after the coronavirus pandemic and subsequent demand last sent futures tumbling briefly into negative territory last april but with the resurgence of the virus as well as the rise of a mutated version there are big questions surrounding whether or a production should increase or not joining us now to. co-host and investigative journalist ben swan now saudi arabia and russia they were deadlocked monday over whether their producer's alliance should boost crude output but were able to actually come to an agreement on tuesday why was there such a deadlock and what was this compromise well it really came down to a time when there was an original e. agreed to timeline that said last year when we were in the middle of this coronavirus that production levels with the cuts russia which kind of grew over seas this opec plus a group of about 10 different suppliers worldwide saudi arabia represents about 11 russia had agreed to go ahead and a whole down production but they had a deadline that was supposed to expire at the beginning of january in 2021 that

would allow the production levels to come up again russia was supposed to start producing at least another half 1000000 barrels a day of oil but the saudis are saying is let's hold off and let's wait that's what they couldn't come to an agreement on on monday and then as of tuesday they reach the agreement the saudis essentially are going to cut oil production on their in by a 1000000 barrels per day they'll continue to cut it everybody else will kind of hold flat where they are and that news of course the price of oil up over 50 dollars a barrel now apparently the concerns over the speed of vaccine rollouts were actually part of the debate between saudi arabia and russia over oil production why is that it well yeah it really comes down to when that is normal whatever normal is ultimately going to look like going to be reached again and that's what it really comes down to as well as what the saudis are saying and their argument to the russians on monday was is that there is a vaccine role. that's happening across the world is happening in the united states

it's happening in europe but it's happening very slowly much slower than had been anticipated as you know brand right now in the u.s. only about a 3rd of the vaccine supply that sitting in hospitals right now has actually been been administered and so because it's taking longer and because of the news of this possible mutated version of corona virus which obviously is hitting the u.k. pretty hard right now and it's been located in the united states does that mean new sets of lockdowns which means less oil consumption which means you've got to hold the production down in order to keep the price as high as it can be considering the fact that we if we do go back into another series of lockdowns as serious as we saw in the summertime you know air travel comes to a halt. vehicle travel comes to a halt there's just so many things that slow down in terms of oil production. iran instability with iran has actually cause some issues with price fluctuation within and that's contributed to that. big time is what i was

going for then. yeah absolutely that is it fairly interesting when you look at what iran is doing right now iran did seize a south korean oil tanker it was flagged as a south korean oriel tanker and they did do that recently and as a result of that the there's some questions about will iran be trying to have greater control over the oil in the persian gulf and what kind of oil is moving through there through tankers that's 1st 2nd of all iran is apparently begun the reports are they've begun to enrich your rate your rainy again and they're doing so at a pretty fast clip so what it really comes down to here is are the iranians a wildcard if they are and if they start to slow down oil production and certainly oil transportation through the persian gulf if that happens then that could also cause the price of oil to rise but as you know bret the reality with oil is all about speculation in. has almost nothing to do with reality and so everything's

about holding down prices artificially or claiming they're going to be one thing or another thing they saudis again cutting the oil production by a 1000000 barrels a day weiss says so they can hold down the price and so all of this is it really based upon what the iranians are doing or is it really based upon the speculators and what they do every time in order to control manipulate the market and really do it in the wide open for that matter absolutely and you know when we talk about oil prices and especially amid the pandemic we talk about freight we talk about airlines we talk about car travel all of that being slowed down to the pandemic but i want to make a big point here about electric vehicles now electric car maker tesla says it delivered 500000 cars in 2020 but if they were facing serious competition from chinese electric car makers specifically a company called. what do we need to know about this competition and how it does deal lectured the eevee market for that matter does that affect oil production is

