the job cuts are now serious, b.p. following warnings from shell and chevron, two other giants in the oil industry, that they will be shedding hundreds of jobs in the near future. now, with b.p., those effect redirect examination mainly onshore workers. but this all means it is a worrying time for many in the industry there. >> the oil industry is crucial to the economy. and many residents say they are worried about the future. >> big profits for years and as soon as things start to go the wrong way for them, they just ditch it. >> scottland's first minister is coming under increasing pressure. >> i established a jobs task force to work to maintain employment labels and to get a guaranteed to every apprentice working in the oil and gas sector. of continuing employment. much more needs to be done the oil industry here may never recover. >> the evidence they needed. the call for intervention. to try if not stay in the flow here. and they can make it completely. with are heading for a serious outcome which will have serio

there are a lot of unknowns in the case of b.p.ny like that which is suffering from the low crude price like all of its peers has these additional problems and i would have thought that b.p. -- there has been some speculation about exxonmobil talking to them. that is something we should be watching closely in the next few months. >> thanks a lot. neil atkinson, head of analysis at lloyd's list intelligence. let us know what you are following today. ryan is on twitter. weave tweeting out a lot today, especially on the s.a.p. interview. we will be tweeting on what neil has been saying. he didn't give a price. >> no. but he did talk about what it is not going to do and he did mention $it will. coming up after the break, it is at time. ♪ >> time for the shot. guilt gets a drogbay boost. government bonds are getting a boost from an unexpected source in 2015. it is the president of the european central bank. this is the spread or the yield prem yum -- premium between german and 10-year u.k. bonds this. is a one-year chart. the yield diff

b.p. isn't saying how many jobs are being cut.l companies have is announced layoffs or cancelled projects. >>> tax day fast approaching and many americans are downloading forms and gathering receipts. >> 60% of us turn to outside help to complete the returns >> this morning authorities are issuing a warning about what to look for when choosing a tax preparer. here now rebecca jarvis. >> reporter: oscar needed help and asked for recommendation. >> they told me she was good. >> reporter: the woman this engineer hired came to his house and left with his papers. two weeks later, a $3,000 refund. >> she came over and paid me my refund in $20 bills. red flag. >> reporter: turns out, he says, the unscrupulous tax preparer made up thousands of dollars in deductions. >> on there it stated i had a business, which i do not and said it lost money in my business. therefore, my refund was bigger. >> reporter: 4500 in fact. of which he says she kept $1500. the irs warning it's an all-too-common problem. >> the legitimate preparer should be charg

and doing so could add more than $13 1/2 billion to the penalties that b.p. has already paid in damages and cleanup. a proposal to raise the minimum wage in virginia appears to be stalled in the state senate. >>ttee voted to table that idea today. less than one week into the general assembly session. northern virginia bureau chief jeff goldberg is live in alexandria with more on this plan. hi, jeff. >> hi alison. good afternoon. yeah that plan is certainly in doubt right now. 11-3, that was the vote today tabling that measure that democrats really trying to make a big push to get minimum wage moving forward. you know we asked some businesses here along mount vernon avenue in alexandria in del ray they say they're paying more than the minimum wage anyway many of them. it appears a change on the state level does not look like it's going to happen at least for the moment. minimum wage in virginia currently sits at $7.25 an hour. that's also the federal minimum wage. at least five different bills set to be introduced this session to increase the minimum wage by a

ep b.p. 5 programme.ellow at the think tank, the center for immigration studies, he says eb5 is bad for america. >> becoming a permanent resident in the united states is a boon for whoever gets it. i don't think we should be selling visas to people whose money. >> so we are brewing vienna... >> reporter: for the von trapps, they enrolled in the eb5 programme two years ago, to expand a brewery operating in the basement of an old barn of the resort. operation. >> five years after making the lager, they can't make commuf. -- make enough. >> johannes and his son see the building of a new brewery. >> why didn't you go through a funding source like a bank. >> when you have a vision, some things are difficult to fund. once a brewery is up and running, improving itself, it can be easy to take out a loan. >> when you typically borrow money from a bank. they want to be paid interest, white the brewery is not going to to throw off cash. more imaginative financing had to be found, and the eb5 programme was ideal. >>

