i lost, they say i'm bound by chevron. it was a scandal to the judicial mind that a written law could mean 180-degree difference. and, in fact, even at the supreme court hearing, clarence thomas wrote the brand x season. it's dead as a door nail, like marley, i think. but the fact, is you could switch back and forth, just because the agency changed its mind with no one coming to congress. so how is a veteran able to say what the law means to him? how is he able to come to this committee and say we need this change? he can't. so it breaks the tie between the constituent and congress, and it also -- i agree with the fact that now the agencies, including the veteran administration, are not going to be changing things as much because they've got a rule that's been sanctioned already, even under chevron. they're probably good to go. that interpretation can last. but i think for veterans and congress, you don't want them to not know what your law means because the administration can change it to mean exactly the opposite of what

>> well, because i traveled to ecuador in 2008 and i saw firsthand the mess that chevron left behind.shamed, quite frankly, that this was a u.s. corporation that committed this terrible human rights crime because it is a human rights crime, and they have done nothing to try to remedy it. so, you know, i followed donziger's, you know, attempt to win a judgment on behalf of the people of ecuador, he won, and then i was shocked at the retribution that followed from chevron. rather than respecting the judgment, rather than investing in cleanup and helping these poor people in ecuador, chevron went after steven donziger in an unprecedented way and i think it was a terrible injustice. look, this is like the -- this is like a david and goliath story and chevron, you know, used its corporate wealth and its legal connections to target steven donziger and to ignore the contamination it left behind in ecuador. >> let's talk about how they actually targeted donziger. it's somewhat unusual. as you know the pardon power is only available to deal with criminal matters, federal criminal matters. here

i'm here to respectfully ask you to vote no with the agreement with chevron. passage of ordinance requires our city to do two things relevant to the settlement decision. one is to end san francisco's involvement in the oil extraction, settlement would be counter to this mandate. second, and most importantly the ordinance required a clear public process including the production of adjust production plan. we understand covid delayed this process, that does not nullify the requirement for san francisco to xloet this process. we request that you deny the settlement so we can under go transition plan. we are here to commit to be your full partners can offer our experience and capacity as organizations and union to see present alternatives for organization including proposals design and finding a workforce development program. so this would create hybrid jobs and ensure justice and seek exacerbation in the process. we ask you to vote today to give you time and the public process that we are due, thank you. >> thank you for your comments. next speaker, please. >> hi

loper bright which chevron overturned. how critical do you think these are and properly timed do you think these cases were for what is coming next? j.w.: this is the unique horseshoe theory. there is some of that in administrative law. the earliest and strongest supporter of chevron deference on the supreme court was justice scalia. we don't like to talk about it much but it is true. enhancing the definition of what constitutes banking services so banks can provide. you want to do it armored car service, that is a business of banking. it is like exemptive relief. giving some deference to agency's doing stuff like that, epa under the reagan administration. but it took over a life of its own and the supreme court just watches a graph. neil gorsuch had this in his book. the graphs and growth of the code of federal regulations and it is one of this exponential charts. it is like viral expedition log -- logarithmic growth. at one point they say enough. and then loper bright comes along. some of my friends that lean progressive

so, let's check on chevron. chevron, $435 million, month of august. [ inaudible ] $165 million. morel, france, $196 million in profit. i represent the city of miami. we are pro-capitalism. we are pro-free market economy. i am very much pro-energy sector making a lot of money. but, there are lines you do not cross. when profiting from other people's misery. since the day of the election, 2500 venezuelans have been thrown in jail and a whole bunch more have been killed. anyone who opposes maduro faces a so-called re-education plan, to which in reality are concentration camps. in other words, if venezuelan jails are cramped to unprecedented levels, so our the maduro, courtesy of american and european companies. once again, shame on you. chevron, rex oil, annie, and morel, a lot is on your hands and it will be on yours, the biden administration, and on us, the united states congress, if we do not act today. we are the united states, regardless of the party, we are the beacon of hope, we are the land of liberty, we are the moral leaders of the world, we are the beacon of democracy, s

