one example of how big oil tight to move to a future beyond oil and gas.ning me from london is meredith from bloomberg and ef. 2 billion. what is that to show? >> i think it is important to say that it is not a trivial amount. especially when you consider that the new energies division in 2016, only 50 $200 million. ultimately, context is everything. they spent 25 to $30 billion a year on a gargle of businesses. $2 billion is just a drop in the budget. alix: fair point. how does that stack up against some of the other competitors like bp and other big oil companies? >> in terms of annualized cap x it is ahead of its peers. they spent about a half billion dollars a year on clean energy is compared to shells one to 2 billion. it is important to note that it they have done a big announcement recently from all the large independent oil companies in europe. prettybeen involved in large acquisitions recently. specifically thinking of tell tell acquisition of arrest energy which is one of the ingest deals that it took 2018 p that is a fairly sizable french utilit

says it will double the amount it spends on green energy to $2 billion per year, one example of how big oilying to move to a future beyond oil and gas. joining me from london is meredith from bloomberg nef. $2 billion. what is that to shell? meredith: i think it's important to say that $2 billion is not a trivial amount, especially when you consider that when shell founded its new energies division committee was only spending $200 million. ultimately, context is everything. shell spends $25 billion to $30 billion a year on its businesses, so $2 billion is really a drop in the bucket. alix: fair point. how does shell stack up against other competitors like bp and other oil companies? meredith: in terms of capex, shell is ahead of its peers. it is important to note that there have been some big announcements from large independent oil companies in europe. bp has been involved in large acquisitions recently, specifically thinking of total's acquisition of direct energy, one of the largest deals in 2018 it took. that is a sizable french utility. also, $1.2 billion by 2021 in clean energy, which

alix: did big oil get scared off? exxon seems committed to offshore access. -- assets. >> they have been operating in these environments for years and have operated in much more tumultuous environment even within nigeria. shell's commitment to nigeria has been steadfast. while political negotiations or something to look at there was a more on the grounds armed to defensive front room -- problem. the opportunity with shale to expand u.s. portfolios and add this stable producing region into their product mix which helps them takes more risk moving forward. alix: ashley peterson from stratus advisors, thank you. it was news that rocked the shirking world -- rocked the shipping world. -- this followed a similar move by singapore and california and comes a year away from nenew imo rules demanding stricter emission standards for vessels. this is commodities edge. ♪ alix: time for the data day. we delve deep into the market trends of the week. , we sawntories numbers a huge crew drop. the problem is refined products, the glu

oil majors are now in u.s. shale and bign so they will be less sensitive to lower oil prices. activity is also above the seasonal average and once prices stabilize, activity could come back with a vengeance. so where is the bottom? halliburton reported earnings with a mixed picture. north american revenue actually fell versus a 7% rise internationally. i sat down with dan eberhart, the ceo of canary, a small oil services company, and asked him how much more capex cuts can we expect from u.s. producers. dan: i expect a few more companies to announce cuts in their 2019 budgets, but i think that may be bottoming out or leveling out with the price we have seen the first week of the year. alix: what does that mean for drillers? does it delay pricing power? does it delay the trough in activity? what does it do? dan: i think it delays the trough in activity, and i think it increases the producers' ability to have pricing power over the drillers. alix: what does that mean for cost inflation overall? dan: that means that it is going

oil prices recover and services are left in the dust by big oil, emp's, refiners, and midstream playerscatch-up, the group has to find drilling activity and pricing. onshore drilling was a bright spot. before the 2018 oil crash, up, davewas picking rates are rising and top-tier , assets commanded a market premium of $6,000 to $8,000 a day. but then oil prices fell into a bear market, volatility exploded, and now independent their forare cutting 2019. it is going to be hard to find pricing power if producers spend less. they are also confronting a rise in wages, maintenance spending, and an increase in material costs because of things like the u.s.-china trade war. here are the positives. oil majors are now in u.s. sale and in the permian so they will be less sensitive to lower oil prices. activity is also above the seasonal average, and when prices stabilize, activity could come back with a vengeance. so where is the bottom? halliburton reported earnings with a mixed picture. north american revenue actually fell versus a 7% rise internationally. i sat down with dan everhart, small oil c

