mr. webster, welcome. mr. webster: thank you. i appreciate the opportunity to testify before you today on global oil markets and the potential and actual impacts of terrorism on oil prices and energy security both globally and here in the united states. today, i appear before you in my capacity as senior director for ihs. i leave the company's global oil markets -- i lead the company's global oil markets team. ihs is a research consultancy that specializes in energy, capital intensive industry data and analysis with a worldwide presence. the current era of oil abundance and low oil prices does not eliminate the issues with geopolitical and terror risks emed tothey may have se fade. isis and the of gaining of significant syrian and iraqi territory in 2000 18 and an increase in terrorism globally, this interest will be growing over the next few years. and the risk premium or fear premium in oil prices is likely to return. so, this temporary measure, where we don't have that, is as a result of low oil prices, due to the united state

mr. webster, any thoughts on that as well? we have heard these comments that the limited attacks in iraq and syria have been related to environmental concerns. then we have paris and san bernardino, the strategies change. any insight? webster: i am a global market guy. i would agree with peter that it would seem when you are looking at this, that the cost in terms of collateral damage against what isis brings particularly as , i am looking around the world at increased risks to the global supply system over the next several years, anything we can do to roll that back would be a positive thing. >> this gets back to, we don't want politicians running this war, we want the u.s. military to destroy isis. mr. webster, my question is how would removing the ban on crude oil exports help reduce the world's risk to terrorism. mr. webster: by removing the ban, what it does is allow the u.s. producers to ensure that they do not get such a big discount compared to global prices. that essentially removes a policy discount. at this particul

mr. webster, you emphasize that u.s. shale production has contributed not only to u.s., but also global national security. it would do more so if we allow oil experts. i'm struck that we just assume fracking industry can rise and fall effortlessly. but from the field i'm hearing because prices have remained low so long, the production is being idled and the workers dispersed. we can't ramp up in a week but rather reassemble in a period of time. and the longer we go the longer it takes to do so. is that a correct assessment? >> thank you, senator, for that question. actually, that is correct. the longer that the fields that you kind of move out and lay off the crews, the longer it takes to reassemble them both in terms of the kits required, but also in terms of the personnel. so while you can bring production back up when there are market signals, the longer they are not, you know, kind of at the high level of investment, the longer it does take. >> the more we dillydally, the more the risk thereby hurting national and gl

mr. webster, you emphasize that u.s. shale production has contributed not only to u.s., but also global national security. it would do more so if we allow oil experts. i'm struck that we just assume fracking industry can rise and fall effortlessly. but from the field i'm hearing because prices have remained low so long, the production is being idled and the workers dispersed. we can't ramp up in a week but rather reassemble in a period of time. and the longer we go the longer it takes to do so. is that a correct assessment? >> thank you, senator, for that question. actually, that is correct. the longer that the fields that you kind of move out and lay off the crews, the longer it takes to reassemble them both in terms of the kits required, but also in terms of the personnel. so while you can bring production back up when there are market signals, the longer they are not, you know, kind of at the high level of investment, the longer it does take. >> the more we dillydally, the more the risk thereby hurting national and gl

mr. webster? >> thanks for your question, senator. as you are probably aware, i just put out a couple of studies on the crude export issue. and our findings is that this is a clear win for the u.s. economy. and also for energy security. it's difficult to find a case where this is not a positive. >> thank you. doctor, when the united states put the restrictions in place, the sanctions in place on iran, at that time i believe iran was exporting 2.5 million barrels a day. after those sanctions had gone into place, i believe their exports declined to just barely over 1 million barrels a day. with the president's plan to lift sanctions, can you tell us what you anticipate in terms of exports for iran and kind of a timeline as you see them grow. >> thank you very much for your question, senator. under immediate rebound of iranian crude oil on, depending on the timeline of the sanction roll back, iran can add about 400 to 5,000 thousand a day by next year. and 150 to 200 thousand barrels per day. iran's near term plans is to ramp up its crud

