it is going to come from natural gas. we have had prolific discoveries of natural gas in australia.and wheatstone developments, the combined spending by us and our partners on those projects is about $85 billion. that reflects a very significant amount of natural gas that we have found in the area, and the opportunity to develop it in proximity to the asian markets which it will serve just has created a very good investment opportunity for us. erik: both projects take gas pumped from undersea deposits, clean it, freeze it, and load it onto tankers bound for japan and elsewhere in asia. wheatstone is about 2/3 the size of gorgon, even if it doesn't feel any smaller. where are we and where are we going? >> well, we are at the ashburton north site. this is the second of two lng tanks we are building. we are going up to the top so you can get an overview of not just the tanks but the entire operation we have got going on here. so, this is one of the two lng tanks that make up the site. this is where the cooled down lng will be stored before it is moved to the loading jetty out there. er

natural gas is priced off of rent because there wasn't really a global market and natural gas. most gas worldwide was priced off of rent. yet a large liquid market and the entrance of henry hub is going to have a disruptive effect longer-term. can u.s. exported liquefied natural gas compete with natural gas supply from russia? can.: to some extent, it it's just a matter of timing. give a project that started in mozambique. maybe three or four of them get completed and get the actual funding from a contract perspective. you want to have those contracts themace before you sink into moving those extra phases of the timeline along. short answer is some of it can and some of it cannot. brendan: there has been some reluctance to put the capital into that. what is on the other side of that decision? the first and second trains will probably come into commission this year. they plan to have nine and offer an extension program. right now, the amount of capital they are looking is pretty much committed to the seven trains they have under construction. we think they will take a wait and se

isis captured natural gas fields. multiple sources indicate that isis sells natural gas to the assad regime, largely to fuel electricity production. finally you say you have heard from u.s. government sources that the natural gas trade between isis and the assad regime is at this point is significantly larger than the oil trade between them. do you know how much isis earns from producing and selling their natural gas? >> i unfortunately don't have a good estimate or breakdown for that number. i think i and other experts have gotten is probably anecdotal. >> dr. crane, would you like to weigh in? >> it is a complicated question what has happened is they shipped the natural gas to a generator. isil is paid in the form of electricity. dollar amount is not useful. >> my question question, mr. harrell, as well as dr. crane wants to jump, in do you believe it is easier or more difficult to cut off this in terms of natural gas versus oil? any thoughts? obviously the revenue is different. >> natural gas is the generating plan

do you believe it is easier or more difficult to cut off come cut off in terms of natural gas versus oil? any thoughts -- obviously the revenue is different. there is a price being paid. knowtural gas, as you well would be the generating plant it goes to, it would be difficult to target the pipeline for say, because it is hard to hit. whether the united states government would want to target something in syria is above my pay grade. it has applications for the horrible situation in syria. as we mentioned on the oil side, i think will -- we will decrease revenues, but it will not go away. helpful, but it does not make it disappear. you.woman: thank you.or: thank i want to go a little bit to saudi arabia. they have continued to ramp up production, even though the price of oil has gone down. i think they are experiencing a bit of a fiscal crisis over there lacks -- lack of revenues. i have a report here that says in order for saudi arabia to 2015,e their budget in the price of oil would have to be $106, it is obviously much less than that area they have reserves, and they are i'm sure dr

harrell: isis is the most serious threat we face today. >> you also talk about, beyond oil, the natural gas business in syria. year, isisst captured important syria and gas fields. isis cells natural gas to the assad regime, hardly to fuel electricity production. you also said that you have heard from u.s. government sources that the natural gas trade between isis and the assad significantly larger than the oil trade between them. do you know how much isis earns from producing and selling its natural gas? harrell: i do not have a good estimate or breakdown for that specific number. that we haveon gotten on that front has been anecdotal. i don't know if dr. crane would like to comment. dr. crane: it is a complicated question because what has happened is that they ship the natural gas to a generator and then isil is paid in the form of electricity. a dollar amount is not useful. it doesn't help isil to have access, electric powered. senator: my final question. in terms of natural gas versus oil. do you have any thoughts? obviously, the revenue is different, but there is a price being paid. >>

