rwe,the point of view of they want to sell their oil and gas unit and focus on the core business, power energy production. it tends to work from both sides. still, it is a sign, from the russian point of view, that this is business as usual. their investments company is based in luxembourg. it isstingly enough, advised by a former ceo of bp, lord brown. david just said that they will be buying stake in. pirelli. >> they could be on the sanction list. on buying 50%ead of the italian tiremaker. they sell the products throughout all of their gas stations in russia. a tightening of an arrangement between these two companies. >> thank you so much, david tweed. story.d to another jimmy choo. we are joined at the very latest. why are they considering an ipo? me for a a great ti reseller. retailers that have unknown names are up 40%. why not do it right now? >> this is appealing because we are talking about luxury and high end luxury. it is a good brand and recognizable. >> yes. >> anything else that investors should watch out for? >> apart from the shoes? like jimmy choo and gamo, forferra inv

we have more natural gas than we can use in the united states. our current reserves are roughly 97 times what the u.s. consumed in all of 2011. there is so much natural gas in north dakota that there are 15 flare-ups now which would be equivalent to eating over a million homes. that is gas they are burning off. we have abundant natural gas in this country primarily in texas. there is an ice-cream company in texas, blue bell, the best in the world, that says there is a commercial, each all we can and sell the rest. that should be our policy with natural gas, we use all we can and sell the rest and here is an opportunity we could buttress the economic, political weapon the russians are using against the former soviet republics to bring them back and that is the use of natural gas and this legislation would simply ask, but part of this bill, requirement that the united states have a policy of moving forward with exporting natural gas to the ukraine and other countries according to the new york times, the obama administration is pushing the idea ahead

one of the timing of this next piece the german pilot john rwe selling in oil and gas unit the russians. l and r w the wants to give it a if it's heavy and the death note. by the actu and it seems to be at a crooked kind of last minute deal that we've seen here are the really mind if you said the sanctions that to the steel. wouldn't it be yet able to do it today or tomorrow and this is why they did it yesterday as some analysts were saying our dummy east as the slightly up the dax is gaining a one and a half to send your stats fifties up by one and a third of a percent while wall street started off hire one in the squad of ten plus he'll while the euro. the is up to live and to the above went on a thirty nine. humble thank you very much for the analysis. a closer look now and that i don't pee wee story which has just mentioned. absolutely because despite tensions with moscow over the crimea standoff it's business as usual for german utility giant our wb which says it has struck a five billion euro deal with the russian backed blair won a contest. the rwe sell off of its oil and gas in

gas. is there something that pushes the united states to export more natural gas as a result of this? >> well, absolutely. you know, for so long, u.s. policy towards gas and oil have been seen through a prism of template of our diplomacy. but look, over the last couple of years, our energy reality has been fundamentally reformed. so what we should think about now is energy literally and figuratively as a resource as a strategic instrument or tool. we ordered the opening up of liquified natural gas exports to places like you kravenl oil exports, we ought to look at the transfer of technology so a company like ukraine can have their own shell deposits. they have a little military reach to near or abroad. what they got is oil and gas. the united states could help dilute russia's comparative advantage if only we would change our export policy and i would think this is something the white house and republicans and congress ought to be able to agree on. >> obviously, this will put a little more pressure on all of them to get together. what's the best case scenario? what's if worst case scen

gas is that? well, let me just tell you. it is more than twice what the ukraine uses in a year. the united states has already committed to doing that. more than a quarter of all of the gas in europe imports in a year would be ascribable to the amount of natural gas the united states has already approved. it would be what the united states uses yearly. the department of energy found that exporting 4.4 trillion cubic feet, a level we will reach within the next approved export terminal, quo raise the price -- could raise the prices of domestic natural gas up to 54%. that could mean that american consumers would pay $2.50 more per thousand cubic feet. that translates into, listen to this number, ladies and gentlemen: $62 billion energy tax every year on american consumers and businesses. what do i mean by "energy tax"? but i meaning but for that exploitation, consumer bills would be $62 billion lower per year over the next ten years. can you imagine a debate out here in the united states senate over increasing $62 billion worth of taxes on americans in one year? we would come to a standstill i

