honest, it was not funded in the house, even million dollars for a loan guarantee program for energy alaska, native villages and the idea is it is $11 million of credit subsidy, it probably could leverage $100 million but actual project which is way above the budget we have for energy so i would like to discuss that in more detail and work through what we could do and the idea would be megawatt projects. >> the chair and i know funding levels for native peoples is incredibly low. i really believe the combined power the chairman, chairwoman and i are enthusiastic about, that also is biomass very often and those kind of distributed energy. also since i am running out of time, i want to touch on methane and the importance of capturing it and because of the greenhouse effect of methane is so much greater than that of co2, we need to capture is at. >> in our work in the qer we have two focus areas other focus areas in terms of the production side but we look particularly at the infrastructure and the natural gas transmission and distribution side, we have a tremendous amount of old cast-iron pip

energy is doing. and i think we have seen some good things. i'll look forward to discussing this loan guarantee with you a little bit more. i think we recognize that in places like alaska and in going back to the discussion about how we partner with canada and some of our infrastructure issues, we know that heat is the biggest energy challenge in the north, not necessarily electricity. so recognizing that the qar is looking to partner with canada on energy delivery to remote areas, this is something i want to work with you on.

senator murkowski, on the energy committee from alaska? host: muted, the main people that reacted was senator murkowski, who is not quite sure , does not want to pop out the champagne, not sure demonstration will let this happen -- the ministries and will let this happen. senator markey out of massachusetts has been vocal against drilling including alaska and along the eastern seaboard. he was critical. with arctic drilling, it is a political issue and something that incites passion and if it is not in lawmakers backyard, they do not care as much. you see images of alaska pristine, home repairs, the arctic national wildlife refuge. i think it should be noted that despite this conditional approval obama has taken several steps in the last few months to restrict oil and gas drilling in and around alaska. he cut off 13 million acres of national wildlife refuge, and parts of the beaufort sea. add late last year, he stop developing. he has taken what's that forward and one step back in alaska which has infuriated people like senator murkowski.

pam: obama says his administration delayed chukchi sea northwest of alaska until it could assurances. the federal bureau of ocean energyds of comments from the public, alaska native organizations and state and federal agencies. >> pam: obama says he is committed to reducing carbon emissions. but he says consumers will still need fossil fuels during a transition to other energy sources. he says he would rather rely on oil and gas extracted in the u.s. under federal regulations than from foreign sources. >> pam: gulf states fear that lifting economic sanctions curbs on its nuclear program will embolden iran to behave more aggressively in the >> pam: it came in surrounded by tugs and coast guard. the entourage. too much for the kayaktivists to counter >> pam: today the city of san jose and the san jose police officers association finalized an agreement to begin to deploy body cameras on all san jose police officers. ♪ ♪ ♪ it took tim morehouse years to master the perfect lunge. but only one attempt to master depositing checks at chase atms. technology designed for you. so you can easily master the way you bank. will will

. >> the approval of ocean energy management to allow shell oil do drill in alaska met with a cheer from american petroleum institute. failure to develop these resources would put the leadership at risk, at a time when russia and other arctic nations are forging ahead. shell says it would like to begin drilling this summer in the chuck chief sea. the ground underneath that sea holds 90 billion bares of oil, which would explain why shell has spent $6 billion exploring the area in the past eight years. this area also serves as a habitat for a large and diverse group of species like walruses. a et therenned species of duck, as well as polar bears bow head whales and many others. critics say what happened to wild life in the 2010 gulf of mexico oil rig explosion could also happen in alaska. woe learned in 2010, that exploration drilling like what shell proposes can result in catastrophic accidents the deep watt ore horizon was drilling and exploration and it exploded and sank triggering one of the largest spills in history. >> environmentalist say the clean up of a spill would be far more di

