opec's -- >> the higher opec's market share, the more power they have to control the price. as the united states becomes a bigger producer, and the eia projections are based on current knowledge. we are having a paradigm shift in the way we look for and produce oil. projectionsary as the united -- states and north america and mexico and other countries produce more oil from unconventional resources, opec will have a smaller and smaller share of the market. their producer power will be reduced over time. to the extent united states exports crude oil, and countries that are in europe and countries in asia are able to buy spot oil and gas ates , than competitive prices opec's power will be reduced to radically over time. -- dramatically over time. >> if they want to have oil at $100 a barrel, that is what it has been. and controlartel 40% of the oil produced. it is easy for them to turn the spigot one way or another to get the price they want. that is how cartel's work. >> the pricing, the way the pricing on crude versus the pricing on natural gas, why is there such a differenc

opec oil is vulnerable to supply disruptions. eia found recently interruptions quote made a perfectly for a variety of reasons including conflicts and natural disasters. oil produced in the united states significantly is less mobile to supply disruptions and, therefore, provides more energy security. as mr. hamm and ms. jaffe both noted, the u.s. is exporting 3 million barrels per day of refined petroleum products. so we are exporting oil already, but as a finished product made by american workers. that explains why richard trumka opposes the export of crude oil. he would rather see that oil kept here and made into a product by american workers rather than shift as a raw feedstock to be made into a product by foreign workers. oil companies are doing quite well. they are already making huge profits even with the export ban. the five largest oil companies, bp, chevron, conoco phillips, x. in mobile and shell made combined total profit of over $1 trillion in the last decade and that figure is based on the quarter reports. our transp

imports more oil from opec than any other source. they found quote interruptions may occur frequently. oil production in the united states is less likely to be disrupted and providing security. the u.s. is exporting 3 million barrels a day of refined petroleum products. as a finished product made by american workers is being exported. that explains why the export of crude oil is being opposed as they would rather see it here and kept for american workers rather than shipped to made into feed product by foreign workers. the five largest oil companies made a combined profit of over $1 trillion in the last decade and that figure is based on their quarterly reports. our transportation system is powered by oil. american families and the economy and energy security are vulnerab vulnerable. we must invest in alternative power like electric vehicles, advanced clean biofuels and public transportation. the president and congress should maintain the gas stubility. >> i will ask one question to stop this out and what jumped out at me. mr. hamm a

accounts for more than half of the world's non opec oil supply us show will add one million barrels a day to the global supply while libya will also increase shipments and now with iran coming out of hibernation some believe that this will push opec standby capacity to levels not seen since the depths of the financial crisis in two thousand and nine the u.s. energy department says u.s. oil imports will drop five point five million barrels by next year turning the world's eighty nine million barrel a day market rate and said now those bullish on oil say that the global economic recovery is strong enough to soak up rising supplies. and finally federal federal regulators. as are already easing off the gas on the vocal role this after the american bankers association threatened to sue federal regulators say that they will now allow smaller banks to hold certain c.d.o. as a trust preferred securities the a.b.a. said the provision would have forced two hundred seventy five smaller banks to take a six hundred million dollars hit to capital the change would apply to any bank with assets under

opec would reduce supply to remain high global prices.nited states use of homegrown oil would diminish and prices here at home what rise to match the higher global price for a barrel of crude. as one commentator put it, allowing for the export of homegrown u.s. crude would do nothing more than imports higher opec prices into the u.s. market. it is clear who gains from this oil and production companies, many of which are foreign owned. with the increased supply of u.s. crude hoping to push prices down, these companies want to sell u.s. crude on the global market at higher prices largely determined by opec. it is equally a parent who was loose, the american consumers who would see prices rise for gasoline, petroleum products and most consumer goods that rely on fuel to get to market. this can be explained by looking at history. before the oil shale boom there was too much capacity in the northeast and along the gulf coast and many were closing. purchase from conoco phillips. after that facility had been closed nearly one year. revolution br

