russia needs exxon's expertise. 40% of the federal budget comes from oil. but more of russia's oil deposits are offshore in the arctic. it is rich with billions in untapped resources. russia needs company like exxon to build the cold weather offshore rigs that can extract them. a meltic arctic is unleashing a wave of competition of those looking to cash in. >> reporter: it's a race for riches in the arctic circle. once a frozen expanse today the region is melting at an unprecedented rate. according to the united nations the polar ice gap retreated about 40% since twep, and with the thaw comes access to billions, trillions and untouched resources. the arctic holds a third of the undiscovered gas, and 13% of crude oil. most of it is offshore. in april russia jumped to the head of the race, shipping a first tanker from gazprom off the russian coast. shell, chevron and exxonmobile hope to follow, spending billions in offshore leases. china is jumping into the race with the oil company winning a bid to explore the waters near iceland. the arctic promises more th

three houses were so badly damaged exxon not them down. most sat empty. even after an accident, this could be a long shot. if you look at the polls, two thirds of americans do support the keystone pipeline, and that number hasn't budged. it seems you are a minority. >> i think this is a topic in which people don't understand what it is, and it is always presented as we do this or we do nothing. that's absolutely not true. we are not going to run the society without energy. it's just how you think about it. >> he says the biggest issue is how oil is recovered from the canadian countryside. 20% of the oil is mixed in sandy soil lying just beneath the surface. it is spun in centrifuges to separate the oil from the dirt. 80% is trapped hundreds of feet below solid rock. steam is injected to loosen the oil. it must then be mixed with chemicals to make it flow to the pipeline. this requires 70% more to extract than traditional oil. >> tom steyer claims money didn't motivate him, but he is incredibly good at making it. the company has a market value of $4 billio

companies like exxon or chinese national petroleum corporation comes in.you need to partner on those offshore developments and that's where the tricky operations will come in that rossneft does not have the capabilities to develop arctic abilities themselves. >> why does not russia have these abilities? they are the moss available to the arctic. >> you are absolutely right. but the first offshore development was started last summer by gazprom, and the one further offshore is just a few kilometers offshore. this is about 80 miles offshore. you're looking for very harsh conditions. you have to build ice hardened areas a time in june and november, where there's not much ice and then in the rest of the year very ice hardened, harsh conditions, negative 30, 40°, ice that is six, eight feet thick and so that is very new technology. >> the issue with respect to the arctic is not just oil and gas. the arctic has become particularly with some melting has become a target for everybody, including the chinese, with no particular arctic claim. >> you're absolutely righ

if the sanctions continue this deal with exxon mobile is grandfathered because it was inked in 2011.s russia have the ability to extend it and do more with ex-on the mobile in the fashion of sanctions? >> well, i think in the short-term they should be fine. they have quite a substantial number of cash on hand. they signed a few deals, ideal earlier this year with the chinese national petroleum corporation and they have credit line as well. so i think in the short-term they should be fine. but you are right, if these sanctions should last more than a few months or two to three years, i think they could look -- arctic developments could take a hit and slow down stan shaly. >> the only hankse hankses are n financing, am i right? there is nothing he is that prevents russian explorers and developers from continues something. >> yeah, there are two aspects. financing is one aspect and we have the technology as well, as you mentioned we are going in to the arctic, going offshore, that's quite an advanced technological needs right there. that's where companies like exxon and chinese national

and russia wants exxon because t they believe exxon can bring something that russia does not have or russia needs more of. >> the relationship also gives rosnept a foothold in the west with exploration rights in the gulf of mexico. oil and gas are a lynchpin of russian power. the exxonmobil deals are enhancing regardless of u.s. foreign policy objections. exxon sends a message loud and clear. we are not representing the u.s. government. we could disagree on some policies and everything else. we are here to do business. >> according to the private empire, exxonmobil and american power, the company's former ceo once said quote, i don't make decisions based upon what's good for the u.s. but if moscow were to bar western energy companies from russian territory, exxonmobil wouldn't necessarily lose out. >> let's say this crisis gets worse. >> means there is more pressure on energy markets, which means higher prices, which means more revenue for exxon. >> patricia sabga, al jazeera, new york. >>> today's developments come in the face of tougher sanctions imposed late last month on russia b