>> european big oil is positioned relatively well considering the macro environment. 14 oil downturn, these companies had to respond swiftly capex, and divesting non-core assets to shore up balance sheets. we look at the european oil space as relatively well positioned. they have a lot of tools in the toolbox to manage their balance sheets. positiveee cash flow outlook at about $60 a barrel next year. it is important to keep in mind these companies have been through the wringer from the 2014 oil downturn, and they are about as best positioned as you can be are the current price environment we are witnessing now. i will start the process of chasing people for oil comments over the next 10 days. hostess lena komileva, managing partner/chief economist, g plus economics, battered and bruised it was a torture year on oil. the question to you is, what does it take to get an emergency meeting, or something more from opec on the 1.2 million barrels they promised a couple weeks ago? much this is very expectations management for opec at the moment. is in unstable equilibrium, an

there anything in the credit space they you like with big oil? -- that you like with big oil?ergy as a whole, we have been underway to neutral depending on the strategy. we have seen a big pullback in terms of tightening of spreads in u.s. high-yield oil related credits on the back of stabilization and partial recovery in the oil price. havethink that where we saw there has been more opportunities in terms of the credit space on energy has been in the emerging markets, i a lot of those our cause i sovereign. quasise are -sovereign. the dividends of european big oil, is it worth capturing aose or is it too long of wait to see total return? well, i mean, i am not sure if i appreciate your question. where the in a world issues around climate change in the potential for stranded assets, over the long-term, there are challenges for the carbon sector. in that basis, you want to look for opportunities which are broader in terms of the energy sector than simply looking at a coil. atncine: -- simply looking big oil. francine: thank you. up, a thing or two about brexit. that is it :00 a

kicking off big oil, big earnings with a big beat.arter adjusted net profit of $5.69 billion. the debt ratio comes in at 20%. this is the critical issue. can they remain on track? the third front of that share buyback program will begin. that beat estimates in terms of the dividends and cash flow, $22 billion coming from them. the question is, are they investing enough money to continue the growth? with --ortable are they these are just some of the questions we will put to the cfo. she joins us very shortly. her exclusive interview right here on daybreak. a little more breaking news. nejra: let's turn from big oil to retail and look at h&m. fourth quarter pretax coming in a miss on the fourth quarter. capex to reduce. the four-year dividend per share beating estimates. gradualo see improvements in inventory situation. inventory development should be improving in the right direction. it talks about negative year-end defects. costs of 560 million swedish krona. the fourth quarter results negatively affected by logistics costs. perhaps a

they took numbers to zero for 2019 for most big oil companies. now back to $52 oil.hey have to completely revise you can't make earnings estimates for big oil companies any more it doesn't work. none of the models work any more i wouldn't want to be an energy analyst right now. >> we'll see the numbers next week bob, mike, thanks. >>> before the break, look at shares of activision blizzard. getting crushed. down 10% ocisow40% in the past three months we'll tell you why next. >>> i am scott walker. here's what's coming up top of the hour strategist tom lee is with us to reveal his 2019 outlook. >>> and a food fight over our call of the day. which restaurant stocks are your best bets this year. and big note on apple from katie huberty. that stock's next move, we'll do it on the half see you in a bit >> that's the question, scott. we'll see. >>> let's get to the cme rick santelli has the santelli exchange rick >> thanks, jon in order to understand the global funk, we need to see how it all developed i think that's pretty easy in macro terms. the election 2016, for getti

say no tong to subsidizing big oil and yes to passing a green new deal.hose are some of the ways we become the smartest, the healthiest, the fairest and most prosperous nation honors. it is a blueprint for 21st century opportunities. so you know that this is always accepting i won't be a dime of pac money in this campaign. and as president will work to overturn citizens united to get .ig money out of politics and's why i'm running that's what i'm running for. i'm going to have more to say in the coming days and weeks about my plan. throughout our nations history, even in its darkest days, there have always been patriots who come together to do the hard work that it took to get it closer to our nation's ideals. those who fought to abolish slavery, suffragists who marched and organized for a women's right to vote, a generation that sat in at lunch counters and marched across the edmund pettus bridge, the activists at stonewall. those are inspired a generation marching for our lives today. people who challenge us to continue to perfect our union. you and i s

