is exxon liable for returning the environment to a near pristine condition, and will exxon be asked to foot part of the bill? >> yes. exxon has been spending millions of dollars a day. we are talking about additional support from exxon, and administrator riley has been discussing with them, the need to be stored for the environment, and number one, they are liability, and they have acknowledged liability, and working with us in putting the funds available to restore, and recover and to repair and all of that is going on a concerted basis with the coast guard. >> let me follow up. when you were here last week, mr. riley said that he had mentioned to exxon the added request of cleaning up the beaches, and doing the extra work to get it to a more natural state and as i recall their response to you was that it was an interesting idea. can you tell us -- >> no, what you are referring to is that they considered establishing a fund for alaskan conversation, and provide monies for future ecological restoration. that is a different matter from the cleanup itself in which they have invested some

condition and will exxon be asked a foot part of the bell for the federal offer. >> exxon has already been spending millions of dollars a day, we are talking about additional support from exxon and administrator reilly has been discussing with them the office that need to be made to restore the environment, so number one, near liable, they'd knowledge liability, they are working with us including funds available to restore, to recover and to repair, and all of that is going on a concerted basis with the coast guard. >> when you were here last week, asked a rally said he mentioned to exxon that they should take on the honored responsibility of cleaning up the beaches and doing the extra work to get it to a more natural state and the side as i recall their response to u.s. thought it was an interesting idea. what >> i suggested that you are referring to is that they consider establishing a fund for lasting conservation that will go well beyond this immediate period and provide monies for future ecological restoration efforts, that is a different matter from the cleanup it's all in which

and then as a president of the exxon shipping company, who reports to a senior vice president of exxon usa, who reports to the president of that. . these -- we reel have management committees at the level of exxon usa. we have management committees in new york. and then the president of that company would report to me. now i don't know how many levels that is, and -- >> well i want very earnestly to make a suggestion to you, mr. rawl. whatever the success of exxon in the past, it now has the dubious distinction of having caused one of the most severe and perhaps the severe mad man disaster environmental disaster in our history. we are constantly comparing ourselves in this country, sometimes unfavorably, sometimes i may say unfairly, with the japanese. as i understand their corporate structure, when something like this happens, everyone takes responsibility from the individual who was directly in c cause of it up to the ceo, and everyone offers his resignation at that point so that a new team can take over and restore the credibility of the corporation. i suggest the disaster that your

with exxon, on scene in alaska. and if it's necessary i will go up their myself and take that up the way it ought to be. >> i think the governor has been more specific, he refers to that section of federal regulation section 300, and that gives a specific authority to call on the nation. >> as other clean water? act will the government has asked for that once and backed away from, it it's not my understanding that he is asked for it again this morning, he's asked for it. >> we have the, letter we can give you a copy of the letter. >> what's the date on? it >> april 5th. i've gotten an 8:00 last night. >> you have better mail service than i have within d.c.. >> yes sir. well we will get this letter to. you >> yes sir. >> when you say at the law, of alaskan oil can only move in u.s. flagged vessels and then you say that so many vessels have gone to valdez. >> yes there are nine form vessels on the train, all of them terminate at st. roy, it has a u.s. refinery, but not u.s. territory. let me again say that i am not pr

i tell my imaginary senator how back in july 1977, james black, a senior scientist at exxon told exxon's management committee that the burning of fossil fuel was influencing global climate , that doubling co2 gases in the atmosphere would increase global temperatures by two or three degrees, and that mankind had a small window of five to ten years before they would have to make hard decisions about new ways to get energy. wxxon new 40 years ago -- kne 40 years ago. i tell my listener that a decade later the fossil fuel industry scientists told them that the warming effects of their carbon emissions could double even earlier than previously predicted, causing ecological calamities such as the disintegration of the west antarctic ice sheets that would inundate entire low-lying countries and would cause the disappearance of specific ecosystems, destructive flooding , and inundation of low-lying farmlands, and that new sources of fresh water would be required , and that global changes in air temperature would quote drastically change the way people live and work, and that the changes may be

