lng world. interesting, it will be an oil permian conversation, as well as a trade conversation. in the markets, we are softer as the trade continues. s&p futures off by two. dollar-yen off by .2%. the yen still trying to persist, the safe haven of choice. watch tech stocks. they got hammered yesterday. 10-year, 2.87. not the kind of yields that you would expect to see based on the massive equity moves we saw yesterday. david: now it's time for the morning brief. 9:00 this morning, we get u.s. house prices for april. at 10:00, we are watching for supreme court decisions on the travel ban and labor union cases. and at 1:00, the u.s. treasury is selling $34 billion of 2-year notes. alix: company starting to detail the impacts of tariffs on their business. yesterday, harley davidson saying that they would ship their production out of the u.s.. this morning, the president on twitter, they were just using the trade war as an excuse. unbalanced the trade war is, but we will fix it. we are opening up c

lng, what kind of opportunity is it for you in china?important we leave lng and energy out of the trade war, if it is called a trade war, for us, important people can get access to clean energy and gas is the cleanest energy available. in the fossil fuel arena. if it getsts in -- in? >> my advice would be to leave it out, it would make us more competitive and make the u.s. less competitive. if that is the case but we think the demand needs everybody to be a part of that energy mix. we are the largest energy supplier, qatar. we have announced we will grow our lng business from 77 million to 100 million very soon. there is the growth. we are investing in the u.s. to have additional lng. >> aggressive growth plans, a report today said the u.s. government of the biggest supplier, if there projects come online. if that happens, do you have to produce more, do you have to discount lng? more price competitive in asia? >> what is happening, if you look at the growth around the world and the requirement for clean the fossil fuel, gas, china, indi

lng next year.pact if you get a trade war and these tariffs imposed on the energy sector? now, of course, the chinese are looking at what tariffs are coming their way. they have not included lng. we will see how that goes. there's an enormous amount of self-interest on both sides. china is rapidly moving out of coal-fired power. they are looking towards guess. america has a fantastic gas product to offer at a great price. right now, china is america's third-largest importer of lng. very quickly, we expect china to be the biggest potential importer. that positioning is great for the u.s.. we would like to see more of that move. it's not just china, by the way. we have been supporting financing for lng imports projects in places like bangladesh and pakistan. ande looking at sri lanka the philistines. a big -- philippines. , chapter that could come -- a big chunk of that could come from the u.s. are you seeing a slowdown in investment in new projects just because of the test just until the uncertainty

lng what kind reaction does that make for you in china?ant we leave energy out of a trade war. for us, it's very important that people get access to the cleanest energy. and the fossil fuel arena. in, whatit gets opportunity does that create? >> my advice would be to leave it out to make us more competitive in areas and make u.s. less competitive. but we think the demand in the world needs everybody to be part of the energy mix. the largest energy supplier today and australia is also quite large and growing. we have announce we're going to grow our lng business from 77 million to 100 million. so there is a big growth. we are also investing in the u.s. to have additional energy out of the u.s. alix: they're in aggressive growth plans. the i.a. report said the u.s. could become the biggest supplier. if that happens, do you have to produce more, do you have to discount your lng, where you have to get more come price -- more price competitive than asia? >> what is happening and if you look at the growth around the world and the requirement for

which brings us to lng terminal.t was the talk about how quickly the new terminals could come online to meet the supply and demand? anastacia: it takes about four years to build a new lng terminal, and it looks like they will need more lng on global markets in the next five or six years, probably. so those terminals need to start construction soon. the big question there is can they get enough contracts in place for that gas and enough contracts that investors are willing to invest in the project so they can move forward? alix: which also brings up the question of contracts. when i was there, that seemed to be all the talk as well. what kind of contracts are we going to see going forward? it typically was a 20 year contract, a couple really big buyers putting commitment in there to get the pipeline and -- in the terminal. anastacia: it looks like a long-term 20 year contract will be needed for a lot of these projects. two new contracts were announced this week at the conference for u.s. exports. those were contracts

he raised the issue of lng exports. this isn't a question, i'm gravely concerned that we don't get into exports to the point where it significantly impacts domestic gas prices because would be giving up the one of the great advantages, and there's this -- and when i hear 14 projects in the permitting stages and another 6 on the way, i just want to put on the record a note of caution that if we export to the point where it affects domestic prices, we will have injured our manufacturing economy as well as our consumers. that's number one. number two, many chatterjee, i would appreciate it if you could supply data on the tax cuts related to lowering electric bills by state, if possible. if you could finish can you don't need to do that now, but if you can supply that for the committee, i'd hike to see that. i was not aware of the data on that. commissioner lafleur, you're a new englander, and you've seen the dependency in new england on natural gas go from 5% to 50 or 60%. i just looked, it's 46% at this very moment. does

