sounds like a good iea.apractical matter in terms of funding, i don't know. >> i think idea is to make it specific to the events of the people know what they are getting to >> you're absolutely right. that's what happened in boson. as soon as the bombings occurred, the mayor of boston and the governor of the commonwealth stood up and said that everyone around the nation, this is a horrible terrorist tragedy. we are setting up a special foundation for the next few weeks they were constantly touting the idea. the american citizens and the money is were distributed 60 days later. that is a model program as to how we can do this. melissa: a great name, one fund, they give are coming on the show tonight, ken. i think this is an important issue the dollars should benefit thepeople thank you for coming on. >> thank you coming on. gerri: he is keeping us updated to get your chervil donations to the sandy hook victims. she speaks to a coalition of families. >> thank you for having me. gerri: that meeting was incredib

the iea says we'll have a big supply surge from the u.s. shale boom. >>> right. for the delay there. let's show you where we stand with u.s. futures right now. we are indicating certainly a lot higher this morning. the dow futures very strong indeed, caught up around 167 points. nasdaq at the moment, those futures caught up around 33 points. and the s&p futures at the moment are caught up very strongly as well. up nearly 19 points. follows rallies, of course, in global equities as well overnight, posted bernanke comments. futures are stronger than what we have got in terms of gains in europe. about a percentage gain across the board for european equities at the moment. ftse 100 up, xetra dax up 1.3%, up 8 points for the ftse yesterday at the close. ibex, not so much. cac quarante up a percent as well. as far as bond markets are concerned, yields are lower and treasury 2.58%. this time yesterday trading around 2.66, somewhere around the yield of 2.75 is the two-year high, hit it at the beginning of the week. spanish yields elevated at 4.83%. and we had a big unwin

this was the view of the iea.d gas companies rush to tap underground resources, other firms are looking at alternative investments tied to shale. when you're looking at opportunities in shale, you're not looking at shale exports per se, but you think there will be lots of other spin-off businesses around -- i suppose shale service businesses. is that a way to describe it? >> yes, that's right. there already are. if you look at conventional gas, you don't need any water to extract gas from the rock. if the zbas trgas is trapped in shale, you need a large amount of water. >> where is the water coming from? >> that's part of the problem, coming from a long way away or coming from ground resources that maybe on the verge of depletion. that's a big problem. then you have to put lots of chemicals in the water to make sure that the fracking works effectively. chemicals then need to be treated if the water is disposed of safely. >> this is all so -- so what sort of companies then are you looking at that are managing these

i mean, this iea of rationality, which what it did is it separated one human quality, being rational,m ethics, common sense, intuition, imagination. think about capitalism or a good government. a lot of it is about imagination, business not rational. ethics isn't rational. >> we've got schools filled with brilliant economists using the most advanced arithmetic to come up with an idea of what an economy is going to do, yet, at the same time every time there's a lull in that economy, there's any kind of dee tracks, they talk about animal spirits, we've got to get them back. it is throughout oursociety. an issue, as you correctly point out, what do we do about it all? >> i think we have to break away from, fir of all, frankly, the business schools and the government schools. because that's creating this sort of managerial atmosphere. you replace leadership with managing things. managing things, most of r businesses are run by managers. they're not capitalists. most of our government is r by managers. they're not democrats. it's not to do with right wing, left wing. it's not -- rankly, th

interestingly, this morning, the iea put out its monthly reports and they warned the bulls and said,alarmed about this move up as you look out to 2014. the big move up in non opec production. the shale boom is going to outstrip the demand, they say. natural gas today declining as well. the weekly inventory numbers coming in right in line at 80 billion cubic feet at the outside but that has sent natural gas to the downside. back to you. >> thanks, bertha. and despite the drop in oil, oil and gas prices have been up 5% in the past month. how do you play the rise in energy? joining us is fidel gabe. nice to have you back, fidel. >> nice to see you. how are you? >> i'm looking at my notes and you think it's somewhat inflated, is that the case? >> absolutely. the prices should be close to 100. it does not support it adequately except on the $100. we've seen this movie before and we all know how it ends, but we don't know exactly when. >> so, in other words, you think the premium will be taken out of the oil market, so you would not be going long oil at this point, correct? >> absolutely n

