bakken is the most expensive to produce, and there's real problems getting it out of the bakken. they basically paid $3.8 billion. i don't know what the company's worth. it's $6 billion last night. wow. >> yeah but diluting themselves to make sure they have a future which -- >> that's been -- >> you can live to fight another day, you do. >> they did it to be opportunistic. not everybody -- some of the companies are taking advantage of this and being opportunistic. canada did a big deal that was survive ability. but, yes, this is the way of the future. sole of the companies are raising money to buy the companies that can't get a bid. >> right. of course, the case of whiting, you had it shoot up on takeover rumors, you followed this closely -- >> well this is embarrassing. this is a company they are pricing this thing. the other ones they're not in the hole like this. this smacks of desperation. >> yeah. the stock could be down 19%. we'll give you details when the deal gets done whether it's 29 or 30 we'll see. stock trading around or bid ask around 39. >> a buzz kill for the group

charles: bakken is not as profitable at 65. i thought they were profitable at 50 bucks. >> sixty-five. charles: let me ask you this, we've seen rig counts come down. production hasn't stopped. 444 million gallons. putting it into ships. taking tin cans. you know, one thing has to blink. either the prices come back or these guys who keep producing it just get hurt. >> remember, it's the global market. you have to factor what's going on in europe and what's happening in japan. when we combine the ecb and bank of japan, $1.7 trillion of liquidity through their quantitative easing plans. charles: factor oil into that. you see the estimates out there. things that are really critical for decision making, everything. what do you make of it? matt: grain of salt. i equate to economists to meteorologists. 1 inches to 8 inches. they tell us what happens after it happens many times. they are guesses. they really are. charles: constance, you won't be the first one to hit him with a shoe. i'm letting you know right now. kyle, talk to us. wha

. >>> a wave of storms is causing havoc in the bakkens.ds have been closed and village villages have been impacted. >>> massive cleanup operation is underway in northern argentina after the worst flooding in 50 years. weeks of heavy rain have destroyed hundreds of homes and forced thousands to seek safety. the exact number of people evacuated is unknown, and some areas have been cut off by the flooding. >>> now he was one of the most wanted men in mexico and a week ago the drug lord known as la tuta was arrested by security forces. he headed the violent knights template cartel. but his arris has revived hope that life night now return to normal. >> reporter: lines of big business in the state in southwest mexico not just for producers, but also the knights templar cartel who spent years offer them and other businesses a simple choice pay up for face death, but no more. >> translator: the extortion was systematic, you had to pay the cartel as if it was a tax, but now that's gone. >> reporter: last friday's capture of mexico's most wanted ma

it was transporting crude from the bakken oil patch. >>> jurors hearing testimony in the boston marathon bombing trial will get a break today. witnesses gave vivid accounts of the carnage from the attacks on thursday. kris van cleave reports. >> reporter: these are still images from a video shown to the jury when prosecuteors say dzhokhar tsarnaev plant add bomb and watched. just feet away the richards family and in the back groumd, the the 21-year-old defendant in a white hat. bill richard testified he was blown into the street, his daughter jane lost her leg and his son martin lost his life. he said, i knew he wasn't going to make it. i saw my son barely alive for the last time. survivor rebecca gregory said facing the defendant in court actually helped her get past her fear. >> he's like a young little boy who had his whole life ahead of him and did this horrific thing and is now going to spend it either in prison or, you know, put to death. >> reporter: the trial was expected to last three to four months but is moving faster than expected because so far the defense has questioned onl

rail will be used for bakken crude. it will be used for certain types of destinations but not a destination alternative to keystone. we don't want the public to be misled it will be either or. so the pipeline fights are pushing things off and to, rail. >> paul, did you want to jump in. >> at risk of not being particularly helpful, i want to expect as ton meshment it has taken this long. the president said he expects decision weeks, months certainly before the end of his presidency. i remember the first mandate, when he punted decision after 2012 election, i ran into a colleague of congressman, scott greenwood, the den mother of the u.s. canada relationship don't you worry paul, the pipeline will get passed presidential election behind us of 2012. if it is mitt romney he will approve keystone on first day as president. if it is barack obama this is barack obama, he will approve a few weeks later this is to the environmental wing of his constituency, folks like danielle. scotty wasn't wrong. the entire weight of washingto

