important for investors that it's about babies but the question that we're asking is how long can opec be disciplined in this high price environment traditionally they start to pump more the ruble is enjoying a resurgence against the bill on the back of the rising oil price the ocean currency is now holding below the psychologically important level of thirty to the dollar looks at the key factors driving the markets. the russian ruble is a three month five star says the greenback and analysts say the rising oil price is not the only reason for the rally since his heart of the year we had a huge win for him and i will do anything to mend just because of. the central bank and because of market perception three. everyone was looking for a high yield in assets and bearable was one of them in a minute and from that element please give rubles longer term prospects for dictate the ruble will fall significantly next year as investors buy into the dollar which is seen as relatively the cheapest currency in the developed world but for the ruble bulls the appeal of the dollar could be trumped by

quotas in this high price environment you mentioned it's down to fifty fifty five percent whereas opec would rather it was around seventy five to eighty five percent now it's important for investors that it's about baby but the question that we're asking is how long can opec be disciplined in this high price environment traditionally they start to pump more. oil minister is in moscow shape explain to us a he believes the oil price will hit one hundred dollars about next year he also revealed that russia's beauty bag has approached the emirates of kuwait as a potential partner. kind in their lives i have met with president and he expressed his desire for kuwait to become a shareholder in the bank i told him i would advise an investment body responsible for such decisions about this opportunity and they would decide whether it was in line with their plans and strategies and he does not intend to offer the share on the market and they don't want to announce it they're looking for a limited circle of investors searching for strategic investor is sovereign on some fantasy and that's why the

a big number and you know i think it certainly draws attention first and foremost and squarely to opec you know kuwait's oil minister was in moscow this week having some discussions with the russian oil minister and really what came out front and center discussion was that he is concerned about the compliance of opec members with their production quotas in this high price environment you mentioned it's down to fifty fifty five percent whereas opec would rather it was around seventy five to eighty five percent now it's important for investors that it's a baby but the question that we're asking is how long can opec be disciplined in this high price environment traditionally they start to pump more. the ruble is enjoying a resurgence against the dollar on the back of the rising oil price the russian currency is now holding below the psychologically important level of thirty to the dollar but there are other factors driving the market to turn a profit of reports. the russian ruble is a three month high versus the greenback and analysts say the rising oil price is not the only reason for th

number and you know i think you know it certainly draws attention first of foremost and squarely to opec you know kuwait's oil minister was in moscow this week having some discussions with the russian oil minister and really what came out front and center discussion was that he was concerned about the compliance of opec's members with their production quotas in this by price environment you mentioned it's down to fifty fifty five percent whereas opec would rather it was around seventy five to eighty five percent now it's important for investors that it's a baby but the question that we're asking is how long can opec be disciplined in this high price environment traditionally they start to problem more. and as we heard there from dave and spec at the q eighty oil minister is in town and exclusive to the channel will be hearing from a shake up to al sabah about his full cost of the oil price and about an offer of partnership between russia's the t.v. bank and the kingdom of kuwait that's on thursday on business. you know the news wheat prices remain near their twenty two month highs as rus

now it's important for investors that it's about day but the question that we ask is how long can opec be disciplined in this high price environment traditionally they start a problem more. and as we heard there from dave and spec at the q eighty oil minister is in town and exclusive to the channel will be hearing from a shake up to al sabah about his full cost of the oil price and about an offer of partnership between russia's the bank and the kingdom of kuwait that's on thursday on business. you know the news week prices remain near their twenty two month highs as russia's drought continues to devastate the crops prices soared by a fifth last week alone affecting global exports but the head of the russian grain needy and says prices are unjustified. only four fundamental factors do not support current grain prices last week we reached two hundred forty dollars per ton but this price is quite groundless according to the latest forecast of the global grain council green reserves will reach one hundred ninety two million tons this year compared to last year's record volume of one hundre