accounts for more than half of the world's non opec oil supply us shell will add one million barrels a day to the global supply while libya will also improve shipments and now with iran coming out of hibernation some believe this will push opec standby capacity to levels not seen since the depths of the financial crisis in two thousand and nine the u.s. energy department says u.s. oil imports will drop five point five million barrels by next year turning the world's eighty nine million barrel a day market said now those bullish on oil say that the global economic recovery is strong enough to soak up rising supplies. and finally federal federal regulators are already easy off the gas on the vocal role this american bankers association threatened to sue federal regulators say that they will now allow smaller banks to hold certain c.e.o.'s of trust preferred securities the a.b.a. said the provision would have forced two hundred seventy five smaller banks to take a six hundred million dollars hit to capital that change would apply to any bank with assets under fifteen billion dollars. we

accounts for more than half of the world's non opec oil supply us shell will add one million barrels a day to the global supply while libya will also increase shipments and now with iran coming out of hibernation some believe that this will push opec standby capacity to levels not seen since the depths of the financial crisis in two thousand and nine the u.s. energy department says u.s. oil imports will drop five point five million barrels by next year turning the world's eighty nine million barrel a day market said now those bullish on oil say that the global economic recovery is strong enough to soak up rising supplies. and finally federal federal regulators are already easy off the gas on the vocal role this after the american bankers association threatened to sue federal regulators say that they will now allow smaller banks to hold certain c.e.o.'s of trust preferred securities the a.b.a. said the provision would have forced two hundred seventy five smaller banks to take a six hundred million dollars hit to capital the change would apply to any bank with assets under fifteen bill

now back to opec, if all the guys say they can produce what they think they can produce at some stage this year, then it gets interesting. the iranians getting an extra 2 million barrels on the table. the iraqis putting an extra 2 million on the table. they need to find 700,000 more to get up to where they need to balance the books, which is a key year ahead of the presidential elections in 2015, and the libyans are producing nowhere near what they could produce if they settled their internal issues. that could mean 4 million barrels plus onto the table. that gives us the question then, is the world going to need this? the world has quite a lot at the moment, so there's a significant downdraft on the oil price. herein lies the problem, oil from opec into the united states already trades at a significant discount to wti. they trade at a $25 to $20 discount to the united states, which takes it down to $85 a barrel, which then becomes competitive with shell. so that is a very big bearish scenario for the oil price. here's the bullish scenario. ford last week said their sales in china wer

and north america, mexico and other countries produce more oil from the unconventional resources, opec will have a smaller share of the market and therefore the producer power will be reduced over time. to the extent they export lng at the free market pricing in the countries that are in europe and countries in asia are able to find a spot markets incentive oil and gas at market competitive prices with the antitrust laws in the companies that sell and advise that opec power will be reduced dramatically over time. >> three years ago the oil ministers said they wanted to have $100 a barrel. that's about what it's been with some exceptions. they are a cartel that controls about 40% of the oil produced and it's easy for them to say let's turn this spigot one way or another to get the price they want. that's how they work and it's hard to see the united sees increasing production at a million barrels a year to be able to really challenge that power. the other thing would be the way the pricing on the crude or oil based on natural gas, why is there such a difference? we are not on the market

. >> you may in the future start seeing something like an opec of digital currency miners. >> the speckera bit coin cartel is one reason why it's rising in its shadow. first runner up is light coin. edge $600 million compared to bit coin's $9 billion it's designed for a home computer. the peer coin claims to have a more democrat mining process than bit coin. like bit coin they're highly volatile. some can be bought and sold on exchanges. no matter how attractive they come to investors, some governments don't like digital currency. india has put a ban and china has put a ban on handling bit coin. still there is no putting the genie back in the bottle. >> humans have figured out how to send money over the internet instantaneously without an intermediary. this is not something that people will forget how to do and this is not something that governments can stop. >> reporter: al jazeera new york. >> there were "r" many --there are many bit coin skeptics. so beware. they found a quarter had experienced security breaches and half had closed shop, and in some cases customers were not reimbursed.

