if the mainstream line -- midstream.stream line was up there have been structural issues plaguing the space. these are companies that are not reliant, they are a fee-for-service business. they move the hydrocarbons. less than a $10 billion industry today and it will be $100 billion. we need all the infrastructure. david: there is a bottleneck in trying to get oil, particularly shale, to the places it needs to go. what is the cause of that? is it permitting and well it correct? libby: it is not permitting. that can be part of it, but midstream companies do not build a pipeline or other infrastructure until they have a contract in place to give them the economic returns they expect from the project. david: so canada has to buy a pipeline? libby: absolutely. david: there is a market failure. are a midstream company, unless the producer signs a contract you will not put a shovel in the ground. it is not, build it and they will,. it is they will, and then build it -- they will come and then build it. they are reticent to long

party prefer a more aggressive candidate, but, as the dutch say, "it's not wise to change horses midstreamhorse has no intention of giving up. >> very few people are giving lincoln much of a shot of being re-elected. even members of his own party, the republican party, lining up against him and lincoln is convinced that if something doesn't change pretty quick, he's going to lose that election to a peace democrat. >> so this becomes a pivotal election in the middle of this pivotal war. had a democrat won, had lincoln been ejected from office,there n a compromise proposed to the south. inevitably, it would have meant protections of slavery then built into the constitution. we would have gone decades before slaves were finally emancipated in the united states. >> to achieve political success, lincoln needs decisive victories from his armies. after years of frustration with his commanders, the president may have found a general who can defeat the confederate army -- ulysses s. grant. >> retreat! retreat! >> grant's victory at vicksburg divided the confederacy along the mississippi river, and

the challenge for the midstream industry, of course, is to match up to that supply growth and oftentimes's a disconnect or a lag and we're seeing that in the permian basin right now there's about 3.3 million barrels a day of oil being produced, but some estimates have that going to north of 5 million barrels a day, so the industry's building a significant number of new oil pipelines, same for gas, same for gas liquids, and in the interim, commodity markets tend to discount future prices because of the concern about adequate takeaway capacity and we're certainly seeing that in the permian today. having said that, producer net vacs are still well above break even economics so we continue to see strong supply growth and that's good and benefits the midstream companies as well. >> robert, great speaking with you. thanks for your time robert phillips, crestwood >>> all right, the big news dropping in the past few minutes, that is that disney has cancelled "roseanne" following her racist tweet about former obama adviser valerie jarrett. we'll talk about the fallout ahead. >>> and as we head to

we are going to continue to investigating, our investigation thus far is in midstream and the least butreporting additional information to the public. >> congressman adam schiff, thank you very much for joining us tieonight, sir. >> thank you, rachel. >> what you are talking about of the report that came out on friday night, i am going to have you back the next couple of days if i can to go through that stuff line by line. >> thank you. >> the special counsel team for the president -- it does include a whole bunch of question of the trump tower meeting. as we absorb this over the course of this hour, the new york times breaking the list of 49 questions apparently oppoposo the president's legal team. the one that sticks out to me, what knowledge did you, president trump, did you have of any outreach by your campaign including by paul manafort to russia of potential assistance to the campaign? what is that about? we'll be right back. stay with us. "i have antivirus, but my computer's still slow..." "i think it's time for the fixmestick." fixmestick is a plug-in virus removal device. it's

so it would be hard to change the process midstream. so i think that was a good amendment. so again, i think there's some very compelling arguments all the way around, but the most important thing for us to consider in the context that we're in today is that we have a rapidly changing city. people are being displaced at a rapid rate, and there's a lot of pressure on every single aspect of the housing market. so i want to thank everyone for coming out today on all sides, and i encourage them to continue the conversation. and thank you for presenting the information to help the conversation move forward. supervisor yee? >> supervisor yee: i guess i should modify my motion. >> supervisor safai: yeah. >> supervisor yee: to pass it out of committee. [inaudible] >> supervisor safai: sorry. go ahead, supervisor. >> supervisor yee: so i want to modify my motion to be that we pass this out with a positive recommendation out of committee to full board as a committee report. >> supervisor safai: okay. can we do that without objection? okay. without objection. thank you. [ gavel ]. >>

along so making a decision today to fund the reserve doesn't take away the opportunity to adjust midstream. >> i think what director harper was suggesting was the same thing but the flip side. so rather than us taking money from service to put into a reserve we can put the money in service and if we find in months or doing the next budget that it's not adequate we can adjust. by doing so now we are just parking that money in the tjpa bank account opposed to putting it into service to serve the new transit center. >> chair nuru: i guess chris cal clear with the caveat directors that every time we ask for money director reiskin, director harper says we don't have it in the budget. >> director reiskin: ask the rest of the board. >> chair nuru: if we put less than 25% in the budget and leave the rest of the amount of money without collecting it when we come to ask for it mid-year i assume they will guarantee that we will get that money? >> when cal train ends up here and high speed rail ends up here i guarantee you won't hear this. as long as they see that tran sipt has two-thirds of the opera

