on top of that, i bought some exxon calls today. i increased my exposure in the energy space when i know it comes to a lot of the other names whether it's exxon or going through the various names from the xop, that's where i find myself really in the options and getting mostly some incredible gains when it starts to move to the upside i'm hoping exxon is the next one. >> do you buy into this dip that started in term of the oil patch in july. >> these guy just mentioned exxon and chevron. they are down like you all just said, considerably i think pete kind of nailed it once we got the vaccine news in december, they started to out perform those. a lot of these gdp sensitive sorts of groups. i say the jury is still out. the equities haven't acted well for months it seems to be a bit worries about that the only thing that doesn't seem to care about the delta variant is the s&p 500 and the nasdaq. >> s&ps on friday. just on friday how do you rethink where you're positioned >> it could be industrial rebound delayed. i don't think it will

not only exxon flaring consistently from these operations even though it says it would not and is notosed to and also release methane and more carbon intensive operation, but in terms of safety to communities and lessons learned from things like the bp disaster in the gulf of mexico, i had dr. robert, one of the worlds most renowned experts at the university of california berkeley and one of the most trusted experts in the bp deepwater horizon disaster and many other offshore disasters, formally worked for shell, 1000 pages of axons permit and other submissions to the government of guyana for its offshore operations there. i mean, deepwater, ultradeep water operations, very technologically complex and risky operations off the shore a guy on a. he said exxon's plan superficial, putting forward improbable predictions of what their capacity was to address and put in place the neceary safety mechanisms for operating in ts dangerous type of production and that they were taking -- another person i interviewed, the former head of guyana's environmental protection agency as well as in environ

let's go back to the case of exxon.e number one only had success in may it's only august there is now speculation about exxon making as which decisions and look at where this is all heading. it will all be traced back to the esg pressures they're under. >> what they're going to do is sell assets to private companies. if you only pressure public companies, it's like playing whac-a-mole. it's not a systemic solution going and telling them one by one through proxy fights honestly is the solution to clue m climate change why are we talking about ideas like this? it's decades since this near liberal consensus markets will correct on their own, and we're still finding ourselves in a position where every solution we're bandying around, there's no serious economist who has said divestment or engagement is a useful way to fight climate change it's an oil company. they might lean more in the direction but a solution is not that they're going to reduce the production at the rate we need it to happen in society. th they're sharehol

guy: exxon versus bp is amazing. exxon is saying it will stick with it strategy.hat is fascinating. alix: i'll be tuning in for that. coming up, jason furman, former white house council of economic advisors chairman joins "balance of power" on dave westin -- with david westin. guy and i are going to her own radio show on dab digital radio. this is bloomberg. ♪ >> from the world of politics to the world of business, this is "balance of power" with david westin. ♪ david: from bloomberg's world headquarters in new york to our tv and radio audiences worldwide, welcome to "balance of power." we will start today with the main event in washington as the senate presses forward with the 2702 page bipartisan infrastructure package, even as democrats want to follow up with a $3.5 trillion budget chaser. congress what to do something about the debt ceiling as well. to pull all of this together and tell us what it means for the economy we welcome jason furman, president of harvard's kennedy school and he was chairman of the council of economic advisors under president obama. s

oh, my pleasure, exxon. and well, 1st of all, let me start by asking you about the situation with the corona virus because this is something that concerns people all around the world. not only in russian, brazil, but in many other countries. i know that you have been very, very critical of how your own country under your successor, dealt with the corona virus pandemic. but putting present bolts in all right, aside and focusing solely on your countrymen on the brazilians. do you think that experience and brazil has had a very difficult experience with corporate 900? do you think that experience has been scaring enough to immunize your people again, demagoguery and populism, or has it on the contrary and made them more susceptible to these brand of politics? by your own problem though, but i feel the problem with brazil is that our president does not respect the science of medicine. you know, those who understand the meaning and for the vanity of the cove at 19 pandemic, paid for the president did not purchase

