the southern leg of keystone's pipeline bringing oil from cu cushing, oklahoma to -- three refineries are likely to receive some 700,000 barrels of light sweet crude per day. not just port arthur will benefit. the entire gulf coast region could tap into this new supply, giving it greater access to mid continent crude. >> as that oil arrives into the port arthur area, it will now be accessible to about 25% of the nation's refinery capacity because it will be connected by pipeline not only to port arthur but to lake charles and to the new orleans refining centers. >> reporter: the benefit of moving cushing crude by pipe? saves refiners big money. >> the oil sells for around 15 to $20 a barrel less than the imported crude coming in by ship. the more you can reduce the cost of the crude oil, the better chance you have of seeing savings at the gas pump. >> reporter: the southern leg raises questions about the northern leg, still awaysing washington's approval. it would bring 830,000 barrels of heavier crude oil per day from alberta, canada to the gulf coast. >> we want to replace that dimi

cushing oklahoma. terminal leave they get both. that you know god only knows yeah it's thank you for the heads up on that it is your point that it's it's time to do something or or what. would you do all of those ideas just to reach around on this you know that's what they did x.l. pipeline but it's not actually right like probably all the streets but. yeah you know i mean well they're doing it but he spoke. right i think we'll still be in refined here need a date you know you have any it's good for them to being shipped off to europe and to south america asia i mean if you actually look at a map we're good really it takes this is there's a little over a harbor you know port right there yeah i mean it goes. excellent point all the replies and thank you for the call. this. bill mckibben has pointed out the this carbon store in alberta is one of the water just chunks of carbon on earth and one of the dirtiest and. you know that it's game over for the planet if the whole thing is is dug up and turned into into oil and or something res

on the producing side, the glut of crude oil in the cushing area has resulted in a discount or wider discount than normal, and because you couldn't get to the gulf coast, those refiners were having to pay world market prices for their supply. by connecting the two, the refiners will be able to access cheaper supply and the producers will get a higher price for their crude. win/win for both u.s. producers and u.s. refiners and hopefully that translates into some benefit to u.s. consumers at the pump. >> does it make a difference, i'm just looking at the fact that canadian crude dropped to more than $40 per barrel below west texas intermediate back in november. will this, do you think, even out the relationship between canadian crude and u.s. crude, and how might that impact your bottom line? >> on your first question, canadian crude isn't going to be impacted as much because it's still a constrained and we're still using inefficient transportation methods to get the product from canada to cushing. those differentials i don't expect to get hit much. they will move in slightly. but i th

. >> reporter: sean bought marijuana infused chocolate truffles and bud called bubba cush. >> how long will that last you? >> i don't know. it might just go on in a frame. >> reporter: this denver resident said he looked fortoward to buying and enjoying marijuana without fear of arrest. >> i have been in a lot of trouble before, so this is a big deal for me. >> reporter: there are limits on the sale of marijuana. buyers must be 21 or other. residents can get up to an ounce, but nonresidents are limited to a quarter ounce. organizers of colorado's campaign to legalize it expect almost a million dollars in sales this year saying it will create jobs, reduce crime, and create tax revenue. >> all that money goes into the hands of the cartels. well that stops today. >> reporter: this one store estimates they served $250 for the first four hours on wednesday. if you are wondering how much does this marijuana cost? how about $100 for only a quarter of an ounce, or roughly the same amount you would pay if wow bought it illegal lee on the street. howard nathan, denver. >> they say they will not

the size the riot police and the press has this nice getting to that deal that said the country's cushing's help and the damage that this morning just before the talks we can do comics that was concealed said. probably this is maybe the last chance for more on that peaceful solution that helps us when people are very skeptical if you squint you hearing any details of those talks. they took sick less aware that delay's indy lights fallon said the increase in the desolate about five hours now. we fear that an inside pitch and presidential administration however if the talks going on what's going on. no one knows that the tiny treats co called on the people had to come to mind done they said to them they should come out tolerate he was supposed to ride the tube so far he hasn't said everyone is wasting and it is kind of attention and that accent the area. a friend tyler and ceasefire since racing at the moment and another thing we mention this enough but what do people think about tuesday's americans he said in a parliament. it's like the man speaking to you they don't really and have high hop

come through the cushing oklahoma. terminal leave they get both. yeah that's why you know god only knows it's thank you for the heads up on that it is your point that it's time to do something or or what will. you do you didn't reach around don't you know that it is still playboy it's not their. street but. you know me well and they're doing a book piece by piece but yeah i think you're right i think we'll still be refined here need a date you know you haven't it's been one of the being shipped off to off to europe and to south america asia i mean if you actually look at a map we're good early in texas is there's a little over a harbor you know port right there yeah i mean it goes i had an excellent point all the reply thank you for the call. this. bill mckibben has pointed out the this this carbon store in alberta is one of the water just chunks of carbon on earth and one of the dirtiest and. you know that it's game over for the planet with the whole thing is is dug up and turned into into oil and or something resembling oil and then refined and w