so exxon mobil introduced us to clinton global initiative. to that we made connections with other programs at the state department were working with the global alliance for clean cook stoves on approved cooking initiative. so the ripple effect, that change creates matters more than individual part. at third, capacity building, again the leadership program that noa mentioned about our country program coordinator from uganda have participated in the past and a happy to say that our tanzania coordinator will be going to the leadership training in cape town very soon. so really investing in our people and investing in people in africa. we need this to be driven locally and create that pie plate of talent locally. so that has been great. and t the exxon mobil we have ao partner with international center to do monitoring and evaluation to great feedbacks we can improve our operations. and, finally, with the school of business they would again and build the very first blueprint of our training program with women in uganda. through that program we go

noa, let's dig deeper into exxon mobil's work in this space. you are investing in basically supporting programs to provide skills, skills training and utilizing technology to empower and support women in agriculture and in business. how we understand why exxon mobil is doing this, and really give me a sense of how you make sure these partnerships are effective. .. >> >> and find other partners. so i have a couple of examples when i say helped do develop the capacity of a local organization. next month we will bring 26 women from all over africa to be a part of a month-long global whitman id management trading. they will leave that with the plan how to strengthen the local organization to better serve their women but also a network of 25 appears the has impact to call on people with similar experiences and to send a and ba projects out so it helps them with the performance indicators. so by providing this capacity we can see how these organizations help women. and i promise those you will find it very easy to use to will. then with those private

exxon, chevron are some of the ones having the most impact.ack over to you guys. >>> one sector etf is higher on my screens by a scant, what, 0.2. iyz, the dow jones telecom indecent, those names of dividend payers, so people coming into where they can get some relatively safe income. that's pretty much the only green on my green. screen. >>> outside of this, we'll have full market coverage, but there is other stuff happening, the second known american infected with ebola arrived in atlanta about one hour ago. separately two people, one in new york, the other in columbus, ohio are being tested for ebola. that's key. no confirmation, after exhibiting symptoms of the virus. hospital officials in new york do add it is unlikely the patient there has ebola. >> so if more patients are being brought into america for treatment, are u.s. hospitals prepared? we're joining us now dr. peter hortense from baylor college of medicine. it's great to have you with us. it's a scary disease, because there is no specific treatment, there is no cure and currently

the giants from russia and america have begun a joint project to explore the arctic rolls nafta and exxon mobil will be using a giant rig to drill the first well in the program that will be russia's most northern platform covered with thick ice for most of the sea where the two will be operating is up to three hundred fifty meters deep but underneath all of that is an estimated six billion tons of extractable oil belongs to the west siberia problems which already provides russia with most of its oil and gas president putin has praised the problematic approach of exxon mobil which is hoping for long term corp keep the boy filled of the center for policy studies think tank believes that despite sanctions this has the potential to become a successful example of international teamwork. this particular project they've been working on it for several years. mobility already invested many many millions of dollars they could do with the oil and they're going to have the sanctions do not apply to this particular project because the deal was already signed the russian state oil company has a twenty

oil giants from russia and america have launched a joint project to explore the arctic rosneft and exxon mobil are using a giant rig owned by norwegian company north atlantic drilling to work on an oil well that's the most northern in russia during a teleconference the mark the launch for the emir putin had words of praise for america's exxon mobil and its cooperation in the projects sound russian companies have expressed their long term commitment. but if the potential resources in this project can be compared with the biggest reserves in saudi arabia and are much bigger than the resources of the mexican goal of alaska or canada so we're paying special attention. for the most on your skin the platform is located far out on the open sea so there is a multi level system of security here and we're using the latest technology. and the sea where the two will be operating is covered with thick ice for most of the year but underneath is an estimated six billion tons of extractable oil it belongs to the west siberia province which already provides russia with most of its oil and gas platform is

