is oil going to return to what we might call normal apco opec -- normal? opec think so.ne year later, we still have questions about the missing malaysia in error flight -- malaysian air flight. you can follow me on twitter. #t't forget to include the rendingbusiness. singapore, taiwan, and malaysia have just come online. job shocker on friday. the concern is that rates will go up sooner rather than later. a very strong figure indeed. asian stocks are falling across the board. almost opening right now in japan. you can see the theme this morning. all these are factors of declining. the japanese gdp is revived. the first expansion is encouraging. >> the u.s. economic recovery chinese trade rates. seasonalare always distortions in february. that is what we are getting. exports up 48%, much higher than expected. the other side of the groin, imports are down more than expected. down about 20.5%. -- the other side of the coin if you want to look at those export numbers, you really have to combine january and february together. that saw a 15% increase in exports. discountust, y

he said opec will not be responsible for propping up oil prices and opec will keep production unchangedso scale back. >> that would be us. joining us with more on that jeff "killer" kilburg founder of kk financial in chicago. you got more snow again. everybody thinks they got it figured out, jeff. we're still pumping oil in the united states so that means prices will have to go lower, maisch much lower again, so they're waiting for that to happen before they get back in this market again. what are you doing here? >> well despite the drama, bill coming out of opec, we are seeing more oil. that supply component. you're spot on for focusing on that. a lot of folks in chicago are looking for more of a bearish short-term output. we see saudi arabia they're talking about cutting production. it's lige that "three stooges episode, will a volunteer please step forward and mo and larry step back. opec doesn't want to be the first one to cut production. the minister disclosed the fact they're pumping 350,000 more barrels a day. they've actually increased production. right now short term the price

shale, other areas, particularly in opec, need highroller prices to me cash.t does it say about overall demand? alix: demand will grow about one million barrels per day over the next 15 years to 100 million barrels of oil per day. they attribute the strength to emerging markets and saying that the world actually need $40 trillion of oil invest in the next two decades in order to keep supply growing to meet the demand. what i've read from other sources is that it's a very optimistic feeling toward oil price demand because again, we have alternative energy that could be a switchover from oil if it stays expensive. mark: what are we seeing from yemen? alix: quite a lot. oil and gas exports made up 90% of total revenues and around two thirds of the government revenue. they only produce about 130,000 barrels per oil a day last year but it's very significant for the country itself. saudi arabia and other gulf countries could take the security situation very seriously. we heard that saudi arabia and goal partners will take necessary steps to ensure stability in the r

oversupply of opec and their continuation to not stop production, pump so they don't get market share, a main factor why we're down to low 40s. >> reporter: washington debating whether to lift the ban on crude oil exports. >> that needs to change. >> reporter: industry insiders believe global political concerns will keep the export policy changes on hold. for now. but supporters like conoco phillips chairman ryan lance believe it could be a bright spot for the economy. >> 44, 800 a year. >> reporter: store space filling up quickly. current estimates suggest we're roughly 60% to 80% full. that number rise to 100% could be the catalyst that crushes oil. >> we could get a spike downward once we get closer to 100% full because everyone will be forced to glut the market with oil. the cash market. that will send the prices down. >> reporter: then there's the impact of the strengthening dollar. it takes traders using other currencies out of play pressuring prices. the dollar continues the monumental rise. that's bad news for oil prices. it means they could slide further. for "nightly busines

opec blames the plunge on weaker than expected demand growth and maintained that opec will not cut productionian court indicted five men on sunday in connection with the murder of opposition politician boris nemtsov. according to interfax news agency, one of the accused admitted to a role in the murder. japan's bounceback from recession was weaker than initially estimated. according to data overnight, the jack manes economy grew -- the japanese economy grew 1.5% falling below the preliminary estimate of 2.2%. in china, exports gained a monster 48% in the month of february. that beat the 14% median estimate of analysts driven somewhat by u.s. demand and some comparables that are pretty questionable. let's talk apple. big moment. after months of anticipation, we get the details of the new apple watch. the key is for ceo tim cook to convince us why we need his product. here is caroline hyde. caroline, what are we getting excited about? convince me that i need this watch on my wrist. caroline: that is what tim cook is going to do today. we got plenty of details already. six months ago was when we

was because the non-opec members refused to cut production.ign that opec has lost its grip on that will market? >> you have other operators here who have grown. whether it's north america or a, you have this shorter cycle manufacturing type process that can output in a short amount of time. tom: thank you so much. greatly appreciate it. olivia: it's time for our twitter question of the day. how do you think cheap crude is going to affect janet yellen? this is "market makers." -- "bloomberg surveillance." ♪ tom: good morning everyone. "bloomberg surveillance." brendan greeley and olivia sterns. olivia: my morning must-read is from stephen, writing about the balance of power in the middle east tipping towards iran. we have lost the essential counterweight to iran. this general is saying "today we see signs of the islamic revolution being exported throughout the region from bahrain to iraq." our headlines, the iraqi shia militias, iraqi government forces going into tikrit, they are doing so with the help from baghdad, not the u.s. government. thi