i think, so it was either a built-up gas explosion that ignited by a worker or hot water heater, gas uniting. once that pops like that, you get an enormous amount of debris, that's probably where the original injuries were from and started the fire and now the fire is roaring, building collapses, and here we are. >> let me ask you finally and very quickly, if i can, exactly what other units, obviously, we know the firefighters are there fighting the fire, the rescue units around the scene, as a matter of abundance of caution, the antiterrorism unit there. who else would be there? >> well, i'm sure emergency management is there doing their thing, bringing in heavy equipment, it's probably already there. they are going to need it to move that stuff out of the area so the firefighters can continue searching. they want to get through as much of it as quickly as possible. if there is someone, maybe was lucky enough to be underneath at an angle where there's debris that is preventing them from being crushed or overcome with the fumes, so there's -- the biggest, i would think, of course all the

gas. >> united states senatet passea very strong economic restriction on the soviet union. the house will follow, and rule monetary fund gave $14.5 billion. that's a pretty good chunk of money and my guess is weapons are going in.we >> well, all is what we know. they said they're not. >> dana, where do you come down this? i'm not kidding here, i mean, i would prefer that president obama focus on march madness, maybe help the first lady plan her next junk dt. the last thing i want is for hiu to draw a line that he's not really committed to cross, stumbling into another war with the russians. that's just my take. watch house of cards. i don't care what you do. i think hard men and capitol cities have taken notice. this is way too dangerous and he should stayy out. >> i disagree. i thinank the president shouldt forget all that other stuff.op stop the pop culture stuff and all the between two ferns and focus on this. i have two things to say since i was allowing you all to have your argument. first of all, i think in a leadership position, you need two basic things. you could h

gas spikes because of this novel arrangement. >> that is correct. and that's important to us, jim, for two reasons. number one, in our steel mills, being the largest producer in the unitedtates, we consume a tremendous amount of energy both in the form of natural gas and in the form of electrical energy produced by natural gas. so we consume a lot of natural gas. natural gas pricing, the cost of our natural gas is very important to our total cost structure. so that's the first issue. so making sure we have a long-term supply of reasonably priced gas at cost is very important to our steel mills. but also, as i mentioned, we consume a tremendous amount of natural gas right here at this dri facility. we consume here about 25 billion cubic feet of natural gas a year right here in louisiana. >> just in this. >> so having that arrangement with encana provides us security on our dri investment and provides us a guaranteed cost advantage. >> let's talk about the notion of security in terms of even domestic security. what are some of the countries we would have to deal with and be hostage to if it weren't for plants like this? >> well, dri, direct reduced iron, is a scrap substi

situation with natural gas -- natural gas for unit of energy is 75% cheaper than the energy that comesut of oil. 5% discount. this is dramatic. anyone who is dependent on expensive gas that is priced on the same basis as oil is actually spending three times as much as they could do as the u.s. does for gas. since gas is the fundamental driver for electricity and for chemicals in these sorts of things, it is a very biggest advantage not to have domestic supplies of that are big enough to compete to allow gas to compete with itself. i say that because i don't know how that will work out in the long-term. right now, it is getting huge advantages to gas that gives the manufacturing base in advantage that is affecting europe's future at the moment. it is being disadvantaged by the cost of its energy. as to opec, opec is one of those things -- everyone has written the obituary of opec more often than i can remember. wishful thinking says we would like it to go away. indeed, one of the founding members is about to decouple its industry from control. i think the main point is for opec is not a

german utility says it has agreed to sell its oil and gas units 201 energy. l1 energy.u consider that the european authorities are coming up with the name of potential russian oligarchs who they will put together a blacklist against. these guys to not have much to do with crimea and they got out of their oil and gas business when they sold their stake for $5.1 billion last year. what is happening is their company, which is based in luxembourg, they will actually 5.4 alienwe for about euros. -- billion euros. they will use that as a launching pad for further oil and gas investment. they want to use that to build. it is based in hamburg and it has interest in the north sea and germany, denmark, and also egypt. it has some luminaries on it like lord brown, a former chief executive officer of bp. ceo.w gould was a former they are on the board or advising level one. we -- rweense, rgb can pay down debt. they want to focus on their core business, power generation. it is an interesting deal all around. >> watch out for shares in rwe this morning. >> the world's longest civil w

