details use of the same spyware for similar purposes, by top officials of a handful of european countries, namely, spain, greece, hungry in poland. he, you officials, are constantly talking about the importance of freedom and privacy. yet the list of democracies outed as deploying this aggressive spyware just seems to keep growing. the lead you lawmaker in charge of the reports spoke about the boxy manipulation of national elections with the use of spyware. directly affect the composition of e u institutions. and the political balance in the e u. governance bodies. the $45.00 governments accused of abusing spyware represent almost a quarter of the e. u population. so they carry considerable weight in the council. it's the same sort of double standards that we seen elsewhere. washington made a big show as specifically sanctioning the nfl group last year, although not israel, the state itself, but continues to engage in the same kind of electronics find the edward snowden

blew the whistle on. the u. s. also gave the state of israel a free pass. it's hard to imagine that being the case of the company paddling the spyware was russian or iranian, for example. so what does the lawmaker in charge of the report following this month's long you inquiry suggest doing now? i think we should start with a, a moratorium on the use off in the trade in a spyware, a moratorium, the, these conditional, in other words, member states can have it lifted if they meet a number of conditions. and that is, they need to have a framework in place for the use of spyware. we want them to agree to work with you or pull together other, you officials want stronger legislation related to the creation and transfer surveillance technology. some sound truly shocked that this congress buying could possibly be going on in europe. i am shocked by the ever growing spyware scandal

and greece, and by the total lack of will, by the greek authorities to properly investigated. it shows that the greek government is following the dangerous autocratic path of poland and hungary, the dangerous autocratic path of hungry in poland. why is it called the autocratic when some countries do it, but called safeguarding democracy and national security? when the u. s. for example, uses surveillance mechanisms like software back doors, to peek into your phone or computer activity and make sure that you aren't doing anything that would upset uncle sam. last year. former german chancellor angela merkle called for tighter restrictions on the control and dissemination of spyware . so it's already been on the radar. the problem is that as snowden, former boss, and as a deputy director and now you, us national cyber director, chris english, told me way back in 2014. everyone is scoring on offense in exploiting vulnerabilities with these kinds of tools. but no one's really very good at defense

. he liken it to a basketball game where the score is like 355 versus 967. the horse is already left the barn and it's going to be tough for the e. you to now legislate this problem away. one more story to bring you before we go to break a time between russia under run are strengthening in the energy sector to run past strongly praise the $40000000000.00 deal with rushes, main gas producer to set up infrastructure, undeveloped iranian gas fields themselves. eat our new ca, megan, if you go to kits, right? as you know, a rome and russia are too powerful countries in the region and they would never this close him political and economic relations, especially in the field of energy. we have the expansion of fields on the pipeline for exporting gas. and fortunately, we have all of these on the agenda because of the memorandum of understanding and the agreement we have with gas problem. yeah, security ties,

or other facets of interest cooperation are also on the agenda this week. a russian delegation met with her runs president racy in tehran, as well as the head of the islam of republics national security council. so a lot going on, local reporter yusef jelly can tell us more about it. patricia arrived to her on a tuesday afternoon and he was worldly, welcomed and greeted by the a wanting president himself. and this adds to the significance of the 2 shows visit to tech while he had an extended talk and dialogue with his iranian counterparts. we rival and he shall pony or if it's was nice, is costa, host of issues of mutual concern. so on top of them are security issues. both countries are trying to find ways to confront what they call the west interference in the 2 countries. domestic affairs. the 2 signs also on the same page on the same page when it comes to the united states. sanctions both sides are trying to find

ways to neutralize the american sanctions that target both countries. of course, and this is one of the main goals and objectives of the to shows visit to yvonne. he says that he wants to speed up the joint projects. economic projects that have already been discussed between the 2 countries. on top of them is the north south corridor. the completion of this important and major transit ground is very significant for both countries. this is a transit problem that connects india to iran or by john central asia and even russia and europe. so this, the, the south trans corridor is a key issue that both sides are trying to complete it. both countries are facing similar threats and now they are increasingly getting together and coming together even closer. both sides are emphasizing on the need to further expand their dialogue to the security council's of the about both countries with others. how is

thursday news rhonda is looking for now? i'll be back off the top with all the latest goings on to join me live from moscow . this with energy price, they're sorry, and it's not just oil. natural gas, the 700 percent since the started last year and is quickly becoming the driving force that shape geo politics. today. i'm christy i and you're watching the cost of everything. today. we'll take a look at why the cost of oil is storing around the world and what it will take to