why did you renew the oil licenses for chevron? why? >> so administration over sanctions policy is something that we do as part of our overall diplomatic strategy in venezuela. and we continue to review that policy, trying to choose targeted actions that will best contribute to our overall efforts to create conditions for the venezuelans speech i understand but you sponsored the barbados accord. and the accords said that we were going to lift sanctions, being the state abrupt, the united states of america was going to lift sanctions if maduro plays by the rules that he signed an barbados. maduro is just as we did not play by one of the rules. so then why did you give the ability for them to continue making money? >> so i think you know, chairwoman, that about a week ago we announced individual sanctions to hold accountable some of the key officials that were involved with the electoral manipulation that we are talking about as well as some of the brutal repression that we detailed in our testimony. that was a way in which we are beginni

chevron name for the oil company. so this is an important supreme court case in the 1980s where the supreme court of that time, a conservative republican majority, said when an administrative agency does something, the court should show a lot of deference to that agency. and that is it looks like it's about to be overturned. and the courts are going to give a lot deference to the administrative agencies. now, i personally would very much like to believe that there is more to the story than in the eighties. republicans said it to win the presidency and be weak in the courts. and in the 2020, some republicans had to lose presidency and be strong in the courts. i would like to believe there's more to it than that, but i do not, in fact believe there's more to it than that so. so i think but i think they're going to it's going to be like striking down roe versus they're going to strike down chevron. and then everyone is saying, my god, what did we just do and the question i would invite anyone who's on the republican side

so let me just pick on chevron.least west texas intermediate oil, it hasn't made the move i think many anticipated. a lot of geopolitical shocks have happened and just hasn't moved the needle. china had stimulus packages. what's going to move the needle for oil? >> massive mistake to think chevron should be linked to the price of oil. they make more money at 70 than 90 and 90 you get demand erosion. 70 is -- charles: sweet spot. no pun intended. >> yeah. the permian basin is making tons of money at 70 and tons of consumption. 90 you erode demand so these big oil companies and chevron did it with hess, that deal closes next year, and nobel in the middle of covid. they bought competition. they bought market share on the cheap and those things come back to benefit the way exxon did with mobile. these are major m&a players. chevron right now the price is down more than exxon is up on the year, chevron to me is just a good value with a 4.5% yield. it's still up huge, but lots of growth in front. you'll be paying 11 times

so this is a, the chevron. well, that was plugged in 2010. the chevron we've, we've escalated it run out about a month ago. so what you see here's the remnants of, of the well that supposed to be plug is you can see there's crude oil leaking outside of it. it's a google blood cruise. it's got, it's got gas, it, it, we tend to do the oil. it's also going to produce water in it. 2 years ago we started digging it well. in the 1st 7 we dug up, we're leaking, they were like this, all of them. the 1st 7 that we did. wow. so soon we dug up on this ranch a 100 and i would say $95.00 of them are leaking. and the other 5, i'm not for certain that they're not there 8375. unplugged wells on the official texas list and an estimated 783000 inactive wells in the state. that doesn't include improperly plugged wells like this one. properly closing them is going to be expensive. so you're looking at several and having to pay half a $1000000.00 to a $1000000.00 for every well like this for every well sure. there are state and federal cleanup programs, but they

court has overturned chevron. i agree. let's get past that. what does a the wall flats in gainesville, georgia? i go into the wall flats and say the chevron doctrine is causing your business problems. joann, tg know that? it's tough. she don't care and to tell your visit is going to be good. i'm a republican, vote for me. easy vote. she's look at me like chevron, wait? i just talked of the gulf station. what's wrong with chevron? we don't understand it anymore. we have to make sure understands republicans and i think conservatives are speaking languages people understand. so what about i do would be to go in and say the trump administration has cut regulation, has made it better,, though think we can now do is businesses operate more efficiently. if the regulars were out of the problem. let them operate the way they should save the economical and do the things businesses do. i have never met a business that want to hurt their employees. i've never had a business similar to wanted to hurt their bottom line. if they

