most analysts put the average cost to bring a barrel of oil out of the ground at around $70 a barrel. and with oil's recent collapse in price below that level, people here while still confident, are looking ahead. >> plans are being made this year. and i don't see a slowdown. there's a lot of infrastructure put in place. there's a lot more wells still to be drilled. >> reporter: most agree these prices won't stop the boom at all once. the companies here are more efficient than others and can withstand the lower prices at least for now but is the real threat to the newer higher cost producers? many may need oil prices above $80 a barrel to keep justifying the ratesing running. if prices stay at this a few months boom could come to a halt as quickly as it started. here in canada oil's price collapse is front page news. and while consumers love the drop in the price of gasoline the oil producers and the canadian government do not. rapidly falling oil prices hit everything from government budgets to infrastructure building to the canadian dollar and jobs. massive canadian company seon cor

and by $3 per barrel on april 1st. i will take actions to reduce undue hardships on any geographical region. they will be rescinded when the broader but necessary legislation is enacted. so that end, i am requesting the congress to act within 90 days on a more comprehensive energy tax program. it includes excise taxes and import fees totaling $2 per barrel, on product imports and on all crude oil. deregulation of new natural gas and enactment of a natural gas excise tax. i plan to take presidential initiative to decontrol the price of domestic crude oil on april 1st. i urge the congress to enact a windfall profits tax by that date to ensure that oil producers do not profit unduly. [applause] the sooner congress acts, the more effective the oil conservation program will be and the quicker the federal revenues can be returned to our people. i am prepared to use presidential authority to limit imports as necessary to guarantee success. i want you to know that before deciding on my energy conservation program, i considered

and how come they're not making money at 47 bucks a barrel in. >> you talk to them. and they continually talk about the stifling cost of regulation, and this is not federal regulation. they're talking about the state of pennsylvania, which has been rather welcoming to fracking and they complain about that. but moreover, it's the fact that their -- you notice the refinery there, it's captive to that local refinery, and if the refinery doesn't find it profitable, and profit margins are thin, and in this case this is lubrication oil that they mine there, then the refinery can't use their product, and they have no place else to go, and that really is one of the determining factors of whether they can continue to stay in business or just choose to shut down. >> and then you have the situation that got us in america, where regions and towns are built around particular industries, and the gentleman said that, if the refeignry doesn't have enough oil, god bless bradford. >> one exception, they have the world headquarters of zippo lighters, and that keeps them on the map. but

we use 18 million barrels per day and there are 92 million barrels produced every day and we are using 20%. china is using 10 million barrels a day, we are twice as addicted to oil as the chinese but here we are in a position -- if we just had leadership in washington, what could we do? i'm serious, i'm talking about energy not anything else. today you put together canada mexico the united states and north american energy alliance and you can tell them to forget it, we have independence in north america and that is it. can we go to independence, right now we are 9 million barrels per day, half of what we are using and importing the rest, most of it comes from canada and some from mexico and i said 3 million from opec, we could put north america together and we got it, but i cannot get leadership in washington to even focus on energy, the reason -- >> is what all the sessions have been about, the things that make it difficult to do things in d.c. now and more productive on a state and local level to how much of your plan for natural gas could actually be done at the state level where yo

right now, 3.2 million barrels. we are using every day in this country twice as much oil as the second country to us on the use of oil. we use achingly in barrels a day. there are 92 million barrels produced every day in the world. we're using 20%. china is using 10 main barrels a day. we are twice as addicted to oil is the chinese are. here we are in a position. if we just had leadership in washington, what could we do? i am series. i'm talking about energy. on that talking about anything else. today, you put together canada, mexico, the united states in a north american energy alliance and you can tell them forget it. we have independence and north america. that is it. can we go to independence right now? where producing a must 9 million barrels a day. we are producing half of what we're using an importing arrest. most of it comes in canada. some of it for mexico. and 3 million from opec. we could put north america together. i can't get leadership in washington to even focus on energy. the reason -- >> the reason