. >> you may in the future see something like an opec digital currency. >> the specter of the cartel, with digital currencies rising in its shadow. first up, mark coin. though it's $600 million compared to bit coin's $9 billion, it's designed to be competitively, using a home computer. more than 60 bit coin alternatives, vying for a share of the currency market. they're highly volatile. but no matter how attractive they come to investors, some governments don't like digital currencies. they put a damper on exchanges, and stops financial institutions from handling bit coins. but still, advocates insist there's no putting the genie back in the bottle. >> they have figured on out how to send money over the internet instantaneous wee.ally. this is not something that people are going to forget how to do. >> more than 2,000 businesses worldwide accept by the coins, and you can see how and where they are. >> the dow is down 81 points on the first trading day of 2014. and the blue chips closing out 2013 with the biggest annual gain in almost two decades. >>> the number of people applying for

. >> in the future you may see something like an opec of digital currency miners. digital currencies are rising in its shadow. first runner up, lightcoin, though its cap is oant $600 million, lightcoin is designed to be mined by a home computer. coin market cap lists more than 60 bitcoin alternatives vying for a share of the digitally currency market. like bitcoin, they are highly volatile. some can be bought and sold on exchanges. but no matter how attractive, some don't like digital currents, china's central bank has banned financial institutions from manualing bitcoins. still, digital currency advocates insist there's no putting the genie back in the bottle. >> instantaneously, without any rm interference. >> patricia sabga, new york. >> one study bitcoin exchanges over three years. it found nearly a quarter had experienced security breaches and nearly half had closed shop and in some cases customers were not reimbursed. >>> it's prime time for college football. more companies are jumping on board with big bowl sponsorships and naming rights. some are getting th

. >> you may in the future start seeing something like an opec of digital currency minors. >> the spekt spector of a bitcoin cartel is why it's rises in the shadow. first runner-up is light coin. thousand the market cap is $600 million compared to bitcoin $9 billion, it can be mined competitively using a home computer. they're vying for a share of the digital currency market. no matter how attractive they are to investors, some governments just don't like digital currencies. india's central bank recently put a damper on bitcoin exchanges and china has banned financial institutions from handling bitcoins. still digital currency advocates insist there's no putting the up genie back in the bottle. >> they have found a way to send money over the internet instantaneously without any intermediary. it's not something governments can just stop. >> al jazeera, new york. >>> the 2013 stock market boom so far is a big bust. the dow is down 139 points on the first full trading day of the new year. tech stonings lead the decline after endless downgrade of shares of apple. chrysler will be owned sole

. >>: opec laid is such a month less thank michael for being with us. >>: here's the unveiled of the tv. they're preparing to make this new television next up an entirely new type of gadget. it's made by a sous. it's caught a pass from. it's a smart, tablet with a combination. you can use this in tablet to load or for when he tablet a bigger screen and then just slide it out when you want a more up some smaller pocket device. we have crews at cbs this week hunting through the show to find the top 20 gadgets and technology transfer 2014. be sure to mark your calendar for our top tech show coming up on january 24th at 9:00 p.m.. cape slate kron 4 news. newly confirmed federal reserve chairwoman janet yellen takes on her new role february 1st. the senate voted yellen into the fed's top post yesterday by a vote of 56 to 26. economists think yellen's biggest challenge will be deciding how to ease off policies that were aimed at pushing down interest rates caused by the great recession. yellen is a long-time fed official. many democrats hope she will focus on helping the nation's unemploye

but opec crude supply did rebound slightly to 29.842 million barrels a day which has reversed with four months of decline. joining us now, neal. >> good morning, ross. what do you make of that? well, i wasn't surprised by the fact that the ia slightly upgraded their outlook in global oil demand. i think the tendency in recent months with some marginally better economic news from around the globe would be that global oil demand would go up. what's interesting and what you just said there is it isn't an upgrade for the u.s., although modest, there's been a slow downgrade for china and one or two other developing countries. so net, the overall demand growth outlook, while it's marginally better than previously thought, it's still not that startling. and you used the figure 1.2 million barrels a day for growth in 2014. while that is not particularly startling, particularly when set against the expectations of very large growth in oil supply. >> oil surprises going to be stuck in a rut in 2014? >> well, i think in the early months of the year, i think oil prices are likely to remain much in