chevron deference decision said no we'll not defer to government regulators, epa versus west virginia, said no, you cannot set emissions control that was never written to a law. you you be proud. >> i am -- yes. larry: hold the flag high. >> boost him back high. >> you didn't help but you done hurt. larry: you have potential to rise. >> poor jason. >> i like this. larry: i havi -- vivek, a smart guy, he wants to use the supreme court decisions to remove the authority of this regulatory bureaucracy super state central planning, that is wrecked the american economy and culture for 75 years. >> we dealt with this in house judiciary committee and got rid of it in trump administration biden brought it back first day, it is a scheme eregulatory gd goes to someone they would regulate saying we could take you to court and you have file on your 10k and make a decision as a public company you have to disclose you are under investigation or you can enter in a settlement treatment and pay 50 million, and we have a list of nongovernment organizations, these democratic organization you can make a d

>>> the worst week since 2020 per chevron makes cuts to spending plans and we are live with the reagan national defense form. i am melissa lee on the desk tonight. steve, and rebecca patterson. welcome, rebecca. >>> new records for the nasdaq with a major momentum. amazon surging 3% today and meadow with more than 1% with both stocks and apple hitting all-time highs during the session. the iphone maker in the red and it wasn't just big games today, but the so-called have added a combined $872 billion in market cap just this week. >>> new ruling from an appeals court could be a catalyst for more gains. julie has more details. >> that's right. moved higher today after a federal appeals court upheld the january 19th ban on to talk if does not divest its ownership by then. 19 shares of by 2.5% to an all time high and those tech giants are seen as beneficiaries of any band potentially gaining tiktok consumers, advertisers. the impact on competitors saying , tiktok millions of users will need to find alternative media of communication. >>> wells fargo taking this news and predicted that tikt

chevron, which makes miracles with oil, but also searches for alternative energies. and of course, the may foundation that have been staunch supporters of ours for decades. let's hear a round of applause for them. i'd also like to thank the felix family foundation, mark and nancy penn, the pratt charities, and dan and ariane sacks, harry adm and family, one who wish to remain anonymous and asked me not to say their name, yitz and hilda applebaum, jonathan and laura barron, the daroff family, zev and sd drien, the epstein family, honey herzo family, bill knapp and jeannie milbauer, thor equities, verizon's, who only asked me to say that they love it when people connect, so look at this, seth and rifko weisberg, the weisberg family foundation, and all of you who went to our site of national menorah.org or to jewishwashington.com and contributed. and if you didn't yet, it's not too late. i'm going to say that we're about to let the menorah as you can tell the lift is in place we want to thank our three cantors who came to be here with us, canta yitzhak, mayor helgat of

energy giant chevron says it will cut capital spending next year and dial back its u.s.t defiance of trump's drill, y, drill pledge this will be the first operational draw down for chevron since the pandemic oil crash. >>> and elon musk's xai has raised $6 billion in few funding valuing the ai startup at $40 billion. in may, they valued the company at just $24 billion, frank >> thank you very much. >>> moving onto this morning's top market story, and the upcoming november u.s. jobs report they expect added 214,000 compared to just 12,000 from october, though labor strikes and weather, they were largely to blame for what was the worst jobs report since december of 2020 the unemployment rate expected to tick up to 4.2%, and today's report will be the last economic data point before the fed's final rate decision of the year coming in in about two weeks on december 18th. joining me is julia pollack. great to have you here >> good morning, frank. >> the estimate is 214,000, but you have a different forecast. what is your forecast and why? >> well, let me unpack that number fo

