exxon mobil's ceo tells us what's up with oil prices. later, you have to have it if you are driving a car, but you are probably paying too much. how to lower your auto insurance rates. take a look at how the stock market ended the week. >>> the price of gas is about a dollar less a gallon than it was a year ago. it's a dream for drivers and potential nightmare for oil producers. yet america's largest oil and gas company isn't fazed. we sat down with exxon mobil's ceo to find out the impact if oil prices fall below $40 and what it means for your money. >> is the immediate effect for everyone will be an impact on their cash flow, just because you produce the same volume, you're getting less money for it. i do think though that people should be prepared for some more val ti volatility in this market. >> if you look at what really is going to impact prices, do you think it's this additional production we've seen in the united states and canada? do you think it's saudi arabia, the decision to cut production or not? the demand picture? what to

we sat down with exxon mobil ceo rex tillerson to find out the impact if oil prices fall below $40 and what it means for your money. >> the immediate effect for everyone is an impact on their cash flow. just because you produce the same and get less money for it. i do think though, that the people should be prepared for some more volatility in this market. >> if you have to look out and try figure out what really is going to impact prices, do you think it is this additional production that we have seen in the united states and canada? do you think saudi arabia and the decision they decide whether to cutn or not? the demand picture. what is the biggest determinent in? >> a combination of all of those. what set this off, last talked back in december, i think i made the observatio observation then that it was supply and demand and year after year, there is another million plus barrels a day coming out of north america. it comes regardless of whether there is a real demand or not. you combine that with a fairly modest demand for the last couple of years due to global economic performance a

exxon mobil is facing a $2.6 million fine for the spill and has spent $70 million to clean it up. the company purchased many of the homes on the block. three houses were so badly damaged exxon knocked them down. most sat empty. even after an accident, mayflower,e in defeating keystone could be a long shot for steyer. if you look at the polls, two thirds of americans do support the keystone pipeline, and that number hasn't budged. tom: it really hasn't. betty: it seems you are a minority. tom: i think this is a topic in which people don't understand what it is, and it is always presented as either we do this or we do nothing. that's absolutely not true. we are not going to run the society without energy. it is just a question of how we think about it. betty: but keystone is just part of the problem. steyer says the biggest issue is how tar sands oil is recovered from the canadian countryside. 20% of the oil is mixed in sandy soil lying just beneath the surface. it is strip mined and spun in centrifuges to separate the oil from the dirt. the remaining 80% is trapped hundreds of feet

settlement must be blocked. $250 million settlement with exxon mobil defies reason.anger in the state about this still inexplicable deal, there's also now a lot of consternation about a clause in the state budget this year that would appear to allow governor christie to divert most of the money won in a settlement like this to pay for environmental cleanup. instead the money could be directed directly into the state's general fund which could be used for anything the governor wants, like say plugging the gaping hole in the budget which is an uncomfortable thing if you're running for president. now, though, the state legislature has decided to intervene. they simply announced they will have a hearing this month on the questionable settlement deal. in the state senate, the president and longtime state senator said they will take legal action to block this settlement in the courts. state senator saying, i grew up in the bay way section of elizabeth, new jersey, where this exxon site is. it smelled there. it smelled bad. but this smells even worse. joining us now is new

we just mentioned the exxon mobil ceo rex tillerson telling cnbc that investors should brace for morelity in the oil market and there's been volatility in exp shares this year. a downgrade today. traders take their position. next up on the half. >>> the halftime report, with scott wapner. is the place for market moving interviews. >> when you see large currency moves and large price moves in a commodity like oil, you have to be worried. >> real money. >> what makes things cheap is uncertainty. >> real debate. >> interest rates are going to go up, they can't drop as much as they did last year to this year. >> the most profitable hour of the trading day. >> do you think dick costolo will leave that job? >> we think there's a good chance he's not there within a year. >> the "halftime report," week days at noon eastern. ♪ at mfs, we believe in the power of active management. every day, our teams collaborate around the world, to actively uncover, discuss and debate investment opportunities. which leads to better decisions for our clients. it's a uniquely collaborative approach you won't fi

and it is working, but look at exxon mobil, they've told you we haven't reduced our activity in the u.sbecause it's still all economic. we think u.s. production will continue to surprise to the upside which adds to our bearishness. >> joe? >> paul, if you believe that oil is going lower, i guess the real question becomes, is it 1986 all over again? where for the four years thereafter oil prices remain depressed? >> right. there's a definite risk of that because the global economy is weak and demand stays weak. the other thing about 86 was very different, is it's similar setup saudi wide but you have low interest rates. back then very high interest rates. that meant companies some 30% of u.s. oil and gas companies went bankrupt. the question is, you know, maybe that's what we need to do in this cycle because you're so oversupplied. will you be able to do that when the companies are still successfully raising equity. we had exxon with an unbelievable 7 or 8 billion yesterday. doesn't look like the bankruptcy side is going to rationalize things at all and that's another concern on the bear

