exxonmobil is a fossil fuel company.t of tax credits and benefits. >> we should end those. renewables they're not a profit center so he's speaking reality. as if we were to say to mcdonald's you're experts at burgers and fries let's see how the business economics works out. neil: they did and it has not worked out. howard, what do you make of that. i'm not surprised this is the head of exxonmobil saying this. he's saying i always say if they find a nickel they would do, it obviously, exxonmobil explored the alternative technologies to little avail. what do you think? >> i think you look at their largest competitor out, there which is shell. shell is heavily investing in this space, they view it as a hedge. so to say it's not -- we're not in the business of losing money. neil: that's an excellent point. >> not only is it misguided and misinformed, dissimulating true opinions or ignorant thing to say for a ceo of a company like that. neil: do you think, mark, on that level alone, the shell thing is a good example would it

exxonmobil shares dropped today along with the rest of the market. >> reporter: a big beat for exxonmobil even if expectations were drastically reduced. revenues are down more than a third fr year ago almost mirrors the 40% drop in oil prices during the last 12 months. exxon and other energy companies making moves to reserve cash. ceo rex tiller said doesn't expect oil prices to rise quickly despite the 10% bounce we've seen so far this year. oil near their highs for the last year but traders agree crude could stay near $60 a barrel for some time. >> i think oil found a short-term botto influence number one. a few other factors are supporting prices. if you're a company and oil producer right now and you survive the $42, i certainly see a brighter future ahead for you. >> reporter: investors took notice when mentioned lower prices improved the refining operation. a 4% dividend rate to 23 cents a share also made insmile. we're finding profits are a common theme this week softeningm reduced overall earnings like shell, bp. smaller companies without big refining corporations not there as wel

i got you $25 gift card for your next fill up the exxonmobil. >> tomorrow, every friday, will be foodyy, i will will bringing delicious crazy dishes from local restaurants, what better way to start off than with chicken and doughnuts. >> to sample or lunch? >> we'll see. i getting ahead of myself. >> vicious here, like an election. >> i am not afraid of anything that is true. i let them be as vicious as possible, keep the campaign cheap. and we will -- clean and we will win. >> the mayor of west new york we stat in his favorite spot. he was elected in 2011, this year he is running for reelection you thought things were bad yesterday have you not seep anything yet. i was here last month looking into a -- that went against his opponent. wyllie, a commissioner here, once a ally, now enemy. >> we got into office there was no goals accomplished. all he had on his mind was power, control and greed. >> a respect said he used school district as political patron i think and wyllie has a few choice words. >> he felt need to lay the hammer on everyone, control and intimidate. that is how he leads

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, though, 2/3 of americans do support the keystone pipeline, and that number has not budged in the last two years. tom: it really has not. betty: so, it seems like you are in a minority there. tom: i think that this is a topic on which people, a, do not really understand what it is and, b, it is always presented as either we do this or we do nothing. that is absolutely not true. we are not going to run the society without energy. it is just a question of how we think about it. betty: but keystone is just part of the problem. steyer says the 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

exxonmobil. >> let's talk about exxonmobil. the hundreds to the 87s. >> how about telnev. >> that's an interesting stock coming from me. but there are some dynamics happening where the car -- the automobile is actually becoming like a smartphone. what telenav does, it incorporates a lot of different figures and features on to the dashboard of the car. you have your radio. you have your weather. you have your directions. >> a lot of car companies use them. not just gm and ford? >> well, gm and ford are the primary ones right now. virtually all the new cars have telenav. gm just signed on. an impressive company when it comes to the fact that that is one of the biggest functions of telenav. the second is that telenav is involved with this on-site advertising. on your device if you were to walk towards a store or business, you would that get advertisement targeted towards you. revolutionizing advertising. >> unless it's a coupon, i'm not interested. jeff, great to see you. we'll put up jeff's picks on foxbusiness.com/lizclama n. go

and the reason is that the exxonmobil, they can wait.be they're actually trying to see what will be the profitable and winning technology in clean energy. like, for example -- charles: but they know. they already said. they said, listen, we know what it's going to be. there's no -- it's not -- forget about all the other stuff. you're wasting taxpayer money. there's a national curve to these things happening, and it goes out maybe three or four decades. >> look, here's the thing, when it comes to clean energy, the utility companies across the country are actually making a good profit on so many of their divisions. charles: why? in california they mandate that people pay extra for this stuff. so -- >> it doesn't mean that exxon has to do it. charles: right. >> but the old florida gas and electric company, if you look at their division, they are making a grand profit -- charles: again -- >> but it's not, you don't have to force exxon to take on these projects in the capital spending. other -- if it's economic, other companies will do it on

