the chairman said the firm has been able to negotiate lower costs for liquefied natural gas. he also said the utility will substantially reduce the length of time that thermal plants are shut down for regular checks. he said his firm lacked the know how to control costs as many factories are able to do. he said he will speed up reforms of the firm. >>> and i'll be back next hour with updates on all of these headlines. i'll leave you with a check on markets. >>> move from the march 2011 tsunami has begun in the northeast. an evacuation order has been in place there since the accident of the fukushima daiichi nuclear plant. they began clearing an area on wednesday morning. preparations are underway to lift the order on the area. radiation levels there are relatively low. estimates 5,500 tons of debris needs to be removed. it will be taken to a provisional storage site. >> translator: i hope the debris will be removed as soon as possible so that we can step up our reconstruction efforts. >> translator: we hope the removal will be the first step in reconstruction. and residents c

the two firms are jointly developing liquefied natural gas on the indonesian island. the joint venture will include producing and supplying the gas. started three years ago, the project is the first of its kind in the world. its total operating costs are at $2.8 billion. about 30 employees from japan and south korea are permanently stationed at the venture's headquarters in jakarta. they plan to start production next year. >> translator: we hope to build a relationship with our south korean partner in which we can be frank about everything. >> reporter: japan and south korea are teaming up, because both countries face the same challenge, a lack of energy resources. japan is the world's largest lng importer. and south korea comes in second. so far, the western makers have controlled much of the world's energy production. japan and south korea have had to pay through the nose to get the gas. what's more, emerging economies such as india and china have started buying up the energy, too. securing stable supplies has become a major challenge. so, the japanese and south kore

one of the enormous tanks that will store the liquefied natural gas, climate scientists say a different approach is needed to attack global warming. >> if you invest in very large facilities that give you access to lots of new gas fields, the temptation will always be to continue to burn the gas, to look for new resources. unfortunately it is not compatible with climate change targets that we continue to develop new gas, you know, into the second half of the century. >> but demand for gas is booming. in china, many want it to replace coal. in an effort to clean up the country's devastating air pollution. in the united states, tracking fracks has led to a flood of gas, cutting energy costs for key industries. and in lithuania, a new ship offers energy security. for decades in tiny country has got all of its gas from country. now lithuania feels more independent. so work on this huge new project comes at a time when the appetite for energy is surging. shell believes prelude will transform the way gas is produced and more of these massive vessels will follow, but it is the first of its kin

nuclear the terrible accident, and as a result of that, they had been importing liquefied natural gas. that price has hinged on the price of oil. the price of oil is going to come down, and the price of natural gas is going to come down. their electricity cost are coming down. china, which is kind of where you started, it was china 10 years ago getting in on a high growth track that really stimulated this whole blooming in commodity prices and oil. but now the premiere of china recently said we are moving from high to medium-high growth. others medium growth. so you do not have china as the kind of dynamo of commodity prices of oil. they import 60% of their oil. for them to have that come down, that could boost -- although they have a strong domestic oil industry, that would boost their economy. make the cost of shipping goods cheaper. are in termsere we of becoming an oil-producing nation, and what impact that might have, especially when combined with what is happening in canada. >> the u.s. was once the world's greatest oil exporter. then we became an importer and the largest import

they need that liquefied natural gas. >> they do. they need the gas.hink you'll see -- i think the fact that gas is tracking with oil right now is not going to last very long, once people realize they really are different fuels. >> you had a vision to sell at what now looks like the high. are you surprised yourself that oil has come down this far, or could it fall further, given the fact you have the largest natural gas storage, there really isn't any place to store what they keep pumping. >> no, it's -- they're storing it in tankers, i guess, now. but you can see prices come still further down, although, i think that probably will begin to revert to the norm in the not-too-distant future. >> are you surprised that wall street is viewing this as potentially catastrophic, given the fact that russia and brazil are in such trouble? >> i think that they could be in big trouble. >> you do? >> those two countries. >> and would your area of power be influenced if russia collapsed or if brazil collapsed? >> not us, not at all. our customers for our natural gas

. >> might also mention, liquefied natural gas.e have anga back here. >> the good news is it doesn't require congress. it's movingings forward already, but the last point i'll mention. technical corrections, modest adjustments, but bring those bills back into the forum. >> the associated press. >> thank you very much. >> the senator mentioned cowardice in the congressional some years ago. and that's a term here in the gridlock. they are not willing to risk some static back home. i'm wondering if, the american voter, had in your time of looking at american politics and government, have you seen a change, are americans less willing to take some dings on paying taxes or having a limit on social security and medicare, that sort of thing? or is this all a reaction within congress itself? >> i actually think that the american people are willing to be led, if they can be shown that in so doing, america can be elevated to a higher level in public policy or in ultimate objectives. so i, i think there is as jason so eloquently talked about e

