what this is really about is money and profits for big oil. make a lot more money when they can export that oil in the world market. why when we talk about developing the coastal plain of the arctic refuge, no one should be confused by these claims that would go to american consumption. it won't. t will find top dollar on the global export market, because that's where big oil can make the most money, and that's the agenda, we heard about, is all about. with that i reserve the balance of my time. the chair: the gentleman from california reserves. the gentleman from alaska is recognized. mr. yumming: i yield two minutes to the gentleman from louisiana, mr. graves. the chair: the gentleman is recognized. mr. graves: thank you, mr. chairman. i want to thank the representative from alaska for yielding time. i want to say it again, i want to thank the gentleman from alaska. the soul member -- seoul member representing all alaskans in the house of representatives who joins with his senators, the entire alaska delegation, in opposing this bill. i heard

coming up, a special look into south america's oil prospects. careersxt big boom tonight at 9:00 eastern time. we will have a preview of that next. this is bloomberg. ♪ vonnie: this is bloomberg markets. i'm vonnie quinn in new york. amanda: i'm amanda lang in toronto. longo and venezuela have been the oil powerhouses of latin america, but with political uncertainty and volatility mounting, a new set of oil-producing countries are set to transform the region. alix steel is with us with her upcoming program diving into south america's oil prospects. you were in argentina. what did you find out about the i wentil situation alix: down there in april, before the primaries, so situation has changed. they have very good shale rock. the industry has been developing somewhat. it is to be dominated by the state owned oil industry, but now there is another player. the first e&p independent in the region, and now the second largest producer in the area. you also have every single big oil company in the area from conoco to exxon. inneeds $20 billion investment a year to

we believe that big pharma and big oil and the nra don't own washington.he citizens of this country own washington. we believe in science and in facing the existential threat of our time, the climate crisis. that is why on day one as president, i will sign us back into the international climate change agreement, and on day two, i will bring back the clean power rules. on day three, i will bring back the gas mileage standards. and you don't need congress to do it. on day four, five, and six, i will introduce sweeping legislation to bring down greenhouse gases and solve this climate crisis. on day seven, you are supposed to rest, but i don't think i will. you know what else we believe in? we believe in a country where the extraordinary courage of ordinary people like that mom that shielded her baby in el paso, like those police officers that showed up in one minute in dayton, we believe that the courage of ordinary people must be matched in a place of extraordinary power, and that is in washington, d.c. when i am president, we will pass the assault weapons b

what this is really about is money and profits for big oil. make a lot more money when they can export that oil in the world market. why when we talk about developing the coastal plain of the arctic refuge, no one should be confused by these claims that would go to american consumption. it won't. t will find top dollar on the global export market, because that's where big oil can make the most money, and that's the agenda, we heard about, is all about. with that i reserve the balance of my time. the chair: the gentleman from california reserves. the gentleman from alaska is recognized. mr. yumming: i yield two minutes to the gentleman from louisiana, mr. graves. the chair: the gentleman is recognized. mr. graves: thank you, mr. chairman. i want to thank the representative from alaska for yielding time. i want to say it again, i want to thank the gentleman from alaska. the soul member -- seoul member representing all alaskans in the house of representatives who joins with his senators, the entire alaska delegation, in opposing this bill. i heard

looking at the oil price this higher on big push the saudi news. ment of where we go, do we know the oil spike, will it be temporary or an oil shock that permeates the economy? isjamin: i think now it temporary in terms of the size of the spike we saw. , we weree weekend minister. the oil demand was the big factor last week and in previous weeks demand growth was slowing. all of a sudden supply is back into focus. that someowing you big oil infrastructure facilities are more vulnerable the hand previous thought. saudi aramco was thought to be very well defended. further going to be attacks, that is a possibility. if there are, that increases the geopolitical risk premium in the oil price, particularly in the brent oil price. even so we saw that spike come down, the spread did not widen out more. if you look at 2011 when we saw the toppling of qaddafi, that widened out to more than $25. there is more premium to put their. against that, what you have around the world are bigger oil inventories. build inventory yesterday. saudi aramco's stockpiles arou