gas. lng imports declined in europe as a result of more favorable pricing terms from pipeways like norway or russia. the united states doesn't direct commerce and leave it to private companies into the market except in times of war and natural emergency. we have taken a stance against using natural gas as a weapon. more importantly this could distract us from the critical task of shoring ukraine economically. i know the committee has more questions on ukraine and it is country i have spent time working in and i will wait until the question and answer time. >> interesting perspective. thank you. we will now hear from the minister jaroslav neverovic, >> thank you for allowing me to be here. i will share a phrase freedom isn't free. i want to return to the vote in 2008 on the enlargement of nato and a year later we became members and this year we celebrate the anniversary of our membership. and thank you for your leadership. lithuanian has become a free market and a trusted international partner. we are operating with the united states closely including fighting terrorism in places such as afghanistan. we are ver

produces and hopefully, this first wave of gas coming from the united states could displace that gasoon do you think that could happen? >> the plant will be up in '16, '17 but all four or five should be up and operating fully by 2020. >> that sounds good. all that means for the consumer and for prices that we pay? >> we don't see this changing the consumer hardly at all because there is so much gas in the united states, we have large fields in the united states. we are not even drilling because we have so much gas and prices are so low. >> thank you very much, michael smith, for joining me. we'll have much more from the conference coming up. back to you. >> thank you very much. >>> anyone up for stocks? the one stock that is moving today because the world can't seem to get enough of this particular drink. we will tell you what it is. >>> we are getting closer to revealing today's mystery stock. our first hint was boterro. next hint, at night. predicting the future is a pretty difficult thing to do. but, manufacturing in the united states means advanced technology. we learned that tec

gas. here in the united states, obviously.s that affecting or off setting the production in the united states? >> well, in the united states specifically, as you pointed out, we have substitution between coal and natural gas. we have a huge capacity at the power generational level. around 9 bcf a day of coal to gas switching and capacity exists in the power generation market and that in context of a 70 billion cubic feet of market tells you you can replace 13% of natural gas consumption on a given day using thermal coal and vice sa versa. and so the shale is freeing up a lot of coal consumption in the u.s. and now being exported and remember the other driver is environmental concerns. we are trying to move towards cleaner fuels and trying to replace dirty coal, which makes up almost 40% of the power base with cleaner fuels and that is very important driver and trying to use wind, solar and hydro electric power and definitely natural gas as well. >> i remember riding in the subway here in new york city and seeing ads for clean

gas. he laid down a weak and rhetorical marker. he said the united states nor europe would not be coming to ukraine's defense militarily. >> we weren't going to do that anyway. >> we didn't need to explicitly tell the russians if they want to amass troops on the ukrainian border they wouldn't face a notional opposition. >> he did invoke nato's article 5 saying we would go to war if a nato country was invaded. he called the allies to step up. >> 1950 a speech was interpreted to suggest -- >> secretary of state atchinson. >> korea did not fall within america's security perimeter. north koreans listened to that speech and decided to invade south korea. truman had to reverse his secretary of state's statement. we did lose 30,000 lives. >> the implication of that is you're saying this is an invitation for putin to do more even though the president explicitly said if putin does more he'll face tougher sanctions. >> i think vladimir putin is not listening to the rhetoric employed here. he is locking for the actions behind the rhetoric. every single step wit

situation with natural gas, for the unit of energy it is 75% cheaper than the energy that comes out of oil. 75% discount. and this is dramatic. so anyone who is dependent on expensive gas that is priced on the same basis as oil is actually spending three times as much as they could do as the u.s. does for a piece of gas and since gas is the fundamental driver for electricity and for petrochemicals it is a very big disadvantage not to have domestic supplies big enough to compete to allow tax to compete with itself to pick up the price of oil. i say that because i don't have how that will work out in the long term but right now it's given a huge advantage of gas that gives the manufacturing and industrial base and advantage that is affecting at the moment. it is being disadvantaged by the cost of its energy. opec is one of those things everybody has written about are often than i can remember. every wishful thinking says we would like it to go away, and indeed one of the founding members is about to decouple. mexico is about to decouple its industry from the state control. i think the ma

