into and around cushing, oklahoma. it pushes out the carrying charge.hink it pushes the tanker trade. i think that's probably the quicker and easier explanation as to what goes on. how much crude moves, whether it's light crude or whether it's heavy crude, i'll leave that to the people who are far wiser than i am. i think we back up crude into cushing far more quickly and does damage to the railroad companies more than anything else. i think that's the direct play. >> hey, dennis. if you get a lot of crude in cushing, at some point all those tanks are filled. does that force the administration to talk about exporting crude? >> they have to. they have no choice. we're going to continue despite the fact rig counts are falling off the edge of a cliff and likely will continue, we're going to continue to see an increased amount of production in the united states, at least for the next six months so i do think it's only a matter of time until the president has to make the decision that we don't just allow con den sates to move out of export trade but begin th

once the limited cushing are tested, they will sink fast.time, refining stocks are loving their life. they get to basically by u.s. crude and sell it over in europe. they are taking advantage and profiting off it. as analysts think, that's a different story. >> thank you so much for sorting out the oil market. it's not too early. we are a bunch of nerds here. our banks about to get smaller? many are pulling back from new businesses. germany said yes to greece more on that coming up. ♪ >> let's get back to bring you the most important stories before the bell. matt miller and olivia sterns join me. number four shrinking ranks. the world over, banks are pulling back from businesses. jpmorgan and others are announcing steps to closing branches. janet yellen conceded that we are seeing that these charges are large and causing the firm's to spin off some of their enterprises to reduce their footprint. >> overall, wall street hiring has all in 4% in the last year and everybody is hiring in the back office, legal, cyber security to rein in the front

. >> right now i could go out and tell a curb doctor that i'm -- a cush doctor had a i'm suffering from angst. but instead if i want marijuana to study it, what what its effect son the brain and the body. that would take me years. and that's crazy. >> heroin and lsd all these things are easier to study than marijuana. studying aspirin or prozac or lsd, all we have to do is get the drug and start the study. for marijuana we go through a whole different area of reviews. >> three separate agencies and even independent researchers require an open ended public health review unique to pot which can stall research forever. >> we have been working to get a study started on medical marijuana for 12 years now and that approval is just to purchase marijuana. >> the legal supplier for marijuana for research well it's the federal government. specifically the national institute on drug abuse which has traditionally only authorized the study of potential harm not benefit. >> it is a choke point that prevents researchers from getting marijuana simply by withholding marijuana. researchers are not able t

. >> doctor herb cushing infectious disease specialist at temple health.thinks it is even okay to eat food that's fallen on the floor, the five second rule, says it is okay, as long as it is pick up quickly. >> the bacteria are not going to multiply so fast, in 52nd, on the floor, that they'll contaminate whenever you dropped. itit is just not possible. >> are you worried about germs? >> not real. >> i builds up your immunity. >> then handshaking, another germophobe no no. >> we do this. no handshake. >> no handshaking. >> really? >> yes we're very germophobe i can family. >> about doctor cushing says a handshake is fine as long as you keep your hands away from your face, and wash them later. >> and when you wash your hands, make sure to use soap and warm water for at least 20 seconds, and experts say you don't have to use anti-bacterial soap. regular does just fine. stephanie stahl cbs-3 "eyewitness news". >> good to know the 52nd rule still applies. we'll take a short break. we >> "face the nation" will be coming your way little later this morning, 10:30

mark has written extensively on this topic, and michael gordon cush tourism, colorado's first marijuana tours. so michelle, you look at the trends and the polls, and it's really true, a lot of people do believe that it's just a when, and not an if. some estimate that the next decade or two, from your perspective, where is this conversation at right now in the u.s.? >> i actually think that it's going to happen much sooner than people realize. i believe that by 2016 we'll see a revenue of $32 billion. and they're looking at colorado as the great experiment that they're looking at. and in my opinion, it's quite evident that it's a huge success. the demand was so great that within the first week, the retail outlets were actually sold out. so in my opinion, when you realize there's a tremendous public acceptance and record rates of approval throughout the country, and when you realize that people like me, a corporate woman, who is also a mom with two beautiful daughters, and i used it personally, and it worked for me. this is a rebranding campaign. marijuana got a bad rap, and it's a miracu

