opec members in the region to decide.that is while oil is affected. less talk about you in particular. your company does u.s.-based businesses, much in north dakota. do you expect that the boost they you are getting from at least a momentary concerns about syria is temporary, or will it continue due to what you are doing? >> i think it is a little bit of both. we have seen oil prices improve as the u.s. economy has slowly recovered as well as economic data coming in regina. clearly i think today, five-to-10 dollar risk premium and prices as a result of the middle east and conflict. it will adjust accordingly. liz: at the moment of five to $10 premium which reminds me of what we had during the iraqi war. you would hire banker still a potential sale. >> this is a total misstatement. we're currently operating about 200,000 net acres. rex is growing completely focused on that project. liz: you brought a portion of the balkan formation from liberty resources. to me that looks like you are forging for word. what do you think is

to gasoline, in addition, perhaps, to ethano use only create conditions that actually can destroy opecque that was in boston that was an incubator fo the attack there. that has its financing from saudi arabia. that makes a real difference. >> i believe almost everything that caters suggests. >> bad idea. john: stop throwing money to these madrasahs. >> they are here. >> if the united states did not send money to saudi arabia for crude, where we get about 10 percent of our crude. that's a we just got it from th north sea. it would not matter much. we displace the customers and then buy from the saudis. the idea is that our actions somehow enrich them beyond what otherwise would be is simply not true. >> unless you actually are usin another fuel in the mix. this is the point. you guys like consumers to have a say. this i know. sit-down. this requires the government saying we would like the consumer to have skills. this is an important point. what has happened here is thank to the mandate in brazil we hav seen of manufacturers as catche making cars that can hughes alcohol based fuels. the

these are companies by supply disruptiones and other opec countries such as nigeria and iraq.ic environment, i think the fundamental combination means that oil prices are going to rise through the course of this year. so this pullback is a very good opportunity if we're going long oil. >> so just under 110 at the moment on nymex, you would call that the floor? >> yes. we're back to pre-syria crisis levels. again, don't forget, we're kicking the can down the road here in terms of that diplomatic break through between the russians and the americans. no one knows how this is going to be implemented, what kind of timetable. i mean, there is so much uncertainty as to where they could go that the syrian gee your political premium could easily seep back into the prices within a month. >> and you talk about the global economy. what is showing up in the data in terms of demand? >> well, we like to focus at bnp paribas is on the emerging markets and in particular china. china has slowed over the first half of this year. and the pmi data have been supportive in terms of china arresting i

. >> tea industry in the opec nation were not affected, but too many, this was a deja vu. in an earlier year, power was cut, and the government blamed that incident on a drought. addressrmany, about to a dark moment in history, visiting a french village that was destroyed by the knots he -- the worst massacre in france during the second world war. >> it is a ghost town, carried out on a june day in 1944. one man was 19 when they rounded up the alleged residence. >> myen were in church friends and i were just here. they started falling on top of each other when they started shooting us. they covered us with straw and hay, anything they could burn, and set us with fire. before the flames got to me, i managed to get out. >> the turks also burned the ground, killing 361 women and children inside, including his mother and two sisters. >> for me, the real drama happened here. this is where they executed women and children in cold blood. 642 residents were killed. six people survived. why thisll not clear small village was singled out. it was not a stronghold, but it lay on the p

no, this is -- if this speaks to anything it speaks to the fact that we are beholden to the opec and the arab countries setting these prices for us. this is the market at work. this is the monopoly of those countries setting prices. if this says nothing else to us, we need to ween ourselves off our addiction use to use bush's fay mu phrase and develop liable and renewable sources of energy at home. if nothing else there should be another wake-up call. we've been getting wake-up call after wake-up call. we did see egypt in july when things blew up and a lot of tu mult, gas prices did tick up, 10 cents, 20 cents in some places. any time there's tu mult in the middle east there will be volatility in the gas and oil market and why we need to start developing renewable sources here and alternatives in the longer term. >> john, we could get into energy policy and all that, but right here, right now, we saw that the gross domestic product, our best gauge of the economy, was actually revised upward. do you think this is going to take a hit out of it? >> look, we can get into an energy policy