the iea estimating that 40% of trade flows through the suez canal.that 20% of oil that travels through the streets and it puts it into perspective for you. how likely is a shutdown of that canal? not likely. oh, peck's declining forecast supporting the view that global demand is diminishing. and their reserve capacity is in good shape, too. it hasn't been this tight since jan of 2011 which creates there's less interest in brent, more demand for wti. the risk of a suez disruption is slim and there are improved buffers which appear to lirmt the upside for crude. the markets are not always rational and they don't want to be short going into this holiday. >> let's go deeper into the commodities theme here. interesting and opposeding calls. jpmorgan outlining ten ways to get out weight. this caught both of your attention in terms of the jpmorgan call? >> i saw it last night when people were not talking about commodities. first of all, he's a china bear, doesn't believe in the super cycle. he's saying we've weathered seasonal effects that we are through. i

you're in the market cheryl: the all-star panel will weigh in with kelly blue buck -- blue book and the ieaconomist and from edmund stock. the business of automobiles. >> that is coming up next on fox business. ♪ lori: good afternoon, everybody. i am lori rothman. >> height and adam shapiro. want to know how to profit from the auto industry? you are in the right place. lori: we are focusing on the business of autos. >> we are looking under the hood with four of the auto industries top experts. alec gutierrez: jean jennings, george magliano and michelle krebs. they are all here to help you. lori: we want to hear from you. >> we do want to get you up to speed on the market. nicole petallides. nicole: auto stocks are doing well today. here is a look at the dow jones industrials. the nasdaq also a winner. one third of 1%. it is on track for a sixth consecutive game. we have not seen that did november 2012. financials are really leading the way. >> you talked about the automakers. was wall street surprised that we were on pace?

>> senator, in 2011, iea's budget was cut overnight by $15 million, rougherly 15% of the budget, and we had to quickly prioritize a report, analysis, data collection activity we were engaged in, and so we looked at the refining planned out report, done twice a year, and the conclusion was that private services and that have been referredded to earlier here were doing some of that, and that our money could be best spent doing other things that congress has mandated. for example, we've been reporting on iran's production and under the sanctions activities. >> let me save time here. isn't protecting the consumer a priority too? i described misleading information that got out, expensive, misleading information. why isn't protecting the consumer a priority there as well? particularly with something that strikes me as quite, you know, modest. i mean, we've had pretty ferocious debates here over the years about price controls and burdensome requirements and the like. this seems to me a very modest step to make markets that are transparent to help the consumer in realtime. how much would thi

the iea notes this should help meet strong global demand, the strongest since 2010. >> instead of thinking about what you're reading -- doesn't help. >> if you put it in front of him, he will read it. the agency says the outlook should, quo, give oil bulls close for alarm. industry experts say gasoline isn't expected to jump by 10 to 20 cents per gal nlon in the ne few days. in corporate news, chevron says oil and gas production declined last quarter because of area shutdowns and maintenance work in kazakhstan, australia, and nigeria. finally, a report says texas is pumping more oil from opec countries. in march, the state's oil production reached its highest level since 1984. texas oil output doubled from less than three years. that's all, of course -- >> you don't know the -- do you know what the shard is? >> i know exactly what you're talking about. >> not a shard. >> absolutely. this was a huge deal in london. >> you see what they're doing now. >> they're climbing it. >> to protect arctic oil. london is leading the way for drilling in the arctic or something. >> there is a lot -- londo

again, the iea said 45% of new production growth between now and 2035 is supposed to come from iraq.eastern producers could see significant geopolitical threats like libya is another big country we're watching. so, again, given the importance of the middle east to the production story and given the political volatility there, we think there is significant pressure on prices from geopolitics going forward. we're not going to be able to get away from that. >> would you expect them to put even former caps on production and to what degree can they enforce those among their members? >> that's a great question. what you want to watch for is if we saw prices slip significantly below $100 a barrel, because right now in the saudi oil minister says $100, we think if you look at defense spending and social expenditure that is probably what they need to balance budgets. if we get into a situation where we see prices falling significantly north of $100, we think saudi arabia will be under pressure to firm up prices. so that's the environment you want to look for for a potential output cut. >> all