the next morning, supreme court case is started coming in the chevron deference, which is going to help economy. that's a big win. yes. and and you have and then you have these other court cases that have been a win win, win win win for the president. and then, of course this this a mm. away from a complete change in history on saturday night and then that i think you know created an image which is real president trump's first response when you know when got up was was the courage, the resilience the spirit the fight and that picture which will now, you know, be in children's school books 100 years from now of him with his fist up, with the flag flying over his head. that contrast versus joe biden. i mean, again if you're an independent or you're a democrat, you look at that and you say, wow, we have to worry. different things going on. and in a world where we're in a we're in a proxy war with iran we're in a proxy war with russia. we're in a cold with china. president trump is actually a deterrent himself. i mean, he's people look at president trump and they like if we do something, he

i'd say former chief of staff to george in president edward chevron. not say many things or i for all the latest mid week updates visitors to r t dot com has you covered will ensure you don't miss the updates that mother, goodbye.

chevron which makes miracles with oil. but also searches for alternative energies. and of course the maverick foundation that have been staunch supporters for decades. let's hear around of applause for them. i would also like to thank the -- family foundation. pratt charities. one who wished to remain anonymous and asked me not to say their name. appelbaum. the epstein family. floor equities. verizon who only asked me to say that they love it when people connect. the weisberg family foundation and all of you who went to our site of national menorah.org or to jewish washington.com and contributed and if you didn't yet, it's not too late. i'm going to say we are about to light the menorah. as you can tell the lift is in place. we want to thank our three cantors who came to be here with us. they will lead us in the blessings and i please ask that you rise for the blessings and stamp place afterwards until the singing is over. and at that time we will conclude the program. thank you very much. please rise. ♪ [singing] ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ [applause] announcer: next week

because chevron is responsible for the most idle, uncapped wells in california, making this transfer would be counterproductive to the city's climate goals and ongoing lawsuits against oil companies for their environmental impact. san francisco has an opportunity to really lead a worker centered oil well, tapping project jobs with justice san francisco has partnered with the united steelworkers union for over four years on groundbreaking programs to support oil and gas workers amidst industry shifts, including securing a $40 million for a statewide pilot project to provide safety nets for displaced oil and gas workers with at least 35,000 idle wells across california needing tapping, there is a significant opportunity to create good union jobs in the oil well capping for local community members and oilfield workers. united steelworkers represents oil and well drilling and capping workers in kern county and across california. they are interested in exploring the possibility of running an oil well capping training project on this land. in partnership with the city funding opportunities

nike and chevron at the top.ry quiet but certainly none of the sellout that we saw in the last couple of sessions. by the way, do not go anywhere. we are going to take a look back at barney and companies best moments from 2024. ♪ lock in let's go. rated e for everyone. [rock and roll music playing] xfinity. made for gaming. rewards members, get early access to an ea sports fc25 kit. visit xfinity.com/rewards. ♪ a little bit to fire things up on this new year's eve. that means it is the perfect time to take another look back at some of our favorite moments from this year right here on barney and company. watch. >> barney and company is about to begin. >> 4.8 earthquake just rattled through greater new york and new jersey area. lauren and i were sitting here with the four-star general. the side of the studio started to rattle. it wakes you up. >> it is like having a tiger as a pet. i did not take your advice. >> they cross the milestone. now at 102 starting a new era. the cost of blowing money is going down. up aga

the chevron deference. what does that mean all right, john, we know you've always wanted to go to law school. >> so here we go. >> one of the first things they used to teach in law school back when i went was this thing called chevron deference. >> and that goes back to a 1984 supreme court decision which said essentially that the courts have to defer to agencies, whether it's the the epa or the fda or the cdc generally speaking, it was hard for courts to strike down those regulations however, this past summer, in 2024, while everyone was paying attention to the presidential immunity case a few days within that, we got a different decision that reversed chevron deference and what that case involved was a regulation passed by the national marine fisheries service that said that when herring fishermen go out on their boats and fish for herring, they have to have a monitor a human being on their boats making sure they're complying with regulations and those herring fishermen have to pay the monitor. >> so this

