the question is to what extent oil and gas runs north dakota. s now is don morrison, executive director of the dakota research council, a group of 700 conservation-minded landowners. >> thanks for having me on your show. >> you were surprised by the number of oil spills in your state. to me, it was a surprisingly large number. >> from what we've been hearing from farmers, ranchers and folks out in north dakota, 300, not surprised. it's not good news. but it's still a large number. >> why do you think there hasn't been more notice given to the public when those spills happen? i mean, part of it is that the spills are happening. the other part is that the public isn't being told. why do you think that is or what's your reaction to that? >> i think if i could go back, this is normal operating procedure i think where it occurs north dakota state government. farmers, ranchers, workers, native americans. and they are calling the health department, industrial commission on difficulties and problems they've had with pipeline sightings, well pads and dust

officials today in north dakota say they have no idea what caused the new north dakota spill or how longline was spewing for. they also say that as best as they can tell, right now, it doesn't threaten any major source of water, for which they are very grateful. we keep having oil pipeline spills in this country. the federal agency that regulates the transportation of oil by pipeline in this country is called the ferc, the federal energy regulatory commission. back on october 1st, which was government shutdown day, the agency said that the government shutdown would not affect them right away. they said their offices would remain open for business during the shutdown, but by today, that has now changed. a spokeswoman for the agency said they have had enough money to operate through this week, but, quote, i don't know how long we can operate next week. so the agency that regulates oil pipelines in this country, that agency looks like it's going dark in a few days. even the specific agency that is responsible, not just for regulations, but for guaranteeing the safety of our oil palestiipeli

it's all part of it. >> todd, i am here for you, buddy, here in north dakota.welcome any time. you have the beard for it. >> right here. >> bigger risk, snakes, quick sand, witches, isn't falling gold prices the biggest risk you face? >> the falling gold prices like around here, i don't buy, you know, particularly gold shares or things like that on paper. you know, obviously i'm going for the actual metal. i suggest that, to get the metal in your lands and be able to hold on to it. but when i was in south america and i could -- you know that first bump we had where the price started coming down, you know, i could actually feel the country, you know, which is about 50% of all their income coming from mining, i could actually literally see everything get tense. i felt the situation starting to get more dangerous. and people just got a little more desperate. so, you know, we can kind of, you know, take the ups and downs, but in south america, where these guys are living, you know, hand to mouth by the gold industry, it got dangerous down there when i saw that firs

senators from south dakota about this i know who are deeply concerned, as well as the senators from north dakota. but in south dakota, where last friday, october 4, an early autumn blizzard killed an estimated 75,000 head of cattle. 75,000 head of cattle. and just one of the many pictures of what is happening as a result of this blizzard. many producers lost half their entire herd. keep in mind that many thousands of these cows would have produced calves in the spring, so these are losses that are huge for ranchers and families and will be felt for many, many years to come. these cattle ranchers and their families have no safety net, zero safety net. they don't get direct payment subsidies. they have right now zero safety net. they only had livestock disaster programs which expired october 1 of 2011, 741 days ago. their losses are expected to reach into the tens of millions of dollars. our farm bill, our senate farm bill which we passed, as we know, with strong bipartisan majorities last year and this year -- we have actually done it twice, doing our jobs, includes permanent livestock disaster a

and barclays so talk a little bit about their so just to use that example bank of north dakota is a public bank it's the only public bank in the united states and it does financing for infrastructure so it financed a water pipeline in the western part of north dakota they put in fifty million dollars to fund that and let's just think about the mechanics so that what's happening is the rate the water payers are paying for the interest on that it doesn't really matter what the interest is because whatever interest they pay goes back to the bank which is owned by the people and then that that money is recognized as profits and return to the general budget to lower taxes or to provide increase ervice is so so you end up with this closed circuit so it doesn't matter what the what the interest rate is frankly in a close circle like that because the people may pay the interest but they're going to receive it back in terms of profits so that's the no that's the. that's the value proposition me on a public bank is is that it returns the interest to the same economy in which it was paid during the f

