. >> destroyed purely by oil and natural gas. the big deep canals brought in the saltwater intrusion, and then they abandoned the canals. and when they abandoned the canals system all it takes is one 5 foot pass, and within 5 years' time it's 300 foot wide, and the saltwater goes in and out in and out killing everything all the vegetation. >> just a couple of generations ago, the island was 11 miles long and five miles wide now 99 percent of that land is gone. >> you can look at a satellite photography of a disappearing coastline, disappearing like a moth-eaten cloth, and you can see the straight lines of the canals and channels that they've scissored 10 thousand miles of them, through that landmass, contributing to the erosion... >> the scale of land loss is so extreme that louisiana is trying to reverse the process ...with projects like this. >> this is what's coming along this pipe. this is what they're sucking up, and bringing out here. >> sand from the bottom of the mississippi river. >> everything we're standing on is we're

we've brought some fish-oil capsules. these are the standard fish-oil capsules with their 1,000 milligram. >> anybody who takes fish-oil product knows this product. >> exactly. or you can take this small omega xl capsule, which one of these is equivalent to 10 of these. let me pour 10 in your hand, larry. you'd have to take all 10 of these to get the benefits of one small omega xl capsule. so, women and children and men -- nobody wants to swallow 10 minivans, if you will. you can have one. >> well, how can you get all this in this? >> well, i think the doctor can answer that -- why it's such a unique formulation. >> the difference in the quality of the oil is the extraction process gives us something called a free fatty acid, which is the type of fatty acid that your body can utilize. whereas in this fish-oil capsule, the reason it has to be so big is that this is the triglyceride form, which means that it's bound and your body can't utilize it readily. when you take this, this is just fatty acids that can go directly int

but there is also the factor that saudi oil is heavy-medium oil, meaning it's sour oil. they are not the same people dedicated to producing the light, sweet crude that's produced in the oil sector, for the most part. so if you offer discounts to asian consumers at large so that they become beholden to your type of oil and they build refineries specifically dedicated troo processing your type of oil it's going to be harder for them to switch to somebody else's oil down the line. so it makes sense to keep the price a bit lower right now so that asian consumers build up refinery capacity for medium and heavy sour sulphur rich, saudi type oil, and you try and guarantee your market down the road when you will be putting on the brakes and sending prices back up. okay, this is kind of thinking about the supply and demand side of the market, but there are other factors that we need to think about that i think people don't often like to consider. and that is that the saudis, the qataris and their friends in the gulf on the sunni side of the aisle have created a monster. by fundin

dirtiest oil in the world. the canadian -- they are actually paying the tax in the event that there is an oil spill and they don't have to pay to that fund either that american companies do. and then, there are ads on television saying they will keep the oil in the united states. they bitterly object to any provisions being voted here that keeps in the united states. they want ads on television saying lots of american energy independence and that is the goal, but you cannot have it both ways. life is not like that. you are going to export it but you cannot have it both ways. do one thing on television and another thing in real life and say to the senate, please, do not put any restrictions on our ability to export this oil. so that is the challenge for us here. by the way, one other thing. we keep the oil here in the united states, that is going to keep up pressure to keep the price of gasoline lower because of the more oil we had here in the united states is going to lower the price of gasoline. every time the

there's oil. geneivieve: the oil flowed down the street through a drainage ditch and emptied into a marshy area. the heavy crude had come from alberta, canada, thousands of miles away. tom: what are the booms for? geneivieve: they are to soak in the oil. they are supposed to -- tom: literally? geneivieve: yeah. literally -- tom: that is what they are for? geneivieve: yes. they are supposed to repel water and soak in oil. betty: steyer had come to mayflower to gather ammunition for what may be the biggest you for what may be the biggest fight of his life -- trying to stop the keystone xl pipeline from being built. steyer worries more leaks like this one in mayflower could a happen. the proposed keystone pipeline would stretch from the canadian border across the u.s., and connect to existing pipelines that carry oil to refineries on the gulf. steyer says the oil would be sent directly to the international market. tom: it is not going to the united states. what the true argument is, it is going to be