opec does not want to impact its producers. you have the u.s.ng more oil, and you have record inventories as well. all of that leads to a continuing drop in prices. the new york benchmark. yvonne: you are talking about a 48% plunge at brent. sinopec's pain maybe consumers gain. are seeing plunging gas prices right now. zeb: this is a drivers bonanza on the west coast. prices in los angeles, around three dollars. barrel. a huge reversal from what we saw a few years ago. prices that nearly five dollars a gallon. the cheapest gas in charleston, $2.11. the most expensive, in california, as you would expect. but crude oil still at its lowest level in six years. rising output, higher inventories, contribute into price declines. energy independence is evolving, and saudi arabia saying, listen, we are not going to cannibalize our own business. the are optimistic that saudi oil minister saying, prices will rebound. yvonne: coming up next, we will tell you what country is being pinned as the next tiger economy in asia. ♪ yvonne: we have heard this many ti

in november, opec production has gone up by almost 300,000 barrels a day.only offset by the loss in libya. alix: you have opec must the u.s. providing continued oil in the markets and those lower prices. thank you so much for joining me. coming up apple joins the dow with little fanfare. a look at the impact of the world's most valuable company on the index. ♪ alix: apple's first day on the dow jones industrial average ending with a thud. shares down about .5%, but what are the longer-term implications? does anyone really care about the dow jones that much anymore? good to have you guys with us. does it matter, apple on the doubt? >> it's a great badge of honor for the company. prestigious names are in the dow and it's a nice check mark to have, but it is not an investment these this. it is nice of them to have made it in that regard but part of the issue with apple is it number one across many metrics and included in multiple industries. you will see some volatility be generated not because of the fundamentals but because of the fact they are in his indice

but it has been opec that has determined the price of oil. so we import from the middle east the price of oil, whether it's a $50 price, a $100 price, a $150 price. if we get to a situation in which iran gets a nuclear weapon, the saudis buy a nuclear weapon off the shelf from pakistan a nuclear program that they subsidized because they will not tolerate having a shia power in their vicinity with nuclear capability while they do not. and if we do not think about what that means for non-state reactors in the region being able to get their hands on those types of weapons and what that means for the global economy at large, then we're being very, very short-sighted. so where we are going forward this is a very bleak and unpleasant vision i know. but i think that what is very important to consider is how the united states, europe, asia the growing energy consumers most importantly in china and india, can utilize the energy resources that the globe has in abundance to make oil a much less strategic commodity. and to make these type of unexpected b

what will that mean for opec? >> opec stays the course. arabia and their gulf arab allies will allow this to continue. they will not actively try to and the supply. mark: how is this making the global supply glut worse? >> the issue is u.s. shale oil. we have seen no impact on shale production. mark: are you surprised by that? the rig count down and there is no slowing in production? >> there is something in today's report which is interesting -- production for the lower 48 states as flat. -- is flat. we are a month or two away from declines in shale oil. the market has been waiting for that but we are about to see it. mark: how does the strong u.s. dollar factor into what we are saying? >> it is a factor -- big picture , more about the oil fundamentals. the dollar is secondary. on any given day, today is a perfect example, it can be a big market mover. it's something we have to keep an eye on. mark: all of this being said what does this mean for the u.s. consumer? >> the u.s. consumer, the end-users will continue to see pretty low prices.

opec says oil will be back to balance this year.ker than expected in 2014, but will rise by more than one million barrels a day in the coming months. halvedce of crude has since june due to a supply glut. joining us now from sydney is the chief investment officer at myers alliance securities. do you believe opec when they say that demand is going to rise by more than one million barrels a day in the coming months? that is quite optimistic for the global economy. do you agree? guest: i tend to. you've also got to look at saudi arabia they've put up their benchmark oil price by a dollar as well. i tend to agree. i think the global economy will start to bounce from these levels and i think demand will pick up. it has dropped by 50%. i think as a result of that, demand should be coming. angie: we are also seeing fears of deflation damage subside here. we are getting robust figures of consumer confidence globally. got an incredible jobs report coming out of the u.s. on friday. do you think this has more legs to go, and if so, where shoul

