germany is great economic nation, export nation. in a country is always the mediator of political processes. and how do other countries see us? i think there are two things that we can be proud of. on the one hand, we solve problems in the world. we are the persons who put people together. and number two, we have a great strength of innovation, technology. we find lots of solutions and people turn to us with solutions. so what does it mean to be german? how can we understand the role of germany in europe and in the world? what can we learn from other countries? the question of identity, ladies and gentlemen, wherever we're going to be? how do we see each other ten years from now? had a peaceful reunification 20 years ago. u interesting there. the third one. i come from oxford. and yesterday i was in a big department store. i heard publicity jingle. and it was called a country that i understand. and it said a country where people still count for something. i said i was in a department store. but what i do not wish for germany is that

he said south korea's doors are wide open for exports and the fta will bring benefits to both nations. the office of the trade representative says the fta will help create some 70,000 new jobs for americans. the office says a deal would remove tariffs on u.s. exports to south korea. they include nearly 2/3 of farm products. a free trade deal between south korea and the u.s. came into effect at midnight oon thursday after nearly six years of talks. the agreement has triggered all kinds of debates between these who support it and oppose it. >> translator: i believe manufacturing industries such as cars, luxury apparel and textile willefit the most from the fta. in the u.s. market, south korean makers are competing against their chinese and japanese counterparts. but south korean products don't necessarily have significant advantage. so if the fta lowers tariffs by 2% to 3%. south korean goods will be able to compete that much more than their asian rivals in the u.s. market. >> reporter: meanwhile the fta will likely deal a heavy blow to south korea's agriculture second torque-cattle far

the export nation germany in particular benefits from the euro. it would be a huge political mistake to allow greece to leave. that is why we will be clear with greece. we will say, if you want to be part of the common currency, you have to do your homework. at the same time, we will always support you. >> many british people see you as the most powerful politician in europe and the most powerful woman perhaps in the world and they wonder, are male leaders still sexist towards you and other women? >> no, i don't have that impression at all. it is becoming more and more of a normalcy tend to we used to have any less women but now, we have a danish prime minister, a lithuanians president and you and britain have had your only good experience with a female promise to in the past. women in the past forged ahead and paved the way for us. should there be any prejudice is, there are just as many male colleagues who don't have those prejudices anymore. >> chancellor, thank you very much. as we have heard, the chancels leadership of germany is between her

the export nation, germany in particular, benefits from the euro. it would be a huge political mistake to allow greece to leave. that's why we will be clear with greece. we will say, if we want to be part of a common currency, you have to do your homework. but at the same time, we will always support you. >> angela merkel there. aaron, there's a new business confidence today. is it not going to germany? >> this is a very closely watched survey of german business confidence. i have to say, the number came through today. it's risen. it's the fifth month in a row where german business -- confidence has increased, if you will. but here's the problem. twfs an increase more than economists were expecting, but only a slight increase. even the president of the e.f.o. institute says there's a note of caution, because going ahead, there's no doubt germany, the power house that we always talk about, is losing momentum. it is not immune from the ripple effects of the eurozone crisis. indeed, if you just look at the growth numbers, last year, 2011, germany grew

their brothers in the region because they're focused on a gcc grid, and third, the saudis do not export national gas. they use that as fee stocks or as energy advantage. i never use the word subsidy, of course, but the energy advantage to businesses and you can do that in electricity instead of natural gas and you can start putting natural gas in the open market and they'll make money three ways off of this. wind is a bit of a problem because the theory works good, but the pitting for wind is a problem that they haven't made. nuclear, they seem committed to move in that direction and we're working diligently on a government to government solution and we're able to proceed a hit with that and they're identifying some technologies and the reality of it is they're focused on the small, modular reactor and idea. they really don't have that yet. that technology is about ten years off. so the short answer is it's moving in the right direction. the longer answer is a plan is coming together. it's not there, but i need to make sure that american companies are there because i think there will be a huge o

russia has not mitigated any of the main disadvantage is of extreme wealth especially when exporting national resources. the ruble is too strong to live comfortably because everything is so expensive. everything is imported there's no point* to manufacture anything in russia. that is what accounts for the extremely high price of living. everyone but the super rich have been priced out of the moscow are real-estate. except imagine most of the country lives in manhattan or once to or works in manhattan and the house to commit a. the explosion of the number of private cars it is not unusual for people to spend four hours per day and traffic. the infrastructure cannot keep up. the gap between the super rich and the rest of us is huge. is ostentatious. moscow has the highest number of mercedes s class in the world. not only do sit in traffic in your little trash can of your car but then you see all of the mercedes with flashing blue lights passing you by abizaid go to do very important rich business. >> if there is anything else? here is the last question? >> notice the protest movement or even he