are we going to use canadian oil, american oil, or oil from opec?ould frankly prefer canadian and mexican oil. the president is making much out of something that is ultimately what he has proposed for the u.s. economy. middle-class jobs to build a pipeline that is infrastructure, not to serving the needs of canada, but the needs of america, so that american refineries can receive the oil and make petrochemicals, gasoline, lubricant in america for americans. why not build them in canada? canadian oil in canada? we have spare capacity in the u.s.. people say it will all be exported. no, it is not. it simply will not. people can say what they want to say and that does not make it true. i signed contracts with the president of shell oil to take canadian crude to u.s. refineries and produce the product for american marketplaces. will some of it gets -- it exported? perhaps. if there is surplus supply. petroleum products need to be consumed within a certain life span or it goes bad. there is a natural movement of product, just like rain or corn. should we

to the opec. the united states is cautious. >> we had a document we didn't have yesterday. >> the disclosure was dictated by the agreement between knowledge kerry and lavrov. >> they need the opcw to agree to the plan in principle before they can put it to a vote. >> the opcw cancelled a meeting expected. kristin saloomi, ldges, united , united nations. >> rebels fighting against him there's also a chance iran's leader will meet with president obama next week at the u.n. al jazeera's john terrett takes a closer look. >>> in an op ed of the washington post, iran's new president hassan rouhani calls on nations to look at more than their own interests. engaging with one's counterparts on the basis of mutual respect. rouhani appealing for a less centered response. we must work together to fuel the finals to drive us apart. international sanctions are the main reason for rouhani's softer line. >> the iranian leaders have come to this conclusion that iran's economy is in a dire situation and they cannot

liz: syria is not a member of opec, no natural resources to speak of.is more about iran and iran's perception if the u.s. is tough on things like ñkosr/f2dwlo3çås or gassing their people. >> they are playing a high-stakes poker game at the moment. i think the ramifications if it spins out of control, it could easily spin out of7d control, as always, unintended consequences. what makes sense on paper, the reality can be entirely different. the oil market is absolutely justified in reacting accordingly. sometimes you don't see them react, and tells me it is not nearly as bad. liz: we are minutes away from speaking live with the labor secretary of the united states of america. what would be your question to him? we got the job number for the month of august, it did not miss expectations but yesterday first-time jobless claims at five-month lows which were good signs. what should people read into them? >> the question you want to ask the secretary is if they gains in real wages are sustainable. we saw a decent upticks, that is the component piece that is c

>> if you look at opec, the brent is more vulnerable than we are since we have domestic production upbut less vulnerable than brent. so maybe wti strengthens against brent, that's been the trend since we've opened up cushionrbo you might see that trend in the future. >> good to see you, ira eckstein, president of area trading new york. >> apple down more than 20 points. should investors get out now in case the stock falls still further in we'll have both sides of that argument next. we went out and asked people a simple question: how old is the oldest person you've known? we gave people a sticker and had them show us. we learned a lot of us have known someone who's lived well into their 90s. and that's a great thing. but even though we're living longer, one thing that hasn't changed much is the official retirement age. ♪ the question is how do you make sure you have the money you need to enjoy all of these years. ♪ ask me what it's like to get your best night's sleep every night. [announcer] why not talk to someone who's sleeping on the most highly recommended bed in america? ask me a

with both opec and nonopec nations registering declines. the russian proposal on syria tries to gain traction. the agency, a little bit more positive about supply increases in the fourth quarter. antwaan house, the editor of the world market report will be on european closing bell tonight at 7:35 cet. brent currently trading at $111.67. we did briefly spark up to $116 a barrel when we thought a strike was imminent. >>> so more on that during the program and later today. as the eu announces new plans to scrap cross border roaming charges, we'll investigate the potential impacts on the telecom sector with the president of the european commission. >>> plus, could germany's so-called -- we'll sit down with the teddy bearmaker. and we'll bell at the world economic forum to find out if the asian coffee business is heating up. >>> next week anticipated fed meeting, we will be joined in the studio by gold man sax. >>> and is dunkin donuts ceo will be with us at 1215 cet. >>> meanwhile, 7.25% is the new rate. they've been trying to deal with a sharp

to saudi arabia and opec have something to do that?hy does he take this stance against using our own raw materials here in america. everyone is trying to figure him out. for a little business man, that is very difficult because he has trouble keeping his business together everyday. that businessman is the taxpayer and the foundation of those monies coming into the american government. obama has missed the point. it is time for congress to try to straighten that out. not just all follow around and do as they are told. now is the time for them to speak and write what is wrong. that is what they are waiting for. that is what the businessman is waiting for. he doesn't buy into any of obama's future suggestions for job creation in the future. neil: carl come it's alwwys a pleasure. a lot of people forget a multimillionaire business started for nothing. that was then. meanwhile, his face is everywhere. the washington dc mayor after a tragic shooting. but to hear wal-mart tell it, and even more reassuring presence after a decisive rumor went

