the judge, ding exxon mobil to the case, and exxon's approach is to say that the ma testimony should out because in that testimony by dr., one of the litigants, he sets out the ampex a greenhouse gas pollution on the environmen so climate change, rising sea level, warmer ocean, etc. al of these things, which i'm sure the audience is extremely family or with. exxon mobisays these things are not facts but matters of scientific opinion and that since dr. thomas is not a scientific expert, he cannot make those statements and they have applied to strike out his testimony. we have responded by filing an affidavit saying the impacts the fossil fuels, the impact of greenhouse gas pollution is so well-known that it is no longer capable of being disputed. amy: and can you talk about the world bank? the involvement of the world bank in guyana in the pruction of fossil fuels, melinda janki? >> yes. the world bank has been very strongly in favor of guyana converting -- true producing fossil fuels. the world bank in fact in the 1980's was behind the legislation that established the petroleum legis

exxon mobil, back in 2014, it didn't make a new high from its 2014 high until this year, and now it's collapsed basically to that level again so the only thing that gets in my way with that $65 a barrel oil call is that the government is going to be refilling the spr around $70 but i think it's a massive head wind that they're fighting now with anti-momentum to the downside, so i think we could see that $65 a barrel oil, and if you have profits in energy, take them. >> julie, last word on oil is this a bounce you think we can buy on this relative underperformance >> no, i think there's -- you can see the level of declines. it's pretty challenging to see why it would be supported from him, but i agree with steve. i think you have a $70 floor with the u.s. economy, buying back and replenishing, but going forward it's hard to see what the direction is going to be. >> all right energy trade in a nutshell thanks very much, guys coming up, our trade we are making their list and checking it twice for a special holiday edition of trade it or fade it this time, we're going to wrap it or scrap

tesla is now worth less than exxon mobil. there was a point in which a small car company was worth more than one of the biggest in the world? yeah. to some that was crazy. a quarterly profit of about $3 billion. exxon mobil a quarterly profit of $19 billion. price earnings ratio, you want the smaller number. for years fairy magic dust because investors thought of tesla as a tech company. now they're thinking of tesla as a consider company, which is great. tech companies get higher valuations than manufacturing companies. investors worry ceo elon musk has taken his eye off the company. he says he'll stay at twitter to run the software team. musk announced new layoffs at twitter four days before christmas. now getting laid off at the holidays is a bummer but more importantly to these workers whether musk will honor their severance packages those promised and those required by law. there are several lawyers already suing musk and twitter for failing to do so. >>> sam bankman-fried has agreed to be extradited. he'll fly to americ

us energy giant exxon mobil is suing the eu over its new windfall tax on oil firms. n accuses brussels of exceeding its legal authority. the levy was imposed after oil and gas prices rose following russia's invasion of ukraine. you are watching bbc news. tigers are making a remarkable comeback here in nepal. their numbers more than doubling in the last ten years. tigers are the majestic creatures. being assigned in the protection duties, it's an honour, you know, it's a privilege. it's a small victory in a battle to bring them back from the brink of extinction. it does not come without the cost. the common area that the tiger and prey species and humanity shares is so tight, the community lives in terror. there has been an increase in tiger attacks on humans. more number of tigers and more number of people, definitely there is going to be conflict. so, it is going to be a challenging job for us to, you know, maintain peace between two species. roars military chanting private pinky adhikari has been newly stationed at bardiya national park in western nepal. herjob here

. >> ftx got a higher score for governance than exxon mobil. given your testimony that ftx collapse stem from the absolute concentration of control in the hands of a very small group of grossly inexperienced and unsophisticated individuals who failed to implement virtually any of the systems or controls necessary for a company that is entrusted with other people's money or assets. what would you say about this esg governance rating which rated ftx higher than exxon mobil? mr. ray: i would get my money back. >> can you identify which entities had audited financial statements? mr. ray: yes, there was no audit at alameda, no audit at the venture silo. there was an audit at the u.s. silo and also at the dotcom silo. i cannot speak to the integrity or all of the of those audits. we are reviewing the books and records. as i've said earlier, much of those books and records were maintained in a fairly unsophisticated ledger workbook. >> you testified on the lack of record-keeping. there is a whole lot of financial statements that are either not audited