on the lng story, that is the benchmark to oil. most lng is sold on oil benchmark contract.ome down, that would weaken the lng story. australia is a not a large producer of lng itself. areas lng is one of the where you could see more weakness if you see china offering to buy 25 billion dollars worth of goods this year from the united states. what does that take away from australia? >> these are commodities. they are homogenous. -- if we are not selling them to one country, we will sell them to another country. chinare is a shift and buying more from the u.s., then all straight would shift what it is selling to another country that would otherwise be receiving the energy that the u.s. would export to it. the trade policies for it might not be as critical. they are homogenous. they can go to china or other markets. haidi: a more optimistic conversation than i was expecting. thank you for joining us. just to recap, three point 1% first-quarter gdp growth in australia fastest in two years, rish. let's get you to first word news with paul allen in sydney. >> facebook has confirme

you know, the area of potential weakness for australia would be lng exports.rtheless, we think domestic market could be looking at a shortfall. and clean fuel, pretty much solid demand globally. so we are not over concerned there. i think as we are talking about all these short-term u.s. china traded tensions, i think it is important tor in mind longer-term positive that could come to australia. our tim across the region has been writing about how we are at $1.5 trillion of spending over the next 10 years. increased infrastructure spending, road p everywhere from bangladesh to for iron so increases ore. and australia is well-placed for that. ramy: that is a perfect segue into my question about commodity prices looking ahead. of course, the avs just came out with numbers. miners up 11% yesterday. and do you think that this is maybe a saving grace moving ahead? and to what degree can this be counted on for support? >> we would not think australia's commodity prices should fall to much further from here. iron ore prices, number one for australia, currently at 64,

similarly for our lng facilities, we have a need for cryogenic steel.ral gas could be -- gas down to u.n. thit call -- subcritical temperatures so we can lek bify and transport it. that is not necessarily available here in the united states. that has to be imported, and we import that directly from e.u. manufacturers, the very countries that were affected by today's action. liz: stephen, you work for a european bank in france. tell me, though, from a standpoint how you look at things which is not political, you're looking at the landscape, and you're trying to figure out what happens economically globally. what do you see from these tariffs now on both sides? >> okay. i mean, it's -- you can't take politics out of this. it's absolutely impossible, and this is a lot of negotiations, and politics are certainly part of it. from the tariffs we see now and each the retaliation coming from others, if we knew that was it, if that was the end point, i don't think we'd have dramatic effects for the u.s. economy. certainly, the ones that are buying steel, you kno

g to w theeendke'r youe ingo feel around 10 0 degrs,ee andn o or yndre we'oo lng at 105 f e heat index. e w gont ie o thsuaynde tim fre,amha we ve ath weaer eralt. 74re deges in inwashgt.on arthe ea ss iigtsnhe t mid to upper 60sn i annapolis at 78 eedegrs. incl atont73 frerk,ic 68re deges. if you are heading to theea bch today, wver youe'r rlleay dogin t forhe ekweend, look at e. wisereath pteatnrn i acpl weeoi g to stay nice andry d fr tomayuesdhr tou mghofost weesdnday. ae s mosoft ne wedsd bayseecau part of thea hasit a ltl e rms.an f orunthdetors llho souw y that in a ndseco. planner, ay teermpesatur wl ilrobe aund 87 by noon. :0 40 m.p., 93 grdeees. wasoe g tghhrou the enweekd, even hott.er lookt ar you wkeeend focare d. we're acrosshe t ekweend. 96 tusarday. 98 on sunday. atthan's dgeusroat he. yifreou a hdieaong t t bhe each th isweekend, we'll seen i the mi tdoer upp 80s. ilit wl beun sny and dry. ly.k at yrou frtou h ofju re looking at a traempeture ound es82 degre itth at e beh. h.nny andry dt athe acbe , ifou yre a farther lainnd, th'she we re wha ave chance forth rsundetos