but the ceo of exxonmobil isn't on the same page. rex tillerson telling shareholders the jury is still out on climate change pushed back calls for exxon to invest in renewable energy saying we choose not to lose money on purpose. my panel is back to discuss this one. jack people say attack him for not believing in climate change but he chooses not to lose money on purpose that's his legal duty. that's his fiduciary responsibility is to make money for shareholders. >> it is a fiduciary responsibility, and exxon is really an anomaly. if you look back over the past half century or more in the u.s. stock market, there's a curse when the company is the biggest company in america it suffers a fall from grace. exxon is the only one to really defy that. it was on top and it's still hanging around the top. if it wasn't for apple, it would be the biggest company in america, you don't get that way by worrying about things that make you money you look out for the bottom line. melissa: shareholders green energy survives on government mandates tha

. >> corporations like exxonmobile and sev ron are using the investor state system to change climate clean energy. they are winning too. elana heads the responsible trade programme. one of many voices warning about the chilling effect that the dispute could have on government regulations. the symbol that it spends is when a government puts in place at the state and local level, they are vulnerable to costly trade cases. that is the chilling, that governments will think twice about whether they put in place public interest policies. >> which is why a former quebec environment minister questions the motives behind lone pine's suit. >> i do think that the lawsuit by posture. >> it's no coincidence it that lone pine's suit canada, within months of him introducing a bill that would have expanded the fracking ban. >> they wanted to apply pressure, they want the government to fear and to say that they - to be influenced by this lawsuit. >> reporter: canada is for from the only country sued under trade deals. the united states has been sued 11 times under n.a.f.t.a. so far the u.s. won every

oil terminal and lewd plant today calling for governor christie to undo a controversial deal with exxonmobil, the site's former owner. they say the ground water is contaminated here and exxon is being let off the hook. under the deal exxon would pay $225 million for damages at 18 industrial sites and more than 800 gas station across the state. that includes the paulsboro oil terminal. the deal sets aside a million dollars for cleanup at the terminal terminal. original estimates came in at more than $80 million zbla are the richest oil company in the united states and they are one of the biggest and richest corporations in the world. and yet they what about to leave paulsboro holding the bag. >> as part of the settlement exxon is also cleared of any wrongdoing. now the group is calling on governor kpristchristie to go back to the bargaining table with exxon to come up with a new deal. >>> police and school officials met in delaware county to prepare for the upcoming papal visit. septa was there as well. it will play a major role as many people are encouraged to take public transportation in a

carol lloyd, who is the engineering vice president at exxonmobil's upstream research company. she's also a long distinguished career both with engineering management at exxonmobil and imperial oil. she is the smartest person on technology i've ever met. if you have technical things, write to her. to my right we have ms. drue drue pearce. senior policy advicer at the natural resources and government affairs group. she is an alaskan and has been a senior advisers to two former secretaries of the interior on a range of issues. specifically with alaskan affairs. she was the first federal coop nader in the office of the federal coordinator for the alaska natural gas transportation projects. it's a mouthful. drue is a legislator and served for 17 years in the alaskan state legislature. she's going to help us in a powerful perspective from the state of alaska. so we have great slides. each of the panelists have a short registration. we'll begin with paula from the department of energy's perspective. turn to carol for the industry perspective. drue is going to do cleanup, and then we'

stabilize in a lot of integrated names have not dropped as much as long dated crude has, i'm looking at exxonmobil out to the july 87 puts, you can spend $2.75. play a little reversal in crude by making a bearish bet. when everybody is getting bullish on crude, i think you should get a little nervous. and let's remember, iran, if sanctions are lifted, there's going to be more production there. more of a brent market issue. >> do you like spending 2.35, dan on this trade? >> it's kind of meaty, but crude has had a massive run like these guys have said, if it's running out of steam, the balance on exxon wasn't impressive off of recent lows. i expect if crude does go back down. equities could get panicky and the once that didn't perform that well off the the lows make sense. volatility in exxon is pretty cheap. if you get this thing turning south and vols go up, you'll have the opportunity to spread these and reduce the premium at risk. >> spread them, right? we might get a little back-off on oil, i expect it to trade 55, 56. we talked about oil volatility start could come in, that should start to af

