. >> there is a reason you don't change horses midstream. ride it out hill. we have to stick to this one. >> but you can't stick to something that is not working. she had the h for hillary with the arrow, it looks like a hospital sign, right? literally nothing is working for her. the issues are i'd logical and practical. no slogan in the world will fix that. >> i can't i can't remember any slogan. >> it was the second term and an ad. >> and it worked. >> what did he have the first term when he won? >> there is someone in the race besides hillary. moving on. donald trump is starting to attack hillary over her husband's personal indiscretions. have there been any of those? ii can't recall. the reclusive billionaire gently reminded everyone of bill clinton's sordid past. captioned is hillary protecting women? it features audio from kathleen willy and juanita broderick. >> no woman should be subjected to. it it was an assault. >> i tried to pull away from him. >> [laughing]. >> wow. >> i mean it is cocky. >> they say hillary plans to ignore trump's deeply persona

we do expect to see a lot of natural gas upstream and midstream acquisition activity in the next sixths. they: do you think direction of m&a's now towards happening between companies that don't have so much overlap? >> i think that is what regulators will look at. there's a concern over antitrust, obviously. a deal thatogether makes sense for shareholders and investors and you also have good advice on the economic ground about competition, we don't think a couple of transactions forecasts ad really lot of difficulties for the rest of the industry. it still should be healthy and oftainly look at discussions m&a across the energy space. shery: thank you for your insight. still ahead, airline stocks are certainly not soaring this year with the s&p 500 airline index down about 15%. oil to the shortage of security screeners, we will look at when the industry may see a turnaround. look at airline stocks today also urging across the board. all surging across the board. ♪ shery: welcome back. time for the bloomberg business flash, a look at some of the top stories in the news right now. buye

the better producers will continue to do well at that level. $50he midstream space, oil, six dollar oile bona fide that's six dollar oil oil is50 oil, $60 nirvana. i don't think you could say it is enough to bring the marginal producers and, but enough to bring the better show producers and. .- shale producers in you will see them begin to lay out some hedges at $55. demand, both of which we are really seeing those trends firmly in place and then inventory. we are coming up on driving season, numbers from last week look like we have an early memorial day, which is great. down, it will be great for everybody. jon: we had supply disruptions across the world. do you think there might be a misread of what's happening here? that's supply disruptions are not going to go away. may was big, 4.3 billion barrels. control, not have the political consensus or technological capabilities to the spare capacity they are saying. vonnie: $50 a barrel is far from capital expenditures. on the upstream, producer side of the business, we've seen back-to-back years were they've x. to cut cap they have to have

regulatory commission has extended a permit allowing a subsidiary of the texas-based company crestwood midstream another two years to expand its natural gas storage facility in the salt caverns. opponents of the plan say seneca lake provides drinking water to 100,000 people in the heart of new york's scenic wine country. more than 500 protesters have been arrested protesting the gas storage plans, which they say could lead to a disastrous leak and threaten public health. in new york city monday, more than 100 people rallied outside the shareholder's meeting of conedison to protest the utility's plan to jointly own the gas storage facility. seneca county farmer jan quarles invoked the recent methane leak in california, where 100,000 tons of methane leaked from an underground storage site. >> shareholders and ratepayers really want this risk? >> no! and porterane leak ranch, california, was a complete disaster. if forced 5000 people to evacuate, and socalgas is being sued for over $2 billion. new york cannot afford that. amy: the intercept news site has begun releasing a trove of internal newslett

the fact they sent him midstream means the fbi seriously needs to interview him and seriously believese can tell them something. second, if there is evidence that he hacked in, and he got into mrs. clinton's email and if that evidence is credible and fbi decides it's usable, it will help their prosecution of mrs. clinton, should there be one, but it is not sitea to vital to it. because the crime of espionage consists of removing state secrets from a secured location to a non-secured location. whether the enemy sees it or whether a strange person sees it or not is irrelevant. but if she was hacked into and a, that helps the jury understand the case better, and b it, would increase the level of punishment for mrs. clinton should she be indicted, tried and convicted. deirdre: judge, you heard hillary clinton say, she doesn't see it as that big of a deal. obviously she is managing the comments and occurrence as best as possible but will this affect the fbi's investigation? >> it depends on whether or not what he tells them is credible. in the interview that catherine received from him yest