kita lng aoo aketh purple. u can seeha we ve a full cle.osur anes blocked because of a seou sh.cras alwe tke wdith police. th she this could be t for ahi tlemohis rng.in r uppemaborlnbro iou 4nd d to youeruse. ovtuer trnedru wck lithanes cl.osed itas w cryaring ma.nure road, and s acrshe t eyth t arerygin c tole tanhat .p po alicere directing you arodun th oisnere thes thimorning. e theris arkwoun-arod there. h evychase, cneonutcticnu avee atn. wester somean lloes bckedre the becseau n ave ohtrnig c.rash ltywa s hadomeliarer road work. s iow n gone. evyter lhingoongkid goon o the beway. >>s it' curidilo.us it's scy.ar you know? ei yan,ou go to the movie threate a wnd aorrybout gtietng shot. . scolho azy.r > atthre is bea ccyoakl easp tkingoew n is 4nhe trs hou after the sothoing expssreing matany people say tyhe feel. just ais dbeefliha tt these petyfs o shootingson ctienu to enhapp aannd cpe hapn anywrehe. th mniore ng whave team covera ogeef th tishoong , udinclin dglsetai ahebout t uecspn t ith iistinvesgaon

if we turn the clock back 10 years to 2008, there is a grand total of four lng terminal applications pending before the ferc. today there are 13, and they are larger and more complex and more expensive. and as you can imagine, the review process is not a simple one. and legal processes allow for ample stakeholder input into whether the approval should be granted or not. in addition to those 14 applications, six processes now underway, triggering reviews and so on. we are actively looking for creative new ways to embrace and the taxes increase workload , for example, we are using for nonproprietary acts -- aspects of the project and designs, we are using third-party contractors for some of that work. we are actively seeking to hire, tons of good people and we will hire them in a heart -- heartbeat. beyond that, we are also looking for processes we can streamline to >> a number of these are pending, and it is important we prioritize staff, so i hope you are making the important stuff prioritization with limited staff resources available, and i know that you are going to have applicatio

it wanted lower tariffs on ands, more purchases of lng u.s. duties. parties were interested in negotiating with a gun to their head. they didn't come to an agreement and that is why we face tariffs on a global basis. hadi: the reaction we have from some of the united states' most close allies have been swift. tariffs on u.s. goods, but also criticizing the rationale of using national security as being the worst-case scenario. the mexican economy minister said president trump is shooting himself in the foot. territory,gerous were you see retaliatory action coming from these close allies? the allies arek justified in doing exactly the right thing by imposing reciprocal restrictions on u.s. exports. clearly, accommodation will get you nowhere with this administration. i think they have to show they are ready to endure and inflict some political pain, hoping that leads to a correction in u.s. policy. i think they are doing the right thing here. what about the very credibility or role of the international crisis -- price system? we are seeing multiple atta

if you look at singapore lng prices, they were up 25% last year. mainstream that is controlled and by the producers, which is the situation in china, essentially never works. it was outlawed about 80 years ago in the u.s. you don't have that situation over there because people would naturally favor their own supply. if the road network was owned by trucking companies, they would favor their own trucks. they wouldn't favor the benefits of traffic as a whole. haidi: does this also mean that it resulted allocation for investment so it would be more efficient? reporter: i think that is the idea behind it. the idea is, look what china needs to do to see a huge growth in gas demand already, but the onely network, according to paper published last year, needs to triple in capacity by 2030 over where it is at the moment. that is a huge growth in demand. the trend owners don't have incentive to invest. the idea is you take these out of the hands of the upstream companies and then get outside shareholders to invest and bring upstream companies to a minority.

sugimoto, they had a culture whu cod be lng at adjourn. >> thank you. adjourned. >> shop & dine in the 49 promotes local businesses and challenges residents to do their shop & dine in the 49 with within the 49 square miles of san francisco by supporting local services within the neighborhood we help san francisco remain unique successful and vibrant so where will you shop & dine in the 49 my name is jim woods i'm the founder of woods beer company and the proprietor of woods copy k open 2 henry adams what makes unique is that we're reintegrated brooeg the beer and serving that cross the table people are sitting next to the xurpz drinking alongside we're having a lot of ingredient that get there's a lot to do the district of retail shop having that really close connection things consumer allows us to we decided to come to treasure island because we saw it as an amazing opportunity can't be beat the views and real estate that great county starting to develop on treasure island like minded business owners with last week products and want to get on the groun

abortion lng. -- language. texas redistricting and ohio voter roll purge. but a swing vote on a lot of major cases. is the fear on the left justified this means that roe v. wade is in jeopardy it one of the 25 gets through the process? >> the left has been using the roe v. wade scare tactic since 1982 when sandra day o'connor was elected. we know about john roberts as we knew about justice kennedy when he was nominated. i think this is a scare tactic. this needs to be about the constitution more broadly. kennedy has been a very important and propelling jurisprudence in lots of areas of the law. >> bret: let's listen to justice kennedy about the constitution. >> it is appropriate to recognize an essential truth. that is, that the constitution of the united states is the single fact, the single reality, the single idea. the singlele moral principle that sets the united states apart from other nations. i shall honor the constitution. >> bret: justice kennedy made this decision. went to talk to president trump. do you know anything about those conversations? >>