the whole continent and we've got to help lessen the dependance on russian gas. >> john, you look at unemployment in the unitedtes, the state that has more jobs than it knows what to do with is dakotas, because they have all the natural gas there. >> i hate to do this but i'm going to have to be the rick unger of this segment. >> rick unger is the rick unger hat there's such a thing as an oil or gas weapon is a myth. the notion that russia can keep its oil and gas from reaching other countries in europe defies basic economics. the only closed economy is the world economy. if russia 'em bar goes every single european state they'll still consume russian oil and gas but they'll buy it from the russians who don't 'em bar go. this will not push putin out of power. >> with respect, i listened to the europeans, the length wayne yans. we got to leave it at that. >>> we talked about how russia is trampling its neighbors so why is it planning to give it and china more control over the internet? is free speech online on the line? ♪ ♪ [ female announcer ] you're the boss of your life. in charge of long weekends and longer

gas resources into the world market. especially those nations beholden to a supplier. the united states, with your normal natural gas resources, has the kind of liquid market that europe is trying to build right now. what is the potential in europe? there are currently 22 operating facilities with combined capacities of 6.7 dollar trillion and another additional capacity of over one million cubic feet per year under construction. import fell actual by almost half between 2010 and last year. because these prices are generally connected to the global price of oil, current prices are tied to natural gas elsewhere on the continent. as a consequence, terminals across europe are functioning minimal technical capacities. however, america's entry into the global natural gas market has changed the situation completely. last week vice president biden visited lithuania and during his visit the vice president said that we have learned the hard way that protecting the sovereignty of nations depends on having more than one supplier of energy. vice president biden expressed support for our effo

allow these sorts of things to happen. >> sure. >> so you need to approve the liquid natural gas in the united you have to set up the pipeline infrastructure europe. it exists but has to be adapted to this. the point is someone has to lead and allow the markets to go forward and start this process. once those market forces are in play, then i think all of these country that say matt was describing can think about signing contracts that are alternative to the russians over maybe the next four or five years. >> kim, we had one approve -- the energy department approve one export terminal this week in oregon but there are still 24 more applications to go. but how is this whole russian crisis, ukraine, changing the politics of american energy and american exsports of gas and oil? >> well, what you see here, paul, there are a lot of interestingly democrats who are running to natural gas as a sort of political safe harbor. they're under fire for obamacare, they want to look like they're pro energy an pro jobs, so you have the sight of guys like colorado senator mark udall or virginia senator mark war

it is buying a huge amount of natural gas and maybe that natural gas could come from the united states, but what does that have to do with the ukraine. whether we export natural gas, how much we drill, is an interesting issue. that's why i'll be here tomorrow. and to think that if only we developed more natural gas in the united states our private companies would choose to sell to the ukraine for much less than japan will pay for it seems unlikely. the ukraine buys virtually all of its natural gas without it having to be liquified and regassy filed. japan being an island have to have its natural gas liquified and then turned back into a gassy state at great cost. so i don't see a reason for this resolution to focus on a red button hot partisan environmentalist versus economic development energy issue. and for that reason would oppose the amendment. i yield to the chairman. >> i take the gentleman's point. but if we think through another alternative, what if we were to use the permitting process on lng as basically a strategic asset for foreign policy. and what if we were to just for sa

