exxon mobil reporting its worst quarterly profit in nearly 13 years. and chevron seeing its profits plunge, triggered by impairments and charges, based on lower oil prices. exxon noted that higher profit in refining couldn't offset losses in its upstream businesses. that's the exploration and production side of things. exxon making a move to conserve cash confined to the market but it doesn't expect to see a quick rebound in crude prices. the company planning to scale back share buybacks by half, quarter on quarter. and chevron, which stopped working on projects because it didn't see a rebound in prices, was forced to take a multibillion dollar charge. ceo john watson saying second quarter financial results were weak, reflecting a crude price decline of nearly 50% from a year ago. and that is upstream businesses were particularly hard hit. >> big oil is telling us that they still believe the market will be going lower. there's no question, they are not happy with what's happening and their profits are showing it. >> cost cuts continue. chevron and exxon

exxon mobil was the most valuable company in the world by market capitalize asian. it is still struggling with production revenues. the world's number three chevron has been hit hard. british oil company shell and bp have reported a drop in profits of 37 and 64% respectively. even though the oil giants are making money, they are all responding the same to the crisis. that is because the industry expects prices to remain low for a long time to come. >> there is bubbling under kenya's river valley. a huge drill it is having into a more sustainable energy source. geothermal energy only accounts for 17.5% of kenya's energy mix. when that happens diesel powered generators kick in. there are major economic consequences with the power going out all the time and electricity costing up to six times more in kenya and a lot fixing to that is where geothermal sources could help. kenya's president wants to make his nation a global leader in renewable energy sources. we asked a correspondent were kenya stands right now. >> it is successful to all the countries where the rift vall

cuba nationalized private property and confiscated industries, exxon mobil, coca-cola and that droveent out of the country. the reason for the economic trade embargo. having this flag here says there's some legitimacy here and that cuba is open for business. >> and of course those repossessed properties those confiscated properties are a big topic of republican opposition to this opening of diplomatic relations. a lot of those businesses were small to even medium size businesses. cuba says that's not going to happen, what about the others that had their businesses confiscated are they going to let that go or seek legal redress from the cuban government? >> you know there's a lot of gray areas and it's a really complicated issue right now but basically what we're looking at here is estimates anywhere ranging from $7 billion of confiscated properties, that amounts to the industries, and then residents who have fled omiami. from the industry analysts i've heard, chances of reclaiming that property cuba has made to indication of that. when you talk about the coca-cola or exxon mobiles th

also, exxon mobil, what's going to happen with oil prices? an affect on the trade for exxon mobil shares? of course look at what's happening this with american express and proctor & gamble. make american express bottomed outing maybe pricing in of the costco business being lost will be in the stock already. proctor & gamble shedding businesses, it's a company in transition. now, apple and american express, two of the lower dividend yielders on the dow right now, but exxon mobil and proctor & gamble are two of the heavier dividend payers. we want to know which stocks move on. definitely tweet us. #buythedip. go online to cnbc.com vote as well. just take a look at tweets that we're going to put up for you. tweet us why you think those are. this one here, bk 14875, my selection based on overall valuation has to be apple with dividend increases. another interesting one, you've got it see what's happening with another one, exxon mobil over cat due to the fact i have no oil exposure, cat bi zichlt is poor, oil close to gbottom. ibm monetize technic

bryan kick it off. >> exxon mobile. >> sprint. build a position. >> roll the hedges and volatility is back. looks like the time has expired. thank you for watching and see you back here next friday. in the meantime don't go anywhere. mad money with jim kramer starts right now. now. >> announcer: the following is a paid presentation for the nutribullet rx, nature's prescription nutrition extractor, brought to you by nutribullet llc. >> my stomach issues literally went away. >> my acne has cleared up. >> my hot flashes have subsided. >> i'm saying goodbye to diabetes. >> my shoulder pain has gone. >> i was able to sleep better at night. >> i've lost 100 pounds. >> announcer: over the last two years, all across the country, an astonishing 10 million people, at a rate of 15,000 a day, have joined the nutribullet healing revolution, using the power of nutrition to completely transform their health and