it is harder to put a ban on and export of electricity than crude oil or natural gas. it is harder for governments receiving electricity to stop importing electricity. >> all of that activity you describe is dependent on oil and gas. mean, iran has i lots of mining industries and other sources of income, like taxation, which has been increased in recent years to substitute oil revenue. but it comes from oil and gas. they are going to process it. >> i understand. thank you. >> i would actually like to keep with the subject but ask the question a little differently. lifting the sanctions with iran the energyaffects sector, specifically, how would it affect the conservative revolutionary corporation and how businesses might be impacted. what impacts with this opening up have on getting a diversification of our influence in the energy sector? is a population of 80 million. it has a much more diverse economy than a country like qatar. what we have seen happen over the course of sanctions is that the foundations owned by the iranian revolutionary guards into the of crept econ

fracking involves pumping a mixture of water, sand, and chemicals into the ground in order to extract natural gas. the government lifted a moratorium on the for an, paving the way unprecedented-for gas. >> this is hugely controversial. this is likely to lead to higher fuel bills. say that fracking is just part of a wider trend of extreme energy extraction. >> we expect more to be done in the 14th round. as much as 3-5 of the country is up for grabs and people are right to be concerned about this because the government is trying to change the system and local planning. this is said that large investors can go and get approved. we are actually seeing production applied for and we have seen areas of the coastline preparing for coal exploration. three could come from other countries but this has already arrived. >> to cannot look at a shell gas or fracking as a single thing. what we're looking at is extreme energy. this is not just about technology, this requires extreme finance, extreme governance. to force these measures through, they are engineering the system to allow the last exploration it -- t

economy resistance would be to create more value added domestically but processing crude oil and natural gas domestically and export the product instead of the raw material. therefore, we are not going to see a huge amount of export from iranian both on gas and oil side coming to the market after the nuclear deal also in long-term in the next decade. iran's most focus would be on refinery capacity, downstream and also in chemical sites. these are the important measures that iran is going to take in order to reduce its dependency these are the important measures iran's going to take in order to reduce depend sy on crude oil revenue. the current status of iran's oil and gas fields indicate that iran is producing 2.9 million barrels per day of crude ail today. and its ngl liquid and kond can sags product is about 700,000 barrels per day. iran's plan is to -- the plans after the deal, its production is going to gradually rebound. we are expecting by mid next year in 2016, iran's crude oil production to reach about 500 more than what it is today. they are going to have additional 200,000 barrels

they were originally drilling natural gas. it was not successful.ought why don't we take the about natural gas in the u.s., export it to markets where they're undersupplied where they're willing to pay more such as asia or europe. it was a great idea. they managed to get through the permitting process and they're just on the verge of realizing this. at the same time their debt load is massive. they praised $20 billion for a second natural gas terminal before the first one came online. and, you know, i guess the board felt and investors felt perhaps they were in over their skis. >> we're going to check with elon for the impact on louisiana if this doesn't come together. for now, kate, thank you so much. kate kelly tracking cheniere there. >>> hedge fund giant jim chanos has been historically short cheniere. he'll join us to discuss the management changes and his view of the whole thing. don't miss it. >>> they were shaping up to be one of the hottest toys for the holidays. but as more reports of hoverboards catching fire come out, one major online re

economy resistance would be to create more value added domestically but processing crude oil and natural gas domestically and export the product instead of the raw material. therefore, we are not going to see a huge amount of export from iranian both on gas and oil side coming to the market after the nuclear deal also in long-term in the next decade. iran's most focus would be on refinery capacity, downstream and also in chemical sites. these are the important measures that iran is going to take in order to reduce its dependency these are the important measures iran's going to take in order to reduce depend sy on crude oil revenue. the current status of iran's oil and gas fields indicate that iran is producing 2.9 million barrels per day of crude ail today. and its ngl liquid and kond can sags product is about 700,000 barrels per day. iran's plan is to -- the plans after the deal, its production is going to gradually rebound. we are expecting by mid next year in 2016, iran's crude oil production to reach about 500 more than what it is today. they are going to have additional 200,000 barrels

