he's been the found and the chf the iea energy business council. he has a whole series of accolades and awards that have been conferred upon him over the years, and again dr. birol, we appreciate the insight that you will provide for us and the good work of your team at the international energy agency. we welcome you and we invite your comments this morning. typically ask those who are testifying before the committee try to limit the comets to five minutes. because you are the sole panel before us, i welcome your extended remarks and then will have an opportunity to query you with regards to other issues. so thank you, and good morning. >> madam chair, ranking member cantwell, distinguished members of the committee. thank you very much for the opportunity to appear before you today and present the international energy agency workers. we wish everybody a happy new year. for the international energy agency, 2017 was a very successful year, a year of growth and continued success. the highlights of our success with your 2017 was that in november, our m

the pressure is on the senate after the house passes a short-term spending bill >>> the iea is forecasting a big increase in non-opec crude production over the course of the next year. it expects the pick up in oil prices to spur higher levels of shale production in the united states but the iea says the recent rally has the potential to rupp out of steam as higher prices

so the iea's coal 2017 is one of the iea's signature publications, and it's previously known as the midterm coal market report. this report provides comprehensive analysis of recent trends and forecasts of 2022. in demand supply and trade, not only at the global level but at the regional level as well. and peter's here to walk us through on some of the key highlights, highlights from its analysis and forecast. and essentially help us better understand what's happening in the coal market and also where the markets are headed to in the future, through 2022. peter fraser rejoined the international energy agency in december 2016 in the current position, the head of gas, coal, and power markets division. and previously, between 1998 and 2004, he was a senior electricity policy adviser with the iea. so this is his second tour. in between, peter worked at the ontario energy board, which is the energy regulator in the canadian providence of ontario. most recently as the vice president for consumer protection and industry performance. from 1989 to '98, he was an energy policy adviser at the ontario

joining us from paris is neil atkinson from the iea. thank you very much for joining us the question i have is about what is going to happen with the opec numbers we've seen them last year try to curb production. we've seen that spur this higher price. that's encouraging shale producers to get back into the market that could depress that price. is the only solution for opec for that greater demand? >> you could argue that opec achieved quite a degree of success throughout 2017. they cut by what they said they would for the group as a whole and prices have indeed risen of course what we're trying to understand is the responsiveness of the u.s. shale producers. because of the dynamism of the industry and the innovation and vast number of players in the space, in some extent we're in unchartered waters in the latest report we are expecting currently, with prices having gone through 50, 55, $60 a barrel for wti, we expect a wave of new production for the u.s., and opec has to accommodate that and make its own judgment in the middle of 2018

the first time we have launched a major iea report. in india as india became an associate member of the energy agency earlier this year. i want to thank csis and particularly jane for the work done in organizing this event. as jane mentioned coal played a big part for a long time. it took until around 1910 for the consumption to reach about 1 billion tons a year. to get from 1 billion tons to 3 billion tons took nearly 90 years to get from 3 billion to 5 billion only took 20 years. we have just come through the far side in coal demand. since around 2012 and 2013 demand was first plateaued. as i'll get into now demand has actually been dropping. the last two years marks the largest two-year drop we have ever seen in coal demand. unlike the previous occasions this occurred during a period of global economic growth. it was also the third consecutive year. it is also worth noting it is driven by outside the power sector. it is also the growth in renewables as i'll get into there a little while. these two large coal-consuming countries have

let me start with you robin and the iea report. potentially explosive growth from u.s. shale.us a sense of where you see this going and 2018. have the risks now mounted for opec? it has racially come out and agreement on a very strong u.s. shale growth. that is obviously a risk when oil prices are around $70 a barrel that u.s. journalists will go back into action. i think the other area of concern is on-demand. if you look at the iea reports, -- yousef: that disparity is nothing short of fascinating because you hear some of the opec officials in the last two weeks and the story they have been pushing is a story that demand will do well in 2018 and beyond. you do not subscribe to that in your research do you? >> i think it because we have had a few months of high prices, if those continue for the next few months or so, that is going to have an effect on demand, even if the world economy generally tends to do quite well. the first half of the year is always a week time for oil demand. that makes it more difficult for opec. i think the market is looking weaker in the first half,

