and there's lng coming from russia. we have a natural resource in my home state and region that would love to be selling our natural gas in this country and into the northeast. how do you respond to that? >> there's no customer prepared to sign the long-term contract to have the pipelines built. the second issue once you have a customer, then you have to confront the siding issue, both in new england and new york. you would have to overcome those two obstacles. i think the decision from a policy point of view for the region do regional policy makers wants to relieve those constraints or work around them. if you work around the constraints, then you either have to turn to alternate fuels like oil or lng and in that sense the jones act doesn't make sense because we're importing lng from far away places and exporting a few hundred miles south of us. >> with the russia lng that has come in. they already a customer purchasing this because the supplies got so low during the bomb cyclone? >> the dynamic is when the lng invento

lng. there's a huge opportunity for just to make money and for those countries to diversify the energy system and make gas part of the system and make it much more flexible and for the europeans diversify the source of imports, and provide, again, a minimizing the economic, social and maybe political risks. >> well, i see my time has expired. thank you, dr. birol, for elaborating what some people may not fully understand about what russian issues are as it relates to europe and to us, and to why some of these things are so important, people in the administration and conflicts and everything else. so i thank you for that. i'll submit some other things for the record. i want today thank my colleague and welcome her to the committee. i failed to do that in my opening remarks. i'm going to turn my portion over to her in the next round and let her continue on my behalf. thank you so much for your testimony. i so appreciate senator smith joining our committee, along with our returning colleague

coming to lng this is a different story. we know that if we unlock the oils we have infrastructure here and the main button is the infrastructure building the pipeline here and the plans but i see here significant marketing chance especially for asia. also, given the advantage. if i may bring to the point i said a few minutes ago, madam chair, today china is moving in the direction of yes, they will import a lot of lng to replace their call and basically and i see that there is a lot of opportunity in china and japan. i often visit japan and made the japanese government there and you may well know they are thankful to you for bringing lng to japan and they never forget this good gesture coming from your governments. to sum up ic from an energy point of view significant chances to provide gas from to the asian region. >> thank you very much. >> thank you madam chair and on that point i think the chair would note that i have many times suggested to her that that should be a good focus for alaska, natural gas, as opposed to the

china and india, us gas, which amount of lng, i am sure asia, the primary destination for us energy and there is a huge opportunity to make money for the us and those countries to diversify the system and make it part of the united system and more flexible and the europeans, a sourcof imports, minimizing the economic risks. >> i thank you for elaborating what some people may not fully understand about what resin issues are as relates to europe and us and why these things are so important, people in the administration in conflict and everything else. i think you for that and i will submit other things for the record. i went to thank my colleague and welcome her, i failed to do that in my opening remarks, i will turn my portion over to her in the next round and let them continue on my behalf and thank you for your testimony, i appreciate senator smith joining our committee along with returning colleagues, a record number of women on the committee, that is a good thing. >> let's go to senator cassidy. >> great testimony. i am intrigued by the electrification of transportation, if you will.

and there's lng coming from russia. we have a natural resource in my home state and region that would love to be selling our natural gas in this country and to the northeast. so how do you respond to that? >> well, i think the first problem in new england is to find a customer for gas pipeline. so i think the structural issue is that there's no customer prepared to sign the long-term contract to have the pipelines built. the second issue is once you have a customer, then you have to confront the citing issue and i would say there's a citing issue in new england and new york. so for us to move the gas from the marcellus shale into new england, you'd have to overcome those two on obstacles. i think the policy decision for the region do policymakers want to make those investments to relieve the constraints or live with the constraints and work around them? if you're going to work around the constraints, then you either have to turn to alternative fuels like oil or lng, and then in that sense the jones act doesn't make a lo