below $100 a barrel or below 50 a barrel. gas prices in south carolina, $1.65 a gallon, $1.80 a gallon. diesel fuel, $3.20 a gallon. i wish it would come down a little less for diesel fuel. but what does that mean? what does that mean as we focus on the things i've been talking about really for four years and that's expanded energy here in this country. what can we do to unleash and unbridle this spirit when it oo -- to unleash that spirit when it comes to energy? when you think about energy, it really touches on every state, every congressional district and every american. i mentioned a second ago the price of a gallon of gasoline now. i said in november i was speaking to a group in south carolina. i said that for every 50 cent reduction in the price of a gallon of gasoline means about a $10 savings for moms and dads per 20-gallon fill-up. we're well below a 50 cent reduction now. we're well below a dollar, so that's a $20 savings, and some are realizing $26 savings per fill-up. think about how that translates for moms and d

and, right now, although we get 2.2 million barrels, we are using __ 3.2 million barrels, we are using in this country the second most oil __ we is 18 million barrels of oil a day. we are using 20%. china, using 10 million barrels per day. so we are twice as __ i guess __ aaddicted to oil as the chinese are. but here we are in a position. god, if we just had leadership in washington. what could we do? i'm serious. i'm talking about energy. i'm not talking about anything else. but today, you put together canada, mexico, united states, and north american energy alliance, and you could tell them forget it. we have independence in north america. can we go to independence right now? we are producing almost 9,000,000 barrels a day. so we're producing aalmost half of what we're using. importing the rest. most of it comes from canada, some for mexico, and the rest from opec. if we could put north america together, we have __ but i cannot get the leadership in washington to even focus on energy. the reason? >> the reason is what all the rest of the sessions today have been about. they make it d

goldman told us they think the futures could get to $41 a barrel f. anything that just hastens the recent decline we have seen here. there are those that are starting to speculate we might bottom out around the $40 a barrel level. to be honest a lot of analysts don't have a huge clue as to how low this goes. the saudis and other major producers right now are saying they are comfortable with the price. until they say they are no longer comfortable, we will see the price per barrel continue to decline. shopping market activity we are expecting a positive start. in terms of data point, we got a small business survey. i think the most interesting thing will be to see how these companies say they're doing in the light of the lower oil price. back to you. >> jeff the other day, we had talked about the new chevy bolt and where the price point was and tesla looking for that elite buyer. but we will hear from elon musk that maybe i can afford one of these suckers? >> i know what you mean. they look gorgeous don't they? >> yes. >> the price tag is way above my

oil below $60 a barrel. what it means for the markets in the middle east after the break. ♪ >> welcome back to on the move. you've seen the impact on the stocks in the middle east and the index is down this morning. for more on the stories, we are joined by ryan chilcote and elliott gotkine. we will get to you in a second. we will start with the big move in oil. many indexes have big oil. >> you saw it drop yesterday. that was responsible for about a quarter of the decline in yesterday. you saw it down and bp was not spared. a big broad-based decline yesterday throughout the day. bp is unchanged. we saw it come up a little bit and it is back down below 50. it is around there and the next to watch for is $50 a barrel. >> again, we're going to bring elliott back here. we have seen the big oil makers. a substantial read across this morning. >> i would say that the middle eastern markets have been declining today and it was down. it has clawed back some of the losses. the market has not managed to eat out a sing

hopefully oil will not stay at $50 a barrel forever.they can get through the next budget cycle, make tough decisions, get through it, if oil prices decline at the end of 2015 or early 2016, states will have more breathing room. we are in the mid year cycle. they need to get through the next budget cycle. >> so this 11 impact on the broader economy. what is it going to be and what are the first negative signs folk should be looking for? >> negative gdp. north dakota's unemployment rate 6.4%, texas, under 5%. does that trend reversed? also gdp -- alaska pro economy contracted 2.5%. does that get worse or better? those are some of the signs that we are going to be looking at. >> ok it seems there has to be a silver lining. is any good going to come from this? >> the good news is states have a fairmount of flexibility and what they can do or how they can balance their budget. they can cut back on's bending -- on spending, state aid to local governments. states get a lot of money from sales tax revenue, so if you look at the sales tax collec