we're going to future our shoulders to the task and try to get as much american lng into the europeanmunity as we can. >> you were kind enough, sir, to spends a couple day, on two day russian meetings you had indicated you thought if there was some kind of supply gap in the oil mark the saudis would be able produce more oil, maybe even more than they had agreed upon at that opec meeting a couple days ago in vienna. did you also have a similar conversation, sir, with the russians, if there is a supply shock? because we seen the price of oil jump, as you know, sir, pretty significantly in the last couple days that the russians would be able to fill own holes in the global supply for any oil? >> yeah. i think all of the above are true from the standpoint of a supply standpoint. there is just a really substantial demand and some disruptions around the world, when you think about what's going on in venezuela, angola, libya, obviously iran with the jcpoa. all of those disruptions at a time that demands has really gone up. we got the summer driving season right here in the united states, so

imports was lng, natural gas, saying they would tax the pipelines but no u.s.peline to china. was that a mistake or is that really speaking to the trend that you noticed in your statistical report? it's the strongest growth from them that we have seen in seven or eight years. china's increase of imports accounted for half of global increase. china overtook korea to be the world's second-largest import market, second only to japan. china's demand for gas is likely to grow substantially over the next decade. some of that will come through some pipelines from central asia. the vast majority will come through lng imports. u.s. is one of the world's major exporters. alix: the cheapest. don't want to add on that tax. great to see you, thank you for , withng by, spencer dale the 2018 statistical review. julia? scarlet: peak energy, don't know, don't care, love it. ,e sure to catch alex's show commodities edge, every thursdays at 1 p.m. eastern time and if you should choose to, you can check out gtb good go on the bloomberg, with all the charts that you see here on blo

but i think it's important that, e're lng to these emerging technologies and seeing how they com comply with our principles, it's important we keep pressure on then. i understand the report did address those other things. i want to highlight that as a intle bit concerning. on c with the other metrics that you have, i think you'll get what you need. i just had a little concern with that. so that's my piece. thank you. >> that's a good point, director. ank you very much. yes, director ramos. >> thank you, madam chair and thank you to the ta staff for this incredible report. i've been anticipating it for a while, and i was very pleased with what you all produced. it's quite a bunch of hoprmation. s goi ruired reading for anybody that's working in transportation today. it really is a nice comprehensive bunch of information. it's very -- it's so comprehensive, there's very little that i can add. i think that speaks to all the brilliant minds that went in the review and the peer review and everybody else that looked at this. it looks really -- you guys covered your bases, which i applaud. the

we're lng forward to a red wave. >> confident you'll be the next governorf nevada?>> we feel good about this race. >> close polls at 7:00 p.m. western time. we expect to cal the republican primary race almost immediately. likely to be a good bit longer before we can call the tight democratic race fo governor. dana? >> sandra: thanks, jonathan. for more, i'm joined by chris stirewalt and editor of half time report. chris, while jonathan was talking,nator chuck schumer came to the podium. they had the policy lunch, the democrats and republicans separately. when chuck schumer came out, he talked about north korea and then he immediately pivoted to healthcare. what does that tell you about how the democrats are approaching these mid-terms? >> there's been disagreement between the two houses, between branches of the democratic party and what the appropriate and most useful focus for democrats is in 2018. chuck schumer is not ambiguous on the question. with a lot of polling data that healthcare works for democrats. who had been a negative for them under obama now in the r

oojust lng at satellite picture right now, you saw the high clouds there seaming across on our toweran just see them. see tm comingown and then they fade oujust a little bi but we're mostly sunny today. more clouds back out to the west of us. we do not nee w toorry about rain today. maybe tomorrow. maybe there's a little bit of a thunderstorm activity torrow, tomorrow afternoon, all right, bhe here's t deal on this weekend. 80's today. high pressure is just to the southf us. we're going to kind of get this southwesterom, southerly flow cg up, so that gets teeratures into the 80's. a lot of sunshine today. the high begins to shift off a little bitro tw and that does a couple of things. it will warm us up. it's going to bring back more humidity tomorrow. we're actually going to feel like we'e into the middl 90's when you'rebo talkingut the heat index, lower to miday 90's the w it's looking right now and there could bee of scattered showers oand thunderstorms into the afternoon and the evening. sunny and warm today, 88. ppy father's day tomorrow. temperature getsp to 93 degrees. again,

