romney. >> romney did. >> becky has your morning headline. >> bakken, i saw it in the prompter. >> iaken -- i don't know. is there a reason you want me to spell it? >> no, no, there was a very good kicker for the st. louis cardinals during the 1970s called jim bakken. >> i thought you were practicing your usual brand of gotcha journalism. >> it's b-a-k-k-e-n. >> like the kicker. >> we heard from bank of america which broke even in the third quarter. revenue did fall a little short of consensus. that stock is up by a few cents in the pre-market activity. also, pepsi posting earnings of $1.20 a share. that was four cents better than the street was looking for. revenue came in a little shy on this one too. but hugh johnston joined us earlier this morning and here's what he had to say about the company's growth in china. >> in terms of performance over the last couple of months, we saw 3% volume growth in july, 3% in august, and a strong 9% volume growth in september. so contrast to what we heard yesterday, our china picture is actually improving and we feel good about what's going on. >

i am delighted to hear about the permit for the refinery in the bakken field. melissa: yeah.ut that. i mean that is a step forward no matter how you slice it. it is on, is it on a reservation? did i read that? >> i think that's correct. i believe that's correct. melissa: i mean that makes it sort of unusual. is that the way we get these refineries done now? they're like casinos, have to put them on a native-american reservation? >> well, you know, i've, i don't agree with many of the decisions of secretary salazar and the department of interior, particularly on their permitting aspect. it has been extremely difficult to obtain permits on federal land. they talk a lot about federal land. i think that is why they're pushing these two projects right now because as you and i know, production of oil has increased about 370,000 barrels a day on nonfederal land and on federal lands it has decreased about 260,000 barrels a day. melissa: yeah. i was less excited to read about this giant, you know, wind turbine farm. we have $1.3 billion in renewable energy production tax credits for w

in recent years we found a tremendous amount of oil and gas here in north america, places like the bakken and eagleford shale in texas. in fact, we have so much oil in these places that we don't have nearly enough pipeline infrastructure to transport the stuff to where it is needed from point a to point b. so they're using trains and trucks to do the shipping. i've been a fan of the pipeline stocks on this show, as you know. sources of great income because they're like toll roads. they pay bountiful dividends. the pipeline business is, i think, maybe a multiple year growth industry. if you want a growth oriented pipeline play, look no further than enbridge, enb. the big canadian company, one that carries 70% of all canada's oil exports in the united states. it has more than $30 billion worth of secured and potential projects on the drawing board. not to mention creation of tens of thousands of jobs, maybe even more. something that governor romney suggested last night could happen if we simply unleash the power of the energy industry and the infrastructure demands. they yield 2.8%, they ha

they he don't understand about the bakken and the eagle ford. and mpc is a winner in that situation and not a loser. let's go to robyn in california. >> hi, jim. booyah. i read that a rise in christmas shopping is expected this year. my question concerns mattel or other kid oriented stocks, whether they rise during the holiday season and what you think they will do this year. >> the fundamentals are more challenged than i like. the toy cohort did not have a good back to school season. mattel would be the one that i like. it has a 3.5% yield. the forecasts about holiday season is going to be, they are based on nothing. that is total thumb sucking. they ought to go bet on the browns. whatever, anyway, use the calendar to remind you when your anniversary is. not for investing. anyway, wow, try looking at the fundamentals, not your desk calendar. stay with cramer. >> coming up, cash crop? the midwest biggest drought in decades sent shares of mosaic up to 52 week highs. after failed earnings should you be harvesting your gains or doubling down? crame

oil, as it's the one rail that's really moved aggressively in the bakken and the eagle ford patches. ones that lack much you get the oil to the market. i like that. i always like the fact that stocks come down to levels much cheaper than where it's been historically. as the company continues to reprice contracts higher that's able to raise earnings. union pacific it's open and the one i'm going to toss to. only if it's down will i toss to it. i'm worried about one defensive back out there and that's the chart which indicates that union pacific won't be able to hold on to the ball. otherwise i'll keep the ball myself. maybe dump it off into cash. remember, you don't always need to pass it. the bottom line, i have now completed my check down of fourth quarter opportunities based on the third quarter and i've limited it to one player -- the wide receiver that's union pacific. i'll go to him to pick up a quick six points or maybe more. after the break i'll try to make you more money. >>> coming up, war on the web? the internet's tech giants have been locked in a battle for search suprema

. -- let mow take it bakken s ide -- back inside. -- let me take it back inside. 50, the early accident we had here has cleared. 175 remains blocked off between maryland 3 and gambrell. water street still under water near route 4. that's a check of your fox 5 on-timetraffic. ime >>> metro is open today. normal service resumes this morning. however, some bus routes could be affected by flooding and road closures so build some extra sometime into your trip. the federal government also open today although employees have the option for unscheduled leave or telework. there are some school delays this morning but most systems are open again today. some individual schools are closed because of power outages. you can check out the full list on myfoxdc.com. also, we have it scrolling there on the bottom of your screen. >> along the potomac river, new fears of mored intoing as high tide is expected in just a few hours. >> areas in old town have already experienced somed intoing due to sandy. some businesses forced to shut down last night. melanie alnwick is live in alexandria with the latest. >>

