brian sullivan is at the gas tech conference in houston with conocophillips ceo, brian lance.an, take it away. >> thanks, mike, and i know a guy named mike santoli who has been talking about investor distaste or dislike for oil and gas companies out there as the price of oil goes on. let's hone in more with brian lance. oil traders are net short oil for the first time ever or in a very long time. do you agree with the market's bearishness? everybody hates oil, all of a sudden. >> we know the price is going to be volatile right now. there's demand concerns coming out of china, demand concerns is the u.s. slowing down a little bit, and other areas around the world, combined within an overhang on the supply side, sitting in opec plus, growth coming out of the u.s., and growth coming out of the non-opec, non-u.s. sector as well. it's trading at a lower end of the volatility range than what we would have expected. this too shall recover. demand will recover, and we are pretty constructive as we go forward over the next two years. >> the $68 oil versus $72 oil determine what conoco

conocophillips. we talked to them all today.ing down oil, traders net negative on paper. we never been this more bearish on oil. at least in a decade's time. so, when you get to speak to the ceo of chevron, you ask him what is going on with the price of oil. and mike worth said it wasn't one thing. it was kind of a lot of things. >> supply has been pretty strong. we've seen growth in supply primarily in the americas. we have opec with capacity offline. demand is a little less, i think, than most people expect as we see slowing economy here. we've seen slower growth in china than i think most people expected. it's a market that right now looks well supplied with some cast held back. i think that really explains the near term outlook. >> i'm not a phd in commoditynomics, but when you have higher demand and concern about a million plus barrels coming on from opec as they roll of the cuts, china not going anywhere. increased output from brazil and 2.4 million in america, you get a price stuck in the low 70s. >> what is the talk ther

conocophillips, $22 billion.at everybody says about the ftc. visa, if you use your visa or debit card there is a mini micro fee on top of that. the justice department is talking about an illegal monopolizing dominant position in the debit card. they are halting competition and stymieing big tech from entering. just a little bit of a smack on this exclusive. how does china stay with us, wash up on our show? alibaba. we have rate cuts and liquidity and marshaling in the national team coming through. alibaba because of course another $70 billion have been advocated for buying chinese stocks. they have a lot of chinese companies that are pumping it higher. jonathan: it is up more than 5%. important because we have someone coming to talk on that. coming to the stimulus measures in china. he said this is about the equity market stabilizing things for stocks rather than stabilizing things in the real economy. lisa: for the real economy to stimulate demand that will not do it. you might stimulate it for the stock market