what does sub$40 oil mean for opec? guest: sub$40 oil doesn't make the situation easier for opec. there are a lot of countries outside the g.c.e. like libya, iraq iran and are highly cash constraint and even $50 makes it extremely difficult for them to raise revenues. tom: oil is a tangible asset. when we talk about finding a price, where supply goes away to find some form of equilibrium, how do you do that with a thing? it's not the dow or s&p futures or pieces of paper, it's a thing. what's different with oil? guest: that's a great question. i think what makes it harder to do those balances is expectations because if you take a step back and yes, we have been oversupplied in the oil market the last six months but put it in the context of the global market, we've been oversupplied by around a million barrels per day. we're in a 92 million barrel per day market, that's about a percent, that's not that much. you get one huge outage in the middle east and all that oil supply will be gone. it's about the expectation that because opec aren't cutting out goods is why prices need to fal

nil capacity at it this point for opec.ou've got, you know, yesterday israel talking about what they're talking ability with the irani iranians, the world, there's your reminder it's not the greatest place, oil is the asset most vulnerable in that environment so i disagree. i think you get in now. >> can we get a chart of eog intraday up. i mean i just want to know why again the sort of same question i asked sankey, a lot of smart people in this space and who have played it the right way like this name and yet it's mentioned again and the stock on the move again even though down on the day, moving off the lowest level. >> what will happen is the industry will have somewhere between 40 to 50 billion in spending cuts. >> it's in your playbook again. >> they'll cut jobs, pioneer, as well, they'll cut jobs. and what will happen is you'll see necessary consolidation in the space and have some winners that are shell producers that will make up for the difference on opec not having that spare capacity. obviously with eog's balance

guest: i think that opec is no longer the price leader.rote a long editorial or op-ed piece and i pointed out that essentially what is happening is that because of the advanced -- advent of shale , to expand and contract crude, the marginal global price making mechanism has moved to the united states away from opec. i think that is going to continue unless and until prices fall below the cost of crude production from shale which is very significantly above, for example, the saudi crudes. some saudi crudes are listed at less than a dollar a barrel. the huge airfield in saudi arabia. -- oilfield in saudi arabia -- we're lucky to get $40 betty: good that is a great point. it brings to light how complicated the situation is. dr. greenspan, thank you for joining us this morning. the former federal reserve chairman alan greenspan. we have some breaking economic data that i want to get to right now. speaking of inflation, it is a prices are down for february at 0.5%. scarlet fu has more. scarlet: it is an unexpected decline. economist were lookin

opec will not cut production because of the rise in shale output. few answers to questions surrounding flight 370, which went missing one year ago on sunday. authorities found one unusual detail, the expiration of a locator beacon battery before the plane took off. it is unclear whether that hampered search efforts. a russian court indicted five men on sunday in connection with the murder of boris nemtsov. one of the accused admitted a role in the murder. the charges come just over a week after his death sparked protests in moscow. results congressional heads denied involvement in the country's largest corruption scandal -- brazil's congressional heads denied involvement in the country's largest corruption scandal. the politicians allegedly took kickbacks. the president said brazil is learning from the scandal. >> with courage and pain, brazil has learned to practice social justice in favor of the poorest as well as applying the harsh hand of justice to the corrupt. this is what has been happening in the investigation. >> the block should have its o

opec will implode. do you agree? edward: some opec countries will definitely implode.: omar, you took your degrees in mexico. what does it mean for mexico? edward: mexico is in a different position. the government depends 30% on the revenues of oil, but they are in a very different position. they are no longer a petrol state. brendan: is that a way to draw a distinction between oil-producing companies? the ones who are not petro states will survive? edward: some will survive. russia is a petro state, but it has human capital and technology. tom: recalibrate $20 per barrel. are you at $20 now or $22? give us a better number. edward: the average that we had for the second quarter is $35. we are moving quickly toward the number. the $20 number is likely to what -- is what will happen. tom: do you realize that he talks and the price of oil just goes down? [laughter] olivia: we have yet to get to the demand side of the conversation. brendan: you guys keep talking, i'm going to go day trade. [laughter] olivia: are you worried about the fed moving too soon or too late? ♪ tom:

. >> iran is one of opec's largest producers. >>> and the left's quest for a candidate. >> no. i'm not running and i'm not going to run. >>> good to have you with us tonight, folks. thanks for watching. we start with breaking news. people in indiana, they're not alone. within the last hour the state of arkansas has passed their own religious freedom restoration bill. the bill now heads to the governor's desk and we'll bring you any developments from arkansas on this one. so the people in indiana, how are they reacting? they're calling for a full repeal of mike pence's religious freedom law. >> the religious freedom restoration act was about religious liberty, not about discrimination discrimination. as i said last week, had this law been about legalized discrimination, i would have vetoed it. this law does not give anyone a license to disdiscriminate. >> the wlajlanguage in the law does provide the opportunity to discriminate. pence said he wants the state legislature to fix the law. >> i would like to see on my desk before the end of this week legislation that is added to the

