first of all, how much money do you think bp has made in the last quarter. think bp has made in the last., think bp has made in the last auarter. . ., ., quarter. thanks for having me on our quarter. thanks for having me on your show. _ quarter. thanks for having me on your show. strong - quarter. thanks for having me on your show. strong oil - on your show. strong oil prices, they have risen more than 70% in the past year and national gas prices in europe at an all—time high, that has been very kind to bp, they have boosted their revenues and also its refining margins as well, so it is not only the pulling the oil out of the ground that has benefited, but the downstream, turning that oil into products and selling that there has also benefited in this environment, so we are expecting strong results from bp, as as well as the other other oil companies that have announced results last week. it announced results last week. it has had a rollercoaster few years, because you remember when the pandemic first kicked in oil prices sunk significantly as global demand fell off a cliff, but let's no

bp has the capacity for annual increase through 2025 according to bp this morning. the third quarter reported upstream production will be higher than the second quarter. we are getting a host of guidance. interesting to think about where they go next. in terms of the energy transition, the ability of the business to deliver, the upstream production number, does that suggest transitioning? that is the goal bp management has set themselves. we will be talking with the ceo on the european market open. we will be asking him about these earnings, returning cash to shareholders, we will ask about commodity prices as well, hit by concerns around the delta variant. how much is that weighing on the thinking that bp and the thinking of the management team? we are just under an hour from the start of cash trading in europe, so let's look at the futures. we have a divergence across the atlantic. european equity market futures look flat to negative. it is already. this partly reflecting the weakness we saw in the u.s. later in the session yesterday. that weakness triggered a lit

bp reinstated the dividends.ident in that sound of -- that we played a little bit early on. painting and much more positive. talking about inflation, really underway. really positive they today for the european banks. alix: u.k. is considering blocking a takeover of nvidia. if you want to get more details now, here is alex webb, what is your read on this? alex: it could be cleared by the u.k., if they wind up blocking the deal there are ways to appeal that but it would take years. if the ipl happens in the u.k., that would clearly be the u.k. governance preference. that is the big question. guy: what is the u.k. governments concern? alex: generally it would cease to become a u.k. company. the hardest looking in silicon valley. many of its operations are already there. the ip continues to be developed here. that makes it harder to sell to china. more than 25% of the ip is developed within the united states at the moment, that cannot happen. keeping it inside the u.k. is better for the company. alix: what does arms

shares will go all the reasons why bp shares will 9° up all the reasons why bp shares will go up todayormation they will need to do successfully in order to survive and evolve into these green machines they need to become as sort of particularly as we think about the climatic changes and the disasters we have seen this year. it makes it all the more present for investors when they are looking to invest in companies and where to put their money. i think without turning into these green machines they need to become, they will continue to lose the sort of demand for shares they have seen in previous years. it really is key they start to reassure investors the transformation programme is on track and it is actually going forward. {lilia programme is on track and it is actually going forward. ok, the owner, thank _ actually going forward. ok, the owner, thank you _ actually going forward. ok, the owner, thank you very - actually going forward. ok, the owner, thank you very much i actually going forward. ok, the i owner, thank you very much indeed again today. just to say that bp shares will

that they don't have the necessary safety equipment in place, the lessons learned from bp.gs like a capping stack which comes out if there is a blowout to secure in the pipe, second relief well which is how the deepwater horizon -- only after 150 days, finally shut in, the mcconnell will blowout. these are not in place in guyana and he said he is far from comfortable with the safety of the operations and exxon should be far from comfortable as well. amy: before we end this part of the discussion, i want to go back to monique verdin of the houma nation. your group is called another gulf is possible. as we began to see the level of destruction, what is possible? >> well, i mean, the only ing that is really possible right now is for people to support people as best they can. from past disasters, we know it is really thoswho are on the ground who are able to support their community members, who know what they need. we currently have a mutual aid campaign there on anothergulf .com where we are trying to raise funds. we are planning to deploy a cover of just recovery vehicles in

