we have the iea report out in under an hour. that will play into the commodity space. brent at $80 a barrel. a modest move lower but holding on to $80 a barrel. and what transpires in china will be key. very high infection rates particularly in the capital. futures stateside range bound, sitting at these levels until you get clarity from jay powell. 3.47 on the 10-year, a move down two basis points. yields came down sharply on the back of that cpi print. the ecb decision on thursday, alongside the boe. francine: big one at that. a lot will rest on what andrew bailey thinks, or how much they should raise by. this is the picture for sectors. have 19 sectors that make up the s&p 600. all on the downside apart from energy, gaining .1%. the biggest losers. if you look at the ones falling the most, basic resources down .7%, technology and consumer down .8%. let's get to our mliv managing editor, mark cudmore. you are looking at the s&p 500, good morning. mark: the two month relief rally in u.s. stocks is over. that made talking through the argument. i am not a big manafort t

heating calls by the iea talking about energy efficiency for many years now. policymakers are finally waking up to that. alix: guys, thanks a lot. eddie van der walt, todd gillespie. survey shows november inflation excitations declined. one actually fell 7% to 5.2%. three-year expectations fell to 3%. the front end still selling off with about one basis point we have more on the energy crisis with elizabeth martins. senior economist. is that something she has to look at? [video clip] >> these figures confirm this is a challenging situation and it will get worse before it gets better. we have a plan that will more than half inflation over the next year. if we stay the course we can get it back to the strong economic growth that we need. guy: let's get back to our question of the day. can europe weather the storm? can the u.k. weather the storm? is the u.k. heading into a winter of discontent? let's bring elizabeth martins hsbc senior economist to give a take on this. we have the question of the day we just don't have elizabeth martins. we will get her in just a

the iea says there is a 30 bcm gap. i'm sure we can get to a bigger number than that do you have an idea where you stand on that figure >> this year, we talked about 7 bcm. if you take the current run rate, 15 or 20 bcm it is a larger gap that will have to be offset with demand or more lng or combination of other things. >> demand destruction. to put it in perspective for the audience we have no absolutes because there are different size ships one bcm and they all confirmed it would take ten of those ships, 10 to 12, to get to 1 bcm. with the gap of 30 if the iea is right, that is a gap of 70, that is 700 more of the ships they don't exist the import capacity doesn't exist. where does europe get the gas? >> again, in addition to filling the storage this year, one of the key priorities has been to increase the capabilities of importing more gas you are seeing more terminals built. netherlands is a good example. one start up recently. you are seeing more elsewhere in europe we should highlight one of the reasons the gas m

the iea says russian output is expected to plunge 14%.gency sees higher demand from india's growth and china's recovery. france will defend their title against argentina in the final a football world cup after a hard-fought to having zero victory over morocco in qatar. the world champions ended the north african nation as the first team from the continent and in the first arab country to make the semifinals. the french must overcome argentina sunday to become the only country to retain the world cup since brazil in 1962. global news 24 hours a day on air and on bloomberg quick take powered by more than 2700 journalists and anaylsts in over 120 countries. i am vonnie quinn. this is bloomberg. >> japan find itself $44 billion short on funding. a promised expansion in defense spending will look at where prime minister kishida may find the money next. this is bloomberg. ♪ >> japan needs another $44 billion to fund the promised expansion in defense spending according to document seen by bloomberg. politics reporter isabel reynolds joins us for

>>> coming up on the show, eu energy ministers do meet to discuss the proposed gas price cap as the iea could face a pp ahoage next year. we'll discuss more after the break. my name is ashley cortez and i'm the founder of the stay beautiful foundation when i started in 2016 i would go to the post office and literally fill out each person's name on a label and now with shipstation we are shipping 500 beauty boxes a month it takes less than 5 minutes for me to get all of my labels and get beauty in the hands of women who are battling cancer so much quicker shipstation the #1 choice of online sellers go to shipstation.com/tv and get 2 months free >>> welcome to "street signs." i'm arabile gumede >> i'm joumanna bercetche. these are your headlines >> european equities treading water ahead of the economic data head and investors are hoping for a softer inflation set could bring on a better 2023. >>> and sam bankman-fried is extradited to the united states. prosecutors expected to charge the former poster boy of the cryptocurrency industry with wires and securities fraud. >>> binance ceo look

