energy independence by 1985. the plan proposed increased fossil fuel production and exploration, new alternative energy sources such as geothermal and solar and efficiency and conservation. >> i think it's going to end with everybody changing their habits. >> just start working now, otherwise we won't have time. we will be out of oil in a few years. >> unless we can harness the power of the sun, it will run out eventually. >> the power of the sun. at one time or other, the sun has been to man god, king, father, brother. beyond all that the controlling force of all the lives and moves here on earth. it's fiery element would change the course of continents and sees. would send awesome currents of your energy charging through the atmosphere. -- pure energy charging through the atmosphere. working with other elements, the sun would first start life on our planet. gradual shifting and up people -- and upheavals would bury creatures and plants beneath the service -- many of the surface of the earth. there they would fo

converting raw materials into energy uses up a tremendous amount of energy itself.do manufacturing and heavy industrial plants. we must save fuel there, too. >> here at the san leandro plant, we have cut back on energy by 20%. we have achieved this primarily by being smart about when we turn the lights off and making sure that our equipment is running in the most efficient manner and turning our thermostats down. when you look at it, you wonder why you didn't do this before, but i'm sure it will be carried forward in the future with new and better ways to conserve energy thought up. narrator: waste material can be used as a source of energy. a project in st. louis has proven the garbage can be put to use in generating power. used fuel that once paid others to holloway is being recycled. -- is being hauled away to be recycled. manufacturers of basic products can now collect, brush, compact and recycle metal containers once considered fit only for the garbage. this can create a 95% savings in energy over what it would cost to start with raw materials. >> the savings t

converting raw materials into energy uses a lot of energy itself. so, we must save fuel there at factories, too. >> here at the plant, we have reduced our energy consumption 25%. we've achieved this primarily by being smart about turning lights off and on, and making sure our equipment is running efficiently, and turning our thermostats down. you wonder why we didn't do this before. and new and better ways to conserve energy will be thought up. >> waste can be used for energy. garbage can be put to use generating power. used fuel that once we paid others to haul away is being recycled. manufacturers of basic products can collect, crush, and recycle metal containers once considered fit only for the garbage heap. >> our savings to date are well in excess of $1 million in cash. so, we're convinced that energy conservation, saving energy, is just plain good business sense. >> for all these first steps taken in conserving energy, real conservation means planning by all of us for the most efficient use of energy in the future. real conservation means plan

when we talk about energy security, our focus should be broad in evaluating our energy security, pursuing all of our options, including further increases in domestic production. so i'm going to close my comments, again, by reiterating that we call it the strategic petroleum reserve for a reason. and as the name suggests, we hope never to use it. we hope to use it as that strategic reserve. but we keep it around for good reason. in the event that something happens, if there is an event, whether it's in the streets of hormuz or wherever it may be. in case world slips, and we find ourselves in need, we need to know that this strategic asset, this national energy security asset is there. and, i have said before that it would be a mistake to treat the reserve as anything but a reserve. it is not an atm for new spending or a vestige of our national energy policy. if we begin to treat it as that, i think we risk selling at the wrong team, at the wrong price and losing its substantial benefits. so, again, looking forward to good discussion about energy security in this context and look forward to

clearly we need an energy security policy based on 21st century energy market. changes, challenge, vulnerabilities and needs. key components are a modernized spr, configured to enable appropriate drawdown and distribution capacity. energy infrastructure, resilience of liability, including emergency response, and a broader concept of energy security to include our international engagements, our allies and partners. i'll touch on the latter two points briefly. it's our nation's as you have said both of you it's our nation's most central federal energy security asset. and it should be treated as such. some have concluded that a selling large volumes from the spro will have no or willing impacts on the energy security benefits and i do not subscribe to those views. in fact i believe the spro remains an extremely and powerful valuable energy security tool. as we evaluate the value of the spro, we must take into account several factors including, this is relative to 197 5rks the changed nature of oil markets since the spro was established. we are linked to the global