oh, my pleasure, exxon. well, 1st of all, let me start by asking here about the situation with the koran virus, because this is something that concerns people all around the world. not only in russian, brazil, but in many other countries. i know that you have been very, very critical of how your own country under your success are dealt with the corona virus pandemic, but putting present bolton, all right aside and focusing solely on your countrymen on the brazilians. do you think that experience and brazil has had a very difficult experience with colbert 900? do you think that experience has been scary enough to immunize your people, again, demagoguery and populism, or has it, on the contrary, made them more susceptible to these brand of politics? by your own problem, i do, but i feel the problem with brazil listed our president does not respect science or medicine. you know, those who understand the meaning and severity of the cove at 19 pandemic, paid for the president did not purchase vaccines when he cou

exxon mobil is considering a major strategic shift.rgy giant may pledge to reduce carbon emissions to zero by 2050. there is been no final decision. exxon will unveil a series of moves on environmental and other issues before the end of the year. penn national gaming is moving to expand -- the owner has agreed to buy canada media and gaming. it is a top sports app in canada and number three in north america. in china, tiktok owner has laid off hundreds of employees. the social giant is shutting down a significant part of its online education business to comply with beijing's new regulatory regime. those curbs include abandoned -- include a ban on profit. global news 24 hours a day, on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in more than 120 countries. i am ritika gupta. this is bloomberg. ♪ >> there are a very limited number of countries that have begun to administer third doses, which we would call booster doses. the evidence is evolving, it is moving. we do not have a full set of evidence

exxon mobil reportedly is considering a major strategic shift.ng to dow jones, the energy giant may pledge to reduce net carbon in missions to zero by 2050. exxon reportedly will unveil a series of moves on environmental and other issues by the end of the year. jp morgan reportedly is pitching a bitcoin fund to wealthy clients. customers of jp morgan private bank are being offered a passively managed fund in partnership with nidec, a bitcoin focused platform that is a subsidiary of stoneridge, an alternative asset manager. global news 24 hours a day, on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. i'm ritika gupta. this is bloomberg. ♪ ♪ sen. warren: my concern is that over and over, he has we can -- he has weakened a regulation here, he's led the fed to protect the biggest financial institutions, and there has been dissent against that. i am very concerned about that. jonathan: senator warren with not exactly a ringing endorsement of chairman powell. from new york city this mornin

your energy sector is up 30% for the year so i think you're going to see some good opportunities, exxon is a good example of that, where it has not increased to the point that the demand is expected to increase in the energy sector and there is still a play for that pure play energy i still do like esg a lot but in the shorter term your traditional energy still has a place. >> all right courtney dominguez, thank you. we appreciate it we'll turn back to the white house cybersecurity summit we saw goldman sachs's jamie dimon walking in and google's ceo attending this high profile meeting. it's a white house summit on cybersecurity ongoing right now. expected to kick off not too long from now as the ceos are walking into the white house as we speak we're keeping our eye out for other ceos in attendance to this meeting. >>> all right, well, retail stocks being the broader market this year with one of our committee members making moves in the space today that trade is straight ahead you can tcwah us or listen to us live on the cnbc on the go app we're back in two minutes. roble. hey, cam...?

exxon mobil reportedly is considering a major strategic shift.ding to dow jones, the energy giant may pledge to reduce its net carbon emissions to zero by 2050. there's been no final decision. exxon will reportedly unveil a series of moves on environmental and other issues before the end of the year. that is your latest business flash. guy: thank you very much, indeed. so, i couldn't hear her. there is some thing about the transit lentic link today that i couldn't hear. [laughter] riddick is like 10 meters away, but i couldn't hear her -- ritika is like 10 meters away, but i couldn't hear her. i got it wrong. i think that's where we need to leave it. let's talk about the hood. i'm loving this. robinhood, huge two day run. touched 85 at its peak. it priced its ipo at 38. today, not so much. let's find out what is going on. bloomberg's dave wilson is here. dave: robinhood early today came out with a filing, almost 98 million shares on behalf of investors, especially the venture capital firm entries. it is understandable given the run-up in the shar