beh behind energy and that 2023 is going to be a year of reckoning for energy, particularly for exxon mobil and chevron. if we're going into a mild recession and that recession is not just in the u.s., but perhaps more global than not, why would energy be a good bet here and what part of the energy sector are we talking about? he will later say the exxons and chevrons are done. what do you say is the place to put money in energy? >> so i look for those companies that are doing exceptionally well from an earnings point of view and returning earnings to the investors. so if something like a devin energy or something like that paying around an 8.7% dividend why would you go against energy? in the recession's really bad, yeah, you don't really want to be in energy it's cyclicly sensitive, but if the recession is mild and there's really not a lot of indication right now that the, we're in a recession i mean, the economy is incredibly resilient even in the face of all these rate hikes so if the predictions are correct and the recession is mild, it's probably safer to go into energy then you think

. >> one firm gave ftx a higher score for governance than exxon mobile given your testimony that the collapse stems from the absolute concentration of control in the hands of a very small group of grossly inexperienced and unsophisticated individuals who failed to implement virtually any of the systems or controls necessary for a company that is entrusted with other people's money or assets, what would you say about this esg governance rating, which rated ftx higher than exxon mobile? >> i'd get my money back. >> can you identify which entities had audited financial statements >> yes, i can. there was no audit at alameda. there was audit at the u.s. silo and also audit at the dot com silo i can't speak to the integrity or quality of those audits we're reviewing the books and records. as i said earlier, you know, much of those books and records were maintained on a fairly unsophisticated ledger and work books. >> and you testified of the lack of recordkeeping. >> yes, sir. >> so there is a whole lot of financial statements that are either not audited or not available. is that fair to

the likes of exxon mobil total energies and shell may have their eye on another advantage. however, marine viber size can also map oil and gas in shallow waters. but doesn't this sound paradoxical, more sustainable methods to find more fossil fuels? we really should not be, we just should not be searching for oil and gas under the ocean anymore. we, you know, we really need to make the screen transition. that's the main solution. there are plenty of options for reducing marine noise pollution, but more progress is needed on the regulatory front. in 2011 germany introduced one of the world's 1st noise limits in place to protect north sea marine life. air bubble curtains are now standard, there in the industry is doing fine. taiwan is introducing a similar regulation. quieter is better for the environment, but without incentives or new laws, the industry has few reason to change. the role of who's in conservation is controversial, but some argue they play a valuable role in educating the public about animals and help foster values about the need to protect species. we met a n

deliveries to sakhalin were found and our production on sakhalin was declining due to the fact that exxon mobil the sheil was getting ready to leave, and there are several several requested both production and supply to japan, too, in japan received an exception from the action. here is this and from under actions of this price ceiling, that is, they will receive oil from sakhalin regardless, that is, they do not need, despite the fact that they are in the big seven, despite the fact that they signed up under this entire system, they will not receive in our oil at marginal prices. interesting. why can't they believe that we uh, can they believe that we wo n't deliver, although the us treasury speaks out guys. believe china india here you are in particular. come here, and russia will definitely supply tibet? calm down everyone ok. we looked at everything. everyone revered russia - this is beneficial. it’s good if we obey, if we start to participate in this, we can really earn, well, in january-february there is more money than if we don’t fix it, because they don’t need to clap anymore, that is,

exxon mobil has announced its lifting pay for its employees by around 10% — that's above the us inflationafter the texas based oil giant reported consecutive record—breaking quarterly profits this year. chief executive darren woods and other senior executives would also be getting double—digit pay increases. joining me now is richard black, senior associate at the energy and climate intelligence unit. richard, it is interesting this news should come today when in the uk, certainly, our headlines are dominated by workers taking strike action because they are desperately looking for anything close to a pay rise that is near to our inflation rate. it looks like the oil sector is the place to be? it the oil sector is the place to be? . . , the oil sector is the place to be? . ., , ., , ., the oil sector is the place to be? it certainly does. exxon is -a in: be? it certainly does. exxon is paying 10% — be? it certainly does. exxon is paying 10% pay _ be? it certainly does. exxon is paying 10% pay rises _ be? it certainly does. exxon is paying 10% pay rises after- be? it certainly does. exxon i