what about exxon mobile. let's take exxon mobile. >> i'll say that i mean, to me, exxon is an obvious name to choose we don't own it. we would rather play, what we call the pipelines like a kinder morgan or a targa or a viper energy, which actually they take a cut off the top line and they own anchorage and they have really nice dividends and they're going to, like a viper energy isn't going to be susceptible to the price of oil because they're taking it off the top line we would rather own the smaller names than an exxon or a bp. we think that gives us more upside and a better dividend >> josh, take this list on not including disney i know where the view is on disney take citi or any of the other names. >> thinking back on this year, disney is one of the few ideas that the desk universally loved early in the year, got involved with i think we as a show did a really good job on that name can't say that for every name. i think we covered that to death. i think tyson is really inest thering. this is a stock tha

the senate committee heard from exxon's chairman as well as the the coast guard who led the response. you'll see questions from committee members ted stevens of alaska and massachusetts senator john kerry. this portion is a little over two hours.

two weeks later the senate commerce committee heard from exxon's chairman as well as the coast guard- and he'll also see committee members ted stephens of alaska and john kerry. >> this portion of the hearing is a little over two hours. >> are you ready for me, mr. chairman? >> yes, mr. roll, we have you on speaker, and it will be included in the

if you kmar compare right now chevron with exxon -- by the way i sold exxon to buy chevron. why? of it has to do with the team he built over the years, streamlining the operation, being more efficient, taking in revenues but making more of the earnings than xlm right now. they trade fundamentally a inexpensive. looking at 16 ob 17 pe versus exxon trading higher you do get a dividend yield about 4% with exxon about 5% this is what i like about the company. looking at the chart, the reason why the chart looks the way it does in terms of from being down here even 115 it's been moving here to the upside now has it made a huge move this year, year to date depends on where you want to start. right here where it was, right here where it was. where do you want to start in this is a company i think is strong they can navigate and the shale play is something that's big for them going forward >> does anyone have questions for professor pete. >> my question would be the fact that they ratcheted down the commodity prices does that concern you or are they sand bagging. >> sandbagging and also

exxon. the germans came into romania and the nazi supervising regime put him in jail. my father worked for the ss from prison. he faced a firing squad but received a last-minute reprieve. anyway we all survived the war. we got together in '45. i was six years old. my brother, myself, my parents. normal, wonderful family life. i learned how to ride a bike from my father. a year full of joy and happiness. and then in early '47 my father goes to new york and for what was to be a two week sort of major worldwide managers meeting of exxon. and they go but just at the time, the communists took over. david: the iron curtain essentially fell. peter: the iron curtain comes down at that moment and it is an iron curtain as we know because that's how socialism work. total control. while in new york, my father's friends from war days who started the cia by now tells them in romania the communists have my father, mother on a list to be arrested and exterminated. so they convinced them to stay in new york. lucky for all of us because in fact during that period in the early communist

this verdict that we got ends a four-year saga, actually, for exxon mobil.he new york attorney general's office alleging that they had misled investors about the true cost of climate change, but the key here is that exxon mobil was found not guilty in this case, and it was dismissed with prejudice, which means that the case cannot be brought again on these facts in new york. and this is an important case because of course exxon mobil is the united states's largest oil company. very big decision there. >> live from london for us, thank you. >>> coming up next, a look at the 1 big thing from "axios." democrats charge the president with abuse of power. we're going to lay out the next steps that's likely to have the president impeached before christmas. >>> and backlash against william barr for mischaracterizing and lying about the report on the russia probe. "morning joe" is just moments away. ♪ everybody... with low prices and free shipping on millions of items at amazon. ♪ i suffered with psoriasis i felt gross. people were afraid i was contagious. i was cove

