harrod hamm is a pioneer in the bakken region in north dakota.e is billionaire who's company produces 150,000 barrels of oil a day. forbes magazine says he is the man fuelling america's future. he is on the cover of the magazine this month. we have the author of that article. chris, thank you for joining us. you just heard don talking not just about the oil that comes from canada, but also the bakken shale. hamm looked at that, and said i can get the oil out of here, and he is doing that. >> yeah, the bakken has been an absolutely fabulous find for america. it is producing 1 million barrels a day. and if you pair the bakken of north dakota with the eagle folder shale of texas, that's about 3.4 million barrels of day of oil that the united states was not producing just five years ago. this is the real keystone of the american energy boom. we are producing 800 million barrels a year of our own oil that in years past we would have been forced to buy from opec, saudi arabia, russia. >> so if you look at the bakken, there are two things that are going

some in the bakken they're not on the train or they're not on -- not on the pipe.f positioned in utica where it gets to market? >> fortunately because we have the midstream all my pipe is already there. so i have like three wells coming on this weekend -- >> what do you mean this weekend? what piece going to happen if i were there? >> you'll hear gas flowing down pipe. that's what you'll hear. not up in the air. >> right. being used. >> yeah. that's what's different. we actually lay our pipe before we drill our wells. >> you're very different. >> when we complete, we're going into our own system. >> why doesn't everyone do that? >> it's different philosophies. >> now, natural gas has taken a turn in this country. >> it looks great. >> it's just -- you make money at 2. so it's not -- >> the best areas in the country. we have to have 3.6 tcf by november 1. how are we going to get there? it has to come from the marcellus and uticas. nobody is drilling the bakken or drilling the fayetteville. nobody is drilling the hanesville. because they need 5 to $6 gas. so i love 4

two-thirds of the oil produced in the bakken formation today is shipped by rail, as is roughly 10% of all u.s. oil output. last december, a b.n.s.f. train in casselton, north dakota, struck another train, igniting 10 cars and spilling 400,000 gallons of crude oil. ethanol, which is also increasingly carried by rail, was the cargo in a 2009 train derailment in cherry valley, illinois. one person was killed in that accident. now, the national transportation safety board is working with other agencies on new steps to improve the safety of the rail shipments. >> woodruff: for the record, b.n.s.f. railway is a newshour underwriter. >> announced they will phase out older rail cars like the ones involved in the quebec accident by may 2017. between 65 and 80-- 80,000 of them are carrying flammable liquides in north america. this week the u.s. in addition transportation safety board has been meeting on these very issues. and i'm joined now by its chairman deborah hersman, welcome to the newshour. >> hello. >> woodruff: is there a consensus on why there have been as many accidents as there have

he discovered the vast bakken oil and gas field, he was invited to the white house, but the presidentidn't seem to want to hear what he had to say. and two weeks later, the justice department want after himmering bringing criminal charges against his company, his crime? killing a bird. check it out, the story of harold hamm and others o'clock their fierce battle against an all powerful government capable of crushing individuals. enemies of the state, 10:00 p.m. tonight and sunday, 9:00 p.m. eastern. >>> that does it for now. we're back after another hour of news at 6:00 p.m. eastern. pl a bush family album is up next. including tuberculosis. seris, sometimes fatal infections and cancers have happened in patients taking xeljanz. don't start xeljanz if you have any infection, unless ok with your doctor. tears in the stomach or intestines, low bod cell counts and higher liver tes and cholesterol levels have happened. your doctor should perform blood tts before you start and while taking xeljanz, and roinely check certain liver tests. tell your doctor if you have been to a region where ce

less of this oil because the pipeline doesn't get approved or there's more oil coming out of the bakken, what happens? >> we want to attract oil production over the years. where is it going to go? >> some of it will be to the u.s. by rail. we think rail capacity will probably keep pace. >> rail is a safe alternative but not the way to move large volumes -- it is not unsafe, but clearly there are incidents. >> but you get why consumers worry that that's not true, right? there is a general mistrust of industries and rich industries in particular. they say, really? am i going to be sure? we look at west virginia, frac-ing and we wonder if you guys are all being honest with us? >> i would say two things. one is that we operate under a very, very rigorous regulatory regime implemented and operated by a government that cares about these things, and i would argue cares a lot more than many of the other places in the world. i think we stand out as having very, very responsible environmental performance track record. there are financial obligations we have to meet, money goes into to a fund to p