tesla is now worth less than exxon mobil. if you're saying, wait, hold on, a small car company was worth more than one of the biggest car companies in the world? yes. tesla has a profit of about $3 billion, exxon $19 billion. price earnings ratio, the smaller number is better. tesla 42, exxon 8. for years tesla had magic dust because investors thought of tesla as a tech company. now they're starting to think of it as a car company. that's great. tech companies get higher valuations than manufacturing. investors worry tesla ceo elon musk is taking his eye off the ball by also serving as twitter ceo. musk confirm he would step down as twitter ceo once he found a replacement but says he'll stay at twitter to run the software team. he announced new layoffs at twitter four days before christmas. getting laid off during the holidays is a bummer but more important to these workers is whether musk will honor their severance packages, both those promised and those required by law. there are several lawyers suing for him failing to do s

shares of oil giant exxon mobil closed up a little more than 1% as it announced a major share buybackts lowest level in months as investors wait for next week's meetingf the european central bank. more than 1000 staff members of "the new york times" are staging a one-day strike. union leaders have been trying to bring better pay and benefits for their leaders. executives said the paper's editorial coverage would remain largely unaffected, but some staffers were participating in the walk out and urged readers not to consume whatever content is published during that 24-hour strike this thursday. the british government has sent shockwaves across environmental circles after approving the first new coal mine in over three decades. it is not set to produce coal for energy purposes, despite soaring energy prices. activists say it will set back progress on reducing emissions and tackling climate change. >> this site is seto host u.k.'s first new coal mine in three decades, and advancement that has been met with a mixed response. the u.k.'s housing and community secretary defended the plan to

what's your take >> yeah, so guy, you know, framed out exxon mobil, chevron and the double pops. exxon, it took seven years to make a new high. that to me is bearish by its nature but looking at them on a chart, they all came in, both of those names came in. for the last two years we've seen energy outperform and the disconnect is the commodity came in, the equities went up i think this year you see the commodity go higher, the equities fall judging on the charts >> all right for more "options action" be sure to tune into the full show friday at 5:30 p.m. eastern time there's a lot more "fast money" to come. here's what's coming up next. >> announcer: the clock's ticking on tiktok but even as the p bands call, what does it mean instagram can't reel in the games. plus, who has two thumbs and knows how to use them? the chart master carter's here to give his thumbs up or down for the trader's stocks they're so bad they actually look good. you're watching "fast money. live from the nasdaq market site in times square. we're back right after this. >>> welcome back to "fast money. anothe

exxon mobil taking some of its profits and boosting is chair back program. not repurchase 50 buying dollars in stock through 2020 for this is different from their previous plan to spend a billion dollars through next year. their third quarter earnings were the highest in company history. a federal court in california will look into metaverse. u.s. forces want to stop the parent of facebook from buying the virtual reality startup within the federal claim -- trade -- and. the price of west texas intermediate jumped today after the keystone oil pipeline was shut down due to a leak. the league took place in nebraska. no word on where the pipeline will be in operation. that is your latest business flash. guy: thank you. something really cool, this is sunrise in san francisco as we are seeing the sun setting in london. the sun is going down here but it will -- has been an incredibly beautiful day here in london. this is a visual reflection of the jet leg that ed ludlow will experience as he comes home for christmas, but he is in san francisco right now, enjoying t

amy: your comment on this latest news, 16 municipalities filing a lawsuit against shell, exxon mobil,them of contributing to the climate crisis that downplayed fossil fuels. bianca: in puerto rico, we see the consequences of climate change first-hand. hurricanes have devastated puerto rico. people are still recovering. five years later, we see a hurricane ke fiona. the sea levels are rising. the fatalities are taking these companies to account when it comes to the comp -- consequences. amy: bianca, thank you for being with us. her short documentary "aqui vive gente," or people live here, was featured in the bad bunny music video titled "el apagón." her most recent documentary is titled "país de apagones" or "country of blackouts." we will be streaming this year's livelihood awards -- this year's right livelihood award ceremony today on our website at 1:30 p.m. eastern. go to democracynow.org a huge fond farewell to zina and danielle, our digital fellows as , they wrap up their time and today is their last day at democracy now! you remain in our dna. >>> nato leaders have watched the w

