there's a lot of signs that the geology looks better and will work longer to majors chevron and exxon mobil have both announced in their wall street meetings in the last week or so that they have big plans for permian and exxon mobil as in the tradition is moving moving vertically and. going for production but they've got a partnership with all american pipeline to put a line at a million barrels per day so monster pipeline to get over to the coast when you look i love scary too but i love that picture the satellite picture you've seen it before at night of the per minute with a huge you know it looks like it's new york city in the middle of texas there in the southern part of texas rather by houston and san antonio crazy picture but with that you think oh they're doing all this work and they're going to gangbusters but the forecast as i recall are for the permian to sort of top out in the mid twenty twenty's and then start to decline is that still on the table or make people sort of shift their view i think that at least these two major oil companies have shifted their view that they the e

but this is a very contrary and position by the majors and that's going to be very interesting exxon mobil about ten years ago but there's shell expertise by acquiring next c.e.o. and so they have the same kind of chops in this is anyone else their big challenge is turning that battleship this may be unfair to ask you a bill but i mean what's the sort of balance between the independents and the big guys i know there's a lot of independents there but if you ever seen any statistics on sort of the breakdown roughly. i haven't seen that recently but the independents really have generally had the majority of the production you know in the majors have been focusing on the big overseas and deep water plays and this is a pretty significant change in their portfolio strategy and that's why we love having you i want to get to this last story before we get out another it's so great when you happen to be here for this day and then there's another great story in the news the largest sovereign investment fund in the world norway who would have thought good for norway a trillion dollar. they're pouring

the dow also seeing for performances by exxon mobil and the energy companies.mining sector is up in europe. parts sector is down and that is why the dax is underperforming. the ftse 100 has lost some. this is bloomberg. ♪ so with xfinity mobile i can customize each line for each family member? yup. and since it comes with your internet, you can switch wireless carriers and save hundreds of dollars a year. are you pullin' my leg? nope. you sure you're not pullin' my leg? i think it's your dog. oh it's him. good call. get the data options you need and still save hundreds of dollars. do you guys sell, other dogs? now that's simple, easy, awesome. customize each line by paying for data by the gig or get unlimited. get $250 back when you pre-order a new samsung galaxy. click, call, or visit a store today. we are wrapping up the european trading day. 30 seconds until the end of regular trading in europe. the mining sector with a fairly solid day, that is why london is outperforming. the auto sector with less of a good day. although fiat chrysler has had a good sessio

arehe big three were and bp, exxon mobil and conocophillips. over time, the names have changed as companies merged and absorbed each other. early in the day, what is now conoco was really >>. the big three players have not changed much. the big two are bp and exxon. >> you mentioned their influence over the legislature. what does that mean for regulations, regarding oil in the state. was always an enormous battle to get any new regulation in place and the trend really ran in the opposite direction. regulations tended to get looser, not tighter. most regulation having to do federal operation were in origin and focus. the regulations having to do with cleanup were fundamentally at the state level. that was part of the problem. regulations were a big part of the problem with the spill. the state oversight of cleanup is why the- that company that runs the system in wasce williamstown unprepared for cleanup. for the first three days or so, there was essentially no cleanup effort. -- they had three days of really good weather after that spill. they h

everybody on the screen is down from schlumberger to halliburton and exxon-mobile for the dow components and you can see halliburton getting hammered so down 4% not a good day for those names. general electric falling again after wednesday's sell-off, the biggest two-day percentage drop in nearly four months, jpmorgan an a test steven tusa is saying his $6 price target on the company looks generous, after ceo larry culp forecasts yesterday negative cash flow from its industrial businesses this year, so right now we're looking at it down about seven full percentage points you can see what it did yesterday i believe it was down about 6% so anybody who got excited that ge hit 10% well that's in the rear view mirror right now. speaking of right now, we're in the pre-dawn hours in japan, where high flying auto executive carlo gone is now out of jail at 1 billion yen, actually about $9 million. he came out and you can see he's wearing a face mask but earlier he was disguised like a construction worker in japan, he was wearing a hat and then this uniform and he walked out of the japanese detent