writing about what should happen in the next administration and that is the loss of what is called chevron deference, which could affect the way in which agencies can make pronouncements and may affect the mood in the community of people who might be recruited to work in those agencies. and what is called schedule f, which would change the protections of civil servants had from being summarily fired. what is the mood at the moment about, with respect to these potential changes and the way we practice? federal administration? dr. cohen: the folks who work at the cdc are career experts, scientists. they have been through transitions before. we are focused on our mission and what i said to them wednesday after election day is, an election has happened but our mission has not changed. there is a difference between campaigning and governing, and our teams have been through that before. let's not anticipate a problem. we don't know what's coming in the future and focus on our mission. the best way to defend the work is to be on offense, meaning do good work. we have made a lot of changes and i'm

look at the dow winners, caterpillar, chevron, boeing, verizon and amazon.com. headed up by inter interpublic, the warner bros. and supermicro. they were on the list, the nasdaq composite, do we have big tech, pdd, workday, warner bros., mongo and walgreen boots alliance. the ten-year treasury up a little bit this morning, you stopped a relatively low level 4.17%, the price of gold strong this morning up 2692, the price of bitcoin right now 99100, oil 68, $69 a barrel, 16-point to three right now. nat gas, 317 hardly changed. the average price for a gallon of regular all the way down to $3.1 per gallon. most of them paying $3. california $4.36 per gallon. coming up trump has a solution for families mixed immigration status. deport them together. >> i don't want to be breaking up families, the only way you don't break up the families, you keep them together and you have to send them all back. stuart: some will see that as harsh, well as portable truck counsel chris cabrera about that. democrat senator ab klobuchar went after biden for pardoning biden, she's calli

at the big board in the dow off out of the opening shoot 432-point down 1% everyone of the dow 30 chevronnd merck leading the way down let's take a look at s&p. still up 25% for the year and now it's 24% great gains for the year right now 1.1% on the nasdaq, down a third of the present but as for the year the nasdaq is up 31.4%, still up 30% for the year not bad at all let's take a look at the big tech names no big surprise there all in the red profit-taking across-the-board, apple, microsoft, meta, amazon all over the biggest losers amazon down one and three quarters percent. let's take a look at the stocks, speaking of tesla major discounts on some models to close out the year. which ones and how much. >> between $485,300 on some model y and s. you get the discount and the incentive like three months free full self driving and supercharging. the stock is down for the third day in a row. investors are eagerly awaiting thursday fourth-quarter delivery numbers. look for a number north of 500,000, tesla says 515,000, the issue might be if you look all 2024 they might deliver 1.8 million veh

but if we're all focused on exxonmobil and all focused on chevron, cheniere could be the dark horse,re they really pump the heck out of it. >> good setups, carter, in your mind, in this energy trade overall? >> yeah, it's such a curious thing here, too, a sector that's very concentrated, almost 40% in two stocks, exxon and chevron, and yet the whole sector is only 3% of the s&p. so, one could say, wait a minute, two stocks, basically 40% of an entire sector, yet the whole sector is only 3%. one could say, why bother? there's a case to be made, for those who are benchmarked against the s&p, that's a game of chess to say, leave the whole thing aside. or just own the big one and you get a decent dividend yield which is virtually guaranteed. i would buy the dip in lng and i would buy this recent aggressive selloff in exxon. >> all right, there's the trade for energy. >>> coming up on the show, mortgage rates may be up for a bumpy ride in 2025. what that might mean for those invested in the housing trade. that's coming up after this. >>> missed a moment of fast? tch us any time on the go.

. >> what does the contracting community need to know about what impact the post chevron deference rulingis going to have on them, or i should say us, and what should we expect to see in terms of staffing on capitol hill versus the links of getting regulation out of the executive branch? >> the chevron deference ruling by the supreme court about four decades ago in my early time in washington -- >> we will lead this year with a quick reminder you can watch all of our programs online. ..