exxon is not commenting. that is your business flash update.up, british voters heading to the polls. we discussed the u.k. general election next with heather conley from the center for strategic and international. this is bloomberg. ♪ this is bloomberg. ♪ beyond the routine checkups. beyond the not-so-routine cases. comcast business is helping doctors provide care in whole new ways. all working with a new generation of technologies powered by our gig-speed network. because beyond technology... there is human ingenuity. every day, comcast business is helping businesses go beyond the expected. to do the extraordinary. take your business beyond. bloomberg first word news. president trump, a setback on his effort to build a wall on the u.s. border with mexico. a federal judge in oakland, california, has barred the president from using military construction funds to build the wall. the judge ruled he illegally circumvented congress. the united nations secretary-general antonio guterres said today that the world "will pay an unbearable price if nothi

that's why you see that the exxon shares are not having a big run. in fact they ended up a little bit down, more actions, class action suits coming in massachusetts, texas, and new jersey. we'll see how those go, but for right now, it's going to be a lot of happy people in the boardroom at exxon. back to you. >> gerri thank you very much. breaking his silence on the peloton controversy ceo john fol ey invaded questions about the company's ad, some critics called it sexist and he said " that was last week. we don't have to do much in order to become one of the great consumer companies of the next couple of decades." the actor, by the way, who played the husband in that ad telling fox business earlier about the backlash. >> its been a little bit bad in the sense i've been receiving some hurtful messages, and i just really don't appreciate it, because when i watch the commercial, i just don't see it. i don't see these sexist allegations that people are talking about. >> gary i need to know do you have a bike? did you ask santa for one? >> i do not have

alix: it has shone a huge spotlight on exxon. it is only taking a $2.5 billion write-down. any read on where that stands? rachel: you saw a mix of opinions. on the one hand, exxon tends to take a bigger view, a more forward-looking view or encompass a bigger future than chevron and they are known for that. maybe they don't have to take as big of a write-down as chevron. but on the other hand, you have people at mizuho saying what about you? alix: the capex plans were released on the high-end. particularly, permian investments will be 10% higher next year. along with permian oil production comes natural gas. it's a vicious catch-22. rachel: especially in the permian, you are seeing companies say, i have too much gas, i don't know what to do with it. i can't connect to a pipeline. the pipeline that was supposed to be the next up on the docket is delayed because of opposition in central texas. it's not a pretty picture for gas outlook if you have too much of it in the u.s. alix: thank you. as we head to break, goldman's jeff perry weighs in on where he sees gold in 2020. jeff:

we start with exxon mobil tonight. why that one? >> right. well, i guess just as a backdrop, as you said, energee has a tough area, and we like the sector now becausee like the defensive types of names. >> right. >>y ene fits in there very neatly. global energy producer.rated they've had severalct pro in the work that will come on over the next couple of years to drive cash flow and sustain that 5% dividend yield, which some we're pretty comfortable to tha so we like exxon dmobil. n a couple of etfs. why that one? >> so that's a broad-baseden gy play. we just think the $60 plus oil prices right now are we think opec plus, the opec groups will cut back on what they'v already offered to us. that's goi to sustain that. xle offers a 3.6% dividend yield, probably going higher. a l of companies have already cut back on capital expenditures to help drive their cash flow and that's probablybottomed. so we should start to see some more money move into the oil services group as cital expenditures start to turn up. >>finally, boy, here's one with a very

om argue with supermajor oil behemoth by the chevron abthe bp, royal dutch shells exxons of the worldffer good dividend yields or maybe anttctive entry point. bp and royal dutch for example looking especially cheap but that's mostly a minority view. the majorits majority and i will believe supply will are grow in the oil business likely up 2 or 3% next year with demand unlikely to be up that much. so the bottom the market is going to remain oversupplied about oil and that' the biggest pressure on oil and oil stocks. for "nightly business report," i'mobisani at the new york stock exchange. >> in other news biogen presented detailed data on the rest you are absentingedpe mental treatment for alzheimer's, a diaz for which there is no cure. that's why the highly anticipated presentation today got attention. but in the end analysts had a hard time parsing the new information. meg yrrell hasmore. >> dwefrlg new medicines is hard more any disease but the track record is particularly bad for alzheimer's. it's been about 50 and 16 years more than a decade since we had a new trement approved fo