to break even it needs oil prices of $140 a barrel. algeria needs at least $122 a barrel. and venezuela and nigeria need $120 a barrel. russia is not far behind needing $105 a barrel and angola needs oil prices close to $100 a barrel. >>> all right, we'll take a very short break now but next here on cnn, these students in syria don't have a school anymore but can still go to class. more of our special coverage this week from aleppo. >>> also ahead, the legal actions taken in response to a sex abuse lawsuit naming britain's prince andrew. we'll be right back in a moment. return on investment isn't the only return i'm looking forward to. for some every dollar is earned with sweat, sacrifice, courage. which is why usaa is honored to help our members with everything from investing for retirement to saving for college. our commitment to current and former military members and their families is without equal. start investing with as little as fifty dollars. discover card. how can i help you? oh, you're real? you know i'm real! at discover, we're always here to talk. good, 'cause

we've got about 40 million barrels of oil nearly 40 billion estimated bear barrels of oil in our federal areas and this is offshore in the -- in the chukchi and in the beaufort on our coastal plain within the npra. we're not looking at a situation in alaska where we are running out of oil or about to run out of oil. our problem straight up is our our -- our limited ability to be able to access it. the holdback that we get the pushback that we get from our own federal government, the policies that keep us from being able to access that resource this has been our challenge. now, back to the keystone x.l. pipeline. the keystone pipeline, it's not going to be carrying any alaskan crude. don't get a mixed message here. we've got a pipeline for that. we've already built it. it's just waiting to be filled back up. so our need isn't infrastructure in alaska but really permission consent from the federal government to access our lands access our waters to achieve that energy potential. so when i'm talking to alaskans about the imperative for keystone and how it intersecretaries with -- intersects

russia's average break-even point is around $98 per barrel.ll cross over to nadine barber to see how the drop in oil prices is affecting jobs in the energy industry there, but first let's go to peter sharpe who is in moscow as we heard the russian economy is starting to struggle. tell us about the pinch and how it's being felt there. >> well really it's all a result of russia's total failure to reduce its dependency on exports of gas and oil. for every dollar knocked off of a barrel of oil, costs russia $2 billion. and russia still depends on more than half of its annual income on revenues from gas and oil, and of course it is playing mary hell with the economy. late last year putin signed off on a budget that assumed, that assumed, quite wrongly, that the price of oil would be near $100 a barrel it's nowhere near that. and the finance minister stood up and said look we are going to have to slash expenditure on every department within the government except for, wait for it the defense ministry no surprises there, and then he said that might no

the price of oil and $40 a barrel to $18 a barrel in nine months ended bankrupted the then soviet union. that is one of the key factors in the fall of the soviet empire. what is going to happen? the united states has a manufacturing renaissance. at the same time that the bad guys go broke. now let's look at china. china will take over the world. if you look at china they are demographic time bomb. i was in china, i was in beijing in the spring and it was a beautiful, sunny day and i went to central park and i live in new york. when i go to central park on a sunny spring day what do i see? you see mom two strollers, two identical twins because of the reasons. you see a lot of little kids and you see dad and maybe you see granny and they are all hovering and there's a dog too. you go to china, central park, what do you see? one of boy child who is 3 years old and four sometimes six covering adults use the mom, dad, granny, gramps those six adults, looking at that child's, they have a term for that, little emperors because of the one child policy the chinese have a much higher percentage o