. >> a gigantic chevron floating production unit smack in the middle of the gulf of mexico. i am coming to you from chiefs' kingdom. >> to speak to executives and leaders across wall street and beyond from retail to health care, technology and more. bringing investors the story that matter to this market. "mad money" looks back at the biggest conversations of the year. starting now. >> hey, i'm cramer. welcome to a special year-end wrap up edition of "mad money" as we head to our 20th year of "mad money" we wanted to look back at 2024 and reminisce on the amazing places we visited and the people we got to speak to. even fantastic moments right here at the stock exchange. we can't pick a favorite moment but getting a robot to make me drink at the nvidia conference might be up there. we start with a trip we took way down south. >> mike, we are on anchor. to me it seems like an engineering marvel, technological model. how do you get it done? >> it takes time. we started 40 years ago. 10 years ago we made a discovery with a well from a drill ship. five years ago we made a final

the fed was already moving in ways to appease this group, but the fed acknowledges after the chevron decision, regulatory agencies might have to have a lighter touch, which makes me very bullish. if we see less issues with stress tests and less issues with your balance sheet has to be exactly this, banks can lend more and make more monkey. some of this was a little bit the fed still wanted -- they still wanted it on the books, so they have this lawsuit ready to go. >> vickie green, thank you. great to see you. >>> time to turn to retail and the consumer, of course, christmas is tomorrow. visa showing holiday retail spending increased almost 5%, despite a shorter shopping window between thanksgiving and class this year. but the outlook with consumer confidence dropping and tariffs cited as one of the reasons why. that's why my next guest is watching this. for more impact and the names best positioned, let's bring in dana tel si. >> happy holidays. >> we talk about the retail sectors. are tariffs just bad for retail overall, or will some companies benefit? >> some of the companies make

you are like chevron what's wrong with chevron. we don't understand anymore gotta make sure republicans are conservatives are speaking languages to the people understand. so what a better idea would be to say does the trump administration cut regulation has made it better the only thing that we could do is businesses operate more efficiently. i've never met a business in my life that actually wanted to i never had a business in my life i didn't want the bottom line. why don't we go into the same agenda and say do you know why we talk about deregulation. because last week i talked to others as donor grange and. so that i didn't have to go through another step. susie has a job now because of what you've done. it's time we start taking the message that we all know and applying it in such a way that people can understand. that is called navigating. i miss desperately the love of my life. [inaudible] if you ever disconnect where your friend come here. they don't spend olon capitol hill anymore. we need congress who says instead of worry

. >> what does the contracting community need to know about what impact the post chevron deference ruling is going to have on them, or i should say us, and what should we expect to see in terms of staffing on capitol hill versus the links of getting regulation out of the executive branch? >> the chevron deference ruling by the supreme court about four decades ago in my early time in washington -- >> we will lead this year with a quick reminder you can watch all of our programs online. .. >> 10 minutes after every panel for questions. now, various speakers here today may refer to this legislation as foia or foia, and each state in the country has its own version to government held information statute. these freeedom of information act laws are used by many, and indeed the number one user of these laws are businesses. some of you may have already heard about this legislation or used it or various state versions to learn what our government is doing on a variety of matters of public or even personal concerns. the legislation does not provide access to all of the federal government as it does

>> what does the contracting community need to know about what impact the post-chevron deference rulingill have on them, on us, and what should we expect to see in terms of staffing on capitol hill versus the links of getting regulations out of the executive branch? david: the chevron deference ruling by the supreme court 40 years ago concluded that when congress passes a law that has some ambiguity in it, which is most of them, the executive branch as they implement the law into rules and regulations to be followed, the court in an event of a challenge to that, will give deference to the government executive branch experts who interpreted the congressional language. the supreme court decision early this year removes that deference and replaced it not with a deference to congress, but by now putting the courts in the position, concluding whether or not the executive branch had gone beyond what congress intended. what the impact will be on contracting officers is huge. in the particular case the ruling said agencies and the executive branch had gone beyond what congress intended, in some