we talked about the oil market for the outlet on oil. i asked given the current pricing environment, how that is impacting his investment strategy. >> it's a world of luxury. we've been in $100 oil for three or four years. it's an unusual period. we're back in a normal world of volatility of oil and gas prices. we're down now today, as of friday $54 brent, $44 in the united states. this is a huge shock f o cost structures are going to have to move and change. taxation is going to have to move and change. it's going to be very painful. >> reporter: incredible buzz surrounding this investment conference here in egypt. there are still questions about security. they want to know their money is going to be safe in this country. president sisi saying business is still open. for "nightly business report," i'm hadley gamble. >>> joining us now to talk more about oil is samir samana with wells fargo investment institute. good to have you with us. welcome. we promised at the top of the broadcast that you'll tell us what happens next with the price

bring in tar sands oil which has caused terrible problems for communities, the hardest oil to clean up why would they do it and why would they go against public attend -- opinion? a recent "washington post" poll showed that 61% of americans support the president's position on this pipeline which is don't stop the presses, keep it going. let's see what this does to our people and to our communities. you know i spend a lot of time on environmental issues and i am saying to you that as you look at the environmental laws of our great nation we find that they have brought such a better quality of life to people and we can turn that around if we decide at this point with all the challenges we face to our community, the challenges of lung disease, the challenges of heart disease, the challenges of stroke. that's what happens from the pollution we get from this tar sands oil. i said before misery follows tar sands. i met with the canadian people who live near the tar sands excavation site. they have terrible rates of cancer. so bottom line because of climate change and we see it all around us.

of oil. headlines begin a military operation in bombing in yemen, there are reports of ground forces on the borders to the north of yemen touches saudi arabia, the critical issue for the oil markets. nymex is up 3.6%. brent has been rising for i've days, we are up 3% at $58, $.25. i want to show you a map of why we care. it all comes down to this, the critical geographical point of where oil travels, 3.4 million barrels of oil. the bottom left-hand sign of the screen. that is where 3.4 million barrels of oil go out every single day. if conflict arises to the south of yemen, that is the geopolitical risk at play in the markets. your rent up 3.13%. nymex up 3.5% to one dollars for cash, rounded up. gold is also up, 11.99. we did make it above $1200. the longest stretch of gains since 2012. geopolitics causes deep rooted concern. yen is ranking against every major currency that we cover. this is dollar-yen, 118.88. that is the wrap on the markets indicated lower on equities, oil is rising this i

what about between oil and gas? >> the gas market is suffering from high inventories and strong production growth but it's starting to look more interesting as we move into the second half of the year. particularly in 2016 because we do think that the fact that oil prices are coming off so sharply in the u.s. will of course have an impact on drilling and oil production and associated gas production. we expect by 2016 to see gas production decline which will be the first decline in a decade. a lot of demand growth and energy exports entering the market at the end of the year so we do think u.s. natural gas is starting to look more interesting in 2016 and we could see prices trade back up above $4. >> great stuff. thank you for joining us as ever. senior director at global commodity strategist at bank of america meryl lynch. >> he has criticized his australian counter part for playing to stereotypes and exaggerating ireland's drinking culture. he called on people to have one or two or three to mark the holiday. speaki

oil what happens here? oil probably if i look at brent and i think that's what you look at it doesn't go through these numbers. in other words we hit the lows in brent. that's controversial. the commodity complex does concern me because the rest of the commodity should have been rallying. it was also down and a lot of people are waiting on the fed. >> some of the negative data points that the fed won't be that quick to huge. dollar obviously cooperate ad little bit for the bulls. i still say as long as the iwm stays above i'm with pete on health care. i understand where there is froth but the evaluations in these names is still reasonable. health care one, some bank names, goldman sachs, that stock goes higher. >> the dollar is down 1% today and s&p was up 1.5%. when you think about that relationship seems odd to me. seems like a lame excuse. to your call on crude might bottom, a lot of head fix there. people get excited about equities right now because of the weak dollar well we've seen sort of head figure

the world's oil markets took notice. oil prices spiked. ali velshi joins us to tell us what it could mean for supply and demand and your walt. it's "inside story". >>> welcome back to "inside story" on al jazeera america i'm ray suarez. on tuesday we focused our programme on yemen's deteriorating stake. houthi rebels controlling the capital sanaa and large chunks of the country and have the government on the run of the saudi arabia joined the fight against the houthis with air strikes. our guest, former ambassador to yemen saw the escalation coming. >> there are outside players. primarily saudi arabia and iran, who are turning it into something of a proxy war. so what you have are at least three players, maybe more, who are taking advantage of the inherently weak yemen. and all of the political crackvacuums to play out their battles. >> egypt is prepared to join the fray saying it is prepared to send ground troops. iran renounced the moves. president hassan rouhani said regional powers should restrain from actions that would intensify the