. >> here's a longer-term question, though, with all the develop of the bakken shale and -- aren't theyell positioned for the longer term? >> coal 'a big part, but if they start to switch their shipment, or whether or not there's a pipeline that actually gets built that links certain parts to southern refineries. >> and of course financials have been in focus, citi doing well today despite the softness in the market, in terms of citi and jpmorgan as well, they've had consistently among them, two issues of weakness, one is fixed income, the other is mortgage. but we've seen declines, sometimes substantial year over year at some of the bank that is have reported already. b of a have been a low expectations because of legal charges taken this quarter, but i'm curious to hear what color they give us on those areas. this is a bank that at one point touched one out of two households in america, i think it's lower these days, but still an important leader. it will be curious to see if the pain is widespread or idiosyncratic. >>> we'll be back tomorrow with your earnings preview. brian, back ov

that gentleman who discovered the vast bakken oil and gas fields. he tried to tell president obama how the renaissance in oil and gas could make america energy independent. two weeks later, the justice department brings criminal charges against his company. the crime? killing a bird. tonight on fox news, the story of harold hamm and others and their fierce battle against the all powerful government. "enemies of the state" tonight at 10:00 p.m., again sunday at 9:00 p.m. eastern. >>> individual donors can now give to as many federal election candidates as they want, as well as political action committees and even political parties. that's because on wednesday, the supreme court voted to strike down limits on total contributions. the 5-4 high court decision now clears the way for more private money to enter the system. joining us now is susan estridge, professor of law and political science at usc and fox news contributor. hi, susan. >> hi, art. >> were you surprised by the decision? >> no. i called these ones. gregg and i have bets sometimes as he'll

united rentals, the equipment rental company, terrific, semiconductor company, whiting, that's a bakkenrgan. we're going to keep kinder because we like the dividend, although it's been under a lot of pressure. and we're going to get rid of whiting, we'll talk about a portfolio that needs, indeed -- you thought i was going to say bristol-myers, i'm putting in cellgene. ♪ hallelujah let's go to howard in california. howard? >> caller: hello, mr. cramer! let me give you a big boo-yah from central california. i would like to know if i'm diversified. isys pharmaceutical, technology, tibco technologies, key corporation and facebook. >> all right. this is going to be very, very tough. key corp., the charitable trust likes it, facebook, same, undervalued on 2016 numbers. here's the problem, tibco, that's tech, i think this portfolio could use a honeywell, an industrial, and it could use a financial. and that's why -- oh, no, key corp., it could use a -- you know what, i want to recommend here, i think we should give it a tech. a -- i want to do a defense stock. itching to give it away. lockheed

they were down over a million barrels a day just from increased production in plays like the bakken ofakota and the permian of west texas. it's happening. >> how are you benefiting from this? the margin of cost of production and the cost of the fuel here, how fine is balance between the two at the moment? >> what's happened at our industry is that companies have moved from the conventional forms of finding oil and gas to the shale. there's about ten of them active in the united states. it's all due to horizontal drilling and fracture stimulation technology that we developed in the industry, allowing us to produce oil and gas from rocks we never thought was possible. all this technology is creating a huge increase in both oil and natural gas in the u.s. it's allowing us to become an exporter. >> what are the percentages between oil and gas? >> growth wise? >> no, just in terms of when you break down share and in terms of total production? >> if you look at the oil side, the united states has always been the largest importer of crude oil predominantly from opec. we believe by year 2020 t

you can see median incomes have gone up up here in the balk ann shail -- bakken shale in and around north dakota, the eagleford shale, the barnett shale, the marcellis shale, green, green, green, green, median income going up for everyone in the county, median income going up. where energy production is occurring. strikingly, the marcellis shale extends north to new york and yet the entire state of new york you can see there's not a county in the state of new york where needian income has gone up. why? the democratic politicians in new york have prohibited developing those natural resources because they ban fracking. so pennsylvania, pennsylvanians apparently would like jobs, like higher median income, they're seeing the benefit but in new york, new yorkers are not because of democratic politicians in new york that prohibit developing those resources. i would note that one of the most promising areas is the monterrey shale in california, abundant resources and you would note the entire state of california there's not one green county. and that is because california likewise even though th