bank of america says conoco, exxon are the top ones in that space. dr.that brings me to you because you own calls in exxon and marathon petroleum >> yeah. and despite what i said about the price of crude oil earlier in the day today, scott, i do think the domestic production is going to be picking up in these coming months so i'm comfortable holding on to these. i enjoyed the upgrade reading through that analyst's note and i will hold on to both of these positions. >> what about best buy you also have calls there, right? reiterated a buy today at bank of america sorry, doc i should finish. the target goes to 1.45. >> it continues to work, scott most folks, when they're going ton a google search for best prices, will find themselves dropping frequently over to best buy. also over to amazon, of course and not surprising, best buy's digital platform has really been growing like a weed during the pandemic i don't think that slows down at all and even though the stores have reopened, many of which were shut because of looting and things last summer as well as

ceo of exxon solar joins me now., your business peers, even people in your own industry who are saying the tariffs somehow hurt american jobs so why should they be extended. >> well, thank you, charles, for having me on. really appreciate it. it is it is a false narrative. it does not hurt american jobs. it creates american manufacturing jobs and in fact industry has grown since tariffs were put in in 2018. what we're projected to see in 2021 with 25 gigawatts ever installation, this is 92% higher than what was estimated in 201. there is not only hurting jobs the solar market is skyrocketing. charles: you know it is obviously, it seems to be an uphill battle in part because there are major organizations, right? the chamber of commerce and these large business organizations, they hate tariffs. even conservative economic orthodoxy says you never use tariffs even though i think last year we probably learned the lesson about relying on foreign countries for critical things like energy. i mean do you make the argument tha

borrowing from andrew berry yielding about 5% next year is projected to know little bit more than exxonm andrew. jack: everyone is worried about peak growth if they put those stories aside bank stocks could do well, it is cheap and a fast grower and it's worth a look. jack: great ideas, think your. to read more check out this week's barron's magazine or online appearance.com, don't forget to follow us on twitter at barron's online. that is all for us, see you next that is all for us, see you next week on "barron's roundtable". ... [male whispering] supernatural, supernatural, supernatural. male: "i was chopping a log for the new student house for elisha the prophet when the ax had flew off into the jordan river. i shouted, 'elisha, help.' he threw a branch into the muddy water, and the ax had floated to the top." it was amazing. god is supernatural. ♪♪♪ male announcer: coming up next. ♪♪♪

. >>> exxon kicked off the climate leadership council the punishment comes after exxonmobil lobbyist voiced support for acarbon tax only because they knew it would never happen in the first place. the exxon ceo apologized and said the lobbyists words in no way represent the company's position on carbon taxes but the damage was done. >>> and a push to get the white house back to talking trade with china. "wall street journal" reports nearly three dozen of the nation's most influential business groups are calling on the biden administration to restart negotiations with china and cut tariffs on imports, saying they're a drag on the u.s. economy u.s. importers pay tariffs on electronics, clothes and other chinese goods. >>> on wall street, the dow up 144, nasdaq up 7 i should say the s&p up 7. and the nasdaq is it says up 742. that didn't happen anyway, the nasdaq down 59 oh, numbers. i'm shepard smith on cnbc. it's the bottom of the hour, time for the top of the news. >>> college athletes finally allowed to make money off their names and images one university actually helping athletes g

exxon mobil lobbyists bragging about meetings with a democratic senator?going to have to work with all-50 democrats to pass this bill because we don't expect any republican to back us. gop now stands for gas and oil party. and their leader, donald trump, is down in mar-a-lago, not even understanding it's turning into mar-a-lagoon over the next-15 years unless we take dramatic climate action so we are going to have to work with senator manchin. we are going to have to work with all 50 democrats to get the votes to take significant, dramatic climate action in the green-budget resolution. and i think that we can do it. >> i mean, it -- if -- if gop stands for gas and oil party, then joe manchin fits into that, based on that clip we just saw. but let's talk about the gop. according to an analysis from the liberal center for american progress, 52% of house republican, 60% of senate republicans, are climate deniers. zero democrats, zero independents. how do you tackle an existential threat to our planet, to our country, to our way of life when you have an entire