that a concern that these opec plus nations have long term obviously the electric car market is going to be a threat in the short term in the next you know 5 years or so no it's not going to change a whole lot because so many vehicles are not electric at this point but having said that there is an interesting story here in terms of the competition part between what's happening with tesla which as you mentioned delivered about 500000 vehicles in 2020 but this company you know in the out of china is a fairly interesting competitor to tesla and the reason for that is because the chinese as you know have never been a very strong competitor in terms of automobiles they are not known for developing automobiles and are having a strong automobile economy and so what the chinese have really set themselves on and as you also know when the chinese set themselves on something they usually accomplish it pretty fast because they pull out all the stops to get there the chinese government and the chinese economy is very focused on being in the world leader in electric vehicles in terms of development and technology that is the poor . right now there are 3 major electric vehicle makers in china right now they are

way behind tesla at this point but let's face it china is the world's largest market for everything at this point and so very quickly a upstart company like neo can overtake a company like tesla if the chinese are able to number one develop the technology at a at a fast clip and create a superior product and it's very possible they could do so this is a very open ended question here but do we have any reason to believe why china wants to be the leader and he's obviously would be the leader in everything but why did specifically even what makes a lot of sense for a couple of reasons one is because obviously china has a massive population that they can sell these vehicles to rather than being the the world's greatest purchaser of other people's electric vehicles they can be the leader in that but secondly when it comes to batteries and it comes to any kind of electric device china leads the world in terms of mining minerals that would be used to develop these kinds of technologies whether it be cell phone batteries

electric car batteries china can lead the world in this so it would make sense as opposed to you know automobiles in the past if you are developing technology that is really based upon having the specialized minerals it takes to develop really advanced batteries and your country leads the world in mining those wice in them and outsource them to other places why not develop that technology right there at home co-host ben swan thank you for bringing us the latest you've got it. and as big coin has continued to push past the $30000.01 of the world's biggest banks think there is a lot more room to grow in a letter published monday j.p. morgan says big question could be headed as high as $146000.00 to reach that milestone and compete with gold as a quote alternative currency the world's most popular crypto is market cap would have to reach $2.00 trillion dollars or roughly 4.5 times higher than current

levels according to j.p. now if this seems like a prediction too good to be true well it may just be as j.p. adds to reach this point because volatility will have to drop significantly for institutional investors to feel like it is a safe bet now because when and crypto advocates will likely remember the bank c.e.o. jamie dimon once called big coin a fraud back in 2017 just before it hit the previous high of about $20000.00. and the new york stock exchange has reversed course on its decision to delist 3 of china's biggest telecom companies on monday we reported the exchange would delist china mobile china telecom and china unicom hong kong between the 7th and 11th of january to adhere to an executive order by president donald trump which would prohibit americans from investing in companies that the u.s. government says supply and support china's military so in a statement released monday evening the new york stock exchange said after

consulting with regulatory authorities quote it no longer intends to move forward with the delisting action after shares of the 3 companies listed in hong kong took a hit monday all of them saw significant gains tuesday following this announcement . so with this in mind let's go ahead and take a look at the state of markets with angela sloan c.e.o. and founder of the sloan financial group and will always a pleasure to have you on here after the dow's new year thank you. do you as well now after the dow saw its worst start of the year since 2016 on monday markets started mostly flat on tuesday and had a slight rally in the final hours of trading recovering some of the previous day's losses what's happening in markets on tuesday. well you know for the end of 2020 the markets were assuming that the congress was going to remain split and that's what was the reason that we were saying all this record growth in the market was hit new records but if if the republicans can't hold these 2 in georgia or at

least one of them in georgia and we could see as much as a 10 percent sell off you know the democrats already control the house if they control the senate also then there's there's not going to be any checks and balances and business is going to see this is a very big problem they know that they will be saying huge huge rises in the corporate tax rates capital gains taxes going to go up there's going to be a lot more red tape and all of this is only heels of these businesses trying to recover from kogut so the market is not seeing this as being positive if the dems do not i mean if the republicans do not hold at least one of those seats in georgia you know when you talk about them trying to recover from covert plus the democrats taking over the senate and the congress and there being no checks and balances this is going to shoot our economy right in the foot and i mean they're going to go for the foot right between the eyes so. you know on top of the river the economy reversing imagine the the unlimited spending and the giveaways to foreign countries