currently, we're selling our artificial intelligence to big oil and gas to help them extract oil more the exact opposite of what we need right now. scientists say absolutely, to avert catastrophic warming, we must keep fossil fuels in the ground. 0rganisers have said they hope as many as 1,700 amazon workers will choose to walk out at their offices around the world. they have said they don't expect there to be any personal repercussions from amazon about their decision. dave lee, bbc news in san francisco. let's go to asia now, and japan is expecting a financial boost from hosting the rugby world cup, that gets under way later today. rico hizon is following the story. hello. do you have world cup fever today? absolutely world cup fever. russia versus japan tonight at the tokyo stadium. everyone is excited for the very first game. and of course, organisers are excited as well, victoria, because they are forecasting a potential windfall from this rugby world cup, which can bring in around $4 billion to the economy. and that will mean nearly 500,000 foreign visitors visiting japan during

coming up, the big promise from big oil. how are the oil giants doing on their climate numbers? traveling to work, tune in to work, tune into bloomberg radio, live on your mobile device anywhere in the world. just type in bloombergradio.com in your browser or in the london city area, check us out on london dab digital. this is bloomberg. ♪ >> i refuse to postpone taking on climate change. we will address the catastrophic problem of climate change and transform our energy system away from fossil fuel. >> we will make sure we get to net zero greenhouse gas emissions no later than the year 2050 and we're halfway there by 2030, that we mobilize $5 trillion over 10 years to do that. >> by 2028, cut all carbon emissions for new building. by 2030, carbon emissions for cars and by 2035, paul carbon emissions from the manufacture of electricity. the leaders the g7, of some of the greatest powers of the world sitting to talk about one of the greatest challenges in the world, climate change and there was literally an empty chair where american leadership could have been. nejra: those are t

over the weekend we already heard from amazon but also on monday big oil companies will make their own pledge aiming for ned 0 emissions something we will need to keep an eye to was a reader who in new york thank you very much for the analysis and have a good weekend now on to other business stories that we're following for you the new york federal reserve bank says it will inject 75000000000 dollars a day into the u.s. financial system for the next 3 weeks as a tries to prevent a spike in short term interest rates u.s. banks have struggled in recent days to find the cash needed to meet core capital reserve requirements that has pushed up short term borrowing rates sharply. u.s. president donald trump has announced new sanctions on iran over its alleged involvement in attacks on saudi arabian oil production facilities the sanctions target iran central bank and sovereign wealth fund and. japan and the u.k. have signed an agreement to ensure business continuity after brics it the british international trade secretary has been meeting with jennifer mees foreign minister in tokyo 2 countri

currently, we‘re selling our artificial intelligence to big oil and gas to help them extract oil more must keep fossil fuels in the ground. 0rganisers have said they hope as many as 1,700 amazon workers will choose to walk out at their offices around the world. they have said they don‘t expect there to be any personal repercussions from amazon about their decision. dave lee, bbc news, in san francisco. joining us is emma—lou montgomery, associate director at fidelity international. let‘s talk about what‘s happened with the pound sterling, the value of the pound, those comments from jean—claude juncker, interesting, he proclaimed no erotic attachment, not emotional attachment! who knows what goes on in luxembourg? it certainly helped inflate the pound. he and borisjohnson could best be described as cautiously optimistic but the markets haven't let that dampen party spirits in the pound sterling has shot up, definitely good news for the pound today but let's see how long that continues, it's been up and down with every sort of twist and turn with brexit so sort of twist and turn with br

she has also done some pro bono consulting in cases against big oil. so anne, walk me through the. the intermediary factor comes into play with the oil companies. >> sure, katie. so to begin with, one thing that's important to note is the. case took place in oklahoma, which is partly known for being a liberal state. it's one of the red estates in the country. and yet the judge used what's called public nuisance law to hold johnson & johnson liable, even though johnson & johnson was not the principle pharmaceutical company actually prescribing the medication or selling it to doctors. instead, they provide the narcotics that other companies use to put into their products. in the same way, cities and counties and the state of rhode island around the country are suing oil companies who extract oil out of the ground, refine it, and then sell it to utilities and gas stations. so there is a parallel in using public nuisance law in different states and also trying to hold an intermediary liable for knowingly selling a product that it knows causes harm. >> so it's a public nuisance to know t