. >> reporter: the approval from the federal bureau of ocean energy management to allow shell oil to drill in alaska with a cheer from the petroleum institute quote: shell says it would like to begin drilling this summer. the u.s. geological survey says the ground underneath the sea holds 90 billion barrels of oil, which would explain why shell has spent $6 billion exploring the area in the past eight years, but this area serves as a habitat for a large and diverse group of species like walruses polar bears bow-head whales and many others. critics say what happened to wildlife in the 2010 gulf of mexico explosion could also happen in alaska. >> we learned unfortunately in 2010 that exploration drilling can result in catastrophic accidents. the deep water horizon was drilling when it exploded and sank >> reporter: environmentalistings say the cleanup of a spill would be far more difficult. it's too remote to get cleanup equipment to quickly and conditions are harsh, with waves cresting to 50 feet or more. in 2012 the company ran a rig aground, though no oil was spilled. >> there is no proven way to c

senator murkowski, on the energy committee from alaska?ost: muted, the main people that reacted was senator murkowski, who is not quite sure , does not want to pop out the champagne, not sure demonstration will let this happen -- the ministries and will let this happen. senator markey out of massachusetts has been vocal against drilling including alaska and along the eastern seaboard. he was critical. with arctic drilling, it is a political issue and something that incites passion and if it is not in lawmakers backyard, they do not care as much. you see images of alaska pristine, home repairs, the arctic national wildlife refuge. i think it should be noted that despite this conditional approval obama has taken several steps in the last few months to restrict oil and gas drilling in and around alaska. he cut off 13 million acres of national wildlife refuge, and parts of the beaufort sea. add late last year, he stop developing. he has taken what's that forward and one step back in alaska which has infuriated people like senator murkowski. th

energy is doing. and i think we have seen some good things. i'll look forward to discussing this loan guarantee with you a little bit more. i think we recognize that in places like alaska and in going back to the discussion about how we partner with canada and some of our infrastructure issues, we know that heat is the biggest energy challenge in the north, not necessarily electricity. so recognizing that the qar is looking to partner with canada on energy delivery to remote areas, this is something i want to work with you on. i want to try to explore some of the different delivery systems that you're talking about there, whether it's space heating, efficient design, housing technologies. i was out in an isolated territory with the secretary of state on friday. you realize how isolated these communities are, even communities of significant size and significant resource. but the challenges they face, they also are exclusively powered by diesel. >> and expensive. >> extraordinarily, extraordinarily expensive. so how we deal with this. and we've got so much to learn from one another. and this is where i think we have certain advantages coming at us as we take over the cha

alaska coast. they fear a spill and that they should focus on other forms of energy. they say this will balance environmental and economic social challenges. >>> in honor of asia-pacific american group we want to highlight people who make a difference where you live. tonight we highlight two people from cupertino high school. two girls have been honored for their one act play she should have been playing withdrawals. can you see it at santa clara university and we have more information on our instagram page and abc 7 news. >>> coming up next on abc 7 news at 9:00, the penalty considered by a top tourist town to slow an invasion of bicyclist. and your full forecast meteorologist drew tuma is up next. >> i'm colin rash the a's on the virginia of another home loss a >>> city leaders in sausalito has decided not to take action to slow the bike riding tourists. the city council said a thousand bikes visit and clog narrow streets and block picture-esque views. this week they considered pricey fines and setting up an identification system. but after strong opposition from do

the federal bureau of ocean energy management conditionally approved a plan to allow drying for oil and gas off the alaska coast. they would like to begin this summer. the impact of a spill, say critics, would be more damaging. >> there's no proven way to clean up spilled oil in icy arctic conditions. none of the techniques has been proven successfully in the arctic ocean. we learnt the unfortunately, in 2010, that exploration drilling can result in a catastrophic accident. the deep water horizon was drilling in the gulf of mexico triggering a large spill history >>> the american petroleum history had this to say: today's decision puts shell oil on a collision course with environmentalists based in the north-west calling themselves kayak-tivists, and hope to use paddles to keep the oil rigs out of their harbour. >> reporter: there's something big headed for seattle - really big - the polar pioneer. shells floating steerable rig. it's 80 miles away and is greeted by protesters. the welcome in elliott bay should be on a larger scale. >> our capacity shouldn't be underestimated, neither should our resolve. >

alaska. the bureau of energy management gave it's ok.ll needs to get permits from other federal agencies. opponents say the drilling will damage the environment and put wildlife at risk. no one ever paid this much for an auction. a world record $179 million last night here in new york city. the painting depicts a group -- bought by an anonymous collector. christie's took in more than $700 million last night and expects to sell as much as $1.3 million this week. stephanie: become temporary art market is in a bubble. if it is, this is the point where that biggest publishes moment, that is a time of dell. i'm asking myself, steve cohen he just took down a major house in l.a.. i could see it. we know he loves some temporary art. i'm just saying, it might be his jam. he probably has a cool $70 million sitting around. we will take you back to the markets. quite the selloff in the bond market globally. julie, what does this mean? julie: people are resetting expectations. the federal reserve official is saying we're seeing a regime shift where e