had the numbers coming out from both china yesterday and from germany, the world's two biggest exporting nations, talking about factory orders weekening. the nikkei logging its biggest one day percentage fall in two months. a lot of that was related to germany. europe is a key export market for japan obviously. the nikkei, as i said, down by one. still at the 10,000 yen level. hong kong down by a little more than 1%. shanghai down by 3% for the week. just a quick number to tell you about, china agricultural bank, that is the third biggest bank in china, reporting this day an unexpected drop in profits. one other stock to tell you about is the fox con. it is the world's biggest contract manufacturer of cell phones. it swung its net profits, they shifted to hiring smart phones. the company that assembles apple's ipad and iphone boasting profits of more than $70 million doubling forecasts by analysts. in 2010 foxconn had profits of more than $200 million. foxconn stock zpiet the overall fall up by 1% today. >>> andrew, let's look at how the european markets are doing. they've only just hoped. a bit

above twenty percent a cent youth unemployment above fifteen percent in a number of these nations and believing export of nations like ireland and greece is now the irish in the greeks so now let's talk about you know what it is that you and other economists are trying to discuss is there a therapy isn't the way the it has to be or that it had to be you know one of the other options not only for greece but for spain for portugal for italy. well austerity in the face of a massive recession is the sick joke made living of you know the gaily floggings will continue until morale improves around here so they are gaily flooding the economy which already has insufficient the mainland and making it worse what they ought to be doing is giving people jobs and having them work and productive things and they cannot do that effectively under the euro structure so the periphery needs to get out of the euro it needs to regain its economic sovereignty by going back in the carrying case and developing the lira. and what we're really seeing is when you give up at anomic sobber it's only a short step to giving up your p

exports. the national initiative has set an ambitious goal of doubling exports by 2015, which is right around the corner. if economic growth in the euro area declines, so will the demand for u.s. products and services. how will we continue on a path to achieving the goal with absent or reduced european need? i think people really don't understand how important it is for us in the united states, for our small businesses, certainly on long island, we do an awful lot of exporting. so how do you see that future coming to? >> you're right that europe has a big impact on the united states. if they grow more slowly or fall into recession, then the drek demand is reduced. that hurts us directly. the effects go significantly beyond that. because when europe slows, the rest of the world slows, too. that means growth outside of europe is weaker. you see stock prices fall around the world. that's damaging to confidence around the world. and the typical pattern has been when europe has been in crisis, this is a good sign of confidence in the united states, but the dollar has risen relative to the euro. so

exports. the national chamber of commerce hosts this 55-minute event. >> i would like to reconvene our forum at this time. as you know, we are still on our tight schedule with one hour remaining on our second panel. the same procedures would pertain to questions from the floor so please begin sending them up as the panelists give their opening remarks. >> moderating our second panel is the honorable allen larsen whose biography you have in the event booklet. i'm sure all of you in the room and certainly we at the national u.s.-arab chamber remember his days in economics and his many years in the aba bureau where he was a champion for u.s. trade and international fair treatment for u.s. companies. so it's a particul call on ambassador larson to moderate this panel. >> thank you very much, good afternoon everyone. we're looking forward very much to this panel. we're going to be considering a set of challenges that perhaps paradoxically are just as difficult and daunting in many ways as those of the economies in transition which we just heard discussed in the previous panel. experience around the

the second major driver of higher gasoline prices right now the first being just the exports so imagine if we as a nation said that for the good of our domestic economy we're going to ban petroleum exports we're going to keep this oil here in the united states suddenly we have a surplus of oil products and prices would plunge there'd be no need for a keystone x.l. pipeline no need to drill in anwar no need to punch more holes in the gulf of mexico so we could all go and gasoline we have right here ready to go but it would lower prices at the pump more americans would have more money in their pockets to spend in stores instead of the gas stations those further stimulating the economy this would be a win win for everybody and it's good economic policy and only one group would be harmed by it and that's the multibillion dollar trans national oil corporations like exxon mobil shell koch industries and b.p. but considering that the five largest oil corporations in the world made over a half trillion dollars five hundred billion dollars in profits over the last five years and has profits. but collecting twenty