see how the barrel is hot, activating the ionic styler? teeth stay cool and the perfecter has an automatic shut-off feature that makes it so safe, even a young girl can use it. >> i actually happened to see that there was a young girl in the audience. would you mind coming down so i can show how easy it is? [applause] >> oh, how cute. >> oh, my god adorable. >> what's your name? >> maddie. >> how old are you, maddie? >> i'm 10. >> patti: maria showed maddie how with just one stroke you can easily put in a beautiful curl with amazing results. >> just roll that through and get that to bounce. >> look at that! ...our next volunteer is ally. frustrated with her long unfinished hair, maria showed her how easy it was for her to brush in shine and give her volume. >> look at that. >> instantly, look at that. >> see how that's smooth? >> that's amazing. ...the perfecter will work on short hair as well like cheryl's. even on coarse, frizzy hair like jessie has, with just one pass. >> look at that. perfectly straight from the scalp down. turn to the

for the government for fiscal year 2016 is $70 a barrel. the number they are sticking with for next year. $78 a barrel. based on where we are today that would be too high and could force another opportunity for more savings. >> that is pretty remarkable. i am looking at the curve right now on futures. you cannot find a price next year about $50, no matter how -- about $50, no matter how far you try. >> when omb sets that number, they are setting it for the department of transportation and every aspect of the federal government. for their baseline budgeting that number could already be inflated. >> peter cook at the pentagon, saving a great deal of money. $2 billion on cheap fuel. >> when we return, almost 2 centuries old and going strong. this ain't your daddy's brooks brothers. we will be speaking to the ceo. ♪ >> welcome back to "market makers." hundreds of top fashion executives gathered in new york city. last night julie hyman sat down with brooks brothers' ceo and chairman claudio del vecchio to discuss how the brand is staying relevan

. >> >> new section on fire works and on barrel bombs. there is a training plan in place. i have been teaching classes up at the academy held every week for the last five years. many of the items that you see in the revised general order i have talked about and lectured about and told them they could see this coming in the future because of the changes. however, they were not act upon them until it's ratified by the commission but they're educated on this. we further train all recruits prior to them coming out to the streets. we have a four hour block we teach in regards to bomb response and general order 808 and hazardous materials. that will material. at this time i would like to ask the commission if they have any questions regarding this document? >> commissioner de jesus. >> i hope you say it's extensive and it is and what prompted this and you answer 2-d and there is changes in the code and that's good to know. i assume we're complying with best practices regarding explosives and firearms and i see the new definitions and it's pretty thorough and commissioner wan and

just broke $50 a barrel. it's now trading at $59.49.04 a barrel. a fresh new 5 1/2 low. trading just above $51. a big move in oil. is this the new normal or perhaps at this point will find a bottom in oil? >> in the meantime it's add to go risk off sentiment. did just dip below 2% a moment earlier. it's the first time it's done that, of course for a while. it's bang on 2% as we look at things. and the german ten-year yield fell below 0.5% today, as well. i have record lows coming in the european bond markets and that general sentiment is spreading to both the u.s. and the uk even though the prospect of further quantitative easing is not one of the factors applying to those two markets. let's take a look at forex. the u.s. dollar with a nine-year high against the broader index yesterday. today, it's given up a little bit of those gains against some of the currencies. the yen has bounced back 0.6%. 118.9. the euro, 1.19 so far today. sterling, as i mentioned earlier, off the back of that weak services data is at 1.519, down 0.35% today. >> now some corporate news, verizon

we dropped below $50 a barrel for a few moments this morning. there still seems to be some debate about what this means. there was an argument that it is good for the global economy. i look at the market and still see the same thing. >> i think the driver for the following oil prices not just the increase of supply, but also the increase in demand. most of the big increases are coming from emerging economies which are running at a slightly lower growth rate. you have a supply-demand imbalance. more importantly, the fact that the oil price is falling as fast as it has in the last few months means that the inflationary impact is that a year from now, we are looking at the global level that the inflation rate will be half of where it will be otherwise. that means the real interest rates will be rising would imply tightening. the consequence from the bond market is to reduce bond yields which is exactly what you have seen. bond yields are coming down so at a nominal level they're coming down but the real level needs to go down further. we would expe