his 1st of all 2015 they rounded out that week with a bit of an uproar over settlement involving exxon mobil is rumored to be around $9 billion. 250 million. some are calling it a huge scandal. i spoke with the senator call that a bad deal. >> most people can understand how 9 billion plus economic damage can be reduced to $250 million. this needs a very very close with the a problem. >> we have assemblywoman nancy munoz to get inside and share with the some of which is working on. what do you make of the fact that the settlement was so low? >> first of all, none of us were in the room. it's a settlement between dep and the private corporation. bill: why is it every time something like that happens whether the governor had anything to do with it becomes a horror story. >> so you know he has refineries in his district. >> is not just about scandal he wants to run for president. your going to have to go to pentagon. the deal. yes they did contribute. meanwhile, having a deal for state and then go through governor christie they pay less than we expected them to. these are all valid questions. yo

back to you. >> thank you very much. >> shares of exxon mobil lower. is selling his stake in exxon mobil, but the ceo tillerson says the stock is still a good bet. >> we believe we're still the very attractive opportunity for people who want to have a piece of this part of the global economy that will be there in the global economy because there's never not going to be energy demand. >> the senior vp energy analyst joining us now for a take on big cap oil stock. great to have you with us. narrowed it down to three stocks. it seems like the theme here is that you like the one stock, chevron, but there's much more oil exposure opposed to some of the gas here big cap oil names. >> absolutely. look, you know, which commodity's down 50% in the last six months? it's crude oil. companies that have the direct leverage to an oil price recovery, you know we think are fundamentally well positioned, you know in terms of equity investments. exxon, obviously, you know it is an oil company, but guess what? half of its earnings come from refining in chemicals this yea

turns out he did sell out of exxon mobil shares. saying exxon mobil is a very good company. said that he liked that money to be spent somewhere else. he thinks he can do other things with it in the meantime. but that is one of the things that kind of surprised me. >> the advice to lebron james keep buying america. average cost he said you can't do much better than that, becky. >> that's right, simon. he's pleased with where things are going now. it was interesting. we talked about how growth has only been around 2%. he said that's still great growth for a country. obviously not what we're used to growing over recent decades. but 2% he said things are going well when he looks at the economy, he thinks that it will continue to do well from here. >> early start for you, but it was a great show this morning, becky. thank you very much. becky quick there from omaha. >>> up next on the program, sonic tapping into the millennial generation investing a new technology in its restaurants. the company just reported an 11.5% increase in same-store sales. in stark contrast to what's happ

this area awe june capital and as you've proposed a resolution to exxon mobil they return some of the profits to find the stakeholders unitarian association and the presbyterian church usa have proposed a stakeholder measure to chronicle phillips they tie their contemplation to the value of their proven reserves both of the proposals have been rejected baselines the fcc rulings that the company can at their own discretion refuse to accept a proxy that there are many reasons why a company can refuse stakeholder proposals and both of those cases it's because the fcc says a company didn't have to consider a stakeholder proposal that goes to its ordinary business operations and i don't see any much possibility at all that any of those huge fossil fuel companies are interested in a proposal that tells them to change their basically business as for the cooker asset initiative the letter signed by many in september of 2013 and sent to the largest companies ask them to disclose their roanoke valley the first was e on mobile they said they per sieve no risk because their belief is that they're

suggesting the governor gave what is now exxon mobil a break because the energy firm donating half a million dollars to the republican governor's association four times more than exxon gave democrats. and christie potential presidential candidate in 2016 might need exxon's support. but christie call the criticism absurd since the settlement also requires exxon to pay for the cleanup with no cap. >> so how much this is going to cost them i don't know but here's the other thing. neither do they. because we're the ones who ultimately decide either it's cleaned up or it's not cleaned up and they have to keep going until we say it's cleaned up. >> anyone who thinks that exxon mobil will complete a comprehensive cleanup of these sites is dreaming. >> i just don't trust the large corporations to be responsible enough to clean up. i don't trust them any more i would trust my 884 old daughter to clean her room. >> reporter: lawmakers may still hold more hearings and the matter is open to public comments for 30 days. a judge will decide if deal with exxon will stand. in trenton, new jersey, ric

stakeholder resolutions put forward in this area awe june capital and as you've proposed a resolution to exxon mobil they return some of the profits to find the stakeholders unitarian association and the presbyterian church usa have proposed a stakeholder measure to chronicle phillips they tie their contemplation to the value of their proven reserves both of the proposals have been rejected baselines the fcc rulings that the company can at their own discretion refuse to accept a proxy that there are many reasons why a company

