it is a reflection of what is happening in the entergy texas -- the energy sector. when you compare to look at what we see in the bond market, very limited opportunity, we think stocks are still the best place to be. overseas, we are not entirely convinced europe is on better footing. we think the basque risk-reward is in the u.s. japan has a better case. our focus is still on domestic equities. alix: right now i think that isce greece is the -- exiting stage left, people are refocusing on policy diversions. the u.s., given consumer spending increases, given the u.s. economy is gaining steam, people are saying, ok, the fed is going to hike. let's go back to this diversions play with respect to stocks, which could've been the reason why stocks also took a leg lower, because given all the positive data, it bolsters the case for the fed to take away the punch bowl. nuggetother fascinating from that barclays report. they showed this chart suggesting that cyclical stocks may be underperforming. what we have in this chart is 10-year bond yields in g-4 countries have picke

this is what your honors have discussed in concurring opinions in entergy. it means this percentage of the industry has been able to meet this without operating an economic matter and congress is trying to force the rest of the industry to catch up. and as we know with previous experience with catalytic converters, the cost was vastly less than the epa estimated. they have a tendency to overestimate. then to your honor's point about subcategories. section 10.12.c1. it mentions the availability of subcategories. i'm sorry, justice kennedy. it is the appendix to our brief. this is the last sentence. there is nothing in the preceding sentence that limits the authority to establish subcategories -- justice scalia: no subcategories apply to minimum standards? mr. verrilli: yes. justice scalia: i thought the standards were automatic? once they find that they should be listed, i thought there was an automatic requirements? mr. verrilli: it depends on how you categorize. if there were a situation in which one segment of the industry -- was different than another seg

what do they call it, the regulatory agencies that are supposed to regulate the energy people, like entergy is the big one down here. so they said well, we are going to give them a break for the big corporations, but all the little people and small companies are going to get 13% increase next year. host: congressman, i'm sure you are familiar with that. guest: i actually began my work career, my work life, as a member working as an engineer within the construct of the public service commission in new york. which was all about fighting for the people's needs and these regulatory outcomes. -- in these regulatory outcomes. there is a strong need to make sure that in these changing times, we had the professionalism underscored in how these areas are addressed. there needs to be a balance or so as we transition, we are not saturating one element of the ratepayer base and relieving others unnecessarily. hurting other categories. i don't know the specifics on your cases in arkansas, but certainly, as i mentioned earlier, people pay bills, not rates. and it is important to make sure that people hav