we are moving our oil, producing our oil, buying for my friendliest neighbor and our ally canada, and it makes us more secure it as a nation. i have heard all arguments. oh, my goodness. we cannot do this because it will come straight down and go out. they make you believe it is going to come out to be taken to another country and we get no benefit at all. well, we had a press conference maybe two or three weeks ago and we had the prime minister of canada. we had the premier, we had everybody there who agreed that that will not happen. you can't anyway because they need us to refine it. they would be subjected to the same rules and regulations as are commerce department puts on oil in america. that no crude will be exported unless we change the law. that prevents that from happening. that is a misnomer. , they say they don't pay that percent. well the 8% is into a spill fund. they have agreed to do that. they said, wait a minute. this will not be built with american steel. yes, it will be. they agree to that. everything we asked for, they agreed. we can even get our site to agree to m

so much for the oil recovery folks. oil prices down to $45.13.ore than 4% drop for crude oil. the number i want you to pay attention to $44.45. that is the low for the year. that is what was hit on january 28th. we've got about, i don't know 28 minutes left of the nymex trading session. we're going to watch oil and that number. melissa lee joining us from the nasdaq. you have a big hour at "fast money" at 355:00. we have a big hour. >> we are selling here at the nasdaq. it is the best performer of the major three indices. the nasdaq is down by .9%. mylan labs pulling back. vmpelcom and mattel rounding out the big losers. apple down a little bit more than 1%. amazon netflix and intel continuing the slide from yesterday. take a look at what is helping to offset this brian. this is one of the reasons why -- these are three of the reasons why the nasdaq is doing the better of the three major indices. microsoft into positive territory. up by 1/4%. february lows for microsoft as it trades at $41.13. take a look at oracle ahead of earnings. oracle is su

an oil patch play. this company is widely perceived as it sells anything it's more and more an oil company and oil service companies, when you see schlumberger, and haliburton that's not where you want to be. >> let's get bid on the record. tad smith leaving. >> he's so great. that guy is a very, very smart guy. everybody loves tad. he's just a remarkable guy. he is going to help sotheby's. >> robert frank arguing that the art world needs to get to know him. >> they'll know him and love him. he's just a smart man. >> on oil, the u.s. may soon run out of storage, and when that happens, do you still see 42 holding? >> look, that is the big issue. the refineries are running full out. could use all the gasoline that they make. it has to do with the backup of cushing. there's no real place to put it. really putting a lot of this crude from canada that we thought was going to come through keystone it's going right through ambridge. there's so much from actual mexico coming in. it is a case of storage. watch t

we talk about oil. you're happy to hold some of those oil services names. europe.ks about money supply on monday. give us the bull case for europe. manish: we saw the lending numbers come out yesterday. very good. you are seeing the lending to nonfinancial companies the real economy, has gone up to 11 billion in february numbers. this is a very strong number. there is volatility but if you roll out a volatility and take the average, there is a strong number since many years. vc money being lent to the real economy. on the flip side, you see that are used to holding these free assets is covered bonds, are at a negative number. caroline: but is it the right parts of the real economy? are we getting access in cash? once again, the big, strong safe corporate -- manish: i think we will look beyond the numbers and see if that is the case. when you look at money supply and money velocity -- [indiscernible] we have not seen this before. there is a negative number. now we are seeing a positive number. i'll go ahead and make a point that if the inflation number picks up grea

. >> reporter: an attack on libya's oil facility left it inoperable one of several oil targeted in recent weeks, most linked to islamic state of iraq and levant. they destroyed equipment at an oil field on wednesday. wednesday, a pipe line carrying crude came under attack. the facilities were hit last month. 14 were killed at an oil field. in a company plagued by war, the oil industry is a prime target. production falling from 1.6 million a day. there have been so many attacks in recent days that libya's national oil confirmation says it will not fulfil the accountants. it may close the fields and ports, if the security situation