those had to actually get individual contributions from real human beings so in the 2008 cycle exxon mobil had a pack which raise $1 million which is not chump change which they were able to put into campaigns across the country but citizens united had been in place in 2008 the ceo of exxon mobile could have reached into the corporate treasury and taken out essentially what everyone did. the company had $87 billion in corporate profits in that cycle so if they had taken out a modest 10% of just their profits they did spend $8.7 billion which was more than was spent by the obama campaign or the mccain campaign and every federal candidates 10% of the profits of one fortune 500 company. the court declared that this was what the constitution means, corporations can spend whatever they want and with predictable results. in the next election cycle in 2010 when the major question of the campaign should have been the bp oil spill which destroyed an entire ecosystem in the gulf of mexico or the collapsing coal mines in west or the trillion dollar meltdown of the mortgage industry which destroyed lo

those are the words of the ceo of exxon mobil. he expects crude oil prices to average $55 per barrel, through 2017. that's about half price in recent years. tillotson says it's due to two factors, a rising production in the us and around the world and it decrease in demand to to economic weakening in japan and europe. >>> still to come, if you do something wrong or was he desperately asking to save a life? the conclusion of an investigation who drew his weapon on oakland demonstrators. and it is unseasonably sunny and warm outside, but how long will it last? rosemary rosco will be here with your forecast. in the bay area bridge lights flickered out, at least for now. plus, what happens now. [ birds chirping ] [ inhales, exhales ] [ announcer ] cigarettes are not just dangerous when they're smoked. [ rat squeaking ] they're dangerous long after. cigarette butts are toxic. they release chemicals that poison our water... and harm wildlife. and millions... are polluting our environment. [ sniffing ] [ seagulls squawking ] >> the twink

spring switching to the summer blends of gas and others say increase is due to the explosion at an exxon-mobilexplosion and labor strikes in other refineries. >> i don't know how people do it in their big cars and this little prius gets good gas mileage. i'm lucky. >> reporter: prices are still lower than last year at this time, and some are not too worried. ken says he save the that extra money from the winter preparing for a gas boom in the spring. according to aaa, california has the highest average of any state at $$3.39 a gallon more than a dollar above the national average. nbc bay area news. >> prices are climbing thank you. >>> a fire hazard or health hazard? a battle on the peninsula because of herbicides. they need to spray the area at highway 84 between skyline boulevard and highway 1 because vegetation is a fire hazard and driving hazard, but those nearby say spraying is unsafe and unnecessary. >> i understand the fire safety but it is always possible to mow as an alternative. >> reporter: they say moewing is not the option because they don't have the manpower. spraying is next week

. >>> the ceo of exxon mobile expects the gas prices to remain low.expert opinions crude oil prices to average $55 a barrel through 2017. that is about half the price in recent years. now he says that it's due to two factors. a rise in production in the u.s. and around the world. and decrease in demand due to weakening economic conditions in china, japan, and europe. >>> aldon smith wants to show he has over come his off the field conduct. he was due to earn $9.75 million instead of a straight salary the money now comes in the form of roster bonuses. smith will only get paid if he is on the team at certain points of the season. the deal protects the 49ers if he gets into trouble. in the past he has been arrested on drunk driving and gun charges. >>> coming up next in our 5:00 hour, it is all in the timing. >> the vehicle actually passed in front of me. >> what the antioch police chief moated during his morning commute that sparked a high speed chase ending with a suspect in handcuffs. >> and efforts continue to remove that delta jet that slid off the

customers to earn points by making purchases at seven companies, including macy's, at&t, rite aid, and exxon mobil. for example, you can use points to pay your at&t bill to make purchases at rite aid. anything to save a penny. >> crossing a line. >>> the new bay bridge literally going under the microscope to gauge the severity of cracks in its anchor rods. we've got a live look at that new eastern span right now. maybe. if not, just look -- there you go. caltrans will bring in electr electronic microscopes to examine tiny cracks in the metal suspension rods imbedded in the towers. those rods actually connect to the bridge foundation. last month, caltrans discovered a connecter rod suffering from rust and croatian. engineers believe it was exposed to standing fresh water during construction. >> all right. do we need that microscope to go over the doppler radar like yesterday? probably not. maybe. we do have the scientist in the house, meteorologist christina loren. good morning. >> you don't need a microscope to take a look at our doppler. look at all this space i have to show you the numbers comin