i imagine among them exxon mobile >> exxon mobile hit a new 52-low, in fact, let's jump right to it. at one point it was down 70, it was trading at $72 and the low today was 72.07 cents. so especially in that last hour of trading, exxon mobile got hit because of oil at one point trading below $40 a barrel and there's still demand for oil but investors wondering how much longer can that stand. but, look, chevron got hit today too, they were down 4% and also hit a low, $75.71. and big looser was apple. those are two words you never say with apple; right? big loser. but their growth is coming from china, they close down today ruffle 5%. microsoft down as well. about 5.5%. nike was down today. some of the apparel companies, macy's, target, goldman sachs, down 4.5% today. melissa. >> okay, adam. thank you very much. it's not just stocks, by the way. oil having the worst week in 29 years. phil is a trader at the fox business contributor. phil, let's put it in the context of stocks because that divide between the low price of oil and these high price stocks was getting wider and wider. a lo

exxon acquired mobil. chevron purchased texaco in 2001 and unocal in 2005.ow it is one of the world's most profitable companies, with earnings of almost $20 billion year and a market cap of $200 billion. there is a lot that chevron shares with the other major producers beyond profits and a standard oil ancestry. it is frequently the target of protests over climate change, environmental damage, and human rights violations in developing countries. [chanting] >> chevron. >> guilty. >> chevron. >> guilty. erik: there is even an international anti-chevron day. plus, chevron ranks up there among the industry's top spenders on government lobbying, raising concerns about the influence it wields over politicians and regulators. what divides chevron from the rest of the pack is strategy. >> they did a lot better than their peers. because they made a bet on oil, not natural gas. exxon and royal dutch, for example, made huge bets on natural gas, which, unfortunately for them, has not really lived up to expectations. chevron, on the other hand, made a bet on oil, and it

exxon mobil about 5%.st for chevron versus treasuries and all the records we have going back to the early 1990's. howhe question obviously is -- olivia: is a 30% stock drop worth of 5% dividend yield? >> and well lit drop further? if you buy today, will it keep dropping? pretty much impossible western to answer. will these companies cut their dividends? you can have a little bit of confidence they probably want -- won't. oil had a much bigger collapse after the financial crisis than it is having even though. chevron and exxon were able to grow the dividend. both of what is called the aristocrats index, companies that increase their dividends for 25 years. regardless of how bad the dividend is doing. they will still cut the dividend. >> exxon is cutting the buyback program in half. on a conference all they said we are committed to growing the dividend. that 3% real good even get higher if they are able to grow the dividend. that is incredible. they will cut the buyback but still pay the dividend. is right.

>>> in new jersey, a $225 million settlement between the state of new jersey and exxon mobile tonight is a done deal. it has been approved. the judge giving the green light to the compensation of dozens of polluted sites including refineries and gas stations. the christie administration says it's the second largest of its kind. exxon mobile will pay a hefty price it's below the $9 billion what the garden state originally wanted. >>> new information on violence on a train in france. authorities in paris are opening a terrorism investigation into the attack. they say the 26-year old ayoub el khazzani were on the train. three americans and a british man tackled ayoub el khazzani before police arrived. >>> a man trying to break up a fight ends up dead in new jersey. coming up, hear from his brothers who say they aren't surprised he jumped in to help. plus, cracking down on synthetic marijuana known as k 2 and spice. what new york lawmakers are proposing today. >> a dramatic increase in citi bikes stolen out of their racks. but how are thieves able to take them. >> i'm meteorologist lee go