economy, energy supply emergency. as already stated roughly $2 billion are needed, about 800 in life extension and about 120 billion for modernization, such as dedicated marine terminals to respond quickly in emergencies. the return on these could be huge to a study out of oak ridge suggest that, for example, adding about 2 million barrels per day distribution capacity could save our economy a major disruption tens of billions of dollars, up to $200 billion depending upon the nature of the disruption. so we need a robust spro to guard against the economic harm of such a major disruption. this is not theoretical. if we look at many events in of these including just last week the russian military intervention in syria adding another element of geopolitical uncertainty in that entire region. just to finish with a couple of words on energy infrastructure, resilience and liability. this was discussed extensively in the qer. this is challenging. our existing infrastructure is not always well matched to our supplies. we have

these two energy projects. effectively chilling the public's ability to bring bonn phied claims to seek judicial redress for environmental harms in their communities. just for good measure, this legislation blocks any common sense hydraulic fracturing rules. instead of undermining the bedrock of our nation's vital environmental protections, we should focus on real constructive reforms that will achieve tribal self-determination in energy development without sacrificing it commonsense environmental laws. mr. speaker, i reserve the balance of my time. the speaker pro tempore: the gentleman reserves his time. the gentleman from alabama. mr. byrne: mr. speaker, i yield two minutes to the esteemed gentleman from montana, mr. zinke. the speaker pro tempore: the gentleman from montana is recognized for two minutes. mr. zinkey: i rise in support of h.r. 538, the native american energy act. mr. young, my esteemed colleague from alaska, i commend him on his efforts over the years. this represents a significant step for t

creating jobs, keeping energy affordable, boosting energy production, improving our energy security, that's what this bill does. i would urge my colleagues to support the barton bill. in a vote later on this morning. i yield back the balance of my time. the chair: the gentleman from michigan yield back the balance of his time. the gentleman from texas reserves. the gentleman from new jersey is recognized. mr. pallone: mr. chairman, i yield two minutes to the gentlewoman from california, mrs. capps. the chair: the gentlewoman from california is recognized for two minutes. mrs. capps: i thank my colleague for yielding. mr. speaker, i rise in opposition to h.r. 702. not only does this bill incentivize more oil development while ignoring its impacts on our climate, it also essentially guarantees billions more in profits for oil companies while doing virtually nothing to help consumers. there are many more important issues that we should be spending our time on to actually help american families. like raising the minimum wage. making college more affordable. instead we are passing a bill

of american energy. so with that, please join me in welcoming jeb bush. fmr. gov. bush: thank you, you are very kind. [applause] fmr. gov. bush: thank you, all. daniel.u, thank you. daniel, toby, and derrick, and ryan now has joined the team, where is ryan now? there he is, he is the good-looking one. [laughter] fmr. gov. bush: this is a great american success story, and i'm honored here that they have called me here. it is a great american tradition for families to stay together and in fact, it is quite common in the oil sector that this takes place, and this is an extraordinary, extraordinary company, and i am proud to be here. i want to mention toby for just a little bit because he is the second brother, and i always admired the second mother is in families, i don't know about you. [laughter] [applause] fmr. gov. bush: i think the guy is going places. [applause] fmr. gov. bush: this is a great business that has taken an idea and invested in the idea, took concept,great american and applied technology

of secretary of energy. welcome to the committee, and we look forward to hearing from you. >> thank you. i have submitted a detailed testimony. clearly we need an energy security policy based on 21st century changes, vulnerabilities, and needs. key components are a modernized fpr configured to enable appropriate drone down and distribution capacity, energy infrastructure, resilience, reliability, and a broader concept of energy security to include our international engagements, allies, and partners. i will touch on the latter to points briefly. it is our nation's most central federal energy security asset and should be treated as such. some have concluded that it will have no or little impact, and i do not subscribe to those views. in fact, i believe it it remains an extremely powerful and valuable energy tool. we must take into account several factors including relatives in 1975 the change in nature of oil markets. we are linked to the global market and are exposed to global prices. and these historically h

future energy. we also have mr. kevin book, who will join the committee. he is the managing director for clearview energy partners. we have mr. jason bordoff professor of professional practice in international and public affairs, founding director for the center on global energy policy at columbia university and the final panel member will be sarah ladislaw, the director and senior fellow for energy and national security program at the center for strategic and international studies. admiral blair, you're at this end, miss ladislaw that end. and with that quick introduction and, again, just to thank you for your patience this morning, hopefully you have gained good insight from the questions that were posed by the committee members to the secretary and his responses as well, but again, thank you for your willingness to be before the committee. if you will please proceed, admiral blair. i would remind you all, that your full written statement will be incorporated as part of the records and would ask t