the ceo of exxon mobile expects oil prices to remain low for two years.x says expanded global supplies and weak economic growth in asia and europe should keep crude at $55 a barrel. the price of oil plunged because production out paced consumption. etsy is going public. in a filing they said they are looking to raise $100 million in the first public stock offering. etsy had 1.5 million sellers last year and 20 million buyers. >>> mcdonalds is setting new standards for chicken and milk. the fast food b giant says they will require their chicken supplier to stop using antibiotics within two years and no longer serve milk from cows treated with a growth hormone. public health officials say anti biotics used to raise chicken can lead to a drug resistant germs. >>> a trial over "blurred lines" resumes today in los angeles. ferrell williams says he did not top pi work by the late marvin gaye's 1977 hit, "got to give it up". "blurred lines" earned $16 million in rofits. >>> uber is erasing a $100 clean up surcharge it gave to a passenger. a california woman disc

whiting petroleum at attracting interest from exxon mobil in continental resources. a sale of the entire company. according to the people with knowledge of the situation shares are jumping with news of the situation. and getting you can't on moves in the -- cpaught on moves within the nfl. nasa's hubble space telescope has captured data indicating there's an ocean on one of jupiter's moons. stocks are closing of the day in the red, marking three straight weeks of decline. we are the news desk, taking a look at the market will begin its next week. what is on everyone's mind? scarlet: everyone is on fed watch. everyone will be doing a search on one word, patience, and any kind of guidance janet yellen can offer as to what happens next. you also have two said presidents speaking on friday. plenty of said be for everyone to interpret --- fed speak for everyone to interpret. i know there is a diamond etf that tracks the dow, but it has 30 constituents, it is not a broad representation of the market. if anyone has there and -- is out there and has an answer, tweet me. nike

exxon mobil from alix steel. getting excited about net neutrality?heeler may have won the ballot of -- may have won the battle but the war rages on. he joins us live from barcelona. blackberry takes another leap into the smartphone arc market debuting a new touchscreen device. will you buy it? we will be back. ♪ betty: here's a look at our top stories. british bank barclays be profits. it is currently facing a rigging probe. >> what we can reasonably estimate at this time is i cannot completely say that will be the end of the four nations provision because the discussions are still going on with a number of authorities. betty: the bank may face up to a billion dollars in legal costs because of tax misconduct. new questions about hillary clinton's online correspondence. she conducted government business with our own personal e-mail account. that would break federal rules. her aides did not save her e-mails. she has turned over thousands of pages to authorities. lumbar liquidators is now rated a buy according to an analyst. a 60 minute segment aired su

from the trenton bureau new jersey lawmakers are trying to stop governor christie's plan with xon exxon mobileeek the christie administration introduced a $225 million settlement between the state and exxonmobil. initially the state had thought $9 billion in damages. environment lists say it's for pennies on the dollar. >>> a mother of three from union county, new jersey is now a millionaire. >> yes, she hit the largest instant ticket top prize. those are the scratch-offs. the largest in the game's hawaiiryhawaii hawaiiryhawaii history. lacey kattana says the big win is still sinking in. >> my family just feels blessed. i'm feeling blessed. i'm in complete ship. it doesn't feel real at all because we all know you feel like this stuff doesn't happen to normal people. >> she bought her winning ticket at a crowder store to receive a $30,000 commission for selling the winner. >> everyone says i would never win and then you win. i would never win, but i'm standing here holding a huge check. >> you don't know until you try, right? >>> you're watching "nbc 10 news." "nbc 10 news today" at 5:00 a.m. s

. >>> american express is launching a new program with companies like macy's, exxon mobile, rate aid, ahulu and at&t. it is similar to drugstore reward program. the the new partnership let them appeal to a wider customer base. >>> a chance for warren buffet super fans to stay in his childhood home. they are holding the contest. it is only opened to berkshire hathaway shareholders planning to attend the company's annual meeting in omaha and they must submit shortest says. buffet's old room still has two twin beds. erika and diana. >> how about that. >> thank you. >>> happening today philadelphia mayoral candidate jim kenny picks up another major endorsement the philadelphia afl-cio represents 13,000 blue collar workers. the the union chose kenny because of his support for working families while on city council. a few days ago the philadelphia federation of teachers also endorsed kenny. the mayoral primary is may 19th. >>> former congress woman gabriel giffords will be in trenton for a round table discussion on protecting women and families from gun violence. earlier this week she pushe

. >> when we come back this morning, the chance to catch up with exxon mobil ceo when he was in town.e talked about oil prices and the impact on the energy giant spending plans. we have that conversation next. but first as we head to a break this morning here's a look back at this date in history. opportunities aren't always obvious. sometimes they just drop in. cme group can help you navigate risks and capture opportunities. we enable you to reach global markets and drive forward with broader possibilities. cme group: how the world advances. >>> welcome back everybody, exxon mobil announcing plans to trim it's capital expenditures in 2015 to about $34 billion. that's a 12% decline. capex is expected to be less than that in 2015 and 2017. the ceo spoke exclusively about the plan to raise production while cutting the capital spending spending. >> we expect to capture costs out of this item. marly here in north america we're drilling a lot of the wells. so we expect our people will carry out some level of activity activity. it leads tous believe we'll see little in north america. it's f