and barclays so talk a little bit about things or so just to use that example bank of north dakota is a public bank it's the only public bank in the united states and it does financing for infrastructure so it financed a water pipeline in the western part of north dakota they put in fifty million dollars to fund that and let's just think about the mechanics so that what's happening is that the water payers are paying for the interest on that it doesn't really matter what the interest is because whatever interest they pay goes back to the bank which is owned by the people and then that that money is recognized as profits and return to the general budget to lower taxes or to provide increase ervice is so so you end up with this closed circuit so it doesn't matter what the what the interest rate is frankly in a close circle like that because the people may pay the interest but they're going to receive it back in terms of profits so that's the no that's the. that's the value proposition we on a public bank is is that it returns the interest to the same economy in which it was paid during

since two thousand and twelve none of which none were reported to the public now regulators in north dakota are not required to notify the public about spills and according to the director of water quality in north dakota's health state department regulators are reviewing policies for when the reported oil incidents such as this massive spill in north dakota last month should take place which was kept quiet in fact for eleven days and finally the consumer price index and index that magic measures the cost of living in the u.s. climbed to the. point two percent scuse me point two percent in september however core c.p.i. increase less than expected this is spurred speculation that fed officials meeting today and tomorrow will likely keep their foot on the pedal when it comes to any q.e. announcements tomorrow. the bureau of labor statistics released its october jobs report albi it a little late due to the sixteen day government shutdown however the report showed that more than forty four thousand federal workers applied for benefits in the weeks and dean on october twelfth that's just one wee

. >> way more. >> more than manhattan. >> and in an rv park. >> 15 miles outside of williston, north dakota. >> it includes electricity. >> that's a bargain. >> reporter: oil field workers are routinely pulling in $10,000 per month. 50 years ago there were only 30 wells operating in the area. today there are more than 6,000 and that number is expected to keep growing. and it's not just big publicly traded companies like eog, schlumberger and continental resources benefitting. a 3 2-year-old entrepreneur began with one crane two years ago and has eight. >> i have one there, the value is 400,000 right now. >> given the stlent of your business at $2.5 billion, you could pay that off quickly squl yeah, they are an hourly rate machine but you can pay them off quickly here because the wheels never stop turning. you can work 24 hours a day and we do. >> reporter: some think it can't continue but as long as oil and gas prices don't collapse, look for the story to keep on growing. for "nightly business report", i'm brian sullivan. >>> for more on the economy, check out our website nbr.com. amazing t

oil-rich bakken shale helped bring north dakota's joblessness to half the national average. and emerald oil has been drilling right in the heart of the play. don't miss cramer's exclusive. all coming up on "mad money." >>> on a day when the volatility index, you know it at the vix, also known as the fear gauge, increased 1.29%, what should we take away from this move? you hear a lot about the vix these days, yet there still seems to be a fundamental misunderstanding of how it works. we'll clear that up tonight. you'll see people quoting the volatility index as an indicator all of its own. that doesn't work. without context, the vix alone actually tells you very little. reporting that the vix is higher on a day when the averages are down, that's kind of like saying the bear fans were angry because the bears lost sunday. it doesn't tell you anything you didn't know, other than the fact that maybe you can't play cutler for a couple of weeks. as you might imagine, there's a powerful correlation between the so-called fear index and the market as a whole. when stocks go higher, th

. >> take a call from marlin in bismarck, north dakota. i want to hear your answer to that. >> hello. >> hello. >> i was a 6-year-old boy during a campaign of hoover and al smith. and a lot of the biggest things was repealing the 18th amendment. and i grew up in the swedish community in nebraska, all of them conservative, very religious. everybody voted for hoover. also, the market crash in '29, the bank busted at the same time. and i was 7 years old then. and i wanted to go down and collect the money when the banks broke. we -- hoover dam was named for him during the hoover administration, the midwest drought started where the storms started all the way from north dakota all the way through nebraska down to oklahoma. >> marlin, thank you. i'm going jump in at that point. because you've given us a good opportunity to ask. ask what should her legacy be and how should we view the hoover administration in hindsight? what's the thesis going to be after writing this biography. >> my thesis is if she had not succeeded in a woman in a position fo