iea report says they are seeing explosive growth in the u.s., but he is taking it with a grain of salthe said. yousef: saudi arabia synergies in a stir travel to davos -- energy minister traveled to davos where he said it would take place when the time is right. that appears to be the first crack in the kingdom's plan. saudi aramco ceo told francine lacqua the decision on where to list the company is still being made. ready toompany, we are be listed in the second half of 2018. the transaction team that will carry that is currently waiting for the decision from the the venues that will be listed, because there is work that needs to be done in preparation for listing on the stock exchange, definitely in saudi arabia, but outside saudi arabia. as a company, we are ready. are hopeful we will be listed by the second half of 2018, but it is all depending on the decision. >> do think the government is nearing an agreement? what kind of things are they looking at to make a decision? >> where we are going to list of -- list saudi aramco is a major contributor to the gdp of saudi arabia. the de

mark: whose analysis do we believe, opec or the iea?ects stronger growth in demand and a weaker recovery and rival supplies than the iea. which side are you on? julian: i think i am somewhere between the two extremes. whichsee the mechanism by higher oil prices starts to undermine some of the strong growth and demand that we have seen to date. if you look at the numbers, it wasand oecd demand, much stronger in the first half of 2017, when prices were low and falling, then it was in the second half, when prices were rising. it is notable that gasoline prices in the u.s. and europe are higher now than they have everyt this time of year year since 2014. we are paying more at the pump that we did this time last year or the year before, or the it before that. that will start to have an impact. i can see some of this economic exuberance being trimmed by higher prices. mark: we do what we can. julian lee, oil strategist for bloomberg first word. vonnie: we are waiting for a white house press briefing any moment. sarah sanders will be joined by

the iea taking the wind out of those sails, seeing explosive u.s. growth. david: time for the morning brief. at 1:00 eastern time, we will see -- hear from randal quarles. at midnight tonight, the u.s. government will shut down unless of the house and senate can, up with a last-minute compromise. now, let's find out what is going on outside the business world. >> time is running out for a partialo avert shutdown of the u.s. government pay the house passed a measure that would keep the government open past tonight while lawmakers debate a long-term spending measure. senate say they have the votes to block the bill. they want to include productions for young undocumented immigrants. according to people familiar with the matter, the fed wants to relax part of the post crisis demand to drastically increase capital levels. the fed is said to be opposed by the fdic, which has authority over banking rules. the european central bank seems to be getting closer to signaling an end to quantitative easing. almost half of those surveyed believe there will be a definite

and energy efficiency contributes to our overall energy security which is the primary focus of the iea. >> huge oil, gas and renewable sources, very important we make the most out of it in a cost-effective manner, secured energy and sustainable manner. it is important, and we see a growing chance of the us making more use of renewable energies as costs are coming down and as madam chair mentioned after tax reform we see support for renewables are still in there. one period we need in my view to pay attention to is efficiency. when we say the us will soon not need to import any oil this is for two reasons, one is a shale oil boom is extremely important and a big sector story of the us government, production will go and the second is in my view the tougher standas in the united states, and other on this at this level. if it were not for efficient standards using more oil at home, and oil or gas, and diverse mix for the united sector, stronger and resilient. >> how do you see how this where we are headed in terms of cost reductions for renewables? >> most of it was -- may not need any mor

in terms of the state of the union, i'm not going to get ahead of the president ieas doctor -- address. it's tomorrow night. i know you're all excited and will eagerly tune in and can see at that time exactly what is going to be included. [inaudible]think -- ms. sanders: we've addressed it every single day. we spend more time on that than any other topic despite the fact that time and time again, poll after poll says that frankly no one cares thabt issue, it's certainly not the thing that keeps people up at night. we'd love to talk about all the things that do and my guess is that will be the foe coufs the president's state of the union tomorrow. reporter: two topics, bag on the state of the union, when the president gives the state of the union address, particularly his first, presidents normally are optimistic. when they say the state of the union is. what's the state of the union today? ms. sanders: i think it's incredible, and i think you'll hear that in the president's words tomorrow night. we've got an economy that's booming. isis son the run. we're remaking the judiciary in a wa

the iea is more bullish. they are predicting 1.1 billion barrels a day. report of the year this money. what people will be looking for is if they upset. there was a hint yesterday that they were preparing to up their estimates for u.s. shale supplied this year. anna: what about opec and how they respond to the march higher in oil surprise -- oil prices? the move has been upwards in recent weeks, and is there any -- what is the latest on whether opec will or will not decide to stick to their production cuts? reporter: you are right. these levels are a the price for opec. -- they didn'tt expected to get to $70 so quickly. in the short term, i think they will continue to do what they are doing. we have heard that from several oil ministers. will poseay here, it problems for opec. let's bring eric into the conversation. here is our test hosted this morning. where are we on oil? -- let's bring in our guest host this morning. where are we on oil? create a floor in oil markets? eric: there are two important considerations. the big picture is the revolution in u.