natural gas from land and ocean-based wells is compressed ped by booster stations across the country,m storage facilities mostly based in louisiana and texas. but more gas deposits must be found and developed if we are to meet our growing needs. on the rocky mountains western slopes, oil filled rock is being mined and processed in an experimental plant. though it's now expensive to get crude oil out of the rock, it could someday answer a good portion of our oil needs. >> in terms of the reserves available in colorado, utah, and wyoming, they are very large. the high-quality mineable reserves that might be produced in the foreseeable future are also very large. this could be in the range of 5% to 10% of our total liquid requirement. narrator: what about coal? coal remains one of our greatest resources. there are only two ways to get at it. for generations we have gone , underground to mine it. much has already been brought to the surface. far more remains below. another way to get coal is to strip off a layer of soil and rock. rich veins, particularly in the west are there just under t

that we have low-price, abundant natural gas, and as we use more of that natural gas, we're actually reducing carbon emissions in the united states. so isn't it ironic that as we develop and deploy the new technologies to produce oil and gas more efficiently, more economically and more dependably at the same time to hydraulic fracturing and directional drilling, we're also doing so with better environmental stewardship. and isn't that what american innovation and ingenuity is all about? isn't that the creativity that we unleash in the private sector when we create a good business climate and we empower investment rather than block it with regulation and taxation and roadblocks and red tape that don't make any sense? that's how we create that rising tide that lifts all boats. that's how we become the most powerful and dynamic economy in the history of the world. that's how we create more jobs and opportunity for our people. so now just ten years after some were lamenting the depletion of the world's oil reserves, the model has shifted from scarcity to abundance. and we need additional

any short squeeze in natural gas. could you look at the other players, but cog is the one for me. >> nat gas? >> agree with that. >> even with a 32% rally in the last ten days. >> you could see a short squeeze into the-year-old. i would buy the stock. >> some traders sense a turn around, and dan is at the smart board with the action. >> and in cypress semi, this is a space there was $100 billion of announced acquisition this is year. it was an acquirer. today when the stock was $9.50 there was a buyer of 31,000 of the june 1113 call spreads paying 33 cents for that. that is a million dollars in premium, if the stock is a million or higher, they could make up to $5 million. i suspect this is leveraging a long position. maybe an owner of the stock thinking the company that was one acquired could become the acquiry. and the stock is down 30%. this is where it breaks even, up at 11.33 with a max gain of $5 million. up there. >> thanks for that, dan. coming up next, the final trade. here at td ameritrade, they work hard. wo

sales to the assad regime are actually probably more natural gas and crude oil. -- actually more natural gas than crude oil. there is also ample evidence of smuggling into the kurdish autonomous regions of iraq, and potentially jordan as well. i assess most of that oil smuggled out is consumed locally in those countries and is not entering, in a meaningful way, global oil markets. what can the u.s. and our partners due to further attack this revenue? i think the most important step the u.s. government can take is to continue to escalate military targeting of isil oil installations and the distributional network. the fact is the oil is being sold in isis territory. it is being sold for cash. there is not a lot of leverage international sanctions can have on those operations within their the -- that take place within their own territory. taking out their infrastructure is probably the most important step we can take. that said, there is, as i mentioned, some smuggling that is occurring into adjacent countries. i think adjacent countries, such as turkey and the kurdish autonomous government

economy resistance would be to create more value added domestically but processing crude oil and natural gas domestically and export the product instead of the raw material. therefore, we are not going to see a huge amount of export from iranian both on gas and oil side coming to the market after the nuclear deal also in long-term in the next decade. iran's most focus would be on refinery capacity, downstream and also in chemical sites. these are the important measures that iran is going to take in order to reduce its dependency or crude oil revenue. the current status of iran's oil and gas fields indicate that iran is producing 2.9 million bares per day of crude oil today. ngl natural gas production is 692 to 700 -- about 700,000 barrels per day. iran's plan is to -- the plans after the deal, its production is going to gradually rebound. we are expecting by mid next year in 2016, iran's crude oil production to reach about 500 more than what it is today. they are going to have additional 200,000 barrels of crude oil. iran oil minister is expect to announce iran is going to increase its expor