bp ceo bernard looney will talk about the quarterly results that were out this morning.will be joining us as well. >>> dow futures are still up by 155 points after a down day yesterday. dow was down by almost 100 points yesterday s&p futures indicated up by 14, nasdaq up by 13. you're watching "squawk box" on cnbc ♪ ♪ ♪ ♪ >>> let's get a look at what's moving in the premarket. dom chi joins us now. >> i try to give you news you can use. we all know that the news becomes fluid especially as conference calls come out from these earnings reports couple of things we're keeping a close eye on things are predominantly positive we hit record highs at some point yesterday. one thing traders are watching right now is the dieynamic betwn the dow jones industrial average, a larger index like that, verse what's happening with the dow transportation index. you can see there the particular line, white line there is the dow yoens transportation etf it seems to be lagging it seems to be falling off a little bit versus the overall market to maybe suggest we're due for a pause. it's certa

obviously i am into watching bp. to pulse 80 on friday about chevron and exxon and he said no investor once an oil company to be an esg green company. bp is trying to do that so that will be interesting to find out. guy: exxon versus bp is amazing. exxon is saying it will stick with it strategy. i think that is fascinating. alix: i'll be tuning in for that. coming up, jason furman, former white house council of economic advisors chairman joins "balance of power" on dave westin -- with david westin. guy and i are going to her own radio show on dab digital radio. this is bloomberg. ♪ >> from the world of politics to the world of business, this is "balance of power" with david westin. ♪ david: from bloomberg's world headquarters in new york to our tv and radio audiences worldwide, welcome to "balance of power." we will start today with the main event in washington as the senate presses forward with the 2702 page bipartisan infrastructure package, even as democrats want to follow up with a $3.5 trillion budget chaser. co

>> that is right s shell and bp everyone hated it last week but it is up so we're taking opposite sided that is we look at the xop, it is got 2.5 to 1 on the the outside i'm looking at a range from 88 to 104 i know it was trading at 93 today. it is at the bottom of the trading range. so i would trade it. but we prefer to have the business, someone like shaw improvi improving margins and doing esg initiatives and bp we prefer to play the companies themselves but i've got nothing wrong with trading a stock like this, too. >> when you look at this, you have to be weary of esg as nadine just said to bp's chart pounced off the recent lows. the large names look better than if you go to the refiner names or anything else because the other names are factorying in we have a second slowdown or a lockdown yet again so it is value and nadine's names speak to the value complex. >> bono, where are you in energy. >> i'm on the side lines i think it was a big reopening darling and definitely had its run. i think given the unknowns you don't have to have a position on it and right now i don't have enou

sizable moves for bp, clorox, under armour, many more results coming for you after the bell. covid concerns are weighing on the travel sector. hotels, cruises, ride sharing names, all mostly lower. new york city announcing vaccine requirements for some indoor venues and chinese video game stocks are under pressure now after new criticism of the industry an state run media. we'll have more on that in a moment 59 minutes left to go in the session. nearly every sector in the green except for communications. some media stocks under pressure >>> a lot coming up on today's show the ceo of under armour will join us exclusively to talk earnings and the back to school season as that stock jumps on strong results and guidance. and we have more results coming after the bell as well from the likes of lyft, activision, amgen, match and more. we'll bring you all the numbers and speak with the ceo -- cfo of match right after those earnings cross. >>> let's focus on the big stories we're watching this hour bob pisani tracking today's market action. steve liesman with how americans are feelin

how far ahead is bp and transformation, or how far behind is aramco? something that will come to bite aramco eventually with the global investor mind. >> i think the provider of the cheapest and perhaps [indiscernible] globally, i don't think aramco is behind it all -- at all. aramco is going to be supplying 10-11 million barrels a day. they are one of the highest global corporate users. they need to diversify. this is not the case for aramco. i think personally, aramco 10-20 years from now is going to be producing the same amount of oil while everyone else drops off. dani: thanks so much for joining us this morning, karen. bank of america head of emerging emea energy research. angel: wildfires have threatened villages, forcing further evacuations. the blazes began almost a week ago due to a heat wave, cutting across a popular summer destination. destroying homes and businesses. thousands of residents and tourists have been forced to flee. a top to new york governor andrew cuomo resigned, as her boss contends possible criminal charges over alleged sexu