natural gas just to china than all of europe combined. more they, when you build the major pipeline, you can start shipping out arteries to other markets. that will happen. what about lng, liquefied natural gas. one is talking about the allergy revolution. the u.s. and canada are at least five years behind russia and qatar and australia for that matter. when you look at the giant fields the russians have, you look at the stockholm giant gas field, which has posted a billion barrels of oil, they are already building things. more importantly, there's something called as lng, floating lng. these are the biggest ships on the planet and you can move into the arctic where there's no infrastructure in the ship is essentially a floating lng are. there's one in operation now in the northern coast of australia. now let's talk about putin is a shin. anywhere between 45 to 50 million pounds annually. with the last 20 years, on average, 20% of america's electricity is generated by nuclear energy. half of that nuclear energy and uranium came from russia. that means that 10% of america's electricity generated over the last decade came from russia. that is one in every 10 homes in america. globa

. >> you might also mention liquefied natural gas. >> the good news about lng as it doesn't require congress the last point i will mention is dodd-frank. we never in this country passed a massive piece of legislation like dodd-frank are the affordable care act, perfect and locked it in forever. we have always had vitter of tuneups and improvements and there is a possibility both around the aca and dodd-frank to make some of those technical corrections modest adjustments but bring those bills back into the forum. >> mr. bevington of the "associated press." >> senator lott mention congress and immigration and that's often a term we hear in terms of gridlock that members of congress don't want to take of votes to risk static back home. i'm wondering if the american voter had in your time of looking at american politics and government, have you seen a change? are americans less willing to take things on paying taxes are having a limit on social security and medicare and that sort of thing or is this all a reaction within congress itself? >> i actually think the american people are willing to be

particularly in the asn wer mark competing again also e resource of great importae and intert mainly liquefied natural gas. think the market will once again have to be cometitive with nucle ergy or is it ing to be one of those resources that we allowto weather on the vine with tragic consequences in the ability to meet the clima change goals think it would be useful if could get some insight into how far along the ph towards commercialization around the worlnot just in the unit states but we heard an excellent presentation about how ar away is the technology in some other maets. and are there oppornities for usinthe convential techlo to replacethe older generation of technologies that most of usare using. so, without further ado let us turn to the speaker and we will stt with laszlo varro f some opening remarks. >> ladies andenemen, e launch othe otlook onay afternoon and esday morning the first thing i did was ju on the plane and i'm very gld for the pefect timing. i should emhasize that ths outlook we look at is what is happening in the real-life industry and the#going to show you ur widh of the beinnin

and then lastly -- >> you might also mention liquefied natural gas. we never passed a massive piece of legislation like dodd frank or the affordable care act perfectly and lock it in forever. we always have tuneups, tweaks, changes, and improvements, and i think there is a possibility both around the a.c.a. and dodd-frank to start to make some of those technical corrections, modest adjustments, but bring those bills back into the fore. >> i'm from the associated press. >> senator lott mentioned cowardice. that's a term we often hear in the term of gridlock, that .embers of congress i'm wondering if the american voter, in your time of looking at the american politics in government, have you seen a change or are americans less illing to take some paying taxes or have a limit, that sort of thing, or is this all a reaction within congress tself? i actually think the american people can be shown that in so america, in public policy or ultimate objective, i think there is, as jason so eloquently talked about earlier, there's far more trance pearns a today.

market competing against also a resource of great importance and interest these day mainly liquefied natural gaso we think coal will -- the market for coal will perhaps once again have to be competitive with nuclear energy or is nuclear going to be one of those resources that we allow to witter on the vine with perhaps tragic consequences for our ability to meet our climate change goals? i think would be useful if we can get some insights into really how far along the path toward commercialization around the world, not just in the united states, but we heard an excellent presentation from julio but how far away is ccs technology and some other markets and if ccs is far away, are there opportunities for using conventional advance coal, such as super critical and ultrasuper critical technology to replace the older generation of technologies that most of us are using? so, without further ado let us turn to our speaker and we will start with lass low with some opening remarks. >> thank you very much, mr. chairman. ladies and gentlemen, which launch the new coal market look of the agency of monday af

craneion governments have sought as probably a short to medium term solution the importation of liquefied natural gas, of course requiring transit through the turkish straits. i wonder if you could, in light the new government there, the presumptive cancellation of south stream and shall we call a fragile though concluded agreement between russia, ukraine, with the e.u. brokerage just in the last few weeks, how does all this fit together? is the new ukrainian government likely to be interested once again in that option? might they mount a diplomatic effort in anchingra and is turkey perhaps more or less likely to accept that given all these other factors? >> a couple of different questions there. i'll fall back on my remark about the hazards of making any predictions about ukraine right now. but i will certainly say that for this government, diversifyication of gas supplies is a strategic priority, it's a strategic priority that the united states supports. over the short term, the best way to achieve that is through significant further growth in reverse flow and there has been even in the past few mo