mr. webster, welcome. >> thank you very much. chairman murkowski, ranking member, cantwell, members of the committee, i appreciate the opportunity to testify before you today on global oil markets and the potential and actual impacts of terrorism on oil prices and energy security both globally and here in the united states. today i appear before you in my capacity as senior director for ihs where i lead the company's global oil markets team. ihs is a research consult. the current era of oil abundance and low oil prices does not eliminate the issues with geopolitical and terror risk. though they may seem to have faded from a global oil standpoint at this point. with the rise of isis via the gaining of significant syrian and iraqi territory in 2014, and an increase in terrorism globally, this risk is going to be growing over the next several years. the likelihood of the -- what is called the risk premium or fear premium in oil prices is likely to return. so this temporary measure where we have we dondon't have that i result of lowe

mr. webster,i: thank you. welcome. webster: thank you. i appreciate the opportunity to testify before you today on global oil market and the ofential and actual impacts terrorism on oil prices and energy security both globally and here in the united states. today, i appear before you in my capacity as senior director for ihs. ihs is a research consultancy that specializes in energy, capital intensive industry data and analysis with a worldwide presence. the current era of oil abundance and low oil prices does not eliminate the issues with geopolitical and terror risks --ugh they may have seen seemed to fade. with the rise of isis the a the gaining of significant syrian and iraqi territory in 2000 18 and an increase in terrorism globally, this interest will be growing over the next few years. and the risk premium or fear premium in oil prices is likely to return. this temporary measure where we do not have that is as a result of lower oil prices due to the united states bringing on increased production as well as opec's deciding not to cha

mr. webster: thank you for your question, senator. this is a very big issue. i know you have discussions in terms of figuring out how much spare capacity actually is. the analytical community, we do not have guesses. we call them "analyses." it is a big question for markets. in 2000 eight, there is the assessment of saudi arabia has historically had 12.5. in reality, you have to make an assumption on how much is actually there. the last million barrels a day or so is actually quite heavy. it is oil that is not terribly useful for the oil markets. there is uncertainty on how sustainable it is and what kind of oil it is. this shift from saudi arabia's spare capacity to more control in the united states system in terms of shale oil and stocks is incredibly important because it is easy for someone like me to calculate how much we have. the fear premium, my concern is we have a lot of geopolitical risk, but the market is not paying attention because we are producing more oil than we are consuming around the world. you can actually handle an outage without a lot of

mr. webster is currently totally and permanently disabled..." >> narrator: and buried in the documents, a stunning admission by the league's board: football can cause brain disease. >> "...his disability is the result of head injuries he suffered as a football player..." >> the nfl acknowledges that repetitive trauma to the head in football can cause a permanent disabling injury to the brain. >> narrator: the admission would not be made public until years later, when it was discovered by the fainaru brothers. >> and that was a dramatic admission back in 2000, and in fact, when you talk about that later with fitzsimmons, he describes that as the sort of proverbial smoking gun. >> narrator: it was now in writing: the nfl's own retirement board linked playing football and dementia. at the time, it was something the league would not admit publicly, and webster felt he'd never received the acknowledgment that his years in the nfl had caused his problems. >> mike would call this his greatest battle. he'd say it was like david and goliath, over and over, because it was. he was taking on somethin

mr. webster: thank you, leader pelosi, chairman thompson, vice chair kelly. it is indeed an honor to be with you today and be part of this distinguished panel. the nation's attention has been on an alarming increase in mass shootings, but these incidents represent a small fraction of gun violence in the united states. while some policies could reduce the numbers killed or wounded in mass shootings, my comments today focus on what research tells us about how to prevent more of the over 33,000 firearm related deaths each year in the united states. there are at least three major ways in which changes to federal gun laws could reduce gun violence. first, higher standards for legal gun ownership would help. currently a person can legally buy as many guns and as much am mow as they'd like and carry that around with them in most states almost anywhere they like, even if they have been arrested and convicted for numerous crimes involving violence, guns, and alcohol. as long as those acts have not resulted in a felony conviction. an individual can also have numerous p

mr. webster. thank you for your support of johns hopkins in similar ways, but importantly the work that you have given such valued testimony today. , what ioceed for youward would like to do as quickly as possible is to acknowledge all of our members who are here, then take them three at a time. 1 when questioned each. sometimes we have multiple questions, which deters others the opportunity. let's see how we can do it. user time whichever way you want it. -- use your time whichever what you wanted. a speech, that question, may be a speech disguised as a question. one or the other. we are joined by our distinguished chair of the house and by thecaucus chair of the steering policy committee. joined byo congressman david cicilline went to the floor to make a statement about gun violence. congresswoman hahn from california. force,r of the task congressman este of connecticut. congressman peter's of connecticut. congressman takano of california. congressman scott of virginia, another member of the tas