now, bp, bhp, chevron and royal dutch shell are all moving workers out of the region, and b hp, bp andhutdown production. the shutdown directly affecting gasoline prices which have risen in each of the past two trading sessions. the area around the gulf is key for the oil industry, as more than 45% of refining capacity in the u.s. lies along the coast. now, as we bring in our floor show traders phil flynn and tom haze can we put that radar backup and i'm asking for that because you can see , guys it is supposed to hit louisiana sunday , and it will be, according to this radar, a category 3 hurricane. obviously a significant ramp up right there. phil we're seeing oil prices spike, what else are you seeing and how will the markets endure what is about to happen? >> well, you know, we're going to see more shutdowns of production as the oil companies try to get out of the way. crude oil, right now, 58% of the production is down. i would expect that by tomorrow, it could almost be 90% if not totally shutdown in the gulf of mexico. i think when it comes to oil platforms, if you look at the t

high yield did widen out 50 bps.ur general view right now is to maintain a quality up and quality prudent, diversified risk across a spray product, primarily investment-grade products. a place that you will be paid additional spread over time more than your credit losses. certainly not a time to swing to the fences. even though i'm a fixed income guy, to be overweight expertise -- equities. romaine: it has been pretty hard to be a fixed income guy. we know investment-grade offers a lot of potential here. i'm curious as to whether there is any hope left for that high yield straight. it seemed to pay off for a lot of folks this year. >> the big move in high yield is definitely behind us. there is value in a few areas within levered credit. first and foremost would be rising stars. let's not forget last year we saw one of the largest ground grade debt downgrade wins we have seen since the financial crisis. still a lot of companies where we can have meaningful upgrades back to investment-grade. energy, auto, food and bev

in bp i try to hit the ball as far as i can and everyone sees that. i joke around saying i'm going to hit a home run and i almost did. they're kind of giving it back to me right now. >>> what's up with the a's? they're writing a seven game win streak. they're at the rangers tonight. moving pictures on the late show. >>> this young man and his petaluma national little league team, they were good to go in los angeles. regional final and all they had to do was get by torrance. the torrance all-stars. it was scoreless through six innings before torrance erupted for six runs in the seventh inning. petaluma's quest for the little league world series ended today. a 6-0 loss. >>> give me gary payton on the right, lincoln college head coach found time to watch his son, gary, play nba summer league. there is gary, on the warriors roster. we are spotlighting jonathan kuminga here, and that's why. a two-fisted dunk for the seventh overall pick, good enough for a replay. kuminga scored 18 points, does beat the thunder 94-84. >>> joe thornton and his legendary face

why don't you get in border secure and until you do that, i don't want to hear a bp about covid from you. insight and analysis are four top reporters, lisa lerer, national correspondent for the "new york times," katherine wu, staff writer for the "atlantic" covering science, and joining me in studio, leigh ann caldwell, capitol hill correspondent for nbc news and josh dawsey, political enterprise and investigations reporter for "the washington post." katherine, the white house is continuing to urge people to get vaccinated and pointing out that vaccination rates are going up in critical areas. what's the latest on what is working in terms of getting more people vaccinated and what more do we know about how the virus has been evoing? kathy: thank you for that question. it's been really encouraging to see an uptick in vaccinations in the past couple of weeks but it is not nearly enough. i think it really did take a little bit of fear to get people moving and rolling up their sleeves in the past couple of weeks. we've seen the new variant surge immensely especially in places where vacci

chevron, bp, shall, they have all reported impressive numbers over the last few days.co ceo on the earnings call so that they expect the second half of 2021 even better, and this reflects that the industry feels that the worst of the pandemic is behind them. aramco ceo said that they expect global oil demand to touch 99 million barrels of oil per day by the end of this year, and 100 million barrels of oil per day by next year, which is going back to pre— pandemic levels. aramco is planning to increase production because they expect demand to grow bigger from because they expect demand to grow biggerfrom here. they also expect their capital expenditure to touch $35 billion, which is higher than estimated last year. aramco is a unique company because it is owned by the saudi government. that is why the dividend pay—out by aramco is a crucial for the saudi government to fund public expenditure, public expenditure, rather. that is why aramco earnings are not just crucial for the company and the oil industry, but even for saudi arabia. that was sameer hashmi. let's have a l