stan: the big three were and are exxon mobil and conagra foods. the names have changed. early in the day, what was conoco was really are co-, but the big three players have not changed much. the big two are still bp and exxon. >> you mention the influence over the legislature. what did that mean for regulation of oil in the state it wasn mark stan: always in a norm us battle to get any new regulation in place. the trend tended to run the opposite direction. regulations tended to get looser, not tighter. to doegulation having with the operation of that tanker, the exxon valdez were federal in arjun and focus. the regulations having to do with cleanup on the other hand, were fundamentally at the state level and that was part of the problem. regulations were a big part of spill.blem in the the federal side, it was too loose. the state oversight of cleanup readiness was too loose and that is why the company that runs the sound in prince william was just unprepared for cleanup. so the first three days or so, there was essentially no cleanup effort. they had uncharacteristical

a fire at the exxon mobil plant in nearby baytown that broke out saturday has been contained. >>> san francisco mayor london breed is calling out a giants ceo for his actions. she was larry baer to be accountable for an incident that went viral. the struggle was between baer and his wife on march 1 over a cell phone and then his wife fell to the ground. london breed called the actions of baer serious and ron. she joined members of the bay area violence community to call on the baseball organization to do something about it. >> we need to hold our leaders in the sports arena to a high standard of excellence so we send the right message. >> at the conclusion of their investigation, they should apply the same consequences to owners, executives and managers they apply to players who find themselves in the same situation. >> baer is taking a leave of absence from the giants. the giants say they take the matter seriously and is withholding comment while the situation is under review. >>> the ceo of warner bros. entertainment is stepping down amid allegations of sexual misconduct. this moose

the dow jones shedding more than a hundred and twenty points with fizer and exxon mobil oil both lacking. the nasdaq and s. and p. five hundred both trading down about two thirds of a percent. what is international women's day were shining a spotlight on female entreprpreneurs in europe women make upp more thahan halff the total europeaean population but only about a third of the e. u.'s self employed workers? and start up entrepreneurs. female entrepreneurs often face greater challenges in securing financing and training. to combat this the e. u. individual governments and private institutions have lunch programs aimed at supporting women who want to start their own busines. and one of those initiatives is the cartier women's initiative. i which offers training at networking and even cash prizes for winnerss of their annual competition. i'm joined now in the studio by one of the finalists this year french entrepreneurs he never got me. as you know but you are the founder of easy gain a paris based tech company that helps people with limited mobility track their progress at home. and sen

group of companies includes exxon mobil shell chevron bp and hotel. companies all publicly endorsed the fight against climate chang. but the ngo says their actions fail to live up to their words. finally for me tesla is accusing a former employee of stealing intellectual property worth hundreds of millions of dollars and selling it to a chinese rival. the lawsuit the automaker said an engineer upload files about the company's self driving car project he was personal i caught a cloud a account. it in n love testerr to work for chinese automomaker x. m motors actually the second time x. motors has been accused of stealing trade secrets in the u. s.. a subject that's a major sououre of tension between washington andd beijing and want everything down -- is nott showing much signs of f fag it's it't's stitill there indeed this continue to go on we are seeing that the blowow back -- the six closer ties thank you very much so that coals standard there with the day's business news gonna take a quick break stay with us more to come this fancy 03/22/19 03/22/19

moved in recent years to position itself as a significant export of liquefied natural gas l n g exxon mobil which has entered an elegy partnership with the end darko company to develop mozambique n l n g says that is a donated three hundred thousand dollars to disaster relief efforts. and the trump of ministrations interior department will auction off more oil and gas leases for publicly held offshore areas in the gulf of mexico the auction is widely expected to be the preface to a proposal to allow more offshore drilling of public assets in the arctic ocean the atlantic and the pacific for private profit climate experts say it's absolutely necessary to immediately cease such efforts and redirect human activity toward non polluting energy sources to stave off the worst effect of human induced climate change industry observers say the move by the trump administration represents a significant expansion of the obama administration's options on the outer continental shelf of the gulf of mexico. and we're speaking of our earnings a little bit earlier and we love looking at all of these companies