. >> might also mention, liquefied natural gas. we have anga back here. >> the good news is it doesn't require congress. it's movingings forward already, but the last point i'll mention. technical corrections, modest adjustments, but bring those bills back into the forum. >> the associated press. >> thank you very much. >> the senator mentioned cowardice in the congressional some years ago. and that's a term here in the gridlock. they are not willing to risk some static back home. i'm wondering if, the american voter, had in your time of looking at american politics and government, have you seen a change, are americans less willing to take some dings on paying taxes or having a limit on social security and medicare, that sort of thing? or is this all a reaction within congress itself? >> i actually think that the american people are willing to be led, if they can be shown that in so doing, america can be elevated to a higher level in public policy or in ultimate objectives. so i, i think there is as jason so eloquently talked about

natural gas. approve more liquefied natural gas terminals. i think reach out to the european union and try to get us to be the main suppliers of natural gas to europe instead of the russians. find ways that we use our energy independence, renewable energy, renewable fuels. shale, oil, and gas. our tech following. and export it to create more manufacturing jobs to create more jobs here at home. >> is that from an economic perspective you're thinking or from a security perspective? >> from both. it's in our enhanced natural security to expand our exports of our energy sources especially oil and gas and renewable. but also economically it creates more jobs for us. we're hurting a little bit right now with the lower oil prices. states like mine, new mexico, that depend on that budget. a lot of small drilling companies are starting to really hurt. a lot of extraction is diminishing. >> governor, what do you think? does $58 oil let alone $45 oil, does that kill a renewables program? i mean, is this going to delay it, defer it, or in some way discour

more facilities that could liquefy this natural gas. export it after all.t seems like a no-brainer. you know the industry and you know the result. >> most people in congress, the gop controlled congress right now. this is among the few things that they have thrown out there. if you talk to people in the heartland, even democrats as well, they see that there are jobs created. you can give some help to more jobs in this industry. there is also a national security component to all of this. you should want china, you should want the chinese dependent on you. that is why you should build the keystone pipeline. you should track. the geopolitical are fascinating. that is because oil prices are falling. >> both under a whole lot of pressure. i think that the impact will be amazing. by the way, do not forget japan. you are talking about an easy business plan. the keystone pipeline, fracking, monica mentioned the president and ideology. you know this industry very well. of all the things that make it done next year, i kind of believe that this is something that will

out about this company, a few years ago they won an approval to build a facility that takes natural gas, liquefys put it on a ship, send it around the world, i called company, i said is there anybody to talk to, she said yes, but we're all getting drunk, i have loved that stock since then. i really think that the story is big deal. in america, gas is nat gas 4 bucks, we liquefy, put it on a ship, we take it send it sell it fofor $10 $14, and $16, it goeso 90 a share i think. >> i have been looking to get back into it, i will probably go into the stkobg tomorrow. stock tomorrow, this is a secondary play-off oil. with natural gas, so expensive in world still cheaper to li questioliquestionliquefy here. >> i know you are ain' ain't ar- antifracking, but from an investment point of view. >> i live up states so i hear it, i owned stock a long time ago, i did not stay with it long enough, whole movement like ul, ups, this is a big story, compareed with oil this is great. charles: do you know this one? >> i do. they raising to support this facility. expanding like crazy. the fact that there is a dip now

compromise, the white house finally not just keystone, lettuce built more new liquid natural gas facilities, liquefied costs $4 and we could sell in japan for 14 bucks. get rid of this ban on exporting crude oil. when will the white house and its take advantage of this, let's dominate the world? >> when we get a new president will get that. if we get a new president -- stuart: will republicans nominate somebody who will do what charles just said? get out there and do it. >> that is the issue but not the only issue. think about what is happening, working with community banks across the country, what dodd-frank has done, to collapse community banks and what we have got to do is find ways to expand where we get community banks which are 90% of small-business lending in this country when they get back to lending, small community banks can be the impetus along with -- charles: financial crisis, five banks controlled 44% of $15 trillion, big banks got bigger, people can't get loans. black people in america have 34,000 mortgages out of 1.6 million last year. talk about a president's is the devastating disast

natural gas project there. they're going to sell it for $5 billion post tax. they're looking at a profit just under $3 billion. when on to read bank of america's recent note on liquefied national gas. multi-year markets may have an uptick. multiyear bear markets on something they bet significantly on. that is bg. global equity actually making a one-month low. that asian news was very much a theh-up session, mirroring 2.2% drop in europe. that is the bg start. back of the japan story, not necessarily tied together. it is structural change over at rbs. credit fixed income positions to go. 30 representatives will be left. caroline hyde will take you through the story. standard chartered down this morning. they will remain under investigation from the u.s. regulators on site for another three years. there is more new information that they may have been unlawfully processing dollar transactions. this is a risk. this is a risk for them that falls more issues. i can only talk for so long. you can come back to this. these are the two greek strauch's -- stocks, biggest drops in greek stocks since 1987. the point is whether you believe there is a momentum behind a seeding to po