. >>> opec will not take on the role of supporting prices alone. he added nonmembers need to share the responsibility and should participate if prices are to recover. the u.s. futures dipped on the comments. oil near the six-year lows. brent off some 1.6% today. >> and another sell-off in oil prices. speaking of oil, the world's biggest energy companies are selling record amounts of debt this year. taking advantage of low interest rates amid the plunge in oil prices. the financial times, the total debt raised in january and february jumped 60% from the fourth quarter last year. analyst say oil majors could be laying the ground for acquisitions borrowing to act fast if smaller produces become vulnerable. >>> coming up on "worldwide exchange." are investors friending facebook? we talked to one of the pioneers in the social networking space. we'll be back in a couple of minutes. [ male announcer ] ours was the first modern airliner, revolutionary by every standard. and that became our passion. to always build something better airplanes that fly cleane

there was a report out of opec a monthly report that said that production levels in the u.s.to slow down in the second half of the year. that was completely ignored. so do you agree that the bias is to the downside further here? >> oh completely. completely agree. we're expecting that month over month production in the u.s. will start to decelerate to 0% growth on a month over month basis. if not in may 2015, then certainly by july of 2015. and i don't think the market is looking at that. the other thing is that while we're all very focused on the bloat in crude oil production and then the storage hypothesis that there's so much crude oil in storage, there's only about 29 days of supply of crude oil in the united states. that's a month. i mean, this is a joke. gasoline is about a month supply. even if we go from about 450 million barrels of crude oil and you go to a hypothetical 650 million barrels of crude oil, you wind up having about 45 days of supply. so some of the idea that the market would be permanently oversupplied is nonsense. >> so what's going on? >> well these ar

opec continues to produce what they are producing.ying it's a bad thing but we weren't doing it. you have the opec producing and then we've ramped up our production and that continues. so, as you say, there's a glut. they are going to have to start filling swimming pools out there with all of this oil that we have. so no wonder prices are so low. >> bart chilton, thank you so much. >>> that's "the ed show." "politicsnation" with reverend al sharpton starts now. >>> good evening and thanks for tuning in. an alleged white supremacist arrested in that shooting rage in arizona and terrorist killing 19 independent people in an attack in tunisia. but we start here at home. president obama calling out republicans for doubling down on trickle down economics. the president went to cleveland today, the sight of the gop presidential convention

opec saying they believe u.s. will really start cutting back in the second half of the year by year's end. but for now, even as the rig count come -- rate count comes down, production levels continue to rise because a lot of that fracking production is so much more efficient than it used to be. meantime, we're not seeing the break on gasoline that we saw back in 2009. tom tweeted that back in 2009 when we hit these lows for crude, it was below $2 a gallon. but we are still above $2 at $2.20 and change, because those brent prices continue to hold up relatively. back to you. >> interesting. thanks a lot, bertha. bertha coombs this morning. let's check in with rick santelli once again. good morning, rick. >> good morning, carl. in a bypassed era where the economy was either good or bad, but we didn't have all the gps issues regarding how do we discover or handicap if a maturity is rich or cheap, those days are long gone. and it's almost next to impossible to get a true bearing. but let's go back in time to when that

and convinced the opec countries, the oil-producing countries, to lower production in order to raiseces. and the u.s. was strongly opposed to that. and what he says is, that is when the u.s. government turned against him. the u.s. openly backed the 2002 coup which briefly overthrew the government, and has continued subversive activities. that is his judgment. amy: m.i.t. professor noam chomsky. ♪ [music break] >>amy: this is democracy now!, democracynow.org, the war and peace report. i'm amy goodman with aaron matÉ. we are spending the hour with m.i.t. professor, author, and activist noam chomsky. we sat down with him monday. i asked him about the significance of the leaks by national security agency whistleblower edward snowden and whether he should be allowed to return to the united states without facing any charges. >> he should be welcomed as a person who carried out the obligations as a citizen. he informed american citizens what their government is doing to them. that is exactly what a person who israel patriotism, and of the flag-waving type, would do. so he should be honored,