you know what are you doing at the iea wasting your time?are still nationalised. the trade unions hold the whip hand . it's you hold the whip hand. it's you know, it's all going to just get worse and worse and worse. and. harris responded saying, harris responded by saying, cheer , things can only get cheer up, things can only get worse . and actually what he worse. and actually what he meant about that, which is slightly depressing for its only when things get really, really bad that get an inflexion bad that you get an inflexion point people actually point that people actually really way we're doing really think the way we're doing things the moment is not things at the moment is not working at all and i mean, that inflexion point could come in a million different directions. i'm not saying my classical liberal side of the argument can win, but think we're beginning win, but i think we're beginning to sort of to get to that sort of everything in britain doesn't seem anymore the seem to work anymore on the broken ist. broken list. i'm a bro

this is just beyond what the iea has a right to look at. and so, but i think the red line set up by enrichment are not workable. just like some say if they go to 90%, you know, it will do all kinds of things. i doubt it. it's just not a red line and iran can essentially get the same thing by just going to 60 and having 20 and having enough centrifuges to be able to get to weapons grade uranium for 90 within a matter of a few weeks. >> so you -- >> these are not the kind of red lines we would advocate. >> the kind of red lines you would advocate would be about basic capability based on numbers of centrifuges? >> not even that. it would be if they divert material. if they kick out the inspectors. if they withdraw from the npt, or there's evidence they're moving to build nuclear weapons. i mean, those to me are better red lines that can be quantified better. they are all complicated to work with, but this idea that if iran reaches this kind of nuclear enrichment capacity then the red line is there to stop them. i mean, iran has blown through e

you know what are you doing at the iea wasting your time?ompanies are still nationalised. the trade unions hold the whip hand . it's you hold the whip hand. it's you know, it's all going to just get worse and worse and worse. and. harris responded saying, harris responded by saying, cheer , things can only get cheer up, things can only get worse . and actually what he worse. and actually what he meant about that, which is slightly depressing for its only when things get really, really bad that get an inflexion bad that you get an inflexion point people actually point that people actually really way we're doing really think the way we're doing things the moment is not things at the moment is not working at all and i mean, that inflexion point could come in a million different directions. i'm not saying my classical liberal side of the argument can win, but think we're beginning win, but i think we're beginning to sort of to get to that sort of everything in britain doesn't seem anymore the seem to work anymore on the broken ist. broken list.

the iea saying today that russia's invasion of ukraine is turbocharging renewables as countries seeke global energy crisis triggering unprecedented momentum behind clean energy including in the s the paris-based agency raised its u.s. renewables outlook and now sees the industry growing 74% by 2027. and on the heels of the inflation reduction act executives hope to meet this newfound demand with domestic manufacturing. in the four months since the i.r.a. passed a host of companies have announced now or expanded domestic facilities that includes names like new solar, piedmont, friar and general motors more are expected once we have additional clarity from treasury and the irs on implementation. the top line spending figure is $374 billion for clean energy. but credit suisse is among those who believe it will ultimately be higher to the tune of 800 billion thanks to the uncapped nature of the credits. add in the fact that federal support typically spurs private interest, and they said spending could hit, kelly, $1.7 trillion over the next ten years. >> yeah, huge numbers. everybody's d

the iea is not in that. they can begin to divert this material away. we may not know necessarily where it is. they are not a nuclear weapon state yet, but they are building the wherewithal amidst them at some point to move to it relatively quickly. so on one hand we have no diplomacy that offers any pathway, but the program is not frozen, it is advancing. for me, it suggests that we need a strategy of terms. by that i mean, the iranians feel today that they can do what they are doing. they think ultimately it will build pressure on us to be more responsive to them. we need to demonstrate to them that the path to iran is ultimately going to be closer to them. for me, i give you a series of states you can take to do that. i think we have to focus on reestablishing the terms. if you want to avoid having this and if it some point you want [indiscernible] but even that has to be factored in. we are not in a position where we can offer a field regime to position itself. the time we are seeing is unprecedented. if you go over the past five years, i will wrap