ass, the outlook on oil prices slide after the iea predicts six was of u.s.xplosive u.s. oil output this year. yulia, back to you. julia: let's get a check on the first word news with mark crumpton. mark? mark: defense secretary chairman

opec costs estimates were coming higher than what we were hearing from some of the analysts, from the iea. they are seeing a lot of challenging oil and shale production and banking on the fact that rising demand is going to accommodate that as well. >> do you sense a shift in tone from the uae as you have taken over as president of opec? >> he's been very even killed when approaching issues. even more so saying that we go ahead with these cuts. we have committed for a year and we will go ahead and keep that. he did seem to indicate we will see a price decline. the land is up now. we might see prices slide back a little bit. of the opec reaction going into the later part of 2018, could we see more tangible moves to try to talk the price down? they want the price because they are fearful of not only the shale response, but i don't know why they keep ignoring it. after all, these are three unconventional resources that have seen the cost structure absolutely plummet. and we have projects with shale that has a short cycle ahead of it. >> g #btv 3464, just edged up .ver so slightly - at what p

if you look at what the iea is saying, they are saying u.s. price of oil is increasing. there is nothing really new. >> what is new is people expect u.s. shale to accelerate much faster than they thought. it to go up to 1.3 million barrels a day. the numbers have become more and more significant. the point is there is every reason to think of this trend will accelerate. francine: what does this tell us about the price of oil? your team is working hard to figure out if it will increase over back down down -- go back down to $50. will: one thing they pointed out on the other side of the is aion in today's report precipitous decline in venezuelan production. a loss something like 300,000 barrels a day last year to less than 2 million barrels. they could even steepen the decline. that is counterbalancing some of the fresh oil they are seeing to the other thing is will opec hold its line? so far, it is being disciplined in sticking to cuts. but we will hear more and more voices that opec should ease its policy stance. tom: thank you, will kennedy.

the iea has now issued nine reports explaining that the iranians have lived up to their end of the bargain moment we‘ll get all the latest on the day‘s football action, and more, in the sports bulletin. but first, a quick look at some of tomorrow‘s front pages. the sunday times reports that the new justice secretary is preparing to intervene to halt the release of the so—called ‘black cab rapist‘, john worboys. the sunday telegraph has an interview with the new conservative party chairman. he tells the paper he wants to galvanise the party‘s digital campaigning. the observer reports claims by nigel farage that pro—europeans could overturn the result of the brexit referendum and that the leave side has ‘stopped fighting.‘ and the sunday express claims economists are warning the eu that failing to reach a brexit deal with britain could cost it 500 billion pounds. the headlines on bbc news: officials from across government are holding talks this weekend to discuss the future of the troubled construction firm carillion. an investigation is under way in hawaii after an alert was mistakenly sent

the iea has now issued nine reports explaining that the iranians have lived up to their end of the bargainnd of the bargain? that is the primary problem. in south africa, the new leader of the ruling anc party has given his first speech since being elected last month. cyril ramaphosa gave a damning assessment of the party, saying it's been beset by infighting and corruption. 0ur africa editor, fergal keane, was at the rally. if you want to know how the wind has changed in south africa, then listen to this. jacob zuma... booing booed by his own party, jacob zuma is increasingly isolated. even supporters acknowledge his days as the country's president are numbered. the crowds have a different hero now, the new anc leader cyril ramaphosa. businessman, skilled negotiator, who's promised to end the capture of the state by a corrupt elite. we are going to confront corruption and state capture in all its forms. the investigation and prosecution of those who are responsible will be given top priority. we are resolute in our commitment to make this the year in which we build our movement and turnar