. >> is opec still relevant?nization that's a forum for producers that are members to gather and talk about supply and demand and they have the wherewithal if they choose to reduce capacity and to try to influence the price in the marketplace. they still can have significant influence. they aren't choosing to exercise that now. >> a lot of the places you're operating have significant demows tickde domestic pressure, venezuela, brazil brazil, the middle east. how does that change your productivity? >> political turmoil is a part of doing business national internationally. we pride ourselves on having people in country that work closely with people in power to try to produce energy either for local consumption or for export and we try to navigate through the tough times we see really in many countries around the world over the long cycle time of our business. >> will you be investing concentrating more in the u.s. as a result of all this or mo? >> with the shale revolution that's taken place in this country, the pr

yemen isn't a big producer saudi arabia is biggest producer in the world, biggest producer in the opec cartel. they're really going against the iran cans of course which be iranians which is the third biggest producer in the opec cartel. you have this clash right now that could really spin out of control. not only could impact supplies but put a monkey wrench and a deal, on iran and their nuclear program. if that happens some of this oil the market was expecting to get when iranian sanctions were lifted will be off the table. that will be develop bullish. gerri: all right how long will this take to get to my gas pump? >> i would fill up on the way home tonight. do not wait. it is going to happen right away. in fact i wish we could have filled up this morning. no, will be a really quick run-up. i wouldn't be surprised in coming weeks to see gasoline prices go up 10 to 25 cents a gallon. the good nice oil in the 2 heroin $40 to 25 handle most parts of the country. -- 2 heroin 40. we'll. i like it talking about to oil. good to see you. >> thank you. gerri: still more to come to the proxy

oil traders think at least a framework will be reached to clear a p that's because iran is one of opec's largest producers. reported at over $100 a barrel u.s. imposed sanctions are hitting the country where it hurts. >> the iranians, what they do is subsidize a lot of things that happen in the country, such as gas sales and things like that and they're not able to do that if they're not selling the oil. the citizens on the street feel it. the international side but the iranians if they can't sell oil, they can barely fund things they need to do, infrastructure projects, things like that. the last two years of sanctions have hurt them greatly. >> a nuclear deal could lead to sanctions being lifted and that could add to the decline we've already seen in oil prices. that's because more iranian oil would only add to an already oversupplied market. >> if there is a nuclear deal cut, iran doesn't get a nuclear bomb but the saudis have to deal with iranian oil coming back immediately, because that's what the iranians want. if there is no nuclear deal the saudis have to worry about the iranians

opec leaving their forecast for nonopec supply unchanged.hey think later in the year we might get change in output. >> i'm looking at the numbers, a very good oil company announced a secondary, it shows you how these guys need cash flow 4.5 million shares a very good company i was looking my guys rbn, who i use, they come out with an interesting report. peripheral fields beginning to get shut down. the field in utah new field was there, they're not drilling. you're going to see at this time next year not drilling issues are going to start making so our depletion is for real but it's this time next year. this first quarter is breakout quarter for oil production in the country. >> that's goppinging to hurt airlines. >> s&p one of the greatest mutual funds. take them out, they have allergan, perfect, what a great win, add american. who knows what they're up to next. they are really fantastic managers. >> market weighted. american is going to be added to s&p as of the close of trading march 20th. as jim says replacing allergan acquired by actavi

the problems is opec's together they announced cuts and the salaries feel everyone else cheats.fellow members and non-opec members to share the burden of cuts if we're going to do it. brendan: we're going to go to stephen schwartzman. he says there are remarkable deals in debt and equity. stephen: when you go into a period of distress, everybody starts freezing. we have relatively little exposure to problems. we are very actively evaluating a lot of situations and our people are not troubled working out problems where other people are. the scale of the energy opportunities is huge. brendan: most of the investments are not in oil. exposure to lower oil prices is limited. another event it will have an impact on the price of oil. nigeria. some of the voting technology did not work. what are you looking for in news? >> who won? it is the largest economy, the largest energy producer. the backstory is the move to democracy in 1999, 16 years ago, came with an implicit promise not written into the cost to shut, there would be a power-sharing deal. in the 16 years since then, we have had

betty: let's also talk about opec. lots of speculation about its effectiveness.t survive even more downturn? brown: there are countries -- brad: there are countries in complete disagreement. saudi arabia does not want to cut production. companies -- countries like iran , nigeria, venezuela once applied to be cuts of the price can go back up. that's why people are asking that about opec. history does tell us they can't last forever. betty: is now the time those predictions prove correct? thank you for joining us. another casualty of the crash in oil prices the group that offers transportation services by helicopter. income fell in the past two quarters. their biggest clients are oil and gas companies many of which have cut back on drilling. therefore not eating as many helicopter rides to those offshore rigs. -- needing as many helicopters. can serious xm survive without howard stern -- sirius xm survive without howard stern? ♪ betty: here is a look at our top story this morning. harsh reality check for shake shack. shares down 6% in premarket trades. fourth-quart