president obama has noted, even though we are enjoying a surge in natural gas in the united states andn the path to being energy independent, the reality is we do not have the capacity to refine it and export it. sense, europete could not turn to the u.s. to provide the gas that might be denied were they to put sanctions on in the ukraine. i think negotiators will stay focused on the task at hand, which they should do and keep whittling away, agreeing where .e can political issues are always resolved at the end. this is very much worth doing. this would be the most dynamic trade pact in the world between the world's two largest economy. it could spur economic growth on both sides of the atlantic and help stabilize the world looking for economic prosperity. us lived kirk joining from brussels. always a pleasure to have you on the broadcast. thank you for your time. up next, the latest check of the markets, including chiquita joining forces with an irish company. later, we will go to san francisco with the cutting-edge looks of the design conference. the shape of things to come when we r

normally under the current gas law, the united states is only allowed to sell or to export their gas to free trade partners, which, of course, the eu isn't yet. but there might be some relaxation on those restrictions. sceu wants to diversify itself away, of course, from russia. with that, ross, back to you. >> annette, thanks for that. >>> joining me now in the studio, david cohen. ceo of asset management. david, good to see you. where might this go-between russia and the west of ukraine? >> to answer that question, you have to think about the big picture. the big picture from my work on the book was all about the decline of the west, the inability of america to fund its defense mechanisms, to basically withdraw from the world and create a vacuum. now, russia itself is not expansive. it's dem graph i li demographic challenged. putin thinks along the lines of very anti-western and wishes to reassert influence. the dollar strategy has been particularly weak. he's failed to completely understand the way someone else thinks and he has his perspective. the power vacuum in syria and now t

gas. the good news here is that europe, unlike the united states had a mild winter. they have a ton of inventory, more than 20% they do by this point. so natural gas in the short term could see a spike but europe should be okay and as you know here in the united states, we have a lot of natural gas we're producing that we might end up exporting to europe at one point if russia continues to escalate this situation in ukraine. >> so andres, you heard our report from steve leastman, what if something like that happens, what advice do you give investors? >> this could get worse before better. very fluid situation. i can't really predict what the next 24, 48 hours will give you. at the end of the day if you think about the next two or three years, this really shouldn't change the picture, right? something mentioned earlier that i think is key. the pressure on russia could come from the markets. just to put this into prospe perspecti perspective, it was mentioned russia equities are down 10%. that is more money that russia spent in the oclympicsolympics,? this will put pres

gas. >> the united states set a path to very strong economic restrictions on the soviet union. the house will follow, and the world monetary fund gave ukraine $14.5 billion. nats a pretty good chunk of money, and my guess is that weapons are going in. >> all we can do is what we know. they say they're not. >> they said that about afghanistan when the russians were there. >> dana, where do you come down on this? i'm not kidding here. i would prefer that president obama focus on march madness, help the first lady plan her next junket. the last thing i want is for him to draw a line that he's not committed to cross, stumbling into another war with the russians. that's my take. watch "house of cards" suck your thumb, i don't care what you do. hard men in capital cities have taken notice. this is too dangerous and he should stay out. >> i disagree. the president should stop the selfies, stop the pop culture and all the "between two ferns" and all that and focus. i have two things to say since i was allowing you to have your argument. first of all, i think in a leadership position, y

how many people are aware the united states will pass russiana as the largest producer of gas and oil combi combined. what a stunning change for the country. the united states is on track to produce nearly 10 million barrels of oil a day by 2016 equal to saudi arabia. the story, however, doesn't end at our borders. north america can, and in my view should be, a global hub. as a consequence to mr. putin's behavior in the crimea, we will solve in security, trade imbalance, and a devastating national debt, all of which erode our strength and global leadership. but we cannot seize the opportunity if we continue to say no to the infrastructure requirements necessarily to use the resources. i would like to pose what i regard to be a fundamental question: why would we spend billions and put people at risk to ensure energy thousands of miles away but prevent it in our own backyard? i respect and appreciate the fact climate change issues weigh heavily on minds of people. we should not have a discussion about energy without discussion climate impact. at later date, i would look forward to testi