borrowing from andrew berry yielding about 5% next year is projected to know little bit more than exxonose stories aside bank stocks could do well, it is cheap and a fast grower and it's worth a look. jack: great ideas, think your. to read more check out this week's barron's magazine or online appearance.com, don't forget to follow us on twitter at barron's online. that is all for us, see you next week on "barron's roundtable".. larry: hello everyone, welcome to "kudlow", i'm larry kudlow, it is friday folks, let's give some random thoughts on money and politics in life liberty and the pursuit of happiness, first up our friend senator bill hagerty who was kind enough to come on her show a number of times refuses to vote for unanimous consent to close down for the debate on amendments to the official triple, why is this, because the

borrowing from andrew berry yielding about 5% next year is projected to know little bit more than exxonyone is worried about peak growth if they put those stories aside bank stocks could do well, it is cheap and a fast grower and it's worth a look. jack: great ideas, think your. to read more check out this week's barron's magazine or online appearance.com, don't forget to follow us on twitter at barron's online. that is all for us, see you next week on "barron's roundtable". >> from the fox studio in new york city, this is "maria bartiromo wall street". maria: happy weekend everyone, welcome the program that analyzes the week that was in helps position you for the week ahead, i am maria bartiromo one-on-one with jamie dimon coming up my exclusive interview with the j.p. morgan chase chairman and ceo, i asked him about the jobs market and his plan to get staff back in the office, concerns over the delta variant and i wanted to know about his big push to do more bu

borrowing from andrew berry yielding about 5% next year is projected to know little bit more than exxoneryone is worried about peak growth if they put those stories aside bank stocks could do well, it is cheap and a fast grower and it's worth a look. jack: great ideas, think your. to read more check out this week's barron's magazine or online appearance.com, don't forget to follow us on twitter at barron's online. that is all for us, see you next week on "barron's roundtable". >> it's every parent's worst nightmare. your child is born with a deformity -- a face no one wants to see. in poor countries, over 200,000 children a year are condemned to a life of pain and rejection, hoping for the miracle that will change their lives forever.

if you do this, we can exxon into a song. i've run it outside the high court in london to protest appealed by the united states fall the gates agenda ruling non sexual. the whistleblower washington has now been allowed to challenge keith saw cancer given him permission next hearing will take place in october. a song was arrested in 2019 for breaching british bio conditions, remains in london, jail and is still wanted in the us on has been os charges more than a decade ago. we can ex co founder published thousands of classified documents, exposing pens are going to war crimes and going to stop and iraq. he could face up to 175 years in prison if extradited to america, or partners reports from outside the court. parent the u. k is high court of justice in central london. the u. s. is being allowed to appeal against the decision not to expedite. ricky league founded julian a sorry, and action which is broadcast. how much is the courses we've worked very old during the fall? the old system of justice has just been thrown out the

if you don't have a few, not yet, it seems to me exxon or that the vaccine is about feel could not make interests. and that is an ideological war. but after obviously, the us defends the american companies and the u. k. defense the british companies. what there's all them it could be stopped, but brazil does not need to worry about defending the us. legal needs to worry about the health of the it's too big that needs to worry about the health of it. $250000000.00 inhabitants would be very l. you must buy the american vaccine. and the russian vaccine, as well as the chinese cuban any other vaccines with scientifically proven quality care for providing the interests of the health of brazilians. that must be championed by the brazilian government to keep if not the us government ref, i will do the delivery by the way. since the early 2nd semester of 2029, we signed the documents requesting breach of the vaccine pasent of important data. this in several interviews in the us, germany, france, and ball going to be feeling well and that there have been a lot of talk about solidarity and equita

that is the, the ordering fact supporters of we can exxon into a song. so run it outside the high court in london. divorce has appealed by the us was followed the gates in january ruling not sexually. the whistleblower was been allowed to challenge. keep psychiatric evidence against tradition next year and will take place in october. the thongs was arrested in 2019 for breaching british by all conditions. he remains in a london jail and still it was on espionage charges in the us. more than a decade ago, we can ex co found a published thousands of classified documents, exposing pens are going to war crimes and going to stall on the rock. you could face up to 175 years in prison if extradited to america or k portrait reports from outside the court period. the u. k. is high court of justice in central london. the u. s. is being allowed to appeal against the decision not to extradite ricky league founded julian a sorry and action which is broadcast. some of his supporters with what's going on during the 15th of purchase justice has just been thrown out the