[applause] we are going to say no to subsidizing big oil, and yes to passing a green new deal.applause] ways wee some of the will become the smartest, the healthiest, the fairest, and the most prosperous nation on earth. it is a blueprint for 21st century opportunity. you know this is always about you. i will not be accepting a dime of pac money in this campaign. [applause] president, we will work to overturn citizens united to get big money out of politics. [applause] that is why i am running, and that is what i am running for. i will have a lot more to say in the coming days and weeks about my plan. throughout our nation's history, even in its darkest days, there have always been he treats who came together to do the hard work that it took to get us ideals,o our nation's those who fought to abolish slavery, suffragists who marched and organize for a woman's right to vote, a generation that sat in at lunch counters and marched across the bridge, the activists at stonewall, those who inspired a generation of marching for our lives today. people who challenged us to continue to

the value of big oil is that it is a star value it is hard money and it is predominately useful for the poorest to move the poor or you are the greater the need you have for sound money. well that's what i said but men want to know what did what is what made my mind i did my last useless problem. i think. everybody. say we had the lamp insulation today we need to try to get an understanding of the big challenges around waste management on these small islands the way you have all of this plastic and thing on the street maybe sees the world comes wrapped in plastic and is really very limited options to what you can do with that few things get separated the majority of it does get buried you can see here you know this is this is where all of the waste from the whole. is not really any separation and see their household level or at least this and. trust. issue because i'm sure you've seen them. there even more expensive to deal with because you need to. you know. it's getting to. some of them to. so much. well. you know it's not really a system to deal with it. makes me sad in one way. but

setback in a referendum that was put to the voters, which was essentially a kind of carbon fee on big oilompanies. it was put directly to the voters, and it lost in a liberal state where you're popular, where these ideas are not anathema. what does that say to you about the politics of this issue still in the year 2018-2019? >> it says we need to use different tools. >> that's interesting. >> we have lot of tools in the toolbox. >> does that mean carbon toxs are politically toxic and dead? >> not necessarily. i wouldn't take anything off of the table. but as of this moment, today we adopted new emission standards. we're going to adopt 100% green grid law. we intend to make net zero homes and intend to give to outlaw super pollutants. so we elected ten new legislators in my state, all of whom are committed to working with me to defeat climate change. i believe by next spring, you'll see washington continue the path of defeating climate change. by the way, we have had real success. we have a multibillion wind industry, because we passed a renewable portfolio standard. we have these jobs we'

big oil, banks, and traders launch a block trade platform. ♪ alix: i'm alex steele and welcome to bloombergedge," 30 minutes focused on companies, fiscal assets, and trading with the smartest voices in the busi

big oil, banks, and traders launch a block trade platform.'m alex steele and welcome to bloomberg "commodities edge," 30 minutes focused on companies, fisc