about exporting natural gas that could be used to move cover vehicles from oil to natural gas here in the united states. most of the people on this exp committee said we should start exporting natural gas also. and women over to the middle east so we can protect imports. we don't have self-sufficiency and natural gas in united states. we import it. we don't have self-sufficiency and oil. we imported so this is a national security issue. it's an economic issue, it's a any fixturing issue. it's a climate issue. now i heard the senator from tennessee say earlier that talking to mr. brune there is a bill he supported that was utterly ridiculous. i assume he is talking about the waxman-markey bill. i didn't take it personal but i like the company i'm with. we have the edison electric institute endorse it, the nuclear industry dow chemical dupont united auto workers united steelworkers dow corning applied materials utility workers all the way down the line. we had the industry on our side. the chamber of commerce wasn't with us, no question about it. i like who we have. i don't think the edison electr

the economist went on to discuss the benefits of liquefied natural gas exports from the united states. it said that natural gas exports -- quote -- "could generate tankerloads of cash, tankerloads of cash for america." however, the economist also pointed out that the process for obtaining the permits, the permits needed to export that american natural gas, they say, is -- quote -- "insanely slow." now, this isn't an exaggeration mr. president. over the past three and a half years the department of energy has used its discretion to approve only six applications to export natural gas. meanwhile the department of energy is sitting on 24 other applications. 14 of those have been pending more than a year and two of them have been pending more than two years. to put this in context the united states has approved only two-thirds of the amount of liquefied natural gas exports that canada has. last year i introduced a piece of legislation, s. 192, the expedited l.n.g. for mearn allies act. a bipartisan bill, supporters on both sides of the aisle, cospores -- cosponsors on both sides of the ais

european leaders will reportedly press president obama for nor natural gas exports from the united statesthey can reduce their dependence on russian energy and punish moscow for invading crimea. michelle kosinski is live in russia. michelle, a lot of developments out of the norm overnight. >> reporter: yeah, definitely, some u.s. lawmakers have been pushing for more gas exports from the u.s., trying to reduce that dependence on russia. of course, the ukraine issue will dominate today as well. the white house has said when president obama today gives a speech to the belgium people which he hasn't done before, lots of eyes will be on that speech. they don't really want to focus down the ukraine crisis, but everyone the president goes those questions are what follows. especially yesterday, he was really pressed on the u.s. response. should it have been stronger? what about all the criticism? what do we do next? where is this going from here? are sanctions working? what if they don't work? does russia really seem to care about any sanctions? we've heard those questions over and over again. pr

the low price of natural gas in the united states from fracking is leading to a job creating manufacturingansion especially for those industries like steel, fertilizer, chemicals that rely on natural gas to feedstock -- that completely offsets the labor differentiation between us and china. we are moving the jobs back because of the cheaper natural gas. with our cold winter, we had a spike in cost but it was still half of the world price. host: we welcome our listers on c-span radio. this program is carried live on xm coast-to-coast and streamed on the web at www.c-span.org. is congressman lee terry from nebraska, a member of the house energy and commerce committee and your committee will have a lot of questions for gm officials about the ignition problem. guest: we are looking for what really happened. it's not just gm but we want to that is in charge of investigating any defects in automobiles leading to injuries and deaths. it looks to me that there is a bubbly failures on both parts. we have to really dive in and find out why these were allowed to be ignored by both gm and nts a. host:

gas. so if the european and united states step in, essentially subs diesing russian natural gas. kraine at a price far in excess of what we pay in the united states and well above any economic costs. pure gravy, russia exported to ukraine. >> general, little rock, arkansas, always a pressure. we thank you. we'll be right back. afghanistan, in 2009. orbiting the moon in 1971. [ male announcer ] once it's earned, usaa auto insurance is often handed down from generation to generation. because it offers a superior level of protection. and because usaa's commitment to serve current and former military members and their families is without equal. begin your legacy. get an auto insurance quote. usaa. we know what it means to serve. [ mthat if you wear a partial,w you're almost twice as likely to lose your supporting teeth? try poligrip for partials. poligrip helps minimize stress which may damage supporting teeth by stabilizing your partial. care for your partial. help protect your natural teeth. >>> russia approved using military force in ukraine. they say the move was necessary to prot