the company that deals in natural gas, they are still higher despite natural gas falling. the biggest gainer up by more than 8%. biggest gainer. another sector, airline stocks gaining. a 3% gain in year-end holiday travel. look at that. united airlines up 3%. delta air almost up or percent. -- 4%. david: mark has more from our news desk. negotiators are moving closer to a deal that would make a series of expired tax breaks permanent hair and lawmakers hope that will speed up other talks on a spending bill that will keep the government in operation. >> we are negotiating an enormous, year-long, omnibus negotiation. those are ongoing right now as we speak. the last thing i want to do is negotiate through the media. mark: republicans want to avoid a repeat of the shutdown of 2013. a temper a spending bill tomorrow. donald trump has a planned trip to israel. he said i decided to postpone my trip to israel and to schedule my meeting with prime minister netanyahu at a later date after i become president of the u.s. lawmakersn israeli urged netanyahu not to meet with the republic

the oil boom out west has produced stockpiles of natural gas. the same time, the demand for that gas for future homes and businesses is way down because of what's on tractor the warmest winter ever recorded in the united states. >> the winter weather is the number one thing that drives natural gas consumption on a regular basis, so it's a big player. having nearly no demand right now and no surplus with the shale surplus and the excess production we've had over the last few years, it's really driving the price lower right now. >> that is the up side, lower heating bills. analysts are predicting a 10% drop. that has to be good news for consumers as we near the end of this holiday shopping season. >>> residents fight over how best to use one of the region's primary resources. correspondent dan springer has that story tonight. >> reporter: a packing plant in southern oregon is preparing to ship the remainder of this year's potato harvest. the worry here is that it could be the last money-making crop ever. the problem is water. and a congress that f

by exploring that natural gas in large amounts, i see natural gas not recovering for a bit. as you know, natural gas takes a very long time as a market to absorb supply and demand imbalances. >> the bankers have really, really learneded and have gotten much more efficient about -- around this. even now with crude going down to the $30 level, so much of the debt that has been ascribed to these prices has been edge hadded very efficiently. this is about supply and demand, and so on the way back, those hedges will start to come off, and that will put a downward pressure on the price of oil. it might sfwloosh sit tight. bear with us. we'll take a quick commercial, and we want to talk to you about the markets. market structure. a whole bunch of other topics as well on the other side of a quick break. coming up, back with virtu executive chairman vinnie viola, the ceo doug sefu with us as well. we'll debate amazon versus apple. much more with traders and the gang next. >>> welcome back too the halftime report. we're keeping an eye on shares right now of baker hughes. the oil servi

looking at natural gas, take a look at this chart right here. recovered above the two dollar mark which we had fallen $1.99.nd now we are at natural gas is a by two days in a row on weather forecasts that say january may be colder than normal parts of the u.s. because they rely on natural gas. it was 72 degrees when i was at the house this morning. let's check in on the first work news with mark crumpton at the news desk. mark: belgian authorities are trying -- are charging a ninth suspect in the paris attack. the man had been in touch with the cousin of the suspected ringleader. authorities in brussels staged a series of raids in the neighborhood where some of the gunman lived. the attacks in paris last month killed 130 people. holdingnt forces are onto a key district in afghanistan after two airstrikes overnight. troops are fighting the taliban and in the southern province of helmand. syria's government is willing to join talks aimed at ending that countries and bloody civil war. the foreign minister issued a statement meeting with his chinese

in a town overwhelmed by a leak of natural gas. thousands worry about their health. >> an american rorge nal who brings joy to kids who really need it, carving out christmas presents you will not find anywhere else. nightly news begins right now. >> good evening. they are meeting face to face tonight. hillary clinton, bernie sanders and martin o'malley in new hampshire at the final democratic presidential debate of the year. they do so amid controversy continuing fallout from the data breach in which sanders' staff gained access to proprietary information from the clinton campaign. all of this comes as clinton maintains a commanding lead in national polls but trails sanders in new that state. we get more on all of it tonight from white house correspondent kristen welker. >> reporter: today a massive rift within the democratic party, pitting senator bsernie sanders against hillary clinton. the controversy erupted when a sanders staffer took advantage of a dnc computer glitch, exposing clinton's secret voter lists. that staffer was f