to truly get energy security or energy independence in our country. that is one of the key points in the review. my question to you is if somebody is going to follow all the laws, the regulations and invest millions of dollars and still wait seven years for a sighting sai decision -- whether somebody is trying to reach traditional or noble energy, what is the message? if they cannot make the investment and rely on the laws -- regulations and still get have to wait for a decision for seven years, how are we going to get people, companies to make the investments to build the energy infrastructure to make this country energy secure? senatorz: well, as center cap anito said, we do have challenges. quadrennial energy review, you talkinfrastructure . many parts of the country and all we can do is, we keep pushing on that to go forward. our authorities with regard to international energy is energy exports and electricity. >> would you invest millions of dollars in order to build either a traditional or renewable project if you might have to wait seven years

and we're on our way to a 100% clean energy target, a 100% clean energy target. hawaii's reliance on imported oil is bad for economics. we have the highest electricity rates in the country, three times higher thank th -- than te national average. we're paying higher prices than anywhere in the nation. so something had to give to bolster our own economic energy, we made the decision to transition away from fossil fuels to solar, wind, and geothermal. clean energy is hawaii's future, but it is important to point out that in the beginning we had naysayers on the left, the right, and the center, much like the current debate in the congress. there are those that think that what we do in the clean power plan or the carbon fee about not be enough and there are those who think that we're doing too much and too fast, and i remember exactly this conversation in hawaii in 2001. in 2001 we started small and passed a voluntary, renewable portfolio goal that encouraged utilities, didn't mandate, encouraged utilities to generate 9% of their electricity from clean energy by the

we like talking about renewable energy and energy efficiency. we like to talk about what we are doing. but in order to o better inform our uniform service memembers, e neneed to talk about why it is important to them so ican form decisions that they make, so they can have assured access to energy when and where they need it for resiliency. incorporating at advanced technologies to give us the nd oflexibibility and adaptability we need to win in the complex world we are involved in. fox think of your job and they focus on the energy benefit. andolks think of your job th focus on the energy b of it, not to the water bit of it. why is water so important? >> it takes energy to pump water outt of the e ground. it takes energy to process that water, to purify it. it takes energy to distribute the water, and it takes energy to reprocess the water before you injected back into the ground. going to, if you are look at energy, you have to o lk at water. in california, they have a drought siation. they are looking a at how they ,ould -- how they use watere

clean energy reduce emissions, but were energy, for example electricity, if you look at the 30 states that have renewable portfolio standards there average price of industrial electricity and residential electricity is 20 percent to 25% higher than states that don't require a large number of electricity to come from renewable standards. things like electric vehicles. electric vehicles were developed back in eight 1834. than 100 years later and electric vehicle still have the battery capacity, the ability to drive as far as consumers want. we have been trying to incentivize renewables, but according to the congressional research service 80% of all the subsidies for energy go to the venerable sector. certainly has a place in our energy portfolio, but we need to remember that fossil fuels are going to be dominant probably for the next 30 or 40 years. host: what it means for renewables is a topic that house member frank akoni, democrat from new jersey, talked about in the debate on the house floor yesterday. [video clip] >> there are the environmental and climate aspects of listing -- lif

it is that considerations of climate change, energy efficiency, renewable energies are not only contradictorytheir bottom lines, but for the companies, they are discovering they can enhance their bottom lines. for decades our addiction to fossil fuels and imported oil i think not only threatened our planet and our security but also our economy. and what we've been able to do over the last seven years is even as we obtain the number one status in the production of oil and gas, what we've also been able to do is to slowly begin the transition of our economy to a cleaner, smarter approach to using energy. many of the companies sitting around here have been at the forefront of that process. we have now doubled our production of clean energy, we've been reducing our carbon footprint even as the economy grows, and this progress isn't just creating a safer planet, it is also creating jobs and business opportunities and it is something that customers are increasingly looking for. thanks in part to investments, there are parts of america where clean power is actually not only competitive but in some c