now, contrary to what the president has said, 100,000 barrels a day from the back anne -- bakken, which is shared between north dakota and montana, will be put into the pipeline close to baker montana. the president was just given four pinocchios by "the washington post" yesterday for claiming that the keystone pipeline bypassed the u.s. i'd like to have the president come out to montana. i'll pick him up in billings. we drive out in my pickup and i'll show him where the proposed citing is -- siting is for the billings onramp where 100,000 barrels a day will enter the keystone pipeline. the people of montana the people in the bakken region know that the president's claim is absolutely false. now, with gas dropping under two bucks a gallon out where i'm from that's been a welcome change for many, many hardworking montana families. and why is gas -- why are gas prices dropping? that's because we're seeing more made in america energy. and, again this lowering in gas prices will result in approximately a $750 a year savings for the average american household. and that's a good thing. but ra

highly flammable bakken crude has not moved through the area since november but it could start again. >>> 5:12. nasa celebrating the first martian marathon. after more than 11 years, its long serving mars rover called "opportunity" clocked in at 26.2 miles on the red planet. that's its mileage. it beat out a rival rover. it arrived there at 2004. it's still going. >>> 5:13. let's check in with liz to find out our traffic. good morning. >> good morning. we'll head out to northbound 280 at hickey and you can see there's no delay but there is an accident one of the our only accidents so far this morning and it looks like it is in the center divide. 63 miles per hour. we're watching it. again it's our only accident we have seen since we have been on the air since 4:30. we have a lot of overnight roadwork. here's a live look at the bay bridge toll tomorrow everything is cleared early heading into san francisco and heading into the east bay. this is a live look at the bay bridge toll plaza. relative free across the span even the approaches. so let's show you your slowest commutes out the do

bakken crude hasn't moved through the area since november because of lower oil prices but it could start again. >>> state lawmakers want to know why gas prices are going up. prices shot up a buck a gallon in the past month. one consumer advocate told the state senate committee refineries are running up prices by keeping low reserves about a week's worth on hand. >> refiners are rigging the market and keeping it on less inventories than the national average. that seems to have a huge impact when refineries break and it is unmistakable. people have watched this for 10 years. one refinery goes down, price go up. two refineries go down, prices go through the roof. >> two refineries in the state including the tesoro refinery in martinez are still offline. the oil companies deny any wrongdoing. >>> 6:38. a step forward to keep oakland's sports teams in oakland. the alameda county board of supervisors have approved a negotiating agreement to develop the coliseum city. it's oakland's $2 billion plan to keep the raiders and a's happy. the plan is to build up to 3 new stadiums at the current colis

tank cars full of so-called bakken crude oil from north dakota, headed to a refinery on the delaware about it absolutely. >> reporter: outside the roy brown middle skooshlgs children are only steps away from those tracks and the searing fireballs in three of the four derailments over the past month are raising awareness. but not everyone living in the dozens of communities flanking these tracks realize what they carry. >> most people don't know that these trains coming right through here pass these school children crossing right now, are loaded with highly unstable and volatile oil. >> reporter: bergen field fire capital knows. his station is right next to the tracks. if a derailment happened here he figures, he'd be dead. >> i understand that. my family understands that. and it's a danger we live with. >> reporter: a 68,000 volt power line runs along these tracks. >> you would have mass casualties. >> i believe you would. >> reporter: three to four times a day, oil trains come down through rockland county where the concern is just as real, through the heart of bergen county and then

a train carrying crude oil from the bakken region of north dakota has derailed in northern illinois,causing a massive fire. the incident follows two previous oil derailments last month, which happened within days of each other in ontario, canada and west virginia. you can go to our website for discussions of these at democracynow.org. the fire was so intense, the firefighter simply left this latest explosion. ringling brothers and barnum and bailey circus has announced it will end its elephant acts by 2018, citing mounting public concern over animal mistreatment. the animal rights group peta which has documented ringling's abuse of elephants, hailed the decision, but called for an immediate halt to the performances. the humane society called the decision "startling and tremendously exciting." u.s. army whistleblower chelsea manning has won a court order instructing the military to stop referring to her with masculine pronouns. manning announced her identity as a transgender woman in 2013 a day after she was sentenced to 35 years in prison for giving a trove of secret documents to wik