there was natural gas being released. we shut down a lot of traffic, we evaluated some commercial buildings. at the height of the incident, there were four buildings evacuated. at the height, we had about eight square blocks shut down. we now have traffic shutdown basically on brand, the only street that is closed, and from second to fifth. now, we are working on mitigating the gas out of the area, making sure there are no more pockets of national -- pockets of the natural gas and lead kind of evaporate out of the area. so far, everyone is safe. the readings that are found are very low. we are not picking up any there are two businesses which are without natural gas that there are no residential units that have been affected by it. vanessa: as the cap and just mentioned, there was a strong smell of gas earlier today. now, it appears that has dissipated. have bridges of madison county happening. the show is going on but they the rerouting traffic. will have more updates as they become available. for now, live in des moines

scarlet: let me ask you about natural gas. so much about crude oil, but is that a precondition for natural gas to rise in price, or can it do it on its own? >> nat gas, the correlation between oil and nat gas historically has a relatively low. a lot of what's going on in nat gas now is driven by north america and houston. inventories are immense. it has its own fundamental drivers, in those of the fundamentals that will drive it in connection with oil, which is relatively modest, except that they are both affected by demand. if you come inside the bloomberg terminal, i am looking at natural gas in the northeast. we are looking at $.79. i mean, how many companies will that put out of business? it's surprising that they have been so resilient so far. but i don't think that resilience can last forever. particularly if it is a warm winter in the northeast, part of the problem in the northeast is that because of infrastructure constraints the gases trapped up there, but there is no demand and it will be pretty brutal for the produc

here is the bad news, that 8% gain for natural gas only represents a move to $1.91. n 8% jump is still below 2 bucks. natural gas literally you think oil is oversupplied, nat gas can't get out of its own way. shares of joy global moving higher following an upgrade at fbr. the analyst says the company is making the right moves to cut costs. shares of u.s. steel also moving higher after the company reached a tentative deal with the unite the steel workers union. the deal covers roughly 28,000 workers at more than a dozen u.s. locations. >>> and as oil falls there are more new lows for many well-known oil stocks. hess down by more than 2%. williams down a half. kinder morgan and cimarex down nearly 5%. >>> brian, solar stocks getting a major boost after congress passed a $1.1 trillion spending bill that included some major tax breaks for solar companies. solar city though a big standout, nearly doubling in the past month alone. joining us now linden ride, the ceo of solar city. it's always great to see you. >> thank you very much for having me. >> your stock has had a tr

natural gas could be used to generate energy. but those here in front of the statehouse fear that new hampshire ratepayers would have to foot the cost of the an increase in utility bills. opponents also say that there are other ways to meet the energy needs here in new hampshire, and there are too many unknowns for people to be able to intelligently weigh the risks versus rewards. rep. mcconnell: it is impossible for the towns here to be able to take a look at these things and make an accurate assessment of what the costs and risks are without knowing where this project is going to go. david maloney: things like liquid natural gas, lng, is significantly cheaper and has been servicing new england since the 1970' s just fine. ray: not everyone here was in opposition to the pipeline. there was a truck circling the statehouse, playing christmas carols, and among the messages, "pipelines are lifelines." kinder morgan says the pipeline would "generate nearly $20 million a year in local tax revenues and create more than 1000 local jobs

the leak is coming from a natural gas storage facility owned by the southern california gas company,s unknown, but it's believed that well casing was breached deep below the ground. adding to the confusion, the methane is invisible to the eye, so residents can't see the fumes causing them headaches and nosebleeds. amy: methane is a powerful greenhouse gas that contributes to global warming. the leak is so severe it will account for one-quarter of all of california's methane emissions in just one month. socal gas says it could take three to four months to stop it. the company declined our request to be interviewed, but issued a statement saying -- "socalgas is working as quickly and safely as possible to stop the natural gas leak at its aliso canyon storage facility, and we are redoubling our efforts to aggressively address its impact on the community and the environment." well, for more, we are joined from los angeles by erin brockovich, renowned consumer advocate. while a single mother of three working as a legal assistant, she helped win the biggest class action lawsuit in american