all of that's going to be even more out of control and we could be headed for a huge usa the united states of america we could be headed to a lawless bankrupt socialist country with no borders if we can't keep the checks and balances in place so this this election that's going on in georgia is vital this is very important to our economy and to our markets understand everybody is obviously entitled to their own opinion but i think a lot of people would argue with you that joe biden come all a harris chuck schumer and nancy pelosi aren't exactly poster child for the socialist movement here in the united states but again we could we could agree to disagree on that what now we're seeing into a lot of volatility is that all because of this election or is a lot of this have to do with the uptick that we are seeing in cold cases especially that post-holiday covert spike that we're seeing. i really think that it has more to do with the election than it does kind of that you know we've been

dealing with coverage for almost a year now we're used to it and we're tired of it ok business is ready to conduct business so i think it more has to do with the election than it does combet you know i hate to see you know more major shutdowns and especially for the businesses that are already struggling but i really think this if if this election goes the right way i think you're going to continue to see growth in the market and in the stone of the slowing financial group thank you so much for bring us up to date thank you for having me. on tuesday rush is going to lay a institute said the country has administered more than $1000000.00 doses of its coronavirus vaccine at a rate of approximately 100000 bags nations per day despite having the world's 4th highest number of coping 1000 cases the country recorded its lowest infection rate

in more than 6 months russia's government said it reached 200-4246 cases as of tuesday a 20 percent decline from the infection rate in late december institute claims the vaccine dubbed sputnik v has an efficacy rate of 91.4 percent however phase 3 trial results have yet to be published in a peer reviewed medical journal. time now for a quick break but here because when we return after announcing its 3rd nationwide locked out the u.k. has offered a new economic relief package to support businesses we'll bring you all the details as we go to break here the number that the clothes are all green arrows across the board.

so what we've got to do is identify the threats that we have it's crazy. let it be an arms race. spearing dramatic to follow only closely. i don't see how that strategy will be successful very critical time to sit down and talk. the way of life for

those leading a traditionally nomadic lifestyle the tundra is similar to a parallel reality i'm. glad to drive the herd in and carry the weight of the household look on their shoulders and show them which. one of us to let. is thank you however in the vast expanse of the. there. were a housewife could secure regular employment status it's in the final soon as today . she's. i got this 8 millimeter film purely by accident. time period 963 to

65 place damascus. don't dump their why young boy. i've watched it many times a man posing the monuments and all poster of the hollywood premiere of town without pity and a fight in a mock so with outbursts. i had my doubts if i should waste my time on this. i came back to that film over and over again tracing a sequence of events happening in syria at that time and those who worked there the moment i'm revealing. any you know what you see neal curiosity is like a petrol motion machine it lives on without a lunch break and then suddenly i saw him stop let's take another look now at low speed this is key like 0 on a super spy who some consider

a national hero and others and evil villain an israeli double o. 7. because it's. a good one you're still. there welcome back as the united kingdom struggles with a more contagious variant of coping $1000.00 the nation out a $4600000000.00 pound or $6200000000.00 support package for businesses on tuesday now the move comes after prime minister boris johnson out the country's 3rd national locked out monday evening british chancellor reached. spoke about the relief package tuesday in london. today we've announced 4600000000 pounds of additional help for businesses in the most affected sectors who are asked to close

they will receive up to 9000 pounds in a one off cash grant is important but that comes on top of the existing monthly grants of 3000 pounds that those businesses receive and the extension of furlough all the way through to april we remain committed to protecting jobs and supporting businesses. to expect the british economy to fall back into recession contracting in the 4th quarter of 2020 in the 1st quarter of 2021 due to the latest lockdowns know this economic decline however is not actually expected be as severe as working from home has become the norm in construction and factories are expect to stay open as social distancing protocols have already been put in place so for more on this let's go ahead and bring in hillary ford which board member with the british american business association hilary always a pleasure pleasure brand and hilary how is this latest support package going to help businesses in the u.k.