creating jobs, keeping energy affordable, boosting energy production, improving our energy security, that's what this bill does. i would urge my colleagues to support the barton bill. in a vote later on this morning. i yield back the balance of my time. the chair: the gentleman from michigan yield back the balance of his time. the gentleman from texas reserves. the gentleman from new jersey is recognized. mr. pallone: mr. chairman, i yield two minutes to the gentlewoman from california, mrs. capps. the chair: the gentlewoman from california is recognized for two minutes. mrs. capps: i thank my colleague for yielding. mr. speaker, i rise in opposition to h.r. 702. not only does this bill incentivize more oil development while ignoring its impacts on our climate, it also essentially guarantees billions more in profits for oil companies while doing virtually nothing to help consumers. there are many more important issues that we should be spending our time on to actually help american families. like raising the minimum wage. making college more affordable. instead we are passing a bill

energy in the winter? kinds of things? higher mileage vehicles so we use less oil on the highways? gov. pataki: heating oil when the price of oil is four dollars a gallon for gas -- there is no question that efficiency is one of the most important things we can do. what i was governor, we put in place a number of policies, incentivizing use of appliances, for example. incentivizing, retrofitting homes, insulation, thermal windows. there is no question that we can do that in a way where the homeowner or the business gets a return on their investment. they will save so much with lower energy costs that it will pay back over a very short period of time. that is an important part of it. another area where i am sure democrats and republicans -- if we set aside our finger-pointing and try to gain partisan advantage over solving a problem, could come together and solve this problem. there is a good idea out in california -- gov. bayh: there is a good idea out in california that i became aware of. vermont and main

our goal is 100 percent local energy and renewable energy by mid- century." a goal he hopes other communities will also adopt. in decorah, sarah mccarthy, kcrg-tv9 news. the group will hold an "energy extravaganza" this saturday. the public can tour solar homes in the area and find out more about the technology. for information on that event, look for this story on kcrg dot com. a house committee grilled hillary clinton today at her long- awaited hearing on the benghazi attacks. she answered questions about what happened before, during and after the mild with lows in the 50s. a few showers are possible friday morning, but the rain will start in the afternoon for most of us. we'll have highs in the lower 60s. wet weather continues into friday evening games are looking somewhat soggy. fortunately, lightning should not be a significant issue. rainfall totals of a quarter to half-inch are looking common, but some locally higher amounts may fall. we'll clear out on saturday, which gives us a pleasant weekend.tonight: turning cloudy low: 49-55 winds: e 10-15 alo: 5

energy independence. we are not independent when it comes to consuming food. we import food and that's just as important as oil. i want to hit on what steve said. our government has always been the enemy when it comes to energy. in the early 70s we cut oil production from 10 million barrels a day down to 8 million by 1973. we had the national energy act in 1973 by nixon. that was a catastrophe. we need the government to get out of the way. and the market will produce ample energy here in the u.s. >> specifically what we need is help from the federal government. i mean, we have had this oil boom but that's because of private land and state lands, not federal lands. look at the red at the bottom of the chart. it's oil production on federal lands. that's still in the red. it's just the private and state lands where we are getting more oil. >> takes ten days. on federal land it takes 300 days. that puts it into sharp relief. the goals of the energy independence may be a good one but it's putting the cart in f

we must the able to cope with future energy emergencies.e must immediately use our traditional energy sources. we must develop new sources. we must manage better the present demands based on energy. we must conserve. the first three goals were largely the job of government and industry. the fourth, observation, is up to all of us. it was designed to make the united states energy self-sufficient by 1985. that is, we would import some oil but not be so dependent on other countries. to meet this challenge we must change our energy habits. we must end our love affair with the big car and use buses and commuter trains. we must walk or use bikes, rather than drive. >> i think it will end with everybody changing their habits and going back to the things that maybe our parents were using, that we had never seen before. >> we will be out of time. we will be out of oil in a few years. >> we have to think of our kids, our kids kids and putting up with all of that stuff, because we are not careful. ♪ >> history bookshelf history book shelf airs every w

