liz: you have to talk about exxonmobil. it is a dow laggard. following a refinery explosion and buffett getting out of the stock. >> right. there was not only the refinery explosion but yesterday's news that berkshire hathaway sold three quarters after billion dollars. george soros got out also. when you combine exxonmobil, they were down big, totaling 16 points off the dow. david: stock always seems to be in the news as far as hedge funds are concerned, herbalife. herbalife is down, why? >> herbalife is down because several hedge funds are selling positions. who is increasing his stake by 80%. george soros. took money from exxonmobil and bought some herbalife. liz: that is interesting. [closing bell ringing] into utilities now. the bells ring on wall street. as we look and see how stocks finish -- finish up. it has been what the lower banner says. volatile day for stocks. fed minutes came out showing quite a bit of hesitancy moving forward on just single words like patient. makes you start to wonder if they are overly frightened, david how to

we'll see that effect with exxonmobil through the business.you think it's going to play out in the earnings cycle? >> they don't have a huge -- bp has a big shareholder. that have a big project put on hold because the sanctions. it will certainly upset exxon medium term value. it's not going what-- we have estimate of 11%. shale has a $15 billion. >> we know declining oil prices will hit. it's bottom line. do you think the oil giant could surprise to the upside? i was looking at my notes on average earnings forecast for exxon have come down around 5.5%. >> yes. exxon is probably less than the others. it has more downstream. it has the biggest downstream in industry. >> is that priced into the earnings estimates? >> it seems like it is. i'm pointed in their upstream division which is the biggest division in the company. i wouldn't expect them to be a little bit light on the consensus earnings numbers. looking for a little bit of disappointment today probably today. >> you talked about the dividend yield. it's been an attractive stock looking fo

exxonmobil said no harmful chemicals were detected. >>> stocks on wall street were mixed yesterday as sliding oil prices sent energy stocks sharply lower. the dow fell 17 points. the s&p lost half a point. but the nasdaq finished 7 points higher. >>> samsung has bought the mobile pay company loop pay. this will put them in direct

honey honeywell is not the only company with an analyst meeting monday exxonmobil is hosting a con fab too. maybe the buffett sperm giant can tell us what the heck is going on with oil prices. i've been of the view that the supply will continue to overwhelm demand. so oil is going to stay down longer than expected at this 48 $49 level, but i respect that way too much not to pay attention to a more contrary bullish opinion. pay close attention to drilling

according to exxonmobil, the torrence refinery covers about 750 acres.employs approximately 650 employees, 550 contractors, and it processes an average of 155,000 barrels of crude oil per day and produces about 1.8 billion gallons of gasoline per year. this is a decent size refinery but it's not all that large with regard to the overall oil market. now, what's also interesting here, we have reports here that more than 70% of each barrel refined by this refinery is turned into high quality specifically specially formulated low emission gasoline that's used throughout southern california and parts of arizona and nevada. if there is a refinery outage gasoline prices in the area or those areas may be affected. also something interesting here early reports have been there have been no serious injuries with regard to this particular incident with exxonmobil. again, these are just early reports. what's interesting though is the torrence memorial medical center nearby in torrence california, is one of three l.a. county area hospitals that have designated burn un

it also halted the production of gas heen atoline at that exxonmobile. refineryies are a bit of a bottleneck. in addition to that one refinery blowing up last wednesday, and therefore shutting down in torrence, california, in addition to that there is a bunch of other refineries where the workers are out on strike at 12 different plants in ohio california, texas, louisiana, and it spread to the largest in port arthur tennessee. that means that now one fifth of the nation's production capacity in terms of refineries is on strike right now. one fifth of our capacity is down because of these strikes. now and indefinitely. these are the steel workers out on strike. one of the main things is safety, pay, and benefits as well. talks are expected to pick back up but this is now the largest refire refinery strike in three decades. i know we have been enjoying the low gas prices in this country, that is part of the cost of goiling downgoiloil going down. but it is where one of the bottlenecks traditionally is, and right now one fifth of our capacity is affected b

exxonmobil is facing $2.6 million fine for the spill and has spent $70 million to clean it up. the company purchased many of the homes on the block. three houses were so badly damaged, exxon knocked them down. most sat empty. even after an accident like the one in mayflower, defeating keystone could be a long shot for steyer. if you look at the polls, 2/3 of americans do support the keystone pipeline, and that number hasn't budged in the last two years. >> it really hasn't. >> seems like you're in a minority there. >> i think that this is a topic in which people, a, don't really understand what it is and b, it's always presented as either we do this or we do nothing. that's absolutely not true. we are not going to run the society without energy. it's just a question of how we think about it. >> but keystone is just part of the problem. steyer says the bigger climate issue is how tar sands oil is recovered from the canadian countryside. 20% of the oil is mixed in sandy soil lying just below the surface and is strip mined and spun in centrifuges to separate the oil from the dirt.