$50 a barrel. >> very symbolic indeed. we talked about this a lot leading up to the end of last year. i used to say to you, how low can they go? they just keep defying the odds and keep dropping. $48, just over $48. $50 a barrel at the moment u.s. brent crude is around $51 a barrel. it is a very similar story to why we started seeing the falls. let me just put this into context. the price of a barrel of oil has lost more than half of its value since the middle of last year in six months. they have fallen off a cliff. it is supply and demand. so the supply -- the world is awash with oil at the moment. nobody is cutting production. everybody keeps looking at saudi arabia opec's biggest member to cut production. it doesn't want to cut production because anybody who blinks first, cutting production will lose market share. nobody wants to lose market share. on top of that just yesterday, we heard that russia big oil producer, and iraq opec's number two, have increased production. they need to put more oil out there so they can

we are at $47 a barrel as of right now.2 drop bringing the drop of the last couple days to near 10%. another big story happening now the yield on the tenure treasury down 1.90% this is a spike down in the yield, is unusual and it is happening right now land that has spooked the stock market. the search continues for two suspects who allegedly shot two cops in the bronx last night, new york city, sustain non-life for ending injuries, they were investing in arm robbery, they were not targeted. meanwhile there are reports the second week in a row, tickets on the rest are down across the city. this is the fight between bill deblasio and the police department. liz macdonald is here. >> there are threats against the police, that they are sitting ducks, more police could be targeted for assassination. there are dozens of threat under way. my brother-in-law's firehouse was shutdown next to the precinct where two cops were assassinated, where they walked out of and the firehouse was shut down on christmas eve because of the threats.

it will be a little while before he hit $200 a barrel.ng us now is the president and founder of the group at the former white house adviser, $200 a barrel, your that statement and you think, what is that guy smoking and then you think more about it $200, how far off as that. >> i don't think it is that far off at least in terms of the price level, it will take us several years to get there but what is becoming increasingly clear is we are in this new boom bust phase of oil prices. opec has abdicated its role as the swing producer and the market balancer, what we will relearn is something we have forgot since the 1920's, when the oil market is not being governed by somebody manipulating supply, let's call it what it is, the price of oil tends toward wild gyrations. i think we will get closer to 30 four he hit 200, but after we destroy the supplier we are about to destroy and demand comes back. i wouldn't be surprised by one hundred $40, $150 or $200. >> let's talk about destroying the supply, a total u.s. production, we can raise the chart

oil prices fell below $50 a barrel.nd many market watchers say it could fall below 40 or even $30 a barrel before going back up again. world currencies has plummeted against the dollar which is bad news for u.s. exporters. it makes u.s. products more expensive to buy abroad. meanwhile the federal reserve is expected to raise interest rates sooner rather than later. i'll have more on that later in the show as well. but the fear in the market over sales earnings and rates is playing out against an increasingly global backdrop. political tension is more heated than at any other time since the cold war. both russia and the west are waging active economic war fair against each other over the crisis in ukraine. the obama administration is said to be weaponizing financing. it dangles access to u.s. capital with one hand and sanctions with the other. meanwhile europe's economies are just stagnating but now contentious internal politics in greece germany, and elsewhere could make all of that worse. all of this breeds global unce

seven million barrels of crude a day. so this line would possibly furnish 830,000 barrels of that dependency that we have. let's look and see where it comes from right now. 2 1/2 million barrels we're already purchasing from canada. the best ally we could possibly have the best trading partner the number-one trading partner 35 of the 50 states have. so it's not unknown there. so let's look where we're purchasing the rest of the oil. we purchase 755,000 barrels a day from venezuela. 755,000 of heavy crude from venezuela. and let's look at venezuela where it's -- where it's an authoritarian regime. it violates their citizens human rights and puts down protests with horrific violence. we also purchase 1.3 million barrels a day from saudi arabia. we all have our concerns about saudi arabia and a lot of the money we follow goes into the wrong hands. 42,000 barrels a day from russia. from russia. and we know what their intent and what they've been doing with their energy policies and their regime has invaded its neighbors and a