there is an incredible come back performer, exxon mobile. wo big american integrated oils. this is a great year for exxon putting up 50% plus revenue with the earnings per share doubling. those numbers should come down in 2023 because oil and gas prices have pulled back from the highs but at these levels, exxon sells for nine times next year's earnings and a 5% dividend yield. it should keep doing fine. remember, when forecasts are down for the next year, you're going to see stocks get their multiple slash and that's what is happening here. just like chevron, the other big integrated oil, they have a nice balance of very strong business today with big plans for a lower carbon future. plus, the integrated model insulates them from pain of lower commodity prices let me give you a few more in fourth place there is one i just haven't talked about called marathon peelte a down stream operator, much better place to be in the market where thepric of oil has fallen. doesn't hurt the stock pulled back more than $15 from the highs the past few weeks co

exxon mobile up 72%, steven, chevron up nearly 45%, would you stick with energy related sectors comingll get a double out of exxon like we did over the last 18 months but still had nice dividend. 4 to 5%. stable businesses, you can clip the coupon and wait for better days in '24 and '25. let's turn to your book and tour. i enjoyed the book so much. the p pilgrimage to the museum. you were kind enough to include me in your tour recently and you write in the book, pilgrimage to the museum, man search for god through art and time. i want to get your take about what title and walk us through some of the important paintings that you write about. we will start with remembrance. >> dagen asked me last time my favorite artist and i thought brand and i thought of painting because it's a self-portrait of rain brand and a lot of wall street folks, this is the kind of thing we are involved every day. the bust to homer and the left hand on ill-gotten riches of the world, gold chain from his friend alexander the great and caught in this contest, inner struggle and you look at his face and don't know

if you ever buy gas for conocophillips, bp, exxon mobil, chevron, all of these companies today can traceheir roots back to standard oil. he dominated that business. rockefeller center, rockefeller plaza, top of the rock, the name resonates to this date. this is j.p. morgan. he is in banking and finance. how would you like to go and ask him for a loan? look at that face. anyway his office is directly across the street from the new york stock exchange. the name is still around good luck getting that loan. cornelius vanderbilt, vanderbilt university. he was in transportation, shipping, railroads, the commodore as he was known. the point is, each of these men become captains of industry. they are at the top of their profession. and if you noticed, one thing is they are not competing against each other as such. each of them carved out their own little niche in society in the american economy. it is steel, it is oil, it is finance, banking, transportation. you see these men realized early on that competition is not a good thing. competition is a bad word breed competition drives prices down. a

>> i would just say it's a car company and leave it at that exxon mobile, there's a supply demand imbalance here. we've trimmed down massively what happens when china picks up after this post covid shutdown i could go on and on but it's a simple story >> by the way, mr. gm with that snide comment. adam jonas would agree with you. he said tesla's gap can widen with the competition and pandemic revealed it as the clear ev leader. >> yeah, make this simple. people, the bulls and i'm not talking about joe because the bulls on gm are going to say this is an ev company that they've done a great job building out profitability in the ev space >> scott >> it is an ev company, gm >> that's where the growth in this business is coming from that's where it's coming from. >> here's the thing what ford did strategy they said let's flood the marketplace with ev models we'll worry about profitability later. there's some genius to that. what gn is saying let's get one unified chassis and rollout the models >> the point is gm wants to be an ev company. tesla is already there >> i know i'm being a little provo

exxon mobil taking some of its record profits and boosting share by program. will now repurchase $50 billion of stock through 2024. that compares with the previous plan to spend $30 billion next year. exxon's second and third quarter earnings were the highest in the company's history. global news 24 hours a day, on air and on "bloomberg quicktake." powered by more than 2,700 journalists and analysts in more than 120 countries. i am lisa mateo. this is bloomberg. ♪ jonathan: live from new york city. equity futures positive on the s&p. in about 14 minutes, we will get you data. jobless claims in america coming up. yields higher by five basis points on a 10 year, 3.46. moments ago, breaking news. annmarie: big breaking news coming out of the white house this morning. this is a culmination of months of work from this administration in their dealings with russia. this is the release from a penal colony of greiner, the wnba star. she was arrested in february for having cannabis oil on her possession of luggage in a moscow airport. she was sentenced to nine years in