to have the appetite for the pipeline so i read in the financial times that says gas from russia and lng coming from russia. we have a natural resource in my home state and region i would that would love to be selling our natural gas in this country and in the northeast. >> i think the first problem is finding the gas pipeline. the structural issue is that a customers prepared to sign a long-term contract to have the pipeline blown the second issue you have to confront this citing issue. for us to move the shale into new england you to overcome those two obstacles. think the decision from a policy point of view for the region is to regional policymakers want to make those investments or do they live with the constraints and work around them and if you're going to workaround the constraints you have to use alternative fuels like lng and the jones act means you are free importing energy from faraway places and exporting it from terminals a few hundred miles off of us. >> obviously they are to have a customer. have the supplies gotten so low during the bomb cyclone? >> the gas supplied drop

youcountries like the u.k., need to rely on lng, and lng, you are competing with china and asia.emand is in the northern hemisphere. korea, japan, india, china, pakistan, europe, it is all winter at the same time. if you have storage, you can take lng storage and produce it in the winter. francine: how much does it cost to do a storage facility big enough? marco: all these boxes are storage facilities. the u.k. has recently reduced its storage. you are simply pumping the gas back where it was. impacte: does brexit your pipelines? marco: not physically, but there will be issues around which becomes more liquid. there will be an issue with energy in general with ireland and possible impact of taxation. any distortion will be bad for the u.k. and europe. francine: at the moment, the u.k. doesn't have storage. do you think storage needs to be built? marco: storage needs to be built. storage needs government support. we have strategic petroleum reserves in many countries, but with the exception of italy, very few countries have strategic gas reserves. gas is more fragile than oil. we

when you buy lng, think about america first. we have a great opportunity in this country to not only market but to help a lot of countries quality of life with our resources. we've seen texas, as a great example of it. when you shift from older inefficient power plants to cleaner burning natural gas, we saw our emissions really go down, 60% decrease in nox. >> neil: what is nox? >> nitric oxide and sulfur dioxide. >> neil: a bad chemistry class here. let me ask you about this. as governor of texas, you were very effective at recruiting businesses to come to texas and you would get in jousting with various state governors. but now there's a real problem going on in the high tax states like new jersey. the democrats have the run of the table. they control the governors of the mansion. a lot of people are concerned that they're going to push businesses out of the state in new jersey, for example, and some fear that a hike in taxes -- let's say in new jersey, could do just that. >> that's what competition is all about. the people of

david: this is lng largely? terminals is the first able to export on the gulf coast.massive overproduction in the u.s. and needing to get it out where. -- this has the publications big implications for things like the trade deficit. david: isn't this wildly expensive? alix: this is an interesting business model change. typically, if you are going to build and lng export facility, you have to get long-term commitments from buyers or those using your terminal. but the model is changing and people want more spot access, so they are changing business the f idhich changes and changes when they end up getting billed. it is a shift in the industry, especially as we are dealing with global oversupply. david: and that is with the -- alix: so this company has auctioning off parts of your pipeline, so you can own it or sell it. david: fascinating. alix: it will be market moving, guys. and coming up next, jason treader, plus, julianna man u well is back. emmanuelle is back. jonathan: i'm jonathan ferro. this is the countdown to the open. ♪ jonathan: coming up, walmart reacts to t

markety, as we gas,produced liquefied lng, as we sell our technology on carbon capture, being able to use coal in a responsible way to other countries, the department of energy, national labs, 17 national labs are probably some of the best investment that the american taxpayer made over the course of the years because of the basic research that was done and the commercialization of that research to change people's lives. >> rick perry friday night at 8:00 eastern on c-span, c-span.org, and with the free c-span radio app. reportse new york times , several hours after republicans and democrats met with the president to find common ground on the daca program, a federal judge in california blocked the trump administration from ending the program. twittert trump said on it shows how unfair our court system is when the opposing side always runs to the ninth circuit and almost always wins before being reversed by higher courts. on capitol hill, democrats and republicans gave their response. we will show the democrats' press conference first. >> hello, ms. brenda. >> hello, mr. hoyer.