alaska's northern coast. those opposed fear an unspoil and say the focus should be on renewable energy. shell says developing arctic resources could be essential to securing energy supplies and, quote, it will mean balancing economic environmental and social challenges. >>> we want to get a check of the forecast. a little cool out there. drew? >> the picture behind you the embarcadero, palm trees swaying a breeze at 30 miles-per-hour at times and that's keeping us on the cool side. live doppler 7hd showing you it's rather dry but one spot we are seeing a lone downpour to the east of lakeport. this is pretty much a stationary cell so not moving that much. no lightning associated witness if at well. a live look outside the east bay hills camera mixture of sunshine and clouds. this evening the stun goes down at 8:13 and as it does, the clouds are going to increase rather and the winds will pick up. by 11:00 going to be rathery chilly with temperature thursday upper 40s to mid-50s. so winds gusting to 24 at sfo. 20 in napa, 25 livermore. the wind will be with us tonight and also through our

in the energy policy act passed the house of representatives once again with a strong margin to share offshore receive news with the states of louisiana, mississippi alabama, california and alaskae energy. and unfortunately those efforts died in the united states senate. and in 2006, the gulf of mexico energy security act in december of that year was enacted. and what that did that replicated an offer that the president made decades ago. 37.5% of the all the receive news generated from federal waters. and they turned it down from president truman and despite that being offered, it wasn't until 2006, until 2006 when congress finally acted and enacted again what is known as the gulf of mexico security act which would share 37.5% from receive news of new energy production that occurs prospectively after december of 2006 and so it's not 37.5% of all energy production or 37.5% of these numbers you see here. it is merely a fraction of that. so it isn't anything close to partity with what happens for onshore receive news, but it is a start and it is establish party and jo shore and offshore policy. in the state of louisiana, we actually passed a constitutional amendment with an amazin

until we can figure out a way to get more oil into what is not just an alaska important infrastructure, but it's a national energy security infrastructure that needs to be protected for the nation's benefit, not just for alaskans. the mood is somber, but alaskans are resilient. goodness knows so many alaskans have, as i've said, they've been there for thousands of years and they've been adapting for that entire time. so there's a resiliency. but there's also -- i would say a hopefulness that together alaskans can come through, make some changes to our base budget, but also see opportunities in the future that will help provide continued jobs for alaskans and for our children and grandchildren, but also support the budget. it's never bad to look at budgets and see where there may be some bloat. and that is happening. but the legislature and the governor will be careful not to try to go too deep. the former lieutenant governor is smiling at me. >> i sense mead may have a question when we turn to the audience. infrastructure is exactly where i want to go. but carol, because the report did have a reflection on infras

alaska that are still outstanding. alix: take you so much for your perspective on this potential deal. abigail hopper, director of ocean bureau energy management. you have the global bond routes sending the 10 year yield to a 2015 high on friday. all of this comes as the u.s. gets ready to auction billions of dollars in coupon bearing debts. joining us now is the global head of fixed income strategy at j.p. morgan private bank. to aboutuy to talk this global route we are seeing in the bond market. what is the catalyst and where does it go? >> i think the deal that was just spoken about in terms of noble and rosetta points to another part of the bond market that is doing really great. that is the u.s. high-yield market. the high-yield market has held up very well in spite of the backup in treasury and is actually up 4% for the year. there are some parts that are doing worse and some doing better. is the risk-free assets, the sovereigns, the u.s. treasuries, that are doing worse because the rates have gone up. the credit markets in terms of high-yield are actually doing fine for investors. alix: what is the risk of greece , say you ha

. >> the approval from the federal bureau of ocean energy management to allow shell oil to drill in alaska melt with a cheer from the petroleum institute: >> shell says it would like to begin drilling this summer in the sea. the adjustment geological survey said the ground holds 90 billion-barrels of oil which would explain why shell has spent $6 billion exploring the area in the past eight years. this area also serves as a habitat for a large and diverse group of species like walruses, a threatened species of duck, as well as polar bears bow head whales and many others. critics say what happened to wildlife in the 2010 gulf of mexico oil rig explosion could happen in alaska. >> we learned unfortunately in 2010 that exploration drilling like what shell proposes can result in cat traffic accidents. the deep water horizon was drilling in the gulf of mexico when it exploded and sank, triggering one of the largest spills in history. >> a clean up in the sea would be far more difficult. it's too remote to get cleanup equipment to quickly and conditions there are harsh with waves often cresting