opec is still leaving its forecast for non-opec supply chains.viously they don't like where the price is right now. and if they could have done something about it they would have. and, you know you wonder how much is trying to put our fracking industry out of business. and you wonder whether they think they can do that or not. >> whether it can turn on a dime. >> they might have five or ten bucks as the nominal price. but the actual price, they have a budget of 30 or 40 bucks. >> they can't live at these prices forever either. >>> we've got a big interview this morning. if her first interview since being named to cnbc's next list jessica alba joined cnbc to talk about the possibility of an ip o rks. julia boorstin joins us now. she caught up with miss alba herself. julia? >> thanks so much andrew. that's right jessica alba and honest company's ceo both revealed their household, personal care baby care empire tripled revenue to $150 million in revenue last year. alba telling us that the month-old feeding baby category is off to a huge start and an

and also opec in its latest monthly report saying it expects the u.s.low until late 2015. analysts i speak to were looking at the second half kind of globally. if it's later in the year november, december that could be quite significant. meantime, we did see a little rally yesterday on the dollar. this was after the dovish fed cooled the dollar down a little. but you have dollar index over 99 this morning and that's why we're seeing the negative action. carl back to you. >> thanks so much. >>> when we come back alibaba, after that lockup expiration, what has been a rough 2015 for the stock, we'll talk with one of the earliest investors in the chinese e-commerce giant. dow down 92 points as the crazy week continues. back in a moment. 40% of the streetlights in detroit, at one point, did not work. you had some blocks and you had major thoroughfares and corridors that were just totally pitch black. those things had to change. we wanted to restore our lighting system in the city. you can have the greatest dreams in the world, but unless you can finance thos

he says domestic oil production, improved technology and the declining market of opec are likely to continue and that will keep prices low. he believes the faster -- factors are working to keep the prices low will still be in play even if political and environmental conditions change. >>> shares of tesla jumped more than 2% following this mysterious teasing message from ceo elon musk, he wrote -- rumor has it it's a large battery that can power your home. so -- stay tuned. >>> a fight over the estate of robin williams ended up in a san francisco federal courtroom. nearly eight months after williams' death, the family is still arguing over who gets his belongings. what we know is that williams' widow susan snyder gets the house in tiburon and williams' children will get his memorabilia. >> the question is, if a certain item is in that tiburon house, that is arguably entertainment related, what is the claim that the children have to it? >> the judge told both sides to figure out who gets what or he'll see them in court in eight weeks. and one of the kids posted on her blog quote -- my brothers

kuwait's oil ministers says opec needs to keep pumping oil in order to maintain its market share.bama administration has released the long-awaited regulations on fracking. the rules cover the process of injecting water and chemicals to tap into oil gas reserves. they will only apply to oil fields on federal land. welcome please have used fracking for decades. the first major eclipse of the solar age. the moon block 80% of the sun's light across europe for three hours. in germany, that briefly halted output from thousands of solar panels. they provide 40% of the country's power on most sunny days. the grid operators switched to natural gas and coal plants to make up for the lost solar palled -- solar power. more now on tiffany's sales and profit outlook, i'm joined by deborah aiken. thanks for your time. what is tiffany's doing to combat currency fluctuations? deborah: if we look ahead, they have a lot of new innovations. maybe that was not advertised in the correct areas. . trying hard with the locals -- elsewhere, there is a strong growth. 9% growth in europe. as we had through t

more likely to be on the back of the opec itself getting a quarter up to increase.n a way, i think when you look at is the oil price, and the short-term, it doesn't have a big impact. in the medium-term, a big negative impact. francine: we have not talked about nigeria. we had elections and filings in a state where there is a lot of oil. couldn't they balance out? ashok shah: not really. nigeria is at of the lower level from all of the politics and uncertainty to so on. it remains at subdued levels for now. that chance in terms of canada production be increased going forward? they are starting at a low level. the chances are if you get a political resolution in nigeria and calm a longer-term situation were more capital investment is to be done and more security needs to be provided and more environmental controls need to be put in place. before it gradually picks up and longer-term, the supply is much more. another big negative for the medium-term on the oil price. francine: thank you for joining us. london capital investment director ashok shah. prada's profits hit

opec governor prices will not rebound anytime soon. u.s. producers have idled for 15 straight weeks. output is still running high. the energy policy analyst at bloomberg intelligence joins us now. how is it we are idling all of these and cannot find them anywhere in places like oklahoma, and yet output still continues? >> people have been looking to the rig count for years. what we are seeing nowadays is it is just a less meaningful indicator. i think u.s. producers would like higher prices. if you're in the oil and gas business, higher prices is good for your bottom line. but they are facing a variety of headwinds. we have the lower price environment plus a lot of policy factors that companies in the u.s. here are dealing with. betty: we have new regulations on fracking. how will that affect us? >> just last friday, the department of interior it out new regulations that will try to put some new measures in place for companies that do fracking on federal land. the federal government is the largest landowner in the united dates and as a resu

