majority control of their products exxon mobil and conoco phillips refuse and as a result their assets were cease and when oil prices were high chavez spent billions of oil of the money from the oil industry into the country social programs but he failed to invest adequately in its capital invest in oil industry and by twenty eighteen venezuela's oil production fell to one point five million perils a day so venezuela's oil industry cannot currently recover without significant reinvestment and that's when china comes into place which has lent over fifty billion dollars to venezuela through or oil for loan agreements over the past decade securing supplies for its fast growing economy so countries like china who are desperate for oil stand to lose a lot of money event as well as oil industry collapses what a great report just makes me wonder whether or not folks out there whether or not to join or russia or the u.s. in the u.k. are more interested in profits than the people of venezuela thank you for that and lightening report. back in twenty fifteen headlines touted the demise of so-call

and results from amazon, ge, conoco phillips, mastercard and ups and friday we'll round out yourp weekthe monthly jobs report, the oil rig count, that matters, and it dropped two weeks ago in a big way as well as a bunch of energy earnings from names you know from exxon and chevron. i'm tired already. joining us now is dan from pal said capital management. is that enough for you >> kind of a boring week, isn't it >> are you going to get any sleep? >> zero. >> of those things, china trade talks, federal reserve, earnings, et cetera, throw everything else into another basket. >> sure. >> what's the most important thing for you and your clients >> the federal reserve is very important because really you've got to see that the money is not going to be restrictive. what i would be looking for is further clarity on the size of the fed's balance sheet. >> how much they're bringing that down, what they call not qe, these is qt, quantityive tightening >> define the plan and certainly not use terms like auto pilot or, you know, those sorts of things because you can't do two things at the same ti

conoco phillips down almost 3%. impacted by the weaker corporate earnings results we saw earlier. the possibility we could see a wider global slowdown. and the big oil will report earnings later this week. david: that is a lot of red. coming up, what is in a wall? we will ask our roundtable about where the democrats and republicans could find common ground on border security as the clock ticks down once again. live from new york, this is bloomberg. ♪ david: this is "balance of power." i'm david westin. now mark crumpton has first word news. mark: a new government report says the yuan's budget deficit is set to hit $897 billion this year. the congressional budget office report also protects economic growth will slow as the effects of president trump's tax cut on business investments begins to drop off. the cbo says in the partial government shutdown, we have had a modest impact on the economy. and the president says he does not believe congressional negotiators will reach an agreement on border security by the february 15 deadline. the president told the wall street journal there i

up quarter of a percent on hang seng crude oil flipping after gaining more than 3% yesterday, conoco phillipslatility does not seem to impact -- >> capital budgets based on 5, 50 dollar kinds of prides we think it takes those kinds of prices to satisfy the growing demand, in the world, today. you look at opec you look at u.s. you look at all other regionals around the world going to take those kinds of prices to satisfy that demand, but we are going to see fluctuations we are going to see prices that go back to 60, of 70 if we feel prices be prepared might swing back to 40 dollars. >> price gasoline 2.24 a gallon as you see there, challenges rejected youtube banning dangerous provides like the new challenge says it needs to make sure what is funny doesn't cross line into being harmful dangerous. all those coming up this morning first top story this half an hour impacting your wallet, key economic data on retail sales delayed today because of the government shutdown joining us stephanie pomboy a look at economy backdrop good to see you. >> thanks for having me. >> you think this shutdown compo

theefendants are chevron, exxon, bp, shell, and conoco phillips. these funds will be used top for seawalls and other infrastructure needed to deal with sea level rise. we have some real risk that's going to require some billions and billions of dollars of inent by san francisco on infrastructure if we're going to stop catastrophicoss, so that's what we're looking at. a lot of our developments a occurring along the waterfront. our lawsuit is a part of that. i want to have this abatement fund that has been created now to ensure that we can fund the infrastructure improvements that were going to need to ensure that tse developments go forward without the threaof sea level rise. scholl: politics inan francisco is funny. there are a lot of really enlightened views. on the other hand, it's probably not enough to prevent the business community from making things even worse right on the waterfront. gchristensen: we'reoing to have to adapt.to it's going ake that creativity and energy and capital. the question of how do we balance that economic developmentth