we have abundance gas in the united states but the obama administration has failed to approve over 20 applications to export lng. in my view the administration should immediately proof all of those applications, allow lng to be exported, and help ukraine accept that lng and, neil, that would do three things. one, help free ukraine from economic blackmail from russia. two it would strike putin where it really hurts, which is in the wallet. he has effectively petro tyrant relying on the energy to fund his military aggression. three, it would generate jobs and economic growth here at home. it's a win-win, but unfortunately the obama administration, at least to date, has still blocked them. >> i talked to transcanada's ceo on fox business report, and one thing at the told me, we're putting ourselves on the receiving end of these putin taunts because we're not finishing that pipeline. this is from the transcanada guy that runs key stone. >> energy security is extremely important geopolitical matter and certainly keystone was a corner stone of trying to build that here in north america. >>

gas. is there something that really pushes the united states to export more natural gas as a result of this>> absolutely. for so long, u.s. policy toward gas and oil has been seen through a prism or template of our dependence. look over the last couple year, our energy reality has been fundamentally reformed. what we should think about now is energy literally and as a resource, strategic instrument or tool. we ought to be opening up lech lech -- liquefied exports. and the transfer of technology. a country look ukrai like ukrai develop shale. rush yeas sia is no longer a gr power. they have a little military reach. they have oil and gas. the u.s. could dilute comparative advantage if we would change our export policy. i would think this is something the white house and republicans in congress haute to ought to a. >> obviously put pressure on all of them to get together. what's best case scenario here? what's worst case scenario? how do you think it actually ends? >> best case would be the russians walk it back. this would take some kind of negotiation where they would get a role in the futur

develop their own natural gas resources including shale gas. >> reporter: but it could take years, a time line that has access rated calls year in the unitedtates to loosen restrictions on u.s. exports of natural gas. >> reporter: currently 24 applications are under government review that would allow u.s. energy producers to export natural gas to countries to which the u.s. does not have a free trade agreement. but producers would be free to sell to the highest bidder, and that may not be europe. uncertain? >> it is good to consumers? it may lead to higher prices. but natural gas exports overall i think is a good thing. >> reporter: and some say it would send an important signal to moscow. >> it would begin to put pressure on the russians to not use gas in quite the same way they have been. >> keep in mind that roughly 70% of russia's exports are in the energy sector. if moscow does taufrn the taps to ukraine it would cause russia a good deal of economic pain on its own. >>> and you just heard, western leaders are strategizing to loosen russia's energy strangle hold on europe, but the u.s. and its allies need to be prepared for a boom rang

and if we were to go in there with a huge program, it would end in the united states the problem where we're flaring gas because we have a surplus, we're capping wells. we could create tens of thousands of jobs here in the united states and make ukraine and eastern europe less dependent on putin's power. but most importantly, it would give putin the -- to put into the calculus here, what will happen eventually to the stock market, to the futures market on gas, to gas prom and their monopoly over europe. and lastly, what will happen to his power, his ability to finance his military? that's the way to get him to the table. >> mr. chairman, jay carney was asked about this at the white house press briefing on thursday and friday and said the administration is all for that, but the infrastructure is not in place to deliver liquid natural gas to europe at this point in time, it's still next year before we can do that. >> hold on, hold on. the futures market reacts instantaneously. if we were to announce a rollout which they're not going to do because their focus in the administration is on this climate argume

gas. top importers are in europe. the united, also as you say, in order to have liquid natural gas, we have to use ships and transport it. there is another issue besides time. that is should the united states be exporting something so important. there are people who really think exporting the stuff is a bad idea. is he wrong? >> there are some who certainly feel that way. i would submit to you that we live in a free market economy. ewe are the leaders in terms of international trade. when we lead people tend to follow. if we remain isolated and protectionist the rest of the world tends to do that, as well. i think we are very well served by producing it, keeping the costs low, exporting for purposes of global stability because i think that is what we are getting out here. exporting lng as a means of promoting global stability which is exactly what would happen with respect to western europe. >> what about china? when you look at countries that buy from russia china is right up there. it is europe and china. is china going to say

