the hardest and you know opec produces roughly forty percent of global oil supply and not opec produces sixty percent of global oil supply but it's in non opec that's largely governed by the private companies with all their ph d.'s and high technology equipment and airplanes that fly over you know the gulf of mexico with radio spectroscopy equipment and drill down to twenty five thousand feet below the surface of the ocean it's in that region that supply is declining and you know it's that's where it's in non opec where the decline where the decline is really taking place in fact if you look at that global supply chart him two thousand and five in two thousand and six and in two thousand and seven boys will supply. in the face of rising prices in other words once well crossed forty in two thousand and four a lot of people went to submitted oh we have more supply and this really brings us back around to the whole i'm meant to be economics max because their main view about energy is that higher prices always bring on more supply they just feel that you know an expansion of credit. stimulu

no, i am trying to get -- i am trying to fix the opec issue. so i don't want to show up in too many things trying to give somebody advice or help. >> larry: how much headway have you made there? >> good. i mean, we've made good progress. i think we'll have an energy plan for america before the year is out, and that will be the first energy plan america has ever had in 40 years. i think that will happen. >> larry: so a lot of firsts in this administration that apparently is not popular. although, the reagan popularity was only 41, 42 in his second year. >> yes. >> larry: you are saying good things will come from this. >> well, i am so -- >> larry: you are predicting good things. >> i am focused on energy only. and i know what i'm talking about. and i don't want to -- i don't want to be distracted on other things. >> larry: i got you. you are a tunnel guy. >> that's right. i am on this issue. because i'm running out of time. >> larry: you are going to live forever. >> i'm not going to live forever. you know that. but i've got to get this problem

main group of petroleum exporters has improved its for const for russia's oil supply for twenty ten opec says the export and internal suppliers of russian crude is expected to everett's round ten million barrels a day organization says there is an increasing demand for oil from non opec countries like russia in particular this relates to the new russian supplied from east siberia to asia the russian courage is becoming more attractive in the market but pressure on demand for opec oil the oil cartel expects global demand will grow around one percent next year. let's check out the equity markets to asia where they're trading in the red as a drop in that spectrum output fueled concerns of the pace of recovery in the world's biggest economy and ek is down more than three percent and the hang seng is flat. and here in russia the r.t.s. has started friday is trading session in the black slightly recovering from fancies losses so who have to guess credit to lose more than two percent from the start of the trading session on the r.t.s. and formulas down the one percent from isis will open in a f

main group of petroleum exporters has improved its forecast for russia's oil supply for twenty ten opec says the exporter and internal supplies of russian courage is expected to everett's around ten million barrels a day but organization says there is an increasing demand for oil from opec countries like russia in particular this relates to the new recession blends from east siberia to asia the russian herd is becoming more attractive in the market putting pressure on oil the oil cartel expects global demand will grow around one percent next year. and let's check out the equity markets for us to asia where they're all trading in the red as a drop when you expect tricked out fueled concerns over the pace of recovery in the world's biggest economy the nikkei is down more than two percent and hang saying it's flat. and here in russia equity markets finished in the red as they tracked european and u.s. equities downwards that was after the latest two as data on jobless claims to manufacturing and inflation for abided to fixed picture the economic recovery added moscow some of the biggest lo

main group of petroleum exporters has approved its forecast for russia's oil supply for twenty ten opec says the export and internal supplies of russian kurds are expected to everett's around ten million barrels a day organizations says there is an increasing demand for oil from countries like russia in particular this relates to the new russian blend supply from east to asia russian crude is becoming more attractive in the market pushing pressure on the opec oil the oil cartel expects global demand will grow wrong one cent next year. let's take check on the markets first to asia where they're trading in the red as a drop in the u.s. factory output fueled concerns of the pace of recovery in the world's biggest economy the nikkei is down more than three percent of the hank saying it's fucked. and here in russia the r.t.s. has started fry this trading session in the blacks like they're recovering from thursday's losses so you have to guess managed to lose more than two percent from the start of the trading session on the archer yes then the world's nickel is down almost one percent for my

east siberia to asia russian crew is becoming more attractive in the market pressure on demand for opec oil cartel expects global to munch to grow around one percent next year. a look at the markets and stocks in the u.k. on the rise of the facts time in three days they are being called higher by positive news from the gulf of mexico where he says it has finally managed to plug its leaking oil well at least on a temporary basis company's shares have shot up four percent on the news and the german dax is just tipping in the black the south. and the russian the r.g.s. in the my six are covering from thursday's losses all the major blue chip stocks the solid bucking the trend obstacle to gus and nicole. big stage owned companies and rush are not coming up with the nuff innovative products that's the verdict of the managing director of pricewaterhouse coopers center of in the vacation or pocket correspondent of course up with him at the international forum of industry and innovation in the year olds. we interviewed that some one hundred of the largest companies and russia so it wasn't a sma