i want bp gas in the car and then the bp oil spill in my backyard off the coast of pensacola.tom line. don't they have a right if they think sounding woke makes them more money that's kind of their -- even if it frustrates us that's their right as a private company. >> absolutely. a legal right. what i point out in the book is a deeper cultural failure and where the executives push it on to people and sometimes the consumers demand it. i think that's a deeper symptom where i'm a millennial and hungry for a purpose, cause and identity and mixing morality with consumer schism the wrong way. we need to fill it with the ideas of shared patriotism and faith and that's what we need. i would say it's a bunch of virginia slims manufacturers teasing teenage girls in the 1990s. we prey on the moral insecurities. we need something more substantial to fill the vacuum at the center of the nation's soul and identity rather than mixing up with morality with the sandwiches or coffee. that's a cheap way to make a profit and worse off as citizens in the end. >> what can be done as the solution?

black gold — oil giant bp reports second quarter earnings. its bottom line. and in a week with many of the car giants reporting, we look at the outlook for the global auto industry. and, the next frontier — make—up for men. it's a growth sector.

are still bp negative.they taper, they become less negative, but it is still negative real rates. david: your top call as we i guess move into this weekend in a couple months. >> stronger dollar, really. it is not a new thing, but we have been making the case the stronger dollar has a lot to do with china growth concerns, which has a lot to do with the dollar, so i think the next leg of dollar strength going into the end of the year is going to be a combination of monetary policy in the u.s. because of the taper, but also somewhat easier monetary policy in china, which matters for the rmb. broadly stronger dollar across the board is what we are looking at going into year end. yvonne: thank you. don't miss our special coverage of the jackson hole symposium. we will bring you fed chair jay powell's speech. don't want to miss that one. this is bloomberg. ♪ ♪ yvonne: some big movers here during friday's session. every grand, -- ever grand --evergrande, nev. in 18% bounce back, but i don't know if you could real

all the big oil trading there, shell and bp as well.ou see european futures already off by about 9%. that is it for us. european open up next. ♪ so many people are overweight now and asking themselves, "why can't i lose weight?" for most, the reason is insulin resistance, and they don't even know they have it. conventional starvation diets don't address insulin resistance. that's why they don't work. now there's golo. golo helps with insulin resistance, getting rid of sugar cravings, helps control stress and emotional eating and losing weight. go to golo.com and see how golo can change your life. that's golo.com. ♪ francine: good morning and welcome to "bloomberg markets: european open." i'm francine lacqua in london. our cudmore joining us from singapore to take us to the market action. the cash trading's less than one hour away. tilting toward tapering, most see the central bank slowing bond purchases later this year. bullard wants the taper over by the first quarter 2022.

can you talk to us about why did he dump rockefeller in bp and 76? tough decision. ford made principled decisions. but he could also make political decisions. decisions cap political calculus behind them. that was one of them. he wrote himself out, he wished he had stood up to the right wing of the republican party and said no it's going to be ford, rockefeller and you need to accept that. but, he and rockefeller had a meeting in the oval office discussing the obvious problem the polls revealed. that with rockefeller there's a good chance ford is going to lose the primaries. rockefeller said look if you want my resignation comes forward remember the conversation, rockefeller said if you want mine resignation they should you'll have it. and ford said it would be easier if i had it. and so rockefeller bowed out of the tickets. it's interesting that as the convention moved to kansas city a product, reagan's a big stumble was over the vice presidency as well when he selected schweikert. and made that announcement before the convention began. and that was his undoing. >>

question is what are they going to do with the stellar earnings we have seen others in the sector such as bpvron and shell prioritizing buybacks and building dividends for the investors who stuck with the companies through the declines last year, aramco is choosing to take a different tract we asked the ceo about the likelihood of a dividend on the earnings call yesterday. he said that dividend payment is up for review, but no decision has been made. he is optimistic of what oil will look like for the rest of this year and start of 202 >> we continue to recover from the challenges of the pandemic we have demonstrated our resilience and agility in the face of once in a lifetime disruption, we stayed the course and believe our hard work has paid off. >> saudi aramco have the tailwind of higher oil prices and they got the pipeline sale that happened in the second quarter. at the same time, a bond issuance which helped to raise money to cover the cost of that dividend it will be interesting now to focus on what saudi aramco does with the capital management structure. the saudi prince salman sugg