exxon. the germans came into romania and the nazi supervising regime put him in jail.ther worked for the ss from prison. oss. my motherhe oss.d as a courier for the he faced a firing squad but received a last-minute reprieve. anyway we all survived the war. we got together in '45. i was six years old. my brother, myself, my parents. normal, wonderful family life. i learned how to ride a bike from my father. a year full of joy and happiness. and then in early 1947, my father goes to new york and for what was to be a two week sort of major worldwide managers meeting of exxon. and they go, but just at the time, the communists took over. the russians greeted a coup in the entire eastern europe. david: the iron curtain essentially fell. peter: the iron curtain comes down at that moment and it is an iron curtain as we know because that's how socialism work. total control. while in new york, my father's friends from war days who started the cia by now tells them, in romania, the communists have my father, mother on a list to be arrested and exterminated. so they convinced the

and finally, exxon shares finishing lower after a judge ruled not guilty in a case which weighed exxonefrauding of investors about how it accounted for future climate change regulations. the judge there saying that exxon was not guilty. liz, back to you. elizabeth: great to see you. thank you very much >>> coming up, hud secretary, a very special guest, ben carson joins us on the homeless crisis that's skyrocketed in california. and the battle between california and the trump administration. also a new trend to help our homeless military veterans. it is called tiny homes. we will show you that story, coming up. what if numbers tell only half the story? at t. rowe price, hundreds of our experts go beyond the numbers to examine investment opportunities firsthand. like a biotech firm that engineers a patient's own cells to fight cancer. this is strategic investing. because your investments deserve the full story. t. rowe price. invest with confidence. quitting smoking is freaking hard.st, like quitting every monday hard. quitting feels so big. so, try making it smaller. and you'll be surp

i know there were other more levered napped names those are trades the chevron and exxon are salesen rallies. >> let's say we got a boost in oil. there is a lot of supply waiting to come on i wonder how much of a sustained rally do we see when the supply demand dahm might be off. >> it's hard to make a bet with any conviction not knowing where growth is going to be next year either we're up in the air globally on where we're shaking out. >> yeah, and i think people -- we always tried to determine whether it's a spli or demand story. i think it's really we're all saying it's a supply story i do think big emp and the mid-cap and refiners are run more -- we say it all the time there is less cap x. they are run better that's what gets you the turn. xle was the final trade last night on a relative value to what i think the s&p has done. i think that's about taken a look at something that's way, way oversold. >> let's despite the let's get back to the markets despite to the rocky start to the month the next guest says nothing to here and time to put risk on robert from fund saturate is at

and she goes back to the '70s and talks about how exxon mobil was at the forefront or exxon was at thence. >> yep. >> they were at the forefront. they knew what was going on. >> they wanted to be the bell labs of climate science and they were able to predict warming. they were able to predict what releasing carbon in the atmosphere was going to do. and then when they realized that it was -- or some people in the companyli

oil giant exxon mobil a u.s. judge said there was no evidence investors were misled about the true cost of addressing climate change the company was accused of causing investors a total of $1600000000.00 losses by using inappropriate accounting of. saudi arabia's central bank governor says the country is ready for any liquidity squeeze after saudi aramco stock begins trading on wednesday local banks are being monitored after heavy demand for loans to buy the stock around coles listing on the riyadh stock exchange is the world's largest on record at over $25.00 and a half $1000000000.00 budget airline ryanair is the c.e.o. michael o'leary has described the e.u.'s single european sky initiative as a lamentable joke the single european skies seeks to reform europe's air traffic management system to minimize environmental damage the commodore leary argued vehemently against the take zation traffic claiming it represents only 2 percent of c o 2 emissions. the 10th of december is the anniversary of alfred nobel's death