big concern. all against oil but i'm also really afraid of the damages that can happen if there is a big always beenso i wouldn't take the risk. but things may be changing recently norway's opposition labor party with drew its support for next gratian meeting now there's a majority in parliament to keep the islands off limits the young people today and they are more important about the future climate change. about. and i think the fish wrists and the tourism industry is the future more oil and gas especially in the. arctic areas norway is a nation made rich by 4 decades of oil and gas extraction the sovereign wealth fund worth a colossal one trillion dollars so every move away from fossil fuels is significant and the climate crisis is also more real it's close up in our face to have to do serious stuff the next 10 years. on educating people and already understand that that's it when we start to understand that there will be some changes on the small to even maybe a politically the side of the market will change to the mound of consumers will demand. we're happy with the very progress before those in

it's also about doing the bidding of big oil. and that's not just conjecture.hot. that's not just an opinion. look at what marathon petroleum and others have been doing, working very, very deliberatively to get these obama-era rules overturned. >> you may have just answered part of it. it may be redundant, but i'll ask you this. the gop has always stood -- at least they say they stood for states' rights, right? yet this is a republican administration exerting its authority over your state. why do you think this is happening? >> federalism be damned, states' rights, tenth amendment be damned. ronald reagan, richard nixon be damned. remember, the origins of this are ronald reagan in 1967 when he wanted to clean up the air down in los angeles, the smog. it led to the clean air act in 1970. richard nixon, bipartisan, they'd be rolling in their graves right now what the republican administration is doing and moreover what the republican party is doing. complicit. complete silence on states' rights, but also free enterprise. i'll repeat what i just said. they're call

oil. from mars perspective, it's a -- from our perspective, it's a pretty weak investment. prefer correlated strategies, value strategies like russia, where you paid a bigattractive currency. matt: well, we have seen the oil price get weaker and weaker, even as a supply gets cut out of iran for example or venezuela on concern that global growth is simply slowing down and that demand.gn in do you still think that's the case? alan: i think that's the case today. global growth has definitively slowed down. there are tentative signs of an improvement in global growth. if you want to look at dramatically, the baltic dry index, the price for shipping containers is that a 90 year --h -- at a 90 year high nine year high. there are other indicators that are quantitative team looked at indicating that if we look forward, there are reasons to be more cheerful on the manufacturing sector, which would correlate with a slightly positive tone for oil. welly, the way to play it, are unlikely to play that by just going along the oil commodity -- going long the oil commodity. anna: when you see trade tensions, some trade has to travel further than it would otherwise beca

to explore in the past this has been supported by the government for many it's a big concern i would say are all against oil but i'm also really afraid of the damages to can happen if there is a big always been so i wouldn't take the risk. but things may be changing recently norway's opposition labor party with drew its support for next generation meaning now there's a majority in parliament to keep the islands off limits the young people today and they are more important about the future climate change. about. and i think the fish wrists and the tourism industry is the future more than oil and gas especially in the. arctic areas norway is a nation made rich by 4 decades of oil and gas extraction the sovereign wealth fund worth a colossal one trillion dollars so every move away from fossil fuels is significant and the climate crisis is also more real it's close up in our face we have to do serious stuff the next 10 years. and educated people and already understand that it's it when we start to understand that there will be some changes on the silty even maybe a politically the size of the market will change