back injuly, the iea, the international energy agency, warned that china has an 80% share of the solarufacturing industry. china also dominates wind turbine manufacturing. so how does the world stop itself becoming overreliant on china for renewables? just in the same way that we've seen with russia and fossil fuels. let's say that we are altogether overreliant in china from many, many things, notjust renewables. we made an implicit pact with asia. i would say in large that is the following. we retain the right to buy what we want, when we want in the quantity we want at the price that is the cheapest possible. and somebody else should take care of investing in the factories and making this possible. and i think this implicit pact was a great pact looking at backwards, but also it went a little bit too far. now we discovered maybe it's a little bit pathological that we don't have a little bit more balanced supply, for example, pv panels. it is not rocket science. so we invest now in a factory. we have a 200 megawatt year production factory since 12 years now we have developed a new tec

guy: minister, we were speaking alongside the iea chief earlier.were talking about the fact that 2022 is going to be difficult, but 2023 is going to be more difficult. the reason is we are going to struggle to fill the storage without russian gas. is this year going to be difficult? is next you're going to be significantly harder, do you think -- year going to be significantly harder, do you think? tinne: the worry in ukraine, nothing is going to be easy anymore. not this winter or after. if we look at the winter that is now beginning, i saw the pictures of the snow already in berlin and brussels, we had a little bit of snow already. we manage the winter because we have prepared. we have filled storages, decreased demand. there is another winter coming, preparation of the next winter is also being done now. for example, joint purchasing of gas is something that will be discussed tomorrow at the energy council. it will be difficult if we are not taking things into our hands. what is for sure is that we have proven we can take policy decisions with r

well, this guy, mark littlewood, the director of the iea , had a sort of funny analogy iea, had a sort about this. he said, you have the recipe making the most the recipe for making the most perfect delicious and perfect and delicious pizza. and the growth the pizza here is high growth economic . but if the chef is economic. but if the chef is hubristic or crazy or incompetent, you're not going end up with a particularly tasty pizza. that mean shouldn't pizza. does that mean shouldn't eat it just eat pizza again? no, it just means shouldn't pizza cooked means shouldn't eat pizza cooked by when you're by that chef. you when you're he's committed, you regret an analogy halfway through. yeah, he's i mean, he's got a good point i mean, he's got a good point i mean, he's there's nothing he's saying there's nothing wrong of wrong with these kind of principles, but they just didn't apply yeah okay. apply them very well. yeah okay. and now and and they're the times now and justin got locks his justin welby got locks on his doors in a big wall his doors in a big wall in his house. but that this

. >> the fed's policy decision is this evening and the iea forecasts that oil demand will lack production during the first quarter but the full impact remains to be felt while beijing's reopening will also be felt. >> this year's china's oil demand has fallen 4 million barrels a day. depending on the opening, that will have a major impact on the mar markets. >>> we focus our attention on the european market which is red across the board markets are taking in that u.s. inflation number which did come in softer than expected, 7.1% figure certainly helping the market, perhaps moving closer toward that pivot particularly for the fed who may be looking at lower interest rate hikes moving from here and where exactly does it shift to heading off into next year of course, we do have the fomc neating closing out and that will clearly give a sense of where exactly the fed decides to do with the basis points a 50-point basis hike expected today. you're saying weakness across the european board they had rallied initially particularly yesterday after that u.s. cpi print showed the consumer prices rose

well, this guy, mark littlewood, the director of the iea , had a sort of funny analogy iea, had a sort about this. he said, you have the recipe making the most the recipe for making the most perfect delicious and perfect and delicious pizza. and the growth the pizza here is high growth economic . but if the chef is economic. but if the chef is hubristic or crazy or incompetent, you're not going end up with a particularly tasty pizza. that mean shouldn't pizza. does that mean shouldn't eat it just eat pizza again? no, it just means shouldn't pizza cooked means shouldn't eat pizza cooked by when you're by that chef. you when you're he's committed, you regret an analogy halfway through. yeah, he's i mean, he's got a good point i mean, he's got a good point i mean, he's there's nothing he's saying there's nothing wrong of wrong with these kind of principles, but they just didn't apply yeah okay. apply them very well. yeah okay. and now and and they're the times now and justin got locks his justin welby got locks on his doors in a big wall his doors in a big wall in his house. but that this