exxonmobil announced plans to vacate the campus in 2012. its 2,000 workers moving all the way to houston. >>> the uss berry is shipping out for good. it's going to be towed away in the next couple of months and turned into scraps. the navy destroyer is docked on the anacostia river at washington navy yard. it has served as a floating museum for 30 years now but the ship is in poor condition and it needs to be moved before october. now that's when construction begins on the new frederick douglas memorial bridge. >>> well, if the gamble of an on-time flight is not enough for you, slots could be coming to one of our local airports. the maryland general assembly has drafted a plan to add 3,000 slot machines at bwi marshall airport. our i-team reporter scott mcfarland found out the machines would be placed in the casino-style room just beyond security checkpoints so that only the ticketed passengers would be allowed to play. that way it really wouldn't compete with other state casinos. voters would have to have that plan approved first. >>> well

this is what people could see from the outside of the exxonmobil refinery in torrance . and this is what firefighters found on the inside. >> we found some gasoline that was flowing on the ground as a result of the explosion. >> reporter: the explosion occurred shortly before 9:00 this morning followed by a ground fire. >> it was big impact. >> reporter: four contract workers went to the hospital. incredibly they only had mie snore injuries. the rest of the workers from that unit were sent home for the day. for first responder, a dangerous situation since there's always the potential of flowing gasoline reigniting. >> you can't just shut a refinery down. it's a long involved process. so we worked hand in hand with the refinery operators to isolate products, to bring units down in a safe manner. >> reporter: one of the safety mechanisms involves this flare system. >> and that flare stack is very visible, a lot of black smoke, big flames very dramatic looking. but in fact it's just a safety feature here at the refinery. >> reporter: this refinery processed 155,000 barrels

an explosion at the torrence exxonmobil refinery sent flames in the air. the facility will be closed until the state regulators figure out what happened there. a fire captain says it may have been caused by workers trying to activate a flare system to deal with a leak at the refinery. four employees had minor injuries. that fire sent ash down on cars in nearby parking lots. a smoke advisory was issued for the torrance area. together the refinery involved an idle tesoro refinery facility in martinez that accounts for about 16% of the state's refining capabilities. >>> the oil industry has been counting on fracking as a way to keep gas prices low, but is it worth the potential environmental risk? a new state report says yes. christin ayers reports, many people don't believe that. >>> reporter: three weeks ago 8,000 people flooded oakland streets calling for a fracking ban in california. tonight's meeting far more subdued but the message was the same. this needs to be stopped now. it's a public crisis. >> reporter: it works by injecting water with chemicals t

exxonmobil released a statement, quote, no harmful emissions detected. experts say explosion will drive up gas prices. a gas station worker told our nbc affiliate that after the explosion happened his boss called and told him to raise the price by $0.05. two weeks ago inspectors skpleeted a safety inspection of the refinery but did not include the area where the explosion took place. it processes 155,000 pounds of crude oil today. >>> today white house summit on violent extremism will continue. leaders from 60 different countries traveled to washington for the event. yesterday president obama warned that terror groups were poor uneducated muslim with money and twisted interpretations of religion. the president insisted we are not at war with islam. tracie potts joins us live from washington. tracie some critics are saying president obama missed an opportunity to lead the fight against isis. >> they are, dara but that's actually a stronger stance than we've seen him take before. the purpose of this conference this summit is to really address the issue iss

plus we'll get quarterly results from exxonmobil.ction from that component when "squawk box" comes back. >>> after a shaky start to the year, january is now in the books. investors looking for a fresh start on the first trading day of the month. >>> washington watch. president obama delivering a $4 trillion budget plan today. >>> and super bowl xlix crampons. it's the patriots overtaking the seahawks in dramatic fashion to take home the franchise's fourth title. >> pass is intercepted at the goal line by malcolm butler! >>> it's groundhog day. the final hour of "squawk box" begins right now. >> live from the most powerful city in the world, new york, this is "squawk box." >> welcome back to "squawk box," everyone. this is cnbc first in business worldwide. i'm becky quick along with joe kernen and andrew ross sorkin. as more snow blankets the northeast, we looked to punxsutawney phil this morning for hope there would be an end to winter nearby. we thought we had everything on our side with the weather going our way. but thanks to the

inova fairfax is acquiring the former exxonmobil headquarters building. that's in the maryfield area, and will be transforming it into a sent that are provides cutting-edge care and research. here's news4's megan mcgrath. >> reporter: the 117-acre campus has been home to exxonmobil's corporate headquarters. but in the coming months the 1.2 million-square-foot complex will be transformed into a state-of-the-art healt campus using cutting-edge technology and research in genomics. doctors will look at a patient's dna and personally tailor their medical treatment. >> that ability to look at your gene sequence and target your therapy is the unique thing that we're frankly already extremely good at and we're on our way to being best in the world. >> reporter: 2-year-old zachary has image syndrome and has benefited fist hand from such personalized treatment. >> he was given medicine during one of his surgeries, he's had a couple surgeries, and because of the research they were able to identify a hormone he needed to have on site and with them during the surgery.