well as you heard the chancellor of the extract mention this is going to be an immediate grant to small businesses and particularly in retail hospitality and leisure but there also is another $600000000000.00 pounds set aside for other businesses which will also receive a grant so to a sudden degree obviously something is better than nothing that's what i'm hearing across the board i would actually though quote kate's nicol she's the c.e.o. of u.k. hospitality and she said this is really just a sticking plaster for immediate else well sticking for us audiences is band-aid this is just a band-aid on an immediate all this is not long term surgery and this is something that is just really rather short well and it definitely seems like we're going is especially amid the coven $1000.00 pandemic we're going crisis to crisis we short term fixes and honestly i'm not sure that there's a long term fix that can be done when you don't know where we're going to be in 6 months down the road when it comes to infections and vaccination now hilary we

heard about that 9000 pound one off cash grant for those who are forced to close on top of their $3000.00 pounds they are be receiving monthly that will go through april is this actually enough to keep some small businesses afloat and support at least through april well i would say that the brand that the grunts. nope. program and no loan is ever enough to really subsidize what a business actually needs in terms of growth so basically you could say the new growth is just staying in business used to be the expression flat was the new growth just staying afloat is the only way that businesses can survive at the moment so it is something better than nothing i would actually quote also add a marshall he's the director of the british chambers of commerce and what he has said is really rather than just the spring and this directly answered your question they need businesses need something that's going to take them through 2021 so there's some kind of certainty that's been the whole issue with bracks said has

been the lack of certainty businesses don't plan month to month businesses have to plan more long the government is used to reacting to. it's interesting to say that but i want to point this out because despite these vaccination efforts this new variant of the growth of virus there's a cause another nationwide locked out is that why they're looking for that long term solution because i mean when you're a business and you're saying well here we are locked down again you know the 1st locked up will solve the crisis 2nd lockdown well there was also solve the crisis now we're here the 3rd in great britain i mean how are businesses reacting to specifically this latest lockdown well i would say yes you're right this is the 3rd lockdown on that show i've heard many say you know if you look lock downs work then why are we going into lockdown again if they don't want why we're going into lockdown again obviously a lot of people have a lot of anxiety around this and duly so but nevertheless we have to deal with the actual situation the way that it is the way that businesses have coped you actually

mentioned in your intro that businesses won't take this quite as hard as they had initially won't be as hardly hit why because they have prepared just like in the us and just like other places around the world there are more takeout services restaurants have adapted brilliantly so have u.k. pods with pick ups and deliveries etc so i think that there will be a softer hit the issue is how quickly really can the. scenes be distributed through the n.h.s. the national health service over 100000000 of the 1st series of vaccines were ordered how quickly can those be distributed to get the nation back to normal that really is the crux of the issue and hillary i want to talk about these recession fears are also something i mentioned in the intro to you here you know as a kind of saying it's going to be softer because of the point that you just mentioned the financial times actually released a survey of more than 90 leading economists and then actually you say it would take about 18 months for the u.k.'s economy to recover longer than many of its peers european and the united states having the g.d.p.

would not have prepared demick levels until the 2nd half of 2022 i mean do you see bridge actually facing struggles to get back on track going into 2022 or or do you think that might be overblown or brett you mentioned obviously the survey from the f.t. also the o.e.c.d. has actually just announced that really the u.k. has been the hardest hit except for argentina globally which is a sadistic i will say that i don't know that they're taking into account all that the secretary of trade liz truss is doing she has already solidified 58 agreements with foreign nations in terms of trade agreements and something they're not taking into account an economist really look at the way things are in the way things work they can't really project on what they don't know what we don't know is how quickly will further trade agreements be solidified and that i think of the free ports and her intention to make london into sort of singapore on thames those factors i think a water going to contribute to the timeline versus just what was so most