that's bad news for oil prices. it means they could slide further. for "nightly business report," i'm jackie deangelis. >>> some investors may steer clear of buying stocks in the sector but as morgan brennan explains there are investment opportunities to be found if you know where to look. >> reporter: as crude oil stocks renew their slide, they renew. worst performing in the s&p 500 today. as oil continues to fall and oversupplies deals in the sector that shed nearly 20% since september. >> we see good opportunities in the energy right now and, you know frankly i think the price is unsustainably low for crude oil. so we are advising investors to make long-term decisions and over the long-term, say off year plus. it is a good time to buy energy stocks. >> reporter: one group already returns, refiners. that haven't just outperformed other energy stocks but the s&p as a whole this year. why? oil refiners benefit from lower crude prices that mean lower costs. resulting petroleum brent crude, the international benchmark, valued higher. experts say it's n

talking about $20 oil.s if we hit it not only to the oil companies that alternative energy company? i will talk specifically to john hofmeister, citizens for affordable energy ceo. also, former shell oil president . what is going on behind the closed doors in the big boardroom? mark: if anyone knows, he does. stay with us for the continuing this on oil. scarlet fu will have the number on the charts after the break. ♪ ♪ mark: crude oil hitting a fresh six-year low today. scarlet fu dickstein for to reveal what kind of stress is coughing another -- in other energy assets. she joins me here in that. this story is one that will just not go away. scarlett: crude oil tumbled last year. it came to take everything down periods of uti -- wti now below jay ratliff. what we want to show you is the bloomberg high-heeled energy index. it tracks publicly traded noninvestment rate in the energy. the big drop in december. the thinking was the rapid drop would be production cuts, reduced income on cash flow at highly levera

rockerfeller's oil. rockefeller was evangelical in his view of oil. besides deeming his extraction of crude providential, he believed it was acts of redemption expected to rescue the oil business from chaos. the christian certainty gave him a capacity to think in strategic terms. but also a messy self-righteousness of the mortals who made the mistakes of standing in his way. the mortals clawed back with moral critique. a journalist is a woman who destroyed the standard trust. what is less appreciated is the degree to which in this moment tarbell's actions grew out of her wrestling with god and her ghosts of her youth. i don't have time to walk us through her history of fascinating biography. someone who was raised in western pennsylvania in oil country, to methodist parents. someone who took her methodist faith quite seriously. she in fact was very much part of the shitauglynn movement just a few hours away in new york. in western pennsylvania, her father was an oil man whose spear was crushed by the rockefeller machine. she started to look at journal

>> i think oil is in a stable spot between 45 and 50, if you look at charts of oil, in particular, this suggestions we're locked in as long as we're locked in with some form of sta billy the markets will bounce off. >> do you think that feds should raise rate? >> i will trust whenever they want to do, i am not an economists. >> all right, thank you very much, back to you tom. >> thank you. here to help, our investment pros, dani hughes, and scotti neil hughes. hitha herzog, and matt mccall. let's dig in to first real deal, matt, the volatile every other day we get these big moves. >> i think this continues, we go back and forth. not a lot of big news today. the fact that market closed near the high is bullish in my opinion. there are more buyers than sellers, we have a little bit of a pullback last week, 3% from all-time high, we bounced off that. i think we hit a new high in phoenix two weeks, and -- in next two weeks, you look at healthcare, biotech stocks breaking out. >> are we just charges down the same path? >> we seem to be charging down. there is a lot of volatility, health care

american oil companies? been a prediction of an implosion of high yield energy paper that was out there and then there is the equity market. do they come right down? do they correlate? edward: they don't exactly correlate. there are good companies and there are companies that are overleveraged. if you look at the basic data on u.s. production from shale, it is about 70% of the production coming from 30% of the companies. 70% of the companies produce only 30% of the output on the other side of it. tom: andrew mellon talked about combinations. can american energy commodities be stronger because of the combinations that we know are coming? edward: i think we are going to see the stronger companies coming out. the costs of shale are going down. the companies as a whole, have been a negative cash flow. some have already gotten to the next step area did -- the next step. after this is all over we are going to be seeing robust, but significantly lower growth of production in the u.s. it is going to continue for a l

slashing in oil prices. so their timing couldn't possibly be worse and of course coincides with a drop in copper prices as well. >> are you expecting any of the majors to cut their dividends starting with exxon? >> yeah tyler. i don't think so. especially not exxon. i think they have a fabulous record. chevron also should be able to hold up their dividend as well going forward. many of these companies have their capital expenditure greatly reduced going forward. they're doing a lot of large building in terms of their production operations over the next year or so. but that really falls off in 2016. they can get to it this year. be fine. i think most of them will. the one with potential risk is bohnshe but certainly conoco and exxon and chevron, nothing on the dividend front for cutting perspective. >> what are you expecting in terms of oil prices? because that will determine the bottom lines of many of the companies we're talking abou we close tore a bottomr to a bottom you think or dramatically lower prices