>> reporter: yes, the state of new jersey announced 225 million-dollar settlement with exxon mobile for the contamination of more than 1500 acres of wetlands. it is the end of 11 year legal battle and the largest environmental settlement in state history. critics contend the 225 million is just a fraction of the nearly $9 billion initially south by the state. ukee erika? >> all right well, let's talk some donut now. i understand a change is coming to a certain donut? >> reporter: yes, dunkin is changing the way it makes some of it donut. dunkin'dunkin' donuts will no longer use a white additive in its sugar that could be toxic. tie tame young dioxide has not been proof tone pose a health risk but as a precaution, dunkin said it is stopping its usement consumer watchdog group had criticized the chain for using it. we're seeing more and more chains make some changes to their food. ukee erika? >> i'm telling you. might be toxic makes me maybe nervous. >> just a tad. you know what i am saying? >> might be toxics? >> we don't want that. >> see you later this morning. all right, have you wait

exxon mobil plans to cut capital spending 12% this year. ber will be lower in 2016 and 2017. exxon says it is sticking to reduction targets that it made back when oil was still trading at $100 a barrel. shares are down more than 5% this year. one more sign the error are former ceo mike jeffries has ended at abercrombie & fitch. in a conference call with investors, they said they would be selling their corporate jet, one of jeffries' most prized perks. jeffries left abercrombie in december. stephanie: on that same conference call, the company tried to explain yet another quarterly sales decline. same-store sales fell 10%. the company apparently feeling to lower customers during the holiday season. the fifth straight quarterly drop. investors are hammering the stock today. shares are down almost 13%. it gets worse when you look at the longer-term chart. the stock is down by half over the last 12 months. so what is the question we are addressing this morning? chen abercrombie ever get its groove back? we have three great guest to get us the ans

when it comes to russia, exxon mobil is going long.gest energy company has been buying up russian oil drilling rights. exxon has four times as many holdings in russia as it does in the u.s. economic sanctions forced exxon to shut down one russian project last ball. the question is -- who will be the first one to shut up the immortal words "live from china, it is saturday night"? the show was the creator lorne michaels will team up with sohu.com. sohu already streams the u.s. version of "saturday night live" to viewers in china. olivia: shouldn't it be "friday night life" in china? tom: let me do a data check. we look at equities, bonds currencies, commodities, and futures -3 dow futures made of 19, the euro is weaker. $1.1160. careful watching. nymex crude back above $50, $50 .20 nine. the ukrainian currency has come in as the chinese remembernembi goes ever weaker the 10-year .102%. this is "bloomberg surveillance." i am tom keene. with the olivia sterns and brendan greeley. olivia: let's head over to switzerland where our internation

exxon mobil reiterating production targets even with the plunge and oil prices. natural gas will climb 2% this year. 3% gains in previous years. that forecast little change from year ago. frank route was $108 per barrel. sure is not now. a russian tech startup planning to hold one million smart phones. it will go on sale in north america and latin america. the phone is electronic paper screen on the back. kindle on the back and standard touchscreen in the front. the company says it will reduce battery usage. wildfires rage in towns near south africa for the fourth straight day. 12,300 acres on fire. the worst fire in 15 years. threatening to destroy homes, buildings and even some of the areas wineries. mark crumpton coming up at the top of the -- at the bottom of the hour. >> thank you. the affordable care law obamacare once again facing a legal challenge of the u.s. supreme work. justices today hearing arguments in the case of king versus burwell dealing with tax subsidies that some citizens could get. the argument based on just a few words established the state

now the supply has been drying up since the big fire at the exxon mobile refinery in tower residence. state lawmakers plan to hold several hearings on the gasoline shortage. drivers in san francisco are paying about $3.44 a gallon. in san jose it's about $3.36. and in oakland drivers are paying about $3.34. >>> forbes has released its 29th annual billionaire issue. bill gates came in number one. he has topped that list for 16 of the last 21 years. carlos slim came in at number two. mark zuckerberg number 16 on the list we think of him as being pretty wealthy but that is the first time he's made it into the top 20. >>> two men are in jail this morning accused of the brutal killing of an 84-year-old woman in sonoma county. coming up at 6:30 the two state police chase that ended in the arrest of one of those suspects. >> los angeles police shoot and kill a homeless man. the dramatic video of the confrontation and the reason officers say they shot the man even after using a stun gun on him. >> good morning, everybody. we are keeping an eye on your bay area traffic. there are pretty good s

i would rather stay broad and stay with integrated names like chevron and exxon mobil, which dominate have gotten so crushed in price, the dividend yield has gotten quite elevated. now you have one well north of the 10-year note. that wasn't the case at all for the last couple of years. in addition, you are not paying an expensive valuation. you are paying a slightly lower market. i think there is value here. >> steve cortez thank you very much. we have heard from so many people that the dividend is what is so attractive. >> hello, everyone. investors placing bets on corporate deals. ecb president mario draghi lays out his stimulus plan which starts on monday. wall street is waiting on the first of two report cards on the health of the world's biggest banks. "street smart" starts now. first, a look at the top stories.

