john wayfield, you still with us? no bottom in sight for oil and gas?o lower because it keeps breaking key support numbers. >> it is all about supply and demand. what came out of the fed meeting was janet yellen talking about demand going forward. inflation is low because every prices are down. that was pretty much a comment on europe without commenting on we'll ppices will stay low. charles: europe i know has the boom was china, india, brazil, emerging markets going through growing pains but could we see them pick up the slack of little bit? >> we could. we are seeing a lot of problems in asia and europe especially lead for the first time by germany and they have driven the e.u. economy. we are seeing a lot of will come on line. we haven't come offline in iraq, we are seeing the same thing lifted in iran to some degree, more oil coming online. libya's production is considerably up. in the united states is approaching the eyes it has ever been. charles: i am a conspiracy theorists. when the price goes down would cut production, supply and demand. they d

let's bring back john wayfield from sunny bermuda.pany passed exxon mobile as the second-highest valued company by market cap behind apple? who is the new number 2? here is the hint, i own the stock. >> if you own stock it has to be a great company. you owned it for quite a while you have quite a profit in it but microsoft has reached back calling back some margin cap, not number 2 in the world. bernard: when you didn't see it coming. you didn't urge your people to get out and buy microsoft. you didn't help me out at all. >> $37, i think it has probably reached the top for a while. i was completely wrong. you were right. stuart: before you go the latest government members say the richest 1% paid 24% of federal taxes. that is redistribution, right? >> i would think it is under president obama. 29% was the effective rate the upper 1% was paying. now it is around 33% according to the cbo. the top 20% of earners pay 70% of taxes so i would say that is a fair redistribution of wealth. stuart: a fair -- did you say -- >> there as an amount.