and so unless he's going to say that someone changed the rules midstream, he understood the rules. if you don't like the rules, go to the referee. the referee makes the call, you're done. i have no problems with an aggressive campaign. but play by the rules. and so long as everyone plays by the rules, let's be as active because democracy doesn't want us to be quiet and be couch potatoes. i love the fact bernie sanders is animating a lot of people who otherwise might not have voted to get out. we just have to make sure we keep that excitement going until november with secretary clinton as our nominee. >> thanks so much, congressman becerra. >>> and coming up shortly, senator jeff merkley. you're watching "andrea mitchell reports." real is touching a ray. amazing is moving like one. real is making new friends. amazing is getting this close. real is an animal rescue. amazing is over twenty-seven thousand of them. there is only one place where real and amazing live. seaworld. real. amazing hi mom! hi! every mom is a coach... an aist... sometimes ev a zoologist. every mom is a working m

if we change rules in midstream, future bonds, future debt and the interest that goes with that will have to be factored in, will have to be built in. and what that means is those that are doing the rite thight those being good citizens and paying their debts and they have good, solid fiscal and economic policies, they will be punished for the acts of others because they will have to pay higher rates and that will over the long term increase the risk for many others. i urge my colleagues to adopt my amendment. >> is this any other discussion on this amendment? >> mr. chairman? as a former attorney general of puerto rico, i have always advocated for strict compliance with our constitution. in fact, when this crisis began and when the government of puerto rico approved a local bankruptcy law, this was back in june 2014, the first thing i did was to introduce legislation giving puerto rico access to chapter 9 of the bankruptcy code. i was simply asking congress to treat puerto rico as a state for purposes of bankruptcy. that bill was a signed to the judiciary committee. it didn't get tr

reason for their being and very much what we saw on the transcripts was if something should happen midstreamnd the candidate that isis the front runner in the primaries and caucuses looks like they cannot win, maybe they have a scandal, we want to be able to correct that. so sanders is saying, well, something unexpected happened. donald trump is the nominee of the republican party. the democrats need to react to that, and i am pulling better than hillary clinton against donald trump thank you states. he was talking about georgia and that clip, but that is happening in ohio, which is an important state, and so that is his gaze to the superdelegates, well, if you have this weird system where you can trump the popular vote, isn't this the time to use it? amy: and the move to reform the superdelegate system? do you see this changing? >> no --that is a great question right now. sanders is no longer talking about that because he is trying to court the superdelegates. i don't think it is off the table at all. we had an op-ed run along with our cover story by larry cohen, the former president of the

at one point when i was midstream, i had a book that was three times length that it ended up. and, you know, it did allow me a certain luxury in being able to really find those stories that i thought were most indicative of her as a person and really illuminated her story. and she lived til she was in her mid 80s, so it covered an enormous swath of not only journalism, but contemporary american history and a lot of changes for women in the business. so trying to boil it all down to its essential elements was one of the real challenges in writing it. >> thank you. let's take a question or two from the audience. we've got a mic here that can come to you if you want to raise your hand. of course it's going to be all the way across the way. >> sorry if i missed this, but i'm curious, john norris, who led you to write about a female journalist. >> yeah. you know -- >> [inaudible] >> i had the good pleasure to know mary when she was alive. we weren't best friends, but i went to a couple of her social gatherings. they were a total hoot. people drank too much, and it was a mix of sena