also with lng, liquid nitrogen gas, they need that as well. liz: we're at session highs right now.u're giving bulls good luck in the last couple section. what is one area you would avoid? >> great question, going back to my comment and mid-caps, go to multinationals look at with all the issues going on with g7, tariffs, geopolitical, that will be an issue that could impact mult at the nationals along currency issues. liz: good to see you, greg. greg fowl, five plan partners. [closing bell rings] we'll put them on the facebook page. melissa: turn around on wall street. stocks reversing earlier losses. the dow ending up 71 points to session highs, adding to its gains for the week, best in three months. s&p 500, nasdaq also ending the week in the green. i'm melissa francis. david: happy friday, to everybody, i'm david asman. glad you could join us this is "after the bell." more on big market movers. here is what else we're covering for you at this busy hour. president trump in the lion's den meeting with key leaders from g7 in canada. they are looking to directly challenge the preside

. >> some dmv offices will be open tomorrow, saturday to ease the lng lines brought on by people applyingor new licenses used at airport security checkpoints lid saturday from june 8:00 a.m. to 1:00 p.m. beginning in july the offices will be open the first and third saturdays of the month. driving tests will not be offered during the hours. in the bay area, concord, hayward, claimant avenue office in oklahoma, pleasanton he hadwood san jose processing center, santa clara and santa rosa offices will be open. >>> the alameda county fair is now open. and this morning you could say it was a bit of a stampede getting into the fair when the gates opened. >> it looked like the wild west through downtown pleasanton. matt keller shows us the second annual cattle drive. why so many people are pumped for this fair. >> reporter: sad up, the alameda county fair kicks off today. organizers say downtown pleasanton is known as a place with upscale shopping and restaurants. but one day a year the opening day cattle drive pays tribute to the area as wild west beginnings. 150 head of cattle wrangled up by c

all the other t lngs. ie the city. i love being around here. it's my home. it was pretty easy for me to want to stay. >> welcomed back to d.c. a fresh face welcomed to d.c. wizard firstound draft pick troy brown jr. just 18 years. old played college ball at the university of oregon for one year beforeeaving ear he's a guard and a forward and can be used in a variety of ways by the wizards. after being just 18 in the nba, well, that's not st.ring him one >> age has never really been a mine set for me. it's been more about playi basketball and figuring out a way to make things happen. it's never been a thing. i've never used age as an excuse. kind of hard to see it now. like i said before, i know i'm coming into the league with a lot of grown men and stuff like that. if there wasn't something i wasn't ready r, i wouldn't have taken to the step to the nba. >> certainly excited to see him grow. >>> the pressure is mounting for teams to advance to the knockout round that are halfway through the world cup. cristiano ronaldo and looking to advance to the knockout r

visibility that came up from 0-mile visibility but lookt culpeper, martinsburg, so some ofe the mor localyi lnglect, you're battling some fog early this morning. doesn't loin like ag here in the metro. fox futurecast i want to show you we've got a lot of sunshine today. and anything that does pop up shouldn't be in our area. that's probably just some mouiture, a fewlding clouds in the afternoon. we really are just quiet today t despite all ofhat heat. into tuesday which also starts out with sunine but once you get into the heat of the day, showers andhunderstorms look to pop up, someof these could have heavy rain associated with them. this is 4:30.of you see wide vari storms around so that's what we'll be tracking for tomorrow, but in the meantime it's a hot monday. hot and humid. 96 degrees, that's 1 degree shy of the recor. o 92 with afternoon 90 on wednesdays as we watch these temperares start to tail off. more storms on t wednesday. andn by thursday, first day ofi sum think it's nice we get a break,tl a lit less humid, 87. friday looksheood andn into the weekend we'll see a little bit more

conoco phillips provides that to you, and a significant presence on the gas side with lng in lask that's why the street likes the name so miuch. >> chart looks phenomenal. 72 is very minor resistance. doesn't look like it will have trouble getting above. not overbought yet at all. if you look over the last year, this is a stock that has really separated itself it's up 60% versus the xlp, which is its peers, up 30% the street is rewarding quality in this space, in the energy space, and conoco phillips has come to symbolize quality. >> all of the good analysis you gave us, those things can reverse quickly. the permian basin ottleneck a year from now will probably be solved by infrastructure spending i like this call what i'm really pointing out is the five names that were up there, you can buy them for different reasons. the one i particularly like is royal dutch shell because of the dividend with the dividend of about 5.2% on royal dutch, i don't have to worry about what happens to oil over the next month. i know i'm getting the dividend back i know there's economic growth over the next f