exxon mobil plans to count capital's -- to cut capital spending to $34 billion. umber will be lower in 2016 and 2017. shares of exxon are down more than 5% this year. it dolls says it plans to use chicken rays without antibiotics and milk from cows not treated with the artificial growth hormone. the company says the change will take place within the next two years. the milk change will take place later this year. citigroup has agreed to issue most of its data cards on the mastercard network. the arrangement will last 10 years. it will start by shifting more of their consumer business to mastercard and continue to issue cobra and in cards on other networks. they announced a deal with lisa and cosco. federal reserve chair janet yellen is answering critics in congress who say the fed is too cozy with the banks it regulates. in a speech in new york she said the fed works hard to avoid what she called regulatory capture. >> we enforce strict ethics rules and promote strong values among our employees. among them, a commitment to public service. it is important anyone se

temporary loss of another refinery, as happened last month at exxon mobil refinery in southern california or a strike could curtail the supply. a major description in crude oil supplies due local conflicts. less u.s. oil protection for economic or environmental issues would restrict supply and raise prices. absent that -- >> i expect we will see a sharp drop at the pump. >> reporter: so take it when you can get it. tom vacar, ktvu fox 2 news. >>> a teenager with a lot of explaining to do to this father. >> real upset right now. >> the wild night teens had after a carjacking carjacking and how police chased him down. >> and an injury forced his student off his board, how he used his old boards to start a successful business. >> after the break, from light trine a warm up. the big changes on tap for your neighborhood in the coming days. bulldog: oooh! mattress discounters' $197 mattress sale! television announcer: get a serta mattress any size for just $197 each piece when you buy the complete set. the $197 mattress sale... bulldog: oh boy! television announcer: ...ends sunday. ♪ mattress d

not only is the crash not hurt but those on the sidelines waiting to make acquisitions like exxon mobiltalked last week about the opportunity to swoop in and buy cheap properties or the private equity funds that stand at the ready they have come up empty handed. given the fairly strong nature it's entirely possible that this company will entice multiple bidders. plus there's a major one here as many of the oils have to make acquisitions to keep their business growing. if oils stay even at these reduced levels i'm calling this the crash that never happened. at some point this year we'll see our oil production being curtailed a little bit and then the stocks will actually probably put on a rally but right now the oil is overflowing which ensures that it's in the car although it doesn't destroy the prospectors. we shouldn't expect many companies to go belly up at all and the fact that the money may not be needed. >> plus they're breaking even at much lower prices. no way. i would rather buy the restaurant and consumer market stocks because the consumer is richer. there will be more crude c

exxon mobil at least 60 companies helped by secretary of state hillary clinton during her time as secretaryhat ended up giving money to the foundation. does every deal have a string attached to it? probably. every deal shouldn't have a string attached when the secretary of state might run for president down the road. >> there is actual prid quo pros in washington. this happens all the time on both sides. i'm troubled by the fact that she took foreign money but let's not pretend it happens every time. >> doesn't make it okay. >> can't wash it away. >> if bill is involved and there is a string attached then string is attached to a bikini. what i don't get, chris ruddy runs news match right wing magazine, donated more than boeing. donated a million dollars to the clinton foundation. that is like code pink donating a million to cpac. it is a cover charge for something. what is the cover charge? i could use that money. i have more in common with chris ruddy than hillary and bill. why don't you give me a billion dollars. i have some serious debt. you get to go on the jet. >> i think there is a co

a fire at exxon mobil refinery took that out. that cost california 1/5 of the capacity at a bad time of year. wait, there is more. >> this is a time we always get price spikes as they switch from making winter blend to summer blend. >> reporter: in the bay area a gallon of regular averages $3.38. that is a penny higher than yesterday. 48 cents higher than a week ago and 87 cents higher than a month ago. >> we also have refineries that don't keep more than 10 days delay of gas on hand. which is a small country. the rest of the country keeps about 24 days on hand. no system here. it is a recipe for spiking prices here. >> reporter: because we have our own special blend of gas we can't trade it from state to state as other states do. despite investigations over many years no one found illegal price fixing but manipulate is a responsibility by -- poppings is a possibility -- manipulation is a possibility. >> i am not sure anybody has to talk about anything. >> there is nothing illegal about that as long as they are not colluding. >>