spin mode bill exxon are really looking to buy new sources of hydrocarbons so they really need this and they've already invested a considerable amount of money so they'd have to write that off if things didn't go ahead so i think in that respect prospects are relatively optimistic let's check out what we've lined up for you right now with our two dot com you can learn how cancer patients in the u.k. are losing the battle for life while drugs producers and hospitals continue to lock horns over purchasing conditions. plus internet bullying is a trend among today's teens but apparently one youngster has found a way to fight back and find out what's in her tool box at r t dot com. right. first street. and i think you're. going to. be in the. thanks for joining us at least five palestinians are reportedly being killed in gaza on saturday a day after the fragile cease fire with hamas crumbled though there's another battle tell of eva's fighting this time it's actually inside its own borders aimed against those daring to speak out against tel of eve's offensive as artie's policy . the war goin

during a teleconference shot at the launch of let me read to had a word of praise of for america's exxon mobil and its cooperation in the project both u.s. and russian companies have expressed their long term commitment which will. start in your book but what if their attention resources in this project can be compared with the biggest reserves in saudi arabia and are much bigger than the resources of the mexican goes along. ask canada so we're paying special attention. of the road on your street that would look like from is located far out on the open sea so there is a multi-level system of security here and reducing the lead to stick knowledge of. the sea where the two will be operating is covered with think eyes for most of the year but underneath is an estimated six billion tons of extractable oil it belongs to the west siberian province which already provides russia with most of its oil and gas now the platform is capable of drilling down seven kilometers keep the boy filled out of the center for policy studies think tank believes is spied thank sions this it will be as the feds for

exxon any hotel now. would probably be the company that is most exposed to russia not because it has about twenty percent stake in after we know the c.e.o. of the companies already on that side in this. so for more details on all of this we do know that president barack obama he did say he wants these sanctions to bite we're not going to find out if they would do that and the question is how hard of course we must understand that this sanctions. will be very serious not only for some companies also for european companies and of course for american companies and we can say that maybe for example to projects they're more for foreign companies like exxon mobil it's also important for russia we can stop the exploration of.

. >> likes exxon? >> exxon is under pressure. it would have been under more pressure if, help me, his name, warren. and buffet. warren buffet made that call on exxon mobile. that's why it was helped. it would have been much lower at this spot if he didn't take a stake. >> did you feed any help? >> no. apple is not the only company to benefit from the release. find out which retailer can see relief. next, which oil and gas play was lightened up pete najerian's options radar today? we got the name later on. [ music playing ] . welcome back to "fast money" while everyone is locking at apple after the iphone 6 release. the retail fame could be the big winner. following your medicine, we will introduce you to the company making big waves in the digital health world. plus, see through pants, a thing of the past. one trader is making a bullish bet on lulu little on. first the s&p 500, we have given you your picks for stocks to buy, now, let's go around the horn and get the stocks to sell, tim, what would you sell xlu. i read this questi

exxon any hotel now be paid would probably be the company that is most exposed to russia not because it has about twenty percent stake in a rough sector we know the c.e.o. of the companies already on that station if you go searching for more details on all of this we do know that president barack obama he did say he wants these sanctions to bite we're not going to find out if they would do that and the question is how hard of course we must understand that these sanctions. will be very serious not only for some companies also for european companies and of course for american companies and we can say that maybe our for example to projects they're more for foreign companies like exxon mobil it's also important for russia we can stop the exploration of the arctic and can return to this question forty fifty years later it's not the question of today's situation there is no necessity . for actually more bill it's much more important so that is why in my opinion then when we get him some of these sanctions will be russian companies but of course well before the companies. ok now time for c

russian on american oil giants have launched a joint project to explore the arctic rosneft on exxon mobil are using a huge rig owned by a norwegian company north atlantic drilling to work on the most northern oil well in russia russian president vladimir putin speaking during a tele conference to mark the launch complimented some erika's exxon mobile on its cooperation and project the u.s. and russian companies have both expressed their long term commitment to the joint venture. but what if the potential resources in this project can be compared with the biggest reserves in saudi arabia and much bigger than. the resources of the mexican gold alaska canada so we're paying special attention. for the most on your skin from is located far out on the open sea so there's a multi-level system of security here and we're using the lead to stick knowledge in. the water speech swear the companies operate is covered but thick ice for most of the year but underneath is an estimated six billion tons of extractable oil it belongs to the west side period province which already provides russia with most o