what we're seeing in terms of iea and risks, 1.8% cuts does not do enough.demand surge to really curb those oecd inventories to the five-year average that opec is targeting. haidi: the point is, wouldn't they just extend or deep in those curbs if prices start to weaken? it is reallyy, but a question of getting the corporation.- the the first member that will want to add supply is russia, they have are reflected that at $70 per barrel it is a risk. that is really the concern we have, that compliance, particularly in the second half, looks shaky, particularly if rises stay in the $60-$70 region. haidi: what about u.s. shell production? at what point does price get so compelling it becomes a headache again? vivek: already at current arels, i would think there strong increases to supply. theaw one of the largest in weekly data, from baker hughes. not only do they sit on a lot of drills and uncompleted wells, the shale story targeting returns, the incentive right now, given that breakevens are probably closer to $40 or $50 per barrel, if in the future they can sa

that is why undergo iea

market the voices in the are going to take a lot from that iea report on friday.re the key takeaways? they understand and have read the report. sayingow what people are about them and what is happening in the market, but he made it clear i am not concerned at all about shale. he sang you need to look at the net picture. offset the need to decline in shale with venezuela, mexico, canada. he says he is not worried about shale at all. the report says they are seeing explosive growth in the u.s., but he says take it with a grain of salt. yousef: thank you for that. let's widen out the conversation and bring in our guest. as you heard the latest updates come at you look at where brent is close to $70 a barrel. where do you see price action going for oil? this makes a difference in your credit ratings? >> it does. we currently have a lower assumption then what the prices for the year. $10 lower. manyll have to see how legs this oil price surge has. what we just heard said the key producers are willing to let it run. for gives good news items export countries, especially

we will be hearing from opec and the iea, and that is expected to drive trading.il andig week for other commodities. thank you so much. we will be live from hong kong with the asian financial foreign throughout the day on bloomberg television. inga bill joins us on bloomberg as we head into another year of brexit talks. don't miss out on our exclusive interview with australia's minister, kelly o'dwyer. a lot of great guests coming up. up next, a look at the week ahead with a nab's rail trail. the bank is seeing the aussie dollar falling back to $.75 range. we will talk about the decline for the u.s. dollar. this is bloomberg. ♪ ♪ are counting on this monday morning to the sydney open. you can see strong opening expected by the sydney future, up about .5%. getting that strong lead in from the record territory that we closed at on friday here in the u.s. bullied by not only better than expected jpmorgan earnings, but also by that slightly hotter than estimated inflation numbers. i'm betty liu in new york. haidi: i'm haidi lun in sydney. you're watching "bloomberg da

demand wereates for coming in higher than what we are hearing from analysts, from some of the iea, butare seeing a lot of challenging shale oil production coming from the u.s. and they are banking on the fact that rising demand will be able to accommodate that shale, as well as the production they are bringing onto the market. yousef: did you sense a shift from the energy minister now that he has taken over as president? >> not really, i think he has always been even killed when approaching the issues -- keeled when approaching the issues, and now even more so, saying that we are going ahead with the cuts, we have committed for a year and we will go ahead and keep that. he did seem to be indicating that we might see a price decline, back from $70 in the third quarter. he said demand is up now because of the winter demand, so we might see them fight back a little bit. yousef: we will cross over to ed, in terms of the opec reaction going into the later part of 2018, could we see more tangible moves to talk to the price down. which would be unusual for them. ed: there is incentive to pric

overtake saudi arabia and russia as the world's leading energy producer by the end of this year the ieaotes this all provided opec and non-opec production restraints remain in place oil prices selling off here. wti crude down by almost a percent. ice brent crude down by 0.9% week to date, wti is down a half percent. looking like we'll add to that today. that would break a four week winning streak for wti and brent if we end the week down. let's look at the price of gold. gold on thursday was down about 0.9% also on pace to break a five-week winning streak it is slightly higher here today at 1335, up by mo$1335, up by m. not enough to break that losing streak for the week. >>> currencies for you, the dollar was flat yesterday. it's soft today. the euro is higher by 0.3. the yen is higher by 0.4%. the pound is higher by 0.1 bank of japan next week, we have an ecb meeting an ecb meeting is coming next week i think we forget, despite the strength out of europe, we forget we did see rather dovish mario draghi after the last meeting just a month or so ago we saw euro weakness off the back of