. >> this is the age of coal consumption in the iea will set an all-time record globally. i take your point the political has moved from legislation to executive fiat. in emergency power but the congress passed the inflation reduction oxo called and i like to ask you, what do you think is going to happen because there's a guy named john podesta who's in charge of doling out the money. the word corruption comes to my mind and it' wonder whether you think the corruption that's going to follow is a good thing or a bad thing. >> corruption generally is that the inflation reduction act was bipartisan vote of party loyalty test and it was very focused on climate. it's funny all theti democratic congressman said it had nothing to do with inflation they just called it that because that's what they wanted to call it so it wouldn't be called a climate bill it was bjorn lomborg with his analysis and global co2 let alone potentially the climate in any way shape or form the biggest porkbarrel spending bill gatesis personally lobbied for this bill colleen of joe manchin and it turns out

new numbers out of the iea shows liquid production is almost back to prewar levels at least it was just before the full sanctions kicked in, which might explain why oil has been soft as of late. a bunch of russian oil hitting the market right ahead of those sanctions. the price of wti crude is at $75.74 now, bitcoin has not been soft bitcoin is actually back to its highest level in more than a month and is nearly back to 18,000 despite everything else that has been going on. >>> all right. now let us go worldwide and get a check on the early trade in europe and some signs there that soaring consumer prices may be slowing just a bit in the uk arabile gumede is standing by in our london newsroom with a little bit of good inflation news arabile, take it away. >> yeah, brian good morning to you. look, certainly that inflation print will be the key perspective to take a look at, right? it is, indeed, decision day out in the u.s we expect decision day as well in england tomorrow. the bank of england is set to make their interest rate decision there and it will follow on from today's inflation

2023 they don't have a good vaccine and don't have a great health care system, so that's a brute the ieas morning reported pretty impressive numbers for china growth they've also got aggressive cuts in russian supply. if you combine those two things together, their note this morning read very bullish. >> your paris trade, paul. we love to do this it started as a fun thing. the last one was what, short ford >> well, yeah. it was long e andi we thought the europeans would have a run the e and i side worked okay karen, to give her credit, said better tesla than ford i said i'm doing ticket e versus ticket f i agree with you on tesla. that trade kind of worked. i credit karen with the call there's an oil supply problem globally we know it's out there we think the oil service is going to be a great way to play a bullish oil run here we're looking at halliburton if you want somereal hair, you could have gone briggs transocean we're saying halliburton on the long side. one thing the eia is reporting is really bad petrochemicals, the combination of weekenning demand and high input costs. we're s

when you look at iea data, and maybe you have your own, the difference in china's oil consumption could be anywhere from 2 million to 3 million barrels per day based on how their economy is going what do you see with china and oil demand >> well, i don't think it's that much of an impact. i think it's closer to a half a million barrels a day up to a million barrels a day. and irrespective of the total exact amount, i think that's worth about $5 to $7 a barrel increase in oil prices, especially as airline traffic comes back >> how much do you think, and we're seeing, by the way, air travel and i guess demand for tickets was up like 90% in china. how much do you think that jet travel, air travel, flying, jet fuel, et cetera, driving more, will ultimately drive demand is china going to be back to 15.5, maybe 16 million barrel a day consumption? >> i don't think that's going to be the case in the near term i think it's going to be 6 to 12 months out you combine that with, say, the halt in the strategic petroleum reserve sales as well as a slower growth rate of oil supplies here in the unite