opec continues to maintain its production target. the u.s. producing more oil.nventories remain high, and prices continue to fall. >> thanks for that. let's take a look briefly at what is going on. up next nissan facing complaints over airbag recalls. next. ♪ rishaad: a new investigation into nissan. craig, what is the problem this time? craig: the most prominent airbag recalls last year had to do with how airbags were deploying and problems with the airbag inflator. this is related to a recall by nissan last year of almost one million cars. it has to do with the software flaw where the software detects a lack of an occupant where someone is in that seat. nissan told us there were three instances where airbags did not go off when someone is in the passenger seat. this investigation relates to that recall and whether or not the fix nissan has deployed is really doing enough. rishaad: why have american regulators said they have started the investigation and singled craig: them out? the recall was --craig: the recall was last year. there have been 124 clients -- co

he's upset about the opec oil cartel's. he feels like monopoly's roots are negative and wants to make a more philosophically pleasing version of it. they dropped the game. it's monopoly backwards, anti-monopoly. it's a very 70s ralph nader and the nader's raiders that kind of public service lawyers are the heroes of the game. parker brothers attorneys say you can't make anti-monopoly. that kicks off this ten-year long legal battle between ralph anspach and his family and parker brothers. they rip apart all these different aspects of trademark patent and copyright law and all that is detailed in the book. as part of his lawsuit on spock like everybody else that darrow had the game and found out the roots go far back. he finds dan lehman who is an elderly man living in pasadena. he finds charles todd. he hunts down the quaker players in this looks like organic chemistry notes but it's ralph's notes from trying to find the photos of monopoly players to buy nephew went to school with two, who is married to who and reverse engin

opec is not playing ball. there has never been as much of a drop. how does this play in to your bond market? guest: swing producers is essential. not since the 1970's have we seen the lack of a swing producer in oil. that means over time there is no bounceback. we are looking at something more sustained around $50 or $55. that is a challenge to some shale production in certain areas of the united states. manus: you said the world is a different place from what it was in 2000. what does that mean? when the fed goes to normalizing, they are not dealing from the same deck of cards. tell me what that means. what does this mean post dodd-frank? guest: it's a transmission mechanism. the fed changes the fund rate. that is supposed to change all of the interest rates along the way, including the activity for banks. we know that banks don't act the same as they did in 2006. that process is quite different. we know that capital requirements look different. the important point is a lot of the balance sheets are concentrated in long-term treasuries and not at t

called anti monopoly ended is not long before he hears from -- let me back of -- he is upset about the opec oil cartel's. mark on the left, feels like monopoly red-eye negative and wants to make it more philosophically freezing. they draw up a game, with his sons have done. anti monopoly, and a nadir raiders and that kind of thing, a public service lawyer heroes of the game. not long before he hears from her parker brothers attorneys, you can't make anti monopoly, we are the makers of monopoly. this set off a ten year legal battle between routes onstock and his family, parker brothers. a record for different copyright laws. all of that is more detailed in the book. as part of a lawsuit, like everybody else detrimental to the game and the roots go back far, far back. dan tom lehman is an elderly man in pasadena and held up his finance board and hugs down the quaker players and this is looks like organic chemistry notes but it is ralph's nodes for these photos of monopoly players to find out who went to school with who, who knew who who was married to who and reverse engineering the monopoly

opec joining the conversation. brent at $57. tensions high in europe as greece's prime minister meets with the president of the european commission in brussels. greece formally complained about wolfgang schaeuble. let's bring in hans nichols in berlin. marcus is in athens. the spat between wolfgang schaeuble and varoufakis is very public. hans: we had a formal complaint tuesday night from the greek ambassador to germany lodging a complaint claiming that mr. yanis varoufakis called him "foolishly naive. here is what mr. wolfgang schaeuble said. he was commenting on mr. varoufakis' communication strategy. some greek papers and markets might be in a better position to talk about this. mr. schaeuble said to be called for shall he naive -- foolishly naive is insade. -- insane. marcus: what has annoyed the greeks is the characterization of the debate. mr. varoufakis does speak a lot to the media. it goes back to the eurogroup, there is a sense that a lot of the debate over greece's bailout has become personalized. the latest comments

so he makes this game because he's really upset about to opec oil cartels. this is a picture of him and his son mark on the left making this game. he feels like monopoly's roots are negative he wants to make a more philosophically-pleasing version of it. this is a drawing that mark, one of his sons, had done. it's monopoly backwards, anti-monopoly. ralph nader and that kind of bent of public service lawyer is -- they're the heroes. game. so it's not long before he hears from parker brothers' attorneys saying you can't make anti-monopoly. not cool. so that kicks off this ten-year-long legal battle between ralph anspach and his family and parker brothers. they rip apart all these different aspects of trademark patent and copyright law. all of that's much more detailed in the book. but as part of his lawsuit, anspach had thought darrow had invented the game, and he starts to find out the roots go far, far, far back, and he finds dan lehman, and he hold up his finance board. he finds charles todd, he hunts down the quaker players. and i know this looks like orga