that was the road to britain's economic ire relevance, and we want to double our nation's exports to 1 trillion pounds this decade. we're expanding u.k. export finance and setting out smaller firms in new markets. exports abroad must be august paid by investment at home. britain has a welcoming place for investment. we must never allow protecti protectionist rhetoric to creep into our political system. instead, we're actively seeking investment from overseas pension and working to develop london as a new offshore market for the chinese currency. we also want investment from british pension funds and british infrastructure, and we're working with a dozen of the large pension schemes specifically on that. we're the first british government to set out in a national infrastructure plan. the roads, railways, clean energy and water we all need and we have identified. i also believe this country must confront the lack of airport capacity in the southeast of england. we cannot cut ourselves off from the fastest growing cities in the world. and the transport secretary will set out government

economically cotton by the civil war is roughly three quarters of the nation's exports. i mean, this was the oil of its day. the whole country was hooked on it, on northern mills are churning out shoes and clothing largely for slaves. the value of slaves alone was greater than that of the nation's railroads, industries and banks put together. so, you know, i'm sorry. this whole sort of tara image of this doomed romantic world simply isn't accurate. we as a nation are all culpable in this. we were all dependent on this system of forced labor. so i think that's, you know -- when you talk about the continuum, this is a story, yes, that begins in jamestown in 1619, but really with the revolution and then the constitution where they sort of fudge the slavery issue. one of the most remarkable things about the constitution is she don't mention of word slave or slavery in the entire document, even though it comes up in the first article. right from the beginning they were aware that we have a contradiction here. we were creating a nation that's ostensibly pledged to liberty and

germany is a great economic nation, great export nation and a country is always the mediator of politicalnd how do other countries see us? i think there are two things we can be proud of. on the one hand, we solve problems in the world. we are the persons who put people together. and number two, we have the great strength of innovation, technology. we find lots of solutions and people turn to us r solutions. so what does it mean to be chairman? how can we understand the will world? what can we learn from other countries? the question of identity, ladies and gentlemen, where we going be? how do we see each other 10 years from now? we have had democracy for six years? way to peaceful reunification 20 years ago. >> you look very interested they are. the third one. [speaking german] >> translator: icon for accented and yesterday i was in a big department store and i heard publicity jingle and it was a country that i understand. and it said a kanshi where people still count. as i said, i wasn a department store. what i do not wish for germans is that germany is going to be a country of consume

exports. now the united nations has come to see if the reef is being sacrificed for profit. >> it could be a case of death by 1000 cuts. these types of massive industrial development, and they literally are monsters, and you can see him from space. tens of millions of cubic meters of dredging. it will cut across critical habitats and nursery grounds. it could literally spell the end for many of these much-loved creatures and put at risk the values for which the world heritage area is one of our global icons. >> those building and using the port city are not a threat, including the main site at gladstone. >> this is somewhere that has an alimony and smelter and this is the other side of a busy industrial port. >> they say they are developing the port in a response away and creating thousands of jobs. elsewhere in australia and in the rest of the world, this is all a balancing act between getting the mining industry what it needs and protecting the environment. u.n.'s team final report could embarrass the australian government. bbc news, sidney. >> of bit earlier, we reported on the report -- the b

exports. now the united nations has come to see if the reef is being sacrificed for profit. >> it could be a case of death by 1000 cuts. these types of massive industrial development, and they literally are monsters, and you can see him from space. tens of millions of cubic meters of dredging. it will cut across critical habitats and nursery grounds. it could literally spell the end for many of these much-loved creatures and put at risk the values for which the world heritage area is one of our global icons. >> those building and using the port city are not a threat, including the main site at gladstone. >> this is somewhere that has an alimony and smelter and this is the other side of a busy industrial port. >> they say they are developing the port in a response away and creating thousands of jobs. elsewhere in australia and in the rest of the world, this is all a balancing act between getting the mining industry what it needs and protecting the environment. u.n.'s team final report could embarrass the australian government. bbc news, sidney. >> of bit earlier, we reported on the report -- the b

export markets and the country. international commerce officials are acknowledging its importance by joining forces with the port of baltimore. president obama's nationalt initiative kick off two years ago. baltimore has become a key element in getting there. the city's merchandise shipments totaled $5.2 billion. international trade secretary stop in town to sign agreements with business officials. he says it's important to increase trade and exports at the local and international levels as a way of maintaining baltimore's influential role and the import relations. a big surprise for of the 13- year-old this morning -- she was nominated for the honor after sheep raised money for lou gehrig's disease and gave money to a family affected by the disease. and she received a $5,000 check for the charity of your choice. she says it's easy to find a way to help. >> you just have to open your eyes. any thing you can do to help out as worth it. >> three others received the award and will have a check to give to their favorite charity. >> as the case against john leopold stacks up, one well- known judge will be taking charge. we have more route the judge and how