director general at the time but then the israelis provided this nuclear archive to the agency the iea they got a new director general and they they did just what they've always done you give me new information we'll we need to confirm it we'll go out and we'll we'll use it and expose secret activities that aren't allowed. then we'll confront the country. >> we're about to have another we're in the season of quarterly reports from the comes out today. >> they come out they're they're out now. >> have you seen it already >> i've only seen reports i mean we'll probably probably we have it now but but it but on the on this issue of the ia iran and the eyes said they made no progress with iran always shows up before the reports come out and say we want to meet but director general grossey already announced that nothing nothing iran brought nothing new to the table it was just it's just cause it's just a show and and and the eye is getting impatient with it and and so of course they never say the the i in the language of the iaea it never says iran has a military nuclear program they just s

coal consumption this year according to the iea will set an all-time record low. the question, is mark i take your point that the politicos have moved from legislation to executive fiat. and emergency power but congress did pass the inflation reduction act so call like to ask you what you think is going to happen because here's this named john podesta was in charge of doling out the money. the word corruption. i. and i wonder whether you think the corruption is going to follow is really a good thing or a badthing . >> corruption is generally regarded as bad the inflation reduction is biggest basically a partisan loyalty test and it was very focused on contemplating always constant and it is nothing to do with inflation, the ththat because that's what you call it when people go but that was rogers junior, it went into effect global co2 levels let alone actually the class in any way shape or form so what do porkbarrel spending personally lobbied for this spell joe mansion and it turns out bill gates enterprises will be benefiting. i want to say it was more than hund

triggered by the russians invasion of ukraine is marked unprecedented momentum for renewables know the ieat sources of energy will become the largest source of global electricity by as you say 2025, so surpassing clothing agency expense a renewed hope for 40 percent world wide electricity upward by 27, coinciding it says, with share of: natural gas and nuclear generations and all i can say is we will see. stuart: [laughter] your diplomatic that's very good and mike murphy is still with me and new york and are you investing in renewable. >> we are and you know we want to invest two or anywhere where we believe there's a large market which is obviously a large market where we can see disruption and we can pick the winners in the space and so let's one of those you see these reports coming out and obviously there are more people buying electric vehicles and more more people electricity will be used to charges but how that impacts the environment, versus fossil fuels, and it goes over my head but i think that it is clear that where we are going is that there's going be more more people using r

coal consumption this year, according the iea, will set an all time record globally. my question is, mark, i take your point that the the politicos moved from legislation to executive fiat in emergency powers and emergency power but the congress did pass the inflation reduction act so-called. and i'd like to ask you what you think is going to happen, because there's this guy named john podesta who's put in charge of doling out the money. now the word corruption comes to my mind and. i wonder whether you think the corruption that's going to follow is really a good thing or a bad thing. i mean corruption is generally regarded as bad. the reduction act was basically a partizan line vote, a sort of a party loyalty test and it was very focused on climate. it's funny, all these democratic congressmen come out, admitted nothing, do with inflation. they just call it that because that's what they wanted to call it. so it wouldn't be called a climate bill, but too serious, analysis of that was bjorn lomborg roger pilkey. jr two separate analysis it wouldn't even effect global l

like a lot, but when you're already high, that's a new record in fact, let's measure it in weight the iea says that coal use should hit 8 billion tons this year and that would break the previous record of coal use set in 2013. all right, what? why is coal so hot well, number one, it's a cheaper option, okay number two, you've got a lot of weird weather. you had a lot of heat, you had a lot of drought, you had some lack of wind what does that mean? well,hydro, you need more coal,f it's too hot, you've got to run the air-conditioners, and if there's no wind, you have to get the power from story this is a china/indonesia story. china, they're building whole new coal capacities. they had power outages last year paranoid about running out of energy coal use here in the u.s., also still way larger than you think, kelly. look at this the electricity generation mix, a couple of hours ago in what they called the mid-continent iso, independent systems operator, you can see it's about 40% coal now, this will be wound down over coming years, we are toad but for now, coal, look at that, coal around th