main group of petroleum exporters has raised its forecast for russian oil production in twenty ten opec says their exports and internal supplies of russian courage is expected to everett around ten million barrels a day organization says there is an increase in demand for all from up at countries like russia in particular this relates to the new russian blend supply from east to asia russian crude is becoming more attractive in the market pressure on demand for opec oil the oil cartel expects global dimanche to grow around one percent next year. quarterly profit google has missed expectations for the first time in two years the world's top search engine posted net income of one point eight billion dollars for the second quarter the growth in the company's expenses off such a twenty four percent jump in revenue and lists are worried about rising costs as google spends happily on research and development to expand into new products. time to check now on the markets and russia the r.t.s. of the my six off the sour old major blue chips a gaining bucking the upward trend is ross net. and sto

siberia to asia russian kurds becoming more attractive in the markets putting pressure on demand for opec oil the oil cartel expects global to march to grow on one cent next year. and a look at markets now stocks in the u.k. are on the rise for the first time in three days they have been told by positive news from the gulf of mexico says it has finally managed to clock its leaking oil well least on a temporary basis company's shares have shot up four percent of news and german dax is just. being in the plot itself. and in russia they are chance in the my success in the red among the biggest losers on the r.t.s. thoughtful gift to gus and. big stage companies and rush on not coming up with enough in the face of products that they were to call the medical director of prize waterhouse coopers center of innovation. all correspondent. up with him at the international forum of industry and innovation in the urals. we interviewed that some one hundred of the largest companies and russia so it wasn't a small or perhaps more innovative start ups but it's a large sum of the largest one billion doll

because we have that producing, opec doesn't have the leverage that it historically has. with this moratorium, as you said, the energy supply isn't today, it's -- the shortage is in 2011 and 2012, which we know the last time energy went to $4 a gallon we saw the devastating impact on american energy, american prosperity, our economy and jobs. small businesses and families just suffered. we're going to see more of that in the future. mr. poe: that's exactly what will occur, not only energy costs, but we also must remember that this deep water drilling and the crude oil that comes from the deep water produces millions of other products besides just fuel. all of the plastics, many of our technology comes from some base of crude oil. and all of that is affected and the cost of all those items that are produced in our refineries and petrochemical plants will be affected because of this arbitrary, capricious and punitive decision to just stop deep water drilling. i would hope the administration would re-evaluate their position, quit suing americans, get out of the courtroom and

that after all is the motivation for opec. what opec tries to do is to have all of the oil exporting countries limit their production in order to keep prices high because it would bed a vanttiges them. it is hard -- be advantageous to them. countermarkets interventions in afghanistan innsome sense solves the coordination problem for the drug drafficers and increases the -- trafficers and increases the revenues. the money, the revenues is just the price times the quantity. the bad news is the price goes up by a larger percentage than the quantity goes down. the reason has to do with the tremendous escalation in prices. normally the prices for heroin come out of afghanistan is about $2,000 per kilogramm if it yields $4,000 per kill gam? that's a $$2 per gram increase. it is lower in iran than in russia and lower in russia than in europe. you might take it as a ballpark average that it is about $20 per gram so maybe you're pushing the price up by 20%, to $22 per gram. as the prices cascade, you get a bump up and maybe it is a $4

that is the motivation for opec. what opec tries to do is have all of the oil exporting countries limit production to keep prices high because it is advantageous to them. they have to struggle with coordination, because it is hard to know what each other is doing and they have a mixed track record. counter-narcotic intervention in afghanistan, some say that solves the problem for the drug traffickers and increases revenue. you can think about this in the mathematical terms. it is just the price times the quantity. the bad news is when the price goes up by a large percentage, the quantity goes down. the reason is the tremendous escalation in prices as the drugs move down the distribution chain. normally, it is about two thousand dollars a kilogram. suppose we're able to drive up to four thousand dollars a kilogram . retail price varies around the world. you might take, as a ballpark, which had average, that as about $20 a gram. if you are pushing the price up by 10%. we will give it the benefit of the down, -- the dou

a high rebutted this such amazing showing get into it's called sex tapes opec a technologically advancedpart of the show we're glad to have you both here. tell us what sex tapes for seniors is. >> initial it is about a group of senior citizens who of kate out lesbian heterosexual summit relationships and some without who get together and decide to produce and market instructional sex videos for their peers. in all the obstacles they face in trying to get through that in the things that they learn about themselves and each other and having a great time but also confronting mortality which gives them a boost to really move forward. >> is told from the ballot her 20s who is trying to understand what is going on. >> right she is the narrator, she is the social director at chabot springs retirement community. she has her own growth spurt over the course of the time. as she finds out that all the things that she thought were true about older people simply are not. it will >> are some of those things they do what the sum of the big misconceptions? >> while she befriends me i played doddie, in d

what opec tries to do is have all of the oil exporting countries limit their production in order to keep prices high because this is advantageous to them they struggle with ordination because it is hard for them to know what each other is doing and they have a ixed track record in competing. counter narcotics interventions in afghanistan are called ordination problems with the drug traffickers and increasing in revenue. you can think about this in algebraic terms, the money is just the quantity and when it wanted he goes down, the price goes up. the price goes up by a larger percentage and than that of the time goes doww. the reason for that has to do with the tremendous escalation in prices as the drugs moved down the chain. normally the export price is about $2,000 a kilogram. suppose a that our plans were so successful that we drove that up to $5,000 a kilogram. this is a $2 a gram increase. the retail price varies enormously. it is lower in iran that it is in russia and lower in russia than it is in europe. the average is about $200a gram. maybe you are pushing the price up by 10%, m