it's got great assets and i think it goes higher because the bakken be rocking. let's go to sandy in new jersey. sandy? >> caller: yes, sandy in new jersey, i wanted to find out what your outlook is on pandora. >> all right. i've seen so much negativity thrown at this stock and it doesn't go down. you know what that says to me? that means it's going higher! i want to own pandora. that's a new position for me. i have not liked it. let's go to don in wyoming. don? >> caller: big boo-yah from jackson hole. >> say hello to those fed people out there. what's up? >> caller: oh, my girlfriend, i think, loves you more than me. >> you know what, i have to say it's safe. i'm not really familiar with her work but -- >> caller: one to three years, already holding. >> that's a buy. the stock, this is -- >> buy, buy, buy -- >> we're going to stick with that stock. let's go to austin in california, which is really in texas but we're going to go to austin in california. austin? >> caller: hey, jim, boo-yah from san diego. >> san diego. so beautiful. say hello to ed greenberg the

nothing compared to the bakken field from north dakota. 317 thousand barrels to california.bakken will produce 900,000 barrels a day this year, up from 40,000 barrels two years ago when we visited. independent whitey and continental lead 65,000 barrels a day. we got a prelude to that when continental raised its forecasts today. in texas, permian basin producing 600,000 barrels a day in 2012. up from 10% the year before. given that drilling permits have doubled since 2005, i expect much more coming from that once growth-starved field. oxy, occidental, the biggest producer in the permian, pioneer natural resources and kinder morgan following. now, eog is making noises the delaware basin could be the third big find after eagle ford and the bakken, which means there is much more than currently meets the eye or in the refineries. simmerex is one of the best with a substantial year offer year gain. however, texas' eagle ford produces 600,000 barrels a day, up 58% from a year ago. just one company alone, eog produces a fourth of that. no wonder the stock has been such a horse. othe

. >> well, it is in the bakken, i guess. >> yeah. >> all of our production is really south of there soiabarra is disadvantaged, some of that is going to the west coast. >> we saw the refining numbers, amazing. is that part of yours? >> some of it goes there. we sell it to middle men and they take it to cushing or california or wherever. but the eagle ford, we basically get brent pricing for it because it can go into the refineries making diesel. that's been great. >> one of the things that every day i read about some new oil company. that was the spanish oil company the other day. we know that the norwegians want in. you've been able to deliver a phenomenal 70% since your last time here. is it a fight to stay independent knowing you can produce more for your shareholders? because every one of the companies your size, i understand, is being circled around. >> i'm sure somebody's studying us. and we've talked to that one spanish company before about a joint venture. and we now have joint ventures with japanese, chinese and indian companies. so there are a lot of people who are aware of w

regular viewers know all about the bakken shale and the eagle ford.u about last week the permean basin. so new i'm going to introduce you to the michigan naiabrara formation mainly in northeastern colorado, though it spreads into wyoming, nebraska and kansas. we do think of it as a colorado shale, okay. now this is a discovery still in the infancy with many companies leasing for land and there is a lot of future drilling ahead. it has a bit of a spotty history. cramer fans about thee or four years ago started drill and then gave up on it. wow, we expect them be, but the niobrara acreage was not so hot. so if eog gave up on it, why don't we dismiss it out of hand? because it turns out this is very hit or misplay. it's spotty. we heard the same thing from chesapeake energy. it's incredibly variable. some areas are practically bursting with oil. others have very little. 10 where is the right acreage and who has it? the niobrar sweet spot is right near denver, colorado, in what is known as the denver julesburg basin. companies that drill there see some of

bakken braman. finds it hard to make a life for himself. you armor i turn us around you. i saw you on t.v. you had a long beard. you look kind of rough yes. so how are you doing it's been a while since then. did you ever think of changing your name. just dish. yes. i do have the right to do that. i could change the name my mother and father gave me. i don't want to do that. you don't change it you are innocent after all and for me it's not a matter of being ashamed of it but it is hard to find a job. and if someone came to me for work i'd say ok brother i'll give you some work. but when i hear the name murat kurnaz. i would be scared. oh well that's obvious since you don't know me. maybe you're being watched and then my place would be watched to my customers might be annoyed yeah that happens to me all the time. oh. go from top to in school. i feel frozen. but in some point you do have to leave on time oh hi. what are my can do for the rest of my life i'm too young to just be retired. i knew if i owned my own business i had to do something that i would be good at that. if