explore in the past this has been supported by the government and for many it's a big concern i would say are all against oil but i'm also really afraid of the damages that can happen if there is a big always been so i wouldn't take the risk. but things may be changing recently norway's opposition labor party withdrew its support for next gratian meaning now there's a majority in parliament to keep the islands off limits the young people today and they are more important about the future climate change. about. and i think the fish wrists and the tourism industry is the future more and that oil and gas especially in the. arctic areas norway is a nation made rich by 4 decades of oil and gas extraction the sovereign wealth fund worth a colossal one trillion dollars so every move away from fossil fuels is significant and the climate crisis is also more real it's close up in our face you have to do serious stuff the next 10 years. that you care to people in already understand that it's even we start to understand that there will be some changes on the small to even maybe a politically the size of the market will

oil. not to the degree thod we e more. and -- so, i think the bigimpacts will be higher greenhouse gas omissions in ant u.s.also a struggle on the part of consumers to afford fuel for their vehicles. >> we will have to leave it there. thyok you. >> thankfor having me on. >> earlier this week state health officials confirmed that he met in tulare county has on died from complinked to the use of e-cigarettes. there are now two deaths and more than 80 potential cases of lungisease linked to ping in california. nation wide, hundreds of cases of illness linked to the use of e-cigarettes and vaping products have been reported in 38 states according to the cdc. rnmeanwhile on monday go garrison out of the cracked out on vaping products in the state and a marketing campaign to cuci the use of rettes biting his. timing out to talk about this is kqed health reporter. and dr. erika pond, help alofficer for the eda county pubic health department. laura, i would like to start with you. the man who diedad -- his death was confirmed just this week but can you tell

currently we are selling our artificial intelligence to big oil and gas to help them extract oil moreight now. scientists say absolutely, to avert catastrophic warming, we must keep fossil fuels in the ground. 0rganisers say they hope that up to 1700 amazon workers will choose to walk out and said they don't expect there to be any personal repercussions from amazon about their decision. dave lee, bbc news in san francisco. elizabeth sturcken is a managing director at the environmental defense fund advocacy group. one of the organisation's aims is to curb carbon emissions globally. i know that it is an advocacy group and one of your aims is to curb carbon emissions globally. it is clear that not all amazon employees are convinced by jeff clear that not all amazon employees are convinced byjeff bezos‘s pledge. why are we making a fuss about amazon? this is amazing. it is impressive. and it is about time. amazon has been behind the curb on this and the fact that they are stepping up now in a really remarkable way is really to be taken note of. now the hard work starts. the implementation

kicked out of the reserves falls ass backwards into a half $1000000.00 a year job on a ukrainian big oil board why do you think the executives wanted him on that board do you think it was for his great carry of personality. or perhaps the fact that his mother other brother joe biden. anyway i'm not saying trump isn't corrupt but the way the mainstream media is playing it the bidens are are are mother teresa and nelson mandela and they're skipping around the world handing out pussy rolls to blind orphans or something. so still don't know the answer so if there was a prosecutor looking into this company that hunter biden with part of and there doesn't seem to be any evidence that they were looking at 100 biden but what does joe biden do all that joe biden telling you what joe biden did and that was good was supposed to announce that there was another $1000000000.00 loan guarantee and gotten a commitment from poroshenko and from yatsenyuk that they would take action against the state prosecutor and they did so they sent their walking out to press kind of senate and i'm not going to we're no

like china, germany, and japan, big oil importers in their own right, will get hurt the most. when those economies start to slow, so, too, does the global economy. >> andrew stevens keeping an eye on the oil prices around the world. >>> the white house is silencing two former aides and an extrump campaign manager. they were southbounded to appear before the white house judiciary committee. they are not expected to appear. lewandowski is expected to show up. but the white house is directing him not to answer questions about events that took place after president trump was elected. jerry nadler calls the decision to keep the former aides from testifying a shocking and dangerous use of executive privilege. >>> the manhattan district, opening a new front for the opening of trump's tax returns. he has asked his accounting company. mr. trump reimbursed his personal lawyer, $130,000, he paid to daniels to keep her from revealing an alleged affair with trump. he says he will fully come play with the legal obligations. >>> the strike of gm gm has entered day two. workers are picketting