exports. now, the united nations has come to see if the reef is being sacrificed for profit. >> it could be a case of a huge impact on the area. these are massive industrial developments. they are monsters. you can see them from space. they are going to cut across those critical habitat. they will cut into the critics -- critical nursery grounds. it could spell the end for many of these creatures and put at risk of those buried values -- those very values. >> working harder in gladstone, this is the other side of a busy industrial port. >> the mining industry and the government of queensland say they are developing the port in a responsible way, and they are creating thousands of jobs. as elsewhere in australia and the world, this is about the balancing act between getting a benefit for the mining industry and protecting the environment. it is said that dredging is contaminated fish. the un's team final report could embarrass the australian government. duncan kennedy, bbc news in sydney. >> more than 10 years after the u.s. led invasion of afghanistan, women face a new threat. the country's m

pipeline to transport last century's energy source fossil fuels across our nation for export out of taxes and each time progressive and president obama push for new investments in green energy they are met with unanimous republican filibusters in the senate and outright rejection in the tea party controlled oil soaked house of representatives calls to invest invest invest are met with calls to drill baby drill and when it's pointed out that these investments are crucial to the prosperities of future generations the conservatives simply say oh we can't afford to make a better world for our kids scraw so how the hell can germany which is footing the bill to bail out the rest of europe before it the answer is because everyone is working together in germany. as peter terry of the c.e.o. of german second largest private energy company r w e said the german energy transformation is as challenging as the first moon landing it's a huge challenge will be able to master only if everyone works together that's coming from one of germany's biggest coal and oil barons we can only imagine what our natio

germany is a great economic nation, great export nation and a country is always the mediator of politicalnd how do other countries see us? i think there are two things we can be proud of. on the one hand, we solve problems in the world. we are the persons who put people together. and number two, we have the great strength of innovation, technology. we find lots of solutions and people turn to us for solutions. so what does it mean to be chairman? how can we understand the will world? what can we learn from other countries? the question of identity, ladies and gentlemen, where we going be? how do we see each other 10 years from now? we have had democracy for six years? way to peaceful reunification 20 years ago. >> you look very interested they are. the third one. [speaking german] >> translator: icon for accented and yesterday i was in a big department store and i heard publicity jingle and it was a country that i understand. and it said a kanshi where people still count. as i said, i was in a department store. what i do not wish for germans is that germany is going to be a country of con

periphery subsidizing this third class nations what in what way were they being the exports being subsidized by the surplus nations i don't know if i would look at their work you know you can make a case you can blame germany or you can blame greece and what we have here is both sides blaming each other since they're both right they're both guilty they both knowingly entered this. this arrangement knowing what would happen you know greece is saying oh you know we don't want to. or germany saying we don't want to be greece and then you know ok why aren't you going on that morning that you know. yeah exactly i'll agree but i'm more card i want to go on my part they kind of get to that and see what you think about it because it's dutch and german and that foreign asked that there's another interesting line in it basically attempts to show the loss that dutch and german citizens have book since entry into the euro as a result of their speculative investment in peripheral debt that prime paper is this another example of the effects of what you don't want to call subsidies but i guess what i'm cal

exports. the national export initiative has set an ambitious goal of doubling exports by the year 2015. which is right around the corner. if economic growth declines in the euro area, how we continue on a path to achieving the export goal with reduced european need? i'd don't think people understand how important it is for us here in the united states for our businesses, for our small businesses, certainly on long island, we do a lot of exporting. how do you see that future coming to a. >> you are absolutely right. europe does get exports from the united states. the effects come from a variety of different channels. if they grow more slowly, due to recession, then the things that american companies produce is reduced. it hurts us direct way. it does the imac. that means growth outside europe, that hurts the american exporters. as we've seen over the last 18 months, very painfully, we have seen stock prices fall around the world. that is very damaging to the competence of the world. the typical pattern has been when europe has been in crisis, this is a good sign of confidence in the unit