i see a company where the midstream business is cheap.ld be perfectly happy to say that shell would make a decent amount. i would avoid coal. any of those difficult energies. tom: within this is the use of cash. help me with an idea that came up yesterday which is that the culture of corporations is different. do you gy the idea -- do you buy the idea that there is a structural change in how corporate offices manage cash? james: i worry that a large number of corporate officers are incentivized to find the easiest route to drive up share costs. by buying back shares. i think that is pernicious. unless there is a very clear point in terms of improving balance sheet efficiency as part of a long-term business plan. separating the sheep and the goats is tricky and does require a lot of thought. tom: help me with the lethargy that is out there. we know trading's slow. the european banks as well. where will the cathartic event come from? is it going to be directionally a clearing of the markets and then up we go, or is it a catharsis that will

i think we need to look at this closely because you're changing a law midstream something i don't like to the projects are brought forward and one set of laws whether or not there should have been more affordability with the height and bulk in determining the density you know that was was the case when the projects were planned and designed so we have a situation in eastern neighborhoods that does more carefully what they were passed we had a series of tiers of increased affordability and relationship to how much we felt was given in various parts of eastern neighborhoods so we can range from 14 up to 18 we believe in something instances and look at that more graduated situation and the same thing with the grandfathering situation i mean, i think it looks like the staff recommendation to grandfathering is built in up to the 50 percent upgrade in which case no grandfathering all-or-nothing type of situation again i don't think that is the way to do if it you're going to allow the grandfathering blow 50 percent of slightly increases to citywide then probably for a large project you'll ha

>> this is consistent with one of her defenses that the rules were changed midstream.at? >> here's what she said. i didn't know that many of these were confidential secret or top secret until after i sent or received them. they were classified afterward. that defies an oath she took her first day in office which said i have an obligation to recognize a secret when i see on whether it's marked confidential, top-secret or not. there were so many in that category . that contain state secrets.00 of those, 20 contained top-secret. of those, four were so secret that the fbi agents investigating her lacked the clearance to examine them. bill: you think the polling suggests this is a safe zone for her and so now you got the analogy of getting a speeding ticket from a police officer.he's never used that before?right. >> marquise never called it a game before. >> the fbi watches and listens, right? negative for ms. clinton. this out of the mouth of her husband, not her mouth, mocking the seriousness of what the fbi is doing. there are two teams of fbi agents. when i say teams, i

you had bad numbers from retailers, midstream retailers. you need the consumer to start spending. >> i can't wait to hear what "k" is. >> khalidal-falih policies. eternal or endless. we hope that does not mean the oil supply. 9 or 10 million barrels of production. i have heard from knowledgeable sources, they intend to take it up to 13 million barrels a day, putting downward pressure on oil prices, which we hope comes back. another "r" is real estate and investment trust. they have been on the tear. they are about to have their own subindex for the s&p. they are going to be a separate sector. money has been pouring in there from the index funds under weight because of a financial basket. now they have to pull it apart and make it a real estate investment. if they are going to buy, they can for yield. selectivity is the key. i'm exhausted from talking. >> there are a lot of letters in there you fit in. we enjoy the spark. she has a column on cnbc.com. >> i can think of another "k" to throw in there. >> that would be -- >> thank you, david. >

but the second bad thing that happened was the democratic party in and a half changed the rules midstream. they disqualified over 50 delegates, and rightfully, people were very upset about that. even good people were out there booing and yelling. >> actually, the fight, just to be clear, it was over two delegates. >> exactly. >> two. two. >> i mean, i -- if i can chime in here -- >> it cost 50 delegates for bernie sanders. so yeah, the outcome is two delegates, but it is a rigged system. when people feel like they are part of a rigged system, they get up set and angry. that's the difference between losing. losing, you're disappointed, sad. you get angry when the system is rigged against you. >> charles, how are these supporters for bernie sanders different from the supporters of donald trump that everybody criticizes, because they also think that the system is rigged, and they are accused of violence at trump rallies? how is it different? >> well, there is a very specific difference. first of all, no one has been arrested, no bernie sanders supporter has been arrested for assaulting anyon