he rode off with thomas cushing for an undetermined amount of time and they did not know what the duration would be or what would be his role in congress. it is important to acknowledge at this point he was not famous, and he went off to philadelphia, and he wondered how he would measure up to the other delegates, and it was very quickly that he discovered that he could speak, and that he could project, and that he was one of the big shakers and movers of the first continental congress. and in the end, congress lasted for more than two months, and john had discovered his power among the delegates. he returned home in november to practice law, but the momentum to hostilities was relentless and he was elected once again to the continental congress in philadelphia. by this time, lexington and concorde had begun -- had occurred and the revolutionary war and it had begun. except for a few visits home in in 1776, 1777, and 1779, and between men the abigail -- the adamses were separated for a decade. at no point during this long period was abigail or john able to predict the duration of their sep

we sell in to w temperature iti curb canning and we pay -- cushing and we pay transportation and bottleneck price. >> well you have done an amazing job and the ones that will come back the hardest are the ones that are most disciplined. and yours is the most i've seen so far. it's tom jordan. go read their documents. some guys cannot just borrow the heck out of the banks. some guys have cash in the bank "mad money" is back after the break. hey mom, you want to live by the lake, right? yeah. there's here. ♪ did you just share a listing with me? look at this one. it's got a great view of the lake. it's really nice mom. ♪ your dad would've loved this place. you're not just looking for a house. you're looking for a place for your life to happen. zillow >>> it is time! it's the lightning round. and then the lightning round is over. are you ready? time for the lightning round. starting with bob in nevada bob. >> caller: hey, hello and thank you for taking my call. booyah too you. >> done. >> caller: symbol is apo, buy, sell? hold? >> usually bx that is our play in that consecutivesector alex? >>

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thehost: the southern part from cushing to the gulf coast here. guest: that is right.he problem is that the heavy oil is different than the oil that is normally pumped into the united states. it is heavier. can use to be heated under a higher pressure. the pipeline has to have special properties that are not required in other pipelines. that is part of the problem. the capacity of the existing lines may or may not be sufficient. i would not want to put that heavy heated high-pressure oil into the existing pipelines without a lot of engineering beforehand. host: on the line for republicans, good morning. caller: good morning. i am a republican, but i think this climate change problem is a problem for civilization. there are two books that are very important that have recently come out. one is called don't even think about it, why our brains are wired to ignore climate change by george marshall. wired to ignore climate change. there is another book this changes everything. capitalism versus the climate. there was a pbs special about the melting glaciers. is there some wa

of a pullback a little bit in crude after more data showing that we're continuing to see bills in cushing> thank you. >>> whole foods shares up sharply. changes to the image and price cuts seem to be working. we'll tell you now what to do with the stock. >>> meantime let's send it over to sue herrera for a news update. >> thank you, simon. here's what's happening. american express saying it's seeing negative earnings impact of the stop of dealing with costco and shares falling today. wondering whether to buy apple at the current price? and if you're going to disney world, make sure you bring your wallet. the tampa bay times says the price of a one-day ticket could top the $100 mark very soon. actually, 105 and mean the price of a one-day ticket would have nearly doubled since 2003. and there were three winners in last night's $564 million powerball jackpot drawing from north carolina, puerto rico and texas. for more go to cnbc.com. coming up on the halftime report, former yahoo! interim ceo said he would pay jon stewart $100 million a year to relaunch his show. he will join scott wapner a

explain cushing here. >> it's a hub there, and that's where the main wti delivery poins2Ñis. 25 bucks a barrel, though? >> 25 bucks a barrel. if we become full -- part of the problem is the stoj issue here. traders look to the far enof the curve. they say later on prices are probably going to be higher in the 60s or whatever. they are looking at the prices here at 48 saying let's store this crude and sell it later at a higher price. well, if you finally fill up the storage points and nobody can do that anymore and stocks continue to go up, the inventory's go up every week. crude -- >> you have to sell. >> exactly. >> you have to sell it. can't horde it. great point. we are full, full, sell it off, and there's too much of something and not enough buyers? >> price goes down. >> wep exactly. >> demand's part of the equation there right now. >> listen, i have -- jackie, i talked to oil producers, scarry numbers, what oil is selling in the markets, not imex, not repeating them because you cannot verify, but there's people out there starting to desperatelq i can verify that, talked