they believe that there is some oversight with the iea and other close observers that the fasttrack really began after he withdrew from the agreement . so how do you justify sort of letting iran to whatever you do leversus having something whether it be a highly problematic agreement that at least has some checks over the program. >> i think the israelis when they did that on the iran nuclear archives saw there was no check, the jcpoa wasn't a check on their program but we should have a deal with iran. we tried to get a deal with iran in the trump administration and there should be a deal. what should that deal include ? it should mean there's a ballistic missile program at israel risk but all of us at risk should be curtailed and not. the nuclear program should be stopped in support of terrorism and radiant terrorism should be stopped and the attempts to assassinate former officials and dissidents in america and europe. so those are threshold issues that shouldbe part of the deal . and if karen wanted to become global country and frankly stop supplying russians with drones and ballistic m

while specifics are a bit murky at this point, the california department of emergency services or cal ieahackers did not steal state in other words, your tax dollars put. they're looking into exactly what happened. the department of finance is in charge of protecting state assets in preparing the governor's budget. cybersecurity expert eric noonan says that one thing is clear. >> we all play a part in protecting ourselves. >> the end of the day know that you're very unfortunately as vulnerable as the devices and the applications you use. much of this is out of our individual control. and that's why i think our federal government or state governments have unfortunately regulatory role that they really need to lean in to enforce to raise their standard. >> well, and this is very much still under investigation. of course, officials are looking into who was responsible and what the hackers actually got access to and how it all happened. so hopefully update you as more comes in 6.51 right now. and with the holidays, a lot of people are going to be on the move. nearly 113 million people. >> are

well, this guy, mark littlewood, the director of the iea , had a sort of funny analogy iea, had a sort have the recipe for making the most perfect and delicious pizza. and the pizza here is high growth economic . but if the chef is economic. but if the chef is hubristic or crazy was sentenced six and a half years in prison . so you can years in prison. so you can never ignore it . fortunate. was never ignore it. fortunate. was there any financial motivation ? there any financial motivation? i mean, what you chasing or protecting bonuses? or was it really predominantly about your pnde?l really predominantly about your pride? i it was really predominantly about your what's your account of what happened michael. well it was at a ukip conference about ten years ago now and i went up to godfrey with conference brochure, which had lots of little photographs of all, i think the ukip councillors from the country and i think the ukip councillors from welcome back. once more to neil oliver live. i have to speak very quickly, though, because time is behind us all the time. for many around the wor

because obviously we've got warning obviously we've got the warning from iea that given all from theat given all these problems, will these rail problems, people will take get into take to the roads to get into the town and city centres . yeah, the town and city centres. yeah, exactly. here the car parks are full, the roads are full. people using an alternative way to travel into the centre here in birmingham is pretty busy. street is normally the busiest station here. it's got connections across the uk so people are using cars today generally on boxing day there are less trains , hundreds of are less trains, hundreds of trains rather than a whole network working . but none of network working. but none of thatis network working. but none of that is happening today. network working. but none of that is happening today . so the that is happening today. so the trains are busy. the estimates and around 15.2 million journeys will be made across today. they'll birmingham thank you for that. more of course throughout the afternoon as we update people on the travel situation . people on the

joining me for talking pints, mark littlewood, he's the boss of the iea and used to be the press officer be a few things to talk about there won't that. but before we get to the show, let's get the news headunes show, let's get the news headlines poly

with that russian gas offline, maybe forever, by the way, the iea in what some call a bullish estimately, meaning undercounting, suggest there's a hole of 30 billion cubic meters. well, these are big numbers. what does 30 billion cubic meters mean? to put that in perspective, we reached out to tuler engineer and said, what does that mean? 10 to 12 average size lng ships equals 1 billion cubic meter 30 times 10 and 12 that means to fill europe's hole, they're going to need another 300 to 360 lng tankers a year obviously, the u.s. doesn't have that much. doesn't have that much export capacity particularly if china comes back online but it shows you what the future demand may be. all right. who are some of the players? there's names you know freeport, venture global private, but other names i do want to caution our viewers that some of these are highly volatile they get pushed around tulerian down to 2.5 take that with a grain of salt there's chart industry that stock has fallen 42% in a month. lng is not their primary business highly volatile. analysts see a lot of upside there. this is

