last year, iea policy projected the u.s. power sector will require 2.1 trillion usd between 2014 and 235 end in addition to investing in steel there needs to be greater coordination between the gas price system and the high and extra high voltage power to the efficiencies. this work has started. there again is the need to cooperate cooperation to better coordinate operations as well as market planning rules. and cost recovery also required and deliver reliable service to consumers. and managing liability, requiring access to balancing and flexibilities sources over wider geographic areas that mean more interconnections and despite the advantages by investments in small grid's like demand response with renewable and resilience, the market test has been slow, the market framework and regulations should encourage private sector investments in advanced technologies and practices. we expect 600 gigawatts of new generation capacity will be needed before 2040, and regulation also has a role and the federal government should conside

>> yeah but the iea is behind everybody else. this is what we all have expected. we have been talking about the rate counts coming down. when i look at the commodities market let's take oil in particular. we could get a bounce here but it doesn't take long to put the riggs back online. you can get the riggs back online in a month. we might have a bounce here. even if we bounce to 60 or $65 that could be quite low for oil and you get those turned back on. >> it even takes longer for that to be a positive effect for oil too. even if you take them off line he's worried about them coming online quicker it doesn't matter because the net effect to oil is other than a knee jerk reaction is going to take months. >> when you take a look at the equities and you see the rally do you think it's a short covering rally that we're seeing? >> it's a three day weekend. you do a show in 28 minutes called options action. >> yes i do. >> good show. >> ever use an expression called bad greek? probably not. this is going to be a little trade school. when options dealers have negative t

you have to plan for the year but in short-term bites. >> the iea said non-opec countries were going forward, but then prices would bounce back. at that point, maybe schlumberger is going to rehire. did they say anything on the call about the possibility of later in the year bringing workers back? >> they did not say that and they would not even really give much of a full year of guidance on anything. they can only give a first-quarter guidance roughly what to expect. even that is a little hesitant. it is hard to know whether these workers would come back. i think they are trying to take a cautious approach and not get so up and down up and down quickly. they are trying to take a level steady road here. even as times get better, you want to approach this cautiously. it is different than what they have done in the past cycles where they have reacted quickly both up and down. >> david, thank you for joining us. david wesley joining us from houston. that does it for "in the loop." we are off on monday but back on tuesday with a focus on the motor city -- not me, but betty liu -- an inte

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it is anyone within the opec complex but they have been cut by the iea. these guys want to see it hand-in-hand with them as we try to manage the markets. we can see what is happening here. we are up over 1% as you can see. switching directions. yesterday confused them. some interesting headlines coming out of the iea. >> the swiss national market to raise the cap on the swiss rank. it is surging as much as 41% yesterday. >> let's figure out what is happening here. hans nichols is in zurich. i guess the morning after the night before. >> the morning after there are two questions dominating the conversation. what does this do to the swiss economy? the middle companies have a high labor costs. they still pay in swiss francs. they are exporting. they would get 56% of x ports. the second is bank exposure. we saw the online trading platform. they have had to set aside 25 million provisions. we sell global traders saying they were going to have a hard time and would have to shut their doors. it gets down to the decision i the swiss national bank. it was too diff

talk about the report by the iea?ey convinced prices will go higher? >> that is a good question, gerri,. what the iea is saying they see reduction in the growth of non-opec oil. they're saying non-opec supply will still grow. it will grow a million barrels a day this year but they cut their growth estimate by about 350,000 barrels per day. so the market responded very postively. west texas intermead was up today. brent was up 2.70. that is fairly bullish. but remember we're seeing dramatic increases in production all over world in iraq and here in u.s. gerri: your higher oil prices are my higher gas prices at pump. my interests may not be aligned entirely with yours but i ham interested in the direction and how quickly these prices might go up. when might we see a change? >> you know gerri, if i knew that i would own the fox news building in new york and building i'm in and -- gerri: i don't know if that would buy you the fox news building in new york. >> clearly goldman sachs projected price this is year for $47. sha