>> well, exxon mobile may have -- >> typically oil that's really vulnerable would you sell a loser ord onto the winner? >> in this market, you want to be in the winner and the winners keep going higher, and we keep seeing this. you look today at the stocks, and you see disney again, advanced auto parts, impersonal millions. >> but that list is getting smaller and will smaller. >> i know. >> i think there are 100 new highs and 600 new lows. so we have more and more hitting 52-week lows -- >> well, much as an investor should have a long-term approach. and that's why we talked about energy, for example. wvu a ten-year hyphen, which every investor should, yeah, you should be investing in phillips right there. you should be in chevron. >> do you see a bottom here any time soon with respect to brought the market or typically the oil market. >> i think we do is support here. we've done okay with the earnings. and we had a very good auto sales number. we're averaging 17 million autos -- >> although let me just say i'm worried about the length of time of some of these leases now. a record amou

caterpillar and exxon-mobil. exxon-mobil won that battle.ple ended up winning. it came down to this. you viewers, you tweeters you readers of cnbc.com you voted on all those platforms and it came down to apple beating exxon-mobil. maybe not a surprise for many but still having given the way exxon-mobil's been trading down so far. on this side of the bracket, you had american express and procter & gamble emerging from this particular bracket. a amex and p&g. in the end it was procter & gamble that won this particular bracket. our finalists when it comes to these dow stocks that are in correction territory is apple versus procter & gamble. what's interesting about this match-up, one of them a big growth company, the biggest company in the world, one of them is hit near two-year lows in today's trading. a big dividend payer, not as big a dividend payer but again a lot of dynamics emerging here. we'll have the winner of this particular segment here coming up on "closing bell." so again tweet in to us use the hashtag buy the dip. go to cnbc.com v

. >>> a judge's decision to approve a settlement deal involving exxon-mobil could soon be appealed. the $225 million deal was reached between the state of new jersey and exxon-mobil over pollution at dozens of sites at gas stations. now they're concerned over the delayed cleanup of a creek could provide an opening for an appeal. >>> more fallout from last month's hacking of ashley madison.com. the company which owns the adultery website is facing lawsuits from at least eight clients who say the site failed to protect users' personal information. police in canada say the data breach has sparked extortion crimes and two unconfirmed reports of suicide. >>> lifetime means a lifetime, not just five years. that's the message from consumer advocates on the subject of household items that offer lifetime warranties. wasn't the case for one consumer in san francisco when he tried to return some blinds with a limited lifetime warranty. the company toldle:the warranty was only -- told him the years. y was only good for five >> i thought this was a great deal. i'll buy the line and not worry abo

exxon mobil was the most held stock in the end of the first quarter. wasn't in the top 20 by the end of the second. chevron fell from 19th to 20. no energy stock in the top 20. that's the first time this has happened in many years. >>> now the iranian oil minister has urged an emergency opec meeting which he says may help stabilize the price. according to the iranian news agency, he said iran would be endorsing a meeting prior to the next scheduled one in december. that calls for algeria as the crude price begins to slide. brent at 43.5 and wti at 38.80. oil prices may be sliding but u.s. gas prices aren't tracking those declines at least at this point. the latest lundberg survey shows the national gas price held steady at 2.71. a refinery outage is off setting cuts in the west. gas prices down 70 cents from a year ago. lundberg says lower crude prices could cause refiners to slash prices. still with us is michael east ham, president of the fellowship financial group. what do you make of the recent oil prices? is it good or bad for stocks? >> well, i t

well, chevron and exxon mobile both got hit hard by what's going on in oil. in the case of chevron, they had a new 52-week low, $69.58, exxon mobile, they also had a new 52-week low, $66.55, if you want to call them winners, there were some winners if you look at it this way. ford motor company, at one point they had a 52-week low of $10.44, but they shot up to 26% higher than that. so this was a rough day for a lot of stocks but most of them that hit the 52-week low were able to crawl out. deirdre: and you covered apple because apple was as much as 10% and then closed down something, like, 2%, which -- shows us the whip lash. >> but here's the thing with apple. they hit a 52-week low, $92, but if you're going to pick a stock based on future growth and parts of the world where they're going to grow. tim cook has said our growth will take place in china. i mean cue homer simpson going doe. china? really? this whole discussion is about global growth slowing down because of china. but someone believes apple was a real bargain, and they bought it and they believe