this president unfortunately is puttin handful of big oil companies over the health and safety of e californians aryone in the united states if they care about the future of air quality. michelle: we will have to leave it there. thank you so much for talking us through that. rep. levin: thank you for having me. laura: in other news, it is being reported that israeli prime minister benjamin netanyahu has canceled a trip to the u.n. next week after the wasn't a clear result in the second g geral election this year. with more than 90% of the votes counted, the opposition blue and white party have a slight advantare with a predicted 32 seats, just one ahead of prime minister benjamin netand hu's lirty. the u.s. federal reserve cut interest rates today for the second time since the financia crisis of 2008. the cut of a quarter of a point comes as the fed tries tgo to the u. economy against trade wars and slowing global growth. president trump was quick to take aim at his fed chief, again saying that had no guts, no sense, no vision. the u.s. hostage negotiator robert o'brien is to become president tr

environmentalist and freedom of speech advocates in the wake of the total access pipeline protests we saw big oil submissive legislators in both north and south dakota pass multiple new laws of the century outlaw various acts of protest especially the kind used to protest oil pipelines like the senate bill 189 in south dakota which according to the a.c.l.u. gives the state the authority to sue individuals and organizations for riot boosting but it does not clearly describe what speech or condit conduct it considers to be riot boosting essentially it could mean that if you helped organize or support a protest and then a fight breaks out at the event you could be held by nancy accountable due to your support of the riot thankfully a federal judge has put his foot down in the name of the 1st amendment temporarily blocked this of the and the enforcement of this law but that's not the only stand taking place in our courts in recent weeks as a as news of a class action lawsuit against both lowe's and home depot things to an illinois biometrics privacy law yes it seems that it's not just law enforcement

opioids out of time so i'll need the short answer but how do you think this is going to work against big oil with the climate change actions. they're working on it they're trying to make it fly it's going to be interesting though because you've got competing federal laws that are going to take into consideration that you have california that filed these laws as well and it's and it's moving forward these fossil fuel companies don't even argue anymore whether or not climate change exists or if they are actually contributing to the problem but under public nuisance what they're going to argue that is that that they're not responsible for those emissions that are contributing to the problem that's where you're going to see the rub is. where it will be will they be responsible and where will it be heard or federal court stay tuned thank you molly barrows from trial lawyer magazine. coming up republican president richard nixon gave us the environmental protection agency republican president george bush 41 beefed up the clean air act why are congressional republicans concerned the president from s

india, indonesia, are both big oil importers, as indeed, china, south korea, japan. vid: everyone else. rishaad: it's an hike for them. john: it is. it's an oil tax in many respects. it is tighter monetary policy and it is likely to cause central banks to become more dovish. protectuctant to currency. i think we can expect to see weakening on that side. i think we will still see dollars central banks. i think policy stimulus and some fiscal support on that side will be likely. the subsidies, it's a double whammy, because you're getting it at the same time the federal budget is being put under pressure. john: this type of effect on the oil price comes at a challenging and difficult time. david: let's say it is 140 or something like that, then where is before. john: there is uncertainty, and we don't know what will happen in the coming weeks. if there are some discussions that aramco can't get supplies back online, we may see oil taking higher. gher.king -- ticking hi rishaad: let's get to the business flash headlines. u.s. prosecutors closing in on price rigging up pre

oil and gas standing out. a big extra kick it, up by 3%.ctors, as you can by no means are they on the same magnitude. defensive bias. the bond proxies are again picking up. a little bit of movement as we see bond prices improving. household goods, chemicals, big input story from it'sil and gas sector area really the oil market that is driving things. individual single stocks that to,worth paying attention we are watching a massive move on the upside in the london market. the bigger integrated oil stocks are doing well today. there is a flipside to this, if you are a company that has a major input story from the price of crude, the airline sector, you are going to see taking some hits. the anomaly is airbus. in some ways the higher oil price should be good for air breath desk for airbus -- for airbus. other hand, airbus gets a lot of its orders from the big gold carriers. there is a story in politico talking about the wpo, which is impacting airbus as well. it could be impacting some of the luxury good stocks. the oil story, that is what you