or $50 a barrel. one of the negotiated deals between the states of north dakota and montana in support of this process, 2,301 days ago that at least 100,000 of barrels a day would be reserved for bark and crude. we move 71% by rail. we have seen the challenges with rail. safety is a major one. but 71% that is equipped and frankly required to move food to hungry people, commodities to markets around the world. so that 100,000 barrels per day freed off of our railroads is 10 trains a week. i'm for trains. all of the above transportation is important, but 71% is an inappropriate i think imbalance. for those reasons, 2,301 days is long enough for the president and congress. we know plenty about this issue and i appreciate the opportunity and i encourage a good rule that moves the bill move -- forward and passed this week. >> we are products of our environment where we are from or where we are from. i remember when i was in high 1973 oil embargo and held hostage by people that had something that we not onl

all year long. >> is $45 a barrel what you're working on now?> is one of the possible scenarios. a possible scenario that generally that should be a little bit higher. in case it would be the price the decline would be between 4%-5%. >> how long do you see a recession lasting? >> it is dependent on the global market. [indiscernible] a positive gdp performance. >> what does the price of oil stays low around $45 beyond this year? >> something like $170 billion [indiscernible] now it's something around 10 billion rubles. it is 3 trillion. hopefully, more than budget spending that the oil prices is important for the budget and losing something with the oil price. but we knew in terms of budget. >> for more, let's cross to ryan chilcote, he is standing by. we will be hearing more from that interview later this morning. give us a sense of how confident government officials are about country's future. >> you know, i think they are trying to put on a brave face. you get a sense they do not know how it is going to play out precisely because they do not k

75 bucks a barrel, you're assuming they will go back up. when we will hit bottom? i think when gundlach was asked, he said no one will know until they stop falling. >> well, that's right. and our price forecast is $70 in the first quarter. $75, $75, second and third quarter. and then $80 in the fourth quarter. and our projection is in the context of 1.5% to 2% global gdp growth. so that type of ghchltdp growth to get you about 7,000 barrels a day, pick up in demand and the your supply is consensus is about 1 to 1.2 million barrels a day about that. >> are we at about tbottom now? >> that would be a call for a technician. >> you're relatively new at roth. are all those companies able to withstand this price level, and if so, for how long? we think you'll see a lot of cuts to cap ecut s to capex. all have hedges in place. so we're not concerned about 2015 financial strength. >> are there companies that won't be able to make it? >> there is plenty of leveraged companies out there. the high yield market has been very strong. and companies have

seven million barrels of crude a day. so this line would possibly furnish 830,000 barrels of that dependency that we have. let's look and see where it comes from right now. 2 1/2 million barrels we're already purchasing from canada. the best ally we could possibly have the best trading partner the number-one trading partner 35 of the 50 states have. so it's not unknown there. so let's look where we're purchasing the rest of the oil. we purchase 755,000 barrels a day from venezuela. 755,000 of heavy crude from venezuela. and let's look at venezuela where it's -- where it's an authoritarian regime. it violates their citizens human rights and puts down protests with horrific violence. we also purchase 1.3 million barrels a day from saudi arabia. we all have our concerns about saudi arabia and a lot of the money we follow goes into the wrong hands. 42,000 barrels a day from russia. from russia. and we know what their intent and what they've been doing with their energy policies and their regime has invaded its neighbors and a

your answer -- >> the oil price below $50 a barrel.modity traders are convinced this is an overshooting of the market to the downside. if we take into consideration the economic fundamentals, a fair oil price should be at $60 or $70 a barrel. that's why most traders are convinced that the current downswing of the oil price should be short-lift. still, the events on the oil market have made people here uneasy. high volatility, heavily rising and sinking prices -- that is a sign of extreme nervousness and uncertainty among investors. if prices are going to be volatile even more, this is bound -- not bound to create trust and confidence in the markets. >> here come the market numbers, starting in frankfurt with the dax, ever so slightly down for the day. stoxx 50 there'd a bit worse 0.5% down. in new york they are still trading, but the trend is also down by over 1%. the euro is climbing slightly against the dollar. >> the plunge in oil prices underscores the declining consumer spending and the threat of deflation here in the eurozone. co