in fact, you don't have to ask me, but the iea has predicted that we're going to see consumption remain about 60% with fossil fuels being the source of that, of course. an interesting thing from our point of view would be if we're going to address infrastructure such as roads and bridges, shouldn't we open the conversation to all infrastructure such as pipelines when we talk about the nation's infrastructure and funding that. we think that has to be part of the discussion. >> amy myers jaffe is it a less politically sensitive time because gas averages $2.10. >> i do public speaking to consumers and to groups all around the country, and it's always popular when you're not a politician to talk about the good things we could accomplish just through a gasoline tax even if it's just to reduce the deficit. we do have this opportunity. at least to debate it, and see if rational heads can prevail, and i commend corker and his colleagues for at least getting it on the table. >> well thank you to you three rational heads for joining me today on inside story. debbie sease. karen moreau, and amy my

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the second half of the year much as the iea noted, we see that market tightening up.e slight improvement in demand cyclically in the second half and potentially some softer production in certain places. >> crude contracts will be delivered in the coming weeks. the technical term is contango. a market strategist told my colleagues "the fundamentals of supply, demand, and storage point to the contango persisting." what does this mean for investors? >> there's a bit of a chicken-egg relationship with contango. they are essentially paying to keep those barrels and inventory. the more barrels and inventory the deeper the contango gets. when you get into a market like this, it is a bit of a chicken-egg problem that takes a while to work out. >> are there buying opportunities for oil and gas companies to boost capacity? >> i think in a market like this, there are a couple of benefits to company. i think for certain companies that are in stronger fiscal positions, they could see this as an opportunity. >> how long does this last? i guess this is the question everybody has now

. >> quickly going to bring you flashes firstly out of the iea whose report on the oil market has come out and said how low the market's fall will be is anybody's guess. macroeconomic weakness continues to strain global oil demand growth. prices do not be seeming to stimulate demand just yet. stocks are rising to their widest surplus versus the five year average since august 2010. we'll bring you a discussion on oil in the next 20 minutes or so. one other flash in the last five minutes is the greek government bond yields have risen 40 basis points to 9.5. the three year has risen 137 basis points to 1. -- 11.7. two banks applied for emergency liquidity to the european central bank needing more collateral to sending greek equities lower and greek bond yields higher. back to the stop story. >> let's get you updated on what took place yesterday and how markets are responding today. the euro is recovering after the shock by the swiss bank to remove the three-year-old cap versus the single currency. the dollar also trading higher against the franc while the euro remains at an 11 year low ve

also talking about the iea, oil market report out this morning.ec producers reportedly will cut back on production but overall production will increase. so sort of mixed message supportive of price but was the price recovery expected in oil is not likely imminent. meantime, more lay-offs with big oil companies. schlumberger reporting it's cutting 9,000 jobs in addition to what we've heard from apache bp and halliburton. bp in that second phase of the deepwater horizon oil spill trial verdict likely to pay $13 billion plus in fines getting downgrades on wall street because of that though less than expected. a lot to watch in the oil patch today. do expect more volatility in the pricing but, as i said probably finish higher today as traders are saying they're cautious going into the weekend. >> thank you for that. jackie deangelis. >>> the ceo of intel rival arm holdings whose chip technology powers most of the smartphones has a big presence in wearables market. talk about the future. dow's hanging in there, s&p's back to 1998. watching europe as ra

i think opec secretary general and the iea both saying they expect prices to rebound later on this yearfor every time for something we do every day. street talk. analyst calls with stocks you need to know about. number one, cvs health. goldman bumping to a buy. >> goldman sachs has unmatched leverage to some key health trends. they call it a noncontroversial long. an ease where i way to make a long target. either way, their target is 113. they see about 12% to 14% of up side to the current price. >> stock number two is actually two stocks in one. a two-fer. credit suisse on applied materials and lamb research. bullish on both. >> they are both higher by about 2.5% and 2% respectively. credit suissi starts both with outperform. it goes to 30. 25% upside there. 31% upside, though, seen in the target for lamb research, which is $104 a share. >> stock number three, this is a 30% down side name that you were teasing a moment ago. >> 15% from the previous quarter. revenue should drop. cutting the target to $1.50 from $2. stocks actually up 4% today. watch amd. >> its cornerstone on demand wit

