conoco phillips pumped the oil from the formation in south texas. of the country's most actively drilled spots for oil and gas. the dutch oil trading power house is buying the oil as well as the cargo from enterprise products. the company has a subsidiary that owns a refinery in switzerland. it's well equipped to start loading cargo for export. it invested more than $10 million over the past decade. to expand it's pipeline system in south texas. a major part of this is the north beach terminal which can store up to 1.6 billion barrels. they have access to the docks at the port and will be able to lower oil on the ships at a maximum rate of 90,000 barrels per hour. back to you. >> thank you for that. the u.s. government then to impose fresh sairngss against a number of companies and individuals over iran's ballistic missile program. that according to the wall street journal. this would represent the first set of financial sanctions imposed on iran since the country reached the landmark nuclear agreement with the u.s. and it's allies back in july. the

. >> those low oil prices prompting conoco phillips to cut spending on projects next year by 25%.t also follows similar moves by other oil companies. response in the stock price was positive with shares rising about 1 1/2%. morgen brennan has more on the latest energy company to feel the heat from the slide in crude. >> the u.s. oil major releasing its operating plan and capital budget for 2016 sxid and the latest round of cuts are steep. conoco phillips 2016 capital expenditures $17 billion down 25% from its expected budget of 10.2 billion this year. and a hefty 55% lower than 2014. it's the latest reduction from a company that lowered its 2015 budget three times this year. the other big focus of conoco's plan, the dividend, which currently yields 6%. a number of energy companies have slashed payouts including tinder morgan and freeport mcmoran. but conoco executives insist that mangt the stock's dividend is a "top priority." that's a factor that has kept investors interested in the largest energy companies. despite ongoing commodity weakness. >> the big issue is that we're all l

heading in the direction of conoco phillips and b.p. rigs. the barge eventually missed the rigs. emergency measures had to be taken. >> the situation has become a lot worse for us. it has been decided to totally remove all staff. there will be no people left. >> bp says it takes 24 hours. phil: one of america's best-known entertainers has appeared in court. over the last year, dozens of women have come forward with allegations that bill cosby drugged and sexually assaulted them. for the most part, he maintained his innocence. >> bill cosby arrives with his lawyers in a suburb of philadelphia. there, he was arraigned before a district judge. he is to remain free pending bail. a few hours earlier, montgomery county prosecutor kevin steele announced the first criminal charges against the once beloved comedian and sitcom star. >> we're here to announce charges that have just been filed against william henry cosby. these stem from an assault that took place on an evening in early of 2004. >> in a deposition, he admitted urging andrea to take pills and drink wine in his home north of p

the latest example comes from conoco phillips, completely pulling out of the russian market, they sold their stake in a joint venture worth $200 million. >> how about the stock markets today? any sign of what is called the santa rally? >> not much joy on the european markets today. london seeing some games, watching what's happening in madrid. up by .6 of 1%. apple has expressed concern over a proposed new law on surveillance. >> it could paralyze parts of the technology sector, sparking serious international conflict. increasing access to data on internet use, potentially the content of electronic messages. apple has been worried that this may force them to decrypt things like i messages. the parliamentary committee considering the law, they could set a dangerous precedent for other countries. apple is the first of a range of big-name technology companies lining up to criticize those proposals. company isonal train looking for new ways to cut costs. >> they are looking at the 35 hour work week to do that and how they implemented that policy. they want to do a deal with workers for inc

upo paring some gains, earlier this afternoon, conoco phillips up 2.25%. it looks like energy stocks are still on track for a positive close. betty: thank you very much. ramy inocencio at the markets desk. mark crumpton has more from our news desk. mark: betty, thank you very much. connecticut have a nerd dan malloy says he will use an executive order to ban gun sales -- connecticut governor dan malloy says he will use an executive order to ban gun sales to people on the no-fly list. gun advocates oppose the no-fly list or basel because they say it violates the rights of people who left not been convicted of a crime. advisors to president obama are looking at ways to limit gun sales without congressional approval. they are exploring closing the so-called "gun show loophole" that allows people to buy at gun shows and online without a background check. helicopters could be soon flying over ramadi to help iraqi forces in a long-running battle to retake the key city. attackingcircling, ramadi from all four sides. that is where the police are. carter.s. secreta