it provides us with unprecedented insight into the program because of the iea and allows us to freezeam. >> bret: karim, norm, appreciate the time. the president is kicking out 200,000 salvadoran immigrants. immigration plays a big part in talks to avoid a government shutdown. we will talk about all this with the panel when we return. on the only bed that adjusts on both sides to your ideal comfort, your sleep number setting. and snoring? does your bed do that? it's the lowest prices of the season on the queen c4 mattress with adjustable comfort on both sides. now only $1199, save $400. ends soon. visit sleepnumber.com for a store near you. ♪ if you wear a denture, you not only want a clean feeling every day, you want your denture to be stain free. did you know there's a specialty cleanser that's gentle enough for everyday use and cleans better than regular toothpaste? try polident cleanser. it has a four in one cleaning system that kills ten times more odor causing bacteria than regular toothpaste, deep cleans where brushing may miss, helps remove tough stains, and maintains the orig

listen, iea says they haven't violated it. >> the international atomic energy, charged with monitoring sites? >> right. even president trump hasn't said i am saying they're non-compliant. the term is nor violating the spirit of the deal. >> right. >> there are for sure certain reports out there that indicated small violations here and there regarding sanctions violations or sanctions busting, things like that. i wouldn't be surprised about that. >> bobby, one of the things that's easy to take issue with iran is that they're bad actors. there are lots of things they do. human rights abusers and all sorts of things about them, but this deal, a lot of people supported the deal who said it isn't meant to make iran your best friend or neighbor. it's meant to deal with iran's pursuit of nuclear weaponry. >> true, but the administration indicated directly or indirectly at the final stretch of the deal, witness you have this deal, then you create a bath to iran to become a better actor. very least, the monies released from the removal of sanctions would allow iran to improve the lot of its peo

matt: is it something like the eye reports -- the iea reports? the price direction here? want to see real numbers of u.s., how much oil production is rising. there is a dictation that it will reach a -- there is an expectation that it will reach a record in february. analysts think the market is going to develop. at the start of the year, they will pay attention to that forecast and it may be it does have some market sentiment. guy: what does the opec story mean? in many ways opec had a really good year. will: the question is did have two good of a year. -- too good of the year? grouplies outside of the have been very disciplined this year. we will continue with the deal. we will stick to our cups here. they are going to worry about opening the market, enticing too much misapplied into the market and upsetting of the good work that they have done. expect thee will same message, no change. behind doors come i would not be surprised if they manage the exit. matt: well, we can glean a lot of information from the opec stage on the bloomberg. if you t

ass, the outlook on oil prices slide after the iea predicts six was of u.s. oil output -- explosive u.s. oil output this year. yulia, back to you. julia: let's get a check on the first word news with mark crumpton. mark? mark: defense secretary chairman longer terrorism is no the primary focus of u.s. national security. record terry mathis says the u.s. military must strengthen as -- he described the u.s. "eroded." face threats from indigenous powers, nations that do seek to create a world consistent with their authoritarian models, pursuing veto authority over other nations decisions. department defense strategy report released today at oh to these remarks, calling for "increased and sustained investment in the military." coalition talks have been started with angela merkel's brought -- block. party leaders are predicting a tight vote. former caps on president -- n -- puigdemont said new technologies would allow him to govern from belgium. he has been there for nearly three months, avoiding arrest in spain over catalonia's illegal secession attempt. spain's

it's right up there with the one that we had several weeks back when we had the head of the iea here who spoke about the energy trends internationally and he had four upheavals, i won't go through all of them but his fourth upheaval is what is happening with electricity and -- and how -- how that -- that whole sector is being impacted. we got a lot of work to do but this has been a very instructive and helpful hearing to all members, so i thank you for the time and with that we stand adjourned. >>> the state of the union address. live coverage starts at 2:30 p.m. eastern here on cspan 3. this week on the communicators, and speak about the latest developments in artificial intelligence, robotics, 360 degree cameras, enhanced communications for self driving car. watch the communicators tonight on cspan2. >>> the president of the united states. >> tuesday, presumptive will give his first state of the union address to a joint session of congress. our coverage begins at 8:00 p.m. eastern. then the state of the union speech live at 9:00 p.m. it'll be followed by the state of the union addr