. >> had the best eagle ford and the best bakken. who can beat that?teve in wisconsin. steve? >> caller: hey, jim, boo-yah too you from kenosha, wisconsin. >> sweet! what's up? >> caller: hey, i'm interested in hospira, hospira, the generic -- >> we like hospira. >> buy, buy, buy! >> thinking about that kind of company. let's go to david in michigan. david? >> caller: hey, jim, i'm a big fan. how you doing? >> all right. how about you? >> caller: good, good. i was just curious where you see going from here. taking a big hit. >> i regard it as one of the worst investments i've ever made. i do prefer the gld if you want to own gold. i have to tell you i felt that the company on friday, i think they're a little aggressive, frankly. i think they're a little aggressive there are things that can go wrong. if gold really plummets, those gold miners will stop drilling. they will stop getting gold. and what will happen is the company's earning treatment will dry up. be careful. let's go to bo in kentucky. bo? >> caller: hey, jim, thanks for taking the call. lov

last month exxon agreed to acquire danbury resources bakken shale property for $1.6 billion. shares, believe it or not higher on the news hitting a fifth high. $93.15, up about 77 cents right now on the news. ashley: yeah. tracy: we were talking about how it is harder to get out of the ground the canadian oil. ashley: the shale oil. takes more effort to get the product. tracy: if they can't get it here where else with they going to go? ashley: that's a good point. right on the money where every 15 minutes we go down to the floor of the new york stock exchange where nicole petallides brings us up to speed. the dow still drifting lower, nicole. >> that's true. we are seeing the dow down about 25 points right now. the vix, fear index is to the downside. the dollar still lower. but we're seeing commodities with an up arrow. we should note majority of dow components have been in the green. we're seeing drug stocks and bank stocks, retail stocks, oil services, transports, all with up arrows today. the exception here really is tech where we're seeing ibm and intel with down arrows a

well, a lot of it came from the bakken rage in north dakota. what was his participation there? the administration brought a criminal action against the people drilling up there for oil, this massive new resource we have. and what was the cost? 20 or 25 birds were killed. and they brought out a migratory bird act to go after them on a criminal basis. look, i want to make sure we use our oil, our coal, our gas, our nuclear, our renewables. i believe very much in our renewable capabilities. ethanol, wind, solar will be an important part of our energy mix. but we don't need the president to keep us from taking advantage of oil, coal, and gas. this has not been mr. oil or mr. gas or mr. coal. talk to the people who are working in those industries. i was in skocoal country. people grabbed my arm and said, please, save my job. the head of the epa says, you can't build a coal plant. it's virtually impossible given our regulations. when the president ran for office, he said, if you build a coal plant, you can go ahead, but you'll go bankrupt. that's not the right course for america. let

go to the bakken shale in the dakotas, and bingo. >> for a while, half the wells were only half gonere, and now we're going to get the last drop out of a lot of them. same with saudi arabia. it looked like it was empty, but half was left, but now there are ways to getting it. >> these are shale wells, new shale wells that are being drilled that are very productive. we're drilling a whole bunch of them in oklahoma. and we're also drilling them in texas. and, you know, with $90 to $95 oil -- >> what was the third thing? >> third thing, we have a natural gas pipeline. >> a pipeline. >> a pipeline system. >> that keeps it in the country. don't get her started. >> and i know you're in favor of exporting it. and i was kind of thinking about this last night, trying to get my head around it. >> it's about jobs. it's all about jobs. >> oh, boy. >> my calculation -- >> go for it. >> my calculations, for every -- >> everybody stand back. >> no, i'm trying to get my head around this. >> so we produce 65 billion cubic feet of natural gas a day. can. >> yes. >> at the same price, we could produce

well a lot of it came from the bakken range in north dakota. what was his participation there?ed and brought out a migratory bird act to go after them on a criminal basis. look, i want to make sure we use our oil, our coal, our gas, our nuclear, our renewables. i believe very much in our renewable capabilities; ethanol, wind, solar will be an important part of our energy mix. but what we don't need is to have the president keeping us from taking advantage of oil, coal and gas. this has not been mr. oil, or mr. gas, or mr. coal. talk to the people that are working in those industries. i was in coal country. people grabbed my arms and said, "please save my job." the head of the epa said, "you can't build a coal plant. you'll virtually -- it's virtually impossible given our regulations." when the president ran for office, he said if you build a coal plant, you can go ahead, but you'll go bankrupt. that's not the right course for america. let's take advantage of the energy resources we have, as well as the energy sources for the future. and if we do that, if we do what i'm planning