the director of the iea and yet to be pressing again. we are facing a reality work three months from now it is not in there. it means they can divert this material away. they're not going to quite now necessarily where it is. they are a threshold nuclear weapons state prison not a nuclear weapon state yet. they're building the wherewithal that permits them at some point to move to it relatively quickly. so on the one hand we have no diplomacy program is not frozen it is advancing. and for me it suggests we need a strategy of deterrence. by that i mean they feel they are can what they're doing. in fact they think ultimately it will build pressure on us to be more responsive to them. we need to be able to demonstrate to them the path they are on ultimately is mark costa then. for me i give you a series of steps we could taket to do that. i feel we have to focus on reestablishment deterrence if we want to avoid having to use force and if at some point you want some kind of diplomatic outcome. we cannot be in a position where we are providin

joining me for talking pints, mark littlewood, he's the boss of the iea and used to be the press officer things to talk

iea think finally from the standpoint of encouragement of funding that has been historic of the research i think should absolutely continue and if the researchers i work with today that are getting more i think the auspices of considering the extension is applied by researchers that can be the hands and feet of the said land-grant or going to be important as well. >> thank you very much. i appreciate you joining us as well and appreciate the next generation of the food and agricultural professionals in the land-grant institutions are absolutely vital to improving and also uplifting so thank you for being here. how have the investments provided by congress in the farmville strength and your ability to reach for students and recruit qualified faculty members? >> thank you, chairwoman stabenow. great question. the scholarship programie has bn absolutely impactful to recruit talented students to increase the interest in the agricultural field and agriculture related to be able to come in and be successful it lowers the financial burden for those students that are able to concentrate. scholar

. >> scott garriola has this big iea.d in that circumstance? >> and that was the plan we set in motion. i obtained a passport for colon so that he could travel under an alias name. >> fbi agent garriola is bending the rules again. the fbi doesn't normally take criminals out of the country to work undercover. >> banerjee wanted to meet in zurich. >> we got colon a disguise that he could wear. >> a beret and a mustache to make banerjee convinced that he's actually a fugitive from justice. >> you know, what would you expect a fugitive to do when he was overseas on the run? maybe change his appearance a little bit. >> steve compliments him on how different he looks, very european, as if he's been on the run for quite a while. >> colon and banerjee dispatch to a hotel room. >> the fbi have the rooms on either side of ray's supposed hideout room. >> this is absolutely a do-or-die situation. if banerjee doesn't give us what we need in this conversation, what's the plan? i mean, this -- this has to work. >> ray has taken the stra

he went to the iea. we confirmed last year by 90-2 in your current role which is almost unheard of in american politics these days. congratulations. it is great to have you here. there's a lot of energy we want to talk about and the obvious place to start is ukraine and what has happened over the course of the last year. just give us the landscape of what you think it means in terms of energy security to the united states, for the allies it is a huge topic in europe heading into the winter and how is the department responding? >> thanks, to moderate this and thanks for the secretive form for inviting me to join you all is a pleasure to be with you all it is an incredibly dynamic, exciting and unnerving time. and all the issues we deal with at the department of energy. i think i have got a few reflections on you which has been it busy and challenging year. what is happening ukraine and the invasion has been rightfully a wake-up call i remember going to germany after the invasion meeting with the new team

look, is this public sessions that was iea event last . the institute of economic affairs .he room really that maybe they dared to dream . they dared to dared to dream. they dared to dream. and the bank , england dream. and the bank, england came and just clobbered them. and establishment financiers and clobbered them. and now we've got , you know, archetypal man in got, you know, archetypal man in a up edinburgh . a suit hunt up in edinburgh. well, it would appear making life easier for the bankers again. didn't british public again. didn't the british public be on board with this? well, it remains be seen also remains remains to be seen also remains to be seen how implementable some of the today would be. first of all, we had reforms. yes, surgery forms, as you suggested . but in a number of suggested. but in a number of cases, we have been consulting in order to change things in the future. and of course, the moment you start consultations, start sort of start having everyone sort of writing for writing and objecting. so, for example , there is also amongst example, there