the iea says the u.s. could overtake russia and saudi arabia as the world's largest oil producer this year this comes as production in the u.s. has bounced back recently delta saying passengers with support and service animals will now need advance documentation to travel. the firm cites safety concerns and notes an increase in incidents such as biting i thought that was just the passengers >> and coke says it wants to help collect and recycle every bottle and can it sells by the year 2030. it hopes bottles on average will use 50% recycled content by that year, 2030 >> we begin this hour where else in washington. if congress cannot reach a deal to fund the government, we're headed for a shutdown at midnight tonight we have you covered all across washington ameamon javers at the white hou. what is the latest chuck schumer still in there meeting with president trump >> well, here's what we know as of right now we know chuck schumer is in the oval office. i saw him walking into the oval office we asked him if

it is right up there with the one we had several weeks back when we had the head of the iea here. the dr. spoke about the energy trends internationally and he had four upheavals. i will not go through all of them. his fourth upheaval is what is happening with electricity and how that whole sectors being impacted. we have work to do. this is been an instructive and helpful hearing to all members. thank you for the time. we stand adjourned.

the dollar isn't the only factor the saudi energy minister said the iea has failed to put the scale ofn increases into context, meaning the demand picture is more optimistic that's something we have been talking about as asea change element all this year, pretty much the market expectation for strong demand this year is offering price support over $60 a barrel, guys back to you. >> thank you very much >> let's get a check on the marke markets. the dow, you have heard this one before, all-time high. volatile session, though, today. it has been a volatile session did i say that before? it's been a volatile session the dow was up 206 points and it dropped to 7, a 200-point swing. you can do that math right now, the dow is higher by about .4%. or 116 points there. the s&p 500 just a little bit, about two points, and the nasdaq higher by .09% or six points utilities, health care, they are your sector leaders. real estate and energy are the laggards right now caterpillar having a volatile day. now flat on the session despite a big earnings beat. melissa. >> let's get deeper into the caterpil

it is right up there with the one we had several weeks back when we had the head of the iea here. the dr. spoke about the energy trends internationally and he had four upheavals. i will not go through all of them. his fourth upheaval is what is happening with electricity and how that whole sectors being impacted. we have work to do. this is been an instructive and helpful hearing to all members. thank you for the time. we stand adjourned. [inaudible] >> 517 c-span networks on 10:30 a.m., the senate budget committee holds an oversight committee looking at the congressional budget office. the senate takes up the nomination of the next health and human services secretary. the senate transportation committee looks at auto industry innovations. at 12:20 p.m. the us council mayors start their winter meetings in washington. >> next week on tuesday january 30 president trump gives his first state of the union address to a joint session of congress. sessions begin at 8:00 p.m. fall by the state of the union at 9:00 p.m. we will take your calls in here reaction. coverage of the state of the

if we take a global view, the iea and other forecasters, we assume gas will increase the penetration4. gas has a significant role to play in transport. all modern ships are dual fuel and can run on natural gas. also, trucks and cars can run on natural gas. the effort to ban petrol and diesel is a huge opportunity. francine: do you expect, in 10 years, when will this transformation take place, in 10, 15 years? can we say that gas demand will increase by a certain percentage? marco: this year, gas demand has increased about 6%. when it comes to transport, we already have a big penetration. in italy, we have one million cars running on natural gas. the future will be electric, natural gas, and some hybrids. ,n terms of electrifying heating in homes, it will take a long time. francine: are you expecting consolidation in your industry, and do you want to be part of that? marco: we are europe's largest company in our sector. we think there's more value to be created by developing projects. there's not a lot of synergies in our sector. it is hard to justify a premium. francine: are there an

iea data shows inventories have 8-10 days of supply.nd why isn't that keeping prices down? i wonder if you have a view on petrol yuan? think going back to the drawtory levels, as we those inventories down, the ed.ve is backwardat lower inventories lead two a backwardated forward curve. that you seeerry in commodities. that is where we expect returns to be generated from owning commodities. as inventories get tighter the market is more backwardated. why? let's go to my example. i have 10 days of inventory in my tanks at a refinery. the tanker is late, seven-days i the front endp and not the backend because the tanker will get there. where i have 2-days of storage and the tanker's five-days late week'shave to buy this oil which it does nothing to the back. that is the benefit from the low inventory to the investor. tom: appreciate the effort this morning. jeff: thank you. tom: head of commodities research at goldman sachs. carl weinberg, appreciate having you with us. enjoy the food court coffee. in london, it is better than new york. tha