. >> the world has drastically changed since the opec oil embargo.bolice band as we had no oil exports. consumers would benefit from lifting these restrictions that inhibit the export of crude oil induced in the u.s.. >> there is a split in the oil industry. for refiners, it helps for the crude to stay in the u.s., they turn it into gasoline, and is allowed to be exported. we heard testimony from your presented of altai, who is a huge consumer, but also a refiner. >> we believe strongly that the ban on u.s. crude exports is good policy, and lifting export limits would come at the expense of the american consumer, who would pay more for gasoline, heating oil, and more for the price of an airline ticket. ofwe have seen an abundance crude has been bringing down prices at the pump, down 10% since march, even though global prices have been around $107 a barrel. barclays estimates if you remove the ban, it would cost motorists as much as $10 million a year in higher prices. >> megan hughes, thank you. we had a quick break to take. when we come back, a new

phil: opec talking out of both sides of their mouth. on one and opec is saying we are pumping the lease will since 2011 and and the next day they come out with a report saying they think the demand for their oil is going up. that lack of production and those concerns driving that market but watch the high spread that is coming dramatically this week. people like getting back out of it but the brent coming backed down, north sea production back in libyan oil back in the global market. ashley: good stuff. have a great weekend, thanks so much. lori: suppose they sold and i phone and nobody came. china operators, close starting stores. ashley: turning or twitter feed into a shopping mall that will allow you to buy goods directly through the 140 characters spot. lori: google i.t. over this, smart contact lens that could make a light sugar monitoring for diabetics far less invasive. ♪ [ male announcer ] evenore impressive than the research this man has at his disposal is how he puts it to work for his clients. morng. morning. thanks for meeti

they can be a bit more aggressive, buy opec stocks would be a example. a stock is not good enough to buy, it should not be good enough to hold. neil: you also said if you can't explain when you are investing in get the heck out of it. >> i believe it too. neil: you make too much sense. joe grano one of the brightest anest and nicest minds in this business. neil: paul ryan said wire long over -- we're long overdue for immigration reform, will it be suicidal for the right if it trying? we'll ask olympia snow, she is next. my dad has aor afib.brillation, he has the most common kind... ...it's nocaused by a heart valve problem. dad, it says your afib puts you at 5 times greater risk of a stroke. that's why i take my warfarin every day. but it looks like maybe we should ask your doctor about pradaxa. in a clinical trial, pradaxa® (dabigatran etexilate mesylate)... ...was proven superior to warfarin at reducing the risk of stroke. and unlike warfarin, with no regular blood tests or dietary restrictions. hey thanks for calling my doctor. sure. pradaxa is not fo

so the speculations here about him having gone missing relative to opec. talk about that.hy would that play into this? >> i don't believe it would. that was the same source that mentioned the credit card that you were mentioning. i think it's -- it feels like a bit of a reach. but i couldn't speak anymore on that. >> okay. who is involved here? we've got the fbi, all sorts of other agencies, certainly a massive search trying to find him. tune about any new clues? >> they have been following any leads they have gotten. they have gotten the word out on social media, and people have been very good on responding to them. but it doesn't seem like any of those leads have turned into anything. as for physical evidence, there doesn't appear to be any. >> wow. talk about disappearance. okay. 55-year-old david bird there, thank you very much for speaking with us about it, michael izzo. appreciate it. >> thank you. appreciate it. >>> is it safe or not? we're going to tell you about new worries over the water in west virginia in our next hour. t rest tends to stay at rest... while a b

those reports raised concerns that his disappearance could somehow be connected to his coverage of opecorganization of the petroleum exporting countries. >> that didn't come from us. so i don't know where that information came from. that doesn't make sense. went for a walk and that was all we know. we have no idea. >> reporter: bird's sister-in-law says the family still doesn't have any answers for a disappearance that makes no sense. >> alexandra field is outside the "wall street journal" headquarters for us now. where does the investigation, the search, stand now? >> reporter: well, another search party is heading out today. they have done this every day since david bird was reported missing back on saturday. this is a multi-agency search. after a week now that bird has been missing, they say they are going to chase down any leads they can find and are welcoming any tips from the public. >> alexandra field, thank you so much. >>> turning to entertainment now. tonight, "saturday night live" debuts their first african-american female cast member in six years. what does this mean? how wi