. -- occam -- bakken. will continue to what we've always done. a surrogate for the company put its our job to get the facts out about this proposal. on the bridge i found the president to be in most of the ways not all of them, to be helpful. and i found the biggest blockage to be both with the private owner of the bridge blocking in the michigan house and senate, and then with the michigan delegation appropriation of money. so we had to use a model to get a financing agreement, which is paid back by the users, both capital and interest. we got a presidential permit with a lot of cooperation from the white house. we got a waiver on the u.s. steel that is covered under buy america that goes back decades back to the good old days, which was brought in legislation ever got a waiver for canada u.s. steel to the white house. and yes it should've been paid for by the textures on either side of the border. when we couldn't get that through the michigan delegation and the house of representatives, we had to the go back into the solution because this brid

the capacity from the bakken. 12% of the bakken oil. we're moving our oil producing our oil buying from our best, friendliest neighbor and our ally canada and it makes us more secure as a naismtion i've heard all the arguments gunshot argument against it. we can't do this, oh my, because this oil is going to come straight down and go out. they make you believe it is going to come right down here, loaded on a tanker and taken to another country. so we get no benefit at all is what they're telling me. we had a press kfns maybe two or three weeks ago. we had the prime minister of canada. we had the premier of calgary. we had everybody there that have agreed that's not going it -- to happen. they will be subjected to the same rules and religions regulations. no crude will be exported unless we change it in law. that prevents that from happening. that's a misnomer. next of all they said they don't pay the 8% into the spill fund, the trust fund, in case there is a spill. they have agreed to do that. they said, wait a minute. this is not going

bakken then it was in the district district of columbia, and the reason for that was when george washington laid out the original borders for the district of columbia stuck alexandria right in the bottom corner. and, indeed, if you look at a map of d.c. today and take the small strip of land where arlington and alexandria are, you'll see it forms a perfect diamond-shaped square. he wanted it to include land from both maryland and virginia. and it's a town closest to george washington's mount vernon plantation. alexandria very much considered itself to be george washington's hometown. and young robert didn't have to look far to see reminders of george washington. he saw them everywhere. robert e. lee as a child worshiped at the episcopal church where george washington had owned a pew, robert e. lee attended school at alexandria academy which george washington had endowed and robert e. lee ran errands in the marketplace where george washington had drilled troops during the french and indian war. and the descriptions we have of robert e. lee's childhood describe him as almost anything but a bo

the train was carrying oil from the bakken oil field in north dakota. no one was hurt. it's the second u.s. oil train derailmentn a month. >>> a blast of arctic air is bringing chills. lexington, kentucky feels like it's below zero. the cold affects millions cleaning up from thursday's powerful snowstorm. >>> icy roads in rhode island caused a violent collision caught on camera. no one was seriously hurt. in kentucky the national guard rescues many on interstate 65. many were stranded for hours. cuthbert langley of our national a affiliate has more. cuthbert good morning. >> reporter: good morning. let me show you here one of the main roads right off of the interstate interstate. you see right there? the trucks say they're not risking the drive on the interstate as one of the biggest interstates in the state is still shut down this morning. this is what it looked like for millions in the south thursday. record amounts of snow made a mess of the roads and led to spinouts and accidents. >> the ride was pretty tough. >> it's really, really dangerous out here. i wouldn't be

the big problem's boxen, enen bakken crude, flammable, why everybody's worried about it. >> looking at names today, obviously that's going to be tough, right? >> i mean got to be careful. housing is case by case. toll brothers has a tremendous pipeline very very very good city stuff that's doing quite well. >> urban. high-end urban. >> raising price, raising price. i don't want to sell the group on this. i worry about the economy. they've got to snap out of it. >> micron, one of the worst performers as well. cutting numbers. >> rbsc cuts numbers. anything pc is just insectsecular decline. micron's in your pc not enough flash. >> under armour is that a new high on ua? >> strong call. strong call from fbr. when i spoke to kevin plank last week, this guy wants to take over the world, and he's succeeding. they have 135 million people in map my fitness, you look at weight watchers it's in trouble. map my fitness, extraordinary, extraordinary product that people love fitbit they love -- and so what people do this is like under armour's decided to become a tech company that also sells apparel

by the way, first time in six years that production in the eagle ford and the bakken fell this month.ction changes down the road. hoping bell. a look at s&p at top of the screen, at big board, goldman sachs bbc, business development company develop greating its ipo. we have four ipos. wix.com a cloud-based web development platform. the breadth at the open not looking so hot. >> you mentioned energy. oil's down for a seventh day in a row. looking at low lelgvels flirting with at march '09 low. the past two sessions it's opened low on the back of the oil prices and turned higher towards the end of the day, somethingbob pisani was watching. >> oil today you have industrial data from the american economy institute which shocked people with the inventory bill. if that is confirms with the official figures today from the eia, which i imagine we get in an hour's time 10:30, that will be for many people a very important turning point potentially because it's clear storage is running out and there could be a further leg down on oil. seem to be the commentary. >> energy and materials at bottom