be uh this month, b.p. following shell in announcing hundreds of cuts and that's focused people's attention here on the impact of low oil prices. providing jobs for much of the local work force. it has made abbeer dean extremely prosperous, but some are wondering whether that could be at risk. >> if that's it, then there is work coming in from overseas. the work coming from i am sure far away. >> but union official is warning the future of the industry could be in danger unless the government steps in with tax breaks for oil producers. >> oil prices were high, the government saw effective fatigue and increased taxes soon the oil prices dropped sustaining jobs and production oil, and sustaining of revenue from the country as a whole earning far above average salaries. at this new bar, they are not worried about the oil prices. i asked the manager why. >> other people say the oil and gas city is driven by oil. it is not 100% driven by oil there's a lot different industries as well. it's not just 100% dedicate

b.p. announced plans to cut thousands of jobs and suspend some of its projects. the north sea headquarters is in aberdeen. nadine has been speaking to people there. >> on the eastern coast of scotland. aberdeen's a success story thanks to oil and gas. >> 30,000 work in the industry it's thought 10 times as many are employed in related sector. bp followed shell announcing job cuts. it focus attention on the impact of low oil prices. >> this part of aberdeen is a fishing village, a time where jobs were provided to the workforce. >> north see oil exploration took off. it made aberdeen a prosperous city. >> some are wondering whether the prosperity could be at risk. >> i caught up with shona. she used to work in the oil and gas industry and her husband does as an engineer. she's confident it will be thriving when her son grows up. >> aberdeen is the center of ex-lens. if the offshore oil and gas is absent. there's always work coming from overseas. people here are so skilled in this city. work will come i am sure from far and wide. >> reporter: union official jake mal

b.p. announces that it is cutting 300 jobs.le a french energy giant is planning to reduce spending by $2.6 billions this year. and is considering a hiring freeze, all of this is causing concern. nadine barber reports. >> on the eastern coast of scotland the success stories thanks largely to oil and gas. while 30,000 people were in the offshore industry, it is thought ten times as many are employed in sectors like engineering. that's focused people's attention here. >> this part of aberdeen is the original fishing village from the time when the industry provided jobs for much of the local work force. now in the 1970's oil exploration took off and it has made an extremely prosperous city, but now some people here are wondering whether that prosperity could be at risk. i caught up and her husband still does, she is confident it will still be thriving when her son grows up. >> aberdeen is the center. so even if the offshore oil and gas of aberdeen stays the same then there's always work coming from overseas. and here we are so skil

one is require tougher standards on blow-out preventers a type of equipment blamed for the b.p. disaster, and second the regulations coming to require special standards in arctic drilling. >> woodruff: amy harder, finally, how likely is this proposal as we're looking tat now to become a reality, to become regulations that are goching what companies can do? >> right, the answer to that question will come in two years or soy. and even if there was drilling off the atlantic coast executives say that wouldn't happen until 2030. so i think the plan can only get narrower, and given the president's commitment to climate change, i wouldn't be surprised if they ultimately took it out of the final plan. soy at this point it's too early to say. >> woodruff: amy harder with the "wall street journal," we thank you very much. >> thanks for having me. >> woodruff: the push for more oil and gas comes in the wake of a record boom in domestic production and after an unexpectedly steep plunge in the price of crude oil in recent months. one of the states where the boom has been most pronounced, of