. >> oil spill in north dakota - why farmers and residents knew nothing about it for weeks. >>> day 14 of the deposit shutdown is ending on an optimistic note. weeks of finger pointing on capitol hill could be winding down. democratic and republican leaders are confident a deal to reopen the government and raise the debt ceiling will be done by the end of the week. we have more from white house correspondent mike viqueira. >> well, a deal in the senate may be at hand in the nick of time. the gop politics that brought the nation to the brink means there's no n -- guarantee that a senate-passed plan will pass in the house of representatives. >> president obama visited a washington food bank where he greeted furloughed workers. >> if the republicans are not willing to set aside part san concerns to do what is right for the country, we stand a chance of defaulting. >> there are signs the worse may be avoided. senate leaders said the right things in the core doors. >> i'm optimistic that we'll reach an agreement. >> i share his optimism. >> i feel good. >> on the table - funding the governm

however, because the doors are closed on the federal government, north dakota ranchers, south dakota ranchers and anyone who is experiencing livestock losses have no place to report those losses. and even worse, they have no one at usda to consult with about the information they need to collect to eventually report their claims. this is critical information. if farmers aren't collecting the information that they need to make disaster claims in the future, the safety nets that were put in place to provide some support to these hardworking ranchers may be denied simply because of a paperwork error. unfortunately, this is an avoidable problem. like so many in recent years, it's the product of congressional dysfunction. because we haven't passed a new farm bill, the livestock program that helps ranchers withstand losses to livestock herds drew to extreme weather events, the livestock indemnity program, well, that's expired, and the emergency assistance for livestock and honey bee producers program, which is in the yet-stalled farm bill which helps producers stay in business after they ex

did oil-rich bakken shales help bring north dakota's joblessness to half the national average? and emerald oil has been drilling right in the heart of the play. don't miss cramer's exclusive. all coming up on "mad money." man: sometimes it's like we're still in college. but with a mortgage. and the furniture's a lot nicer. and suddenly, the most important person in my life is someone i haven't even met yet. who matters most to you says the most about you. at massmutual we're owned by our policyowners, and they matter most to us. as you plan your next step, we'll help you get there. ♪ [ male announcer ] more room in economy plus. more comfort, more of what you need. ♪ that's... built around you friendly. ♪ >>> on a day when the volatility index, you know it at the vix, also known as the fear gauge, increased 1.92%, what should we take away from this move? was hear a lot about the vix these days, yet there still seems to be a fundamental misunderstanding of how it works. we'll clear that up tonight. you'll see people quoting the volatility index as an indicator all its own. that

. >>> let's head out to north dakota where we find brian sullivan in willis, north dakota.been on the road this week, my dear. >> i have been on the road. my shoes are getting worn out. thank you very much. i think a year ago a restaurant like this probably couldn't have survived in willis, north dakota. not only is it surviving but it's thriving. we're going to have so many success stories if street signs. you know the oil and gas story. there's a lot of other people doing really well here in williston, some of their stories and the year over year change in oil and gas will absolutely blow your mind. if you thought you knew the bakken shale story, the latest live from willis ston, north dakoda. >> the man knows how to work. he can find a bar in williston. >> the best one. >> looks great, man. using your company time for your personal stuff, don't think about it. a warning to you, your boss may be tracking your every move. plus, if you're paying for college, something we haven't seen in 30 years, we'll tell you what that is. the power rundown is next. (vo) you are a busines

snow looks to be north dakota and parts of north central minnesota. it will take time to change over to just snow overnight. by 10am the snow showers there into northern minnesota. >> here is the winter weather advisory. in effect for those spots that will get the snow. otherwise it's a frost advisory. tennessee, kentucky, ohio, wisconsin. we'll start at 50 for new york. in the 40s - it will get cooler in the week ahead as we get a few rounds of cold air coming in. >>> welcome to al jazeera with the top stories, i'm jonathan betz. >> florida law enforcement captured two killers who walked out of prison with forged documents. walk where are and joseph jenkins had been serving life sentences, police are investigating who created the forged documents and how the prisoners got them >> tragedy on the tracks of the san francisco bay area system. a train struck and killed two maintenance workers this afternoon. union operators are on strike, the train was reported to be on a routine maintenance run. officials insist it was operated by an experie

. >>> and anger in north dakota. environmentalists demanding answers on how 20,000 barrels of oil leaked there, and why it took officials two weeks to reveal the problem. >>> al jazeera continues. we're back with you in two and a half minutes. del walters will be here. what happens when social media uncovers unheard, fascinating news stories? >> they share it on the stream. >> social media isn't an after-thought, it drives discussion across america. >> al jazeera america's social media community, on tv and online. >> this is your outlet for those conversations. >> post, upload and interact. >> every night share undiscovered stories. >>> the debt ceiling is just three days away. the senate and house both tried to reach deals to make sure the government does not default for the first time in u.s. history. >>> more than 100 people are killed in india by a stampede on a bridge outside a hindu temple. this morning there are new questions about what caused it. >>> another car bombing rocking syria for the second day in a r