projections have 2022 as the timeline in terms of the u.k. to really bounce back it's all going to depend on foreign trade agreements and how quickly they can be established are i want to one last point before we go we're just a few days into a post breck's it world yes or no was this the disaster critics worried about or a boon supporters had hoped for somewhere in the. well i would actually say brand niva because nobody predicted kind of it but you can you can play i know this i could be wrong and i guess i could be completely right one thing i would like to point out though is that there was a prediction for hundreds and thousands of financial jobs to leave either dublin or ball in but they haven't today about 5480 or so jobs have left the u.k. in the financial sector that's actually a drip in the bucket i will say that the u.k. according to eric of zawiyah he is a french political commentator he was on the news recently and he actually said

that the great britain has won and he coded 3 different aspects of winning but one thing i would say is this is the financial sector which is the largest part of the u.k.'s export in terms of service as those actual details have not been finalized how those come out brant that is going to prove either the bricks it is or the ramona's or remain as totally right well that remains to be seen and i don't think anybody can really call foul all of victory so soon it's going to be longer all i can say is at this juncture no it's not as dire as all the predictions lead us to believe what hilary just told us there is we're not done with breakfast yet we're learning domino a lot of so not so for to achieve the british very good business is a they said what ragged out for pleasure always brant thank you. and finally complications continue for the estate of legendary musician prince now the iris claims the artist the state was undervalued by 50 percent or $80000000.00 now court

documents show the iris was another 32000000 dollars in federal taxes also was another $6400000.00 for and received related penalties prince suddenly died of a drug overdose in april of 2016 without a will this is created one of the most complicated pro big corporate. in the history of the artist's home state of minnesota america bank and trust the administrators of the estate sued the i.r.s. this summer claiming the agency's assessment is filled with errors in cases like these if asked cases like these drag on millions of dollars have been given to lawyers and consultants away from princeton 6 sibling heirs and that's it for this time you can catch boom bust on demand on the brand new portable t.v.'s smartphones and tablets through the google play and apple app store by searching portable t.v. you can also be downloaded on newer model samsung smart t.v.'s as well as roku devices simply check it out portable t.v.

the next time. join me every so. yes. i'm sure. i'll see that. has changed many american lives but pharmaceutical companies have a miraculous solution. based drugs talk to people who are chronic pain patients and believe that their opioid prescription is working for them and the remedy to be certain to do no price at the. grocery dependency and addiction to opiates to long

term use that really isn't scientifically justified and i'll study actually suggested that the long term effects might not just be absence of benefit but actually that very night because we want to. 2021 we're going to see anything phenomenon and point 21 you know america has been exporting as inflation and china for 20 years and now china's caught up to america and now all that money of printing that's been going on for 2025 years is going to show up as a real place for. i got this 8 millimeter film purely by accident. time period 963 to 65 place damascus.

i was old don't know why young. i've watched it many times a man posing the monuments and all poster of the hollywood premiere of town without pity and a fight in a mock so without bruises. i had my doubts if i should waste my time on this but i came back to that film over and over again tracing a sequence of events happening in syria at that time and those who worked there the moment i'm revealing. you know what you'll see in the new deal curiosity is like a perpetual motion machine it lives on without a lunch break and then suddenly i saw him stop let's take another look now at low speed this is key like 0 on a super spy who some consider a national hero and others and the evil villain an israeli double those who don't.

because it's bad for them and they at the. at the on shore still. can use an r.t. to the dismay of his supporters when he's co-founder jude in the sand just being denied bail on remain in custody pending washington's a pale on his extradition u.k. court turned down the u.s. request on monday of the concerns that a songe would commit suicide but a songes legal team hasn't given up those saying that they are going to appeal wednesday's decision. this in iowa bailable with the most likely hood will be appealed to the high court within hours or a few days and we. will expect this to be over to.