takeover candidate for exxonmobil.on't get first-time investors with old stodgy oil companies. >> give them something they know. apple will be pretty easy. charles: apple, disney. those are the names. greek showdown intensifies. this vacation destination has so much sway over your 401(k). should it? we'll debate it next. ♪ ♪, you know, once really famous for his determination in wars writing the pages of the iliad, greece is fighting a battle in which it loses no matter what the outcome is. now that they've run out of their money and other people's money, the question is, what comes next? the sums are hard to wrap your hands around. the greek government owes more than 315 billion euros in its general debt. they have taken a series of hits. now it's saying no more. no more bailouts. a lot of countries have to swallow their pride and make the same sacrifice, including ireland and portugal. you have to see, both these guys lived up to their obligations for the bailouts. their unemployment rates are trending down. ireland

they determined that exxonmobile did it.n this case when the to trial, this past year before this judge in new jersey the only issue to be settled was not whether or not exxon did it whether they were liable there was not even a question about what exxon did. when it went to trial, the only question was how much they would have to pay for it. the dollar amount. that is what remained to be decided. the state of new jersey for the last 11 years has been seeking $8.9 billion in damages. they wanted $2.5 billion to repair damage and another $6 billion to compensate the state for what they had done. so that trial to determine what they owed lasted from january to september of last year. the last filings happened in november. and that judge was expected to rule at any time. butt the "new york times" reports today that the chris christie administration just settled the case. remember the state officially had been seeking $8.9 billion. how much did they settle for? not bad. not even one billion. they settled for $250 million. how di

that's because this exxonmobil refinery in torrance california, that saw the incident exxonmobil itself said it had an incident at one of its refineries. it's just about 16 17 miles south of downtown los angeles, about ten miles north of the long beach port where work stoppage is currently happening. you can see here these are shots taken by knbc's helicopter over the refinery. you can see structural damage to parts of this refinery, smoke coming out. there are hoses being deployed underneath. a number of damaged vehicles as well on the property and what looked like an extra large burnoff from one of the pipes coming out of this particular refinery. what we do know is this refinery accounts for about 10% of all gasoline production in california for a specialty grade, a blend of gasoline specific to the california market. that's why the gas price increases may be localized. this refinery refines about 156,000 barrels of crude oil per day and produced about $1.8 billion worth of gasoline last year just to give you an idea of the overall capacity. now, what we do know the latest developmen

i have received money from exxonmobil, but they have not given me money for a long time.merican petroleum institute. anything you wish for from all of these companies. i write the proposal. [indiscernible] always for very small amounts. >> that is dr. soon from 2013. kert davies, you are executive director of the climate investigations center, which obtained new documents through public records requests that shed new light on the influence of fossil fuel interests on the research of dr. willie soon. can you talk about what you have found? >> first to clarify it, greenpeace investigation going back to 2009 when i was there, we started with a public records act request through the smithsonian, asking for the information on soon's sources of outside income. we knew from 2007 he was getting money from the charles koch foundation, american petroleum and exxonmobil. we said, show was where he is getting his funding from. we got a spreadsheet back. we said, we want to see the communication with these funders. years go by. we got some e-mail. in the e-mail, showed there were cont

an explosion in southern california at an exxonmobil refinery in torrance.ere say the explosion felt like an earthquake. no one was seriously injured in the blast but the cause is still uninvestigation. now consumer groups expect say a 10-cent jump in prices overnight and then another 10 cents later because of decreased supply. in addition, refineries across the state are switching production to the cleaner and more expensive summer blends. college students will be hurting. >> we really don't make that much, tuitions are high, that we have to waste more money on gas. >> reporter: to make things worse the workers strike at the tesoro refinery refinery in martinez is entering its 19th day. that makes it the longest refunry refinery strike since 1980. but they are set to resume negotiations today. so between the two shutdowns in northern and southern california, the state has lost 17% of its production capacity. analysts don't think the prices will get higher than $3.50 a gallon. live in san jose, kiet do, kpix 5. >> here's a look at gas prices this morning in

this is what exxonmobil is calling it at its torrence refinery. it happened around 8:50 a.m.tern time. the company says emergency procedures have been activated and employees are working with appropriate government agencies. now, there are some reports -- again, some reports -- that it was a possible explosion at this refiner where i. other people are saying that there have been some -- at least sheltering endestructions given in place here. schools are told to shelter in place after the exxon torrence refinery incident. you are seeing some dramatic footage there now. what that could be is just routine burn-off, or it could be something more than that. this is a developing story that we're wanting -- that we're monitoring very closely here, but, again, there has been an incident confirmed by exxonmobil at one of its refineries in torrence, california. we'll bring in more details as they become available, but for right now this part of torrence, california, right near the 405 down in southern california. the focus for a lot of people right now as now we are monitoring, again,