the state owned oil giant is the world's most valuable company list at 1.9 trillion, that's about 6 exxonsnd above apple which has a market cap of almost 1.2 trillion. >> well placed deal. a lot of people in saudi arabia decided to buy this stock. and that boosted it. i think sometimes you get deals and they pretty much determine where it is going to be. so now the question is, yield. and whether the yield exceeds what mike worth is offering on chevron. i think it will. i don't think it makes people suddenly all excited about the oil stocks, but it does say that there is appetite for equities at least in one country. >> definitely true all the hand wringing about esg, and how that might weigh on demand has not turned out to be a story today. >> no. and yet -- talk about esg for a second, a piece from morgan stanley -- >> evaluate -- very serious, evaluating our information technology, hardware coverage to an esg lens. do you know there are machines, actual software, dedicated to find out how many times you mention esg it a conference call and if it mentions a huge number, then the stock ge

and she goes back to the '70s and talks about how exxon mobil was at the forefront or exxon was at the forefront of -- of climate science. >> yep. >> they were at the forefront. they knew what was going on. >> they wanted to be the bell labs of climate science and they were able to predict warming. they were able to predict what releasing carbon in the atmosphere was going to do. and then when they realized that it was -- or some people in the company realized that it was going to affect their bottom line, they hired different scientists to doubt the scientists that said there was going to be global warming. basically, predicted where we are today. and they hired big pr firms. and they started aggressively lobbying, not only the government but -- but us, the american people, to try to convince us that what scientists found was not true. and scientists were not actually scientists. and so this massive effort, we were all on the same page for a long time. and then suddenly, we weren't. nobody argued with scientists a few decades ago. and now, suddenly, it's almost like it's a -- it's a q

exxon, the stock actually is down. exxon was just found not guilty of fraud.f misleading investors on the true cost of climate change. this was an attempt to go after an oil company because of climate change. it failed. even so, the stock is not up, it's actually down 50 cents. look at boeing. a former manager there will testify to congress he was the one who said warning signs were ignored, okay? boeing's down a little. the max jet, boeing said they have received 30 orders for that plane. they got 30 orders in november from unidentified customers. not helping the stock. morgan stanley, they're cutting 1500 jobs from their global work force. that stock is barely reacting, up 26 cents, 49.87. next one, nike. they're drumming up some controversy. this time they've got a new baseball uniform? looks fine to me. we'll tell you what the internet is angry about now. something or other. we'll be back. ♪ what i love most about being a scientist at 3m is that i'm part of a community of problem solvers. we make ideas grow. from an everyday solution... to one that can tak

alix: it has shone a huge spotlight on exxon. it is only taking a $2.5 billion write-down.d on where that stands? rachel: you saw a mix of opinions. on the one hand, exxon tends to take a bigger view, a more forward-looking view or encompass a bigger future than chevron and they are known for that. maybe they don't have to take as big of a write-down as chevron. but on the other hand, you have people at mizuho saying what about you? alix: the capex plans were released on the high-end. particularly, permian investments will be 10% higher next year. along with permian oil production comes natural gas. it's a vicious catch-22. rachel: especially in the permian, you are seeing companies say, i have too much gas, i don't know what to do with it. i can't connect to a pipeline. the pipeline that was supposed to be the next up on the docket is delayed because of opposition in central texas. it's not a pretty picture for gas outlook if you have too much of it in the u.s. alix: thank you. as we head to break, goldman's jeff perry weighs in on where he sees gold in 2020. jeff: when we

in a commodity philip created almost brutal last blast but harald i don't live there he nor exxon may not pull an. of course. to noon is the only time life for the super could ever be called a picnic in any of that. policy. air by the policy to be buying feeble of a policy by the. i are working every hour that they're not sleeping and they're stored in a very formal process that they work every. anything that you do. and now talking while you're even coming to the classroom you're thinking thinking about a problem so they're always thinking. thank you so much thinking about the future like one of prince. for the moment he's the star of this year's super 30 he's come top in almost every exam he's ever sat. religion for going the only way we like. you know he like you mike scientist we're not. going to miss me. out of madison because i'm using. this lady. on this. program. and it's a good man that america. focused. on. are made out the. exam to be made by. misguided i did not then i thought of what i. just got your. only hope is that. i took the skin subject matter i used to that i coul