it needs oil prices at $140 a barrel. we're nowhere near this. algeria, needs $1 2 a barrel. venezuela and nigeria each need $120 a barrel. angola also needs oil price offense close to of about $1 00 a barrel as well. and russia needs oil pliesrices at $105 a barrel. china is benefitting in the slide to oil prices. will rippley joins us live from beijing. i want to talk about venezuela. they're a major customer. what is he looking for. how is he looking for china to help the economy amid china's oil prices. >> the official line is that he's looking at a new project. new opportunities here in asia meaning not only with china, but also with other opec nations. but the reality is venezuela is looking for a lifeline here. they already received more than $50 billion in loans. and now they're asking for china to write another big check, billions more essentially to bail them out. you saw that map there. remarkable for a country that relies on oil for almost 96% of its exhort income. a huge part of its gdp is oil revenue. when you have prices below $50, when you're budgeting for $12

and my state alone produces 1.2 million barrels of oil a day and we're moving 700,000 barrels a day on trains because we can't get enough pipelines. so here we want to put 100,000 barrels a day into this pipeline and we've been waiting for six years, putting more and more oil on rail cars, congestion on the rails can't move our ag products and we've been held up six years. but in 2012 we passed that bill, this body passed it and the house went to the president and he turned it down said the routing wasn't just right in nebraska. there had been objection in nebraska. here you see the pipeline goes through nebraska, he said i'm not going to approve it at this point because they've got to square it away in nebraska. so in nebraska the state legislature, the elected body of the people went to work with the governor, dave heineman, a good friend of mine, and the senator from west virginia as well we served with governor dave heineman. the elected body of the people, the legislature went to work with the governor, they want through a long process they rerouted the pipeline to address any con

training is below $45 a barrel. -- trading is below $45 a barrel.nge and oil prices. the british inflation rate hasn't been this low in him was 15 years. consumer prices rose one half of 1%. they will write an open letter explaining

that was when oil was at 95 a barrel. within the next month, oil went up 15% to $110 a barrel. where are we now? all the way here. starting to see that increase. that's one thing starting to tell me, you know what, the bottom of oil is very close. i don't know if it's tomorrow, i'd look for reversal, but this is one thing you absolutely have to keep an eye on. >> you're watching this in relationship to this chart? >> i will put a trade on in oil when i see a reversal. thought today, i tried to buy some options, risk/reward wasn't there, but i have a trade at the end of the show i will buy tomorrow. >> that's called a tease. >> absolutely. >> brian's right. we've said this, you know, buying the integrated oils or buying, i think, some of these mlps, you get to a place where i would maintain we are at a medium term price, marginal price where anything below where we are makes zero sense, therefore, we should be seeing a bottom. i think it's overshooting now. integrated off 10%, time to buy them back in. i would go there. >> we have an alert here on "the interview." julia? >> sony

plus, boonepickens with his -- if he is sticking by his $100 a barrel oil call. why housing may be starting to slow, but, mandy, wow, tech stocks, pretty strong. >> yeah, they really did. this week really belonged to the techs. the nasdaq is up for the fifth straight day, and it's definitely its best week in three months. the s&p tech sector is also leading the way. up over 3%. within that sector, brian, both classes of shares have tacked on over 6% so far this week. >> all right. let's call today's show sesame street signs because it is brought to you in part by the letter e. your top stories include earnings, the euro, and energy. we are, of course, covering it from all fronts. bob will tackle earnings. sarah all over the beaten up euro, and jackie talking energy in the oil pits of new york. bob, kick us off with big earnings names trying to help the market today. >> it hasn't been a great earnings season so far, but we're getting into the heart of earnings, and we're getting diversified companies industrials and consumer names, and it's a little better. look a