you look at some of these energy names, extremely inexpensive exxon mobile is back up now. exxon is back at 81 or pushing on 81. we are seeing a nice move to the upside from other areas that we hasn't seen. when you look at how inexpensiv financials are, it makes sense we could still have room to the upside i'm one of the believers that think we do. >> do you want to agree with that or disagree >> i agree the point is if you take together a couple of thing, to your point about interest rates that are low and the fed says we will keep them low why do you think financials are doing well now they aring loog e looking ae slope and say we talk about the inversion. the fed -- >> it's still flat it's flattening. >> it's flattening yields respearen't going anywhe. >> we're not going into inversion and that's really important. >> not yet >> if that does happen then you can have central banks on your side and bring rates down. that's a key indication. the banks aren't doing badly they are making me ining money valuations are getting lower and lower. >> you think it's time to get more

greece cyprus and israel to sign an agreement for a new pipeline in february a us energy giant exxon mobil announced the discovery of gas off the coast of cyprus egypt's already signed a pipeline deal with cyprus all of this be considered an alternative to gas from russia which is the largest single provider to the e.u. however turkey objects to the drilling because of a territorial dispute with cyprus and lebanon has one israel not to violate its maritime borders so hairy falls in with tourism there's plenty of them to discuss. regardless of middle east politics just on this energy summit. well yes the this is that the latest iteration of these talks which are being going on for some months now and the hope is by these parties that they will be officially signed. early this year that was what they said at the last meeting in december and the idea as you say is to offer europe an alternative both to russian gas and as far as israelis are concerned as well to other middle eastern states gas and make the most of the new israeli gas field which is due to come online later this year as well as

we began to see american companies such as exxon mobil chevron and texaco shift from saudi arabia to africa which at the time was still relatively untapped. they focused on angola nigeria and the other countries along the gulf of guinea must. not only. in the wake of nine eleven the u.s. began to pursue a new oil supply strategy africa was just the beginning was. saddam hussein and his sons must leave iraq within forty eight hours iraq held nearly ten percent of the world's oil reserves the u.s. had taken another step in the direction of reducing its dependence on saudi oil in any conflict your fate will depend on your actions. do not destroy a wells a source of wealth that belongs to the iraqi people the americans would prove to have a keen interest in iraq's oil fields the weapons of mass destruction supposedly possessed by saddam hussein were little but a pretext in two thousand and three oil costs thirty dollars a barrel. the wounds of wall street got into the act the big american banks had the scent of black gold which had become an attractive commodity on the global market. in

the investments they promised at the start of the trump administration, charter communication, exxon mobilfox con which we got news on yesterday. intel, walmart. companies have a positive idea what donald trump was going to do from the start of his administration. >> the president has done two important things. he cut the red tape, not made the country unsafe but got rid of all the red tape and regulations so that it is less cumbersome to invest in this expensive. it the same time by lowering the corporate tax rate not to a rock button giveaway but to a level that puts us in the middle of the range of industrialized countries. we are now competitive. the cost of capital is reasonable in the united states as opposed to expensive. those two things together, reasonable cost of capital, reasonable regulation, give you reasonable jobs growth. this is a president of moderation when it comes to economic policy and moderation is the key. if you go to one extreme or the other businesses don't respond. >> we can put this on the screen. these were the jobs promised from the big companies. we don't kn

but big oil was saved -- shell, exxon mobil, follow of these companies are going to continue to investbig money there. one of the things the finance minister said to me is that these companies are investing individuals, and the sovereign wealth fund will be part of that future. many people workers and for more climate-change -- who are pushing for more climate-change action say that is not fair to integrated companies, although they do other things. but it is a first step. a bit of a blow, a bit of a safe for big oil. guy: interesting you bring up that mix. how much of this is the long-term structural decline of oil and it is locking itself into that story? or how much of it is down to what is a reasonably environmentally friendly population wanting to make change? how does the mix work? annmarie: the government will say it is 100% financially driven. this is about the fact that they want to hedge against the risk of any volatility in the oil market, seeing that they get funds directly from the industry, and investing back into it didn't make much sense. but you have to think about the