exxon mobile. i chose not to go for the higher-yielding chevron.nk this is the one you buy and hold. >> what about the other two names he was talking about. >> bea aerospace is an interesting name. it's a good story and the stock is down by what, a third. i like that, what i don't like to see, the concerted effort of five insiders going to buy. because that's almost like we're all going to do it let's plan it out. >> interesting. >> huh. >> i've seen that before. >> planned messaging. >> exactly. >> very good terminology, it's why you're there and i'm here. because you can do that. i like the company. i still like the aerospace segment and the airlines being down to me is crazy. they're down because oil is up. but yet when oil is higher the airlines are higher and fundamentals are still good. >> i'm so naive to think they would actually did that on purpose. >> coming up can amazon rally 20% from here? one analyst says yes, it's our call of the day. he's going to join to us defend it. >>> next after that. halftime is right back after this. you total

exxon mobil said they will not sponsor you this year. is this because of the funding controversy? mr. clinton: i think they don't want to be involved in politics. they don't think we were ever political. there has never been a foundation with a more prominent political person involved. i have had george and laura bush here, mitt romney, john mccain and sarah palin came. rupert murdoch and his son and his foundation giving money to us along with mayor bloomberg. we just solve problems. there are people who just don't like bad press, and you cannot be involved in american politics without somebody attacking you, and i think the fact there are so many other channels like bloomberg and social media, if someone wants to go negative -- it is sort of a tribute to my wife that it all happened now. [laughter] and we have got all this social media and the alternative ways of communicating. in the end, the foundation will stand or fall on the work it does. betty: knowing the outcome now, is there anything you would have done differently with the foundation? mr. clinton: there may be a thing

. >>> a judge today approved a settlement between the state of new jersey and exxon mobile, a settlement that opponents called a sellout. the state originally sued exxon for $8.9 billion in 2004 for pollution, dating back decade. but the the christie administration and exxon, agreed to settle for 225 million-dollar. opponents, and democrats say that is just a fraction on of what new jersey should have recovered. governor christie hailed the deal as the nation's second largest of its kind, against a corporate polluter. >>> 1,000 trump taj mahal casino workers are getting ready for a possible strike. the members of the local 54, unite here union, packed up a storage contain tore day with items that they would use in the event of the walk out. union officials began training, so-called, picket captains. the union authorized a strike last month, which means it could come at the anytime. >>> three pennsylvania state lawmakers are proposing new legislation to protect pets, left in cars. the bill would make it illegal to endanger a dog or cat by leaving the animal in an unintended or unattended

exxon mobil said they will not sponsor cgi this year. is this because of the funding controversy? mr. clinton: i think they don't want to be involved in politics. they don't think we were ever political. there has never been a foundation with a more prominent political person involved. i have had george and laura bush here, mitt romney, john mccain , and sarah palin came. rupert murdoch and his son and his foundation have given money to us, along with mayor bloomberg. we just solve problems. there are people who just don't like bad press, and you cannot be involved in modern american politics without somebody attacking you, and i think the fact there are so many other channels like bloomberg and social media, if someone wants to go negative -- it is sort of a tribute to my wife that it all happened now. [laughter] mr. clinton: and we have got all this social media and the alternative ways of communicating. and i think in the end, the foundation will stand or fall on the work it does. betty: but knowing some of the optics now, is there anything you would have done differently with

exxon mobil said they will not sponsor you this year. is this because of the funding controversy? mr. clinton: i think they don't want to be involved in politics. they don't think we were ever political. there has never been a foundation with a more prominent political person involved. i have had george and laura bush here, mitt romney, john mccain and sarah palin came. rupert murdoch and his son and his foundation giving money to us along with mayor bloomberg. we just solve problems. there are people who just don't like bad press, and you cannot be involved in american politics without somebody attacking you, and i think the fact there are so many other channels like bloomberg and social media, if someone wants to go negative -- it is sort of a tribute to my wife that it all happened now. [laughter] and we have got all this social media and the alternative ways of communicating. in the end, the foundation will stand or fall on the work it does. betty: knowing the outcome now, is there anything you would have done differently with the foundation? mr. clinton: there may be a thing