. >> this is going to be a cross of og cush and sweet tooth. >> reporter: and the first legal deal wasbeen a long time coming since the sale of alcohol resumed after the end of prohibition, marijuana has been on the target of authorities. portrays high school students into a life of crime and insanity. medical marijuana was allowed in 2000. took 12 years before they allowed the use of pot sales. >> this is the forefront. to be a part of history and to -- prohibition has ended. >> reporter: colorado residents age 21 and over can purchase up to one ounce of marijuana. out-of-staters can buy a quarter ounce. >> i'm excited. i've been dreaming about this since i started smoking. >> reporter: there are other rules. no taking marijuana out of state, no consumption in public. main concern for law enforcement, no driving stoned. >> if someone is drinking and driving, they're driving too fast or aggressively. if you're under the influence of marijuana, you're likely to be slow. but, frankly, we've had medical marijuana in colorado for about 13 years. so, we're used to dealing with people who ar

the southern leg opening today, operated by transcanada will transport oil from cushing, oklahoma, hereas, where there are four major refineries, toe tal, valero. they will have access to the barrels of oil that this 485-mile pipeline can bring to this area, but this is really significant because we're talking about the transport of light sweet crude, and we're giving access now to 25% of the nation's refining capacity. when you include the refineries that are in nearby lake charles and also in new orleans. and moving this light sweet crude is really important. it benefits the refiners. it brings their costs down and saves them roughly $15 a barrel. this also raises the question what about the northern leg of the keystone pipeline? of course, still waiting washington's approval on this. it could bring another 830,000 barrels from alberta, canada, down here to the gulf coast. that's the heavier crude that we're talking about. the cost savings there, $20 to $25 a barrel. now, the canadians getting a little impatient with the united states saying that president obama has punted on this iss

the c way, somewhere in the neighborhood of 800,000 barrels a day that are able to come of the of cushing heating oil nowadays with the coal gripping much of the nation. >> that's a big story and we haven't talked about it nearly enough. thank you. bertha coombs at the nymex. looking at the markets on this thursday morning, weakness from the get go. we knew it would be bad judging from the futures. s&p is down almost 20 points to 1825. and we are office shawly looking at the dow's worse single day at this level since the 20th of september. our bob pisani is on the floor at the nyse with more. >> it's a tough day. it started overnight. look at the s&p futures. you can see this simply. look at nalast night. we were up after the close. and 8:30, the chinese showed contraction. futures just kind of dropped. then we dropped again just prior to the open. the key here is to watch the dollar/yen because that's the source of funding. put up the dollar/yen again, please. that's the key for the source of funding in the united states. these people use this money, hedge funds, to borrow cheaply. when

eric holder will talk any moment on the senate judiciary hearing on the hill talking about cushing theying practices. we'll talk to former new york city mayor rudy giuliani and get his take. ? 25 grams of protein. what do we have? all four of us, together? 24. he's low fat too, and has five grams of sugars. i'll believe it when i -- [ both ] oooooh... what's shakin'? oops. [ female announcer ] as you get older protein is an important part of staying active and strong. ensure high protein... 50% of your daily value of protein. low fat and five grams of sugars. see? he's a good e. [ major nutrition ] ensure high protein. ensure. nutrition in charge! [ major nutrition ] ensure high protein. she loves to shop online with her debit card. and so does bill, an identity thief who stole mary's identity, took over her bank accounts, and stole her hard-earned money. unfortunately, millions of americans just like you learn all it may take is a little misplaced information to wreak havoc on your life. this is identity theft. and no one helps stop it better than lifelock. lifelock offers the most co

. >> i've come to cushing, an oil town -- [cheers and applause] because producing more oil and gas hereahas -- at home has been and will continue to be a critical apart of the all of the above energy strategy. >> reporter: also this week the national transportation safety board and the transportation safety board of canada issued a rare joint statement calling on their respective governments to issue new safety rules when it comes to the transportation of freight trains carrying oil. we've already seen major losses of life from such derailments, this unwith as you see -- one as you see last year in quebec. there's growing pressure to build a spur to the bakken oil field in north dakota where oil is presently shipped by train. senator john hoeven of north dakota says if that line was built, as much as 100,000 barrels a day could be shipped by train as opposed to the riskier route -- actually, by pipeline rather than the riskier route which is by train. back to you. jon: we have reported a lot on this program about the railway verls us pipeline decision that has to be made. doug mckelway,