including new routes, aftershocks from the summit -- from the government shutdown. ,one grading exxon mobillashing its price target by 25%. , witho $75 per share analyst seeing limited upside. tech-lash has become an issue for 2020. senator elizabeth warren is proposing to break up the .argest tech companies the democratic presidential hopeful laid out her policy proposal in a post on medium antitrustting, weak enforcement has led to a dramatic reduction in competition and innovation. america has a long tradition of breaking up companies when they become too big. even if they are providing a good service at a reasonable price. for more, we want to bring in the senior antitrust analyst for bloomberg. senator warren talks about enforcement. is this an enforcement issue or about writing new loss? jennifer: it is eventually going to have to be about writing new laws. debate raging in the antitrust community over whether something needs to change in terms of antitrust enforcement and has it been to relax -- too lax? over 100et precedent years of case law that has set the standards by which we ju

exxon mobil plans to boost capital spending 24% this year to about $32 billion. ans to use the money to search for oil, build natural gas plants and expand refiners. exxon raised its 2025 profit growth target. playoff -- chevron and exxon buying for the top spot in the permian. chevron plans to increase oil production in the basin over the next five years. we spoke to mike wirth earlier about where he sees oil prices. >> we have seen world markets adjusting to try to accommodate this strong growth in the united states. we see demand very strong this year despite concerns about the state of the global economy. we've seen opec have to move into a different foster than when they previously have been opec and russia have had to come together. some of the non-opec countries have said we may hold production back to stabilize oil markets. the u.s. is a market-driven economy, we have hundreds of companies making economic independent decisions. it's really the marginal producer making the marginal investment who is challenged right now to make the decision as to whether to

exxon mobil has come back to pakistan recently in a big way. we want to see more u.s.ompanies coming to pakistan. with its huge middle class and potential to emerge as a manufacturing hub for the entire region, pakistan offers a captive market for u.s. retailers and rich investment opportunities for the u.s. manufacturers. i am here to seek and explore those opportunities, recognizing fully now is the time to come to pakistan. sooner, the better. as the prime minister recently told business investors in the middle east, pakistan is on the upswing. you do not want to miss the boat. ladies and gentlemen, a prosperous, pluralistic, pakistan is at the heart of the vision for pakistan, and it is this people and developments in the city that are driving the government's peaceful neighborhood agenda. the prime minister is convinced that pakistan will not be able to pursue its development goals and aspirations until an unless we have a peaceful neighborhood. the new government, therefore, wasted no time in reaching out to all of our neighbors, particularly afghanistan to seek

security, they are not only maintained their equities in pakistan, but a large difficulty recently exxon mobil has come back to pakistan in a big way, and cargo has entered pakistani market as well. we went to see more u.s. companies coming to pakistan. with its huge middle class the potential to emerge as as a manufacturing hub for the entire region, augustana offers a captive market for u.s. retailers and rich investment opportunities for the u.s. manufacturers. i'm here to see can explore the opportunities, recognizing fully that now is the time to come to pakistan, sooner the better. as the prime minister said to all business invested in middle is, pakistan is on the upswing. you do not want to miss the boat. ladies and gentlemen, a prosperous, pluralistic and tolerant pakistan is at the heart of the governments vision for pakistan, and it is this people and development in the city that are driving the government peaceful neighborhood agent. the prime minister is convinced that pakistan will not be able to pursue its development goals and aspirations until and unless we have peaceful neigh