. >> don't forget the iea noted they saw a little upside potential in the price for this year, 2015. that may give, in addition to the short-covering he appropriately mentioned that has been part of it over the last 48 hours. liz: nicole, isn't it training, you're there watching actual plumbing and flows of trading down at the new york stock exchange even knowing that yields on certain financials instruments and stocks are so much better, than the 10-year yield that people are still fearful and going into treasurys because they would rather park their money and know they will get it back with a teeny bit more. in the last hour a guest said go into indian government bonds. they return 5.7% and why not but yet people are fearful to trade stocks. >> you have to know what your risk appetite is. if you want to be safety player you go to treasurys regardless 3%, 2%, 1 1/2%. at least you know your money is safe. things like utilities and telecom, things that pay back dividends. >> absolutely right. >> those are safety plays. whether a market is booming or a bust, people that will want the s

the iea is seeing signs that the oil decline tide will turn but it does caution that prices may have further to fall and a rebound is not yet imminent. china unveiling new support measures as the economy continues to show weakness. the central bank would lend about $8 billion to banks at discounted rates. the goal is to allow the firms to relend the money to small businesses. it's been more than 24 hours since swiss central banks shocked the financial world. it abandoned it's cap on the euro an we're still learning about the fall out. regulators around the world are looking for information about what happened and how some retail brokerages entered insolvency. it says the volatility left it with a negative equity balance and it's trying to sure up it's capital. let's take a look at what's happening with the u.s. equity futures this morning. the dow was down by triple digits yesterday. the dow was indicated down by 42 points. s&p few turs down by 6 and the nasdaq down by over 28 points. of course as we've seen what happens in these early hours is no indication of what would happen by t

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gas price environment will have an impact that will change the trajectory expected by agenciesly the ieae unrecoverables? >> the shail reveal revolution has total recovery of fields that once thought to become close to exhaustion. recovery rates have gone up considerably and they can be as much as 25 to 30% with resources in place. a number of that is roughly double what it was thought to have been two decades ago. on the unconventional side around 5% of the known resources are currently expected to be recoverable. but the technologies are growing at a rate yielding 20% to 30% gains per year. going from 5% to 15% of recoverability. >> i think we have time for one more question. the gentleman in the red sweater there, please. >> it is for david i think, mainly. i guess i'm curious about this notion of coal continuing. and getting to sort of zero emissions with some sort of carbon sequestration technology. is it really likely and what approaches make that cost effective compared to the greatly decreased prices for renewables and other kinds of things sources of electricity. >> i don't thin

gas price environment will have an impact that will change the trajectory expected by agenciesly the iea. >> very good, question from the gentleman in the back. >> i understand that a great many oil fields have become exhausted over time leaving behind about 50% of so called unrecovebles. do you know if the recent developments that got a great deal of publicity will make it possible to revisit these oil fields and recover the unrecoverables? >> the shail reveal revolution has total recovery of fields that once thought to become close to exhaustion. recovery rates have gone up considerably and they can be as much as 25 to 30% with resources in place. a number of that is roughly double what it was thought to have been two decades ago. on the unconventional side around 5% of the known resources are currently expected to be recoverable. but the technologies are growing at a rate yielding 20% to 30% gains per year. going from 5% to 15% of recoverability. >> i think we have time for one more question. the gentleman in the red sweater there, please. >> it is for david i think, mainly. i guess i

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gas price environment will have an impact that will change the trajectory expected by agenciesly the iea. >> very good, question from the gentleman in the back. >> i understand that a great many oil fields have become exhausted over time leaving behind about 50% of so called unrecovebles. do you know if the recent developments that got a great deal of publicity will make it possible to revisit these oil fields and recover the unrecoverables? >> the shail reveal revolution has total recovery of fields that once thought to become close to exhaustion. recovery rates have gone up considerably and they can be as much as 25 to 30% with resources in place. a number of that is roughly double what it was thought to have been two decades ago. on the unconventional side around 5% of the known resources are currently expected to be recoverable. but the technologies are growing at a rate yielding 20% to 30% gains per year. going from 5% to 15% of recoverability. >> i think we have time for one more question. the gentleman in the red sweater there, please. >> it is for david i think, mainly. i guess i