in china, the largest coronavirus outbreak is hampering spending in bp economic holiday. -- spendingn an holiday. the delta variant has been to almost half of china's provinces. the cdc has extended a ban on evictions in u.s. with high spread of the delta virus delta variant. -- delta variant. president biden once the new band will face legal challenges and may be found unconstitutional. the british navy says the hijacking of a ship off of iran has ended. unidentified people were said to have boarded a ship. they left today. it took place after a possible drone strikem an -- of innate is really operated ship. iran was probably behind the attack. global news 24 hours a day on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. this is bloomberg. ♪ >> of course i made it clear that the existing moratorium was not constitutional. it would not stand. in the meantime, what i have been pushing for, we have billions of dollars given to states to provide for rent and utilities for those people who cannot afford to stay in their home.

it's not as easy as going to bp and tapping into your phone on the tap.there a better way to do that with allego? mathieu: that is a good point, it's complex. because we have different chargers. we need to be able to charge any car. and you can charge any car from any brand at our stations. for paying, we have our apps. but we need to work with credit cards as well, and offer different payments, because customers have different ways to pay. and we need to follow through with that. the technology is key, and that is why we have our own preparatory technology -- own technology for payments. matt: thank you. that is mathieu bonnet, ceo of allego. which has recently gone public with the apollo affiliated spac, spartan three. coming up, the return of business travel. think of america is betting on its come back -- bank of america is betting on its come back with a commercial card. we'll talk about business cards and traveling with them. this is bloomberg. ♪ matt: this is "bloomberg markets." bank of america is betting on a return to business travel, unveiling

in that sense, we think perhaps bp growth, potential amplitude for growth, may be a bit lower.at sense, it is a longer cycle. rather than burning hot, we think that is a more steamy and longer cycle. that helps us position more long in the consumer service stream and take advantage of the cash and the willingness to spend that cash, for example. alix: anna han of wells fargo, equity security strategist. let's get to private equity. joining us now, ashley evans, carlisle managing director in technology media and telecom group. ashley, if anything, parts of the prior market are even more expensive. how do you find value in the tech space right now? >> thanks so much for having me here. i think private equities are really a micro business. we're looking at the fundamental dynamics of a given company and sector to understand the value they are delivering to their customers, to their customers' customers at the end of the day. we are falling -- we are finding lots of investment opportunities consistently through the pandemic. what we love and are looking for is how ours -- helping c

matt: you founded national security institute, but you are also bp for strategy and iron at cybersecurityat can you do? jamil: iron that is trying to bring together various companies and industries and the energy sector, health care and frankly abroad, our allies in asia and the middle east and europe to come together and create this collective defense give ability with a system we call iron dome and we bring together these keep abilities and so part of this is really looking at how companies can work together and you need to get ability to do that. matt: thanks so much for joining us. jamil jaffer, founder of the national security institute. he is also a vp for strategy partnerships and corporative element at iron net cybersecurity. still ahead, wall street executives have a lot on their plate today, reaching out to revive talks with beijing, to open up its financial system. we will discuss that with andy brown, bloomberg's new economy editorial director. this is bloomberg. ♪ matt: this is bloomberg markets. i'm matt miller. let's turn to our segment on the new economy where we examine h

starting with energy i know that is close to your heart, brian bp shares up 3.5% points they will increase dividend by 4% and scale up buybacks after a profit of $2.8 billion in the second quarter another stock we are looking at stalantis raised target after the beat on the first half earnings now expects a 2021operating profit margin on 10% another positive price action in that stock finally to the banking space raised died guidance after the i recover to 1.4 billion euro from a loss of 1.3 billion due to the impact of bad loan provisions. this is one of the best performing stocks and a leader in the cac and french. brian, back to you >> a big move for one of the biggest french banks you so soc gen joumanna bercetche, thank you. >>> the hits keep on coming out of china this time it is the country's state media lashing out at the video game companies likening it to addictive drug for kids stocks at the center of the crackdown like tencent and netease and more eunice yoon has more from beijing. eunice, what is the government saying and doing around video games? >> reporter: so far, the gove