the budget also raises about $640 billion in net revenue for deficit reduction from cushing inefficientigh-income tax end pection tours. this year's budget again reflects the president's support for common sense, comprehensive immigration reform along the lines of the bipartisan senate passed bill. immigration reform would reduce deficits by almost dlz 1$1 trillion over two decades while strengthening social security and growing the economy. as a result of these measures, the budget maintains deficits well below the 40-year historical average during every year of the budget window. it meets the key test of fiscal sustainability, putting debt as a share of the economy on a downward path, showing that investments in accelerating growth and a strong middle class are compatible with strengthening the nation's finances. and to ensure that our country remains strong and prosperous both now and in the future, it makes smart investments to give every american the chance to contribute to and share in the benefits of growth. i look forward to working with congress and this committee in the coming

providing care more efficiently and cushing medicare fraud. and if you have the people to check the fraud, it's a good idea to have enough people. check like the irs. it doesn't happen from d self-denial.oeit doe per capita health care spending donova has hit record lows. thin do you think slowing the rate of growth in health spending can be attributed to health care reform? >>artm i think there's growing o heal agreement thatth a portion of the f th slowing of health care cost gr growth that we'reow seeing is due s to structural reforms in our health care system including those introduced by the affordable care act. this is the single most facto important factor looking long term to the deficits and debt to make progress on. cbo today projects that spending for medicaid and medicare in 2020 is going to be about $190 billion less just through just th improvements we've seen since after the affordable care act was passed. and the budget contains some bipart important bipartisan eitheriss efforts. one of those is including a ent pa permanent pai

thehost: the southern part from cushing to the gulf coast here. guest: that is right.he problem is that the heavy oil is different than the oil that is normally pumped into the united states. it is heavier. can use to be heated under a higher pressure. the pipeline has to have special properties that are not required in other pipelines. that is part of the problem. the capacity of the existing lines may or may not be sufficient. i would not want to put that heavy heated high-pressure oil into the existing pipelines without a lot of engineering beforehand. host: on the line for republicans, good morning. caller: good morning. i am a republican, but i think this climate change problem is a problem for civilization. there are two books that are very important that have recently come out. one is called don't even think about it, why our brains are wired to ignore climate change by george marshall. wired to ignore climate change. there is another book this changes everything. capitalism versus the climate. there was a pbs special about the melting glaciers. is there some wa

from cushing, oklahoma south into texas.one portion of the pipeline is on track to generate over $15 million annually in tax revenue for oklahoma. that is a big boost for our state with 85% of that money going to public schools. if the whole project is approved that value would increase by 75%. that is a steady, reliable source of revenue coming in for the foreseeable future. the construction of this pipeline has helped fuel our state's economic comeback. these are small towns populations of no more than a few thousand people or so having about a thousand workers based out of these camps was a great source of economic developing for these communities. about 4000 workers were part of a construction -- that is some 12 million man hours of labor. the pipeline continues to bring jobs and opportunities into oklahoma. since 2010 oklahoma has seen a 44% jump in pipeline transportation and construction jobs. this is all from one part of one pipeline in one state. just think what we can achieve if this whole project were allowed to g

thehost: the southern part from cushing to the gulf coast here. guest: that is right. problem is that the heavy oil is different than the oil that is normally pumped into the united states. it is heavier. can use to be heated under a higher pressure. the pipeline has to have special properties that are not required in other pipelines. that is part of the problem. the capacity of the existing lines may or may not be sufficient. i would not want to put that heavy heated high-pressure oil into the existing pipelines without a lot of engineering beforehand. host: on the line for republicans, good morning. caller: good morning. i am a republican, but i think this climate change problem is a problem for civilization. there are two books that are very important that have recently come out. one is called don't even think about it, why our brains are wired to ignore climate change by george marshall. wired to ignore climate change. there is another book this changes everything. capitalism versus the climate. there was a pbs special about the melting glaciers. is there some way

we have a town called cushing the is en treks of the pipelines going -- the centrex of the pipelines going through east, west north and south. the picture if it gets down here is one of our president i guess trying to insult our intelligence by having it both ways. i think the senator from north dakota made it very clear in that the president has dragged his feet and he's been able to successfully stop the pipeline from coming through. the picture i'll show you is a picture of the president obama coming in to my state of oklahoma and standing up with all the barrels behind him in cushing, oklahoma, saying he's announcing that he's not going to stop the pipeline from going south from oklahoma down to the texas border. well that's very good because he can't do it. the only place he can stop it is when it crosses an international border. of course that's where he has continued to stop it. and i have to say this, that he's lost the war on words on this. because people know that we have an opportunity everything that the senator said is correct. we can be totally independent in no time at