. >> now big oil is going big on hiring more women. helping themus is indy veteran katiemaynard, who vividly recalls a remark made by a man sitting nexto her on a flight. >> he said what's a pretty young lady like you doing in a dark, dangerous business like oil and gas? >> she decided to create pink petro, a for-profit company funded byhell andthers to reach out to women who may have never even considered a career in energy. >> the outreach to women is happening as oil prices are falling, which is providing an extra challenge i to anustry with an aging workforce that really needs a new generation of workers, male or female. >> we need to think about the marathon, it's not a sprint. >> i'm 40 now, but i don't remember growing up somebody saying, why don go to work at the plant, or you could be an engineer. ome of the women mentor each other about opportunities and the challenges, like not always being recognized as a senior engineer. >> when i wald in the room, a person asked if i could put their coat up. >> but that's happening less a

down this passage we don't know the details but one of the major central banks will start putting big oil along with gold into their strategic reserves and this will set off a mad scramble for gold and that. would normally get this manufactured sentenced to public will. when the ruling closest to protect themselves. with the crime. nor middle of the room to. come back to ati now there has been a social media backlash after an american muslim activist was misidentified as a pakistani troops by u.s. fashion magazine vogue. posted a video on instagram capturing the moment she found at the glossy publication and got the name wrong. to. the north a gori here is a journalist of libyan origin who promotes women's rights she gained global media attention by becoming the first muslim women to appear in playboy shoot for which though she did wear hijab and also wear the clothing she was mistaken for actress nor cari who is this who has the same first name to gori says she's been missed identified multiple times by the media before last year her photos were used to represent nor sell man the wife of

climate change even if they know it's happening one is of course to the bought off government funded by big oil companies that are you completely unaccountable to the american people now so that's a big one but another is that many americans perhaps fifty percent of us are just worried about kind of their day to day how to pay their bills do you feel any quality in poverty or kind of inexorably linked to the fight first attainable climate. oh absolutely absolutely i mean capitalism in contemporary neoliberal capitalism is in some significant sense the source of the problem and the reason that is continuing to worsen rather than leveling off or improving and part and parcel of that is sort of the is a ration of the citizenry keeping them in something like a provisional existence where they're unable to plan for their future because there are so tremendously in secure economically and otherwise no job security problems with housing we know that homelessness is is on the rise particularly here in new york city and so yes there are structural reasons owing to the organization of american capitalism

the value of big oil is that it is a store of value it is hard money and it is predominately useful for the poorest among the poor or you are the greater the need you have for sound money. welcome back to. the global news network c.n.n. is expanding into new markets opening a portuguese language station in brazil but the team heading the operation is raising more than a few eyebrows. thanks . presumes donald trump extreme views on a variety of things telling a congresswoman she was not pretty enough to really express. like. a military dictatorship. this isn't. some people might try to tell you that it's been in your mind even start to believe this is opinion. but it's not. isn't. well quite a few hours ago now we asked for response from c.n.n. to these appointments although if yet to receive a reply. meanwhile and now the us media outlet buzz feed has again insisted a controversial article it published is true despite it being branded as not accurate its by the office of special counsel robert mueller the story alleged donald trump ordered his former lawyer to lie to congress about deal

. >> now big oil is going big on hiring more women. helping them as iustry veteran katie mainrd who vividly remarks made by a man sitting next to her on a olight houston. >> he said what's a pretty young lady like you doing in a dark dangerous business like oil and gas. >> she decided to create pink pet troll. a oil company funded comny for women. >> it's happening as oil prices fall which is providing extra calk to an industry with a anor agingorce that needs a new generation of workers male for female. we need to think about the marathon. it's not a sprint. >> i'm 40 now butr don't remem growing up somebody saying,ening you could be an engineer , u know. >> some of the women mentor each other about opportunities and the challenges like not always being recognized as a senior engineer. hen i walked in the room a person asked if i could put their coat up. >> but that's happening less and less. >> i work hard, want to learn. i like to help people. and because of that i feel respected. >> in the end, why rruit women? in an industry needi

this pass and we don't know the details but someone of the major central banks will start putting big oil along with gold into their strategic reserves and this will set off a mad scramble for bars gold and the. welcome back to. this being the new development in the script poll case in the u.k. it's been revealed one of the first people on scene to administer help to the poisoned ex russian spy on to stuart or was a senior army medic with all the details his artie's poly boy. it was a seeing our army medic and her teenage daughter at it it's been revealed one of the first responders when again yulia script was found collapsed on a bench and souls prayed last macho now the local teenage girl had recently undergone a first aid course at school and the family had been selling. rating the girl's brother's birthday so they were out in the city center and the sixteen year old girl spotted the pair unconscious and she didn't initially thought that. was suffering from a heart attack so she quickly alerted her mother who happens to be a british army know that together the two of them gave the scri