exports to europe, one of the nation's biggest trading partners. bernanke also warned that u.s. money market funds are vulnerable to europe's financial troubles. those funds have 35% of their holdings in european investments. and the fed chairman didn't mince words about what's at stake. >> were the situation in europe to take a severe turn for the worse, the u.s. financial sector would likely have to contend not only with problems stemming from its direct european exposures, but also from an array of broader market movements, including declines in global equity prices, increased credit costs and reduced availability of funding. >> susie: meanwhile, another top fed official said today that the nation's largest banks are still a threat to the u.s. economic stability. the head of the dallas federal reserve bank, richard fisher, said in his annual letter that the largest banks are still too big to fail. he called for them to be broken up over time. his comments weighed on financial stocks, pushing the dow lower. the blue chip average fell 45 points; the nasdaq held on to positive t

secretary of state condoleezza rice on education, national security and what her future holds and the nation's exportits funding. if not fixed it's going to have to cancel accounts and shut down. the director will be explaining what that means for jobs. plus the interior secretary ken salazar traveling with the we do have a lot of wet weather problems in areas of the lower portions of the united states, especially louisiana into arkansas and missouri. notice the east coast very warm today with the 80 degree temperatures all the way up through the great lakes. now we're finally warming up on the west coast, too. [ male announcer ] this one goes out to all the allergy muddlers. you know who you are. you can part a crowd, without saying a word. you have yet to master the quiet sneeze. you stash tissues like a squirrel stashes nuts. well, muddlers, muddle no more. try zyrtec®. it gives you powerful allergy relief. and zyrtec® is different than claritin® because zyrtec® starts working at hour 1 on the first day you take it. claritin® doesn't start working until hour 3. zyrtec®. love the air. two of the mo

. >>> for the first time since it was created back in 1934, 78 years ago, the nation's export/importfunding. if not fixed it will have to cancel future contracts and shart shutting down in a matter of weeks. the bank claims it is a jobs creator floating loans for companies that do business with the united states. republican leader mitch mcconnell himself explained his opposition is rooted in politics. the fact that this reauthorization for the bank was attached to the jobs bill. fred is director of the bank. you had republican support, democratic support. yet, because of the convoluted politics of now, and it was attached to the jobs bill and this involved what was happening on the house side, basically you lost this vote and to the surprise of senate democrats, it went down. even though the senate republicans really supported it, they switched their votes, voted against it. that's a mess. but what happens? what happens in the real world with an agency that is supposed to create jobs is going to have to lay people off if you don't get remorerized? >> andrea, we have an agency since 1

there injustices' seigneuries helm examples such as exporting goods at the national sporting the place that isn't here in this area at once and as a and that's the type of tenants we're looking for the plan is in criticized by groups like the sierra club instead of thinking outside the box with the retail giant's already in the area like best buy and wal-mart to neighbors and activists say the plan should have been incorporated office and residential. did we its auto oriented party lines project. by whatever stuff you need and get out. >>> developers are pressured to build a bridge. in the ends up project won approval because it will produce more tax revenues that the city desperately needs. >>> about 20 percent of our sales tax is leaks so to other communities. some were trying to counteract those retail sales. the city's those retells cells and that tax revenue now more than ever this project is moving forward and has been stalled for many years and is now moving forward and is breaking ground sometime this year and open to the public sometime in 2014. under mayor is thank you. >>> o

mocked the nuclear security summit by threatening both a missile launch and the export of its nuclear technology to other nations. in the bunker beneath the observation post, the president told the troops they were at freedom's frontier, defending democracy on the korean peninsula. the president sits down monday with china's leader hu jintao, and he'll try the persuade him to use china's leverage to get the north koreans not to go ahead with that missile launch. jeff? >> glor: bill plante in korea. bill, thank you. dick cheney has undergone a heart transplant. he's had five heart attacks and had the procedure on saturday at the age of 71. for more on this we're joined by medical correspondent dr. john lapook. jon, good evening to you. this happened yesterday. what is tick chain yes's immediate prognosis. >> we don't have a lot of information about his underlying condition. he's a little bit on the older side to be getting this, but in general about 15% of people are over the age of 56 who get this and five-year survival is about 70%, which is almost as good as the 75% everybody has. >> he was on the waiting list

was entitled towards an international arms trade treaty, establishing common nt national standard for the import, export and transfer of conventional arms. the u.n. is the first toe in the water, so to speak, on this, u. and the rest rugs called for them to seek views and if if this idea was even in august of 2008 and recommended that maybe the u.n. should dabble a little bit more. over 100 member states actually presented their views to the secretary general, which unheard of to have that high of a level of participation. the u.n. moved to the next phase, which was to develop an open ended working group that met in 2009. that open ended working group looked at the scope parameters and again the feasible of this idea. and after one year the johnson assembly again voted to begin actual negotiations on an arms trade treaty that will cull men eight in this conference in july of this year. but since 2010 the u.n. has engaged in preparatory committee meetings and these meetings held in 2010, 2011 and most recently in february really looked at the potential elements of a treaty, the scope of a treaty, what sh