mr. webster: thank you, leader pelosi, chairman thompson, vice chair kelly. it is indeed an honor to be with you today and be part of this distinguished panel. the nation's attention has been on an alarming increase in mass shootings, but these incidents represent a small fraction of gun violence in the united states. while some policies could reduce the numbers killed or wounded in mass shootings, my comments today focus on what research tells us about how to prevent more of the over 33,000 firearm related deaths each year in the united states. there are at least three major ways in which changes to federal gun laws could reduce gun violence. first, higher standards for legal gun ownership would help. currently a person can legally buy as many guns and as much am mow as they'd like and carry that around with them in most states almost anywhere they like, even if they have been arrested and convicted for numerous crimes involving violence, guns, and alcohol. as long as those acts have not resulted in a felony conviction. an individual can also have numerous p

mr. webster: while some policies could reduce the numbers killed or wounded in mass shootings, my comments today focus on what research tells us about how to prevent more of the over 33,000 firearm related deaths each year in the united states. there are at least three major ways in which changes to federal gun laws could reduce gun violence. first, higher standards for legal gun ownership would help. currently a person can legally buy as many guns and as much am mow as they'd like and carry that around with them in most states almost anywhere they like, even if they have been arrested and convicted for numerous crimes involving violence, guns, and alcohol. as long as those acts have not resulted in a felony conviction. an individual can also have numerous prior restraining orders or even a current emergency restraining order for domestic violence and that is not a legal barrier to having or carrying guns in most states. when states have raised standards for legal gun ownership, research has documented reductions in violence. second, congress could heighten accountability measures for fede

mrs. annie allen. i'm james webster late, united states navy. i am from huntington park, california. , u.s. army. i live just outside albuquerque, new mexico. i'm lieutenant william schick, united states medical corps. my home was chicago, illinois. my parents were mr. and mrs. william h schick. my wife's name is lois. >> you have a baby now, lieutenant. he was born three months after pearl harbor. he is named after you -- billy. you may be pleased to know that he was born on your birthday. >> that's swell. thanks. >> how does it happen that all of you sound and talk alike? >> we are all alike. we are all americans. ♪ ["my country tis of thee"] ♪ ["taps"] ♪ >> tokyo is calling nagasaki, over. his excellency, premier tojo will report to the nation. the united states has threatened to enslave the life of our peaceloving nation. i have the honor to report that we have struck an annihilating blow at the united states people. here are the facts. >> almost immediately, the crowing began. just listen to the facts. >> the battleship arizona, sunk and lost. >> regrettably, that is correct. >>

mr. o'malley will be in iowa until the 30th. tomorrow morning he will be at a forum in webster city. and as the week goes on, chris christie, marco rubio, donald trump, and bernie sanders will also make stops around the hawkeye state. tensions are high in chicago tonight after police shot and killed two people this weekend. police say one of the victim's -- one of the victims was shot accidentally. brian webb reports. brian: chicago police admit that an officer made a mistake >> when i came out my room and i looked and seen my mom on the floor and i just got to crying. brian: police were responding to reports that 19-year-old college student quintonio legrier was acting agitated and armed with a baseball bat. officers shot him several times. he died at the hospital. >> he wasn't a violent person, he was somebody that wanted to go somewhere. and the people that are supposed to protect us took kids life. -- took his life. brian: both shooting victims are black. police refused to release the race of the officer or officers involved. >> they were confronted by a combative individual, res

mr. grassley: i come to the floor because we're discussing obamacare on the reskil reconcin bill. webster's dictionary defiance the word "success" as the correct or desired result of an attempt. so i want to discuss the definition of the word "success" as we consider repeal of obamacare. on the day the bill was signed into law, president obama said the following following -- quoty we're affirming that essential trunnel, a truth that every generation is called to rediscover for itself, that we are not a nation that scales back our aspirations." end of quote. such grand words for where we are today with obamacare today the success of the law that now bears his name is defined in much more meager terms. think of all that that we have been thraw to this point much the fight over the bill and the extreme legislative means used to pass it through the congress. then the supreme court decision that effectively repealed half of the law's coverage. think of all the changes made to the law through regulations to make sure that obamacare actually got launched. the postponing of the employer mandate, th