you know we get it there is oil there that's the big point yes. when you grow up during you know when you when you grow up watching the full force of the iraq war in the lives of a little hard to not feel like oh the biggest oil reserves in the world. it's it isn't alexander main notes for the center for economic and policy research the recent science and the trumps you know unilateral and illegal financial embargo that he recently put on the country you know essentially cut venezuela off from financial markets essentially assuring the they would have the economic debate of that because they had no way of rebuilding the. you know they have the rebuilding the government and rebuilding their economic infrastructure they've had two major consequences the first it causes even greater said shortages of essential goods including food and medicine second it makes economic recovery nearly impossible since the government cannot borrow or restructure its foreign debt and in some cases even carry out normal import turns actions including for medicines which

the value of big oil is that it is a store of value it is hard money and it is predominately useful forthe poorest to move the poor or you are the greater the need you have for sound money. mean i mean i did you go where you know your. own genius one of. those whom you know most of. us who is notable to be a very good month but would you. please them please the ways of the why do bundles religion as the why. not. use them yes this is no. good for those of the church is good. news for the movie. in twenty four you know bloody revolution to the demonstrations going from being relatively peaceful political protests to be creasing the violent revolution is always spontaneous or is it you still were here. put me in the. schooling needle the former ukrainian president recalls the events of twenty four. those who took part in this today over five billion dollars to assist ukraine in these and other goals that will ensure a secure and prosperous and democratic. state . of it would like a shooting anything but all options are on the table nicolas maduro breaks diplomatic relations with the us of

the value of big oil is that it is a store of value it is hard money and it is predominately useful forthe poorest to move the poorer you are the greater the need you have for sound money. and the instant media darling and certainly a fresh face the newly minted congresswoman alexandria ocasio cortez is rattling some democratic establishment cage's she calls herself a democratic socialist and she has some big clients is the democratic party and america ready to take a seat. u.s. veterans who come back from war often until the same stories. were going on for the people who were killing civilians they were not interested. well being up there on soldier side there are already several generations of them so i just got this memo from the search that says we're going to attack and destroy the government in seven countries in five years americans pay for the wars with them money others. lives if we were willing to go into harm's way and willing to risk being killed for a war surely we can risk some discomfort for an easy way for. the. night. i. look. in suing political crisis in venezuela prom

because of the rise of see if she is successful and humans have a agency that's a net negative for big oil in the short term but i will say because there's a lot of people that don't want her seizing power in any meaningful way. is this is a stick of water bottle phone in the stomach of the fish the brand is part of the coca-cola company which sells millions of bottles of soda every day the idea was that let's tell consumers there are the bad ones there are the litter bugs are throwing this away industry should be blamed for all this waste to company has promised to reuse the plastic. on the. shelf i know the mountains of moist only grow. their. own part of the russians have to clean up their act that has been the refrain from international sporting officials ever since the doping scandal hit the russian olympic and paralympic three years on the russian anti doping agency has regained its compliance status within the water system and the question. about the integrity . the country's peaks boards still remain will they ever be sat down to discuss that i'm now joined by the newly appointed d

fact that in order to create businesses you need to have clear rules about private property and with big oil and that means some special considerations must be made so walk us a little bit about that yes so i mean these wyoming cowboy is good fences make good neighbors and big when we have very bright lines you know private keys you give you the dominion and control over the big point well its ownership is a completely different thing that's a legal determination that's made under a legal regime and so how do we determine these property rights so for example under the u.c.c. there are a bunch of general asset liens that are income bring a bunch of big ones out there and in a lot of ways these liens don't get properly released in the liens track the big coins and and you might buy a big coin but you don't actually get perfected title or superior title to lead holder even it disappears even a zero out of my purchaser right so the thing about declawing is that it's not really fungible it in the sense that gold can be fungible melted down and recast in that you don't really know the prominence o