veteran and somebody who respects the freedoms of this country, you know we're about tolerance and lngple express themselves. >> there are restrictions on speech. >> and the nfl has their tohey what ty do. that's not what the president is playing at. he is call themons bitches. who is they that they're talking about? this is not uniting. he was supposed to be a uniter. you told me that. i naid .me. >> you're not easy. >> it's what is in them. >> do you believe this is the right move? say that they've wrong, say that they're not american. the president invited the on may 31, 80 plus members of the philadelphia eagles were showing up the eagles made the choice hered >>t think, i see it very, very differently. what the president is saying is that this is about the disrespect and the protesting. and theblem that you have is that those players, the ones who didn't come, the ones who wanted to come, none of them needle. >> he disinvited them. it is not his house. it's our house. he is supposed to represent tolerance. >> do you think if the president invited lebro and focus to come to the whi

the next step isaunc lng these requirements and you know, putting our money where our mouth is and see what happens. >> thank you so much for the presentation. i'm going to go to public comment first. do we have public comment? >> yes, kathy di luca and david pillpal and stephanie di luca. >> hello, my name is kathy i'm the policy and program director at walk san francisco. and i think that deanna is brilliant. i think that everything she put up on those slides captures what we see and hear in the community all the time. i was listening to what she was saying and i stopped and i just wrote deanna is brilliant. listen to her, fund her and expand this program. that's really all you need to know. except that i'm going to add a little bit more. i think that this outreach that this really deep outreach that deanna is creating for this agency is actually what can get us to vision zero by 2024. i think we're seeing delay after delay in projects and i think that engaging the community in a deeper way is going to get us there more quickly. and so i encourage you to double, triple, the amount of

eac news confirmed that cohen's legal team is lng the case. that move sparked specution he will cooperate with prosecutors, but sources close to the case say that cohen has not been interviewed yet. fbi agents seized millions of documents during raids on his home and office back in april. a federal judge gave cohen and his lawyers until friday to complete their review of materials. >>> sarah huckabee sanders is firing back at cbs this morning. the white house press secretary took to twitter responding to a report that says she is planning leaving her job. sanders says she found out about the report at her daughter's kindergarten event. tweeting, "i love my job, and i'm honored to work for potus." nbc newki is w to confirm multiple reports that sanders and deputy press secretary rod shaw have considered leaving their positions. no response yet from shaw. >>> 5:09 your time now. we turn to decision 201le. the republican party leaders are nervous cory stewart's primary victory here in virginia could cost them other races across the country. the g

will have to be to europe, which is the backstop, and south america and other places that need the lnggional differentials in the permian have been blown out. but you have a lot of supply, specifically a natural gas and not a lot of takeaway capacity. you don't have a ton of work going on in the permian, but are you reallocating rigs or cash? ourlance: we learned from igo for the experience, that you have to understand the optimum way to develop over time, and if you in the permian. require if it techniques and different technology and you first have to figure out how to optimize that, and we are in that mode of trying to optimize, but before you get into the mode of full-scale manufacturing, have to make sure you have that. we did not see it coming this quickly because the rigs have risen pretty quickly and productivity has come online pretty quickly, much higher than people were expecting. we are in that kind of mode today. transportation coming, but not for a couple of years. we're looking at how we reallocate capital. why would i drill internet headwind when i could reallocate capi

manement and blue skin called for a sweeping overhaul including southg companies, american utilities, lngll. pg&e growing about 4%, despite a report that blamed pg&e for fatal fires in the north last year. said the report is a significant reliability f fires. let's take a look at the government bond market, starting with the u.s. not a ton of action. the two-year yield inching up slightly to 10 year yield unchanged. of course all the action is later in the week. we have the headlines with the cpi, central bank stuff. i think we will see rate volatility later on, at least in the short-term. another wild move in the short on the italian debt market. a stunning move h a massive economy. this time it is a huge rally in short-term government bonds as the new finance minister strongly reiterating the new government's intention to stay in the euro. they have said this all along that they have no interest to pull italy out of the current union. they are saying it with a little more gusto now. julia: let's take a look at currency as well. some of the risk currencies like policy, kiwi, aussie, kiwi

get it by lng f the purple podcast iphone on your hemoscreen.ee our latest episode, subscribe or give us s we appreciate it. that does it for the show tonight. i be back at 60 p.m. eastern. "hardball" with chris matthews starts now. >> political football. let's play "hardball." good evening. i'm chr matthews. iluprk. in mosmerican cities it unites pe,he sunday football game. just four months ago, the philia eagles brought the city of brotherly love together with their underdog super bowl win over the patriots. but today, president trump again used football to sow division disinviting the eagles from plained white house celebration after learning only a tiny handful would attend. he