alaska coast. shell plants to azaleased space in seattle to load drilling rigs. >> duke energy is expected to enter a guilty plea for violating the federal clean air act. the charges stem from years of polluting involving coal ash leaking in north carolina. the company has started delivering bottled water to people near tainted wells. >> a man shot was schizophrenic. they say he attacked an officer with a hammer. they believe he is responsible for several other attacks with a hammer in new york city. >> relations between two developing giants have global implications. patricia has more. it's safe to say that washington will be watching this meeting with interest. >> with great interest, indeed. ahead of this chip, china and india emphasized the importance of deepening economic ties. china would like the growth kick of selling more goods to china while new delhi would welcome chinese investment in infra structure. there are tensions between these two powers, including long standing border disputes and rising geostrategic risks. india is concerned about chain's growing influence in value and south as

energy stocks, like exxon mobile really drag down the market yesterday. the dow fell nearly 86 points, the nasdaq, dropped ten. us government did give royal shell conditional approval to drill for oil and gas off alaska northwest coast. now, this is major victory for the oil and gas industry, environmental groups though, blasting this decision. lost luggage flight delays, increased speeds, they're just some of the problems air travelers face, now the department of transportation says customer complaints about the airlines shot up by more than 55% this past march compared to the same time last year. even though fewer flight were delayed, southwest airlines actually saw the least amount of complaints. >> andres g rooms are going digital. many upscale stores, like neiman marcus, nordstrom are testing smart mirrors and inter-active shelves. you can get info about the clothing designer, and other available colors, the best part this technology left shoppers see themselves in a outfit without actually having to try the clothes on. ukee erika? >> do you buy that, though? i like the idea of it, but i don't know if i would trust what the computers think? >> i don't actually, i'm a skeptic. >> i'm with you lai

energy impacting that sector. today, delta is under pressure. ual pretty much flat. alaska among the airlines that's been one of the better performers. off of their 52-week highs, about six members of the dow transports that's down less than 10% from those levels. so again today with the sell-off, we see the transports fall back into correction territory. back to you. >> mary thanks very much. >>> we'll come back with the closing countdown and see how we close things out. >> stay tuned, you're cnbc, first in business worldwide. in the us, three in ten college students drop out. but how can you spot who's at risk? the one who lives far from campus? the one who works the night shift? the one with new responsibilities? one thing can't tell you, but the right combination can. universities are using ibm analytics to understand pressures in and out of the classroom- some expect to cut dropout rates by twenty-five percent. ibm analytics is working to make education smarter every day. there's a more enjoyable way to get your fiber. try phillips' fiber good gummies plus energy suppo

thanks to alaska and texas and north dakota, our country is close to being energy independent and for this reason we need to take a deep breath and back away from the middle east. these tribes of the middle east the european kol niesers around the time of world war i packed into nation states are not happy with each other. they need to sort that out themselves. there's not much we can do to assist that. what we have spent in iraq and afghanistan, so far does not appear to have brought progress. and it could have gone a long way towards repairing our crumbling infrastructure in this country. you can call this isolationism -- [ applause ] >> you can call it ice tea whatever, but the president's policy of don't do stupid stuff or cause no harm, is a sensible idea. number 11 rational conservation still has a long way to go in this country and we need to practice more of it. in minnesota we send electricity that is generated by coal. we send it to north dakota to run their oil pumps which create tons of natural gas, which they simply flare off as a byproduct instead of using it to generate

alaska. so we have great slides. each of the panelists have a short registration. we'll begin with paula from the department of energy's perspective. turn to carol for the industry perspective. drue is going to do cleanup, and then we'll ask questions and bring you into it. with that, thank you. paula, the floor is yours. >> thanks heather. pleasure to be here today. thanks everyone, for coming in from this beautiful spring day. very pleased to see that spring has finally arrived in d.c. i think it was actually warmer in alaska when we were in juneau last week than it was in d.c. it's a funny world. we're really thrilled to have the opportunity to talk about the arctic and alaska and our oil and gas resources here today. it's a very important moment in our history, as we think about the arctic. i want to share a little bit of the administration's perspective on sort of where our head is right now on the arctic. i think many of you know, because you're in here focused on the arctic, the president set a national imperative for the u.s. to take a leadership role in ensuring stewardship of the arctic. as set out in the nat