but despite sanctions exxon has started a new energy proin ject in russia. today's question -- if you were an energy executive, where would you rather drill? iraq or russia? log on to cnbc.com/vote, and tell us what you think. we'll pose that very same question for carl larry, president of oil outlooks and opinions, joining us from houston. welcome back. >>> outline the risks in each one of them and which you think would be more beneficial for a company. >> well, i'll start with iraq, because i don't think that is the one that people should be invested in. the deal there is even though it might be a bit cheaper to go there and bring oil out, the problem is oil is always a risk, not just your staff and people, but there's always pipeline explosions, always attacks, and we don't know where that government is going right now. there's a lot of high risk, to the people, to the production, and obviously to the government itself, but in russia. >> let's turn to russia. it has a storied past when it comes to businesses, their own businesses and sore what are the ris

other countries have an exxon mobil partnership because we don't want to jeopardize that.veryone has a deal going on in this regime was built up on raising oil and gas revenues by taking over companies that were privatized. neil: and then having these international deals legitimized it. >> they went bankrupt because they couldn't afford to run these other satellite countries is not going to make that mistake again when he's raising the revenues of the states they can do this again. >> i have talked oil executives and russian backed laments and to understand vladimir putin, you have to understand that the 1998 default was incredibly embarrassing. not just taking over oil companies, but he wants to be a superpower. remarkably embarrassing. russia now wants to be known as an energy superpower taking over entire countries and ukraine in crimea, potential shale deposits there, they went to war in georgia to up the hype i'm from central asia into europe. so that is why you see people in europe that understand this. so the sanctions don't even cover this. and the extensions are n

three houses were so badly damaged, exxon knocked them down. most sat empty. even after an accident like the one in mayflower, defeating keystone could be a long shot for steyer. if you look at the polls, 2/3 of americans do support the keystone pipeline, and that number hasn't budged in the last two years. >> it really hasn't. >> seems like you're in a minority there. >> i think that this is a topic in which people, a, don't really understand what it is and b, it's always presented either we do this or we do nothing. that's absolutely not true. we are not going to run the society without energy. it's just a question of how we think about it. >> but keystone is just part of the problem. steyer says the bigger climate issue is how tar sands oil is recovered from the canadian countryside. 20% of the oil is mixed in sandy soil lying just below the surface and is strip mined and spun in centrifuges to separate the oil from the dirt. the remaining 80% is trapped hundreds of feet below solid rock. steam is injected underground to loosen the oil and it is pumped out.

actor exxon mobil. >> exxon mobil saying their production fell close to six percent year on year. that is a big problem. you saw the share price really react to that. counters supposed to this production. this is really the achilles heel of all the big oil producers. we are interested because it is teaming up with the biggest publicly traded oil producer by volume they are moving on this which is billed as the most important of 2014. they are hoping there is a lot of oil. you have that you banning some -- the eu banning some. they had positive news maybe there shares would it have fallen so much. >> it is fascinating russia is increasing manufacturing. production in ukraine picked up in the second quarter as well. understanding a little more what happened on the video conference between the big french, german, and italian leaders. >> they were on that conference call last week. we learned they are going to pressure the world bank to cut funding for russia. that is money russia can kiss goodbye and terms of project funding. seen curtailing of russia. is the biggest monthly decline

history, behind exxon's $74.5 billion purchase of mobil in 1999. the consolidation will put the energy partners and management and el paso pipeline under the kinder morgan ink umbrella, bringing together 80,000 miles of oil and gas pipeline. to do this, the company is abandoning the massive partnership structure associated with some of its businesses. putting assets into a single c corporation. >> first and foremost, i think the simplification of four entities going into one. also, you had this c corp. and three mlp's, you're going to have one entity, and i think it's going to be a great way to play the energy renaissance going-forward. >> they've become very popular in the energy sector because of their tax advantages and high dividends. richard kinder considered a pioneer, says his partnerships have gotten too big to make significant investments and maintain growth. he says the c corporation will lower the cost of capital and result in tax savings. >> you put all that together and we think this is a recipe for us being able to do lots of capitol