i think the project you were referring to is the lng plan import rupert. port rupert.lf a billion a day, and this is for local markets, so we have big reserves, and the prudent thing to do is look at other monetization options as we go forward, but we will be in canada for a long time. >> looking at the world today, what do you view a the biggest risk to your business? maybe three, not one. talent is something we really invest in, because we need talent to drive the business, especially in areas we are not familiar with. that is what we want. something we are familiar with, and i think the company now is in the stronger position to withstand all the cycles. of the, in terms orelopment of renewables fossil fuels, not one, but maybe those would be the things we closely monitor. petronasthe ceo of speaking in davos. right, take a break. the taiwanese, company making new products from your everyday rubbish. i've got a special report on the way. that is next. this is bloomberg. ♪ rishaad: taiwan is putting its traditional dominance in tech and chips aside to focus on going

we were to require at our lng, a strategic american asset were exported on american-built ships. and the same for the oil that middle-american states. all of that is the art of the possible. we are all about doing this. we are all about making it in america. take a couple of seconds and give you one more example. for those of us in northern california and anyone who wants to tour san francisco and san francisco bay area, you will see a new bridge spanning the bay from oakland to san francisco. it is a beautiful bridge. however, it was a bridge that was built with chinese steel. it was supposed to be 10% cheaper. so they went with the cheap but wound up with steel that had problems and it ultimately wound out to be way, way over the budget. and 3,000 jobs and a brand new high-tech, most advanced steel manufacturing plant perhaps in the world was built in china. no jobs in america. no new steel mill in america, but there was in china. that's what happens when you buy foreign. i guess new yorkers were a little smarter than my california colleagues and so in new york, they wanted to

. >> where are we in the development of lng, are we 10% of where we will be? 50%?t's an industry that comes into the forefront, isn't it >> the u.s. is blessed with natural gas. it will be a boost to the economy. it will have so much of it, it will make sense to export some of it. we have three big plants now i could see ten down the road. >> you're on rosneft's board, aren't you >> i am. >> you deal with the russians all the time >> i do. >> we talk about russia in the news occasionally over here. >> i've seen i have a fair amount of experience in russia i lived there for nine years with my family >> are they horrible or -- are they frenemies how should we few putin? >> i could tell you, i've had some adventures there but never difficulties with the russian government i work carefully within the sanctions. but our experience and relationships there are good i think it's good to have people talking to them. i think commerce can bill bridges. >> you're also not consensus in terms of -- do you think opec and russia will -- that deal won't end immediately. they will c

expire, but the choice of becomen an unauthorized immigrant certainly doesn't come without its risks lngquickly, how are the countries involved in this reacting? is this changing the way they see the u.s. or no? >> the relationship between the trump administration and a lot of latin american countries has been a little bit fraught, not least because to have the way the administration describes the m.s.-13 gang problem and saying the el salvadoran government hasn't don enough about it, the administration considered the america-first ideology to be the center of it an it's managed its relationships with other countries around that. >> desjardins: dara lind for vox, thank you for joining us. >> sure. >> woodruff: stay with us, coming up on the newshour: the golden globes get real-- a look at a monumental night in hollywood. our politics monday team get us up to speed on what's happened, and what's next. and how art can address the lasting impacts of violence. but first, syria's grinding civil war has led to destruction on an astonishing scale. great swaths of syria lie in ruins. but now, pl

lng.carbon capture, being able to use coal in a responsible way to other countries, the department of energy, those national labs, those 17 national labs are probably some of the best investment that the american taxpayer made over the course of the years because of the basic research that was done there and then the commercialization of that research to change people's lives. >> rick perry tonight at 8:00 eastern. c-span, c-span.org and with the free c-span radio app. this week, the supreme court heard oral argument over voting rights in the case of john hue stead, ohio secretary of state, versus a phillip randolph institute. hear the argument in its entirety at 9 eastern on c-span, c-span.org or listen with a free radio app and follow the court's upcoming schedule at c-span.org/supreme court. you'll see a list of all current justices and search their appearances on c-span. with supreme court video on demand you can watch all the oral argument that