thanks to rbn energy and their smart analysis, i think etp is a most-own energy stock. is paying it away from that deal. that is so outsize. i think it should be no more than 8%. that translates into a $55 share price, or nine bucks above where it's currently trading. and that's a conservative price target. if it gets hit with current oil, even though it's natural gas, it's a better opportunity, kept down by being a part of a gigantic series of etfs that force all these companies, the bad and the good, to trade together. "mad money" is back after the break. >> announcer: lightning round is sponsored by td ameritrade. [ bell ringing ] >> it is time. it is time for the lightning round. you say the name of the stock. i don't know the calls or the name of the stock ahead of time. i tell you whether to buy or sell. when you hear this sound -- [ buzzer ] -- then the lightning round is over. are you ready, skee-daddy? john in florida? >> caller: hi, jim, booyah from sunny florida. >> all right. >> caller: i have a question on ryder. >> a local company that preannounced bad num

energy policy area -- energy policy. hi everybody.a: today there are 2.2 million people behind bars in america. millions more on parole or probation. every year, we spend $80 billion in taxpayer dollars to keep people incarcerated. many are nonviolent offenders, serving unnecessarily long sentences. i believe we can disrupt the pipeline from underfunded schools to overcrowded jails. i believe we can address the disparities in the application of criminal justice round arrest rates to sentencing to incarceration. and i believe that we can help those who have served their time and earned a second chance, get the support that they need to become productive members of society. thisver the course of year, i've been talking to people around the country about reforming our criminal justice system. to make it smarter, there, and more effective. inventory, i sat down in the oval office with police officers from across the country. in the spring, i met with police officers and young people in camden, new jersey, where they are usin

energy efficiency and renewable energy. these programs see an even bigger deficit with funding levels at $773 million below the president's budget request. this delays the development of vital technologies to reduce energy consumption and slash consumer spending. and defense programs are also underfunded with higher spending caps, we could be putting into place strategies to keep nuclear materials out of the hands of terrorists. we just heard about a cessium sale to shady people that i can't remember happening, and whether this opens the door to more, i don't know, but i do know it's a real weakness we have. if we had some money, we could secure radiological sources at medical and industrial facilities. we could install mobile and fixed radiation detectors at ports and border crossings. we could also use additional funds to modernize the nuclear reactor infrastructure that supports the navy. this includes developing more efficient reactor designs that can last 40 years without refueling. these are weaknesses that we see in

energy between now and 2030. compare that to the fact that the entire united states system is 1,100. so they have agreed to build 900 non-fossil. so they have got to start now. you can't turn an ocean liner around on a dime. they've got to do big things. they have to start now and they're going to do that. >> thank you, mr. chairman. and thank you, senator udall, for your generosity and thank you. >> thank you, senator boxer. senator markey? >> thank you, mr. chairman, very much. mr. stern, did the united states join the u.n. framework convention on climate change in 1992 after the senate ratified that treaty? >> yes, senator. >> are you negotiating this agreement under that framework? >> we are, senator, explicitly so. >> so there is an existing treaty, you're negotiating under that treaty which is an authority which congress gave to you and i just think we should make that clear. you're not in violation of any historical precedent. it's something that we want you to do, and it is something that the congress pas

hence the series on energy has stocks to live with, like energy transfer partners and enterprise productsartner es. two super high yielding natural gas oriented pipeline plays as well as occidental petroleum with a rare beginnings of growth, a strong dividend and good balance sheet. most of the oil sheets don't have good balance sheets. i want to talk about another part of the oil complex i kind of gave up on a long time ago but it's back. the tanker business. in particular, my favorite operator in the industry, yes, nordic american tanker. symbol, nat. i used to call naty dread it was so bad. as the rest of the energy sector indeed struggled, in fact, merely doubled over the last 12 months. not even counting the companying gigantic yield, 10%. on the surface seems to have a simple business modelown a fleet of 23 oil tankers, 24th coming later in the month and leased to slints looking to ship or store crude. however, that means the dynamics. tanker are far different from this tradeup oil producer or even offshore drillers that lease their equipment. nothing to do with the price of crude.