. >> now i don't have to be like, do you want master cush?smoke some weed. >> all right. here we go. seemed like a quiet start to the new way of life in colorado, but how about now, a couple days in? miguel marquez is still in denver. still surrounded at a grow house there. i mean, you know, what you have to do for a job. and miguel, sales numbers. this is why wei wanted to talk to you because sales numbers are hot off the press. what's the scoop? >> look, we're at medicine man denver, which is the largest single grow house and dispensary in the state, and they have been through the roof, i think exceeding all expectations. this is the appropriately named green room. >> you are green, my friend. >> oh, yes, it's not easy being green. actually, very easy being green in colorado right now. they had 650 people they served in the first day. they had to turn folks away. they had 658 the second day. they're getting better at this, it seems. but they're making a lot of money. it's a very, very expensive business, though. keep in mind, the price for

the show's producers have teamed up with a heart doctor in hopes of cushing childhood obesity.kie monster will down his favorite treat once a week and not every day. >>> well, this may rock your cereal bowl. "time" magazine says despite their different fruity colors, froot loops apparently all taste the same. the suspicion confirmed in a blind taste test. kellogg's doesn't claim the cereal tastes like different fruits. we'll be right back after your local news. [ coughing ] ♪ she bringeth us good tidings ♪ she telleth us no lies [ inhales sharply ] ♪ and every time she singeth [ bird sings ] kestrel -- 6 degrees south-by-southeast. ♪ cuckoo grey tailed merlin. coo-coo-coo-coo-caw, coo-coo-coo-coo-caw! ranger riley's back. [ female announcer ] cooling and soothing halls air. what are you breathing? [ female announcer ] cooling aprogress-oh!halls air. [ female announcer ] with 40 delicious progresso soups at 100 calories or less, there are plenty of reasons people are saying "progress-oh!" share your progress-oh! story on progresso.com. lactaid® is 100% real milk? right. real mil

. >> so this is going to be a cross of ojicush, vanilla cush and sweet tooth. >> reporter: and the first coming since the sale of alcohol resumed after the end of prohibition 80 years ago. marijuana is on the target list of authorities. "reefer madness" the film from 1930s portrays smokers into crime and insanity but attitudes and laws since changed. colorado first allowed medical marijuana in 2000. it took 12 years to legalize recreational pot sales. >> this is the forefront and to be a part of history and prohibition has ended. >> reporter: colorado residents aged 21 and older can purchase up to one ounce of marijuana, out of stators can buy a quarter ounce. >> i'm excited. i've been dreaming about this since i started smoking. >> reporter: there are other rules, no taking marijuana out of state, no consumption in public and the main concern for law enforcement, no driving stoned. >>? f someone's drinking and driving, driving too fast or aggressively, if you're under the influence of marijuana you're likely to be slow, but frankly, we've had medical marijuana in colorado for about 13 y

some suggested renaming metlife stadium and the blimp cush life, doobie bowl, the bud bud, the bud bowl has anything to do with marijuana. my favorite, super bowl cdxx which stands for 4020. entrepreneurers are not wasting any time selg t-shirt wsz the lombardi trophy to look like a bong and normal chapters who promote marijuana legalization has placed bets. if denver wins, mormal in washington will sing "rocky mountain high" and if seattle wins, they'll sing "purple ha" m seattle's son, jimi hendrix. >> i like the bud bowl. >> it came -- >> well, super bowl cdxx came from asa williams on twitter. i have to give a shoutout to him. it took me -- maybe i was having a bud. it took me about ten minutes to figure it out. >> there are so many nicknames for marijuana. did you see also that college i'm missions or college applications are up big in colorado lately. >> shocking, shocking. but you have to be 21, kids. >> okay, jane. i'm sure they will take that advice with a grain of salt in those states. good stuff, jane wells joining us in l.a. today. >>> meantime, one thing that's missing this

john from curbing, -- cushing, minnesota, wrote me in december -- quote -- "i am a 58-year-old sales and marketing professional that was laid off due to a force reduction and have been employed for a year -- unemployed for a year. i have not been able to find even part-time work. i have exhausted my severance package and most of my liquid savings just to cover financial obligations and essentials such as food and utilities. additionally, i do not have any health care coverage as my income has been limited to unemployment compensation. now that the federal extension is about to expire, beginning next week, i will have zero income and no job offer pending. i would appreciate your support in doing what you can to reinstate federal unemployment extension in minnesota -- the federal unemployment extension in minnesota. as for me personally, it is of extremely and i would expect many others around the country may also be in such dire straits. you know, almost half -- i think -- i believe it's actually a majority of americans sometime in their life hit a rough patch, and our job is to be th