when there's been a big oil spill or saltwater spill or some pipeline problem, there's isn't necessarily to slap a huge finis ohman. they try to reduce fines and give them a time where they can work it out. and i think people in north dakota are just real grateful after many decades of declining population and economic opportunity to have this industry that is really high-paying jobs. i know the salaries have come down somewhat, but back in the day people could make $100,000 a year with very little skill, just come up and join the labor force. that has been seen largely as a good thing by people there. [inaudible] >> fracking is different in different states. so north dakota does not have problems with earthquakes, but yeah, each state it sorted differently, culturally, scientifically. [inaudible] >> the biggest oil operators can one of the interesting things that north dakota is that unlike texas or colorado, they don't have any other oil operators taste in the statement if you look at the list of the top oil companies there, they're usually based in texas, oklahoma or colorado. does an

this passage we don't know the details but some one of the major central banks will start putting big oil along with gold into their strategic reserves and this will set off a mad scramble for bar gold and it. seems wrong. well we just don't call. me. yet to shape out these days to come out ahead and in gains from it because the trail. when so many find themselves worlds apart we choose to look for common ground. i've been saying the numbers mean something they matter the u.s. has over one trillion dollars in debt more than ten dollars times happen each day. eighty five percent of global wealth you long to be rich eight point six percent market saw a thirty percent rise last year some with four hundred to five hundred three per second per second and bitcoin rose to twenty thousand dollars. china is building a two point one billion dollar a i industrial park but don't let the numbers overwhelm. the only number you need to remember is one one does not show you can't afford to miss the one and only boom but. i. welcome back to cross talk we're all things considered i'm peter lavelle toronto

would have the problems in these countries turkey venezuela the list goes on and on and the value of big oil is that it is a store of value it is hard money and it is predominantly useful for the poorest so the poorer you are the greater. the need you have for sound money we encountered this condescension towards ordinary people back when before a bit quaint in two thousand and eight and two thousand and nine when we were doing coverage on gold and silver people always left in the commons always said gold is just for rich people because as one thousand two hundred dollars an ounce silver is for rich people they always condescended to them and that these people just need you know to get by for the day they're just looking to get a meal for the day well in fact as the women in india have proven that the really important thing is to have a store of value that cannot be inflated away by the elite who then condescend to you you know this is same problem we have across america the heartland they have to listen to rachel maddow they have to listen to enter some cooper these people who make seven mi

the value of big oil is that it is a star value it is hard money and it is predominately useful for the poorest to move the poor or you are the greater the need you have for sound money. u.s. veterans who come back from war. seem stories. were going out for the people who were killing civilians they were not interested in the wellbeing of their own soldiers either there already is several generations of them i just got this memo from the search that says we're going to destroy the government. seven countries in five years americans pay for the wars with their money others with their lives if we were willing to go into harm's way and willing to risk being killed for a war then surely we can risk some discomfort for an easy miss for peace. yes. that. was. the. best way less sevenths relations with the united states.

so you're absolutely correct it's a big oil producer elf has been there for four for a long time about one point four one point two two one point four million barrels a day spread over just a population of two million and a probably one point nine five million have seen nothing of it so you've got you've got an extremely unequal society i think the soldiers what will be very very much supported and i think this is essential a the end of an era you know the election that mr president bongo was the incumbent he won it by a statistically impossible impossibly small margin which speaks to increasing lack of popularity this whole model of remote controlling countries cameroon and neighbors in a similar scenario of nigeria last year the president went to a wall for a few months it's telling it's no longer possible and that is a really important development one final point i don't think they've been at a hospital that's why i was in morocco and i think african leaders better consider the fact that it builds a mosque but also that they can stay in country when they fall sick a lease that might