goldman sachs issuing a buy on the shares of exxon mobil. the firm says the oil majors among the few that will generate positive. the same time that they were negative on crude. but they are positive on exxon. totally different investments. >> thanks so much for being here. >> blowing up my fashion sense with the shoes. appreciate it. >> that does it for us. we'll see you tomorrow. right now it's time for "squawk on the street." >>> good morning and welcome to "squawk on the street." i'm david faber along with jim cramer. we are live from the new york stock exchange. carl is on assignment on this monday morning, but we're awfully happy to be here with you. taking a look at futures. a poor day for the markets, at least if you're along on friday. you can see we are looking perhaps up a bit. crude oil continues to be an important part of our overall story. where are we on wti? we're below 50. and the ten-year note yield after those jobs numbers on friday. it went above 2.2. can you imagine that? there we stay above 2.2. let's get to our road map

express now that it's going to sever its relationship with costco but adding an honors program with exxon mobile rite eight, macy's and at&t? >> i'm concerned. i dumped it and here's why. i did not know and i thought the company was a little opaque about how important costco was. i think that costco growth overseas was a makejor driver for axp. i think they're a sale. i don't think they're going to have the growth that i thought. more important, i felt let down that they had such a key relationship that they let go for whatever reason and never really told us how key it was until after the incident. dan in connecticut, dan? >> caller: hi, mr. cramer. before i give you my stock i'd like to say i've been a loyal viewer since i was in middle school when my dad first introduced me to you. now i'm a finance major at sacred heart university hoping to work on wall street one day. you have been a major reason why and i'd like to thank you for teaching us young viewers so much and keeping us so engaged in the stock market. >> i remember the group of kids from the university of texas today felt the same w

we specifically mentioned exxon mobil and connick could he phillips being the false ones. look at those today. look at tesaro. down today but trading a whisper of all time highs. >> that's an interesting one because we do continue to see the spread remaining wide. you think oil is going to rebound? >> i think oil is going higher. i don't think it's going back to 110. >> does that mean that refiners are not a good trade? >> the thing with refiners, it's all about that spread between wti and brent. i do think brent is probably the stronger of the two so that spread actually might be a little bit wider. i personally make the bet on oil going higher because you're going to start to see some of those supply changes come into the marketplace. >> not a dollar driven oil move? >> well, i think some of it's dollar. i think the dollar goes sideways. we're in a correction phase. it will be hard for the dollar to get higher. >> and those refiners, whether it's holley frontier or whether it's western refining wnr, tesoro, valero, all of these names will continue to work because unless

personally due to labor troubles at the refinery in the bay area and explosions at an exxon mobil facilitynia. --southern calif. >> reporter: in terms of a warm and dry trend we are looking at a fantastic weekend. overnight, we will clear things out with temperatures dropping into the mid to upper 40's it will be ticklish start for you print temperatures however, will jump into the upper 60s along the coast line and hit the middle of the '70s and the inland area. friday and saturday, near record one. here is a lie to look at what we are tracking down just residue making up for quick moving showers. making its way into south lake tahoe accurate with up more about the heat that is coming up and just a bit of explanation. -- >> catherine: there were several soldiers along the helicopter that went down in very heavy f o g patrick we are finding him remains and wreckage it remains clear that all 11 people were killed. >> catherine: there are a lot of questions rather they should have been out there and a dense f o cheaper it-- fog >> catherine: lee state but it is part of the job. >> the train

settlement reportedly pushed through by the office of republican governor chris christie, which saved exxon mobilbillions of dollars. new jersey quietly agreed to accept less than 3% of the $8.9 billion it had initially sought from exxon over pollution at two refinery sites. on monday, lawmakers asked a judge to reject the deal calling it "grossly inappropriate, improper and inadequate." one of the national football league's most promising rookies of the past season has announced he is retiring from professional football over concerns about the impact of repeated head injuries. san francisco 49ers linebacker chris borland, who is 24, said he made the decision after careful research into the links between football, repeated concussions, and neurological disease. borland told espn -- "i just honestly want to do what's best for my health. from what i've researched and what i've experienced, i don't think it's worth the risk." and those are some of the headlines. this is democracy now! democracynow.org, the war and peace report. i'm amy goodman with aaron mate. aaron: welcome. with prosecutions of wh