similar things happen with opec. all of a sudden these guys were moving.as 37 and change after rallying above 52 the weekend. interesting interestingly have volatility last week that came as a surprise to bearish traders caught off guard by the bombing of yemen. we saw oil surge for today's. now all about iran, traders say. there is a view that negotiations are divided over easing sanctions. it is all about the countdown with the deadline. the big question, will the deal be reached? the state department says 50-50. we've seen it come back close to even. mark: a new commodity product hits the market today. this is now offering trading in storage futures. alix steel joins me now. why is this happening now? alix: you can trade storage futures. the reason so much oil and not enough room to store it. just last week a massive crude bill of 8.12 million barrels the biggest increase from cushing in the midwest, about 80% of capacity. well above the five-year high. part of that is financial syria it helps if you hold onto oil longer and sell in the future. the othe

neil: that could be devastating for opec. not that many americans will shed a tear for that.stabilize countries over there. right? >> exactly. you don't want to see social unrest in nigeria. of course the saudis have a lot of money in reserves. they can outlast this. a number of other countries they are seriously at risk with these lower revenues. >> all right. we'll watch. andy, thank you. good seeing you. >> thank you for having me. >> in the meantime, you're welcome america. we told you firsthand how race and starbucks together might be better named let's jump off the cliff together. put a lid on it. make it a memory. starbucks did. coincidence. we think not! ♪ >> this bust because of us? what the starbucks. that's power. and we must be percolating. that whole race together thing, put a lid on it. because the frappe folks are done with it. they say they're moving on with the race debate, maybe because customers were vowing, well, not to step into their stores. or maybe because one of those customers a hefty and cavuto producer, no less was right here on this show bemoaning

. >> james: in a show reporting this morning also was opec's far below bit of what should be the sumbad news for us come summertime bus known this year means no snowmelt less water for us come summer we're talking the state capital about increased water restrictions regulations in force will be miserable all wrong california in terms watter the summer because a lack of snow this winter closer look or singer on the bay especially nice we have clear conditions to start in. is cutting overhead visibility lantastic another across the studio embarcadero san francisco bread shop there and you conceive a ferry building what up and let's this morning. to go get the forecast for today kron temperatures widespread loaded 50s up the moment a miles start/as a lot worker with to the day we expect in the south bay next 30 meth schools still in in the cloudy. noontime was a cloudy still temperatures will be mild low 60s apply for a lunch hour by 5 tonight will be breezy winds pick up this afternoon partly cloudy and temperatures at the peak in the upper 60s to maybe some very low '70's today about

i think they and others in opec have been blaming speculators on this. >> now roll the tape of you onsmoke me some weed the first thing i want to eat is a hot wing sandwich. >> what the hell, man 1234 what the hell? >> have you ever heard of bi-polar. >> i am right about that though. >> it made more sense to me on "red eye" cavuto. >> it was an interesting thing about guests that can do both shows, "red eye" and everything else is they do changing. >> you have to. >> they are more real on this show because they don't -- they can be. gee that is true and speaking from experience. >> i give more twitter stuff off of this show, but it is true. you can be yourself and say thing you will never, ever say. >> that's why we got in a lot of trouble. >> you can see these you are into little cuts. >> over the last eight years i welcomed 750,000 guests. thanks to my own creative genius we were able to give "red eye" guests the introductions they deserve. here is an array of the best word play. >> if legal expertise were a riding lawn mower i would straddle her on the week weekends and waive to my

deal, oil prices, deeper deeper, now to a 6 year low, this latest lead coming despite report from opec, saying that america's oil production boom will drop off by the end of the year, jim. it goes you know this is -- is this good or bad news? >> for the sake of our country, i hope that is not true, this is energy independence for the u.s. this changes the game for us in a variety of ways, i hop they are wrong, they might be trying to stabilize the market by talking, it is not so clear they are right. a lot these wells here can be shut on ask of and off quickly. iif we stop growing and prices o up we'll supply more. >> oil rigs have shut down already, but production is at an all-time high, even though they are shutting down. in my opinion that is technology. >> a lot of people losing jobs, 70 something thousand i saw but that does not mean that truck stops. >> it cannot stop, big companies will benefit of a lot of this with smaller rates coming off line. you have to pullback, past 6 to 8 years our production in u.s. for oil has gone up 60%, we have actually out weighed saudi arabia in 2