in the oil sand.y recently announced a $500,000 loan that too shallow to work on a project to help reduce carbon dioxide in the air. they are going to take that carbon dioxide, sequester it. up to 100 million tons a year. so the united states is working with canada. we'll bring in the debate on the president's climate agenda and looking at technology, not necessarily regulation. >> it is going to be an interesting debate. what i do with my rents in the cool states is invite them down to saskatchewan. -- my constituents in the coal states. we will take american electrical generation from coal from 38% to 30% i-20 30, if those regulations pass. if they do not, it will still bump around based on the market. when gas went from $11 down to wonder three, there was a loud of substitution of gas into the electrical grid. it was a market-driven decision. all of you are right about: in the united states. if last winter is factored in, if we have a another increase in the gas price without regulations, are going

they were a well-oiled machine. but in june of 2012, something went wrong. >> i wasn't feeling, you know, up to par. you know when something's not right going on in your body, so that's what kind of triggered me to go in. >> announcer: rod scheduled a colonoscopy and received the results the following day. >> [ voice breaking ] and the doctor came in with this very serious look on his face [sighs] with some pictures and said that he found something that he's pretty sure that it's cancer. >> the first you think about is your wife and your kids and your family. you think about what would life be like for them without you. >> announcer: with his family in mind, rod had surgery immediately to remove the cancer. after the surgery, they discovered the cancer had spread to his lymph nodes. he was told he needed a second surgery that he felt was too invasive. >> and it came back after my follow-up that i needed a second surgery. and that's when i said i need a second opinion. >> announcer: rod got that second opinion at can

the trend is for oil to go to $20. what happens to the oil industry if it goes to $20? >> it's a classic cycle unfortunately. so so much money has piled in to the oil match over the last 5, 6, 7 years and much of that money is going to get destroyed. it's very typical. we had it in everything from railroads to internet. so the problem is so many of these company versus to shutdown production and the economic damage from that both in terms of loss of wealth and also loss of production is significant. it's not the end of the world but it's something that could create larger problems for the rest of the world. it's not only just the u.s. that has had a big oil production boom. so many other countries will get caught up in this. >> will we see the damage from the industry impact overall corporate bonds? >> will we see it trickle through? >> yeah, one of the reasons why that happened is you were talking about financials before we came on the show, they have money to oil companies so at some point the banks are going to suff

let's also look at oil price because it hasn't been a good week for the oil price.last couple of days but because of the positive move we're correcting again today. wti 50.2. down 2.4%. brent 58.1. down 1.8%. that's following a move upwards yesterday. >> the price of oil back on the slide after those sharp gains following the launch of air strikes in yemen by a saudi-lead coalition. the military assault would have only a negligible impact on supply. yemen is a small crude exporter but sits on the bab el-mandeb straight. it struck an air force base five kilometers from the oil field. hadley joins us on set. what does this move tell you? the air strike against the forces tell you about saudi arabia's foreign policy? it's one of the first foreign policy decisions made. >> it does indeed say something about how overt they're going to be in terms of using their military and this is not something we have seen from them in the past and of course the defense minister a young man, he's speaking to a senior member of the audi royal family here in london yesterday and telling

is about the oil glut. when you look at where we were back in march of 2009 well wti is down at the same levels. wti production is way up. we have nearly doubled production. and the most recent numbers go back to december 2014 from eia. we've nearly doubled since that time. that's a lot more coming onto the market from the u.s. that's why wti has not held up as well as brent crude on the international market. back to you, sayre. >> thank you very much. watching the oil trade. new clues to housing. diana olick is in washington with the latest read for us. diana? >> well, that's right. despite the warming weather the march home sentiment is not a good one. sentiment is down two points to 53. 50 is the line between positive and negative. it's better than 46 which is where it was a year ago, but this is the third straight falling build of confidence which started at a high of 59 last september. of the three components current sales conditions fell. sales expectations held steady at 59. so builders can continue