educational and it's right up there with the one we had several weeks back when we had the head of the iea here, dr. burol who spoke about the energy trends internationally and he had four upheavals. i won't go through all of them, but his fourth upheaval is what is happening with electricity and -- and how -- how that whole sector is being impacted. so we've got a lot of work to do, but this has been a very instructive and helpful thing to all members. i thank you for your time and with that, we stand adjourned. >>> the congressional republican retreat is this week at the greenbriar resort in west virginia. today vice president mike pence addresses the group. that's live on c-span at 7:15 p.m. eastern, and tomorrow president trump speak to the congressional republicans and that's at 12:45 eastern on our companion network c-span. >> sunday night on "q & a" author bill james talks about his book "the man from the train" in which he investigates one of the deadliest serial killers in american history. >> many of the crimes happened within a hundred yards of the railroad track and one of the

it's right up there with the one that we had several weeks back when we had the head of the iea here who spoke about the energy trends internationally and he had four upheavals, i won't go through all of them but his fourth upheaval is what is happening with electricity and -- and how -- how that -- that whole sector is being impacted. impacted. we got a lot of work to do but this has been a very instructive and helpful hearing to all members, so i thank you for the time and with that we stand adjourned. >>> c-span's washington journal live every day with news and policy issues that impact you. coming up tuesday morning, a look at the rising cost of housing in u.s. cities. and how it is impacting the middle class. joining us will be the hill's national correspondent reid wilson. also congressman from illinois bill foster will talk about his concerns with the trump administration's science policy. and as part of c-span's 50 capitals story, gorg's eorgia's lieutenant governor will discuss the issues in his state. be sure to watch live tuesday morning and join the discussion. for nearly

it will be according to the iea, the world's biggest exporter of nat-gas.t-gas to power electric utility plants to power electric cars. this is history in the making in the u.s. oil sector. stuart: it really is. that is dramatic stuff. who would have thought? who would have thought. great stuff, liz. liz: sure. stuart: check this out. we can all sympathize with this guy, a passenger aboard a ryanair flight, he was frustrated because he had a to wait a long time to get off the plane. so he opened the emergency exit. he climbed out on the wing. there he is. this is a protest. ashley: i'm outta here, he says. stuart: i'm outta here he says. he was arrested. ♪ my "business" was going nowhere... so i built this kickin' new website with godaddy. building a website in under an hour is easy! 68% of people... ...who have built their website using gocentral, did it in... ...under an hour, and you can too. type in your business or idea. pick your favourite design. personalize it with beautiful images. and...you're done! and now business is booming. harriet, it's a dou

it's right up there with the one that we had several weeks back when we had the head of the iea here who spoke about the energy trends internationally and he had four upheavals, i won't go through all of them but his fourth upheaval is what is happening with electricity and -- and how -- how that -- that whole sector is being impacted. we got a lot of work to do but this has been a very instructive and helpful hearing to all members, so i thank you for the time and with that we stand adjourned. >>> president trump is signing a 30% tariff today on imported solar panels. that is likely to be a topic at today's white house briefing. cspan will have live coverage of that. >>> on tuesday january 30th, president trump will give his first state of the union address to a joint session of congress. our coverage begins at 8:00 p.m. eastern. it'll be followed by the state of the union address itself at 9:00 and following the speech will take your phone calls and also get reaction from members of congress. coverage of the state of the union address live on cspan available at cspan.org also liste

. >> by the end of this year iea. >>> federal regulators >> sec questions for bitcoin etfs bitcoin's liquidity it was not transparent enough for it to be able to regulate it take a look at the bitcoin price that we're seeing today which was hit pretty hard when south korea said it might ban bitcoin. this morning you can see they're up -- the price of bitcoin up across the board futures that are trading on the cboe are just under $12,000. >> ratings announcing that it will begin issuing letter grades attempting to bring financial rigor to the volatile class. joining us for more on all of this is martin weiss i called you weiss good morning to you. >> good morning. >> explain how you would apply the letter gradings. >> well, it's very important for investors to have some sanity and something to ground them. >> right >> what we've done is built a model, computer model, that looks at crypto currencies from many different angles and provides a rational reason, rigorous research that investors need so desperately in this space. >> give us themetrics that you'd be using that would apply to