. >> a miss to new york's attorney general who lost her show trial against exxon mobil.decessor four years ago brought the suit under new york's notorious martin act, claiming had that exxon defrauded investors and the public about the cost of climate change. the problem for the ags, no evidence which the judge pointed out in dismissing the suit. let's hope it's a warning to state ags to start using litigation to impose a political agenda. >> jason. >> it's a miss to time magazine for naming greta thunberg the person of the year. i think it continues the exploitation of this young lady to scare people into thinking some climate apocalypse is around the corner. reportedly the protesters in hong kong were on the short list. i think that would have been a better choice. paul: mary. >> a sad sit today for jersey city police detective joseph seals, a hero cop who gave his life in the line of duty last week. he was a 15 year veteran with a stellar reputation for bravery and dedication. he was shot in the back of the head by assailants who went on a rampage in jersey city. he l

oil companies altogether collectively should be trading highe >> that includes exxon, chevron. it's not just the little guys. because the market cap has been crushed by debt. that's the problem >> right so i mean if you are -- if you are bullish and there is debt then the u.s. oil companies you would think would outperform, right, retire relative to saudi aramco. >> this is 4% of the s&p 500, the energy sector. in 2008 it might have been 13% you have seen the market kwap of the companies shrink relevant it to s&p and the nrpg sector is the where you sent money to die. it's generated a return since mid-2014 i want mid-76itious. >> down for a decade of gains. >> exactly i think. >> do you own any of them mark. >> i ownkinder morgan. 5% yield you got heavy insider buying. >> what about enterprise transfer rn partnering a clone but trades at half valuation but some argue just because kinner morgan is in the s&p 500 and the other is not. >> huge insider buying we like the exposure for the permian. getting paid to move stuff we like them. >> the explosive ipo of aramco is the worst p

and p and the energy secretarier is so oversold it has to be interesting at some pin if you look at exxon there is cap x spend and the core profitability of the company is improving. i would point to the fact that the energy sector as a percentage of the s&p weighting is now 4.2%. twaps 16.5% ten years ago. s in a sector left for dead, no one felt the need to own it. >> but i wonder if that's the death knell. it doesn't matter doesn't move the needle so no one gets back in the guys trying to imitate all the indices don't have to be there anywhere a buy it everyone is the closet indexer anyway the only one worth buy something the refiner. the commodity? glut supply issue going forward. >> beta names in the derivatives world we might have a chart i don't know but in the derivative's world the options world in has been a dominant area the last three days in a row carl i talked about it the other day on the halftime show it's unbelievable how much paper we see in the energy space right now. absolutely extraordinary as a matter of fact, yesterday was about 50% of the unusual option activity we

bank of america believesl exxon mo could move up 50% to $100 ast sells assets, expands production and doubles c itsh flow by 2025. second, lower rates in 2020? no necessarily. many central banks don't seem to want it. shifting political winds in germany will leado the passage ofcaarge stimulus plans to boost the slower economy.ro euan bond yields wl move back towards positive territory. european bonds all while pushing european yields higher and t keepin bank rally going. finally, the direct listing craze will peak when airbnb goes public during the listing. it's allhe rage. private equity investors are pushing direct listingso cut costs and allowing employees and no one asked the buy side. dict listing spotify and slack are und performing and a disappointin airbnb debut will convince many that all ing early investors to sell at once may not be right for everyone. for "nightly business report," i'm bob pisani at the new york stock exchange. >>> nothing is more central to the outlook in 2020 than what happens in the trade war.se depr growth here at home and around the world this year.

