helima croft, global head of director of the energy program at public citizen at the consumer advocacy group. thank you both for being here today. >> thank you. >> good to be here. >> helima, let's start out with you. is this a good thing or bad thing for the u.s. consumer? >> for u.s. produce it's a great thing, at certain point we're going to have u.s. refineries not being able to take all the crude the u.s. is producing, so it gives an outlet for u.s. producers. so if you're looking at a global market, more oil on the global market means potentially lower prices. so the consumer should benefit, but i think not right away. this is not going to make a difference until we have a recovery in u.s. prices and also u.s. production coming back. >> yeah, we are looking at oil prices at the lowest levels in over 12 years. tyson, what do you think, do you think we live to regt this? >> absolutely. we're not going to see the impacts right away, because both the domestic and the international oil market is saturated with excess oil and storage, butnce that starts to happen later this year, u.s.

. >> helima croft, could talk all hour but we have to let you go. >> thank you. >> have a great weekendas you may have seen or heard the last few days we were live in houston and at the oil conference in miami and we had the opportunity speak with a number of oil ceos. oil producers, refineries, and those in the drilling business. we asked them all about what they expect from the price of oil. here is a quick montage of what they told us. >> we're probably grog to see $30 crude before we see $50 crude. >> we're hearing at this conference that commodity prices are going to go down to in the 20s. >> people will just churn dollars in the 40s and 50s but when you get into the 30s, you really can't even churn the dollars. you really can't afford to even drill anymore. >> the old-timers used to say the cure for low oil prices is low oil prices. >> now, oil people and entrepreneurs are known as some of the most bullish and optimistic business people in the world, so the fact that these oilmen were not saying everything is going to turn higher anytime soon i think speaks texas-sized volumes abo