finally bring prices back down with natural gas used to be a sleepy commodity. but now many countries have actually turned to natural gas as a part of a transition to cleaner energy. 44 countries imported l n g last year, almost twice as many as a decade ago. and the rising cost is one of the main reasons why inflation just hit a fresh record in europe. germany had to cut natural gas consumption and instead increase the bernie of coal in recent months as gas prom rushes gas firm even before the nordstrom sabotaged announced that it was cutting gas supply through the north stream one pipeline due to technical problems. so in order to make up the shortfall and its energy supplies, jeremy restarted coal plants and they aren't the only ones. austria, italy,

and the netherlands are all resurrecting coal as gas supplies dwindled. so despite europe, finger wagging a china and india for not cutting carbon emissions enough, they're actually now in the same boat as clean energy tech is simply not mature enough to supply all of the excess demand. coal usage is now up 51 percent from a year ago in europe. so as the pot calling the kettle, black, seeing as europe was so quick to condemn china and india at the parents agreements were not cutting coal aggressively. age. on the other hand is now becoming the default market for russian oil without western buyers. russia has been forced to crop their prices significantly and cut deals in order to move it oil, and then tori, and who doesn't love a good deal? yes, asian buyers have been the main beneficiaries of the conflict in eastern europe, china and india. they've taken a record amount, a rush in crude after the u. s. u k, and the e. u rolled out sanctions against moscow. so let's talk about china,

where china's crude imports from russia sword and may lifting purchases to nearly 7 and a half $1000000000.00, which is double the amount of a year ago. displacing saudi arabia as the top supplier customs data show that the oil was purchased at an average price of $93.00 a barrel last month, which is about $17.00 cheaper than the imports from saudi arabia during the same time period. meanwhile, and india is also talking to russia about ramping up its oil purchases at a considerable discount based on current prices, it would represent about a 20 percent discount. india imports a to 85 percent of its oil. so discount like this would be a huge win. and with today's government of india, it's motivations are more economic and political. so the benefits of cheap oil outweigh the pressures from the west. but remember, when it comes to the cost of oil, none of this is natural. it's all self sanctioning. there isn't an oil shortage from a commodity standpoint. it's simply people not picking up oil and banks not providing

credit because they don't like the country selling it. they don't want to buy from russia because the west is trying to punish moscow economically. but self sanctioning is a double edge sword, and consumers and businesses in the west are feeling punishment of higher prices. oil prices are now around 80 percent higher than they were a year ago. so let's go deeper on this and bring in bob i, a chino co founder, chief market strategist at past trading partners. so bob, you have your opinions turning back and we firing a coal plants again to plug up the shortfall in energy these days. how big is the short fall in energy and why can't renewable energy take us to place? well, it's a combination of things. first of all, renewable energy is nowhere near ready to take the place of the energy needs and the you are really anywhere else for that matter. for example, take germany according to most reports,

they've pledged to roll out renewable energy at a much more aggressive rate than a lot of the other countries in the u. their natural gas usage, however, only fell by about 6 percent from 2020 to 2021. now that's not as aggressive as you might think, from the rhetoric coming out of germany. by some estimates. russia accounts for 35 to 50 percent of the natural gas that goes into germany. so obviously the disparity there is between the seasons right? between summer, between heating homes. some estimates say that 50 percent of homes get heated in germany with russia natural gas. so the short ball is not only a matter of the transition being too quick, but obviously with the some might say, unforeseen conflict between russia and ukraine. this is a bigger shortfall than it otherwise would have been. but the transition to green energy is really the reason for the core of the problem. so do you think that renewable energy will ever be as cost efficient as traditional fossil fuel?

or are we still a long ways off from that? why yes, the answer to that is, yes, it will eventually be as cost efficient as fossil fuel. any answer is also yes, we're a long, long way from that. even electric vehicles, for example, replacing internal combustion engines in the us, you would not have the percentage of the market taken up by electric vehicles. had it not been on government subsidies. so some people might say that's the government giving you back your own money to buy a better technology, but it's not even really a better technology yet. for example, if you were to drive from florida where i am to chicago, where i am from, it would take $4.00 to $5.00 days in the highest performing electric vehicles versus a day and a half in an internal combustion engine. so while those are some of the more advanced green sort of products that we have out there, you're still not matching fossil fuel products in fossil fuel vehicles. so from

that perspective, when you're looking at renewables, it is likely the future one way or the other. but we are a long way from a being an affordable future from us consumers. it seems like absolute hypocrisy actually went just a few months ago. europe was berating china and india for being non committal with their carbon pledges. so now that europe has back tracked, are we seeing any backlash on them? well, i guess it depends on who you ask. if you think about the backlash, the group of people that whose main priority is to reduce the effect of human carbon emissions on climate change. that group with larger when gasoline prices were at $250.00 a gallon. and when natural gas prices were back in their normal, acceptable, reasonable range, as those prices go up, that block of people who again, that is their number one concern shrinks and it shrink significantly. and it shows you again how comfort in your day to day life and kind of breed this all truism. so