the oil came from north dakota. it was extracted using fracking. that involves forcing oil out of the ground by injecting chemicals and water into it. the shale oil is then loaded onto trains in bakken in north dakota. they then travel to refineries on the east coast. they are like a pipeline on wheels. so, did the by-products of fracking produce the explosion on that train? residents are suing the oil companies. >> many companies have added chemicals to the salt water, like benzene, butane, lead and heavy metals. all toxic chemicals. that leaves traces in the oil and when they are present in such train cars, they can make them far more volatile. and that would explain such a high yield explosion and intense fire, which crude oil would not. >> raymond lafontaine received many calls. telling him to keep quiet, accusing him of hurting industry. lafontaine has made himself powerful enemies. >> i don't want revenge. i know that i've upset a lot of people. that i've angered a lot of oil companies. but i want to speak up. that's my job, that's my goal. i

i base that on a similar case in north dakota, on spirit lake, in north dakota, they closed two of the eight precincts in the county and they closed all but one in the courthouse and the court granted a preliminary injunction and cited a whole bunch of factors, including the one in montana, the indians had a disparate socioeconomic status, it would take them hours to get there, so the court ordered them to open up the two precincts on the reservation and i'm inclined to believe that is the ultimate result of the current case. >> all access to polls ari says, native americans shouldn't be left out because of where they live. elaine says, please don't let americans whine and blame themselves. exampl -- stamp versus satellite voting. what is your absence to that sarah? >> you can drop that ballot at your local polling place which is close to where you live because it's in imlur precinct -- request your precinct, so we have a very accessible way of voting in montana. we have numerous ways to vote by convenience. what's interesting in this case, we have so many different way a montanan can

in fact, here is a quick 24 look at how the snow overnight into the morning will be around north dakotand scattered showers for north, north-west minnesota. minneapolis snow in the air. it will be anywhere from a trace to two inches in parts of central north dakota, but the higher amounts will be in the higher elevations. the colder air coming out of canada, south of hudson bay. the bulk of the accumulation tomorrow at 10am. you'll see that. we have a winter weather advisory impacting this area, otherwise chilly temperatures are the story. warnings of not necessarily being issued, freeze warnings, for that period of time, for parts of wisconsin. tennessee and kentucky have frost advisors. expect chilly temperatures, dropping into the 30s, 40 for chicago. you'll be cooler. staying closer to the water on the atlantic. we'll be on the cool side. we'll get highs for new york into the low to mid 60s. >> a massive fire is burning in canada after a train derailed and exploded in alberta, near the town of gainford. the train was carrying lik qidied ammonium. gainford was evacuated. this is the

. >>> the oil and gas boom in north dakota and texas isn't just benefitting the heartland. it's also creating jobs in phil mile at a shipyard. that and more tonight on "nightly business report" for friday, october 25th. >>> good evening everyone. i'm susie gharib, tyler is off tonight. more positive momentum on wall street today. the s&p 500 closed at a another record high, and the pmajor stok averages were higher for the third consecutive week. two tech companies were the talk of the trading day. amazon surged 10% and shares is of microsoft shot up 6%. investors brought up the stocks reacting to quarterly results that came out late that we told you about. here is a look at the closing numbers, the dow rose 61 the nasdaq rose 14 and the s&p tacked on seven closing at that new record 1,759. >>> so with the s&p at a new record and the nasdaq closing in on 4,000, it may be getting tougher to find some real value in the stock market. but as seema mody found, there may still be some value plays out there. >> reporter: it's getting tougher and tougher finding value in this market

an early winter blizzard in north dakota and tropical storm karen is moving in on the coast. it's day five of the government shutdown with neither side appearing ready to budge. both the house and senate will hold weekend sessions, but there's little chance the stalemate could be resolved today. thousands of federal workers are still furloughed and museums and parks across the country remain closed. >> healthcare.gov is being radar. the site launched tuesday but had millions of consumers complaining because of technical glitches and delays. they say it happened because of the high volume coming in. the enrollment functions on the site will be unable during off peak hours. immigration activists are taken to the streets to voice sport for comprehensive reform. rallies are expected nationwide today. those are the headlines. consider this is coming up next. for news updates all day long, head to aljazeera.com. [[voiceover]] no doubt about it, >>> there are many bills to reopen parts of the government to make sure federal workers get their back pay. none are expected to oh get thr