we want to give you an update to the explosion at an exxonmobil refinery in torrance, california. two people suffered minor injuries. they're being treated at scene. exonoree lease ad statement. this is what they're telling us. emergency procedures have been activated to address the incident. those pictures are amazing. employees are working with the appropriate agencies right now. our main concern is for the safety of our employees and also for our neighbors. torrance, by the way, this is possible youlous area of possible youlous area. this is downtown l.a. that is what we're hearing from exxon and update on that explosion. there are the aerial pictures. >>> well, our favorite state department spokesperson, she is at it again saying the president's plan for fighting isis is great! you just are not smart enough to understand it america. what? plus, from rap to gap get this. kanye west lobbies for his dream job in retail. spoiler alert. it is not folding jeans. smart money coming up. ♪ when the moment's spontaneous, why pause to take a pill? or stop to find a bathroom? cialis for d

. >> sta >>> an investigation to determine what caused an explosion at an exxonmobil refinery in southerncalifornia. >> four workers suffered minor injuries in torerance. it damaged a processing unit recently installed. >> people living within two miles reported feeling a sharp jolt they initially thought was an earthquake. >> the explosion combined with the strike at the refinery in martinez could cause prices to rise. david louie tells us what drivers can expect. >> drivers already are bracing for higher prices they have seen them rise rapidly the past couple weeks but not as bad as a year ago. >> last year was painful. >> even with these increases, not too bad? >> it's not as bad as before. >> so it's okay? you can tolerate it? >> it's tolerable. >> the price of crude has gone up 8 to $10 driving up the price of gas 20 cents but the exxonmobil refinery fire and the treat to shut down, will drive prices 16%. alison mac of gasbuddy.com says plant maintenance and summer turnover blend will change it. >> a lot of refineries shut down may tense causing production to be lower which is why pr

now consider year's fire at the exxonmobil refinery in torrance which produces 10 percent of the gas in california and there is also the strategic that has shut down the tesoro plant and those two factors reduce the flow at 16 percent causing the prices to increase. >> our commute is the worst. obviously, it will hurt the pocket. >> at least we had a break. gas prices have been on low for a while and now they are headed back up with two refineries down and the switch coming soon to california's summer blend it is all going to impact the price. >>> san jose police are investigating a double shooting that happened after sock last night inside the dzo sports bar on alum rock avenue. two men were taken to the hospital. there no word on their condition. investigators are trying to determine what led to the shoot ing. we will have a report from the scene at 5:30. >> two men are in the hospital after a shooting in san francisco's mission district. this happened at 7:00 last night at 17th police say the victims got into an argument with the suspect would pulled a handgun and shot them both b

. >> have we received money from exxonmobile... >> this is dr willie sune a researcher at the harvard smithsonian center for aft ra physics, with a doctorate. he is a climate sceptic saying greenhouse gases have little or nothing to do with climate change. skeptics like him are a tiny minority, but have huge influence when it comes to politicians who want to block action on climate change. dr sune doesn't deny receiving money from the oil industry but denies that it had influenced research. >> i'll write and they choose to fund me. the only condition is same thing, i will never be motivated by money for anything. >> the environmental group green piece disagrees. it had released documents that suggest dr sume's ties to oil and energy companies are closer and more extensive than previously known. over the last 10 years, the documents say ha has received more than 1.2 million from the fossil fuel industry while publishing papers and scientific journals without saying who was writing the checks. >> what the doctor has done is not disclosed conflicts of interest. he's paid by a coal compan

exxonmobil announced plans to vacate that campus back in 2012. the 2,000 employees who were working there are moving to houston. inova hopes to open the new center by 2017. >>> new at 6:00 tonight, responding to the pajama protest. why some montgomery co teachers say delaying school start times will not help students. >>> same-sex couples getting married in the deep south. a decision today that could signal a larger supreme court late year. >> reporter: the new 95 express lane's b a month, so how's it going? >>> tonight, same-sex couples in alabama are able to get married after the u.s. supreme court refused to block a lower court ruling. it could signal the high court's thinking as it considers a case that has an fekt on gay marriage throughout the country. the chief justice in alabama says he considers the marriage licenses handed out today illegal under the state constitution. fo counties today reportedly refused to issue the licenses. gay marriage is now legal in 37 states and the district. >>> the national football league has hired a woman t