those reports raised concerns that his disappearance could somehow be connected to his coverage of opecrganization of the petroleum exporting countries. >> that didn't come from us so i don't know where that information came from and i -- that's -- doesn't make sense. he went for a walk and that was all we know. we have no idea. >> reporter: bird's sister in law says the family still doesn't have any answers for a disappearance that makes no sense. >> it really is a mystery, alexandra. what's next in the investigation? do they think they're any closer to anything? >> the goal is to bring david bird home. there's a massive coordinated effort here involving a number of different agencies. the footprint of the search is large. it's involved helicopters, horses, dogs, atvs so the effort on the ground is very much an active one. they are hoping that they'll find david bird and that he will be okay. the family tells us they know a lot is happening behind the scenes. police are looking, of course, at phone records, financial records, financial samtatements >> nothing gave any indication that s

if opec needs to cut, they are going to cut. oil will not drop down $30 in a day. $30 if an attack comes some way, shape oar form to saudi. sandra: i have to challenge you. i don't believe there is anything other than raw fundamental as the work in the oil market. you talk about a fair price for oil. >> right. sandra: that rubs me the wrong way because oil prices are where they are based on future forecasts, actually to date supply and demand fundamentals of market. when you say a fair price for oil, you have to explain yourself, last question. >> okay. i completely disagree with you on the fundamental part. ever since 2006, oil has been priced differently than ever before. when the world's oil markets became electronic market where you used to have pit traders and a few funds and actual oil companies were only traders, now you have a tremendous amount of funds that are trading oil. never seen a barrel of oil. they don't care where oil is. you have the brent market is cash-based market that was a tiny little market years ago now the market of the world. in brent, j

>> oh, listen, okay, it takes you off a million barrels of opec oil. how do you like that?e have been sitting here with this on the table since september of 2008. damn near six years. you know, hey, we've got some obligation to friends in canada that offer us their oil. we don't have to have the fifth fleet. we don't have to have any military protection for this and these people have offered us oil. listen, i'm surprised they haven't gone west into china with it. but they haven't. but you know, now you say it's going to be months before we know for sure. why can't this government make a decision in a reasonable amount of time and move forward? >> good question. i want to ask you quickly about natural gas, though. we had something scary in the last week or so, not just the fact that prices have gone up so much, but we were hearing people buying in the spot market for 35, 50, even 100 per million btu because of shortages. your take on natural gas and the weather? i know it's been freezing in dallas, even. >> my take on it, if you go back over time, we have experienced this be

iraq is the second largest oil exporter in opec.ng into the future, everyone expects that if oil prices will remain low it will require iraq to produce more and more oil. even though we may not want to have a lot to do with the middle east, even though we may look and think our oil is really guaranteed by our domestic production, because our economy is so intertwined with that of the rest of the world and the rest of the world relies on middle eastern oil, we have to be concerned about the middle east. it's not las vegas. what happens there doesn't stay there. >> that's absolutely true. also before we can really say that americans are having some middle eastern fatigue or don't care about the middle east anymore, we have to keep in mind that americans care deeply about what happens to israel and will react if they feel an actual threat rising against israel and from perspective of many arabs in the middle east, we have a totally israel centric perspective making it hard for us to be a fair broker and be seen as a fair broker from ar

can that help crumble the opec cartel? good morning, it is "bloomberg surveillance."ay, january 16, i'm tom keene with scarlet fu, chief economic correspondent michael mckee with us this day. our guest host, chris grisanti. >> you were pointing out christine lagarde warning about deflation. in europe, eurozone december cpi increasing to just .8%. germans during a little bit better, but only 1.4% for the month of december on a year- over-year basis. the good news is, european new car sales rose 13% in december, the biggest monthly gain in a must for years. the bad news, we're going back and forth, in australia, cutting jobs more than 22,000 last month, sending the austrian down. eco-data in the u.s., our version of cpi, an initial jobless consist morning. claims thisobless morning. homebuilders confidence, housing market index. >> if inflation is front and center, is cpi a big deal or do we look at the core? >> for the markets, probably both to give you an idea of the direction. it is not the absolute magnitude. ben bernanke at the brookings institute today. that is at