you're in el paso, lng a march to the nearby town of tornillo, where a new tent structure has been formeden there. what can you tell us about these kids? have they all been separated from their parents under this new practice or did any come here unaccompanied? >> what we're told by health and human services under whose custody they are kept, it's a mix of kids who made that 2,000-mile journey on their own, and kids who made that 2,000-mile journey with their parents. and at the moment that they finally thought they had reached safety, refuge, were going to petition for asylum, they were taken from their parents and are now in tornillo with no idea when or if they will see their mothers or their fathers on this father's day again. >> president trump has been repeated lying, blaming this on democrats. its obviously based on this new practice by attorney general jeff sessions. take a listen to sessions defending this zero tolerance practice which has resulted in hundreds if not thousands of children being separated from their parents since april. >> if people don't want to be separated from

for example, buying more lng from the u.s. instead of supporting a pipeline from vladimir putin out of russia or slashing tariffs on u.s. car imports from the 10% level where they are now? did you see any of that happening in the background? axel: yes, i believe so. in order to come into the discussion with the u.s., but the discussion needs to take place on grounds of partnership and not putting a pistol on the other ones breast. matt: i can understand that, but the only other way we currently have to deal with disputes is going to wto, and you can splendor -- plan on spending a decade there to get something changed. isn't this the way these negotiations have to work now if you want to do anything efficiently or expediently? of course, the european union has to go to the wto. at the same time, negotiations or discussions need to continue to find solutions, because we are still talking about the root cause of the situation. capacityeel excess driven by chinese overproduction. that is the root cause and we need to continue to d

the #metoo thing should have happened a long time ago, a lng time ago. >> woodruff: sensitive question, president clinton. your clappings are monica lewinsky, you -- your relationship with monica lewinsky you said your impeachment was wrong and said you left office $16 million in debt. >> that was ththleast of it. price i paid mostly was the pain i caused to my wife and daughter and feeling terrible about the exposure she d and the way i let me staff down, thi t. it was awful. but i had to live with this h. i always prided myself on treating ople right and trying to help lift people up, and i've spee nt st however many years it's been since i have been gone m trying tdel that and make a fference and living with what happened, yeah. >> woodruff: you paid a price. ro you think ms. lewinsky paid a higher price, a hder price? >> oh, i don't know. i think she paid quite a price. the price that i used to worry about all the time for her, and i was glad to see when she wen back to school and made another career, had a evision show, gave a really compelling ted talk, you ow, did other things,

later, the head of personal investing at lng joins the european open seen.rg. ♪ anna: good morning everybody. it is 7:19 here in london. a: 19 in paris or berlin. 8:19 in paris or berlin. inhave seen a flat session the asian equity market. let's get bloomberg business flash with juliette saly. juliette: uber has won a 15 market based very licensed to operate in london after convincing a court it has shaken off its gung ho attitude of the past. shejudge criticized what called the previous managements desire to grow the business, come what may. the 15 month reprieve is less than the 18 month approval they originally sought. morale has steady at deutsche bank. the firm's annual internal survey shows that 57% of employees are committed to the lender. that is unchanged from last year, which followed years of decline. staff sentiment has been tested by three straight annual losses in a series of management changes. car prices are weighing on the shares of rental car giants. thatsts have cautions second hand cars coming off of lease will hunter mahan -- undermine t

we've got bills on the floor to increase the amount of lng. this is something we sfeel very critical to send down to the western hemisphere, to the caribbean basin and have it as an alternative to number two diesel coming out of venezuela. mr. chairman, i am over my time and i yield back. i appreciate it. but that's what we're working on. thank you. >> thank you very much. we're joined by two more members from new york. they were late watching reruns of the mets and the yankees. i understand their priorities. but right now i'm going to recognize the gentleman from ew york. >> thank you, chairman. the the world looks different from up here. >> i'm usually down there. the southern part of the emisphere. but thank you for what you have contributed to this debate. i also want to ask so many questions about china and then the secretary of state was here last week and i told them they're eating our candy in latin america and the caribbean. there's some vacuum of leadership there, and of course china has come in and you have begun to see countries br

lng. clean.right at the cusp of, i think, a real boom in that as well you'd agree with that, i guess >> oh, absolutely. the demand has far surpassed the supply so we're in a good spot. the u.s. is in a good position thanks for having me on this morning. >> you're very welcome thank you. >>> okay we want to thank our guest host eric cantor from moelis and company and former republican house majority leader. thank you. >> great to be here. >> any great last words to leave us with? >> great to be here. i want to compliment you on the robust discussion on this show which is always great to be part of it. and i'm a steady observer. >> you know, you will see both sides illustrated here i've watched some other cable shows. i don't -- it's unbelievable what i see >> but that's why i'm saying it is -- i appreciate and thank you for the presentation of both sides. >> you're welcome. thank you. >> thank you for joining us, eric great to see you >>> when we come back this morning, we're going to talk about a