affair of state, the investigation, impeachment, and trial of president clinton as one of them out of opec's. >> which book of yours sold the most? >> curiously one of my recent books, the first world war. to my -- i wrote about it because my father was in the first world war. like most british people i am fascinated by the first world war. killed so many of our fellow citizens. and i wrote it simply because i wanted to write it. it so tremendously well in the united states, two and a thousand copies. .. >> the annual festival is hosted by the franklin d. roosevelt presidential library and museum if hyde park, new york. this is about 50 minutes. >> good morning, everyone. >> good morning. >> my name is bob clark, and i'm the supervisory archivist here at the franklin d. roosevelt presidential library and museum, and it is my pleasure to welcome you to the tenth annual roosevelt reading

less concern about what might happen in the middle east, and i like to remind people, syria is not an opec member, okay? there's $2.28 coming from the market. do you see 105 before you see 110, allen? >> i think we'll see 110 before 105; however, we are losing the war premium. i think this is going to be a delayed situation. it's going to take awhile before we figure out what it means, what they have in the way of chemical weapons. there's nothing three to four weeks from now, any news event spikes again, but fundamental-wise, we are bullish. liz: i'd like to point out, gold's down $22. gold stocks rolling over, getting anxious. good to see you. thank you so much for joining us. 1364.83 an ounce for gold right now. stocks moving in and out of dow jones industrials. intel, the company making huge news today, and, you know, there's a new ceo. when a new ceo, a new heard is placed atop a big company, a dow component, nonetheless, it's a big deal. they know about the new guy. in may of this year, the ceo retired, and after a six-month long search globally, intel came back home to tap a man who

these are the unknowns but what we're already seeing, iraq, as we did a great graphic of last week, opec'sd largest oil producer, seeing their security situation deteriorate significantly because of what's going on in syria. what is that doing to its oil and what will it do in terms of question? >> violence in iraq is at a five-year high, and we've seen significant attacks on the kirkuk pipeline by insurgents based out of syria and the big question is do we see more attacks on the southern energy infrastructure? a key port was targeted, do we see that pick up, very nerve-racking for the market because there's significant outages right now, 3 billion barrels in unplanned outages. >> we've seen protesters come into the senate foreign relations committee. people holding up pink signs. four to six people holding up signs, pink t-shirts, protesting and being escorted out now by police from that committee room. >> getting back to what you were saying about iraq as well, what's the worst case scenario in terms of how many barrels could be taken off the market and what would that do in terms of a

we could break the bond of opec on the country's economy once and for all if we would have the kind ofscussion that needs to take place and scholars looking at alternative forms for transportation not the least of which is introducing natural gas both as a liquid and as a gas form, as a transportation fuel so that zero allele is not the only product people have to choose from when they go to the gasoline station. >> host: the gentleman says are the fossil fuels contributing to global warming? >> guest: i think they have been for the last 150 years. fossil fuels do put back co2 into the atmosphere which had been buried under the earth. i don't think anyone in the industry denies that the fossilization of the earth ads to the co2 content of the environment. the question then becomes what do you do about it? do you continue to freeze them not using alternative forms of energy? do you try to clean up the fossil fuels in ways you can capture this you to and put it back in the air? there hasn't been a faeroe examination of the u.s. energy sources in ways the public could get a grip on how mu

businesses that rely on opec financing. the state foreign operations bill that senator lindsey graham and i wrote reported by the appropriations committee on july 25 by a lopsided bipartisan vote of 23-7, protects u.s. national security interests, but also responds to compelling humanitarian needs, because we americans do feel we have the moral responsibility as the wealthiest, most powerful nation on earth. this speaks to the moral core of what we are as americans. senator graham's and my bill includes $8.5 billion for global health programs, a full year continuing resolution will mean $389 million less to combat h.i.v., aids and other preventable diseases like malaria, tuberculosis, pneumonia and malnutrition. none of us have children or grandchildren that have to worry about malaria, tuberculosis, pneumonia or malnutrition. with the amounts we spend we can help children in other countries. doesn't that speak to our moral center as a nation? because if we have this continuing resolution, it's going to mean tens of thousan