important geo-political weapon in confronting russia, probably the most important thing we can do is export lngd the more natural gas discovered in this country the more we're able to do that without risking any kind of energy problem at home. it's incredibly important. it's creating jobs it's creating wealth. upstate new york is a place where they're not allowing fracking. liz: jobless rate 2% in north dakota? >> compare and contrast the states that have ushered this in it's really a great thing. liz: to your point about russia it's like sanctions on steroids. >> exactly right. liz: we love having you on the show, read liz peak's column great writer good to see you liz also great for fox news. and look at this story we're bringing an msnbc guest they is a former o bomb a state department official tried to link president trump's tweet about having the bigger nuclear button somehow to sexual harassment. we're serious, conservative comentator ashley pratt says do you know what that's just crazy that's next stay right there. liz: we got this market story for you. reports coming in that the ceo of

but this is a pros es going on for a lng time.early in the campaign trump went down to texas says there has to be a wall in some places. and we have just seen a new iteration of that. but i do think he needs some physical solid structure, somewhere, that he can call a wall. >> sew can say to his voters i built you a wall. >> yeah, signature promise. promise that got voters up the most, chanted back, and he wants to deliver that in some form. now, look, he's a great booster, give him five miles and he can make it look like the greatest structure in mankind but needs the five miles. >> stay with me. i have more for you. just in to us at cnn chief strategies steve bannon lawyering up. we'll talk about the significance of that move. also more breaking news, one democrat is now telling us more people knew about that trump tower meeting than previously known. but republicans aren't allowing them to be interviewed. that's a big, big deal. stand by for that. she's nationally recognized for her compassion and care. he spent decades fightin

qatar supplies about 30% of the world's lng. if something were to happen that would take qatcqatar out of the market certainly something we keep an eye on. we also then ask ourselves what if that happened? we think about the other issues. what if something like that were to happen what are impacts on the other markets? you can see in the report we look at natural events. in the case of the -- really impressed us as the relative fur tillity of the supply chain. we are drawing lessons from the past rather than looking ahead. >> thank you. this is a followup question. i'm wondering in terms of looking forward, as you mentioned china domestically is reducing the coal because of demand and the new technology, when you look at its investment oversees, especially through the one belt one road initiative, do you see that they are going to maybe apply similar routes. are you tracking those kind of regulations or do you think this will effect the coal market in general in the southeast asia area? >> well, we do see china involved in coal

they expect a significant increase in annual lng production at its facility coming online.this. ore output rising 3% on improved rail and plant performance. shares of 1%. a performance putting it on target for record annual production. output was 61.6 million metric ins when the month ended december. 60 million tons a year earlier. the world's biggest miner cuts targets atal output the broad meadow and blackwater site. international energy agency said it may revise u.s. oil production forecast if prices remain at current level. is forest forecast liquid output to grow 1.1 million barrels a day in 2018, up from 540,000 barrels last year. agency will publish its monthly update on friday. executive director told us that india is taking the lead from china and driving global demands. there is a huge demand for energy. india is moving to the center stage of level energy affairs. with china slowing down, india is coming forward. bank of korea issued the policy decision and less than an hour time. thisange in rates expected time. economists are waiting to see if officials to make

-produced liquefied natural gas, lng, as we sell our technology on carbon capture, being able to use coal in a responsible way to other countries, the department of energy, those national labs, those 17 national labs, are probably some of the best investment that the american taxpayer made over the course of the years because of the basic research that was done there and then the commercialization of that research to change people's lives. >> rick perry friday night at 8:00 eastern on c-span, c-span.org, and with the free c-span radio app. >>> and now senate foreign relations committee ranking member ben carden and congressman will hurd, a member of the intelligence committee, talk about the immediate need to address russian interference in elections around the globe and what actions can be taken to prevent future efforts. the german marshall fund in washington, d.c., hosted this event yesterday. it's about 90 minutes.