when you look at it from that perspective, yes, there's backlash. that was probably not as large as it would be. had the prices been at what people again consider to be more of a reasonable rate. and this is again the problem with the fast transition, and you might not even call it fashion and you look at some of the estimates the out of paris basically said that they're going to reduce the global communities, are committed to reducing carbon emissions by about 20 percent, but when you look at the individual government targets, it only reaches about 11 percent. this is by 2030, so the backlash has been there, but probably not as strong as it otherwise would have been. other than that. our other sources of fuel going to see the light of day france relies heavily on nuclear energy will nuclear c, a resurgence in europe? so i guess i have to answer that, that number one, i hope so,

is my 1st answer. and number 2, it really depends on the sort of political commitment to an actual, concise and comprehensive energy strategy. not just in the u. s. not just in the you, but globally, to me, when you look at the makeup of nuclear energy, it's probably the perfect transition fuel. if you want to get off carbon and onto green as green technologies, fully green as green technologies get better and better and better. and that will happen, you know, technological advances happen very slowly and then all at once we've seen that over the decades. so from a perspective of that, nuclear is probably the perfect solution because it's clean. some people perceive it as dangerous. it's been on the decline since the let's call it a disaster and ashima. but really some of the technological masses in nuclear make it a lot more possible used to have somewhere in the range of a 15 to 20 year lead time on nuclear power plants. because of some of the smaller plants that are being built now,

that shrunk from more to 7 to 10 years from that 15 to 20. but it's going to take government commitments to purchase that energy to purchase that nuclear power driven electricity. if companies don't get that commitment, they won't commit the capital building these things. so unfortunately, getting to nuclear is a public, private achievement if it were to happen and the public has to get behind it. and that needs a comprehensive energy policy, which we haven't seen in many of the major economies in quite a long time. that's bob i, chino co founder, chief market strategist, a power train partner. thank you so much for joining us today. when we return, even though there is a push for renewable energy, the reality in free energy is not even close to being ready to power. the real world fossil fuels are here to say, we'll have more with me.

i'm willing to do, you know cranium, tv, audio, shooting idea. she ship a doctor, lean report of control. you put you on board. so you should, she'll be at the mobile door by latest. i will only be near them if not sing. what's the fleecy leah or we can do a chance actually it's tim shop dark room news, but i'll let you do both iowa. oh crazy. that's what we're used to modern day my subway, but just dory. yes or no. i live she elise, get us. but there we ship them said yes, they got a gift or should look like you know what of them. i need a new train schools with that for a one they each or. and you can actually reach with global understanding years about how she took on

a job these to broadview, nestle tricky, real quick to take a picture of. i'll go double play, you have j, those feel good. i'm up with a little collaboration graphic. what is the best time to do with the i do about them . this is a bundle with what i to school car wouldn't support backwards, but frank same. you something that much can of course the near cost order the stuff that is a national krinski part through which it is said to jeff and use the menu to limit gone can be coma, luisel and the communist. somebody empty, you can see that they've got a left for the knob,

is all supposed to do. so if you sort of affected door only out of the 2 i the media with us, that's a disclaimer. but, but then with the routing the spoofing, so whether you do this open at the door with which in truth griffey so much, but he's a, do you work on? i love chris was it was the case. there's any big us left. we can go to the short notice to pick up though we're still a win win up, but of over love enough to get to know possibly lou, welcome back. when we talk about the cost of energy, there is one critically important fact that to keep in mind,

every nation relies on energy not just to expand, but simply to exist. while we measure d d p. today we look at things like the number of cars sold or the number of air trucks, people make, corporate world, new construction, etc. but all that still relies on energy, whether it's thermal renewable oil. so setting politics aside, fossil fuel is here to stay, at least in the intermediate future until renewable energy becomes more reliable and readily available. so let's dive deeper with dr. richard wolf, professor of economics, professor wolf, how do you think africa can transition to clean energy when they are already suffering from energy poverty, with many, still not even having access to a modern grid? well, you know, there are many examples in history where a society deemed economically less advance was able to catch up because it could jump over intermediate steps. i remember once

talking to a friend of mine in italy who explained that they never went through a modern really well developed postal system. they just don't jump from their under developed postal system, right up into email and one half and all the other electronic ways of communicating . and they are by caught up if you like. and even in the sense over took other parts of the world. and it's a kind of borrowing from one part of the world to another. but for africa, here's the issue. they have access to the sun. a lot of it, solar energy for them can move them up in the realm of, of energy access, ability, energy availability, and also cost because enormous advances in solar energy have been going on and