oil just plunged. olivia: we also have the feeling of the prophecy of jeff, saying if we see oil state down at $40 he thinks interest rates will go to 1%. tom: that is the linkage, debt on. the linkages are tangible. brendan: german investor confidence missed forecast. tom: i am not -- olivia: i am not worried about frankfurt. the dax is up. our twitter question, we want to know what you think. how does cheap crude affect janet yellen? an fomc meeting this week and we get the statement tomorrow. tweet us. ♪ tom: good morning. oil south. not near the $42.85 west texas intermediate but we are getting there. the yield, two point -- 2.075%. brendan: in israel, the race is too close to call. polls show benjamin netanyahu's likud party trailing isaac herzog's finest party. -- zuioionist party. iran sending weapons to fight islamic state in iraq. there are concerns the weapons are not precision guided and could harm civilians. iraqi forces are trying to recapture tikrit from islamic state. house republicans s

caroline: the oil stocks and the oil service company.e seeing the standout performer on the shares this morning. it is outperforming. the reason is the concern about the bombings in saudi arabia and the allies. oil is up already and stocks are up. if you are looking at the long side of things, look at one of the poorest performers. they plan to let go of 17% and he ends up offloading 22.5%. you see it down and it is about liquidity. it is more tradable amounts of stock in the markets and you see it rebounding and longer terms. there is another fake sale and this is offloading statke. we are seeing it at 23 and at the lower end of the price range. they managed to raise 1.4 billion pounds and they say the shares have been near a record high for the london stocks. the chairman said it would be appropriate to monetize and cash in. back see you. jonathan: thank you. shifting gears. the bbc has dropped jeremy clarkson after an incident with a producer. is there a top opportunity? he thinks so and he joins us to join -- to tell us why. first qu

what to do about oil and those oil stocks. let's get to our business news update. with the headlines. >> here is what's happening this hour. officials have released the names of the seven marines who were killed when a military helicopter crashed off the coast of florida. that occurred tuesday night. a salvage barge has been contracted to complete the recovery of the aircraft which went down in a thick fog. >>> lobbyists say top house republicans and democrats are working towards a $200 billion agreement revamping how doctors are paid for treding medicare patients. the deal would end a formula that for years prompting lawmakers to block unrealistically deep cuts in doctors medicare reimbursements. >>> john brennan speaking in new york said social media and other technologies are making it increasingly difficult to combat militants who are using social media to share information and conduct operations. >>> and four years after the nuclear disaster in japan workers in fukuishima are finally moving contaminated soil to storage facilities. the government launched a pro

oil exports that's been in place since the oil shock of the 197 o s.. take a listen. >> exports would expand all supplies driving gasoline prices down, and the savings are at least 7 to 12 cents per gallon. with exports, u.s. refiners still have all the light all they need. they will still have an advantage over our competitors elsewhere due to shipping costs. >> the critics say nonetheless if the united states ended its ban on oil exports, part of the unintended consequence would be higher prices here in the united states, and also it could shift vis-a-vis, saudi arabia a poke in the eye to them something the united states might not want to do in the short term, guys a big debate on capitol hill. no chance politically this is going to change any time soon, but the fact they are discussing it tells you where we are in terms of the oil glut. >> all right, thank you very much. powerful debate. hearing from spokes in spokane, it's 11 not noon i screwed that up. thank you very much. >> you bet. >> check out the names in oil, oil-related stocks in the s&p 5

there are national parks with oil and gas resources. that is not the place we should be developing them. i do not believe we should go oil and gas in the arctic national wildlife refuge. the president agrees. that is the recommendation we are making to congress. this is applying science understanding other uses of the land the impact of the energy development, and trying to chart a course forward that says let's go to the areas where there is limited or no conflict. so we are working in moab, utah with mass releasing plans, and we are engaging local communities in that effort. we have done it in the national petroleum reserve, we are doing it in the california desert. it is really working. and the community is engaged. mr. verrastro: those are good solutions. when i was in the private sector, there was one proposal to in case the offshore rigs with members so that they would not be visual pollutants. we thought that was a bad idea. one of the reasons we invite you all, is that the secretary has agreed to take some questions from the flo