if you don't have a few, not yet, it seems to me exxon or that the vaccine is about it could not make interests. and that is an ideological war, but after gag. obviously the us defends the american companies and the u. k. defenders, the british companies what there's all them in stock. but brazil does not need to worry about defending the us. defend needs to worry about the health of the 2 big need to worry about the health of 250000000 inhabitants. i will be very, there's l, you must buy the american vaccine and the russian vaccine, as well as the chinese cuban or any other seems with scientifically proven quality too for providing. 7 the interests and health of brazilians that must be championed by the brazilian government to keep if they're not the u. s. government, i will do that. by the way, since the early 2nd semester of 2029, we signed the documents requesting breach of the vaccine pasent of important data. this in several interviews in the us, germany, france, and u. k. probably might, but the vaccine should be turned into a public asset. the people all over the world don't b

the oil majors with the notable exception of exxon are raising returns as they move past the worst ofandemic slump. that is in a bid to woo investors who are wary about the future of fossil fuels. last let us talk to the bp ceo. i see you are increasing your buyback, increasing dividends. i wonder how much pressure you felt to increase payouts to shareholders. >> good morning and thanks for having me on. i think the results this morning are really on the back of a number of things. our team has done a great job in the past quarter and we have taken the decisions you talked about, they are based on three things. number one, the underlying performance of the business, which has been strong in the quarter. we delivered cash cost savings ahead of plan. we have the strongest convenience result in this quarter in our history. the underlying business first and foremost is performing very well. secondly, the balance sheet continued to strengthen. net debt has come down now to $32.7 billion. thirdly it is about our confidence for the environment. when you look at it from that damage, the reaso

texaco, standard, new jersey or exxon, standard new york mobile. this is the moment at which these companies were turning toward south america and the arabian peninsula, urged on by washington to discover new fields and secure american hegemony before domestic reserves ran out. again, we've had several cycles of peak oil over the last 120 years. this was coming in the wake of fears of peak oil in the inter war period and anticipating what was going to come next as the automobile industry continued to expand, especially in the united states and post war period. for loose, their corporate labor's contract a sense of limitless power, which, when harnessed by god fearing patriots, have the capacity to transform the world. he drew a metaphor to encourage his compatriots to use oil to fuel international advancement with america at the head. scholars have proved how this nation singular possession of petroleum served really as the pillar of the american century. but loose, the very architect of the term, suggests that a religion of [inaudible] outreach an

meanwhile, the taliban se political leader unto founder was idle ghani barbara has not returned from exxon taliban affiliated media, showed him being greeted by cheering crowds, getting off the plane. and can the ha loretta who was arrested by pakistani security forces in 2010 and kept in custody for years is now expected to by some to become the next leader. we're going to stop. one of the thought about commander who was seed on sunday storming the presidential palace in the capital and out to be a form of the tiny at the notorious guantanamo by prison. cam ortiz, to be to power, takes a closer look at his and other similar cases. if the situation of gaston wasn't already a disaster showcasing the shortcomings of u. s. foreign policy and appetite for regime change. well, it turns out one of the taliban leaders who gave a celebratory speech from couples presidential palace was none other than a former guantanamo detainees. who was released as a quote medium risk. guess seriously, of all the people, the u. s. torture in guantanamo this was one of the guys deems thought, really dangerous, an

because exxon ferguson and citrix don are all part of a moscow lead security pack. survivors of a devastating earthquake in haiti have been hit by a tropical storm. heavy rain lashed makes of shelters in the southern city of la k, one of the worst effected areas. officials have buildings, se, buildings that have been buildings have been damaged and are collapsing under the weight of the water. you know, the 2000 people were killed and saturdays, quake, thousands more have been left homeless, and many are still waiting for help. i got 5 more now, ma'am. got it's not good here. my home was destroyed. i have nothing my home yesterday, they distributed aid, but i wasn't able to get anything. it rained last night. we couldn't sleep. we have nothing to eat. gentlemen, has this update from puerto prince. we've been speaking to people on the grounds, including our colleagues over in the u, which is one of the major cities that was hit by this. and in the end, it seems that that was and as far as we know so far, too much flooding or land slides, which was the big worry about this. but we still have, a