last time you were on you joined us in january, you recommended at&t which is flat since then, exxon mobil which is off more than 20% and johnson & johnson down 10%. i know that exxon is one of your picks today, but let me ask you about those other two, intel and j & j, are you still comfortable holding them? would you buy more? >> absolutely. >> why? >> in both cases in businesses we need they're understandable businesses, intel, you can't run your computers without them. johnson & johnson, we wouldn't have the life expectancy we have without their products. they're also strong businesses. financially they have little debt. they're going to be around a long time. >> what about exxon though, randall? i mean, if this oil cycle is going to be longer than we've seen previous cycles and we're not yet at the bottom in crude, how is that going to impact exxon's bottom line? would you buy more here? >> absolutely. we would buy more. in fact, we're going to do something that i hope you see as courageous. we would double up. >> really? >> oh, yes. move money into chevron also. we've been owning in

falling oil prices are taking a toll on companies like exxon mobile and cheveron and that dragged down the market yesterday. dow jones fell 162 points, nasdaq dropped 40. from oil to electric, audi is rolling out a new electric suv traveling more than 310 miles before it need to be recharged. car will start production in 2018. analyst are already saying it will out perform rival tezsla, which is set to roll roll out its model x, suv in a few weeks. >>> target could be back on the mark, recent earnings report was a lot stronger then many other big retailers. target appears to be ring back its reputation by offering more cheap and chic options. targeted added mankins in stores, restyled jeans and plaid clicks including diapers and blankets. >>> passengers rights group says delta is shaming travelers, into upgrading their seats. their new base ache economy ticket is more like economy minus, passengers are told there is no ceta sign. until after check ins, seat can't be changed, and they will be among last to board which means there can be no room up in the overhead bins. i hate that, erik

exxon mobil went straight up throughout the day, hit 25 million, 28 million shares. mal volume for exxon. straight up, visa, high for the day was, you know, below 68 at one point, we were below that, and you can see we ended -- the charts look the same. home depot, was 114 and change after the open and we passed that, as well. finally, the vix collapsed in the last hour as everybody could see that there wasn't going to be heavy selling at the close and right at 30, we were at 2990 right here going into it. i can see we closed at 30, still, big move to the downside in volatility throughout the day. 619 points on the dow jones industrial average. >> say it again, 619 points. joining today's panel, we have cnbc contributors john najarian and carol roth. and with more is guy adami. dr. jay? >> massive volume. third biggest rally in history. the big rallies came in '08, kelly, when we were digesting lehman brothers and what the government would do to stop the bleeding. and we had big selloffs, rallies, same thing as we're seeing right now but without lehman brothers. >> lo

exxon mobil representing what we continue to see in energy.loff in oil prices and energy stocks. wells fargo in financials. down, but definitely coming back. in terms of what contributing most any gains, we are limiting the loss in terms relative to rate. intel upup by 1% and by 2.3%. both stocks recovering from declines. the company being acquired by southern company, that stock is up 29% because it is being acquired. we have a deal that has been out throughout the day. mark: senior market for us on in julie hyman. it has been a stunning day for the markets. the s&p down 5.3%. matt: it had been down this morning about 21%. joining us is associate portfolio manager. thanks for joining us. i wonder what you make of the moves. calmly told us that he thinks a lot of the trading at the early open was computer trading that took us down so far. but who is behind the buying is the question i have. >> you have two problems that are somewhat interrelated. one is the problem with china that was really an act that it waiting to happen. thing has been con

of exxon-mobil, who chairs an advisory committee to the u.s. department of energy released a report saying that onshore fracking in the united states is going to peak in about a decade, because well depletion rates are very significant. he said we need to start exploring in the arctic now because it's going to take about a decade for wells like what shell is drilling for to come on. that's what they're thinking, but the issue here is that a big investment in arctic oil development comes with enormous risks. it's very expensive. it has huge environmental risks and the question is shouldn't we be focusing instead over the next decade of developing alternative fuels and the electrification of the sect tour. those are more sustainable in the long run. >> very interesting talking to you, thank you for your time today. >> south korea's government is trying to export its policing techniques and equipment in the same way it has entertainment. this hasn't come without controversy. >> protest is almost part of the d.n.a. seems this rallying against the h