is this t this is the exxon station on ridge road.e're continuing to stay on top of the story and will bring you any new information when we learn it. >> and melissa mollet is also tracking breaking news on the bw parkway. >> is ththis is authority boun . a bad traffic. it will be some time as they reconstruct things there. so lots of people being pushed off on to 3 # 2. alternate 95 or route 1. slow top of the beltway. 66 typically slow. an upclon upclosp up top throug major issues. red line single tracking. >>> and commuters are running in to patchy metro area. the visibility under a quarter of a mile east of the blue ridge. but elsewhere, really don't have any thick fog around the metro area. down to a quarter mile in martinsburg. and temperatures will be rising today. county by county forecast, prince george's county, montgomery, fairfax, low to mid-80s. just delightful. and low humidity will be around all across northern virginia with high there is low to mid-80s. lots of sun, have your sunglasses handy. and southern maryland, to

exxon managed to earn $9 billion in the quarter, $9 billion in three months and the revenue, $111 billion. >>> the french low cost company illid made a $15 billion cash offer for more than half of t-mobile today. in the meantime, t-mobile turned the first net profit and signed up another 1.5 million customers. morgan brennan has more on what this all means. >> reporter: america's fourth largest wireless provider has been shaking up the industry, aggressively slashing prices to spark competition with larger u.s. rivals, sprint, at&t and verizon. so far, the plan seems to be working. t-mobile continues to add monthly wireless subscribers and now, it's attracting potential buyers. >> we've always said in the long term scale is extremely important. i have to point out we have multiple options to create long-term scale for this company, one of which is been long rumors and one possibility. >> reporter: multiple options is right. while it's widely believed sprint could put a bid in, another company beat it to the punch. today a company confirmed the $15 billion offer for majority stake sending

with ke start with any news on exxon? it seemed jarring against the backdrop of increasing sanctions, troops along the border with ukraine, tough talk from nato. there's putin praising the biggest u.s. oil company, one of the biggest u.s. companies out there. >> well, at this point, putin is desperate for any kind of western investment, and particularly investment in the oil industry, because most companies don't want to get caught up with sanctions. and so, to the extent that exxon is still persevering in russia after all that's happened, he's got to go and publicly, you know, pat him on the back, which is what he did with this whole story today. >> you know, you maintain, bill, that putin's end game here is self preservation. explain your thinking there. >> well, so, the story behind putin is that for about 12 years, he's run what's been acknowledged as a cleptocratic regime, stealing from the estate at the expense of the people. people started getting angry about that around 2008. and by 2012, there was hundreds of tho

camera crews and my british television crew that it was exxon not katrina that drowned the city they not only fired dr volunteered but they believe she and a closed its hurricane center now think about louisiana closed it's irking centered because the experts were fingering the oil industry you don't hammer it so louisiana will never going to have a hurricane again anymore because the oil companies will take care of us or something i'd say well that's not our egg greg we just have about a minute half i want to play a quick quick clip from an ad that's all over cable news if there is saturation bombing washington d.c. with this check this out. after numerous court rulings ordering argentina to pay its bondholders the argentine government instead chose to the falls more than sixty one thousand bondholders haven't been paid one penny argentina and its lawyers call these people quote vultures and speculators need some of these so-called vultures linda haiti to purchase bonds to take care of her ninety seven year old father you want to show calm down i point out what he really that is a f

the head of exxon was there. great.id this was they are spending $700 million to see if there is any oil there. aty will not know that for least 70 days. for the likes of bp, who has a 20% stake, it is now the most controversial. i thought there were sanctions to prevent them from ratcheting up their oil supply, and what is interesting here, perhaps this shows that the sanctions might be more toothless than we thought. the drilling equipment that they are using, and drills to a depth of about 240 feet. wereestrictions that imposed last week applies to depths of 500 feet and greater. was this just rhetoric from the european union? >> thank you very much for that. let's cross from the russian and iraqi soil to gaza and israel. hamas militants have begun another 72 hour cease-fire. time to putotiators a lasting deal in place. david joins us from tel aviv. what needs to happen before a cease-fire? he for this cease-fire expires again? sides are steadfast in what their demand's are from the cease-fire and talks and wh