it has worked for conoco phillips and phillips 66 too.re running exxon or chevron, would you break those companies up? if you were to aggregate the value of both individually today versus the super merge you talk about, we have way of performed. -- out-performed. it does not meet their strategy and long-term growth, but i like where we are positioned. david: that was gary hammond are talking to erik schatzker -- gary heminger talking to erik schatzker. the rent butly in accelerating in terms of decline. all three major averages are indeed lowered. the nasdaq -- down by 2%. the biggest drop we've seen in quite some time. we don't have a chart of the vix, but the vix has been .piking it's a bit of a curious reaction we are seeing here today. we have these too may news events. mario draghi expanded quantitative easing in terms of duration but not in terms of size, disappointing investors to whom he signaled he was going to expand the program inside. that was one major news event. the other, jenny yelling -- yellen speaking before congress re

conoco phillips will be updating it's own investors later today. >> one state in the u.s. that has kind of been reliant on energy has been alaska and now alaska's governor is proposing the first personal income tax in the oil dependent state in 35 years as he is trying to plug a multibillion budge deficit. it also pays residents an annual dividend check from oil revenues. bill walker wants to generate cash to help finance state governments which would mean smaller checks for alaskans going forward. do you think it might be pointed at former alaskan governors? >> is this big news to reinstate this? >> think about how big the population is and how interesting and attractive alaska is for people to go to live. >> right. there we go. still to come on worldwide exchange, another suitor for syngenta. find out the details after this short break. the flu virus. it's a really big deal. and with fever, aches, and chills, mom knows it needs a big solution: an antiviral. don't kid around with the flu, call your doctor within the first 48 hours of symptoms and ask about prescription ta

. >> yes, jim, my question is on conoco phillips. i have it right now.hat's your opinion on it and do you think the dividend is safe? >> they say the dividend is safe but it's often out of control. i know that the rating agencies want to downgrade these guys repeatedly. i'm not a fan. richie in new jersey. >> yeah, first time caller. jim, i'm talking about box, box. you spoke about them before. what do you think about -- >> i think it's an inexpensive stock. i think there's real value at 13. maybe 18 no, 13 yes. tom in massachusetts, tom. >> jim, a new england patriots booyah. >> all right. booyah, what's up. >> hsic. buy, sell, or hold? >> oh, the three muskateers of dental work. i like them all. and that ladies and gentlemen is the conclusion of the lightning round. >> the lightning round is sponsored by td ameritrade. what are you working on? let me show you. okay. our thinkorswim trading platform aggregates all the options data you need in one place that lets you visualize that information for any options series. okay, cool. hang on a second. you can

finally, check out conoco phillips, which technically hasn't been an oil company since three years ago. in october, after bottoming in august, okay? so that's what you have to look at there. however, after trading sideways for a couple of months, the stock traded below its average last week and is fighting to regain its footing. smith believes conoco is less than a buck below where it's currently trading. most importantly, when you look at the full oscillator as well as the relative strength index, rsi at the top and oscillator at the bottom, you can see that conoco has gotten to extreme oversold territory. i know right now people are terrified of all things oil. but when everybody is panicking, it pays to start buying these three big guns of oil. it's a bold prediction and i'm not a big fan of anything fossil but a bounce? if these stocks don't go down on the kinder dividend cut and oil inventories get reported tomorrow then i think we get a bounce, although it might be of the dead feline variety if there's no crude follow-through back to $40. stick with cramer. (politely) wait, wait,

conoco phillips pulled out of places like russia. part of it is sanctions and the massive affect. the have lost up to $1 billion in these areas. that was unforeseen by them. when you have a volatile actor like vladimir putin making economy, that harm his most of his economy has been harmed by oil prices. 10% of the decline there is due to sanctions. erik: let's move on to our final mover. this is fedex. you heard about those packages that were not delivered on time for christmas. that fedex ande ups ended the year in the same place. have the same problems. you can see how investors reacted. fedex had an argument there was a lot of bad weather. vonnie: a spokesman said that on-time delivery was 98%. they are winning the pr battle. the real comparison should be with them. erik: are they a good proxy for the economy? chuck: they have been a terrific taxi for the economy. it's in or miss. amazon prime is the one we're worried about. that takes some of the bloom off the rose for these companies. it's made a selected. we'll the back in bot