. >>> stocks pulling bakken on track for a second straight lower open adp employment below forecast 212,000orkers added to payrolls in february. that's ahead of the jobs number friday. and after some of the mixed data out of europe and china overnight as well as surprise rate cut from india's central bank, the second cut there of the year. eurozone, jim, you said yesterday the green chutes are no longer green chutes they're outright plants and the pmi number, even in france would back that up. >> persistent low growth there. i hate the term negative growth. but things are going down there very low single digit. now things are going up there 1% to 2% except germany which is booming. the euro, they've debased it enough that helped for exports and gasoline really helps them. it's trickling through. we need. february's a weak month in the country. february was a weak month. and we have a very big fed meeting coming up. we have had a lot of complacency going into the fed meeting. if janet yellen decides i'm not looking at february i'm taking it wholistically, a rate rise will not sit well. >> ye

often people think of it is moving canadian crude but it also picks up domestic crude in the bakken region. buck inslee-doyle from montana and takes it to refineries throughout the country. so that is the project we are talking about. this chart shows what's going to happen if we don't approve it and you have to understand this has been going on for now over six years. the president has the president has delayed this project for more than six years but if we don't move our domestic crude in the united states canada will build pipelines to the west coast and the oil will go to china by tanks or ships or be refined in china. so again we go through all these different discussions but the reality is that oil will be produced. the question is do we want to have oil in our country or would we rather see it go to china and of course it goes to china not only does that affect their ability to -- because we don't have an infrastructure moving around safely and cost-effectively but we also been we continue to import oil from the middle east. and it's not like and i will point to a couple more of the

around of keystone people don't even realize we're not exporting, it's here in the country $35 for bakkenil, $35. be aware we're not done. natural gas, you've got to cap it guys. cap the natural gas. >> you saw chevron's conference call argued that nat gas at 3 is equivalent of crude at 18. that's crazy. >> yeah. cap has a dollar cost up there. building pipelines. mark west doing fantastic pipeline work according to rbm. it can go down. when i say no place, nordic american tankers are getting filled up i'm not recommending anything but that's a place to store. >>> herbalife, "the journal" saying prosecutors are probing potential manipulation of herbalife stock. said to have interviewed people hired by bill ackman's who had a long standing short on herbalife. earlier this morning on "squawk" ackman's been asked if he's been contacts by investigators. >> we have you know proactively and offensively been to see the sec and doj about herbalife but i haven't gotten subpoenas asking me to testify about market manipulation or anything else that's concerning our conduct with respect to herbalife.

there's a lot to focus on, particularly in the bakkens where they're not cemented into the alliance and the eu they're more at risk. but also in allied territory. >> thank you mr. chairman. >> before turning to senator johnson, i do want to say that countries watching the last exchange madam secretary, from a person who helped write the budapest agreement apparently it was a superficial agreement only a political agreement. i would say that countries watching that last exchange would be pretty red sent to come to any agreement with the united states for sure, the uk and russia regarding nuclear arms. and my guess is that last exchange would be a pretty major setback to anyone who ever thought we were serious about an agreement relative to a nuclear proliferation. but with that i'll turn it over to senator johnson. >> thank you, mr. chairman. yeah that answer to the question certainly doesn't reassure the allies which is one of the phrases that i heard in the testimony. senator gardner and senator shaheen mentioned the hearing we had last week in our european subcommittee. i called that

the capacity from the bakken. 12% of the bakken oil. we're moving our oil producing our oil buying from our best, friendliest neighbor and our ally canada and it makes us more secure as a naismtion i've heard all the arguments gunshot argument against it. we can't do this, oh my, because this oil is going to come straight down and go out. they make you believe it is going to come right down here, loaded on a tanker and taken to another country. so we get no benefit at all is what they're telling me. we had a press kfns maybe two or three weeks ago. we had the prime minister of canada. we had the premier of calgary. we had everybody there that have agreed that's not going it -- to happen. they will be subjected to the same rules and religions regulations. no crude will be exported unless we change it in law. that prevents that from happening. that's a misnomer. next of all they said they don't pay the 8% into the spill fund, the trust fund, in case there is a spill. they have agreed to do that. they said, wait a minute. this is not going