charles: yeah, listen, exxonmobil, let's face it, last year the u.n.ort that was, like, a thousand pages long, you know, one of these climate change things. the very next day exxonmobil came out with a report to assuage everyone who may own the stock saying, guys, we will sell every ounce of oil we have in the ground, every speck of oil. we don't care how much governments around the world think they're going to spend on solar energy, we're going to make a profit on it. that was a buy signal for me. all right, what's your ratio though? >> very similar to hillary, about 08/20. 20% in fixed income/alternatives. maybe 5% in gold. i'm not a fan, but if you feel safe with it, and i would not be buying u.s. bonds. maybe some corporate bonds, i like junk bonds but not u.s. bonds. charles: chris, does age matter? do you adjust -- >> oh, absolutely, i think so. i mean, you think about it, if you're 30, you've got a long time horizon, you should be in growth absolutely all the way. but as you get older, 40s, 50s, 60s, you start to shift from go, go, go growth if

there's exxonmobil. earnings, well the earnings were down 18% compared to the same period a year ago. on the conference call they reiterated their commitment to raising the dividend and that is one of the reasons a lot of people own exxonmobil. as you can see, that stock up 1%. >> volatility, back to you. >> more taxes, more spending. president obama unveiling his $4 trillion budget plan for fiscal 2016. battle lines, of course already being drawn. ayman javers sifting through the details. jane wells in los angeles focussing on one major part of the budget. defense spending. amman, you first. >> remember this is just a proposal from the president. it's not necessarily going to become law. in fact, it's highly unlikely to become law. new tax proposals, including new taxes on corporate earnings that are held overseas. a 14% one-time only teaser rate. then that would go up to 19% on an ongoing basis. also new infrastructure suspending proposed by the president here. $478 billion worth of roads and bridges,

exxonmobil announced plans to ray kate that campus in 2012. its 2,000 workers are moving to houston. >>> a virginia lawmaker who was spending his nights in jail amid a sex scandal has a new trial date. today delegate joe morrissey pled not guilty to four new felony charges. he's accused of perjury and forging documents that are related to a sex he allegedly had with a 17-year-old employee at hiss law office. he got a plea deal in that case for which he's serving a six-month sentence. he's been going to legislative sessions during the day on work release. his trial on these new charges is set to start at the end of april. >>> in just a matter of weeks we could have legal marijuana in the nation's capital. it is shaping up to be quite a showdown between the d.c. government and congress. news4's tom sherwood has more on how the city is moving ahead with its p. >> reporter: the d.c. council chairs sat nearly an hour after a hearing was spoeed to start on how the city will regulate and tax marijuana. that's when and now if it becomes legal la mon a

torrance california thought it was an earthquake when that blast ripped apart buildings at the exxonmobil plant there. flames were shooting from a stack afterwards. they still don't know what caused the explosion but it happened in a relatively new part of that plant. four people suffered minor injuries. >>> now to a hospital scare that could have exposed nearly 200 people to a potentially deadly and drug-resistant bacteria. ucla says seven people have been infected and may be linked to two deaths involving a bacteria known as cre, something extremely difficult to treat and deadly for half infected. the scare appears to be linked to contaminated endoscopes used to examine the inside of the throat. >>> maryland's governor continues to talk about running for the white house. a spokesperson says it's an opportunity to talk about national issues with its supporters. o'malley will visit new hampshire and iowa next month. >>> nearly half of the montgomery county school buildings will have space shortages in the next five years according to the school board president who said there's no end in s

plus, what is the view of oil after he booted exxonmobil from the portfolio, at one time a huge position even though he still rides the burlington northern railroad which has the most oil exposure in the group, that bakken line. buffett might not answer these questions in his letter but i bet becky quick asked them in the extravaganza monday "squawk box." don't bother me during those three hours, don't tweet me. especially if he comments on what ibm said this week about trying to move into high-growth areas that frankly i wonder whether warren buffett might find as faddish and unsustainable. usually i don't like to time trades exquisitely, but do you know -- do you know that for nearly every quarter in the last five years, i've suggested a strategy out here in my game plan that has worked pretty much like clockwork, which is to buy auto zone azo, after the zone reports. it won't be easy. auto zone has been disappointing analysts for the last couple years. you're going to be afraid because they're going to say negative things. but it has been the single most aggressive buyer of its own st

that makes the tech giant worth twice as much as exxonmobil, its nearest competitor. that market cap, exxonmobil worth about $377 billion. and put up your dukes and make money. he might not be able to compete with apple, but floyd mayweather is the highest paid athlete on the globe, according to "forbes," and he just inked a deal that could put him in a league of his own. a lot lot on the cusp p, so lets start the countdown. ♪ ♪ liz: we cannot blame everything on greece. one of the biggest weights on the dow today, boeing. goldman sachs ending its six-year love affair by downgrading boeing to a sell. boeing, of course, a dow component. it is widely held, probably in a lot of your portfolios out there, falling nearly 2.5 %. it is accounting for about 25 points of the dow's losses, but there's always a way to make money, and nobody knows better than our traders at the new york stock exchange, cme group and the the nymex on how to do that. scott redler, clearly after a couple of great weeks where we closed out friday with record highs on many of the indexes, you tell me,