up, vladimir putin gushes over exxon after giving the u.s.ny the ok to start an oil well in the arctic. another note, rory mcelroy is on fire, winning the pga championship weeks after take home the hardware at the british open. he has been dominating the golf world. can he replace tiger woods? you are watching "in the loop." ♪ >> about 30 minutes away from the opening bell. you are "in the loop." futures indicates stocks will be higher at the open. the s&p coming off its best day in five months. john kerry says the u.s. is withdrawing support from iraq's prime minister, nouri al-maliki. toiki is resisting pressure make the government more inclusive. the new ceo of sprint against work, marcelo claure -- the new ceo of sprint begins work, oncelo claure will setake at&t and verizon when it comes to price cuts. a $700 million oil well. rosneft will begin drilling there. ryan chilcote is in london. why is this well such a big deal? ordinary well. not everyone spends $700 million on an extraordinary well that they do not know will yield oil. they w

leading the way lower for the dow, intel followed by chevron, exxon mobil, and then health care, ibm, all these large caps helping to propel the dow to the lower side of things. >>> a developing story from afghanistan, a gunman dressed in an afghan military uniform opened fire at a military training facility in kabul. he killed three people, including an american general. he's believed to be the highest ranking american military office to be killed in action since the vietnam war. a high-ranking german officer was also killed along with the gunman and 14 orders were wounded. sue? >> ty, nancy writebol, the american missionary has just arrived at emory university hospital in atlanta. she joins dr. content brantly who arrived on saturday. british airways announced it is spanneding flights two and from liberia and sierra leone until august 31st due to the deteriorating health situation in both those countries. >>> very interesting segment coming up, one company hoping to fight in the war and helping already in the war against ebola. is the disinfection services. it makes a germ-zapping r

history behand exxon's purchase of mobil. they're putting all of its assets into a single c corporation. mlps have become very popular because of the tax advantages and high dividends, but the founder says his businesses have gotten too big to make significant invest. >> you pull ought that together and we think this is a recipe for us being able to do lots of capital projects and lots of potential acquisitions that we simply couldn't do until the old structure. it allowed them to move to -- and continue hiking it to 10% annually through 2020. as for the potential acquisitions analysts say the company will be able to acquire all kinds of energy assets, not just infrastructure. and will be raising its dividends for year to come. that's why when you take a look at the stock, that's up about 10% and why kmp, kmr are all up, depending on the stock and higher. kinder morgan brennan, sit update for a second. >> we don't know, but we do like to do work for you here on "street signs." here are two lists. first, the biggest mlps by ma

not the only ones of fault the real culprits behind the katrina tragedy are big oil companies like exxon chevron and shell joining me now to explain how and why is greg palast investigative reporter for the b.b.c. in the guardian and author of numerous books including his latest billionaires in ballot bandits how to steal an election in nine easy steps greg palast welcome back greg. but fear if you time great to see you great to see again my friend break it down for us why is a big oil to blame for katrina ok it wasn't an act of god. in the drowning of new war don't blame the lady katrina she headed thirty five miles east of the city the storm the hurricane never hit new orleans but it new orleans was a surge of water how did it get there well the answer is it wasn't an act of god it was an act of exxon an act of chevron an act of mold and what they've done is that over decades these companies had been grinding up the wetlands ethe or katrina in the hurricane and hit new orleans and had a gold record of needles of maine growth forest nearly one hundred miles thick so to storms generally

share and tolerance exist within muslims themselves well to discuss that i'm now joined by a militant exxon a little secretary-general of the organization of islamic call peroration misters on the welcome to moscow as far as i understand the concept of the people of islam the kony community of islam is central to qur'an but when you look at what is happening across the middle muslims killing muslims more than followers of any other religion. you know it's really difficult to understand what is actually man by by the and whether there is indeed unity among muslims is there anything more to this concept than just a religious matter for a mommy is belonging to the same community this is a feeling that every muslim. experience when you hear the call to prayer you feel that you will belong to the same but politically today what we are going through is a special case that this extremists this violent groups there are groups who are using islam. and certain them petitions or wrong it all yourself into petitions. by misquoting the koran and other religious doctrines for their political agendas this