some suggested that this energy report here put together stories on opec, the organization for petroleumng countries, wondered whether there could be have kind of link here. we asked his sister-in-law if she thinks the disappearance could be related to any of his work here at the "journal." she said that is not a here to they makes any sense to the family, fred. >> all right. alexandra field, thank you so much. >>> students and parents are stunned after bullets flew inside the gym. the shooter allegedly was on the loose in philadelphia until a few hours ago. the latest on the investigation, next. in my world, wall isn't a street. return on investment isn't the only return i'm looking forward to. and my parachute definitely isn't golden. [ male announcer ] for some, every dollar is earned with sweat, sacrifice, courage, which is why usaa is honored to help our members with everything from investing for retirement to saving for college. our commitment to current and former military members and their families is without equal. start investing with as little as $50. >>> the suspect in a scho

. >> is this a threat to opec? >> it has taken them saying that it is a threat to europe.worried about it. it is -- the scene here is competitiveness. you can see that the europeans have woken up to say we are living in different worlds. we have lost sight and we have to be competitive. we cannot be the most expensive place in the world in terms of energy. is thatf the quotes europe is an emerging market. ge has a global platform. it sees the pulse of your. are u.s. cautious on europe as so many? >> we are cautious, but we do a lot of good things in europe. you cannot -- we support the growth markets. we have a lot of activities that we do in europe trip even though there is not a lot of growth in europe, probably there is some. you can do things in europe that help your business. >> can you build code use of energy policies? some would say that the reason for the revolution has been government got out of the way. >> government was not paying attention. >> can government in europe get out of the way? >> what we saw this week was an awakening that maybe markets have to be a

as a result, we can today mark the recent 40th anniversary of the opec oil embargo by ending the era of oil scarcity in america and, along with it, ending the last of shortsighted regulations passed during that period. the federal laws passed in the 1970s artificially controlled the supply, demand, and price of u.s. energy and brought about unintended consequences. for example, one law even banned the use of natural gas as a boiler fuel and mandated u.s. power plants switch to a less environmentally friendly alternative, coal. today america is still struggling to rectify the aftermath of this rash regulation. in the years since the enactment of these laws, our elected officials have recognized our global energy industry has changed dramatically. >> week develop we can -- america now counts the natural gas supply in centuries and experts agree we will be energy independent within the decades. this was missed by the general c concensus. has to be asked, "why does the united states, a nation historically very supportive of free trade, continue to impose export barriers for domestic crud

this is significant, talking with international energy agency, it is on countries like opec.had to create more oil to meet demand. the tables have turned, now the producing countries are looking at the u.s. because what they are saying is because we are producing so much oil, our pipeline and refiners can only keep up with so much. at some point they will not be able to refine the oil, prices are going to collapse. when prices collapse producers will quit producing and the economic benefit isn't going to happen. that has got to change to lift the ban today. it is not the 1970s anymore. back to you. adam: five years ago we were talking about the peak oil, the end of cheap oil. that is the history books now? >> it is. i used to call them the peak freaks. the market left to their own devices would find a way. this is exactly what has happened. when prices got high enough, somebody build a better mousetrap and they did the impossible. this is how the markets work so you will never run out of any commodity. tasttightness for a while but hh prices get the noggin to work before you

. >> brooke, as an energy reporter, he reported on opec, the petroleum exporting countries. disappearance could be connected to the work. his sister in law said they have no idea what could have led to his disappearance. this is credit card was used in mexico. at this point, investigators have not confirmed the use of the card. >> thank you. coming up next, to california we go. declaring a state of emergency not for the wildfires burning outside of los angeles, but for an drought. the mayor driving under the influence of alcohol, giving a little what shall we call this, an impromptu dance performance. she is still on the job and what her constituents are saying about that. peoi go to angie's listt for all kinds of reasons. to gauge whether or not the projects will be done in a timely fashion and within budget. angie's list members can tell you which provider is the best in town. you'll find reviews on everything from home repair to healthcare. now that we're expecting, i like the fact i can go onto angie's list and look for pediatricians. the service providers that i've foun