. >> in midstream, he said, i'm really here to talk about the mueller investigation, but it was preceded by all this stuff we just played for you. we'll replay some of the other stuff later, but brian, you see rudy giuliani is digging deep. but then when you listen to what the president's counselor, kellyanne conway, told cnn, and she was on other networks, too, she said this. >> i would also tell you that i'm happy to answer these questions, but i have limited visibility into what mayor giuliani is talking about, because politely he is the president's counsel. i'm the president's counselor. i will tell you, though, in speaking with the president just yesterday, when the president said no on air force i, he was talking about he didn't know when the payment occurred. it's a very fascinating exchange between him and katherine lucie of the ap, i believe, and he was saying he didn't know about when the payment occurred and he found out about it after the fact. >> while she's representing the president, still, is she also trying to protect herself by underscoring on the counselor of the it's

our investigation is in midstream, not the least bit complete and we'll be reporting additional informationessman adam schiff, top democrat on the intelligence committee, thank you, sir, what you're talking about in terms of the report that came out on friday night i'm going to have you back in the next couple days if i can to go through some of that stuff line by line. thank you, sir. >> thank you. >> what congressman schiff was saying about the questions for the special counsel team it does include a bunch of questions about the trump tower meeting. again as we absorbed this over the hour, the "new york times" breaking this list of 49 questions posed to the president's legal team the one that sticks out to me, what knowledge did you, president trump, have of any outreach by your campaign, including by paul manafort, to russia for potential assistance to the campaign? what is that about? we'll be right back. stay with us. at&t provides edge-to-edge intelligence, covering virtually every part of your manufacturing business. & so this won't happen. because you've made sure this sensor and th

it's positive on e&p firms as well as midstream companies. yvonne: oilyvonne: and china trade.ssie budget of course. saw some leaks leading up to this announcement later on today. andie: we have retail sales aussie stocks have reason for aheadsessions out of nine of the data, and we have household spending following on year in march. we are keeping an eye on to akeda. it's to make a firm offer according to u.k. regulations. sophie kamaruddin checking the markets for us. australia's government is expected to use tuesday's budget to win back disaffected voters before trade tensions between the u.s. and china could undermine the economy. usl allen in canberra joins from the lawns of parliament house. what are the specifics in this budget that we can expect today? paul: as sophie mentioned, a lot of the details trickle out in advance. one of the things we know is the government has had a revenue windfall. it was not really forecasting it a year ago. tax revenues are up. personal tax revenues are up. commodities prices have been a than the 12 months that were forecast. what it than

of course, you know, you are watching this midstream. people left cars there and book bags.n't get back there until late this afternoon to retrieve not only cars but anything else left outside the building. not necessarily inside the building. authorities will let people do that. students and teachers and anyone else who might have left things outside the school to retrieve the vehicles but not to go inside. with me is pennsylvania republican congressman lou on all of these developments. congressman thank you for taking the time. the governor would like to convene a summit of sorts. among the idea coming up to get a tighter reign on guns. they raised the age to 21 and i believe you have to be 21 to own them in texas. this shooter retrieved them from his father's gun safe. so it's a different issue. once again the gun issue is coming up. you are looking at his arraignment. your thoughts? >> you know it could be debated separately. that won't do anything. what we need to do is simple. we need to make sure the department of homeland security intervenes and uses it's authority i

there is a danger with congress, looking at documents midstream.paration of powers. the executive branch and the legislative branch are equal. the legislative branch can not interfere in a function unique to the executive branch like a criminal prosecution in the middle of the investigation no matter what kind of oversight. that is for the court if they have indictment and a jury to decide. >> we were mentioning earlier the different attention afforded the prominent lawyers. michael avenatti, of course stormy daniels lawyer, a lot of attention on the president's former lawyer. is that your sense? >> yeah, i agree with you on that, but michael cohen is a bona fide target of a criminal investigation on the basis of evidence obtained from suspicious activity. michael avenatti as far as we know is not a target. >> escaped in the area of media coverage. but does that fair to you? >> is seen to me that it is the media's duty, not the governments, to investigate his background because he has well transformed himself from army daniels. it seems to be that