if they face attacks by i'm groups from, i've got to son, because exxon fergus don and citrix son are all part of from moscow. lead security pack survivors of saturdays are quick in haiti are now having to cope with a tropical storm. heavy rain last makeshift shelters in the southern city of la k, one of the worst hit areas. so far, nearly 2000 people are known to have died. after months of being virus 3 and other 2 new cases of code 19 have been confirmed in new zealand. it brings a total the suite to 7. all cases are they vary and delta variance strain of the virus. the 1st triggered a 3 day snap lockdown starting tuesday. the government says that infection is linked to an outbreak in australia. those are the headlines on al jazeera. the stream is coming up next. a lot of the stories that we cover a highly complex, so it's very important that we make them as understandable as we can do as many people as possible, no matter how much they know about a given crisis or issue. the smell of death is overpowering. as i'll just say correspondence, that's what we strive to do. news i answer

treaty organization meeting that's, that's an organization in which 3 of its members states are cars. exxon could kurdistan and said you could stand, these are all countries that are located in the central asian region where afghanistan is also located. and this is especially serious for to get to stand because it shares a common border with the dentist. and, but one of the bigger problems really is that, who's to say that all of the refugees that come into the region are actually going to be refugees are not military themselves. i mean, this is serious problem that the russian president has said has a direct relationship to russian national security when you had teams to but we don't, once militants disguise those refugees appearing in our country to her as we are witnessing now. and i've got this, then these horrors were on our territory not so long ago. no one wants to repeat of that. that's why we don't one, those elements coming from them. now of course those horrors on the territory of the russian federation and in central asia that putting was referencing there, of course, had to do

i'm looking at your top 10 holdings berkshire, exxon why are they better positioned to deliver bettereturns if we are going to put your picks next to kalky woods >> talking deflation we are going to grow renewables if the population of the globe grows if you are going to have natural solar, you have to have natural gas. public policy is taking us down that path and right fully so berkshire has cut half of that out. there on track to be coal free 15 to 20 years on. you take those numbers that refine crude you want all of the output from oil. you want asphalt and plastics. you want medicines, you have to have refined crude i've got places in europe where refineries are dirty assets. i've got a position that picked up a refinery in washington state. >> we'll have to leave it there. thank you for your in sights we'll see how these bets turn out. thank you for being with us. >> thanks for having me. >>> one more thing, facebook we told you the ftc did refile antitrust against the ompany this one nearly twice as long and points to acquisitions of facebook and whatsapp and names snap as a co

. >> yeah, but if it's really so good, how come we're not hearing exxon is opening up hydrogen fuelling to the truck depots >> it's going to take time to work through the whole process this is really only happening now. like you said, a lot of the incentives right now that i think are going to jump start this process are being debated right now as we speak in congress i wouldn't at all be surprised to see that development eventually but it's not quite ready for primetime yet. >> you're saying, said something very important, unless you have cheap electricity, it doesn't work >> unless you have green -- renewable generated electricity, it doesn't work. also have to have cheap electricity, too. >> so coal-based system. people feel there's too much in the system, don't want to create more pollution when we try to create less pollution, right got to make it work. >> got to do one of two things -- make the hydrogen in way that doesn't generate carbon dioxide, co2 or you have to sequester that co2 in one of the processes i mentioned, ccs or ccus >> last question and this is toughest thing i sp