bp of 2.81. the energy sector doing well on both sides of the atlantic.s idiosyncratic news. this is not the kind of big picture top-down stuff. we've been talking about what is happening the u.k. grocery sector consolidation. the buyout story has been quite a strong narrative and kicked off and then went to the buyout with asda and then got to morrison. the u.k. paper talking about the idea apollo maybe would be interested. a very different story from the narrative surrounding morrison. that stop rocketing today, up 15%. alix: let's get more today. bloomberg consumer reporter deirdre hipwell joins us. bloomberg also reporting apollo is not interested in sainsbury. is sainsbury in play? deirdre: you can say the whole sector is in play. we had apollo settling -- we had apollo selling asda -- in a bidding war with clayton. it is no surprise apollo is being linked. our sources say this is not a live discussion and they are focused on potentially joining forces in the bid for morrison. if that is what happens -- certainly the whole sector is in play. guy: we

>> i've bp working to get people out. i rarely get out maybe to pick up water or use the bathroom.mething. one thing i noticed, i think one of the first to arrive and then today the camp was packed. >> who are they? what nationality? >> contractors. some afghans coming. >> it was actually happening on the streets of kabul. >> what part is making you most angry? >> it's just getting my angry. there's a gentleman at the kabul airport who came to pick me up. i asked how long have you been here. yes we have. i think once or twice and i asked him how he felt about it and his answer. i'm not going to repeat what he says because it's not appropriate but he was very excited d that he was leaving. that i find wrong. they haven't stepped on the afghan soil. they never connected to people so how can they make any judgment of how afghanistan is or how excited they are to be leaving afghanistan. >> when you saw what was happening, when you knew the u.s. soldiers were going to be withdrawing this month. how did you think it would unfold? s >> i didn't expect the time line to be like there. i exp

bunker— vicinity of the hotel which is a bp bunker structure and as far as i know— bunker structureult of that. there — casualties as a result of that. there may have been afghan casualties and i'm sure there were but it— casualties and i'm sure there were but it will— casualties and i'm sure there were but it will take us a bit of time to actually— but it will take us a bit of time to actually learn how many afghans and we took _ actually learn how many afghans and we took some of them on board the installation — we took some of them on board the installation and many of them were taken _ installation and many of them were taken to— installation and many of them were taken to hospitals itself that's what — taken to hospitals itself that's what i — taken to hospitals itself that's what i get on open—source but we are trying _ what i get on open—source but we are trying to— what i get on open—source but we are trying to gather more information. the last— trying to gather more information. the last point is i don't know the size of— the last point is i don't know the size of the — the

bp is a bright spot. it is raising its dividend by 4%.hat is giving a boost to shares this morning. however, conocophillips did not announce any further buybacks. that is hitting shares a little bit. eli lilly missed on profit, but shares are holding up. i can't say the same for clorox. it still missed estimates, and the company warned about the guidance going forward as that pandemic boom fades, down 11% this moaning. alix: thank you very -- this morning. alix: thank you very much. coming up, we are going to delve deeper into earnings. chip demand for carmakers is huge. we will talk to the ceo of a major chip supplier for the auto industry. this is bloomberg. ♪ >> global semiconductor shortage has been impacting us. >> it has been quite a whipsaw for us in the industry. >> we are managing it week to week, day-to-day. >> the chip shortage will probably continue throughout 2022. there will be maybe some fluctuations in visibility. >> we are continually monitoring the situation and how we can anticipate the supply situation. >> it is out of

qunol's ultra purified omega-3, is sourced only from wild caught ocean fish, not farm raised and comes in bper: of the january 6th commission will not answer any basic questions about what happened that day and why. who shot ashley babbitt, how many fbi informants were in the crowd, what they are holding from us. we are not going to find out any of that, shut up and obey. but what they are going to find out is subpoenaed the phone records of sitting members of congress. it doesn't matter. adam schiff, natural authoritarian if there ever was one, is fully on board with this. speak of the committee chair confirming to cnn that he wants telecom companies to preserve phone records of several people including members of congress. kevin mccarthy, jim jordan spoke with trump on january 6th. whose records do you want to see? >> i'm going to leave it as you might imagine to the chairman to make this disclosure is public in a formal announcement but i can tell you this, we intend to be very thorough. we want to know exactly what took place before january 6th that led to that tragic day. >> tucker: jim