from the left protein islands in norway an area rich in biodiversity but also in the course of the big oil company. hello everybody at this week's a little different on counting the cost we have that our correspondents and documentary makers loose on a number of important economic stories big picture stuff and given them a bit more time to do so and we're starting with what has become the world's most polluted capital city in the coding to the world health organization and greenpeace that city is new delhi in fact 15 of the 20 most polluted cities in the world are in india alone clearly it can't be good for people's health but how does it impact the country and its economy to 0 documentary make and how to mete as this feature report. he turns like many parents in delhi dr shell into but they already are knows that allowing his children to play outdoors comes at a cost. and is affecting a life with his. of his place. and experience he came really was some time i have to come in the middle of the night you and my daughter who was just one month old see all 3 are together with markets doctor

i was proud to be a fighter and took the big oil companies. great powerful interests. i was proud as attorney general of california to defend the toughest environmental standards, and i'm going to tell you something, erin, part of my passion and commitment to this issue is i've actually seen firsthand what happens when leaders lead. any of you go to los angeles, california, about 20 years ago? and remember what that sky looked like? it was brown. babies had asthma. there were warnings that seniors should not go outside. breathing that would cause considerable damage to their lungs. and then leaders led. the public said enough. you look at the sky in los angeles today, it's blue. we can do something about this. it is within our ability and we have evidence of this fact but leaders have to lead. on this issue, as far as i'm concerned. it is not a question of debating the science. it is about taking on poufrl interests. taking on the polluters. understanding that they have a profit motive to pollute and so let's take them to court. let's require it. >> you mentioned the p

currently we are selling our artificial intelligence to big oil and gas to help them extract oil moreow. scientists say absolutely, to avert catastrophic warming, we must keep fossil fuels catastrophic warming, we must keep fossilfuels in catastrophic warming, we must keep fossil fuels in the ground. 0rganisers say they hope that up to 1700 amazon workers will choose to walk out and said they don't expect there to be any personal repercussions from amazon about their decision. dave lee, bbc news in san francisco. more now on the global climate strike which is taking place around the world. in the us, 12 —year—old levi drayheim from florida has joined the charge against climate change. he's travelled to washington for the event and joined my colleague laura trevelyan a short while ago. what i'm hoping to achieve is to show adults that we care and to show the people that are in charge and in power that we care and we need to be taking action to save our future and our lives. why is it your generation thatis our lives. why is it your generation that is leading the way on climate change a

the fact that we are big oil producer is big. don't know if you don't look at the balance, you could be in a fair amount of trouble. >> we talked about how oil and gas single handedly pulled the economy out of the recession from 2008 to 2010. he leaned in and said, president obama liked oil and gas because it made the economy look better and gave the white house the only positive data point for about two years. >> i have a daughter who is an environmental engineer getting her degree if she's watching now, she'll hate i'm saying this that is a big deal it is a big deal when fracking was pulling us out we had that one anchor keeping us in that huge deal >> the reason i got involved more with the industry everything else was awful. this industry was up people were being paing up thckp their cars heading to north dakota they were moving and going to get a job. outside of the political element, oil and gas, what about grub hub is that short? >> you know, i own a restaurant. brants of palestine. we try to discourage people from using t

oil prices spiked as much as 15%. that's a big one-day move and they're now trading at the highest levels since may. the strike was right at the heart of this saudi aramco facility, the largest oil processing facility in the world, second largest oil field in saudi arabia. this is so unprecedented. we've never seen oil sidelined like this before, not during anything else. 5 million barrels lost. this is a brand new uncertainty for investors. the big question now is how quickly can aramco get its facilities back to full capacity? it's looking like weeks, not days. will the u.s. tap america's emergency reserves in storage in texas and louisiana? when and how much? the president has suggested the u.s. could tap into those supplies. even that suggestion could help keep oil prices from rising too sharply. you know, america began stockpiling emergency oil after the energy crisis of the 1970s, and this country is far different today than it was then. we are now a net producer of energy. but the oil market is still a global oil market. th