to buy them right now, but there's a lot of operating leverage occurring in the, you know, in the midstream back half of the year looking at returning cash to shareholders, really in the sweet spot now, and the opinion is the integrated are the way to play it. >> michael santoli, your thoughts >> i think the sector has gone from being very much neglected and disliked earlier in the yea to chasing it in the short term. only way you get up six straight weeks and xlp up ten days in a row before today is people grabbing for it. so i think it can blossom into a trade with a different basis, earnings estimates go up, all the rest of it, but it's ripe for a pause, if nothing else, for a while. >> newmark, when are you selling? >> selling a little bit. >> selling a little bit. >> every week. selling a little every week, but overweight in it still what happens with energy is if you go back -- look at the 10-year chart on this stuff, you know, a huge runup in 2006 and 2007, and literally came off a cliff, popped up, and it's still versus over a 10-year period, it's still pretty low, so, in the scheme

dominion is one of the finest utilities but cannot lift its head because it did a midstream deal wow,uch this is a really important day and apple, it's zero sum apple wins everybody else loses >> that is true. in many ways, jim. >> congratulations to tim cook who still gets much too much derision by people who want to stop covering -- >> "mad money" tonight at 6:00 apple hanging on to 4% gain. don't go away. - i love my grandma. - anncr: as you grow older, your brain naturally begins to change which may cause trouble with recall. - learning from him is great... when i can keep up! - anncr: thankfully, prevagen helps your brain and improves memory. - dad's got all the answers. - anncr: prevagen is now the number-one-selling brain health supplement in drug stores nationwide. - she outsmarts me every single time. - checkmate! you wanna play again? - anncr: prevagen. healthier brain. better life. when it comes to travel, i sweat the details. late checkout... ...down-alternative pillows... ...and of course, price. tripadvisor helps you book a... ...hotel without breaking a sweat. because w

david: how easy do you think will be for some of these midstream operators to get these investments upmulti-your investments. if, you know, do you think these the stand and fall on spreads we are seeing at the moment, or do they disappear and the prospect for bringing more of that u.s. supply really -- do they disappear as well? i think it becomes kind of a logistical challenge to producers, to suppliers, to, you know, when you are presented with opportunities in the crimean basin to buy at a steep discount, how do you move that to market? i would argue what we are facing now is similar to what we saw in 2009, 2010, when the spread actuallyti and brent went to a high of $27 a barrel. you had a similar case, excess surplus production, limited infrastructure. but i'm confident as we move into the summer months, as you see refineries coming out of turn around, run levels increasing, you'll see some of this drawing down. you look at the inventories in crudes. last week, yes, oil did jump up 5.8 million barrels, but wti inventories, inventories in cushing dropped by 1.1 million. i think thi

is it the midstream? upstream?ssion, i think that's going to make oil go higher many i think we could see 100 on brent in the next year or two, going into june with opec. i think you could see some short-term trading patterns. i think long-term, oil's going higher based on the fundamentals. >> would it go higher -- >> there's not enough oil. there's shortages. >> would it go higher in the u.s.? is there a possibility for wti to cross brent? >> i don't think that would be the case. i think brent will stay ahead. but definitely oil's come from 40 to 70, as i said, and so technically from a trading perspective it wants to go higher. >> dagen: mark, good to see you. thank you for breaking it down for us. take care. have a great weekend. >> my pleasure. >> dagen: graduates at the u.s. naval academy getting a special message from the commander in chief. the commencement ceremony starts in a few hours. kevin cork is in annapolis, maryland with a preview. good morning, kevin. >> reporter: allstate greaalwaye with you, my f

where we see the opportunity, what i'm doing for my clients is primarily looking at the midstream andere you have a yield of around 8%. you have a self funding mechanism whether using a lot less leverage, the big characteristic is enterprise value trading at nine times compared to s&p of 11. >> mlp has had a huge run for a long time but then they collapsed. they were seeing it as this sort of ful foolproof safe haven and then the bottom fell out and a lot of people, particularly retirees got hurt in them. we viewed them just a little more cautiously. also there was hope that in this last tax bill that they would widen it to cover more than just oil investments but that didn't happen just yet. >> right. let's adjust your first statement. there's no such thing as safe haven. it's a stock. it's going to trade and it's gonna go through cycles like any other industry. when it did collapse, when oil went up $30, there was an issue of how much can go through the pipes. at that point, the supply just continues in these guys make money on the amount of oil that goes through the pipeline. it's