apple beat expectations, as did exxonmobil. ford fell short, and so did twitter after an accidental early earnings release. and former federal reserve chair ben bernanke is a busy man. he just took his second job if two weeks. this one as a consultant to investment giant pimco. here in omaha, it's all about birk shire hathaway and warren buffett. they own 100% of the rail giant bsf, who had been underperforming. now buffett says things are looking up. >> they've improved dramatically. if you look at the figures in the first quarter in terms of train ve loss si, even in terms of earnings, you'll see a big, big change relative to the union pacific, which is our yardstick. so it's turned around even faster than i thought it would. >> that's good news for burlington northern checktive chairman matt rhodes. the company is the nation's second largest freight rail system and hauls half of all the freight in the united states. that's nearly $70 billion worth of consumer goods and commodities. that gives him a pretty good view on how th

now, shoppers can use any credit card, among the company taking part, macy's, exxonmobil. >>> the latest avengers movie may have suffered a bit of a technical knockout, if you will. "the age of ultron" from our parent company had the second strongest domestic opening weekend ever, but it might have been done even better if not for the big boxing match keeping people from the theaters on saturday night. "avengers" pulled in $188 million then "the age of adaline" took in 6.3 million, "furious 7," 6.1 million. >> well, not a bad start anyway. >> no. >>> well, when we come back, trapped in the snow and desperate for help stranded sisters are talking about their weeks' long ordeal and animals trying to get inside their car. >>> and perfect timing. a fan catches a home run ball and records the whole thing. and when you bundle your home and auto insurance through progressive, you'll save a bundle! [ laughs ] jamie. right. make a bad bundle joke a buck goes in the jar. i guess that's just how the cookie bundles. now, you're gonna have two bundles of joy! i'm not pregnant. i'm gonna go. [ tapping

i think it will preble be above 60 at the end of next year so i'm looking at exxonmobil out to the july7.5 put, you can spend $2.35. >> trade looks pretty good, mike. you looked spiffy in that that shot, also. tie. tuck sxed tuxedo. >> got all dressed up to talk about oil. >> i don't know if goldman sachs $45 price target for oil will hold up or not but i will say this, this is a situation where along these puts they here in the money. i think the best play at this point is probably to roll down and out. you can either go to the august 58s or even out as far as october because that's approximately what those july 87.5s are worth. >> why do the equities move with oil? >> in general they do. today we have a big ricochet in crude. but the energy stocks had their bounce if you will. >> meaning it's done? >> meaning after long precipitous decline, you get a violent ricochet up some 16% off the low, you reach an equilibrium price and that's what's happened with the energy sector. right now just stay away from it. >> o other point is that oil is off a lot from its all time highs and these inte

it went in the pockets of exxonmobil and speculators on wall street. it didn't go into the infrastructure. the american people would sure as heck pay 1.7 cents to rebuild our system and make america more competitive and hundreds of thousands of to work than in the pockets of exxonmobil and wall street speculators. it's time to suck it up around here, act like men and women who were sent here to make tough decisions, to regain our legacy, to begin to bring america back toward a world-class infrastructure. it would take many years and many tens or hundreds of billions of dollars to reclaim the legacy of the eisenhower era, but it's only a lack of will. will that prevents us from doing that. there is no major impediment. nobody is going to lose their election over 1.7 cents a gallon. in fact, people will thank you at home. the trucking industry is begging, begging for an increase in the diesel tax. the american -- the united states chamber of commerce when's the last time they asked for an increase in the tax? and look all across, retailers, the spectrum,

meanwhile multimillion-dollar donor exxonmobil quietly pulls its support from the clinton foundation after consistently giving since 2009. back to my panel to discuss this one. matt welch, what do you think about exxon getting out? what does that say? they gave between one and five million dollars to the foundation last year. >> it is toxic environment to be involved with the clinton foundation. it will not get any better for the next 12 to 18 months. this is single biggest investigation area for opposition researchers besides hillary clinton's vast trove of missing emails. people don't want to be near that. those who want to be near that, are those that want foundation to into davos-like elite foundation. that is the purpose. foundation, that is really true. judy, announces, 25 days goes by, avoiding smead media like the plague. maybe that is smart strategy. >> tells me she doesn't have to. bill says, gosh we have to give expensive speeches to pay the bills. melissa: i never knowingly did anything i shouldn't have done. >> never knowingly. so far getting awith it, even though her su