when you talk about energy talk about how we make the best deal. they will have numbers header so good. we don't win the more. to think about it we liz with the military. really is with trade. when will we come back to say we'd be tied in a? everybody says japan has so much power over us to say they go out of business. china isn't even doing that well. but they have so many other problems too big a to get away with this. did you see the results of caterpillar tractor? because japan and china in particular it is the number one weapon. it might be terrible but i will vote for him anyway. nobody can do this stuff better than me. so to talk about corporate versions it is not their thing. to be in a live. look at those numbers we have 100 million people it is not 5.3% how is that with 100 million people? that's right time talking about you. but if he comes into work force if he does well after months you give up. we have tremendous tens of millions of people. they are good people who want to work. but it is it reflected because the politicians. i will t

having her own bedroom with a fan to save energy. >> we try limit the amount of energy we use. it can make a huge impact. >> reporter: students travel to class on buses using compress said natural gas and liver in building with solar panels. apartments have energy efficient appliances in a village that is generating 82% of all the energy it uses. >> it is oriented north to south or east to west. that means it capitalizes on the breeze. >> reporter: it is the largest planned zero net energy community in the country. >> it means that you produce on site through renewable energy production, solar panels, the same amount that you consume over the course of a year. >> reporter: it is a $280 million project supported by federal and state grants. even though it is just four years old this village is already attracting the interest of developers near and far. >> a company in dubai that visited here and building a new prototype in due by? -- dubai. >> we will have delegations from australia, china. >> planners predict they will meet their goal of zero net energy in the next 2-3 years. >

of energy and also in the science of energy.hink the paper he has written on this subject is really new and exciting and suggests that the direction we're headed is not where the media is necessarily predicting it will go. not even where a lot of analysts say it will go but in a direction that could be phenomenal for america and for energy consumers around the world. so, mark mills. [applause] thank you, oren, for the kind introduction and thank you all for spending your lunch hour with us here. i'm going to use my time with you after lunch here today to give you a broader framework to give you think about where the oil and energy markets are going as opposed to give specifics in my report that you have, shale 2.0. if you read that, subject yourself, you will know everything i know. if you read the citations and go to the primary sources you will know that i know. many people in this room know much more than i do about the oil and gas business. i want to really do a framing presentation for you, how to think about energy markets

here are the sectors in the s&p 500 energy materials trading higher. -- energy and materials trading higher. is really the big drag once again. biotech stocks getting hit hard. continuing concern about drug pricing. are quite lofty. if you look at oil prices today, you see why many of these energy stocks are higher. oil has been getting a lift in today's session. right now come up about 4%. production had fallen in september in the u.s. some optimism about a bit more progress being made on supply-demand alignment. if you look at the movers individually, it is the oil movers that stand out. the stocks contribute in the most today, chevron and some mobile -- exxon mobil. increase -- gold getting a lift today. mining stocks also doing well. there is this perception that the fed will not raise rates anytime soon. thank you very much. let's take a look at our bloomberg first word headline. mark: the top u.s. commander in afghanistan says the deadly weekend airstrike on a medical clinic was an error. his admission came during testimony today before the u.s. senate armed services committee.

i think if you take the energy goal, for example, there are arguments for renewable energy, and more modern sources. if you look at the first target on that goal, the definition of modern energy is what we would use in about three days here, and a year, and that's a definition of modern energy for the poor. i think we do have to obviously build in sustainability, but it's a little bit - disingenuous to point to the developing countries, and say no coal, no fossil fuels, but there has to be a mix in terms of development, and i think the way to do it was to think about how we integrate the systems, modern energy and infrastructure, but it has to be a clear-eyed view if we are talking about economic growth and growing countries. the old buzz word used to be appropriate technology. the developing world answered back appropriate for who. you don't need all the things you have right away, and we'd like to have them. how do you keep sustainable from getting that same nasty radioactive charge on it. >> well i think it's exciting because of the leap frogging. if you take mobile phones, which