dismissing concerns that his disappearance might have been related to any reporting, particularly on opec right. his family is first of all saying they have no idea where he is or what has happened to him. over the past week though, questions have been raised on whether his disappearance could be related to his work, specifically his reporting on the organization of petroleum exporting countries. we asked his sister-in-law if the family believes there could be a link and she tells us they do not believe that's the case. >> wow. all right. everyone of course is hoping for the best of outcomes for mr. byrd and his family. >>> coming up, movie mogul versus the nra. why harvey weinstein is taking a stand on gun control. plus, some new cars are pretty fast and others are, well, they're connected to the internet, but the coolest ones, guess what? they don't even need a driver. life could be hectic. as a working mom of two young boys angie's list saves me a lot of time. after reading all the reviews i know i'm making the right choice. online or on the phone, we help you hire right the first time

i mean, crude oil prices are dictated by opec and demand by third-world countries that hasn't reallyural gas is a different story. north american natural gas is a captive commodity here in the united states and canada. but with l&g, we should be shipping this worldwide. i mean, it's crazy for u.s. companies to be selling their gas for $3, $4 at mcf and the chinese and japanese be paying $12. so the australians, they're a good seven years ahead of us with all the facilities, and they're able to export natural gas $6, $7 at mcf. we should be able to do the same. the beauty of finding these hydrocarbons like we have, we've been able to attract all these chemical companies and fertilizer companies back to the u.s. because they have a good, long-term supply which drives unemployment down, which drives new business all over the country. we're seeing just anned advent an all-new coal generation being built. all this is very good for our country. >> it's a fascinating story. thank you so much for sharing some of the details with us. we'll be watching for certain this year as well. gary evans

and north america is generally an existential threat for opec and for some of the nations that coulde of the discussions and the people that you're speaking with over there. >> well, that picture with me and khalid is a little bit of aggie gatherdom, if you will. he's the class of 1982 from texas a&m, and we obviously did talk about the hydraulic fracturing and the saudis are actually looking at some of those techniques themselves. i think the issue for america is george mitchell which i think will go down as one of the most influential men in the world history. the man who developed hydraulic fracturing. we haven't given him enough credit for that. changing the dynamic of the energy world in a big way. saudi arabia's going to continue to be a huge player in that role. the growth of the world and the growth of the world's economy and the ability to create jobs is going to be i think very directly connected to our ability to produce energy in the world. so, for the world to continue to grow, for job creation, for inequality of wages to close and for all the shift ships in the harbor t

the government forecasts say that this will allow opec to pump more crude for the first time in three years. why don't we check on the broader markets. we showed you what was happening with the futures. but if you take a look at the dollar, its up against the euro and the yen. trading right now at 1.3586. gold prices this morning are down by about 4.50. >> where is the ten-year? did you ask them to take that out? >> no. >> you don't want to look at the ten-year now that it's 2795%? >> let's take a look at the ten-year. >> but that's over. >> that is not over. >> i was trying to figure out why it's going down. >> my new bet is all these clowns that come in and are just so sure at 3.5%, 4%, they're the same ones that said it for five years. there's no guarantee. >> i was asking some questions yesterday trying to figure out why if we're going down -- >> i mean, and when you think -- >> they were saying insurance companies are looking at the long end and are locking in some rates. >> good good old days when we were at 7% and 8%, you would get 100 point moves. that's something to talk abou

those reports raised concerns that his disappearance could somehow be connected to his coverage of opect scum from us. so i don't know where that information came from. and that doesn't make sense. he went for a walk. and that was all we know. we have no idea. >> reporter: bird's sister-in-law said the family still doesn't have any answers for a disappearance is that makes no sense. and bird's family is clearly worried about his safety. they are also saying they are very concerned about his health without that medication. but they say there's absolutely nothing in his background that would suggest is that he would willingly disappear. christi, victor. >> alexandra field. thank you. >>> all right, boy, i've got to tell you, this target hack, if it wasn't enough to put you on edge where you're shopping, some brick and mortar stores have a way of tracking you now. >> yeah, cutting-edge technology is allowing them to get more invasive. finding and keeping more information about you than you'd ever imagine. >> we're talking about department stores like home depot, macy's, nordstrom's and ame