jones: the big three were ep, exxon mobil and conoco phillips. time, the names have changed as companies merged and absorbed each other. what is now conoco was really arco. but the big players have not change. the big two are bp and exxon. influencetioned there over the legislature. what does that mean for regulations regarding oil in the state? it was always a battle to get new regulation and vice. -- regulation in place. then there was a factor of what happened in the oil spill. most regulation having to do with the operation of that taker, the exxon valdez were federal in origin and focus. the regulation having to do with cleanup, on the other hand worth fundamentally at the state level. regulations were a big part of the problems with the spill. the federal operation was to lose, that is why the tanker hit by a reef. the cleanup readiness were to lose and that's why the company that runs the system and the tanker terminal were unprepared for a cleanup. for the first three days, there was no clean up effort. for -- it was ideal cleanup weather

one we are used to, especially with conoco.to make more money. going back to shell, we are going to have a buyback. alix: $25 billion. lng,o mention the fact, they are going to be a huge lng's are prior -- supplier. commodities, very bearish equities in the permian. really good conversation. do not miss that. facebook's face plant front and center. shares for facebook down 20% in premarket. phone, theto the director of research, who has a strong by reading -- buy rating. this brings the stock back down to the level it was at the end of april. right after they started to data misuse problem. nothing facebook said yesterday is any different than what they have been saying for some time. they said growth would slow. the company will not probably grow at already percent mobile -- at 30%. mark zuckerberg has talked about quality of user engagement. people may be spending too much time -- he would like the time be of higher quality. that is a trend. and the reduction in profitability, they have been telling you about that as they hav

at this time, it is only ep, exxon, and conoco phillips. about half of it is above ground. a good rule of thumb is whatever -- wherever it is above ground, the soil conditions are not very good. if you include the financing, about $10 billion in the 1970's, which today would be more than $30 billion. this pipeline was really the of theajor test environmental protection agency, which had just been created in the nixon administration and group out of -- and grew out of the growing recognition that the environment needed to be protected. their original proposal on the pipeline was that the entire length would be buried, and it was the united states geological survey and other scientists who said you cannot do that because of the poor soil conditions, and you need to elevate the pipeline. this technology that you see here was developed in response to environmental worries that if you wanted this state to last and not damage the environment, you had to take lots of special precautions. the fins on the tubes you see are designed to keep the soil where wer underneath are standing,

conoco will sell a stake in clearfield to bp where the british oil giant hopes to increase production to 200,000 barrels per day by the end of the decade in return conoco will get the entire 32.9% stake in the oil field in alaska. >>> coming up, trade war fears continue to spook asian markets after declines in u.s. tech stocks heighten worries over impending tariffs >>> welcome to "street signs." i'm joumanna bercetche these are your headlines european markets open in the red as trade worries weigh passing a shadow over asian equities despite a positive service sector pmi from china. >>> the efo director tells cnbc that the world trade organization should stay renewtrenewt -- reunited in the face of tough trade rhetoric >> the message out of the white house is attacking in a sense all wto members, they should stand together fighting this off. >>> washington gives as beijing takes. the american government grants smartphonemaker zte a reprieve from its u.s. band and a chinese court provisionally bars micron from selling in china. >>> sainsbury sales growth slows as it warns of competiti

you then go out to, for instance, the alpine field, or ist konica -- what conoco doing. you look at the footprint and how we have reduced the footprint so many times over. people cannot believe, is this all you are talking about, all you are working off of? is hostinggravel pad this level of expiration activity? the reason they are able to do it is because of changes in the technology that have come about in the past four decades-plus. down andthat can dive spoke out in an area up to eight miles in radius. that's what our technology is delivering to us. you don't see it on the surface, the caribou don't see it on the surface, the people who may live in the region can't see it on the surface. this is what we are trying to do. we don't want to come in and take the land just to take the land. that is not part of anybody's plan. we want to be able to access a in a way thato so is efficient, clean, environmentally sound, allows for the continued subsistence activity of the native people who live in the region. there are not a lot of communities or people, but we want to make

run dry forcing her to watch in despair as her mongo trees whether it's a similar scene all over conoco hall the village she's lived in since she was a child. and with the ground water level was so much dryer when i was young it was easy to dig a well you didn't have to go deeper tall. women can't dig wells anymore the water's gone because of climate change. many others are suffering to this family grows corn it's tough work and now during the school holidays everyone no matter how young is helping out. the seeds they're planting were given to them via a neighbor after the family lost their craft you to drive. this kind of feed is supposed to grow extra fast in this area the effects of climate change are already painfully apparent helping to combat them requires long term solutions. and that's germany's aim is to help stabilize mali by providing the country with the means to adapt to climate change while also keeping in mind that mali is developing on its own. that's why we help private enterprises adapt to climate change but also to find new investment opportunities connected to the is