exxonmobil, chevron, hess and bp all gaining ground in today's trade. a different story for the airlines. the inverse relationship holds again. united, american delta, southwest all moving down as oil prices move up. sue? >> let's check the markets for you and get you caught up on where everything stands. the dow jones industrial average is positive by about 167 points, a 33 point gain for the nasdaq and s&p is up about 16 or so on the trading session. let's get back to the trading action with bob pisani on the floor of the nyse. >> up and down, we are at the highs of the day but it makes people's heads spin what's going on. don't kid yourself. we are in the middle of a very powerful rally. i want to show you what's going on this week because i don't see this very often. small caps midcaps and big caps, the s&p 500 all up 3% on the week. that is very unusual. that is a sign of a very broad-based rally. i want to show you the midcap index. you can buy this in the form of an etf. we may close at an historic high for the midcap index today. i said historic

the air quality management district issued a smoke advisory, but exxonmobil says no harmful emissions were detected. oil industry experts say the torrence refinery explosion will contribute to higher gas prices around the state. prices have already increased after workers want on strike. combined, the martinez in southern california refineries produce about 16% of california's gas. >>> drivers at a gas station near the de soro refinery say wild swings in gas prices seem to be part of owning a car in the bay area. >> you know it's going to go back up again. just the way it's going to be. >>> gas prices are also affected by the cost of crude oil. that's actually dropped down again. this is the time of year when refineries shut down for maintenance as they convert. the summer gas is more expensive to produce. >>> so far there's no breakthrough in the labor dispute between dock workers and the terminal operators at shipping companies despite the u.s. secretary of labor's presence. now new tactics to end the stalemate. the shippers made an end run around the union and distributed letters d

i like exxonmobil a lot.t was the international, one of these big international bodies put out a 100-page report on crude oil, the next day exxonmobil said, listen, every speck of oil that we have in the ground will be sold. every speck of oil we will get paid for no matter what any government does, no matter how much money goes through alternatives, so the bottom line is if you want a core name in your portfolio, that's one as well. liz okay. this is an enter day or a year to date, rather, and it looks good. >> yes. liz: here's the one-year picture. it's a little more volatile -- >> that's a beautiful chart. it's putting in a bottom, you can see where it starts to hold really as it gets under 80. those aren't dumb buyers, by the way, crazy speculators who are buying it. i think you may have a wide range for the average investor, but once it gets through 100, it's off of to the races. liz: buffett went and bought phillips specialty, they mistake chemicals that help oil and natural gas flow through pipelines.

investigators are still ironing out how serious the impact is from the blast at the exxonmobil refinery south of los angeles. four workers were hurt. it could take up to six months to hammer out a cause. experts say gas price increases should be limited. keep in mind that other refineries are redoutsing production to switch over to summer blends. >> a doggy thief put chicago on alert and police are not backing down after a break if the case putting owners at east. >> among the stars at the oscars and what it takes to become a professional seat filler. you will be surprised how much that job pays. >> a look at the bay bridge in the camera: smooth as glass on the have you heard of the new dialing procedure for for the 415 and 628 area codes? no what is it? starting february 21, 2015 if you have a 415 or 628 number you'll need to dial... 1 plus the area code plus the phone number for all calls. okay, but what if i have a 415 number, and i'm calling a 415 number? you'll still need to dial... 1 plus the area code plus the phone number. so when in doubt, dial it out! >> across the ocean and r

exxonmobil said no harmful chemicals were detected. >>> stocks on wall street were mixed yesterday as oil prices sent energy stocks sharply lower. the dow fell 17 points. the s&p lost half a point. but the nasdaq finished 7 points higher. >>> samsung has bought the mobile pay company loop pay. this will put them in direct competition with apple pay. loop pay is accepted in over 10 million stores worldwide. >>> things are looking up for people nearing retirement. a number of americans 60 or older who are putting off retirement has shrunk to 63%. that's a post recession low. still 12% think they will never be able to stop working. >> and good news for dr. seuss is publishing a bool. the real author theodor sues geisel died 12 years aeld. the book is "what pet should i get." >> it going to be an addition to my library. >>> straight ahead the gop front-runner for the white house challenges president obama and rivalry thriller. duke and north carolina the rivalry game lives up to the hype. >>> also later we'll meet one of the people who may soon be the first to live on the planet mars. >>

neighbors who live near the exxonmobil refinery near torrance said that explosion felt like an earthquake one was seriously injured in the blast and the cause is still under investigation but groups say expect a 10-cent jump in prices overnight and another 10 cents later because of decreased supply. in addition, refineries in the state are switching production to the cleaner and more expensive summer blends. >> one of the challenges in california and especially in southern california is you can't just bring gasoline from anywhere. we have all kinds of restrictions on the type of gasoline we can use. >> reporter: to make things work the worker strike at the tesoro refinery in martinez is entering its 19th day making it the longest running refinery worker strike since 1980. so between the two shutdowns in southern and northern california the state has lost 17% of production capacity and analysts say the strike will continue into the spring. it shouldn't top any higher than $3.50 a gallon. in san jose kiet do, kpix 5. >> that tesoro refinery in martinez normally employs 650 people and can pr