committee is taking a closer look at the christie administration's environmental settlement with exxon mobile $25 million deal enraged democrats who controlled the legislature. the reason court documents showed damage estimates of close to $9 billion. the settlement stems from a 2004 court case over pollution in linden. it must undergo a public comment period and be approved by a judge judge. >>> sky force 10 where crews spent 14 hours cleaning up the tractor truck crash. it wasn't cleared until 11:00 this morning. the crash happened on the 676 onramp and that truck filled with kiwis. the cleanup took so long because crews needed to remove that fruit by hand. a warning for drivers next week. penndot begins construction on a $160 million project to improve i-95. the work will rebuild ramps and improve connections if i-95 the betsy ross bridge in philadelphia's port richmond neighborhood. there will be a direct connection built between the bridge and aramingo avenue and the project is expected to last until fall of 2017. expect lane closures and new traffic patterns while that work is finished

proposed $250 million settlement of what had been an $8.9 billion pollution lawsuit against oil giant exxon mobil. they are now netting three cents for every dollar of estimated damage to the new jersey wetlands. chris christie can use a law he proposed last year to steer the exxon money to balance his state's budget gap. instead of putting it to words environmental restoration. this is barely being talked about. in reality, this seems bad on every level. >> yeah because you have this staring you in the face. that's what everybody is looking for. that's where the heat comes in. and by the way, chris christie we all know by memory the most famous political e-mail in the history after political e-mails. time for some traffic problems ft. lee. that was from a yahoo account in the governor's office to a gmail account in the port authority. are very deliberately circumventing official government e-mail. so in the hope that it could then never be discovered. it was discovered through the threat of prison coming in the form of a subpoena to david wilestein. ft saying you will bo go to jail for that. tha

. >> net neutrality, the recent ruling will hurt verizon, exxon mobil. probably hurt further. be the inverse relationship. but i would say you should bid a seller of verizon. >> one thing about the institution fwbs they're dumping qualcomm, they're dumping at the bottom. i think this is a great time to pick up qualcomm. we've learned more about their china issues once again. china sbesht, big brother. a lot of this priced in, royalties and valuations are matching up. >> speaking of china, still ahead. the chinese government banning purchase of technology from apple, ibm, microsoft and cisco, how much could it cost companies? the shocking numbers right after this break. ♪ at mfs, we believe in the power of active management. every day, our teams collaborate around the world, to actively uncover, discuss and debate investment opportunities. which leads to better decisions for our clients. it's a uniquely collaborative approach you won't find anywhere else. put our global active management expertise to work for you. mfs. there is no expertise without collaboration. money," i'm ka

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. >>> the christie administration's proposed $225 million environmental settlement with exxon mobil isnder legislative microscope in new jersey today. the assembly's judiciary committee holding a hearing on the attorney general's recently announced deal with the mega corporation. the cement end raging democrats because court documents show damages were estimated at just under $9 billion. the cement stemming from a 2004 court case over pollution from petroleum plants in north jersey jersey. >>> all right. you already know this it's the first day, full day of the ncaa tournament and march madness is already in full swing. >> all eyes on villanova wildcats who play their first game of the tournament tonight in pittsburgh. howard eskin here to take a look at their game with lafayette. howard? >> dawn, but they're also looking at what they're doing in their brackets, too. >> exactly. >> the heck with villanova. when my team gets beat and there were a couple of upsets already in the tournament. two, 14 seeds beat number threes that blew up some pools. but villanova plays in less than two hou

governor chris christie pushed through a favorable settlement the potentially save the oil giant exxon mobil millions of dollars. last week, new jersey quietly agreed to accept just $250 million from exxon after initially seeking $8.9 billion for environment of contamination more than a decade ago. the settlement came just two month after the state attorney general's top us made a strong demand for the original $8.9 billion claim, saying in a court -- quote -- bradley campbell, the former commissioner new jersey, department of environmental protection says governor christie's chief counsel, christopher perino -- and those are some of the headlines, this is democracy now!, democracynow.org, the war and peace report. i am amy goodman with nermeen shaikh. >> welcome to all our listeners and viewers from around the country and around the world. we turn to the supreme court which heard arguments wednesday in another challenge to the affordable care act, or obamacare. if the government loses the case known as king versus burwell millions of people would lose tax subsidies needed to help pay for pr

exxon mobil i believe is doing work with russia. we need to know what we are doing. to the extent that there is development there, and strong potential, we want to make sure the resources are there to drill and contain the spill if there is a spill. it is not a problem as much in the gulf, but you have a lot of -- it is a long way, a lot of time, and there is a much shorter season because of ice. lots to learn, and i think it is important that as companies show interest, as they have with the leases that have occurred, that we do it right. mr. verrastro: talking about climate change, and the focus on it by the administration in the interior department, so that when you look at energy production and renewables, how do you decide where there are areas that should lease -- primary spots that you think would be good for wind energy offshore? what is the process within interior? interior sec. jewell: first it starts with science. where are the areas that are consistently windy? and then, where it is consistently windy, what other attributes might that area have? is it a c