course so seriously cheaper than that on asian markets and if united states will really begin an expert of elegy it will see the increase in the gas prices inside united states it'll be the end of economical polish so for mr obama because mr obama speaking about her telling off of factories from asia to the united states and the main argument is she guessed because cheap gas means she put it through city eve there will be no cheap gas if there will be no cheap put it through cities but there will be no economic growth inside united states so that is why i absolutely sure that now we can hear a lot of political in which you waited to slogans serious elegy expert from united states but the main aim for united states in my opinion is not to struggle with the rush of the main aim is to keep cheaper gas and cheap electricity inside you not to say so that is why united states will not be the super six point zero for elegy us speaking about next decade i tape it what it was what it made energy bills to europe that i said. you know if the united states will begin the next with a full in g. and these gas will be not for europe it will be a

states, we have abundance of resources as far as natural gas which most people have not even, the most significant thing about the united gas production is that it has been up 21% since 2008. at that point in time we have stopped really focusing on finding natural gas. we only have 345 rigs drilling right now specifically for natural gas and over 1400 for oil. what that is demonstrating to a lost industries, giving them confidence to start to contemplate using lng as a fuel source, alternative to motor oil. or motor fuel as far as diesel. and so to give you some examples, 60% of the waste hauling fleet, trash haulers, new fleet this past year, 60% of them are new vehicles was basically, 50% were cng. liz: let's get -- >> so the trends are -- liz: sorry to interrupt. we're tight on time. people are fascinated how you managed to nail it with facebook. let's get to the next favorite book, the sort of next facebooks in your fund. what are you loving right now? you can rattle up some names here. >> chart industries is a huge benry of the huge trend of lng. primarily one of only two providers of a key component in the liquefa

dangerous decision for united states to become the real exporter of ellen g. . because the situation is very simple not gas prices in the united states from head to fab they extreme achieve them much cheaper than europe and of course so seriously cheaper than it on asian markets and if united states will really begin an expert of elegy it will see the increase in the gas prices inside united states it will be the end all for economical polisario for mr obama because mr obama speak of the volatile enough pull of factories from asia to united states and the main argument is cheap gas because cheap gas means she put it through city even there will be no cheap gas if there will be no cheap put it through cities but there will be no economic growth inside united states so that is why i absolutely assure that the now we can hear a lot of political in which you waited to slogans serious elegy exit from united states but the main aim for united states in my opinion is not to struggle with the rush of the main aim is to keep cheap gas and cheap electricity inside you not to say so that is why united states will not

gas. here in the united states we use a lot of natural gas but it's domestically produced. europe saw about a 10% spike in natural gas prices. about 40% of the natural gas schooled in europe comes from russia and goes through appliance that go through the ukraine. europe has been trying to diversify the source of gas supply for quite some time but hasn't been able to do it. russia controls the amount of natural gas that goes into europe. germany has a lot of factories. natural gas is not just for heating, it generates electricity which these factories use. if there was a sustained increase in the price of gas or if russia were to shut down the natural gas flow you would see the real problem in europe which is why europe may not be as keen to impose sanctions on russia as america is. >> worries of retaliation there. ali velshi host of "real money," thanks for being with us. >> okay joie. >> anxiety hit ordinary ukrainians and hard. the local currency is losing value, no bread, no eggs, only expensive imported italian spaghetti left. "america tonight" correspondent sheila mac

it is beneficial to the united states to sell natural gas abroad. it will create jobs in the united states, it will create an income, it will make us energy -- we've heard this phrase since we were children, energy independent, by using natural gas but also by selling it to our allies and our friends and the only thing as i mentioned stopping it is the bureaucratic red tape. it's ironic, we talked about the year 1938, in 1938, congress passed a law that requires that any country that wanted to export -- any company that wanted to export natural gas had to get a permit, that's in addition to other permits required by ferc. over the last 70 years this requirement that began in 1938, ironically, was hardly noticed anywhere in the united states because we were importing natural gas into the united states. now, the united states can become the saudi arabia of natural gas. by exporting. and so technology has changed and we have an abundant amount of natural gas here in our own country. we can update the 1938 law, dismantle the bureaucratic roadblocks and t