how about they seized coca-cola plants, exxon mobile, hilton hotels.l it even. >> that would be the funniest thing that he called it even because he seized these huge p cs. is he still calling the shots or is it raul who has so much personality? >> the propped up fidel castro is running the show. >> weekend at fidel's. >> the great thing is the classic cars. and they will open it up and we will go down there. there is actually a shell of an economy and nobody can buy a new car so they refurbish the old ones. >> about the specific notion of them having these amazing cars people come up to me on the street and have been talking about this. i look leak i know something about cars. people come up to me and assume i am a guy who knows about gears. what i have been told is all of their cars can't get parts, and so you are driving a buick with hyundai parts. the idea of a pristine car collection does not exist. >> people say oh now with the embargo it is all of those wonderful old cars. we will see the end of the cuban life. they row -- romantasize the peasan

terms of index points, we have the financials in the form of wells fargo and jpmorgan and then exxon mobils also pulling back. it remains a very broad based selloffs. we will continue our coverage of the stock market selloff. let's take a look at some of the top stories. one of the nation's largest utilities once to capitalize on the demand for natural gas. southern company has agreed to buy agl resources for $8 billion in cash for that represents a 38% premium to agl's closing price on friday. southern is the third-largest utility owner in the united states and agl is a natural gas distributor. the private equity firm sycamore partners has agreed to buy belk. that is the department store change centered in the south. the price, $2.7 billion. belk has almost 300 locations in 16 states. sycamore invests in retail companies and tries to reinvigorate them. olivia: most business economists expect the fed will raise interest rates before the end of the year. only 37% say it will happen as soon as next month according to a new paul from the national association of business eco nomics. director a

exxon mobil, chevron, conoco phillips, baker hughes. it was interesting.ost were very much across the board down. we are seeing oil investment. >> what is the bomb? i want a number and i want to know when we will see $2 a gallon gas. >> we could go down to $25. >> when your with a falling knife you can call the bottom. >> where does it go? >> i think it could get to her hillary is. >> no, we are going to go much below $2 because that is about refining. >> i want to numbers from you.you. how lotus oil go and when we see $2 a below? >> we are holding $38 a barrel. the although right after the selloff which would be about 3195. those are your two big numbers. gasoline prices, report from the ia, the lowest they have ever been for this time of year and six years. we are seeing the trend go down. two dollars a gallon will we will be reachable this year because of refining problems. >> we would love it for the holiday shopping season. stocks did close down as we have been reporting, settle down 588 points. it did trade down 1,089 points at the low. that happened

a new jersey judge has brokered a $225 million case between chris christie's administration and exxon mobilristie administration hailed the deal as the second-largest of it time against a corporate polluter. critics say the settlement is a fraction of the nearly $9 billion new jersey should have recovered. and a deal that would make exelon the biggest utility in the u.s. by customer accounts now appears to be in jeopardy. regulators voted against their bid to buy pepco unanimously. didattorney general said it not provide enough benefits for consumers. regulators in four state had already okayed the takeover. and saudi arabia plans to cut billions of dollars from next year's budget because of the slump in oil prices. bloomberg news is reporting that the saudi government may delay or cutback infrastructure projects. oil accounts for nearly 90% of saudi arabia's revenue. petri, ofith thomas petri partners about the collapse in the price of oil. thomas: it really turns a lot on what the saudi's do. the report you just had was an important one this morning, the cutting of capital and infrastruct

