they plan to buy a system from conocophillips. this would allow them to cut their fuel bill by $300 million a year. the subsidiary will spend $100 million to make changes to the refinery in order to maximize production of jet fuel. this is as domestic airfares reached the highest level on record as last year. the report from the federal bureau of transportation shows u.s. air fares jumped more than 8% in 2011. the nation's largest airlines have approved three fare hikes this year, setting a spike in fuel costs. >> now, your insta-weather forecast. >> after being stuck in a cool trend, and looks like the warm weather has taken over and it is the first day of may. with temperatures like this, it might as well be the first day of june, maybe july. 79, downtown at the inner harbor. we're expecting temperatures to at least get to a 80 degrees. it is likely to get to the mid 80's out there. looking at the current weather patterns, we can see that the clouds have kind of cleared out. we are starting to see some sunshine. the thickness is

exxon mobile, conocophillips and chesapeake energy have scaled back their drilling due to the glut of natural gas. there's 46% more gas in storage today compared to last year at this time. john woods trades natural gas. president of jj woods and associates with us from new york. john are these companies getting out of the looking for neutral gas at the bottom of prices. >> i think they're trying to establish a point where they say listen we're going to cut this back and we're going to try to get this market up to where it's comfortable for us. that's 275 to $3. at these lower prices, only the consumers are actually winning on this one. >> consumers are winning in a big big way, no doubt bit. what is profitable for these producers. es it significantly above the levels or a little bit. >> anything above $3 at this point in this economy is going to reap rewards for these guys. but is it going to get there? not in the near term. it just doesn't seem like it's in the cards right now. >> we have seen demand at least for electric utilities for natural gas increase significantly year-to-date

chevron and conocophillips and other oil companies were number three and four but they have had a good year. at the same time these oil companies are raking in record profits, home care health organizations are on a financial brink because of medicare's low reimbursement. be no medicare does not pay the cost of the service that is provided. home health care aides are nervous because the cuts from the sequester may push their organizations off a financial cliff. they will find themselves out of work. when they in the states are out of work they are not providing care to seniors to keep them healthy and stay in their homes and stay active. ultimately these health care organizations that they could no longer hire or pay personnel to provide quality health care due to the cuts that are going to take place today here, many seniors who will be transferred into nursing homes and more costly settings. and that is going to cost taxpayers more money. when the choice for me is keeping unnecessary tax breaks for oil companies at the top fortune 500 companies or ensuring our seniors have access to

the airline buying this refinery near philadelphia from conocophillips.l is to try to lower their fuel bill. it's the biggest expense costing more than $300 million a year. the refinery will continue to rep fine gasoline as well as jet fuel. >>> it's going to be a really nice day out there, finally feels like spring, and it's sticking around for a while. >> yeah, it's going to be nice for the fine refineries today. gorgeous day shaping up. a gorgeous looking day today. tomorrow, want to put that antenna up for you. we've got showers thursday into friday. what does that mean? hold off on washing your car. what does that mean? hold off on watering the plants that day. but just that day. thursday into friday. and we're expecting those showers elsewhere, we're going to get a little bit of action up north. maybe a little bit more rain, maybe measuring 1/4 inch, but not expecting anything more than 1/10 in the north bay in the mid to end section of the week. 52 degrees in sunnyvale to start you out. nice mild start to the morning, beautiful sunrise shaping up o

number four, conocophillips.l companies. >> and that has to do with the price of oil, obviously. $100 a barrel. that makes the profits -- revenues and profits of these companies go up and up. in fact, exxon and walmart have been one and two back and forth switching for the past ten years. >> and apple, which has the largest market cap, but in terms of sales revenue way down to, what, 17th? >> they're number 17 in terms of sales, which is not bad for what used to be a tiny tech company. the third most profitable company in the fortune 500 after exxon and chevron. so so, very, very profitable. >> gm is number five on that list which is probably surprising for a lot of people because a few years ago some thought gm wouldn't be around much longer. >> that's right. government motors, we can still call it that because a government still owns a stake in gm. they went through bankruptcy, bailed out by the government. you have to a this is a success now. you know, if you think about the fact that they've made $9 billion i

and con a conocophillips reported to looking to exit nigeria. the sale could help raise about $2.5 billion or possibly more if assets are sold separately. >> west coast guy talking about uncertainty in government policy. but he covered both, uncertainty in demand, uncertainty in government. >> and a lot of that is not policy here in the u.s., but also policy in europe. >> you know what's cool is that you've got the wireless mikes on. so you're walk and talking and sitting down and it's like we're in somebody's home. i thought that was good. >> you love to have that pocket square. >> you can't see it. there's the pocket square. >> still no belt, but let's take a look at the morning stocks to watch monster reported a jump in quarterly profits above street estimates. you might remember a couple weeks ago the share spiked briefly. it he is tesla motor shares fell. i drove one of those. really hard to get it in for me. really kind of -- but really cool. >> i had issues with the ferrari that we were driving because i had a skirt on that was long and t

the delta deal with conocophillips for the trainer refinery, that is putting some pressure on gasolineces at the pump have come down as well. but the other commodity to watch here, of course, the energy complex, is natural gas. it continues to rally higher. traders talking about a short-covering rally here, but others pointing out that we are seeing actually the five-year average surplus coming in a bit. so maybe the warmer temperatures are taking some of the surplus off the table. we are seeing prices, though, still around the $230 level. back to you. >> all right, keep a close eye on all that. >> sure. >> thank you very much, sharon e epperson. julia boorstin caught up with the co-founder of van deesen horowitz. what'd you find out? >> marc andreesen is betting big on mobile and social. he says the smartphone revolution is underhigh and says he'd rather have the invention of twitter than the moon landing. now, andreesen couldn't comment about anything related to facebook and its pending ipo because he is on facebook's board as well as an investor in the company. so, i asked him, when

chevron, conocophillips have oil, will profit. >> that's absolutely true.rise, which obviously they did in the past year, their profits just go through the roof. in fact, of our newcomers to the list, a good deal of them were in oil, energy, or mining and minerals, which also saw a boom. you do see these general trends reflected in the list, which is really interesting. another interesting thing is there are no home builders on the list this year, and there were 11 back in 2007. it's really a snapshot of what's going on. >> what about number five right there, general motors having a good year. >> general motors is one of the interesting stories on the list. the auto companies now are more interesting now than they were ten years ago before anything happened to them. this company mounted a massive turnaround and had its most profitable year ever last year, profits were up 49%. and it's in the top five for the first time since 2008. so gm had a huge year. obviously, thanks to the bailout, it wouldn't be where it is without it. but it's made a massive turnarou