have we finally seen a bottom in oil?t's the big question. >> i think impossible to say if we have finally seen the bottom. what i do think have been interesting is oil prices have been responding so much to the u.s. dollar rather than fundamental supply and demand. >> wraeyeah. >> of course we have seen a high level that's seen the sell offs back down to the 6 year lows we saw. they're responding to financial markets in the last two weeks rather than the fundamental supply and demand of the oil industry. >> the kingdom is now pumping about 10 million barrels a day which could indicate an increase over february production. doesn't seem like anyone is cutting oil production. >> exactly. whether we're at the exact bottom or not is hard to say. but if we rewind to that interview we had here ten days or so ago he said we expect a very painful period for a long time to come. maybe we'll see fluctuates in and around 2 or 3 or $5 moves. >> but in the meantime we should point out that the rebound, the slight rebound we have seen

tds really down oil prices. the measure includes oil prices. it excludes fresh foods but includes oil. wages are picking up. the labor market is really tight in japan. it is going to be a tens tense few months for the b.o.j. you expect to see inflation picking up. the 2% target still looks pretty optimistic but we certainly expect to see inflation picking up in japan as we would in other places. jonathan: the global scene has put a -- on bond yields. we go low, low low. we follow the inflation rate lower. is that the right trade to make then if you're expecting inflation rebound? >> weary about how low yields have gone. you need to distinguish between what is going on in the u.s. and europe. a lot of downward pressure on inflation. in the u.s., the inflation numbers that we had out this week were up a little bit. 1.7 versus 1.6 previously. wage pressure starting to emerge. you see this in the trucking sector. increase in minimum wages on the card. all of these things are putting some upward pressure. this is not an inflation scare. you need to

when oil prices ran up. at an end of the data as contracts end duhduhduduh up being much better for us economically because we locked in several years at a time. oil and gas prices were high and electricity rates went up. that is an illustration where we as a business could help support renewable energy. the states but typically have those renewable facilities where states where there was some kind of renewal energy standard. it was an expectation that utilities have a certain percentage so basically it was a requirement that they developed it. if you mary that incentive or expectation from a state with a willing buyer and there are lots of buyers that want to reduce their carbon footprint you have a situation that actually drive the costs down for those technologies because more people get into it. and where we get solar panels on our roof and which ones, which states they get to and they have to do with national a state incentives to support energy development and we accelerated. we did 11 one year because

it was oil related. some of the investors who came from oil oil rich companies backed away.state asset class in a way to invest in it. >> i have more breaking news. of course, i do. and you're never going to forgive me for killing your title. at pwc. rich, thank you very much. good stuff. getting more breaking news. federal reserve chair janet yellen about to make a statement. we've been seeing mixed economic data with a lot of indicated growth. she's saying basically there are no rush to raise rates. the fed may have dropped its patience guidance. proceeding cautiously. peter. >> yellen again the first increase in the short-term interest rate. the fed fund rate. and reiterates once the fed moves, it will be gradual. in a speech, she says, quote, with continued improvement and economic conditions and increase in the target rate for that federal funds rate may well be warranted later this year. she also says the fed does not have to wait for inflation to hit its 2% target because of the lag effect on fed policy. quote, i would not consider it an improvement until we have reac

oil price. the oil price is the most important thing for nigeria. >> but there are a lot of question marks as to whether the outcome of these elections what actually hindered oil production in the delta region because both sides they're actually warning about impeding growth oil production there. do you think there's a high risk of that happening? >> well, i think we need to put it in context. what people may be worried about what happened in the 2000s when you have the movement of the emancipation impact oil production through oil theft and sabotage. at that point oil production fell by about 20% from nigeria. since that time the oil amnesty. a lot of the components of the group have broken different factions and they're less powerful now than before. i think a reduction of oil is a risk but it's not the same sort of risk as we're facing a few years ago. >> i want to get your thoughts on the currency. we've seen a lot of volatility in the currency over the past couple of months. it seems to be

why is oil up on this news? yemen doesn't even have that much oil. catherine: what captured the markets imagination today is yemen's potential to disrupt shipping. there is a narrow strait that connects the gulf of aden to the red sea. at the end of the day, this is not the number one chokepoint in the world and there are alternatives. oil can transit around the port of africa and north from there. it takes longer, but it's doable. but that's really what the market is looking at. it is yemen's position as a potential chokepoint. alix: when you look at the players in yemen, saudi arabia seems very late to the game. does it create more an opportunity for the houthis to gain more traction? >> that is true. the saudi's have been preoccupied. it would be fair to say the saudi's have been shouldering responsibility for much of the region to make sure the arab spring and its fallout does not lead to more regimes collapsing. they have been dealing with efforts to topple assad in syria. yemen has been low on their priority, but more importantly, the saudi way