just a couple of years ago say fall islam was received very warmly in britain he was hosted in the bakken ham palace by the royal family he was the one who how b.p. secure a drilling rights in we be. yes so when we share all those narratives about how brutal and inhumane to get off a regime was to you really be in people i'm he was obviously perceived as part of that regime i think we also have to keep in mind that safe and sound was the prime example of the very accommodating treatment that's regime received from the british authorities well i think the fact is that there's a very complex and changing political background between the u.k. and france and the u.s. and libya over the last ten twenty thirty years. from. very poor relations to a warming of relations and it's gone back and forth the thing is is from my point of view obviously i'm not a political scientist i'm no i don't make political commentary about about all of that but what concerns me is is in fact what. actually himself said last year which is he said i.c.c. is not a foreign policy instrument to be switched on and off yo

largest producer in the bakken saying the pipeline is not needed. you have the c.e.o. of the largest oil company in canada saying essentially the same thing. that basically leaves only the refiners. it turns out they have been pretty much saying the same thing. "the wall street journal" had a headline "u.s. refiners don't care if keystone gets built." valero, one of the largest refiners in the country, said keystone was, in their word, "not critical to their business." this is a refiner that signed up early-to-geearl early to get oim keystone and spent billions to process it and they now say it's not critical. so we're going to have further discussion about this. i want it understood that i think senator boxer and senator whitehouse have made some important points here. i'm particularly struck by how, as you get into this issue, there are significant questions about how this fundamentally benefits the american people. my hope is -- and i've talked about this with senators on both sides of the aisle -- that we can work out the various procedural questions with respect t

>> yes, i believe what happened in the bakken and eagleford and what is happening in the permean basinese key areas will allow us to pass saudi arabia and russia, 2020 and 2022. -- permian. tracy: you have to talk about exporting it. we could get to the point where we have extra to give away. there will be an underground exporting business for you here as well, wouldn't there be? >> there was an export ban and the administration and congress in 1975 and 1979. today we're exporting coal. we'll be exporting lng. we're exporting 3.2 million barrels a day of products coming out of refineries. so only thing we're not exporting is crude. at some point in time we'll be asking the administration to allowing some exports of crude. tracy: you and in break were talking about how the government in general is very slow to understand this. this process could take a few years. natural gas exports are having a tough time right now this could take awe while before this happens. >> that's why we have to start early and start now. the gas started several years ago. they have approved three projection. th

so this was a oil field workers having migrated to north dakota for the development of the bakken shale piece. now he's, just an idea on my brother, not that you want the family insights, in 2000 census data came out and he calls me. so i see that north dakota, that is how you pronounce that, north dakota is only one of two states that didn't increase in population. i'm trying to think how that's a bad thing. that will give you a little sense what he thinks about all the southern drawls but on the other hand both of his daughters are out of the house and out of the state so he feels okay with that. the, influx of labor to develop that shale deposit is causing some real interesting questions. one of them fannie mae had to think about a little bit, there's a difference between the development of the oil source and the extraction. so we've, get requests for financing to build apartment buildings. how long-lasting will be the labor that's used in the development of the fracking process? so would you make a long-term investment in an apartment building but maybe there is only five years of t

everybody knows about the bakken plate that's driving the economic growth in north dakota and eastern montana, but if the government shuts down, the bureau of land management's permitting office would be shut down too, and that means wells would be delayed and the jobs that come with them. and since the house republicans have been unwilling to begin negotiations on a new farm bill, farmers and ranchers are going to have a lot of questions come october 1, on a day that not only will the government shut down but the farm bill will expire as well. so not only could some folks lose critical nutrition assistance, farmers and ranchers would have no place to go to get their questions answered about the fact that there's no more farm bill for commodity -- or a commodity title. no more ability to get questions answered about conservation that needs to be planned for far ahead of time. why? because their local farm service agency office would be closed. like the other government offices, nobody's going to be there to answer the phone. in montana, washington now is shorthand for uncertainty. con