activists calling on new jersey governor chris christie to reject a proposed settlement deal with exxonmobileay oil leaks spills contaminated the groundwater and exxon is being let off the hook for the cleanup. under the deal exxon would pay $225 million for damages at 18 industrial sites and more than 800 gas stations across the state. that includes the paulsboro oil terminal. the deal only sets aside $1 million for the cleanup at the terminal. estimates came in at 80 million. >> they are the richest oil company in the united states and they're one of the biggest and richest corporations in the world and yet they want to leave paulsboro holding the bag. >> as part of the settlement exxon is also cleared of any wrongdoing. the group is calling on governor christie to go back to the bargaining table with exxon to come up with a new deal. >>> natural gas production in pennsylvania is surging, even surpassing several opec nations because of the marcellus shale. that's according to a report by the american petroleum institute. some geologists estimate there's enough natural gas beneath pennsylvan

exxonmobil's in your portfolio, their 20-year top holdings.about the name. >> well, parker hannifin is a different animal, but exxon, royal dutch, british petroleum, these companies are -- were out of favor way before the fracking issue came to pass. in fact, they are the reason -- i think fracking is the reason these companies were out of favor, because oil investors all of a sudden had a chance to participate in this excitement about the reemergence of the american oil industry, so paid big, big multiples. even at the $65, $3 earnings that you cite, that's a 30 times earnings or more, for a commodity business that has a very rapid decline rate and i don't think it's the kind of asset that big major would want. the big majors are interested in long-term stable sources of earnings and cash flow. the whole investment case of exxon, bp, and shale has been to shift away from those kind of investments and more towards lng, gigantic deepwater drilling projects that lost for 30 and 40 years rather than 3 or 4 years. and because those are unexciting,

, but not a penny sales tax to someone today buying $100 billion worth or $100 million worth of exxonmobilivatives. that will really get it specific. he cannot allow her to generalize agreement with him to try to neutralize him. juan: ralph, you mention all of these progressive senators that respond and the president doesn't respond. what person did respond -- one person did respond, michelle obama. can you talk about that? >> this is an important letter i wrote. i wrote it actually three times. you read about president obama going to chambers of commerce, going to business gatherings all over the country, but he is never addressed the voluntary nonprofit sector. the groups a deal with charity deal with children's needs, environment, labor groups, religious groups, groups that are advocacy groups. when jimmy carter was elected president, we gathered 1000 of these leaders who have millions of members like the national council of churches, have a lot of members around the country or labor unions, etc., in a hotel about two blocks from the white house. it was a very successful meeting with ji

>> i'm surprised there's no energy companies dominant on it besides exxonmobil. that most generations have to energy. energy is something that i believe in a diversified portfolio you need to have. i'm surprised by it. >> megacap, megacap names. >> they made acquisitions, so if you held the company that got bought, you ended up with exxon. >> wouldn't you expect the exxon to be in the portfolio. joe is looking at energy. what surprised me is the most is the millennials and the gen-xs, have no exposure. and you start looking at the johnson & johnsons, and pfizers and some of those names. that's been an area that's had great growth, great yield. folks are looking for some stability along with the teslas and the apples of the world. >> we thank our buddy jj cunningham from td ameritrade for sending this information over. have you seen the list? >> as they would say at the buffett meeting, i have nothing to add. >> is there a stock, apple is the most popular among all generations. and you're an owner of apple. is there one stock that jumps out to you and you say in m

when addressing questions on why exxonmobil has refused to invest in renewable energy or research ther this week, though, it was a different story. abbott labs maker similar lack, announced it would no longerer use gmos in its baby formula and look at this. more and more companies are acing we're going to do the right thing. spam doesn't last for three decades, what are you going to use for currency when the world goes all to hell? never mind that though. bowing to political

it's making saudi ramco look a lot like exxonmobil.m not sure the saudis would like to hear that, but i think that's what's happening. in fact it's a very good thing. that may bring a lot of changes in the kingdom in terms of running the economy, because the company which is now the second largest chemical company in the world after b.s.f., they have lost their chair, c.e.o. the c.e.o. is now working in the minister of defense. what he's doing there, i'm not sure. i believe and perhaps dr. cordesman would know better, i believe he's working on appropriations and things of this nature. which means it's part of the professionalization of some of the problem ministry health and ministry of defense. so i would not be surprised if there was some reorganization in saudi arabia of maybe saudi ramco becoming much more of a chemical company because of him. or on the other hand maybe take the chemicals away and put them into sabic. in terms of the ministry itself, now that the ministry's not supposed to be supervising saudi ramco, they still hav