exxon hinted at a strategic overhaul after reporting its highest profits since the start of the pandemict of $4.7 billion in the second quarter, it's best period since late 2019. they will -- malaysia has accused bytedance of illegal operations, ordering them to end mobile applications in the country by next week. a statement said they should also stop marketing to malaysian consumers. they are aware of the notice, adding that bytedance.com does not -- binance.com does not operate out of malaysia. a playstation 5 game is being delayed. the sequel to horizon zero don was tofdsdsdsd the videogame industry has been hit by the latest covid-19 production challenges. macau's gaming revenue for july missed expectations as new covid-19 flareups put border openings under question. growth revenue rose to just over $1 billion, which was lower than the median analysts estimate. that is it for us. daybreak asia is next. this is bloomberg. ♪ s is bloomberg. ♪ and there you have it - wireless on the fastest, most reliable network. wow! big deal! we get unlimited for just $30 bucks. i get that too and m

we are talking about gm, exxon, ford, ge, ibm.ues have grown over time but they are not the companies we are talking about anymore. it is apple and microsoft and facebook. things have clearly changed over time. it shows up in numbers like these. tom: david wilson, thank you so much. john, looking at the wei function. 12 months trailing, we are numb. jonathan: year-to-date up 19%. we make it too difficult sometimes. tom: going simpler on the numbers is great. i removing them from the triple leverage cash fund. i did about 120% last year. -- 1.8% last year. jonathan: when you say we are numb, i think you are right. we are desensitized by these all-time highs. 47 year-to-date on the s&p 500. a lot of people look to the u.k. it is a template for looking through what's happening in america. that is what people believe. what we have seen in china is fascinating. the base case for most bulls with -- a second shot has been sent to the system. we can debate if it is large or small. given what has taken place it is clear there will be some

the scope and scale of exxon baton rouge. these refineries are giant norm -- are enormous, our day?u think you are looking at a skyline, but you are not, it is the refineries. taylor: continue about what we can learn given years past, the impact on gas, on energy markets of hurricanes. brian: in 2008, gustav and ike went through this area. gasoline prices, especially across the u.s., jumped quite a bit, and there's a possibility this might happen again. this hurricane, the eye wall, the strongest winds of this hurricane went over the terminal just offshore and over three major refineries as it moved up into louisiana, so those facilities probably suffered some damage, maybe a lot of damage, and, younow, there's tertiary damage all the way up what they call the ruhr of america. taylor: it is interesting. when we think about the flooding, the rain, about assessing the damage in the coming days, what to you is going to be the most severe? brian: a major loss of life or some kind of massive infrastructure collapse, which is still possible. the big story here is going to be the economic

the whole thing is pulling the energy sector down chevron, exxon, halliburton, stocks died to the economicecovery, airlines, cruise lines, they're drifting a little bit lower. but bank stocks are moving higher as bond yields l bank tos support for the economy, sooner rather than later. forecasts ofg ay or in december rather than waiting until january. but michelle meyer writes, the report leaves september in play for a taper announcement but contingent on another jobs report next month. some say september some say the november meeting is when the announcement will come. some are saying december or january. there are some officials on the fed who might want to begin tapering in the fall, call them the fall guys. here are the keys to the decision that will be made a strong august jobs report will be necessary a sense that the impact of delta will not mean knew lockdowns and this idea that inflation being transitory, that's going to have to define itself by the fall it will be up to powell to make september a real possibility for a taper announcement or take it off the table through his speec

according to "than your times, it would tax companies like exxon, chevron mobile, and other big oil andas corporations. it would direct government agencies to release -- how long will jamie dimon stay? the billionaire ceo of j.p. morgan chase told foxbusiness he sees himself staying in the job for another five years, but not 10. global news 24 hours a day, on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. -- global news 24 hours a day. i'm ritika gupta. this is bloomberg. ♪ jonathan: big downside surprise on the adp report this morning. good morning. here's the price action. 1.13 to 4% the yield on the 10 year -- 1.1324% the yield on the 10 year. we are just about to break through 1.13% now. your dollar is weaker. as tom pointed outcome of the dollar index briefly through a 92 handle, advancing by 0.06%. equity futures a bit softer, down nine points on the s&p 500, down by 0.2%. it is a downside surprise on the adp report. 330,000 is the number. 690,000 was the estimate. tom: we go granular. only michael mckee can do that b

