or perhaps even lost control of some of those alleged chemical weapons chemical agents it does possess calling on russia to reveal any of those. this is the statement from the french leader. the french president has called on russian authorities to shed light on their role in relation to the unacceptable attack in sol's beery and to take back full control of any programs not to clear to the organization for the prohibition of chemical weapons further to those talks in

warsaw the polish government also saying unconfirmed sources at the moment but saying they are considering expelling russian diplomats in solidarity with the u.k. also considering apparently bringing in sanctions against certain russian government officials and certain companies as well the whole. owners here of course being on russia to prove its innocence and prove. evidence of a lack of involvement in this case as opposed to the other way around the u.k. provide evidence of direct concrete russian involvement. to these countries that cetera very much of things perhaps slightly being turned on their head here short of what has been the official russian reaction. and to all of this initially of course denied any knowledge any involvement in what exactly happened to mr script while the presidential spokesman saying that confirming once again that russia the russian federation has not developed such nerve agents has not stopped while such nerve agents i believe destroyed its chemical weapons stockpile last year in twenty

seventeen nevertheless that diplomatic route has occurred the russian diplomats who were expelled twenty three of them by to reason may today have left or in the process rather of leaving london presumably the british diplomats who've been expelled by moscow will leave as well so the diplomatic fallout really shows no sign of abating despite a lack of suspects officially as of yet announced by the investigating officers and hawkins there well these are live pictures now coming from london stansted airport i think this is where the those twenty three diplomats are currently boarding a plane they were expelled by the u.k. with. will be heading back to moscow shortly and then coming the other way will be twenty three british diplomats are expelled by russia in a tit for tat response leaving russia. with these latest pictures there from london there where those russian diplomats are expected to return to moscow later the city . has been exactly fifteen years since the united

states began an operation it called iraqi freedom commonly known as the iraq war what started out as a promise to liberate a country from a dictator turned into years of conflicts across the region here's a reminder of how it all unfolded. less than a teaspoon full of dry anthrax in an audible open shutdown the united states senate arac declared eighty five hundred liters of anthrax cut i. mean 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 .

tonight i am announcing that the american combat mission in iraq has and. it will take time to eradicate a cancer like i said we will conduct a systematic campaign of airstrikes against these terrorists. the touch.

the touch. what's concerning is people who pop before those in that city people of mosul are the ones we would acquire our humanitarian assistance. well one of the darkest pages in the iraq war was the exposure of the torture of iraqi detainees at 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 became a military prison for thousands of captured iraqi there many of the iraqis suffered torture sexual abuse rape and also humiliation the horrific images of soldiers posing next to tormented prisoners shocked the world when they were released leading to the convictions of eleven american soldiers the story received

a massive public outcry to win the u.s. r.t. spoken to former abu ghraib prisoners who described their ordeal a word of warning there you might find the following images disturbing. when the americans arrived with their tanks we thought they would readers of the harsh regime everyone would have their own house and car just like in the wealthy arab countries or in the west but it turns out to be the opposite. which was they would hang a prisoner on the metal door of the cell and subject them to electrocution or your relation they would stick a rifle into a sense to various or they would use a broken broomstick causing internal bleeding prisoners would need surgery. 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 they hear the screams and yet i still have nightmares and suffer physical and mental pain as if it all happened yesterday i work night and day to try to forget it what we went through and what happened to iraq was a terrible crime it broke us even now i can't get inside a buffed up because it makes me think of waterboarding. the time i spend in the prison felt like a lifetime an hour or that pain. and unchastity is stays with you forever. and iraqi and pain told us that they had first welcome the toppling of saddam hussein but then the invasion brought one catastrophe.