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we are pretty much at the point where even if iea was given total access there would be nothing lefto find. i think this is an area where the congress needs to be very vigilant and active. i have no doubt that senators kirk and menendez and others who have devoted time and attention to this issue, congressman engel, congressman deutsche, i have no doubt that they will try and -- senator corker if he becomes chairman of foreign relations committee -- they are all committed to congress having some ability to review what is agreed. i think they have an enormous role to play in regard to the view and sanctions. unfortunately, that is all the time we have. thank you very much. i appreciate it. thanks very much for having us. [ applause ] and thanks also to rachael and kate and everybody for making this happen. thank you. - >>> with live coverage of the u.s. house on c-span and senate on c-span 2. here we compliment that coverage. on weekends c-span 3 is the home to american history tv with programs that tell our nation's story. the civil war's 150th anniversary visiting battlefields and k

achieved under the agreement is beyond anything we have had and that's already enhanced the ability of the ieaour own people to have a better understanding of what iran is doing and what it's not doing. any agreement that we reach this is something we can go into in a classified setting, would have to have more stringent requirements still in terms of monitoring, in terms of access in terms of transparency. can we significantly increase our ability and the ability of the international community to detect an effort by iran to develop a covert program or to break out from its program? i think we can be in a much stronger place clearly a much stronger place if we're able to get the agreement we want, and clearly in a much better place we would be if there's no agreement or if we were in the world. by the way, i should have mentioned earlier in response to several questions including senator markey, one of the other reasons i don't think countries are going to rush to do what iran did is precisely because of the limitations in terms of tran parent si, inspections monitoring that will be imposed on

achieved under the agreement is beyond anything we have had and that's already enhanced the ability of the iea and our own people to have a better understanding of what iran is doing and what it's not doing. any agreement that we reach, this is something we can go into in a classified setting, would have to have more stringent requirements still in terms of monitoring, in terms of access in terms of transparency. can we significantly increase our ability and the ability of the international community to detect an effort by iran to develop a covert program or to break out from its program? i think we can be in a much stronger place, clearly a much stronger place if we're able to get the agreement we want, and clearly in a much better place we would be if there's no agreement or if we were in the world. by the way, i should have mentioned earlier in response to several questions including senator markey, one of the other reasons i don't think countries are going to rush to do what iran did is precisely because of the limitations in terms of tran -- transparency, inspections monitoring that will

we had noticed that the iea progressively was downgrading their specition for global demand. we figured out that the energy intensity and the oil intensity, the global gdp was falling partly because it was falling significantly in china. and the other part of it was the growth in light sweet crude production which we thought was going to bring about a glut of light sweed sweet cruise in the basin. >> peter tipped us off to your call when he was here on set with us just a few days ago. maybe it was last week. but he told us about your call. i would say that you were probably even surprised by oil falling to $48, right? >> sure. you can really never call a bottom in this market because there's so much momentum that goes into the decline that it's impossible to say when or at what level it's going to bottom out. >> so what do you think happens from here having said how difficult it is to pre-i can tell did those things would you be surprised to see $40 oil? >> no i wouldn't. we're in an environment where we used to think of the market based on the call on opec. we moved from tha

achieved under the agreement is beyond anything we have had and that's already enhanced the ability of the ieand our own people to have a better understanding of what iran is doing and what it's not doing. any agreement that we reach, this is something we can go into in a classified setting, would have to have more stringent requirements still in terms of monitoring, in terms of access in terms of transparency. can we significantly increase our ability and the ability of the international community to detect an effort by iran to develop a covert program or to break out from its program? i think we can be in a much stronger place, clearly a much stronger place if we're able to get the agreement we want, and clearly in a much better place we would be if there's no agreement or if we were in the world. by the way, i should have mentioned earlier in response to several questions including senator markey, one of the other reasons i don't think countries are going to rush to do what iran did is precisely because of the limitations in terms of tran -- transparency, inspections monitoring that will be