>> well, i have great energy, i've always had great energy. you know what gives you energy? when you will you halove what y. i think you're born genetically with more energy than others, which is fine. i have energy because i love what i'm doing, whether it's my business or now running for president. we're going to make america great again. >> donald, we'll let you go. continue your energy and your campaign. >> thank you very much. >> that's a special edition of "cashing in." tell us what you think. #wakeupamerica. >> bye, everybody. does everybody know him? eric bolling. at mfs investment management, we believe active management can protect capital long term. active management can tap global insights. active management can take calculated risks. active management can seek to outperform. because active investment management isn't reactive. it's active. that's the power of active management. plan well and enjoy life... ♪ or, as we say at unitedhealthcare insurance company, go long. how you plan is up to you. take healthcare. make sure you're covered for more than what just me

joe: there was a call that the bottom is not in for energy. we've seen energy prices stabilize.on, the producer can continue to produce for a while and still be profitable. i wonder whether the calls are necessarily contradictory or whether the stocks look good. scarlet: he is looking at the underlying commodity prices. the call you are referring to is regarding the pricing of the stock. joe: he said that -- alix: he said that stronger prices are needed to sustain gains, but there are underlying valuations that make it attractive. 24 --looking for 15% to 20% more cost inflation? joe: where do they get the savings from? alix: we'll save -- oil services. they can say i don't want to pay you want -- pay you $1000 for your rig. scarlet: deutsche bank is saying that the leadership we are seeing in energy stocks is premature. don't read into it. valuations are not attractive. they are being driven by market internals, the rotation into energy and commodities will reverse. areaid that 15 times p/e pricing $65 per barrel oil in 2016, which is way too optimistic -- which he says is way t

we can be totally independent of energy if we have an energy policy that works. this is not realistic. that's why i totally oppose this new power plan that comes out. it's a shame we have to rely on the courts to protect something we should be doing in the halls of this senate. it's a shame the courts have to come in and protect us. it really is. with that being said, i yield the floor, and i thank my colleagues for being here on this important issue. mr. inhofe: mr. president? the presiding officer: the senator from oklahoma. mr. inhofe: mr. president, first of all, i'm going to appreciate the fact that our colleagues from west virginia, north dakota, kentucky and all of us are getting together on this on a bipartisan way. i think it's worth repeating to make sure everyone understands where we are on this thing what a c.r.a. is. a c.r.a. is a congressional review act. it is one that is -- that allows an elected person who is answerable to the public to weigh in on these decisions that are made by the president, who is not -- who can't run again for office, by th

it also doubles the existing energy efficiency requirements from existing buildings. we'll need to meet that 50% for cleanpowersf by 2030. we also worked with other clean power -- sorry, community choice aggregation programs in california to protect against some of the modification that is were proposed in sb350, i'm happy to report that we were successful in avoiding some additional regulatory layers that the legislature were considering imposing on cca's that would have taken away some of our decision making autonomy and we avoided some efforts to increase our exposure to exit fees and other charges that were being advocated by the investor owned utilities, so we had some successes there, we have some new obligations as well and that legislation is awaiting governor brown's signature at this time. so, now i'm going the move on to our supply efforts. and just as a reminder, the program is providing -- the cleanpowersf prow power is providing two program offerings, our default product offering at 33-5% bundled renewables, and our premium product, the 100% renewable an

maintenance. -- energy should accelerate maintenance. spr should be loaded on marine vessels for delivery. as incremental supply without displacing privately owned oil on the market. congress should update and release criteria to allow for release of oil from the spr in response to a supply emergency, even if it does not affect domestic production or imports. if, and i think this is the criteria, if the interruption is likely to affect the price of oil, posing a substantial risk of economic consequences, and i share the sentiments you describe on doing this carefully, but i think we need the flexibility or when a crisis hits. the white house and department of energy should complete the the secretary mentioned about the appropriate size of the spr, given the changes in energy landscape, but my guess is when all is said and done and appropriate size will not be far from what we have today, it feels about right to me. after reaching a consensus on this size and the guidelines for using the spr, the department of energy should initiate a lon

future energy. we also have mr. kevin book, who will join the committee. he is the managing director for clearview energy partners. we have mr. jason boredove professor of professional practice in international and public affairs, founding director for the center on global energy policy at columbia university and the final panel member will be sarah ladislaw, the director and senior fellow for frg and national security program at the center for strategic and international studies. admiral blair, you're at this end, miss ladislaw that end. and with that quick introduction and, again, just to thank you for your patience this morning, hopefully you have gained good insight from the questions that were posed by the committee members to the secretary and his responses as well, but again, thank you for your willingness to be before the committee. if you will please proceed, admiral blair. i would remind you all, that your full written statement will be incorporated as part of the records and would ask tha