quotas in this high price environment you mentioned it's down to fifty fifty five percent whereas opec would rather it was around seventy five to eighty five percent now it's important for investors that it's about day but the question that we're asking is how long can opec be disciplined in this high price environment traditionally they start to pump more of the ruble is enjoying a resurgence against the dollar on the back of the rising oil price which is trading at the three months high the russian currency is now holding below the psychologically important level of thirty to the dollar that's in a police reports. the russian ruble is at a three month high versus the greenback and analysts say the rising oil price is not the only reason for the rally since the start of the year we had a huge win for you and i will do anything instrument just because of money to both your central bank and because of market perception to risk appetite everyone was looking for a high yield in assets and bearable was one of them in a minute dad and instruments. pleats on the rubles longer term prospect s

quotas in this high price environment you mentioned it's down to fifty fifty five percent whereas opec would rather it was around seventy five to eighty five percent now it's important for investors that it's about day but the question that we're asking is how long can opec be disciplined in this high price environment traditionally they start to pump more and in your opinion how long do you think this rise is going to last given that we're seeing the global markets for change and she's a session. well you know the hurricane season is the great unpredictable factor here the stock market not so important i suppose while traders are thinking about that and you know we'll all be looking very carefully at the news on the systems moving through the gulf of mexico to look for any potential signs of trouble there and do so see it is spike in prices that could be applied additionally you know prices could remain high so long as those tensions that you were talking about just a few moments ago with iran and north korea to iran remain at fairly elevated levels as well so it's possible prices wil

it will poll at 80%, backing the opec oil that undermines national defense, and oil that the chineseant to send into our economy. that will poll out for many members across the country and a powerful way. in the republicans who have decided to allow themselves with the kentucky coal and oklahoma oil agenda will find themselves with a big surprise on election day this fall 2010. >> the conventional wisdom is there will be more republicans, not fewer, and the house and senate next year. if democrats retain the house, would you do differently to engage them on this issue? >> henry waxman, nancy pelosi, and i worked hard to pass legislation in the house of representatives. you are asking a senate question. it is not the congress. it is the senate. that will be something we will have to determine based upon what the composition of the senate is next year. we are very proud of what we did. we were able to build a consensus around that approach. it was now 14 months ago it occurred. that is how slow the sun and has been to take up the legislation, not because of harry reid, but because of r

it will pullout at 80%, of backing out of the opec oil which undermined national defence, backing out of renewables that the chinese want to send into our economy. they will collect in a very powerful way. whichever republicans have decided to align themselves with that kentucky coal and oklahoma oil agenda, they will wind up with a very big surprise on election day. >> this fall? >> in 2010. >> the conventional wisdom is that there will be more republicans, not less, in both the house and the senate next year. what you do differently, strategically, to engage them on this issue? >> again, henry waxman and nancy pelosi and i have worked very hard to pass legislation in the house of representatives. the question you are asking is a senate question. it is not congress. it is the senate. that will be something that we will have to determine based upon what the composition of the senate is next year. we are very proud of what we did. we were able to build a consensus around that approach. of course, it was 14 months ago that that occurred. that is how slow the senate has been in taking up

backing out of opec, backing out of the renewable and other industries the chinese want to do. whatever republicans have aligned themselves with that kentucky coal and oklahoma oil agenda will end up with a very big surprise on election day. host: you can see the entire interview on "newsmakers" at 10:00 a.m. at 6:00 p.m. an also, coming up this week, on "washington journal", we'll continue our summer series and start looking at it tomorrow, defense issues. on tuesday, the mine-resistant ambush protected vehicles. on wednesday, we focus on the military use of drones. thursday, a special on military pay. on friday, we will look at the rehabilitation process for those injured in iraq and afghanistan. that starts tomorrow on "washington journal", continuing our summer series programming. our question right now is has the economy changed your investment habits? we have janet, from virginia. a democratic color. good morning. caller. caller: living paycheck to paycheck and cannot get much better. you talk about social security. i live in a very small town. a population of 600 people.