-produced liquified natural gas, lng, as we sell our technology on carbon capture, being able to use coal in a responsible way to other countries, the department of energy, those national labs, those 17 national labs, are probably some of the best investment that the american taxpayer made over

-produced liquefied natural gas, lng, as we sell our technology on carbon capture, being able to use coal in a responsible way to other countries, the department of energy, those national labs, those 17 national labs are probably some of the best investment that the american taxpayer made over the course of the years because of the basic research that was done there and then the commercialization of that research to change people's lives. >> rick perry, friday night at 8:00 eastern on c-span, c-span.org and with the free c-span radio app. >>> this weekend on american history tv, on c-span3, saturday at 8:00 p.m. eastern, lectures on history, legendary college professor james broussard on the leadup to the american revolution. >> we had a tax on the things the colonists imported, paper, tea, lead, big surprise, more outrage, more anger, and more fear. >> sunday at 4:00 p.m. on real america. >> he learns techniques to sustain himself in distant reaches of the jungle, or an arctic waste land, above all he knows the ultimate challenge, adjust or die. >> on american artifacts, a preview o

last night had i suki on and ge is his partner on large lng infrastructure project, one of the largestrojects in the country. jacobs, floor, aes, could they be part of a multiple group of buyers that is interested in the hobbled and i mean hobbled like in the movie "misery" -- what, james kahn's best work. >> i had a vision of that hobling. >> he do believe if you look at these company, they might buy the power division fz john flannery sees it's time. >> that's interesting. >> they don't have the balance sheets to do it right now. but when you look at floor, a really great company, stock got hit badly in the '80s because it was so big in south africa and divest tour killed them. i think energy and reconstruction is coming back. maybe ge gets a tailwind there like they are with oil january fl maybe tussa will say -- imagine if he said the worst is over that would be depend on the facts which totally limits him. >> here yesterday, didn't seem to suggest that the risk was over -- >> not john lynch, you don't want to bring that guy to a dinner table until you want debbie downer. >> deutsc

large increase in november, and the lng trade is expected to increase to about 120 billion dollars, soink this is going to be sustainable than? -- sustainable then? >> probably not, to be honest. far, they have defied gravity and defied expectations. i think the solar industry in china is quite strong. it has good on the mental and 2018, we will see a repeat of 2017, but at some point, we will have to see a correction in the market in the sense that solar projects being built in china will have to look at returns and they will probably not be breaking records every year. insights.ou for your still ahead, standard chartered's asia strategist talks with us about the rupee. this is bloomberg. ♪ >> this is bloomberg markets asia. extended gains made it a top currency wager. options traders are most bullish on the japanese currency. fx rates editor joins us now along with standard asia editor. we were just speaking about dollar capitulation. rebound in seeing a the green soon. what does that mean for dollar-yen? >> it has been an interesting morning. dollar-yen continued to tank, almost app

lng and other -- >> yeah.sure, i would love more ipos, but it will drive free enterprise down into the smallest business. the person with one well or a dream to start a business. it will make it easier for them. ultimately it will lead to more ipos, i'm focused on that as i am the big businesses in davos >> freeman is here from the nasdaq do you look at him we walk on the other side of the street >> is it like this >> yes >> you're frenemies. >> we're frenemies they serve a role in the capital markets, we serve a role we each have our niche >> competition is tough for uber, right? >> for an ipo? >> yeah. >> we do well on the large ipos. today is the 37th straight large ipo of the united states to pick the new york stock exchange. five years, 7$700 million, 37 i a row. we do well the competition will be intense. >> dara is here. travis kalanick is here as well. which is its own strange thing >> i will repeat what i heard publicly, dara said they will ipo. it looks like it will happen in 2019 >> i hope you're on