what are the top findings of the report and the importance of the industry to the nation economically, financially for exports. >> well, those 1 million workers that work for the u.s. aerospace and defense industry drive $324 billion of sales for the companies that they work for. and they drive an $84 billion payroll, they pay $38 billion in taxes. and the numbers don't speak to all the contributions. this is an industry that punches well above its weight given the contributions it makes to many other areas, including national defense, safety efficient air travel and so forth. >> and just technologically more across the board. >> the science and technology, the contributions that are made to med sition and to material sciences and others has gone beyond. >> cord, let me take you to something that aia has been warning for a while about a million jobs that will be lost. on the one hand the survey finds 1 million direct jobs and then you guys are talking about a million jobs being lost which obviously would be everybody in the sector. when you guys talk about a million jobs, what are you talking about? >> the on

exports shrank as germany's grew. we sold more to ireland than to brazil, russia, india and china put together. that was the road to britain's economic irrelevance, and we want to double our nation's exports to one trillion pounds this decade. so we're expanding u.k. export finance and setting out new plans to help smaller firms in new markets. exports abroad must be accompanied by investment at home. britain has a reputation as a remarkably open and welcoming place for investment. we must never allow protectionist rhetoric to creep into our political system. >> here, here! >> instead, we're actively seeking investment from overseas pension and sovereign wealth funds and working to develop london as a new offshore market for the chinese currency. we also want investment from british pension funds and british infrastructure, and we're now working with a dozen of the large pension pension schemes specifically on that. we're the first british government to set out a national infrastructure plan the projects we're going to prior toize in the -- prioritize in the coming decade. the roads, railways, broadband networks we all need and we have identified. i also believe this country must

. >> and i understand that the bilateral treaty we have on the most favored nation status only applies to exports and goods, is that correct? >> correct. >> so even -- even with our bilateral agreement if we don't pass the pntr, that doesn't deal with it because the largest trade gains are probably going to be in services, isn't that correct? >> also correct. >> and the only way we open that is up to lift jackson vanic? >> correct. >> because which is incidentally, i'd say to my colleagues, we ought to do what we say we're going to do. about immigration. every president has signed off that, you know, since it went into effect in 1974 that they're dealing with immigration. we did it in order to allow the immigration of soviet jews. that happened and it's happening. we send a terrible message as we try to negotiate with people and pull things out and police apply them and counterimply them. we don't have any protection under the bilateral agreement, do we? on intellectual property rights, i think mr. williams spoke to that and the dispute settlement process at wto at least gives us that kind of pro

exports shrank as germany's grew. we sold more to ireland than to brazil, russia, india and china put together. that was the road to britain's economic irrelevance, and we want to double our nation's exports to one trillion pounds this decade. so we're expanding u.k. export finance and setting out new plans to help smaller firms in new markets. exports abroad must be accompanied by investment at home. britain has a reputation as a remarkably open and welcoming place for investment. we must never allow protectionist rhetoric to creep into our political system. >> here, here! >> instead, we're actively seeking investment from overseas pension and sovereign wealth funds and working to develop london as a new offshore market for the chinese currency. we also want investment from british pension funds and british infrastructure, and we're now working with a dozen of the large pension pension schemes specifically on that. we're the first british government to set out a national infrastructure plan the projects we're going to prior toize in the -- prioritize in the coming decade. the roads, railways, broadband networks we all need and we have identified. i also believe this country must

energy exporter and our nationalnergy he's talking about is gasoline and diesel. so, we're bringing in $120 opec oil. we are refining it, and sending it back out. they're getting that back out into the global market. so, i can tell him one thing that exporting gasoline and diesel out of the united states runs up the price of gasoline and diesel in the united states. so, it's, you know, i don't know whether they understand or not. but it's not difficult to understand if you just spend an afternoon on it you'd be surprised how much you can learn. >> hey, boone, there's news this morning chesapeake energy doing a joint venture with kkr, they're spending $250 million to start buying up mineral and royalty interests in u.s. oil and gas space. you are starting to see this as a trend, black stone group did something similar just a couple weeks ago. what do you make of this? >> it's another way to make money because natural gas is so cheap. you have to know that when you have beijing natural gas $16, mideast $15, you're at $