>> what do you feel is the most compelling piece of evidence for your taste in opec's -- a piece of evidence for your case? >> what you will find is this, no one in any regulatory agency, the fdic, the treasury -- know what had said that maxine waters or her chief of staff called them or wrote to them or ask them to do anything. it is just the opposite. the head of these agencies have said no, we were not influenced by anybody. we have our criteria. we judge people by their criteria. using that criteria, one united bank qualified because they were adequately capitalized. i think that is compelling. if you would like to accuse me, what did i do? if you would like to accuse my chief of staff, what did he do? i think that is compelling. i believe that having looked at this case, this business of coming down to, we cannot find anything that you did. we cannot find anything that you and chief of staff did. you must not have instructed them. that is my case. not good enough. >> can we go back to september? >> let's go to the back. >> the meeting with treasury officials. why weren't there any other

that study was commissioned by opec and others. 11 times as much subsidy goes to fossil fuels as to renewables. when people are waking up to is that the energy sector in -- is heavily what people are starting to pick up to is -- what people are starting to wake up to is that the energy sector is heavily subsidized. the specific subsidy in the united states is the 30% tax credit that currently the federal government grants. if tomorrow at c-span was to b put solar plates on your roof, 30% of the capital cost would be returned to you by the federal government. host: thomas rooney is the president of spg solar. as we've done all week, we are talking about energy, and we're talking about solar energy. as to rooney, is solar energy ready to stand alone -- mr. rooney, is solar energy ready to stand alone as a capitalist enterprise, much like a car manufacturer? i know we can get to subsidies and held for all industries. but consol energy stand on its own? -- but can solar energy stand on its own? guest: it can trade one of the challenges the industry has -- it can. one of the challenges the industry

that study was commissioned by opec and others. 11 times as much subsidy goes to fossil fuels as to renewables. when people are waking up to is that the energy sector in -- is heavily what people are starting to pick up to is -- what people are starting to wake up to is that the energy sector is heavily subsidized. the specific subsidy in the united states is the 30% tax credit that currently the federal government grants. if tomorrow at c-span was to b put solar plates on your roof, 30% of the capital cost would be returned to you by the federal government. host: thomas rooney is the president of spg solar. as we've done all week, we are talking about energy, and we're talking about solar energy. as to rooney, is solar energy ready to stand alone -- mr. rooney, is solar energy ready to stand alone as a capitalist enterprise, much like a car manufacturer? i know we can get to subsidies and held for all industries. but consol energy stand on its own? -- but can solar energy stand on its own? guest: it can trade one of the challenges the industry has -- it can. one of the challenges the industry

implemented to bring more caution to development, a countervailing pressure emerged in the form of the opec oil embargo of 1973. one official response, president nixon's project, independence, was to accelerate offshore development by offering more sales and placing new emphasis on research evaluation. and inherent contradiction between stronger regulation and accelerated development was built into the program in the 1970's and has bedeviled it ever since. the ocs lands act amendments of 1978 intended to resolve this contradiction and a related problem exposed by the santa barbara blowout, and that is the benefits of ocs development are distributed nationally while the costs are often concentrated locally. the 1970 amendments introduced five-year lease schedule, provided for phased decision making under environmental impact studies, and at each stage of the development process, amendments great it new environmental studies program. for assessment, and it opened up avenues for state and local participation in ocs decision making. the efforts failed to resolve the tensions between an environm

that study was commissioned by opec and others. 11 times as much subsidy goes to fossil fuels as to renewables. when people are waking up to is that the energy sector in -- is heavily what people are starting to pick up to is -- what people are starting to wake up to is thathe energy sector is heavily subsidized. the specific subsidy in the united states is the 30% tax credit that currently the federagovernment grants. if tomorrow at c-span was to b put solar plates on your roof, 30% of the capital cost would be returned to you by the federal government. host: thomas rooney is the president of spg sar. as we've done all week, we are talking about energy, and we're talking about solar energy. as to rooney, is solar energy ready to stand alone -- mr. rooney, is solar energy ready to stand alone as a capitalist enterprise, much like a car manufacturer? i know we can get to subsidi and held for all industries. but consol energy stand on its own? -- but can solar energy stand on its own? guest: it can trade one of the challenges the industry has -- it can. one of the challenges the industry has is