remember, we rocked the bakken.ad a good experience with chesapeake for 32.5% interest in chk's 1.8 million acres which paid $3.8 billion five years ago. when the representative appeared on "mad money" in june of last year, he said he likes buying in the united states very much because the country's very accommodative to those who want to drill for oil versus many other places around the world. i believe given the company's positive disposition towards the united states expressed here on "mad money," presume it might up its drilling budget for properties it already owns, can't make much money on that. or it might put more money to work buying oil companies in this country. we know the chesapeake where carl icahn stake close to 10%, could they sell rest of the marcellus position? given how capital oil and gas or c.o.g. keeps finding better and better nat gas properties, i don't think chesapeake's a seller. we know there's plenty more oil in north dakota than we first thought and even since the time of statoil's buy.

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north dakota's bakken field scoring its biggest oil production increase ern may.is according to a new report by energy firmemscape. 54,000-barrrls, striking 64,000-barrels today. they say bakken production will hit 1.1 million-barrel as day by end of next year. >>> at the same time libya's oil production and exports hitting the lowest level since muammar qaddafi was ousted from power. labor strikes are paralyzing libya's oil fields and seaports. it can not make promises on september oil delivery for clients. >>> libia' woes and unexpected rise in crude inventories sent crude rallying today. crude was up 72 cents. >>> now too the boomingusiness of e-cigarettes and a big potential problem for the producers. is all about whether or not e-cigs should be regulated, similar to normal cigarettes and if they are, what's next? new york city's myor bloomberg seems to be leading the charge according to leaked documents, three tobacco-related bills are making their way to the new york city council that could effectively ban e-cigarettes. is could have huge ramifications for i

it is not just the bakken. it is going on in a bunch of other resources around the country.eing collapse though of market caps. does that bother you? >> that's a very good point because you have had a drop in the market capitalization of u.s. markets between buybacks. between 10 to one reverse splits with things like citigroup, with share repurchases, and you've still got a lot of m there trying to chase fewers stocks if you will. so i think the odds that we're in a secular bull market are, remain pretty high. so i am a buyer on a pullback but more than a five or 6% pullback. tracy: you have the other camp saying you know what? the market is overvalued right now. they're almost scaring people away from getting in it? >> when the markets broke out of the 66 to 82 wide swinging trading range like we've done in the wide swinging trading range between 2000 and 2013, it took professional money four years before they start in aggregate embrace stocks and the public didn't come back in until '87 after the zap was up 13% in one month and then they got scared again. if past is prelud

investigation continues, and one aspect they're looking into is whether the oil which came from the bakken dakota is actually possibly more explosive than other oil fields. >> typically, we use tanker vessels and pipelines, and now we're looking at absolutely astonishing increases this the way we move oil by train, and that's something i would suspect most communities are not prepared for. >> reporter: washington state's democratic governor jay inslee will have the final say on the vancouver project and the other one slated for washington state and, of course, there's a democratic governor in oregon, so these two states bleed green. we'll see if they side with environmental groups or the jobs. lots of jobs at stake here. alisyn: right. they may be caught in the middle here. dan springer, thanks so much. jon: we are following the developing situation in egypt, chaos erupting over a day of rage. the latest on the deadly violence unfolding by the minute. >>> also, a danger wildfire in utah, flames shooting nearly 80 feet into the air. we're live in the fox extreme weather center with a look a