environmentalist and freedom of speech advocates in the wake of the total access pipeline protests we saw big oil submissive legislators in both north and south dakota pass multiple new laws of the century outlaw various acts of protest especially the kind used to protest oil pipelines like the senate bill 189 in south dakota which according to the a.c.l.u. gives the state the authority to sue in a bid jewels and organizations for riot boosting but it does not clearly describe what speech or conduct conduct it considers to be riot boosting essentially it could mean that if you helped organize or support a protest and then a fight breaks out at the event you could be held by nancy accountable due to your support of the riot. thankfully a federal judge has put his foot down in the name of the 1st amendment temporarily blocked this is the enforcement of this law but that's not the only stand taken place in our courts in recent weeks as a as news of a class action lawsuit against both lowe's and home depot things to an illinois biometrics privacy law yes it seems that it's not just law enforcement in

india is a big oil importer. it buys two thirds of its oil. those prices are having the opposite effect on the indian ruby, which is lower than the dollar. weaker by my intent -- by nine print of a percent. you can see up top, energy stocks doing quite well, especially the e&p companies. earth on oil as higher by nearly 11%. underperformers, you have the airline and crew stocks, which are sensitive. higher prices are not good for these guys. american air down by 5%. carnival down by 2.8%. one analyst seeing a -- saying a 10% spike could not $.24 off of carnival earnings per share. vonnie: thank you for all of that. analysis, --et from our market analysis, we are .oined by kevin divney the events of this weekend -- how did they impact how you are looking at the market? kevin: it is our test of energy independence to see how much the market is saying the u.s. can maintain its own production. it is about a global commodity move. much less about the impacts of the u.s. economy. given this 16% move in the crude, it would be a lot worse five or 10 y

♪ ♪ >> hey, you know, i just wanted to let you know, you know, a lot of candidates are backed by big oil and i'm actually backed by big corn. >> okay. >> yeah, that's actually my brother-in-law, jeff. he needs the work. >> very nice. >> hey, i know there's a lot of candidates to choose from, and it's kind of hard to get any traction in the polls, so i was thinking, since beto o'rourke got a little boost and attention from swearing, i was wondering if i could try a little of that out and see if it might boost my poll numbers. you ready? >> all right, all right >> ( bleep ) environment ( bleep ). >> okay... ♪ ♪ ( laughter ) >> stephen: if he really was going to win over fair-goers, whytman would have to hit the same requisite stops of the other candidates. >> wow, a cow made of butter. a creature made out of one of its byproducts. you know, it's appropriate that i'm flipping pork chops, because if i become president i'm going to "chop" pork barrel spending. >> very clever. >> wow! what a perfect metaphor for my poll numbers! ( laughter ) >> stephen: on his way to eat a corn dog, whytman bu

in oil terms, that's a big rise. it's not the shock that some were anticipating. saudi arabia said it would supply oil to the market. this is a sell cat bal delicate. if they can restore the produshgs, we don't have a shock to the market. we're watching the petroleum reserves. whether it's the invasion of kuwait, right? the invasion of iraq. nothing compares to one-day strike of 7 billion barrels to the biggest exporter in the world. >> the context when you think of the major events, this is the biggest amount of oil to be taken off-seasline. >>> beto o'rourke clashing for his mandatory buyback program for self-style rifles. >> hell, yes, we'll take your ar-15 and your ak-47. that moment in last week's debate, was the first time a democrat suggested confiscatiin guns. >> did beto o'rourke say something that's playing inthoo the hands of the republicans? >> yes. we have an amazing moment on our hands. at least mitch mcconnell will bring it up. >> trump and mcconnell are pretending to be open to reforms. let's have the courage to say what we believe and fight for it.