tesla is open today at a market cap that's below that of exxon mobil, below 150 bucks a share for the years. and now the electric car manufacturer on track for its worst month, worst quarter in history and then you have elon musk saying, yeah, yeah, but it's not because of my focus on twitter. he says it's because of big macroeconomic factors. he says, look, investors are getting out of stocks all together, they want to be in cash. if you look at tesla shares, they've dropped more than other big automakers and a lot of critics say musk has taken his eyes off the road, his hands off the wheel. the company is now having to offer discounts and incentives to improve their sales in china, they're fighting to improve efficiency at their factories, there's big supply chain issues, of course. the soaring energy prices in europe. and publicly, at least, elon musk is all about twitter. i mean, and even the fact that he posted this poll asking if he should step away from the job leading this company raises questions about his fitness to lead the company. >> yeah. certainly does. contessa brewer

i was looking at the exxon mobile vote 51 percent so this isn't jumping on a wave of something, these are votes that actually matter and coordination matters so good to see that sort of strategic thinking. i did have some questions on our process, especially when it comes to the private side. if we could on slide 15, we talked about our carbon footprint for the portfolio. wondering if mr. collins could explain, is this our entire portfolio on slide 15 or is this just the public side or the public market side of the portfolio? >> yes. commissioner thomas, great question and thank you for the prior comments. it represents a portion of our overall plan carbon footprint and it covers specifically the public equity and corporate fixed income sleeve of our public fixed income portfolio so it does not represent the entirety of the plan footprint. and this really i think speaks to a lot of work we doing through the esg data convergence project and other initiatives to create a framework and architecture to get esg and carbon footprint data for the private market. there are not regular torry f

an article from s and p global entitled exxon mobil lyon del collaborate to make houston a recycling circulatory -- circularity pub. a wall street journal article entitled russian gas cuts, threatened world's largest chemicals hub and a letter from american fuel and petrochemical manufacturers. without objection so ordered. and with that again, i thank our witnesses for joining us for today's hearing. i remind members that pursuant to committee rules they have 10 business days by which to submit additional questions for the record to be answered by our witnesses. i ask that if our witnesses would please respond properly to any such questions that you may receive, and at this time the subcommittee is adjourned.

right now, david mentioned it, it is now ironically enough smaller in terms of market cap than exxon mobileergy is worth less than traditional carbon fuels. $800 billion is like losing two wamt walmarts in the last couple of years so we'll see if the valuations have become attractive in some way, shape, or form given the moves. >>> "reuters" saying that ftx founder sam bankman-fried has left a bahamas prison, according to source, and i think some video is coming in now as we track his travel to the united states through that extradition, david, and we start to get a sense as to how this is going to work the legal process with him on american soil later today, we think. >> yeah, in new york because obviously the indictment was from the southern district so the question then becomes as we entertained earlier, will bail and set and will he be allowed out as was not the case in the bahamas where apparently he was at a prison that was, you know, pretty rough conditions. >> yeah. there have been some -- and then obviously multiple attempts with the bahamian authorities to say get house arrest, di

exxon mobil down more than 8% over the last month.not far behind still big gains for the year while many focus on those oil names when it comes to europe's energy crisis, key question, could hydrogen be the key to a recovery brian sullivan is near the port of radaotterdam in the netherla. >> the biggest in europe, by the way. outside of rotterdam, look at the size and scale apparently if you took all the pipe in all this facility and laid it end to end you could circle the entire earth four times. amazing. it's not just a big plant, it's big money. shell is taking a third of their global capital spending every year and investing in renewables and new technologies obviously there's climate mandates, political mandates there's a lot of talk about hydrogen the bulls, they love it. you know what they say they say it's plentiful, the most plentiful element in the universe it is low carbon, maybe, depending how you produce it if it's with coal, it's not. it will be green with windmills ultimately it should be green hydrogen and existing inf