is one of the two top exporters of lng in the world which is something that was not imaginable >> what'sude market here as looking at opec >> the market sort of had to figure out what was actually agreed upon. but i think becky was saying before we went on, those exporters -- the key exporters were looking at that key number of $85 that was likely in the summer they realized there were going to be a lot of problems with that including here in the united states said these prices were causing us great pain. so these countries, saudi arabia, russia, united arab emirates, kuwait there's still big risk out there. one is how fast venezuela goes down second is are these sanctions on iran going to be put in place more quickly if they do, they're going to take a lot of oil out of the market then you think things like an accident in canada so the market is still tight, but the decision was made that opec is to basically get a million barrels a day roughly into the market beyond what was there before and kind of -- and let me just say, what it also means is the period of the oil collapse is well be

lng. .hey had a shortage the u.s. is part of the mixed. i think it is going the competitive. of our market for the u.s. will be asia, not europe because russian gas is going to be competitive. people are responding to it. russia, we heard has said they have changed their policy and strategy they want to be a player. mark: have you been surprised about the relationship, clearly relationship toelationship become further entrenched. >> i think that is a good point. people were skeptic all at the beginning. it seems to have grown into oilthing that goes beyond prices and other links that are notable. the crown prince went to the soccer game with president putin. for rush this is an important relationship. , think the saudi's look at it russia can talk to iran. it has become a larger thanlitical relationship just about trying to stabilize the oil price. time for the bloomberg business flash. the king ofica is the municipal bond underwriting business. handled nearly a fifth of all state and local government bond deals. bank of america managed long-term you minute -- municipal debt

. >> we leave lng and energy out war, because for us, it is important that people can get access to cleanet -- gases the cleanest energy we have available to mankind and the fault -- in the fossil fuel agreement. >> what opportunity does that create? my advice would be to leave it out. it would make us more competitive in areas of it would lessu.s. let -- competitive. we think the demand growth in the world needs everyone to be part of the energy of x. qatar is a largest energy supplier today. largelia is also quite and growing. we have announced we are going to grow our energy business from 70 million to 100 million very soon. there is a big growth. we are also investing in the u.s. to have additional energy that comes out of the u.s. alix: and aggressive growth plans to be sure. they said the u.s. could become the biggest supplier if their projects come online. do you have to, produce more, do you have to discount your elegy? do you have to get more price competitive in asia? saad: if you look at the growth around the world, and the requirement for the cleanest fossil fuels around the w

time, this gas conference is in america in more than 30 years, goes to show our growing dominance in lnget's focus on the other hydrocarbon, oil to your point, some big headlines crossing earlier today that apparently the trump administration would like all of our allies to stop buying iranian oil. obviously, part of the sanctions to punish that country well, energy secretary rick perry was here indeed and and we got a few moments with him as he was going literally from one meeting to another and he said he won't comment on the iran news but he said he did believe if there was any kind of hole in the market, remember iran exports about $50 billion worth of crude oil a year, about 2.6 million barrels per day coming out of of iran to their trading partners and if that comes off the market and there's a gap, he was confident that the u.s. and maybe saudi arabia or other opec partners would be able to meet that need the market clearly did not believe it you can see oil prices up about 3% and this is coming off the fact that we just added effectively a gross 1 million barrels of oil a day led

from chinese officials is the preparation to import more goods, whether energy or role -- or coal or lngtalking to the alaska governor, or reducing tariffs and the whole range of imported products.food these are what china has been pursuing while it has been avoiding tackling industrial policy. it said it would retaliate with its own tariffs should the trump administration impose more than $50 billion on the goods. the ball shifts into the u.s. court, and we have to see what comes out of washington and to see how the chinese response. tom mackenzie, our china correspondent. let's find out more on this and get analysis. we have a global head of the strategy at nomura. how closely are you watching this, and -- it keeps changing, the goal posts, don't they? >> it is very important because clearly it can have a cascading effect if you have a tit-for-tat policy that comes through. the damage to global growth, whether it is u.s. or china or foreign value added through china because these will all be affected. this is a hot topic we need to continue to focus on. rishaad: what is the end goal? t

the big question becomes china the biggest lng buyer in the world, everyone wants to sell to them. contracts. if there's a trade dispute why would a chinese company confirming long-term contract? that's a cousin that question