today it is only bp, exxon and conoco phillips.line is 800 miles long and about half of it is above ground. a good rule of thumb is wherever it is above ground, the soil conditions are not very good. this took about, if you include the financing charges, about $10 million in the 1970s, which today would be more than $30 billion. this pipeline was really the first major test of the environmental protection agency which had just been created in the nixon administration, and grew out of the growing recognition that the environment needed to be protected. the original proposal on the pipe and was that the entire length would be buried, and it was really excited geological survey and others, scientist, who said you can't do that because of the poor seoul conditions and you do elevate the pipeline. so this technology that you see he was developed in response to environmental worries that if you want this thing to last and not damage the environment, you had to dig lots of special precautions. the fins on these tubes you see are designed

we get quarterly earnings from shell, total, and conoco phillips. bloomberg. ♪ ♪ time now for our global battle of the charts. you can see them on the bloomberg by running gtv . right here, i have the biggest threat to the global bull market rally, earnings are starting to fizzle out. analyst projections for the msci world index, which i have in blue, dropped below last year's episode -- estimates which is in the white. we are a far cry from over here in january, some of the biggest pickup in analytic estimate growth on record. we have great earnings out of europe and the u.s., so what gives? this is mostly asia and emerging markets, where analysts are starting to sour on earning estimates. that is a gtv . caroline: that is definitely one to watch. vonnie: i will see her chart and raise her an exception. at least, a couple of exceptions. we are looking for shell, total, and other oil company majors to report tomorrow. total cash flow is expected to really blow out all estimates tomorrow. flowtory calls the shelf paradise.ash flow shell share

production ex-libya near the top end of conoco's guidance. a revenue number but they are raising their capital guidance to 6 million from 5.5 billion. the stock up 29% this year was looking for a lot. right now the reaction -- i don't want to call it positive but it's not negative. conoco out no offense to them. the twin towers of oil roll out, exxon and chevron. big day. exxon due about 8:00 a.m. eastern time. here's your expectation, eps of 1.27. revenue of about 72.5 billion. three things to watch. production, they came under 4 million barrels a day. will they do it again? also, cash in operations little more than a billion dollars below the consensus last quarter and of course capital spending just under $5 billion. there we go. those are the numbers to watch of the chevron will be out around the same time. eps estimate there is 209. revenue 45.5 billion, your keys to watch again, cash flow, how much did improve guys year over year given higher oil prices also cost. the ceo still relatively new on the job saying that recent cost control i

exxon mobil and conoco phillips. over time the names have changed as companies merged and absorbed each other. early in the day what is now conoco was really arco. but the big three players haven't changed much. big to our bp and exxon. you mentioned the influence over the legislature what did that mean for regulations regarding oil in the state. speemac it meant it was always an enormous battle to get any new regulation in place and it really ran in the opposite direction. regulations ten to get looser. .. .. >> regulations were a big part of the problem in the spill. the federal oversight of tanker operations was too loose, and that's why the tanker hit the reef. and the state oversight of cleanup readiness were too loose, and that's why alaska -- the company that runs the system in prince william sown, the tanker terminal and escort tugs -- was just unprepared for cleanup. so for the first three days or so, there was essentially no cleanup effort. and it was ideal weather. they had, uncharacteristically for prince

piece of the market to be meaningful whatever they are still part of the market, we see exxon and conoco and all of these others -- >> well, we don't want -- >> -- it's not just in the big ones even with the energy moving much better that didn't get talked about. >> are you willing to go all the way and say baker is a ge company? >> i said that >> 3% balance sheet, come on, buy back, we know we want to be there. >> i'm there >> oil prices going north of the $50. again, there's your evidence that the consumer is strong. >> and grinding. grinding somewhere in that 70 to 75 range >> right >> and those stocks are still catch-up stocks. >> i like that, oil grinding, myriad of earnings all stolen from my show tonight. >> i never understand the apocalypse >> it's the smell of good earnings. >> that's a bunch of crap. >> it's total crap >> it's not. >> it is total crap. it's totally to crap look at the -- >> the year end -- >> don't talk at once. >> unfortunately, on the network, we talk about amazon's king of the world. are they really? are there companies that can compete with them? yes, targe

global gas conference and spoke with several industry leaders about their concerns starting with the conocorman. alix: trade impacts between u.s. and china, u.s. and the rest of the world, how does it affect your business? >> we are watching it closely, and hopefully it does not escalate into a large-scale trade war. that's not good for the world. when you boil it down to our business, it is the aluminum and steel tariffs that are placed on some of those products. for our company not having a huge impact in 2018, but if it is persistent in the next couple of years, the cost of that steel is rising. it has a material impact on the company going forward. we use the steel in the tubing that we put in the ground and casing that we put in the ground, the pipelines we run across the surface to move product. in the long haul, it will have an effect but not so much today. we hope it gets solved in the near term so it does not have a material impact. alix: what about the demand side? china buying oil, starting to buy more oil for the u.s., would you be worried? >> some of our export volumes have mad