our goal is 100 percent local energy and renewable energy by mid-century." if you'd like more information on the energy event, look for this story on kcrg dot com. students in the dubuque school district now have a harder time sending selfies through the social media app snapchat. the district blocked the app from its wi-fi network on wednesday. administrators say snap chat is distracting at school. they say it wasn't one specific incident that caused them to block the app. the school district says snapchat has no educational value, unlike other social media sites. "the way we balance that there's a lot of educational value that twitter offers as well. there's a lot of professional learning that happens on twitter. " students can still access snapchat using their own data plans. other school diricts also block snapchat, including western dubuque. waterloo schools block some social media sites, but not snap chat. the university of iowa is preparing to ask students about their experiences with sexual assault and misconduct. starting monday, the university will

we have energy -- energy prices really pulling down the energy price -- the average prices as well. -- energy prices really pulling down the major averages as well. the only group that is in the green today is health care. that is also thanks to earnings by company like pfizer and merck and bristol-myers. betty: let's get a check of the headlines. mark crumpton has more from the news desk. and athe white house bipartisan group of lawmakers have reached a tentative two-year budget agreement to avoid a debt default and reduce the possibility of a government shutdown. the proposal already faces conservative opposition. john boehner big knowledged that the agreement is imperfect, but he called it "a good deal." a voteis especially -- is expected in the house on wednesday. the u.s. and israel were the only countries voting against an embargo in cuba. vote had the highest ever number of countries voting , 191.demn the embargo in other news, the next time international talks are being held over syria's future, iran could have a place at the table. u.s. officials say, for the first time, an i

we're flat with energy. we're probably up 6% to 8% when you strip out energy. when you start to see the slower move over negative, individual investors will get drawn back in and they're going to look for value. >> i think it's unquestionably just a pause in a bull market trend. you still have rates. you still have credit. you still have all of the asset classes basically unattractive. real estate we see starting to fall part a little bit in london gu i think that equities still the place to be and that's going to prove out as we get into last couple of months and next year. >> adam parker, morgan stanley's chief u.s. equities strategist live with us today from i believe new york city. adam, welcome back. >> thanks for having me. >> weigh in on the conversation, if you would. >> sure. look, my view is that this is going to be the longest expansion ever. right? maybe even lasting until 2020 because the economic factors, the quarterly behaviors in the credit cycle don't dictate close to a cycle end. it will be long cycle but with low growth. point one. point two

energy between now and 2030. compare that to the fact that the entire united states system is 1,100. so they have agreed to build 900 non-fossil. so they have to start now. you can't turn an ocean liner around on a dime. they have to do big things, they have to start now and they're going to do that. >> thank you, mr. chairman. and thank you, senator udall, for your generosity and thank you. >> thank you, senator boxer. senator markey? >> thank you, mr. chairman, very much. mr. stern, did the united states join the u.n. framework convention on climate change in 1992 after the senate ratified that treaty? >> yes, senator. >> are you negotiating this agreement under that framework? >> we are, senator, explicitly so. >> so there is an existing treaty, you're negotiating under that treaty which is an authority which congress gave to you and i just think we should make that clear. you're not in violation of any historical precedent. it's something that we want you to do and it's something that the congress passed. thi

save water save energy. i think all these things combined is going to make a big difference in your house. >> yes, hope so. >> for more household hints go to powerhousetv.com. >>> here's a question from a viewer like you. >> we've been in the house for ten years or so. we've never done anything with the furnace, i never had the ducts clean. >> it's a good idea to have your furnace inspected each year it will help reduce your heating by 5%. the inspector will make sure it's running safely and not leaking carbon monoxide into thanks for asking.i'll tell you when that was, and how to move it out of the way, sunday night. --------------------- what could possibly bug a hawkeye fan about an 8-0 record? the baggage >> here's a question from a viewer like you. >> how thick should the insulation be in the attic of your home? >> making sure you have insulation is the best way to save energy. r-49 to r-16, 16 to 18 inches of fiberglass insulation or about 12 to 14 inches of blown in cellulose. use a ruler or tape meas