nd oil.was like you were agriculturing and you onlgaggins of space where you could catch your breath. only way i could go in that direction was drop down and swim underwater four or five strokes come back up and then frantically catch a breath and try find something else to hold onto. i got pulled through the hatch. and onto the deck. >> others were not so lucky. >> my friend rony campbell ronnie campbell had a desk right there. he said you fellows can do what you want to, i'm going to write a letter home. he began typing, dear eileen you never will know what's happening to us. seconds later, the torpedo struck and killed both the two marines, and my friend ronnie campbell. >> my job was to try to get 20 or 30 wounded marines to the life raft. i looked myself before i tried to get anyone up and that's when i observed a motor torpedo boat, israeli, clearly marked with the star of david, machine gunning our boat. >> the crew were trapped with nowhere run and nowhere to hide. >> the torpedo boat

in the last two or three years, saudi arabia has managed to sell oil at about 100 art levels and iraq aexport levels than ndlding a stash they are relying on now. if that is what it takes to bring other opec members on board or just keeping low oil prices and helping demand. and japandia, china, will benefit end -- there will be more demand for oil. oilore demand for down the road. how much fear is there that the price over $120 was demand destruction? is there a sense that as the west invests in new technology and green technology you will see an erosion of demand for their product on the road? demande is the fear that for oil will reduce because of natural gason to and green technology. in the short term, we still depend on oil. higher oil prices impact countries such as india, which imports 80% of crude oil. 20, we were accelerating that. >> exactly. they will probably think, and yet will think of moving away from oil. in the short term the chances are low. it will still be stuck with using only oil. the only way that demand destruction will take place is if consumption in the country -- oil,hishek deshp

has taken hundreds of strikes in syria,nd substantially impacting the ability to sell oil to fund the operation and driving the leadership underground which complicated the ability to command and control forces. the dod has the troll 1400 troops to protect the embassy and advise and assist in iraqis security forces including the army, counterterrorism services and the president has announced another 1500 would go. we have also airlifted substantial stocks of ammunition and weapons to this. kurds fighting and the liftedtration has somewhere -- and listen somewhere around 15 countries to fight. a number have undertaken strikes in iraq and. somehow volunteered to send special forces to help. congress approves temporary training andbegin equipping elements of the syrian opposition to fight isil. in other words, we are come along way in a short amount of time. thank you to the two of you for the leadership in arriving at most of what i just mentioned. even thoroughly we have made substantial progress there remains to be done things. without question plot and plan attacks about the west. --

nd in iraq, of course very easy geeology, cheap to produce the oil. but you have to spend $15 billion to make the oil come to the markets. but today in this security situation, having the appetite to invest in the iraq and middle east countries, many middle east countries are close to zero. d assuming that the issue of the security issue today in iraq and elsewhere will not be resolved tomorrow. it will be with us for some time to come. this we believe is a major issue. because if you want to see a production growth in 2020 in the middle east, we have to invest today. is not like electricity button. . it is five, six years lead time of a project. and if you aren't able to invest now, how are we going to see the production growth which is badly needed in 2020, unless there is a major economic problem which would push the demand down? so from that point of view we are very worried. and here energy security is not only a problem for the countries, our own countries, because today a bit more than 50% of the middle east oil goes to asia and tomorrow it wil

oil revenue? >> by far. >> ok. nd so how effective has u.s. effort -- u.s. efforts been so far, the coalition's efforts been so far at targeting the middle men in iraqi -- the iraqi kurds or the turkey -- to the tur turkish elements -- >> how afekhow effective have e been in identifying middle en that are delivering the oil to other parties? >> there's very little in the open source about it. when i talk to people, my understanding is there has been some progress in identifying these people. then take time to put together packages and get to the point where you can designate somebody. i expect that those designations will be forthcoming. we have seen more success in working with partners in places like turkey and in the kurdish areas in the north of iraq where the problem isn't so much criminal middle men but corrupt oliticians who are involved in this as well. keep in mind, these are oil smuggling routes and individuals have been involved in this for years since the oil for food program. so combating something that has that kind of traction is difficult. >>

oil and gas, coal, crmp o 2 trends are determined by today's investments. so there's a long length of time. the decision and the impact, there's a big time lag here. emissions nds, co2 are determined in today's investments. so if we are not able to get ur act together and give a new impetus to investments, unless there's a major economic downturn we have to say good-bye to the two degrees world. this is what we are seeing. , if you very frank are unable to get the price agreement -- which is the one which could give a signal to all the countries investors and others that climate change is a major issue when you make your business plans. an doesn't go through, international agreement through a ceiling, through some type of allocation of responsibilities, then we had better try to find out what are the ways to get used to in a different planet. >> ok. we're going to take some questions now. we've only got about 10, 15 minutes left. please wait for the mic, identify yourself and put your question in the form of a uestion. >> just a europe question about the price differential you mentioned and the competitive ness issue. is there a possibility that if europe incre

nd it here, guys. so, jared, you have al been, as far as i can remember, a backer of keystone. >> well, i always assumed that the oil was coming out of the ground. this is a particularly dirty form of crude partnership wasn't crazy about it environmentally. i thought as long as it's coming outs of the ground, it might as well go south instead of west considering you would work out some of the issues being debated in nebraska. now being that the economics have shift shifted, it does seem like the in the money strike price for developing that is a battle of will because something north of the right side 90, maybe something between $90 and $100 a barrel, as long as oil remains below that and new forecasts suggest it will for a while, i think the economics here may have gotten ahead of the politics. >> you know, the thing about that, though, is if you think about where the world population is, you've got a billion plus people in india and china raising their standard of living. and i listen to people on this network every day talk about the price of oil. i don't think many people think it's going to stay low long-term u