. >> bp and conoco did well. thinkthese are companies tha are managing costs and they were able to take advantage of the high oil prices. chevron and exxon, not so much >> costs >> costs are the issue that signals the oil market still has a ways to go we may not stay at $70 a bar rem. barrel the companies may struggle as we go forward when it comes to price, yes, the market is rebalancing. we had that conversation supply and demand are in a better place any kind of geopolitical disruption, any issues coming out of iran. even last week, we saw disruption with the rebels from yemen and the saudis you can see those prices spike back up. that's what could change the market >> so we're dancing on that razor's edge let's bring in richard mallison from energy aspects. you just heard jackie's summation here where do you guys see global energy supply and demand shaping up >> i think the biggest thing on the horizon is the iran sanctions. we think by the end of this year, iranian exports will have fallen by 1.5 million bar

you've got marathon down 6.75%, chesapeake down 5, nearly 6% here, apache, bp, conoco phillip s everybody moving lower, exxon-mobile and chevron also the two weaker names in the dow but a bright spot in the markets right now financials is the only s&p 500 sector currently in the green. bank of america leading the way after beating an list estimates for both revenue and earnings per share on strong consumer loan growth imagine that their lending and lower expenses. currently bac, one of the best performers in the s&p up $1.07 to $29.62, and then you can see the other big banks are following suit jpmorgan, citi, wells fargo all reported on friday they're popping, goldman sachs up 1.75 and wall street brokerages boosting their price targets on their name following friday's earnings but right now president trump en route in the sky back to the united states from helsinki after leaving quite a trail of american fury in his wake after he refused time and time again to back his own intelligence chiefs, he, president trump, put into place. those people and instead chose to support russian preside

conoco was down yesterday as well. it is expected. atx: chevron is coming out 8:30.amp are they reinvestment or buybacks? i think they are on the share buybacks side. they concluded their last big project in australia in june, so that you start giving new clash flow -- you cash flow. david: thank you so much for being with us. paul sweeney, let's bring you in a talk about twitter that broke before we came on air. what is the big story there? they missed a monthly average users and did well on daily average users, but that killed in the premarket. the issue for twitter is size and scale and are they really big enough for advertisers. so they continue to look at monthly active users and a are guiding -- and they are guiding lower. their cleaning up their platform, trying to get rid of that accounts. an investorre worried about scale, that is not the number you are looking for. david: and also increasing other costs, little bit like facebook. at the same time, i thought we were worried about if they could use the average users to make money with advertisers. is this a g

we heard from conoco phillips last week.eing a fairly significant increase in their cost for steel. ity are adding another -- will cost them another $40 million for their pipeline to the basin as well. it's across the board, the impact of the tariffs, especially for u.s. companies. ramy: as for other asian stocks, what should we be watching post earnings? matthew: you certainly need to be watching komatsu and he taught she. -- hitachi. we are expecting that. the frontrtainly in of investors minds, whether they can undercut caterpillar for their machinery given they have to pass on those costs to the customers. what we are going to be looking at in australia is the impact in seven group holdings. that is a dealer for caterpillar. they report results on august 22. that will have to pass on this costs as well. looking at rio tinto bhp, fortescue metals, with their machinery which will be coming on hopefully in the next not-too-distant future. they have got dealerships in china as well. betty: our asian equities report in sydney

slowly but surely they've been populating, marathon, conoco, petroleum 52-week high at least here they'reing to creep up and move in here we have had a one heck of a rally. the s&p has moved 83 points in the last four days or so that's big and we're starting to look technically very positive here here is the s&p for the year the line across. remember we're starting to pass the june and march highs that we had before that's a series of higher highs, lower lows that's technically a very positive indicator the all time high $28.72 that was back in the end of january a ways to go, but that chart is a very positive looking chart. the markets pricing in a lot of good news. i'm worried about the risk is the downside i mean, the market is betting cooler heads will prevail on the trade tariff thing inflation is relatively undercontrol momentum is clearly growth over value. everybody is betting tech is going to go up that's a big bet now and almost other marginal issues rising rates, the higher dollar, everyone seems to think they're going to be manageable and, by the way, we heard that essentially

look at shares of xle, oih, those are ones we commonly look at first, energy earnings after conoco'sarter, exxon blamed refinery maintenance costs, downstream business cap ex surged. at the end of the day, cost is a cost upstream was a bright spot company said higher oil prices would have boosted earnings by a billion dollars but for other issues chevron said profits doubled from a year ago but saw weakness in refining. that's something to watch. interest expenses, higher impact on previous quarters, even though the company said it will start returning cash to shareholders and buying back some stock shares saw a drop. when those are down, etfs slump, and seeing 2% gain on the week i will point out they're up on the week this seems to be a today isolated story >> jackie deangelis, thank you the dow is in positive territory. verizon, walgreen and american express. we'll continue the gdp conversation throughout the day. power lunch. >> we have to talk about amazon among other things what is amazon today how should we look at the business, look at the core retail business or as we were t