so will the bp give gavin a much-needed boost or will she act as an anvil?llowed politics. it's often times become a national politics. as it is a good idea for the vice president in which one is hurting the other more? >> it seems like democrats are sending harris were hordes of people are trying to get out. she is going to end up breaking out that wonderful cackle which led to her dropping out of iowa before a single presidential vote was casted. i don't know if elder is going to pull this out pretty certainly make it close enough for them to make him nervous or if they're bringing in harris and pelosi's coming in fresh offer auction scene and get out in napa, they are bringing in harris or pelosi he is certainly making them nervous enough to make this close. they could be looking at another schwarzenegger situation or. he was a horrible governor. i wish tom mcclintock had one the pouring star is exciting caitlyn jenner is running. anything can happen in california. i actually do not believe the polls say it's as close as it is. i think a lot of the democr

aside from a handful of tweets, that bp has largely been mia since the taliban took over most of afghanistanan integral part of the president's decision making team when it came to ending the war, remember this? >> president biden always said he wanted to be the last person in that room, particularly for big decisions just as he was for president obama he just made a really big decision, afghanistan. where the last person in the room? >> yes. >> you feel comfortable? >> i do. guy: she doesn't might not a suppression on keep your head out of this one. she's prime focus like a laser on the southern border. the why is the first female vp has she been silent on the horrific situation for women and girls in particular in afghanistan question what the panel is bite, jane biden has already handed her this a political football of the southern border. i wonder if she sorta keeping her mouth shut here because she does not want him to get the idea to give her into her portfolio the evacuation from kabul airports. that would sort of be a bye didn't move. >> on some level have always expected this is as

sizable moves for bp, clorox, under armour, many more results coming for you after the bell.oncerns are weighing on the travel sector. hotels, cruises, ride sharing names, all mostly lower. w

some might say we will sweep that aside, but if you talk to bp, i've asked, carbon offsetting, plantings like, i can't do anything else yet. we will eventually transition to other assets, but in the meantime, i have to plant the trees if i'm going to meet the goals. there is no other option. what do you do if they are burning down? guy: it's a problem the airlines are facing as well because you haven't been able to scale at this point sustainable aviation fuel. it is a feedstock issue, i policy issue, a technology issue. so we are not there yet. ultimately that may be the direction of travel, but even that is may be a temporary solution. it is a huge problem in terms of figuring this out. the european close is next. goldman sachs significant upgrading its forecast. this is bloomberg. ♪ in business, it's never just another day. it's the big sale, or the big presentation. the day where everything goes right. or the one where nothing does. with comcast business you get the network that can deliver gig speeds to the most businesses and advanced cybersecurity to protect every device on it— a

per chevron and bp and exxon, it should be ida -- they are the ones who caused this mess.diculous. it is time for us to get serious about this climate crisis. the times of playing games with politics, either democrat or republican, the time for playing games with this climate crisis is over. it is time to put humanity first. a cli theirars. homwith no electricity suffering in need. people still maiaining the archaic views of the fossil fuel industry? that has got to stop now. juan: is it your fear similar to what happened after hurricane katrina that the crisis wa used to implement anti-people policies, for instance, the elimination virtually of all public schools in new orleans that this crisis will be used in the segway way by those in power? >> most definitely. after katrina, we knew the fossil fuel industry started to create the climate denial platform most of they moved beyond that now as well as the policies and communities who live to destroy those community's. literally rolling back from public housing, rolling back -- closing down charity hospitals. every aspect t

but also, says san jose state's bp for student life, some special challenges. >> if you've been virtualou develop community and develop connections? that's one of the things really, helping them learn how to do that. >> grab yourself a water bottle. >> reporter: so they're opening up traditional freshmen activities to sophomores and pairing them with mentors for support. >> welcome to campus let us know if you have any questions. >> reporter: still daunt ing, says sophomore matthew gonzalez. >> i'm so scared just like the basic living things that you take for granted at home when your parents do things for you, you have to do it for yourself here. >> reporter: all at a time when college students are more stressed than ever one in three reporting a mental health issue last year schools can't afford not to pay attention. >> it's going to impact them from an enrollment perfspective which has a downstream impact on financials, which has a downstream impact on the community. >> there may be a silver lining. these students are perhaps betterversed than anyone now a working remotely, which is