exxon mobil and chevron gaining 2% in trade. those have significant exposure to the chinese market. in today's trade here on thursday some of those stocks staging a rebound specifically in the luxury and auto sector. can this rally continue if the pboc continues to sper convene. the xetra dax and german markets up 1.5%. if you take a step back they're still in correction territory down 10% from the recent highs. we're higher around 1.6% and the italian market with a gain of 1.7%. the euro stoxx 50. this is a good gauge of stocks across the euro zone. we have been seeing the euro hold ground around 109 and 110 against the u.s. dollar. right now thanks to the move in the german and french markets the euro stoxx 50 index up by 1.5%. >> 214 soldiers are on their way to the city of tianjin where a series of explosions at a factory killed at least 44 people according to chinese media. 15 hours on from the blast and fires are still burning on the site. concern is growing about the after effects given the nature of the hazardous chemicals used. kelly filed this report. >> reporter: a first

claims at this point, partly because the corporations that have claims you know exxon before it was exxon mobil has a claim, there is a variety of other consumer good companies and whatnot that had claims. a lot of the major corporations now are focused on how to repeal different aspects of the embargo. and so you know their lobbing efforts are focusing on, you know, congress and how to provide more opening with regard to cuba. >> as you point out those companies want to do business in cuba and they may have incentive in overlooking the past in the way former citizens would not. mr. marzack what does government really expect to see? we have heard the report from havana there is a $100 billion figure on the table but it's likely inflated as a negotiating starting point. what do they really want? >> rather than being close to the u.s. number they're putting out a number that is really going to they hope you know, not allow for the united states to really be able to get the full $7 billion in claims that it really desires from the cube ans. cubans. >> it's held out as something necessary but it do

pump, but dislocation for oil producers for dakotas and oklahoma and texas and the giants like exxon mobilethey will struggle with this. it is almost a perfect storm. demand is falling from china and japan and the production is rising. u.s. shale producers, that count is going down, but production is not. saudi arabia is fighting for market share in the middle east along with russia. three giant producers and nobody is cutting production. at the same time demand is falling. expect prices to go lower here in the second half of 2015. citigroup is suggesting we could get to $33 a barrel before the end of 2015. >> amazing to hear that price. let me ask you this, a wild card in this is opec. what are the chances that opec could cut production and throw a wrench in the oil prices? >> reporter: good question. i spoke to a number of associ e associates here in the arabian peninsula. they said below $40 a barrel for u.s. benchmark. iran in the last 48 hours asked for an emergency meeting to shore up production. there is a lot of production. algeria and nigeria. they are suffering because 90% of the

. >> now you probably heard bp had a spill or exxon mobile and the media was all over it.e have something more serious going on in colorado and new mexico right now. but the epa caused this one. the environmental protection agency. but where is the media outrage on this one after this? nice shot! you know rickie, for every hole in one at a pga tour event, quicken loans is paying someone's mortgage for an entire year. well, let's do it. let's pay some mortgages! ♪ the quicken loans hole-in-one sweepstakes. with so many lucky winners already, the next mortgage we pay could be yours. i could do this all day. enter the hole-in-one sweepstakes today at pgatour.com/quickenloans i know, mommy, but it's time to let the new kitchen get some sleep. ♪ if you want beautiful results, you know where to go. angie's list. everyone can shop for services from highly rated companies, even without a membership. but as a member, you can save more. and you get exclusive access to ratings and reviews. angie's list is there... for all your projects - big and small. pretty! come see what the new a

. >> right, well i think some of that was explained in march of this year when rex the ceo of exxon mobiledvisory committee to the u.s. department of energy released a report saying that on shore fracking in the united states is going to peak in about a decade because of well depletion rates and need to explore in the arctic because it will take a decade for wells like what shell is drilling for to come on and that is what they are thinking. but the issue here is that a big investment in arctic oil development comes with enormous risk, it's expensive and huge environmental risks and shouldn't we be focusing in the next decade of alternative fuels and the transportation sector and these are the types of investments that are more sustainable and i think better economically in the long run. >>> the u.s. government is changing its tactics in the fight against drug addiction and fatal heroin overdoses in the united states almost quadrupled in the past decade and now instead of being prosecuted they will get help to overcome their dangerous habit, this is from tom ackerman. >> reporter: no where