. ♪ come sail away come sail away come sail away with me ♪ >> the oil and gas boom in north dakota andas not just benefiting the midwest. it's also adding jobs right here in philadelphia. and you will not believe where we are. we're in the philadelphia shipyard and we are right now on top of goliath. we are more than 200 feet, hello airplane, 200 feet in the air, get a shot of this. that is the liberty bay. we are high up here, folks. the reason that we're showing you this is that ship and these jobs, direct beneficiaries of the shale gas boom. because this shipyard is a contract to build six oil tankers. this one more than 800 feet long and can hold nearly 800,000 barrels of oil. it's being built here in philadelphia. it's going to be floated next week and going to be put into service taking crude oil from alaska down the united states west coast. more than 1,000 women and men working here at the philadelphia shipyard. as soon as she's done you will get some -- if we can get a shot of the next ship. see the hull bits going in. they're going to put it together like a giant puzzle. thes

a wheat farmer found the leak, nine miles east of north dakota. it's owned by texas based tesora. workers say it's contained, but residents are furious, saying they should have been told about the spill. the leak is believed to be smaller. >> farmer congress woman gabrielle giffords and mark kelly, her husband attended a gun show. gabrielle giffords was injured in tucson in 2011. 15 were killed and 11 others wounded. she is joined by eric schneiderman. >> talks between the san francisco bay rapid area system and unions are expected to resume. theionions -- the youngions are asking for a labour increase. workers walked off, but governor jerry brown forced them back. >> at least 2 million muslim pilgrims are expected to take part informant hajj. many arrived in mecca. the pilgrimage is the largest gathering of muslim people in the world. this year many say they'll pray for peace in egypt and syria. >>> we are dealing with quiet whether from much of the nation. there are a few problem areas. i'm watching a cold front making its way east. we are finding the active area across texas, w

up in north dakota in the williston area.th dakota, 900,000 barrels per month that is highest ever. keeps breaking records month after month. we had another play, con anyone tall resources of the we took profits but asking people to buy this one. makeing a technical breakout. revenues up year-over-year, 5% quarter over quarter. here is interesting thing, cap-ex, what they will spend on drilling, billion dollars for fiscal year. in 2009 they spent 27 million. imagine that you go from 27 million, to a billion dollars. they got 195,000-acres. all of this is low-risk stuff. they will be hitting it one after another, one after another, one after another. i think the stock will go to $20. dennis: kodiak moment. clearly. >> yeah, definitely is a kodiak moment. lori: how are they able to increase the drilling and exploration by such a huge amount? what is the motivation? obviously they have done their research. >> they have done their research. there is guy harold ham who runs continental resources. he is one who went to north dakota

in the world of college hockey, university of north dakota, it is a big deal. sioux, one of the top college hockey programs in a country, big arena, 15,000 seat arena. the ncaa passed a rule and said they were going to start penalizing teams, not allow them to competition if they had offensive names. so the fighting sioux had to long protracted fight and all came to a head basically last year where faced with the sanctions, they put this to a vote, and they put this to the vote in the state of north dakota and 68% said, no, let's get rid of the name. the university of north dakota is looking for, they have until 2015, to come up with it. they don't have a nickname now. it is no longer the fighting sioux. that's an examine where once you explain the issue, people's minds changed on it. >> the idea that the team names honor american indians and alaska natives, i think that's wrong. if you see what george marshall, the first owner, george preston marshall said, what he did as the first owner, he created this team name, and he was -- as was said earlier, he was an

it's called boom town wild west about formerly sleepy williston, north dakota.rected by greg lee and steven cahill. greg, 160 years ago we had the gold rush. this boom is all about oil. > >all about oil. it's amazing what's happening in this little sleepy town. it's just turned over. it used to be 2 years ago about 13 thousand, and now it's almost 30 some thousand people. > >and that's dramatic for you. you grew up there. you remember what it was like when you were a kid. > >yes. i was just this really quiet little mayberry like the guy said. it really is amazing. people really don't know what to do in some of their cases. they've had to leave town because it's too---they can't afford to stay there anymore. > >i've heard that some stores---retail shops---have had to fly in employees because the employees can't afford the lifestyle. > >right. and there's no housing. well, there is housing. they're working crazy buidling homes right and left but they can only do so much. > >i can anticipate your answer here but i want to hear you articulate it. why is this such a