we had a meeting a couple weeks ago and what we found was chevron, exxon mobil, they are able to bringwas the cost during the 2015-16 sort of oil boom and bust they will be okay. we don't need to hold any telethons for them at the moment. dagen: in one word aoc's green new deal? >> i haven't read it. i do believe in climate change. dagen: you can't come up with one word for us. >> unknown. dagen: good to see you. see that's funny, i thought you traded options. i'm not really a wall street guy. what's the hesitation? eh, it just feels too complicated, you know? well sure, at first, but jj can help you with that. jj, will you break it down for this gentleman? hey, ian. you know, at td ameritrade, we can walk you through your options trades step by step until you're comfortable. i could be up for that. that's taking options trading from wall st. to main st. hey guys, wanna play some pool? eh, i'm not really a pool guy. what's the hesitation? it's just complicated. step-by-step options trading support from td ameritrade maria: some of my instagram shots. i'm active on instagram, you are al

meanwhile, exxon mobile, for example, has said it will increase gas and oil by 25% in 2025. met? sure, it's up to governments, and ceos and leaders of big corporations. i think a lot of young people feel that the severity of the issue at hand is not being reflected by government, by policy makers, or by ceos of large corporations, so protesting is a way to make our voices heard. if you think about it, around the world scientists are sounding the alarm bells, that there is an impending crisis, and we are not seeing this reflected in our policy or by ceos who should have the responsibility to be investing in green energy and renewable sources. did you want to get arrested at the protest the other week? not at all. i've never been arrested in my life before. it's never been my intention to get arrested. i don't want a criminal record, i don't want to be caught up in the justice system. ijust got to a point where i thought nothing else will make a difference. i'm scared that i'm not going to have a future, that my kids won't have a future, they won't, certainly not the future th

green washing where you pretend to be an environmentalist destroying the environment like an exxon or mobile then you have blue washing where you pretend to be doing something good with the u.n. well you done something bad like abusing kids overseas then you had green mailing became very emotional blackmailing you know corporators of the one nine hundred eighty s. they have rebranded themselves of activist investor right so essentially you know it just comes back to this idea of white washing you know you're committing morally questionable acts whether you're bought to go or whomever and but you can whitewash this in one way or another through various schemes or mechanisms you know it all starts off with well meaning people like probably bottom feels like he's a really good guy and he cares about people and he probably gives. a lot of money to charity but the fact is like this system as this guy's final twee in history hm points out is what is alleged in this scheme is that someone this private equity guy working with bondo who claim to be working to change the system change capitalism empow

other stores, other chains following walgreen's that violated these policies, marathon, exxon, bp, citgo and mobile scott gotlieb testified on capitol hill last week the latest is this letter to walgreen's stock down by the way walgreen's 2.5% >> one of the worst performers here's what else is ahead on "the exchange" >> announcer: coming up will volvo be able to control how fast you drive >> spielberg goes after netflix. elon the masr teof distraction raising revenue by selling montana. it's all ahead on rapid fire >>>k let's get you up on a few stories that should be on your radar today. this is rapid fire welcome, everybody first up the u.s. and china are getting a deal and just not the one you're thinking of office depot and alibaba are teaming up for customers the chinese ecommerce giant would have access to office depot distribution network what does this tell us about alibaba's plans? >> it's a great deal for alibaba. office depot, office max huge presence. i wonder what's in it for office depot. clearly if the chinese start to come in to buy office depot it might not go so well this is the n

mobilization started on that on friday. president of the exxon shipping company. we have response teams on the west coast and east coast. we not only have current employees but anybody in our , we put them under contract and we call them. later inement team was the day on friday. we have a large amount of correction saturday. we had some delays occur and some problems occur. providethe plans didn't that decisions wouldn't be made, but that the plan wouldn't be provide for a number of people involved in the decision-making process. >> i've got a lot of other questions. >> i know what you say, you didn't know this captain personally. we certainly don't imply .nything personal my problem dealing with this now is the problem of multiplicity plans. my understanding, they did have a contingency plan. there is a regional response team plane. there was a prince william sound company plan. would you do the favor of asking the people to give us a copy of those since the beginning of the pipeline shipments? i think this committee ought to have those. if you want each member