. >> conoco phillips say the cap ex budget will $7.7 billion, down 25% from an last december as energy prices stay low. so 2016's projection is also 5% below 2014, so we're talking some steep cuts here. operating costs falling to 7.7 billion as well, but production is expected to grow modestly, 1% to 3%, as several major projects come online. and noncore assets not only an investor call executives spending a lot of time assuring analysts it will and can maintain the different, which is the company's, quote, top priority. also the lower energy prices stayed for longer, but that the company also needs to prepare for the next downturn after that as well as taking steps to do that. all of this on the heels of chevron announcing it too will slash the capital budget 24% to 26.6 billion. if you look at shares of both of those companies, they're both up more than 2% today. >> chevron also said on our air that maintaining the different is a top priority. isn't that interest? that's the mantra right now. we're going to do whatever we can to weather this low energy period. >> very much so. that i

. >> you saw that conoco phillips said forget about it. pulling out of russia. we can't make any money in this venture. it's tougher and tougher and tougher. >> it's staggering to see it. >> apparently it's tough for u.s. oil companies in general to ever make money in russia but conoco says forget it, we're out. >> it has huge implications for trying to migrate away. it has huge implications because unless technology really pix ck up the pace with alternative and renewables. >> cheaper option. >> if you're worried about climate change it's not good. good for filling your tank. bad if you want to, you know, survive without water or dying in the heat. >> stocks to watch today, nike's earnings topping estimates. revenues were a bit short but future orders up 20%. that was well above wall street consensus. among the drivers, demand strong in north america as well as china. 28% or so in china. i think 11 or 12% revenue growth. 4% if you include the dollar. the only just slight negative was that because of getting, working out of some inventory over the next quarter,

the numbers of that coalition were copies like -- the members wereat coalition conoco phillips.tinental resources ultimately dropped out. lobbying the most for this are companies that produce and do not refine oil. on capitol hill, there was a push across both chambers and both parties. some of the earliest supporters of it where lisa murkowski from froma, heidi heitkamp north dakota. and others who come from oil-producing states and were originally wary of lifting the ban.export as prices dropped and constituents got more squeeze, they got more urgent, in terms of their lobbying. then, you saw this concerted push to lift the ban. host: of you are asked if this had any bearing on natural gas exports citing that domestic prices are low but worldwide prices are high. big debate onas a natural gas exports as well. similar to oil exports, there are restrictions on it, dating law saying938 that the u.s. can export natural gas to companies that we have a free trade agreement with freely that there is no government review. there is a government review, but not too rigorous. for compani

look at these, conoco phillips, and morgan brennan, wow, you went from chipotle to this.issance person. >> i am. multitasks. >> you are. >> oil major releasing the operating plan capital budget, and amid the low oil and gas prices, we continue to see the steep -- the cuts are steep, so the company's cap x is down from the expected budget of 10 billion, which, by the way, revised lower every single quarter so far this year, and it's down a hefty 55%. operating cost is lower, but production growth is expected to continue. conoco is forecasts 1-3% increase next year adjusted for asset sales saying the production guidance remains unchanged, so in release this morning, ceo and chairman ryan lance saying, quote, entering 2016, we have greater flexibility and competitive cost structure, streamlined portfolio with ability to deliver high profit growth from the resource base, and this coupled with strong balance sheets gives us the ability to maintain a compelling price dividend and cash flow. we have seen others earlier this week, but they stand by the payout yielding 6% right no

conoco phillips this morning off more than 40 cents, this as the company says that it expects in 2016's estimated budget. why? well, because of the flopping oil prices. the stock is on the heels of what we heard from chevron, said on wednesday, it plans to slash its budget by 24% next year. so, energy, oil lower and energy stocks have been under pressure as well, maria. maria: all right, thank you. still to come, heidi cruz the wife of presidential candidate ted cruz, her take on what life is like on the campaign trail. she's joining us now. one uber tester going for a wild ride. video next. >> welcome back. a shocking confrontation for uber, cheryl casone with the story. cheryl: you've got to see this. this is incredible. this is video we just got out of toronto. what you're seeing here, that's a taxi driver, okay? they're protesting all over the city. the guy realizes that's a uber, and tries to pummel it. the car is dragging him, okay? all right. maria: the white car is a uber driver. >> that's a uberx driver, the huge group of drivers that seized toronto, the mayor came out, they