in that half trillion dollar deal which is the largest oil deal in history of exxon red or indeed possibly a deal. that deal, was on hold because of u.s. sanctions. because of u.s. four collins steve with russia. and donald trump never met him and he was put in for your in charge of u.s. policy. that alone, is enough to sort of stop me in my tracks. the industry itself, was surprised at some of the stuff that they are not good at. when i sent explained read both losses, those about the deepwater horizon read in the industry for your promoting itself as being prepared to deal with any oil spill because they had a mitigation plan for your making sure that any oil [applause] of walruses in the gulf of mexico is something that they had someone in hand handle. i don't know if you know anything about walruses, but it's not like a scene whether animal prey [laughter] this is the regional. if you go back to some of the worst oil spills in the nation news history back to the 1960s and 70s, what they had to deal with with those oil spills, terrible. if the school things that look like the dividers f

have exploded several times just this year we had fires and deer park at the petrochemical plant and exxon mobil plant in baytown and fires broke out at the k.m.c. go chemical plant and. this put a lot of pressure on the news anchors to stand outside and pretend the air is safe to smoke i mean great. now to mention the infamous west fertilizer company explosion in 2013 was so powerful that it registered as a 2 point one magnitude earthquake it leveled homes in a 5 block radius and killed up to 15 people and injured up to 180 well that's nothing compared to the damage done by the winds at the macy's day parade at times to control knocking this balloon into a parade route. surely that great worker survives but think about the p.t.s.d. they'll face the next time they try to get a walnut. we as a nation need stronger regulations so that we're no longer getting beat down by the real seasons or later will not crack reporting from a safe distance outside portland. and the macy's day parade on their way care of the rejected tonight. during your headline from the future tomorrow you'll read a confu

exxon next on the list, the energy sector has had tough sledding though. >> that's right. >> why do youikexo ex >> here you get the 5% dividend. so the management is talking with their action. buthe fact is energy prices are not going down forever. so you had oil prices down on oaverage. and earnings slid. people see it as a high pe stock because it's 20. yt the facts of life is a need is oil prices to bounce a little and suddenly you bought it as a lower than normal pe. >> and pfizer facing concerns abt the loss of patent andel longtimeng drugs. certainly not the only drug stock facing that challenge. but y find other reasons to buy it,ne the pipe >> yes, this is a company that has -- they have a culture of dealing wh these challenges that drugs go off patent, and they have drugs in the pipeline. and they are also looking atth whats are doing. they also have, you know, very stronginancial position. they can withstand the ups and downs of the market. >> what abo the dividend? >> oh, what i like about them you got the low pe ratio, 14 and high y dividendld about 4%. >> very quickly on th

i look at exxon. gina talking about it last night up 5% off the recent lows can't get going. chevron can't get going. the ones you talk about that risk going bankrupt in 2020, those have moves because the leverage in the balance sheet. but i think you avoid those. you look a at the interrogated and don't see hope for equities near term unless you get the massive move in crude in 2020. >> and you're not getting a massive -- i think the expectation for crude is so far beyond what it's capable of. you hear opec is cutting production this is great but if you look you also see demand has been slowing as well meaning production cuts have to be like a lot bigger than they're going to be pifrpg we're going to end up disaping >> remember, opec cutting production but saudi cutting more than the quota. if they went back to the quota level in some ways they could produce more there is a trick of math there. >> yes. >> it's a bit confusing. >> saudis cut 130%. >> we have the biggest oil field in the world get bombed two months ago and oil barely budged. >> not even a blip. >> i don't thin

exxon killing 12 people dozens were injured in the incident on friday including children these pictures show the the rescue operation investigators are considering 3 possible causes of the tragedy pilot error technical malfunction and bad weather is how events unfolded. it is a. good. read in some way look at the recent discussion with us. as the shows it was a boarder at the airport he would. agree with. the did the mention of drug abuse or. even god knows how many lives in a given that i had only been with. him that i should just let folks strong jolt on the left wing literally seconds later the plane began to rock back and forth like a boat i began to tighten my belt panic doret had begun that children had started crying when the plane began to go down as look at it was clear that would definitely go into the ground so i braced myself for impact then the sewing the mergence the door was open so we jumped on the wing and began slipping because it was icy we helped each other to get down. to you. geoffrey thomas from airline ratings dot com gave her sister all some what might have gone