. >> kelly, this morning i went into one of these convenience stores connected with an exxon, a dunkin' donuts, and i went to the back of the store and there was an atm that sold bitcoin have you seen these? >> i was at a vineyard, just up in new york, and, you know, they sold the wines they grow and make there and they have a bitcoin atm by the restroom. in fact the guy we know, a new jersey-based guy who does all sorts of things, he puts screens in elevators, his new and biggest line of business is installing crypto atms >> this was the least likely place i could imagine, but there it was, nonetheless. and their regular atm which i needed to use was out of order the crypto machine was working all right. we digress >>> the crypto industry is a job creating machine states across the country are trying to attract businesses and high tech talent in one of those states, maybe the leading state, wyoming. kate rooney is in cheyenne kate >> reporter: that's certainly the case here in cheyenne, wyoming, the state's capital it's looking to become the crypto capital of the united states one of

if we have to rely on organic growth, a company like exxon mobil, its earnings yield, the price you payext three years of earnings roughly 8.2% yield. add another 6.1% dividend yield and you're looking at essentially an embedded growth rate of 14.3%. so i would call that a no news is good news holding the same thing with chevron. not quite as aggressive but 7.4% earnings yield 5.3% dividend yield for a total of 12.7% organic growth rate built in >> why do you think bond yield, you talked about as low as they're going to go or maybe they break the 1% barrier, why are bond yields as low as they are given the fears of inflation? >> i think some of it is the fed. the fed owns roughly 30% of the tips market. tips really drive a lot of the real rates the fed still continues to buy $120 billion of bonds month in and month out. i think that has something to do with it. i think the fact the fed does have a track record of tamping down inflation over time i don't think we're worried inflation will run away. i do think with real rates at 1.2 or something like that in the ten year, we've never seen

exxon mobil, a huge baton rouge plant. earlier today saying, thankfully, no damage there. new orleans area as well as shell, pdf and phillips 66. about 13% of u.s. refining there. west to lake charles, citgo, and two smaller ones, phillips 66 and another from trans world oil another 5% that's the 18% of refining also, you probably don't care about oil but you care about gasoline prices. watch them in the coming days because the colonial pipeline, which we've heard a lot about for other reasons, the key pipe for getting gasoline to louisiana is shut down on lines one and two. lines three and four from north carolina to new jersey are running. if inventories are drawn down that could change. louisiana important for liquefied gas imports. cheniere with a huge export there and tellurian. the company to watch the most, maybe the most important for millions of families, louisiana right now, is entergy, the power provider for new orleans we know according to the governor of louisiana about 1.7 million people have no power and here is why that matters no state relies more on elect

i mentioned exxon. doesn't someone want to tap into at least your expertise if not your pipelines and your dome >> you bet when i think about it, jim, we have a great business here we have over the years built a massive infrastructure in the heart of the gulf coast industrial corridor, and we see that as a great point to do just tremendous things with carbon capture on the gulf coast and beyond honestly, we feel good about where we are we have a business that, even though we're relatively small compared to some folks like that, we think we can punch above our weight right now we're focused primarily on doing what we can with the assets that we have, with the great expertise we have as a company that we've developed over more than two decades, to just make this carbon capture business as big as it possibly can be for d denbury. >> you are the role model for the industry there was a prior denbury with a couple billion in debt that's now gone. you are basically one very clean balance sheet growth company t

per chevron and bp and exxon, it should be ida -- they are the ones who caused this mess.diculous. it is time for us to get serious about this climate crisis. the times of playing games with politics, either democrat or republican, the time for playing games with this climate crisis is over. it is time to put humanity first. a cli theirars. homwith no electricity suffering in need. people still maiaining the archaic views of the fossil fuel industry? that has got to stop now. juan: is it your fear similar to what happened after hurricane katrina that the crisis wa used to implement anti-people policies, for instance, the elimination virtually of all public schools in new orleans that this crisis will be used in the segway way by those in power? >> most definitely. after katrina, we knew the fossil fuel industry started to create the climate denial platform most of they moved beyond that now as well as the policies and communities who live to destroy those community's. literally rolling back from public housing, rolling back -- closing down charity hospitals. every aspect t