the medical group is buying a 117-acre site that's now the exxonmobil campus and turning it in to a hub for medicine. mcauliffe was on hand making big predictions about what the new facility means for the future. >> the inova center for personalized medicine will be a game changer for the commonwealth of virginia. this will not only be important for our leadership role in healthcare, but this will be a gigantic job creator in the commonwealth of virginia. >> the governor expects the number of jobs to be in the thousands. among the focus points cancer research and treatment. >>> a full investigation is underway tonight after a female inmate in fairfax county died after she was tasered. deputies say they used a stun gun on 37-year-old natasha mckenna after she refused to reply to commands and physically resisted them. she was removed from life support yesterday. the sheriff's office says it will turn over the result of the internal investigation to fairfax county police. >>> a trial date has been set in the case the defense attorney hopes it leads to the dismissal of thousands of cases an

fire officials in torrance say there want an exploetion in a processing facility at the exxonmobil refinery. it happened around 9:00. you can see two hours later, fire crews still putting water on the fire. they say they suspect gasoline caused the blast. two people suffered minor injuries but were not hospitalized. the refinery is using a flare to burn off more flammable material. officials say there is no shelter in place in effect in the torrance area. >>> and skyfox was over the scene about 30 minutes ago where the highway patrol arrested a wrong-way driver in milpitas following a lengthy chase. the chp says the man was driving south on the northbound shoulder of interstate 680. they used spike strips to stop the man's car and the chase ended near jacklynn road in milpitas before 11:00 a.m. the same man was the subject of a chase in the central valley this morning that was called off. >>> as the west coast port labor dispute continues, the impact is growing for retailers and even the auto industry. brian flores is in our newsroom to let us know how the negotiations are going today. good

. >>> the explosion at an exxonmobil plant south of los angeles is already causing a jump in the price of gasoline. wholesale gas prices climbed six to ten cents in california following yesterday's blast, which injured four workers. the refinery accounts for a large percentage of california's oil processing. the cause of the blast is under investigation. >>> the nation's largest retailer, walmart, announced today that it's giving a pay raise to hundreds of thousands of its employees. for years walmart has taken heat from labor groups over how much it pays its workers. today's move may be an indication that walmart was worried they'd seek their paychecks elsewhere. here's nbc's anne thompson. >> reporter: after ringing up a stronger than expected holiday season, today walmart said it would share the bounty raising wages for a half million employees. >> today we're investing in them and we want them to know how important they are. >> reporter: walmart will boost its minimum wage in this country to $9 an hour in april for 40% of its workforce, almost $2 above the federal minimum wage. the

meteorologist mike nicco coming up with the >> we are trying to determine cause of a blast at the exxonmobil refinery. people felt a blast at 9:00 a.m. and minutes later flames were shooting from the refinery. schools sheltered in place as a precaution. there were no reports of injuries and the refinery does have structural damage. >> we have new details in the deflate-gate scandal dealing with underinflated footballs. a locker room attendant for new england patriots tried to put an unapproved football into the game according to episcopal -- to espn a company of the craft group and the alternate referee said when it was notified he notified the vice president of the league of game operations who was at the time in the resolution box and the footballs in question did not make it and the game. >> the promising news this morning of the fight against hiv and aids researchers have developed a vaccine that protects monkeys from infection. the study published today in the journal says it is protein based treatment that deactivates all major strains of h.i.v. tested and this is promising it would be

this was an explosion at a crucial california row -- refinery and what caused the blast at the exxonmobil refinery south of los angeles. four workers were hurt. it could take six months to pinpoint the cause. they produce 10 percent of the gas sold in the state. the blast will have an impact on gas prices especially as other refineries switch over to the summer blend. >> parents are warned a game played at a high school students pretend to kill each other. the administration at the high school in danville sent a letter to parents of "assassin," students absolute each other with guns painted black to resystem bell real guns and the targets are assigned and last one standing wins. the high school is working with police and warned a student could dart into traffic or toy weapons could be mistaken for real weapons. >> bicycling fans learn the exact route the tour of california will follow this spring. the 700 mile racetracks some of the top riders in the world. the race will include 18 top men bicycle, teens and elite roster of women's teams will join the race. the 2015 tour of california run