bolivia's attorney general has issued an arrest warrant for exxon for president. the new government has accused him of sedition and terrorism the left wing leader fled bolivia last month after the country's military pressured him hours over a disputed presidential election denounce the arrest or as illegal. a court in the philippines has found the masterminds of the country's worst political massacre guilty of murder the convicted members of the influential family killed $58.00 people in a 2009 bloodbath including political opponents and journalists families trial was also seen as a crucial test in a country where corruption and intimidation often decide local elections. 10 years have passed but these people students have not and may never hue. we cannot forget the murderers who took away their loved ones. but today justice has been done for them they are hereby convicted and sentenced to suffer the penalty of imprisonment. 29 of the suspects now face life imprisonment decades in jail but dozens of others are still at large the following accused who are found to h

and that half trillion dollar deal is the largest oil deal in history of exxon or the oil industry or indeed of deals. the deal was on hold because of u.s. sanctions because of the woods or in policies against russia. so he was brought in as somebody who don't, never met and was put in charge of news foreign policy at large. that is still freaking bizarre to me. and then long, is enough to sort of stopped me in my tracks. in the oil industry itself, i was surprised at some of the stuff that they are not good at. join i offered that i was going to read about the walruses, knows about the deep water horizon, and the industry for promoting itself for being prepared with any oil spill because they had a mitigation plan for making sure that any oil [applause] of walruses, and the gulf of mexico, is something that they had biologists on hand to handle. enough you know anything about walruses but has brought like a beginning weather kind of animal. [laughter] this is the regional think and also the fact that if you go back to some of the worst oil spills in the nation news history back the 1

it is not difficult to find yields over 3% or 4% in the area of the market because stocks like exxon, you can get 5% yield on that. think investors are wise to make sure they get appropriate exposure. vonnie: how much cash are you holding or how much of your portfolio will you be shifting to cash? as little cash as possible. i would not want to be left out of this market right now. year, we have apple at a record high on the year, companies like lululemon. there were a lot of people who came into this year who really sort of misjudged where the economy was, where the market was. do you think that some of these gains simply frontran where we are in 2020? it would be hard to imagine another year like this, a 30% gain back to back. romaine: they are rare, back to back gains. michael: i look at sort of what happens after big gains like this year. usually have strong gains going forward for several years. com experience in the late 1990's sort of distorts that. of beget further gains. the question on everyone's mind right now, how much valuation expansion can the market tolerate? the earni

chimneys all around the much needed heating plants are also major contributors to air pollution because exxonhas one of the highest rates of lung disease in the region according to the world health organization that in this cause is 13 percent of all the deaths here and it's one of the reasons why kazakhstan's authorities are looking for healthier alternatives. like this it's one of the largest solar power plants in central asia and is expected to reduce carbon emissions by a $150000.00 tons a year in the early hours solar panel a covered by snow this engineer has worked in conventional power plants for years and says this is the future. there are no rotating elements here all panels are static they do not require constant attention we generate electricity with the sun even without the sun we produce but not as good in comparison with traditional energy the costs of creating green energy are great for now but technology is developing and the efficiency of solar panels is growing the plan became operational a few weeks ago as the day progresses the sun melts the blanket of snow on the panels w

the joint venture requirement thisutos, petrochemicals, is where exxon mobil and tesla can have wholly-ownednts in china. laws,has also passed some which are pretty responsive to u.s. concerns. if the u.s. wanted to take a victory lap, it has enough material to do so. scarlet: you're based in beijing. i wonder, how is the narrative in china on the tech front different than what you hear here? we are used to hearing the same discussion points and the same pressure points being brought up . how do people in beijing think about this? dan: i would think about general secretary steve's comments in saying that china has to get ready for a new march. the party has to prepare for a combat spirit. they thinking about a siege mentality. that this is politically intolerable to the communist party, that the u.s. has the ability to shut off major firms and flows. they have to figure out a lot of these technologies, and they will invest a great deal to do so. scarlet: and they are ready to do so for years on end. dan: many years and many billion. scarlet: thank you so much. safe travels. we have some brea