control. >> you can see my eyes watering. >> reporter: despite these complaints, socal says the natural gas isn't toxic. they're not so sure. they've hired an attorney. >> what we're trying to do here is to get the gas company to there's about 90 wells that are up here in this community, and this is just one well that ruptured. >> reporter: the gas company says it could still take two to four months to fix the leak, meaning the katz family wouldn't come home until spring. >> i don't know if we are going to come back. i'm scared to come back. >> reporter: uncertain of what the future holds for their home and their health. >>> memorial services today for three more victims of the massacre in san bernardino two and a half weeks after the attack that killed 14 people. president obama paid his respects last night during a stopover in san bernardino on his way to hawaii. he met with families of the victims. >> despite the pain and the heartache that they're feeling, they could not have been more inspiring and more proud of their loved ones and more insistent that something good comes >>> when "ni

and it's natural gas. we talk about oil, not enough about natural gas.atural gas is below almost -- maybe there's one or two companies that can make money. >> yeah. >> natural gas is -- we're flaring a huge amount. doesn't matter. >> 1.82. >> $2 is the break even for almost every company in the country. the ones below ten are natural gas companies, except a handful that happen to have both. i will mention names. >> you have to start to. >> the customer talks about it. southwestern, ancanna, ultra, sand ridge. >> large companies. >> freeport, chesapeake. >> chesapeake doing a lot of oil. not natural gas. >> they sold $5 billion to who? southwestern energy. i visited chesapeake's utica's properties, not so hot. we sit here and say we won't talk about them, but we owe something to the viewers because their balance sheets are hideous. >> of them are distressed. it always amazes me the ability companies do have to avoid the death clutches. they reorganize. >> you can reorganize, sometimes you can do that outside of bankruptcy. any time along the way these com

. >> morocco also emphasizes the massive introduction of natural gas as part of it industry strategy.ver the next five years, it will install infrastructure to make liquefied natural gas more available. >> while morocco is taking measures to meet growing demand for both primary energy and electricity, this very demanded also the outcome of a successful program of nationwide electrification. >> demand for electricity growth by 7% to 8% annually, driven by morocco's expanding energy sector. implementation into the technology sector is moving into deep integration with the global knowledge economy. makes itrocc a cornerstone of the economy . >> morocco is already leading the way in outsourcing and off shoring. it's best known off shoring project is a result of a $341 million investment by med sourcing. the development is home to 100 such as dell and accenture. ibm created a service center to service morocco and other african markets. initiative, ate morocco digital fund has been set up to give assistance to local technology firms, managed by the country's three biggest commercial banks a

. $117 per family for natural gas. $800 for heating oil. with predictions this could be the new normal for several years to come. tom costello, nbc news, washington. and here in iowa, drivers are celebrating the record low gas prices. a gallon was going for a buck-89 yesterday in west des moines. that's nearly 40-cents per gallon less than at this time last year. still ahead on your news at noon. "i just wanted to make sure other kids wouldn't have to lose their friend like i did." this young girl is fighting to end childhood cancer. how she's doing it one hair bow at a time....and the new program shining

yes, we have a rot of natural gas, but the rest of the world does not. particularly ease aiza, and they are on the leading front of exporting to az wra and other places as well. that's a little bit of wind in their sails, but i don't like either stock. >> we also asked you, the viewer, and the listeners to weigh in on twitter, and the winner is pete with freeport. >> wow. i appreciate that. by the way, huge put activity for a very long time, mandy. there have been people on this story for multiple months, and it continues to play out. >> we've also got a news alert. let's head to sima modi. >> kayla, kalobios pharmaceuticals asking to delist the company. a hearing on the company's appeal has been scheduled for february 25th of 2016. this, of course, following news last week that nasdaq is planning to delist the company that came out on december 23rd. that's the latest. mandy, back to you. >> thank you very much. jim has a stock pick he is calling the best value on the block. what's he thinking about? find out next. plus, is biotech back? should buyers st

same thing with natural gas. i would imagine it's going to happen once we find a bottom in oil prices. i tried to pick that bottom two or three times. i'm not going to play that game anymore. i'd rather rally it from the low $10 and then i can look back and say now that's the bottom. i think that's when you will start to get the deals made at that point, not right now. >> that's the problem with a move like today it pushes that timeline off again. anthony thank you for joining us. >> let's move over to breaking news on nicy. sara eisen joins us by phone with the details. >> i can report that nike has just signed lebron james for life. we don't have the exact terms of the deal, but this is a new structure for nike, it is a lifetime deal which means that he will remain a star for nike, an endorsed star for nike throughout his career and then beyond his career. again, nike has never done a deal like this, but makes sense for them to do that on lebron james who are one of the biggest endorsement stars of all of baske