exxon mobil is suing the european union over a windfall profits tax. s designed to raise billions to bring down consumer energy costs and exxon told investors that windfall taxes could cost the company at least $2 billion through the end of next year. global news, 24 hours a day, on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. i am lisa matteo. this is bloomberg. ♪ about things like changing tax rates, exemption certificates or filing returns. avalarahhh ahhh ahhh ahhh >> i think we are beyond talking about recession and everyone is talking about recovery before recession is happening. it is about inflation -- the fed needs to force the labor market rollover. lisa: one of the big conundrums in 2023 and i cannot tell what the answer is going to be because i have been looking at all of this especially with the idea of retirees who love the work forecast left the workforce -- -- who left the workforce and the workforce has shrunk. katie: i don't understand how people --matt: i don't understa

on the refining side, take years to fix and try to improve >> expansions have been under way, exxon mobiles has been undergoing an expansion since 2019, that project will likely come online this year, the u.s. isn't going to see much in terms of refinery capacity. we'll see an increase in refining capacity in areas overseas, in africa, nigeria, in the middle east and asia, a lot of major refining projects coming online. it will help alleviate some of where the u.s. is shipping its product exports, that will certainly help increase the apartment of global refining capacity and they could help put downward pressure on prices. >> patrick what's the pressure point that consumers say, hold on, this is a serious problem, and then put pressure on administration or elected leaders, is it $4 per gallon. >> i think we've pushed past it, it depends on the situation, with prices going back to $2.99, $4 some friction there but i think with many americans having seen the $5 in the last year that probably raises the bar, the $5 a gallon is where americans really become sensitive because many areas, some

were found there from sakhalin, and our production on sakhalin was reduced due to the fact that exxon mobilady to exit. and there, production and supplies to japan sank somewhat, and japan also received an exception from the action. this, uh, from under the influence of this price ceiling, that is, they will receive oil from sakhalin regardless, that is, they don’t need it, despite the fact that they are in the big seven, despite the fact that they signed up under this entire system, they will not receive our oil at marginal prices. interesting. why can't they believe that we uh, can they believe that we wo n't deliver, although the us treasury advocates says guys. believe china india here you are in particular. come here, and you are bluffing russia will definitely deliver. calm down everything is fine. we looked at everything. everyone revered russia profitable. it’s good if we obey, if we start to participate in this, we can really earn, well, in january-february , more money than if we don’t obey, because there are no more slaps, that is, thirty-year-olds in february. they revise this p

ether sitting at approximately $1,200 >> frank what are you checking out this >> chevron and exxon mobilheir spending plans they both announced plan capital spending for 2023 -- i'm talking about exon announced planned capital spending that follows news from chevron that is increasing its spending to 17 billion. both companies are spending more money as they increase investments in low carbon fuel projects. >>> we're watching chinese mega cap tech both rallying this morning as investors get bullish on the reopening of the world's second biggest economy you can see stocks here across the board are up las vegas sands up 4%. jd.com and alibaba up 3% as well goldman sachs says that the announcement yesterday is paving the way for the end of china's zero covid policy. >>> salesforce, those shares are down again you can see right now, they're down almost a percent at this moment they're down double digits since november 30th earnings that shows slowing demand reporting from the journal krietding sources saying that benioff thinks he's not spending enough time on salesforce. i'm going to be dow

mobile but he likes the yield and the yield is cut i don't like that. dow chemical, jim doing fantastic job. really nice dividend altria i'll give the dividend due. chon, c exxon a better story a. drug company, a company i do not like and don't like the management terrific chemical company and tobacco company i don't recommend the stocks but understand they give you good yield and a fine oil, i prefer chevron but that's a diversified portfolio. next, andrew in north carolina andrew >> hey, boo-jizzle jim, my man currently i have numerous stocks but top five for your show purposes, no particular order, we'll go tesla, eli lilly, palo alto, taijuan semi and ulta. rhetorical question but am i diversified or not >> ulta had a good quarter sh stocks shouldn't have been down. don't read anything into the action today let's go to work taijuan semi is a ground foundry. they will do more here semi conductor foundry palo alto number one cybersecurity play tesla, has anyone in the world -- hello 8 billion people on earth. there is nobody yet i met that didn't know tesla. eli lilly nice move again today so did the rest of the trucks. we're in it for the obesity drug, not