per chevron and bp and exxon, it should be ida -- they are the ones who caused this mess.diculous. it is time for us to get serious about this climate crisis. the times of playing games with politics, either democrat or republican, the time for playing games with this climate crisis is over. it is time to put humanity first. juan: reverend, what do you say to those folks in louisiana who say the state depends on the fossil fuel industry, on oil and gas for so many jobs and so much income? >> hogwash hogwash. it is like beast think i'm dependent on something that is going to kill me. listen. the fossil fuel industry business plan needs a death sentence for us. it is ridiculous. how are we going to keep setting we depend on them but we don't have any power? we are running for our lives. that is madness. listen. it is time for us to transition from fossil fuel to clean energy. there a number of groups -- i brotherarlier said it, a number of us on the ground are trying to do all we can do b it is clear black people and poor people and indigenous people are left behind to die.

from the heavily debt laden occidental to the slimmed down bp to the well run chevron and in the end,e top. and everybody turns positive, it means there's no one left to buy. remember, when oil got to its higher levels in july, we highlighted carly garner's excellent work showing that oil was close to a peak how did she know first, she looked at the data from the commodity futures trading commission that showed many managers had taken a huge net long position in the oil futures. a big on bet that oil would go higher the kind of net long position you tend to see when oil is about to roll over at the same time, she pointed out we're seeing something called backwardation, where the furthest out futures contracts were much lower than the closest futures ks contracts. then she looked at the calendar and noted the crude is historically tended to peak in july before going downhill in august nice call. why was this so predictable? because all of these technical issues gave us some tremendous insight into the supply and demand, and when you're dealing with a commodity, supply and demand is eve

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but by the same token, take a look at big oil from chevron to exxonmobil to bp.pandemic reopening is pumping up demand and, hence, gas lean prices -- gasoline prices at rest stops. to man at the center of both of these stories, travel america ceoing us in a fox business exclusive -- ceo joins us. you run a really large network of truck stops. >> hi, liz, thanks for having me. yeah, couldn't be more excited, actually. you know, we're in the middle, we're a 49-year-old great american company, and we're facing our 50th anniversary next year. we're in the middle of a major transformation that's starting to take hold. our net item was up -- income was up 176% this year despite covid is. and early this year as part of that transformation, we announced the creation of eta which is actually focused on rolling out alternative and sustainable energy infrastructure from ev for passenger duty vehicles and over time. a little more slowly. it's going to take more time to figure out what sources of energy for the heavy duty stuff, but we're starting to create collaborative effo

and bp several million in hydrogen projects. right now 359 large scale hydrogen projects planned around the world. that's up more than 50% since last year according to the dren cnchyogouil that's your esg fast fact of the day. >> announcer: esg fast fact a sponsored by morgan stanley. thos offers investors a broader view. ♪♪ we see companies protecting the bottom line by putting people first. we see a bright future, still hungry for the ingenuity of those ready for the next challenge. today, we are translating decades of experience into strategies for the road ahead. we are morgan stanley. esg is responsible investing. who's responsible for building esg into your investments? at pgim, the pursuit is on for outperformance. as active investors, to outdeliver with customized strategies, integrating esg best practices into our investment decisions. as asset managers and fiduciaries, to outserve, with our commitment to better esg outcomes. join the pursuit of outperformance at pgim. the investment management business of prudential. ♪

and the organizations smuggle money and guns out of the united states to exploit c bp's minimal outbound screening. mr. secretary, what is the department doing to increase capabilities? are there additional resources that can stop drug trafficking and organizations from smuggling drugs into the u.s.? >> senator, this is a very, very important question. i respectfully will request an opportunity to answer it. the scourge of drugs in the united states has been a problem for many, many years. in fact, in 2020, that year, last year, saw a 30% increase in fentanyl overdoses in 2019. we're very very focused on this, not only are we continuing to invest in technology at our border and border modernization because interestingly and importantly the narco traffickers seek to move the greatest amounts of drugs through the ports of entry and that's where our apprehension efforts are focused, as well as in between the ports of entry and by air and by sea. and we are investing in technologies and we are developing strategies, investigative and prosecution strategies to attack the narco traffickers. op