it's basically some old oil wells now being repurposed to store natural gas underground. d deep underground, thousands of people -- thousands of feet underground by big compressors and the gas gets stored there in underground tanks until the company wants to take it out again and send it to consumers through it network of pipeline. something went wrong there in october. one storage well, 8,500 feet underground started leaking both natural gas and the additive that they put in natural gas so it has the rotting exsmell so you know you have leak. and the people in san fernando valley live about a mile down from then it started leak they got a big whiff. the gas company has been trying to stop that leak since october but it hasn't worked. the private utility that owns the storage well is called southern california gas company. they think the leak is happening in a casing around a particular seven-inch pipe. but even though they have a theory of what the problem is, their efforts to fix this problem hasn't worked at all. their big idea was to fill that pipe with salt water. bas

it's basically some old oil wells now being repurposed to store natural gas underground. the gas gets injected deep underground, thousands of people underground by big compressors and the gas gets stored there in underground tanks until the company wants to take it out again and send it to consumers through it network of pipeline. something went wrong there in october. one storage well, 8,500 feet underground started leaking both natural gas and the add tif that they put in natural gas to give it in rotten egg smell so you know you have a leak. and the people in san ver fernando valley live about a mile down from then it started leaking they got a whip. the gas company has been trying to stop that leak since october but it hasn't worked. the private utility that owns the storage well is called southern california gas company. they think the leak is happening in a casing around a particular seven-inch pipe. but even though they have a theory of what the problem is, their efforts to fix this problem haven't worked at all. their big idea was to fill that pipe with salt water.

natural gas is something we have to talk about.s near session lows, lower for a fourth day in a row. 5.5%.early we saw the slowest intraday price since 2002. the reason, of course, that warmer winter weather we are seeing, even today. 60 degrees in new york. all of that from el niÑo. of course, natural gas is up, definitely feeling those effects. kinder morgan, the u.s.'s biggest pipeline owner down, your to date 5%, southwestern energy down five and two thirds percent. david, interestingly oil is up, but we will see if we can hold on to that. ramy inocencio at the markets desk courtney donohoe has more from our news desk. courtney? president obama will give an update today on what the u.s. is doing to fight islamic state. u.s. officials have insisted there are no specific credible threats to the country, but the san bernardino shootings have raised concerns about a potential attack. at obama will hold a meeting the pentagon and traveled to the national counterterrorism center on thursday. in baltimore, jurors will hear closing arg

it's basically some old oil wells now being repurposed to store natural gas underground. the gas gets injected deep underground, thousands of people underground by big compressors and the gas gets stored there in underground tanks until the company wants to take it out again and send it to consumers through it network of pipeline. something went wrong there in october. one storage well, 8,500 feet underground started leaking both natural gas and the add tif that they put in natural gas to give it in rotten egg smell so you know you have a leak. and the people in san ver fernando valley live about a mile down from then it started leaking they got a whip. the gas company has been trying to stop that leak since october but it hasn't worked. the private utility that owns the storage well is called southern california gas company. they think the leak is happening in a casing around a particular seven-inch pipe. but even though they have a theory of what the problem is, their efforts to fix this problem haven't worked at all. their big idea was to fill that pipe with salt water.

volumes in the natural gas sector are going to rise.ve rising volume, you can make more money and distribute. we go over weight. >> chief investment officer from cumberland advisors joining us from sarasota, florida. not ready to make a full meal of it. this is a big question and we're glad david can talk to us about that. we have a lot of coverage on that. things for joining us. ♪ betty: welcome to bloomberg markets. from bloomberg world headquarters here in new york, i am betty liu. is the final trading hour of the final trading day of 2015. stocks are heading towards their worst year since 2011. and 2015 was the year investors lost their taste for one stock -chipotle. then we will be asking wilmer ross about his thoughts on puerto rico and where he sees opportunity in 2015. in the meantime, it is now 2016 in dubai. you are looking at live pictures. no fireworks yet.