it went in the pockets of exxonmobil and speculators on wall street. it didn't go into the infrastructure. the american people would sure as heck pay 1.7 cents to rebuild our system and make america more competitive and hundreds of thousands of to work than in the pockets of exxonmobil and wall street speculators. it's time to suck it up around here, act like men and women who were sent here to make tough decisions, to regain our legacy, to begin to bring america back toward a world-class infrastructure. it would take many years and many tens or hundreds of billions of dollars to reclaim the legacy of the eisenhower era, but it's only a lack of will. will that prevents us from doing that. there is no major impediment. nobody is going to lose their election over 1.7 cents a gallon. in fact, people will thank you at home. the trucking industry is begging, begging for an increase in the diesel tax. the american -- the united states chamber of commerce when's the last time they asked for an increase in the tax? and look all across, retailers, the spectrum,

when you look at the needs of zurich and exxonmobil, when it comes to drones.tastic nobody getting the information out there. >>. >> we'll see if on the commercial side if there's a bigger player coming to the fore. thank you. >> appreciate it. >>. >>> time now for a "cnbc news update" with sue herera. >> here's what's happening this hour. tesla going into the used car business. the company has begun useing selling used versions. company offers an extended warranty on used vehicles. >>> a former goldman sachs employee was convicted on charges of stealing codes. the jury was dead looken on a third count. >>> police and may day dim demonstrators clash eded. as many as 10,000 police officers were reportedly called in to block the protesters. >>> it's the end of a labor day tradition. the muscular dystrophy announced it is pulling the plug on its annual telethon. the new realities of tv viewing and philanthropic giving made it the right time to sign off. your up to date kelly. back to you. >> we certainly are. sue herera back at headquarters. >>> six police officer

as exxonmobil did yesterday, chevron beat by a wide margin on the top and bottom lines. that. they lost money in their u.s. upstream operations. lost $460 million. they were able to earn $1.37 but erb earned $236 a year ago. they are going to deliberately try to cut costs. for the year, forecast was for 3.85 is what the street is looking for, they earned $10 last year. nice to say they beat expectations, but earning less than a half last year. at the new york stock exchange jim cramer joins us. do you play around with the derby. you love numbers and stuff like that. i'm having trouble. should i pick far right just for the name? >> no seize the day, carpe diem. i took a handicap in horses. garden state was beautiful. >> i was going to do carpe diem. big brown's son. >> did not finish. at the breeders' cup, my horse is still running. >> i think you'll agree with me to win the triple crown, you have to win the kentucky derby. so we'll know whether there is a possible triple crown after the derby. >> yes. that's like when chevron reports it could be good. >> what i meant was

fossil fuel companies like chevron and exxonmobil have brought hundreds of disputes against almost 100 governments when those governments' policies threaten corporate profits. in fact, more than 85% of the more than $3 billion awarded to corporations and investors in disputes has come from challenges against natural resource energy, and environmental policies. last week on the floor i compared the big tobacco playbook -- that's the one that was found by a federal court to be a civil racketeering enterprise -- i compared that playbook to the fossil fuel industry scheme to undermine climate action in the u.s. the comparisons are self-evident. well the tobacco industry is in on the trade challenge game as well. challenging countries' antismoking measures under the guise of protecting free trade. if a country wants new health or environmental rules big multinationals can use this isds process to thwart them. they don't necessarily even have to bring the challenge. just threatening to seek extrajudicial judgments in the millions or even billions of dollars from panels stacked with corporate

his fossil fuel backers include the american petroleum institute, exxonmobil the charles g. koch foundation, and the southern company. most recently he's been getting his funding through donor's trust, the dark money identity laundering operation that amonomyzes corporate and polluter donor money. and by the way the biggest mark in the whole beast is right there and that is donor's trust. the manipulation of science is pretty egregious. some of dr. soon's research contracts gave his industry backers a chance to see what he was doing before he published it some of these contracts even had clauses that promised dr. soon's fossil fuel backers would receive -- and i quote -- "an advanced written copy of proposed publication for comment and input." "the new york times" reported that in correspondence with his fossil fuel funders dr. soon referred to the scientific papers he produced as deliverables. ha. deliverable, indeed. the fossil fuel industry has had to work against mounting evidence to cover unthe risks -- cover up the risks for as long as possible. same with big tobacco.