the arctic council official in took up a month to gather all the arctic partners created in two worlds and those are the arctic shore coal which is an open international platform where any state can come china japan korea singapore france germany italy which a lot of the mothers or business companies or and my own mental organization or the shame level and interest your projects on the bishop but also be extended and this has turned out to be a better model so now every year in iceland in october we have over two thousand petitions bunch it's the largest annual international gathering on the altar from all of the sixty countries where all these country. i mentioned have accepted to shun the delegation representing their policies on the protests and then to answer questions from anybody in the oath you whether to show young children an activist or a political leader and in addition to please we organize full remission all the parts of the world more unscathed but though very prominent last december we had one in korea we will have one in china next month on china in the arctic we will f

institutional structure to tread to the lunches surgery and i will explain that you mentioned the arctic council the arctic controversial intergovernmental body of the arctic stage with a number of options. but i had to gather all the arctic partners created in two holes and those are the arctic shore coal which is an open international platform where any state can come china japan korea showing up or france germany italy which a lot of the mothers or business companies or and my own mental organization or the shame level and interest your projects on the bishop but also be excitement. in the public square and anybody can ask them questions and this us turned out to be a better show just for models so now every year in iceland in october we have over two thousand petition puns it's a lot just on your international gathering on the often from more than sixty countries where all these countries i mentioned have accepted to shun the delegation representing their policies on the proto and then to answer questions from anybody in the oath you whether to show young children an activist or a political

importance for its maritime trade routes and untapped natural resources the chairman of the arctic economic council taro sauté they excuse me told us i'm out of some of the most important topics discussed in this year's. the asian interest towards the arctic areas has been really increasing throughout the past five years you look to china you look to south korea you look to jump on the eve and to singapore and india and i think that actually we simply cannot forget the climate issue and why it's nice he says because of the fact that the changes in the climate which affect the arctic and then. things like monsoon and tried periods and so forth are really really busy building in the asian countries and that's i think one of the main worries for their priest interest in the issue which the second important area of course is the natural result is the potential for those that's how it does has also linked to the climate change because climate change actually provides new access to some of the natural resources each where more or less on accessible twenty or thirty years ago and a fourth important thirty

we are grateful to our foreign guests, to the representatives that are the countries of the arctic council leadership, as well as understanding that we've got a joint response ability for the future -- alix: the arctic trade routes are changing because of climate change. david: it is changing the whole world in terms of commerce and trade being able to go across the north pole, essentially. this is also against the backdrop of a russia that has been at times isolated, and you here,minded of nato forming an alliance with the fellow arctic countries. we will continue to monitor this and get headlines from mr. putin's remarks, as well as the question-and-answer period. we returned to america's small businesses. they are often an indicator of how the economy is doing overall. for the latest, we turn now to bloomberg's taylor riggs. taylor: so far the overall takeaway is so far, so good. index atthe confidence thehighest level since previous month. the biggest negative factors on the index were current inventories and expected credit conditions. another thing that caught my eye was labor costs.

national petroleum council which is an advisory group to the department of energy and a couple years ago they released a big report basically saying we need. you know open up the u.s. arctic to new drilling and the reason that they're pushing to open up these new fields for exploration is because of the things that you're talking about a big achilles' heel with which shale oil with fracking is it's significant what's known as depletion rate which means after the first year the production that you get from the well falls off a cliff so in order to increase your production you've got to re frac that well basically on an annual basis and so that costs a lot of money it uses a lot of energy resources a lot of water like you pointed out i'm not sure that the markets are viewing fracking as a failure after member chevron just paid fifty billion dollars including debt to acquire a rival anadarko and that really was about acquiring shale assets in the permian basin the companies can make money on losing assets absolutely because it's a party's game right and you can make a money out of causes game right and they can bail out six tracking money losing operations by i and other fra

national petroleum council which is an advisory group to the department of energy and a couple years ago they released a big report basically saying we need. you know open up the u.s. arctic to new drilling and the reason that they're pushing to open up these new fields for exploration is because of the things that you're talking about a big achilles' heel with which shale oil with fracking is it's significant what's known as depletion rate which means after the first year the production that you get from the well falls off a cliff so in order to increase your production you've got to re frac that well basically on an annual basis and so that costs a lot of money it uses a lot of energy resources a lot of water like you pointed out i'm not sure that the markets are viewing fracking as a failure after member chevron just paid fifty billion dollars including debt to acquire a rival anadarko and that really was about acquiring shale assets in the permian basin the companies can make money on losing assets absolutely because it's a ponzi scheme right and you can make a money out of bodies came right and they can bail out six tracking money losing operations by i and other fra

national petroleum council which is an advisory group to the department of energy and a couple years ago they released a big report basically saying we need. you know open up the u.s. arctic to new drilling and the reason that they're pushing to open up these new fields for exploration is because of the things that you're talking about a big achilles' heel with which shale oil with fracking is it's significant what's known as depletion rate which means after the first year the production that you get from the well falls off a cliff so in order to increase your production you've got to re frac that well basically on an annual basis and so that costs a lot of money it uses a lot of energy resources a lot of water like you pointed out i'm not sure that the markets are viewing fracking as a failure after member chevron just paid fifty billion dollars including debt to acquire a rival anadarko and that really was about acquiring shale assets in the permian basin the companies can make money on losing assets absolutely because it's a padi's game right and you can make a money out of causes game right and they can bail out six tracking money losing operations by i and other frac

arctic. it sounds to me like an alliance with a real agenda going forward. >> people should not forget that article five the military response voted by the atlantic council hasy been done once and that was after 9/11. >> that is absolutely correct. and i was the commander for four years as you know, and sadly, i lost 2000 troops under my command -- >> 2000? >> 2000, during the four years i was there. one-third of them were europeans. and i wrote every one of those condolence letters. the europeans stood and delivered for us after 9/11. we ought to stand with them this alliance, this transatlantic bridge has been creeking a little bit, but it's the most stable thing in the international order. we need to treasure it. >> i was having a conversation with a nato ally, a former defense minister, and the inside story of what happened at those nato meetings when the president of the united states interrupted angela merkel, interrupted the other ministers and tried to take over the meeting in one of the sub meetings. and basically, you know, read the riot act about they're not spending enough money. >> indeed. and he also famously pushed aside one of the leaders as