heather: yes, opponents were loud and clear they do not want a natural gas pipeline. well only a few hundred showed up, thousands added signatures. beating drums and marching proudly, people protesting the cantor morgan natural gas pipeline made their way to the state house. >> we don' heather: ned, an acronym for northeastern electric project, would create jobs, but protesters save the negatives outweigh the positives. >> we have to live next to these things. our air quality and our water quality and there is no benefits granite stater' s. heather: this sister staffs a house with four other nuns, and she fears they will have to reduce their ministry or close the else altogether. >> after 25 years, we certainly have helped hundreds of people died. heather: protesters armed with not only stories and signs, but petitions with more than 10,000 >> i think it' s really important for citizens in any part of the state to let those concerns be known. that has allowed me to raise all of those questions with ferc, and i will also be raising them with the sec. the company has to

you have natural gas prices -- you have natural gas prices trading at one-third of what they were a mere three years ago. and they don't look like they will move. there is plenty of drilling going on. they are continuing to drill with it. >> i totally agree with that statement. and look at the investments he's made over the past couple of years. this may be a good investment at some point in time. there is more downside here i think. and at some point it looks -- >> and the cost of the structures are aft ron ommic. >> exactly. >> and the weather will not help natural gas. >> and i would just add about cheniere. it bounced off $40 today. that is a big support level going back maybe a couple of years right now. and this is a different one than the transocean and the other names that he owns in the energy space that seem like distressed equity. yes, it is in a down trend but it is also up from $10 a couple of years ago. so when you think about this one, this is probably not one of the ones you want to jump in because he mildly raised his stake. >> okay. still ahead. stocks taking a beating

liquid natural gas is the ticker. down, they were down yesterday and will continue to be down even .hough you see gains in oil carl icahn started buying a niere in august, and now has 13.8% of the company. since he started buying -- august 31, it is down 30%. let's look at boys. carl icahn has bought a stake in cap toys. he had 12%. they already had a deal to sell to bridgestone, or bridgestone a them.to buy carl icahn said he will buy all of the shares in pep boys, and they say they like his offered better than the offer from bridgestone. you can see that this stock is gaining, and it is part of carl drive moren to consolidation in the auto parts business. he bought a canadian auto parts supplier this year. politics.ning to donald trump is in the middle of the firestorm of controversy he created. republicans and democrats are condemning his call for a ban on muslims entering the u.s. one of trump's middle eastern's nest partners is drawn the line. this is trump making the comments in south carolina. calling for ap is

alex: natural gas is not doing well. take a look at the level. .wo dollars right here you can trace that back to levels we have not seen since 2001, although it back to 1999. that's how bad it is. and he see that reflected in stocks over the last week or so. joe: one day natural gas will get back there. alex: no, northeastern natural gas is under one dollar. scarlet: i am taking a look at the divergence he between credit and equity, particularly high-yield credit. so here is a relative of high-yield credit as shown by this chart. it is grinding lower. the s&p 500 has done much better. this is about until mid april. many see this faltering and the declining in september. since then, it has largely rebounded and credit has been faltering. why is there no spill over into equities? what will give? will stocks continue to tumble? joe: it cannot be that simple. here knows -- who knows? alex: it is so energy-related. joe: speaking of energy and dividends, i remember on monday limited about the partnerships and these are the pas

shelley: senator kelly ayotte announced today that she opposes a proposed natural gas pipeline in new hampshire. ayotte says kinder morgan needs to address important concerns from residents before they should be allowed to move forward. kinder morgan met with people in rindge this evening. wmur' s stephanie woods was there, and joins us live from rindge. stephanie: tonight at hidden hills estates, debate got very heated. now one more voice in the debate against the natural gas hotline, and that is senator kelly ayotte. >> this pipeline is being paid for by kinder morgan. not by you. stephanie heated debate : wednesday night in rindge on the proposed ned pipeline which although pat martin isn' t happy hampshire doesn' t need. >> we can' t really use that much gas for electricity generation. it' s not in the cards. there is something she' s smiling >> there is something she' s smiling about. >> i immediately shot off an email thanking her and i' m a lifelong democrat. stated that the federal energy answered neighbors' questions about a natural gas pipeline' s impact on safety and their