. >>> another explosion this one in southern california ripped through an exxonmobil refinery. it triggered this a huge smokestack fire with a cloud of black smoke pouring into the sky over torrence just after 9 a.m. workers fled the area when it happened. refinery officials shut down the facility and burned off any fuel that could add to the fire. neighbors said they thought the explosion was an earthquake. four people were taken to the hospital with minor injuries. >>> and check out the damage from that blast. white ash rained down in the area covering parts of the refinery. cars and nearby parking lots also coated with ash. students at 13 nearby schools were kept indoors and a smoke advisory was issued for the area. the blast could mean higher gas prices. a gasbuddy analyst says fuel prices are likely to increase. not clear by how much. this is the second oil refinery in california to run into trouble this month. the tesoro refinery in martinez shut down because of a strike. >>> survival and suffering for a san francisco family. they barely made it out of a massive fire only

we'll say that strike and an explosion at exxonmobil refinery last week has helped push up gas prices the average price of regular unleaded rose 13 cents over the past two weeks and 26 cents in the last month. that's more than a dollar over last year. >>> a survey on personal hygiene will have you talking. michael phelps takes the plunge. he's engaged. meet his bride-to-be up next. i want my foyer to smell more like a foyer. i want his bedroom to smell like he's away at boarding school. surround yourself with up to 6 hours of luxurious, long-lasting scents... ...introducing new unstopables air refresher. i found out the hard way... not all washes take care of intimate odor. vagisil odor block wash stops odor from happening for all day confidence. when you feel fresh all day you feel confident. vagisil. your intimate health experts. what if getting ready was this easy? now teeth whitening is! with the colgate optic white toothbrush plus whitening pen. just brush whiten, and go! its stay-on formula deeply whitens for whiter teeth in 2 days. optic white toothbrush plus whitening pen. bru

state records show the exxonmobil facility had been fined more than $100,000 over the past five years for health and safety violations the refinery shut down expected to have an impact on gas prices. prices have risen more than 10 cents in just the past week. gasbuddy.com says the average price of a gallon of regular unleaded in san jose is $2.82. $2.689 in san francisco. and $2.81 in oakland. >>> another sign that apple is getting closer to entering the electric car business. people close to the project tell bloomberg the company now is aiming to launch as early as 2020. now, the rumor mills have been swirling since this mysterious minivan was spotted in concord in the east bay last month. apple has hired employees in companies like tesla, as well. according to a new lawsuit, apple has been poaching engineers from a company that makes car batteries. so we shall see. >>> time now is 4:51. still ahead, walmart get giving employees a pay raise. the effort to change the compan xñyÑ5Ñ >>> for several months the bay bridge has been coming down but now there is a plan to demolishing it expl

exxonmobil said no harmful emissions were detected. >>> most asian markets were closed for the lunar tokyo's nikkei added a quarter percent. the highest in years since gaining financial and shipping companies. >>> stocks on wall street were mixed yesterday as sliding oil prices sent energy stocks sharply lower. the dow fell 17 points. the s&p lost half a point. but the nasdaq finished 7 points higher. >>> samsung has bought the mobile payment company looppay for an undisclosed amount. this will put them in direct competition with apple pay. looppay is accepted in over 10 million stores worldwide. >>> things are looking up for workers nearing retirement. a careerbuilders survey finds a number of americans 60 or older who are putting off retirement has shrunk to 63%. that's a post-recession low. still 12% say they don't think they will ever be able to stop working working. >>> and big news for dr. seuss fans. random house says it is publishing a recently discovered book they found this summer. the real author theodor seuss geisel died 20 years ago. "what pet should i get" was found in

the dow opened 305 points higher this morning with energy stocks like chevron and exxonmobil leading the surge. a 7% jump in oil prices is getting much of the credit. crude oil closed at just $53 a barrel after dipping as much as 60% over the last seven months. >>> toyota is expected to appeal an $11 million verdict over the safety of its camry. a jury in minneapolis decided the carmaker was 60% responsible for a crash that left three people dead and two seriously injured. jurors also found that the driver, though has a long -- has long insisted he tried to stop before it slammed into another vehicle, said he was 40% at fault. >>> meantime, toyota says its sales rose 16% compared to last year and it wasn't the only big automaker posting double-digit gains. general motors up 18%, ford and nissan had 15% gains. industrywide it was the best january nine years thanks to low interest rate cheap gas and generally favorable weather. >>> coca-cola is getting into milk. coke's minute maid division will start selling fairlife premium milk nationally next month. it's said to have more protein a

a blast ripped through the exxonmobil refinery in the southern california city of torrance this morning. the blast sparked fire which firefighters quickly put out. police order nearby residents to shelter in place for a few hours. neighbors say they felt earthquake-like shaking before they realized what happened. >> everything you know everything in the house was shaking, and it felt like the ground, you know, it felt like an earthquake at first, but it didn't last very long, it was -- only lasted for a few seconds. that's how i knew it was some kind of an explosion. >> company reps say four people were taken to the hospital. no word yet on what triggered this blast. tonight on nightly news digging deep near the sudden blast and what may have caused it. a full report from southern california coming up tonight at 5:30. >>> a court order may have put president obama's immigration reform on hold but activists are not giving up would have been the first day that thousands of undocumented workers could begin filing to protect themselves from deportation. instead, it's gain of protests and pl