harold hamm is the chairman and ceo of continental resources. >> good to be here. thanks. >> let's talk about what's happening. continental was one of the first to say we're cutting back on what we're doing next year in terms of capital expenditures. you've seen this before. you've been through oil declines and oil advances. what do you think is actually happening this time around? >> well you know this thing has gone on 40 years with opec. you know that's just the way the game's played. they try to wipe out u.s. production and sometimes they're successful. this time we hope they're not. everybody in this type of an environment, all you can do is conserve cash cut back wait for prices to come back. but it will adjust. production levels adjust. and so will prices. it's a matter of time until that happens. >> you said you've seen this before and you think this is opec trying to crush the u.s. drillers. part of this is opec is a lot less powerful and they're fighting amongst themselves. saudi arabia doesn't want to say we'll cut production and allow

i know harold hamm did need to raise some money. to me, that's another toll road. but i'm sure there are people that say listen taking on some commodity risk for some of these deals. >> well, you're not taking very much commodity risk, per se, but you are taking volume risk on some of these plays. so indirectly if you have a draconian drop in the amount of production in a particular basin in the long run, you would suffer less throughput. now, what attracted us to this particular asset was, number one, we were not in the bakken this gives us a tremendous platform not only to serve the present customers but to deal with a lot of other producers up there where we have great relationships in other producing areas. we think we can expand the footprint dramatically over the next 3 to 5 years. secondly, the hh pipeline is starting up the double-h pipeline. that's one of the most economic ways to get crude out of the bakken. we're just starting it now, and i'm happy to say that based on our nominations, we're going to be basically full the first month. we plan to expand t

. >> whatever you think about the divorce, whatever, but harold hamm is not winning any friends. how many ceos privately are going to slam this guy? not the divorce. forget that. the fact that he came out and said that my success was all luck and that is -- so she doesn't deserve money because it was luck. there's no skill involved in becoming successful. all these other rich successful people are, like damn you, hamm. >>> the final oil trooidz trades are crossing for the month. the number to watch $48.24. oil above that now. $49.74. we've had crazy last few minutes. sometimes on friday. some of the computers. we finish here it will be the first monthly gain for oil since june. do not go away. the oil close coming up after this quick break. >>> hi everyone. i'm sue herrera, and here's your cnbc news update at this hour. the white house says president obama will not let the department of homeland security shut down and will sign a short-term bill to fund that department if offered. that funding is at risk over a congressional showdown over the president's immigration actions. this

. >> and you mentioned harold hamm. his company is one that slashed capital expenditures.s. they're slowing down on growth. how much does that slow us down on this energy revolution? >> i don't think in terms of capital expenditures yes. because harold's seen it all, he's lived through the '70s and '80s so he knows how to survive the thing. the key thing is the energy is there. ifs cheap. and you're going to see trucks using natural gas and things like that. so look beyond the immediate horizon. and say what does this mean for the next generation. it's huge. u.s. is now cheap energy. who would have thought it? >> it's funny because i always have the tease the show, 2:00. >> i thought it starts earlier. >> it does. "power lunch" is on at 2:00. but i'm on at 2:00. it's my cheap plug. it's my pay for coming here. >> you are cheap. >> i should demand more. is lower natural gas costs. we're seeing this port disruption. and we're seeing currency volatility. if i was a manufacturer, i might look at all these things and think it might be a little more expensive, but why don't we b