oil up around $6. for the u.s. that's 3% of gdp. it's not a big deal. it's not zero. ey will benefit a little bit from higher prices. also the world knows that we have roughly a billion barrels of spare oil in various reserves that can cover six months of outages. for all those reasons, there is no reason to push the panic button. one thing you should worry about, is there a wider conflict between saudi and iran that results in a higher cutoff of supply? do you have prices spiking $40? that would definitely be a big problem. we have other urgencies going on, the tariffs in china, brexit and so on. how much more can the global economy take? not a lot more. >> do we know, and i don't want to simplify this, but if you're the average american and you're thinking this through, and you are a stressed american, you might think, what is this going to do to me? gas prices during the presidency, they spike up and down within every presidency, sometimes the president doesn't have anything to do with it, but sometimes the president gets blamed for it. this president is lucky consi

big spring. one of the two state regulators in charge declined to be interviewed on camera for this story. but the agency that oversees oiload commission, did sit down with us >> well, if you are an american out there and you say, look, energy costs are a big deal to me, i'm filling my gas tank up or i'm paying the electricity bill, energy prices are one of the big things that hit into my budget if i don't let people flare, then the cost of developing energy goes up dramatically. >> it's the most profitable oil field in the world, changing economics for the entire country. but at the same time, it's incredibly wasteful. most gas is let off into the air than it would take to power all the residential hoiss in texas. >> any energy source produced at scale is going to have an vierm environmental impact that's a factor that needs to be part of the conversation. >> i want everybody to see this. so the oil and gas industry has been lying to the public for over a decade. they're saying that natural gas is a clean energy. you can see it's not anduntil they stop expanding and drastically reduce their emissions, we will keep on thi

where would we if a big oil company in the world, a leader unindustry had done that? the question. where would we be right now? >>> and the man who's been sounding the alarm for decade, al gore. what's changed and the crucial work to be done now. >> individuals can't do it by themselves. it's way more important to change policies and laws. e impoo change policies and laws in the human brain, billions of neurons play in harmony. for people with parkinson's, some neurons change their tune, causing uncontrollable tremors. now, abbott technology can target those exact neurons. restoring control and harmony, once thought to belost forever. the most personal technology is technology with the power to change your life. -while you ponder that, consider adopting a rescue pet. there are 6.5 million of them; they all need a forever home. it would mean the world to them, and they will love you forever. >>> this is what would happen in florida. the area around calcutta, 60 million. think of the impact a couple hundred thousand refugees and then imagine 100 million. >> it has been

some of the big oil names dragging the market down. o seen some of the big names that have done quite well. the bond proxies have been having a better time. let's talk about the quarter we have just concluded. in many ways, a nonevent for risk assets. below the surface, there is been plenty of action. july, stocks went nowhere in europe. then we got to august. what in august it was. bond markets on fire. bond prices higher, bond yields getting to -70. a sharp drawdown. then we come back, we finish where we started, up 1.34%. in terms of what the maid markets look like today, let me give you closing numbers. you can benchmark all of this. ftse 17424. dax, 12,428. some of the buildings stocks in paris have done well. the cac 40 finishing the quarter at 5675. we stop the auction process to get through. some of these numbers will change of the next few minutes. we will bring you those numbers in a few minutes. let's talk about what has happened today in terms of volume. that is another factor worth focusing on. volume, you can see the huge

and the next big oil boom.ceo of vista oil and gas as part of my new special, a deep dive into latin american oil production. ♪ alix: i'm alix steel. welcome to bloomberg us "commodities edge." first, we kick it off with spot on, our take on the big story.

here's what wework know in terms of the size, they will value saudi arabia, the big oil company whichg public because they want to attack and other issues. it's to flow the deal and get capital. they were value the whole thing a $2 trillion. i can't tell you how much the do initially. they will understand this year is going to be the first one, this week will know the underwriters. here's what i understand from my sources who have spoken with saudia ram company. j.p. morgan as the book runner every bank is going to be involved. they are going to be the lead bank banks that handle most and get most of the economics, the one at the top is going to be j.p. morgan and from what unde i understand will be goldman sachs. both have pushed to do this deal and wework should point out when others when wall street said they were boycotting the crown prince conference early in the year, after the assassination, the wall street said wework are not going to go. they did send representatives. in the on-again, off-again clearly wall street that it was on again, that's why they sent the representatives