you're telling the bond market you, as a member of congress, are fine with changing the rules in midstream. that is dangerous. but, let's also be clear, this is on bondholders only. the senior citizen in louisiana who financed his or her retirement with puerto rico bonds is under this day, but the union worker on a puerto rico government pension is not. that is what i am offering an amendment to strike section 405, the stay on lawsuit from bondholders. congress is not exercising due diligence on it passes legislation very likely to be ruled unconstitutional. we should carefully consider the constitutionality of a bill before we pass it, and exercise restraint when the bill runs afoul of constitutional principles for the frankly, i am surprised section 405, which provides for an automatic stay survived this long. even before the first to draft was released, there seem to be a recognition by this committee that this section had serious constitutional questions, and needed to be tromped. in fact, it seems only that the only reason this provision survived as the democrats insisted it remain. a

are telling the bond market that you as a member of congress are fine with changing the rulesin midstreamthat is dangerous. let's also be clear, this state is on bondholders only. in other words, the senior citizen in louisiana who financed his or her retirement with puerto rico bonds is under the stay of the union worker on a puerto rico governmentpension is not . that's why i'm offering an amendment to strike section 405, the stay on lawsuit from bondholders. in my mind, congress is not exercising due diligence when it passes legislation that is likely to be ruled unconstitutional. we should carefully consider the constitutionality of the bill before we pass it and exercise restraint when the bill runs afoul of constitutional principles. frankly, i'm surprised section 405 which provides for an automatic stay upon enactment survived this long. even before the first draft of pro-mesa was released, there seemed to be a recognition by this committee that this section and serious constitutional questions and needed to be dropped. in fact, it seems that the only reason the provision survived

also we are seeing a fair amount of distress in the debt market midstream. downstream is fine.uff built in the last five years. any of them are almost empty. david: so we have that 500 number out there as a possible, how far are we toward that number so far? robert: we are in the bottom of the first inning really. i think generally in terms of bnp companies, there have been about 70 bankruptcies so far. only 15 in the first quarter. we have the redetermination in april and a lot of stuff going therepeople drawing down lines before the redetermination. there is plenty of distress. the main reason, everyone says why now? there was a lot of production coverage in terms of their derivative positions. .hat has really worked down i do not know how people count the stuff but less than a third of production is covered. and they do not have hedges so they have to deal with the market. there is the psychological factor. carol: you are out and about meeting with individuals. robert: there was sort of a psychological difference. it is not as if it is the end of the world if you have to fil

i think we need to look at this closely because you're changing a law midstream something i don't like to the projects are brought forward and one set of laws whether or not there should have been more affordability with the height and bulk in determining the density you know that was was the case when the projects were planned and designed so we have a situation in eastern neighborhoods that does more carefully what they were passed we had a series of tiers of increased affordability and relationship to how much we felt was given in various parts of eastern neighborhoods so we can range from 14 up to 18 we believe in something instances and look at that more graduated situation and the same thing with the grandfathering situation i mean, i think it looks like the staff recommendation to grandfathering is built in up to the 50 percent upgrade in which case no grandfathering all-or-nothing type of situation again i don't think that is the way to do if it you're going to allow the grandfathering blow 50 percent of slightly increases to citywide then probably for a large project you'll ha

i think we need to look at this closely because you're changing a law midstream something i don't like to the projects are brought forward and one set of laws whether or not there should have been more affordability with the height and bulk in determining the density you know that was was the case when the projects were planned and designed so we have a situation in eastern neighborhoods that does more carefully what they were passed we had a series of tiers of increased affordability and relationship to how much we felt was given in various parts of eastern neighborhoods so we can range from 14 up to 18 we believe in something instances and look at that more graduated situation and the same thing with the grandfathering situation i mean, i think it looks like the staff recommendation to grandfathering is built in up to the 50 percent upgrade in which case no grandfathering all-or-nothing type of situation again i don't think that is the way to do if it you're going to allow the grandfathering blow 50 percent of slightly increases to citywide then probably for a large project you'll ha