joined by michael wirth of chevron.ing some time >> pleasure. >> you have american contractors in iraq, they have removed from that country after the air strike do you anticipate they will go back and how much, if at all, have your operations in iraq been impacted? >> well, we don't have a big operation in iraq. we're up north in the kurdish region, and we take security measures on an ongoing basis as we see risks evolve around the world, so this is a relatively normal move for us to move some people to do their work from a different location we have good people on the ground still in iraq, iraqis and at some point as the situation clarifies itself and we view the security position as proper, we'll see people return. >> but you're still operating, still producing in iraq, just the americans have pulled out? >> yes, we're actually developing a discovery so it's not in production yet so it's early phase development work >> are you surprised the price of oil did not jump more than it did? >> not really. you know, we saw th

i asked michael wirth, for every one dollar that the price goes up, how far does that add to your cash flow $450 million a year. something like that. i mean, the numbers for just an incremental dollar are stagger does this then at 68 on brent, 63 wti, just really add to a story that has been tough the last few years in. >> yeah, i think that there are a number of higher quality producers like an eog and chevron where we think that their incremental cash flows can be very significant. eog is one stock that we like. they have super levered to the higher oil prices. and one reason that we like them, you don't have to believe in oil prices of today we think that even in a 60 to 65 dollar type brent oil world, they can get mid teens production growth, double digit corporate returns and still have low to mid single digit free cash flow yields >> and so two names that you have on your conviction buy list and that is eog and pioneer natural resources. which is interesting because those are the two companies that i hear often people say thos e e are the best management teams in the business and

word >> reminder we will be in california next friday at the at&t pebble beach pro-am including michael wirth i am running to defeat donald trump. in 2016 i warned that donald trump was a dangerous demagogue, and when the republican congress wouldn't hold him accountable, i went to work helping run winning campaigns in twenty-one house seats. it's time for the senate to act and remove trump from office, and if they won't do their jobs, this november you and i will. i'm mike bloomberg and i approve this message. >>> it is going to be super bowl sunday, apologies to the chiefs fans since that was my pick. that's not why no, no, it might be better for your portfolio if the 49ers win, according to ryan detrick from lpl financial. stocks do well when the 49ers win, the third best of any team for winning, in fact >> third best return how many times have they won it's been 20 years since they were in the super bowl it's been 50 years since kansas city was in. >> since what, the 49ers >> i think >> no. >> i thought, when was the last time they were in? >> no, it wasn't that long ago, the kaepernick e

also, programming note, chevron's ceo michael wirth is going to join the gang at 9:00 a.m.hts on oil prices and the mideast tensions squawk returns right after this. ♪ where others see chaos, we see patterns. ♪ connections. relationships. ♪ when you use location technology, you can see where things happen, before they happen. ♪ with esri location technology, you can see what others can't. ♪ the unparalleled landscape of park city, or the famed peaks of whistler, you've faced the hassle of lugging your gear through the airport. with ship skis, you're just a few clicks away from having your skis, snowboard and luggage shipped from your doorstep to your destination. with unrivaled pricing, real time tracking ship skis delivers, hassle free. ship ahead and go catch those first tracks on fresh snow. ship skis. your skis. delivered. >>> elon musk busting a move. >> a squawk box returns. their top ten surprises from 2020 the final hour of squawk box begins right now. >>> good morning and welcome to squawk box on cnbc live from times square i'm joe kernan along with becky quick and

in the middle east and volatility in prices joining us to talk about all of this is chevron ceo michael wirth> does it feel like it's been a hostile crowd given the sustainability, given the clean energy, all the talk that goes on here and what's been taking place in the united states do you feel like you're under siege at times >> i wouldn't say hostile, but there's kind of a pessimism in a lot of it that, frankly, i'm a little disappointed in you look and by any objective measure, the state of human well-being today is the greatest it's ever been infant mortality, life expectation, poverty, health, et cetera and so the state of human being is the best it's ever been you look at markets and innovation and they're the human energy that drives human progress and so i am an optimist about these things we need -- we need prosperity in order to address the big -- and there's challenges out there. >> you're in a safe space here you know, on this set. i know andrew is here, but you're in a safe space because i've got your back on this. >> let me ask you. you have larry fink writing his larry last w