continue to go on. so while i agree with you, that fossil fuels are not something you can do away with overnight, and indeed are things that modern society provokes the need for. it is also true that other forms not fossil fuel based, are available, are becoming more accessible, more affordable. and i think africa will be in a position to take advantage of that. if they get the finances to make that possible. and now countries are all trying to rain in the rising cost of energy. the u. s. is once again trying to push legislation down the no peck act as an answer to opec. do you think this has any legs and what are the possible repercussions by the oil market? well, and my guess is it won't. and i, and the reason for that is because i believe a good point of the political logic around the war in the ukraine is

aid displaced form of oil, politics, oil and gas politics if you want. and that the benefits that have accrued from the war for oil and gas companies. and the, i recently took a look at the just the share price of x on mobile. you know, it's doubled in the last year a lot less than a year. ah, it's a wonderful time to be in the oil and gas business around the world. the lesson of that is lost on absolutely no one in that business. and given the tensions rising in the world, given the role of the growing bricks, part of the world that does rely on fossil fuels and is not about to make a shift that has their side effect, of making them in a poor position because they're not as far along in the transition to renewables,

etc, etc. i think you're going to see a continuation of relying on fossil fuels and a very hard row for any activity in any country that under cuts that i it will be offset by other developments because the forces that make that possible are still strong enough to do that and do you think that the interest and rex from a lot of the developing nations does not have anything to do with the interest in access to cheaper source as a fuel and is the 3rd world repelling against the green agenda? i think those elements of that rebellion, we've seen that for years of india and china have had a solidarity around those questions that is older even than the bricks. ment, i think the recent information we're getting that bricks is about to expand on the list of countries is remarkable. not just iran, as you might have expected,

but saudi arabia, but also countries like turkey and argentina. the growing interest in rigs means that's all of the energy politics that used to have to do with lee advanced west. and china and india are now going to see a very important growth. if these countries that i just mentioned joined the brick that will be more than half the population of this planet and no amount of india logic goal propaganda is going to change the fact that the whole center of gravity around all of these questions is in the process of being changed and the irony, if i can return for a moment to it, is that the ukraine, which was supposed to be a war, i mean there are supposed to be some sort of holding on to something that existed

before is in fact, like other wars having the unintended consequence, at least in the last unintended of solidifying the growth and the emergence of what simply is another center of the world economy. professor richard, well, it's always a pleasure. thank you so much for your time. ah, when it comes to the cost of energy, there will always be winners and losers. and while we spend most of our time today discussing higher oil prices, let's not forget that the market is a 0 sum game and one person's loss is another person's game as much as we hate to admit it. so who wins when the cost of n genius? hi. well, he has a global oil, a giant recording, some of their best profit figures in decades. and at the very top, saudi aramco, the world's largest oil company,

reported more than an 80 percent growth in its profit in the march quarter. oil majors like exxon chevron shell, petro china, have all reported year over year earning growth of 80 to 250 percent. and the other big winner here are shipping transports and container carriers. these guys, in the 3rd quarter of 2021 reported an average operating profit margin of over 56 percent up from just 3.7 just 2 years earlier. so the logistics industry is currently experiencing the highest constant peak increase cost and with the ongoing conflict with ukraine and rising oil prices, the price of bunker fuel is expected to search, possibly driving up freight rates again in the coming months. and the meanwhile, the biggest loser is unfortunately are the citizens of these countries, such as germany and belgium, who are now turning to wood as the heating source this winter as gas applies, remain tight. but unfortunately, the price of firewood has now risen from $40.00 euros and 2021 to around

a 150 year olds and some region. so where does that leave us? where will we be 3 to 4 months from now? i really don't see any resolution here, as i think the oil market will continue to remain tight. my prediction is that by this winter we will see the price of oil around $125.00 to $130.00 a barrel. thank you for watching. i'm christy, i of see you next time for the cost of everything. ah ah oh wow. that's another well, wow, do easy. wow friend. oh,

yeah. boy, you know, it's a fun slide. yes. south. yeah. rush a south with a new dock. awesome boys. now watch them up for me at that. i'll pull up right. people in the is a future. let me just kim's room thought. can you say the why? the ela a yes. my vote or jane in that again the or did fortune pretty up my be a lot about this morning after search financially with

ah, russia say its withdrawing troops from the city a per song that made fear that ukrainian attacks on a local dom could cause helpless stroke like flooding, also ahead african solving the old problems. and the last that was caused by the global not with the ongoing un climate conference addressing, rising pollution level western countries come under fire for using africa as a dumping ground for millions of tone with school clue about their concerns. what are the next 2 years.