judge has ruled b.p. is liable for spilling 3 million barrels of oil into the gulf of mexico in the deepwater horizon disaster. that's a quarter less than prosecutors claimed. the ruling comes day before bp goes to trial to determine the amount of a civil fine. in a statement bp is reviewing the court's decision. up 2.3% today. >> and still to come on the show, we investigate the top toy trends for 2015 ahead of the london toy fair and see how the more traditional items are being reimagined. >>> they were one of the two banks applying earlier today. they said they do not expect to use those funds in the short-terms so they have been telling reuters it was a precautionary application for extra liquidity. the greek bond market just did it off the back of that story today. >> intel shares were down 2.5% in extended trade following the fourth quarter results out to close. josh has a run down of the numbers. >> how will the pc market fair in 2015. that's a big question for investors putting money in intel. the

b.p. has canceled projects. >> declining oil prices having a serious impact on jobs. that is apparent in texas. >> a city in a state that built fortunes on oil this is the oil community, refineries, chemical plants and billowing chimneys dominate the landscape. >> the entire community depends on employment to oil prices. the drop unprices has many deeply concerned. >> we woulders and cleaning staff come to pick up new short term contracts that things are changing. workers are being turned away. one man told us they now call this area the crying hole. >> right down the road is all refinery and all these people live off the refinery. it's making an impact on people i know. >> i've got to support my family. i've got to find something else. >> for a mechanic who remembers the oil crisis of the 1980's, key oil is a worry. his biggest clients are oil workers. >> i'm at retirement age. i can't just walk away, and i've got to stay here. even if you try to sell the business at that rate, it's going to be hard to do. >> economists saw the economy here is still growing. he predi

incidentally the b.p. refinery that has created this mess is generating 6,000 tons a day more than twice as much will come out of the keystone x.l. pipeline, the number-one republican senate majority issue, senate bill number 1 keystone x.l. pipeline, canadian company, 35 permanent jobs, but 15,400 metric tons of pet coke every single day somewhere -- somewhere -- in america. so i hope my colleagues will support this amendment to treat pet coke for what it is. it is a dangerous by dangerous by-product that shouldn't be stored neighbor neighborhoods ballparks children, elderly people. in theend the regulatory loop northerly pet coke. this the would help ensthiewr clean air and clean water is something that everyone can enjoy, even if you happen to have the bad luck of living in a neighborhood near a pet coke dutch suit like this one in the city of chicago. i'd ask the senator from -- i sigh the senator from minnesota is eking seeking recognition. i'd like to ask unanimous consent for the senator from north

this pet coke comes from the b.p., british petroleum refinery in whiting indiana. it is on the very southern tip of lake michigan. it is located -- we can see it from the city of chicago. they went through a $4 billion upgrade, put in new equipment so they could start processing these canadian tar sands which is going to come through the keystone x.l. pipeline. soon after they started this processing with $4 billion of new equipment the people living in this part of chicago looked out their window to see these massive piles of pet coke building up. as a consequence, they got worried. they're worried for their children. on windy days -- it is the windy city, in fact -- in chicago black clouds of this dust blow from piles into this working-class neighborhood. it always seems to be the case, doesn't it? somebody tried to put this on the north shore of chicago they'd scream bloody murder. but the company that owns this pet coke put it outside a poor neighborhood, a working-class neighborhood in chicago. the dust, pet coke dust settles on windowsills and porches and i m

like louisiana and texas in the western portion of the gulf and i guess we just ignore things like the b.p. oil spill and we ignore the potential for those kinds of disasters so i can't disagree very much with the chairman regarding some of his statistics, but i want the administration and my friend the chairman to know that as i have said repeatedly, i will be the last person standing in this house of representatives opposed to offshore drilling in my state of florida, no matter the views that others have. i believe there's enough wind from our respective oceans to double the amount of energy that we have. and yes my friend, there are aircraft that are powered without fossil fuel. we were originally scheduled this week to also consider a border security bill. but that bill was scuttled yesterday amidst a number of things. my friends the republicans are pretty lucky. as bad as the snowstorm is, particularly for the new england area of our country, many of our colleagues could not get back here yesterday and probably won't be able to get back here today as well, but the reason i say they're