i want to start with opec and opec-plus, whatever you want to call it. this alliance and its commitment to maintain those current production targets, even in the face of a lot of evidence they should loosen them up. >> they have really shown they having incredible discipline and unity in the face of changing market conditions to stick with their plan. several months ago back in july it almost looked like the entire group might fall apart over an inability to reach a decision about what to do about increasing production. it does seem like since they reached that decision that they have been able to stay the course and maintain. i think they are prioritizing that in some ways above reacting to the market condition of the month. caroline: what was so fascinating was at the same time as we are hearing this study as we go coming from the opec-plus, we heard saudi arabia saying we are seeing production rise phenomenally. half a million barrels more per month than previous because of issues in the gas market. how much do you think that is solidly there? how muc

oil rallies to its highest since 2014 after opec bus maintains -- opec-plus maintains its gradual increase. commodity prices soared to an all-time high. and facebook suffers a devastating outage across its most popular platforms. billions lost to competitors and mark zuckerberg's fortune plunges $6 million. will it be a turnaround tuesday? certainly for james bullard, it is a regime change. we are in the middle of the st. louis fed president yesterday saying i am concerned about changing mentality. i would say around prices and the economy, the relative freedom that dismisses feel they can pass on to consumers. this is not transitory inflation, this is inflation that sticks around, if consumers are willing to pay more and companies willing to charge more. that means a big hit. long-duration, most noticeably playing out in the tech sector yesterday. the nasdaq 100 falling more than 2%. let's get to the charts. here is your faang index. this is 20% of the s&p 500. yesterday breaching, just barely closing below the 200 day average. if you had shipped out to the tech stocks yesterday, the s&p

that is opec severe.u look at the secretariat's view, they are saying we will be in an oversupplied market next year which was another reason why the opec-plus ministers are cautious. we have been bullish way before the banks turn bullish. we have been talking about $100 oil next year. late next year into 2023. well over a couple of years precisely because of under in -- underinvestment. if anything, banks are coming around towards what we have been saying for a while. what is critical is at the joint technical committee came out even two days ago. we are expecting 1.4 million barrels per day of oversupply next year. if that is the case, it makes it difficult for ministers to add barrels to the market right now. dani: you write about how opec says they will not reach peak oil in the next 25 years and that is not necessarily what you are seeing so what is opec getting wrong in this forecast? amrita: for us, i think the critical thing is that we do think oil demand will start peeking when we talk about oil

will opec-plus and this next? one you look at the decision, the analysts we spoke to say that most likely, opec will be increasing the amount of whether -- rent they -- crude they put into the market in november. they will boost output that will be bearish for the market. that will cut prices a bit that it depends on how much. can they feel that hundred thousand barrel a day deficit? and how will the market digest that? we also have to look at the other fuels. everything rowling so there is enough on effect on oil. it might not be opec-plus that since crude to other levels. it could be natural gas or russian gas line pipelines to europe. there are a lot of factors going into the winter. rishaad: perhaps some of the witnesses in china are in infrastructure as well? i am talking generally about energy here. what does one even clean from that? the world's biggest oil trader sitting it is all done to opec must ultimately what happens with oil? reporter: opec-plus is a main factor but as he said, china is also the worl

it's all about opec, would you agree? >> opec is really the only game in town but it's about saudi arabia what country has the ability right now to surge production in order to pull this off we're talking about a handful of those countries and of those countries saudi arabia is sitting on the most barrels they could deploy to crew this off. and we know the prince thinks of himself as the central banker of oil. i think, again, if they don't put more barrels on than 400,000 i expect they will but if they don't, i know he's going to signal they're standing ready and willing to do so and closely watching market conditions he has caused this fed-like meeting structure to actually happen he wanted to have a rapid response mechanism with opec remember we used to go to vienna twice a year and they were stuck with the policy, now they can change every month as much as needed. >> don't say it too soon because i hope we get back to vienna for an in-person meeting again at some point that sait d, there is a natural gas crisis in euro

opec appeared to be in control of the situation. is there any pressure for them to do more -- any pressure coming out of d.c., or are they comfortable with where they are now? julia: the word we got out of d.c. or certainly the word we got before the meeting started is they are comfortable with opec want to do and what they decided to do, and that is increase output by 400,000 barrels a day in november. the fact that branch -- brent is up, i think that may start to give people pause as to whether this really is enough. i argued over the weekend this is not. they needed to do more. they decided no to, and prices are reacting. alix: i wonder if they start to move in between meetings now, potentially. julian, thank you very much. i went to point out some breaking headlines -- the eu drug regulator is approving a pfizer, dharna booster shot. the pfizer has been approved here in the u.s., but not moderna. guy: it is interesting that we are ahead in some ways, the emu is ahead and backing the modernity shot. you have to wonder about peopl

opec-plus meets today.bal gas crunch impact their policy when it comes to oil production? helen: opec-plus has indicated they are likely to continue with their gradual increase approach. however, they are under increasing pressure from the gas crunch because analysts are expecting the demand for oil to increase as competition intensifies for other types of fuel. coal and gas for example. if that happens, prices are likely to rise and opec will be under continued pressure to release further barrels into the market. the thing with that though is that the group is likely to be hesitant or cautious in doing that because they are not going to want to derail the hard work they have done in rebalancing the market. francine: let's go to maria in luxembourg. good morning. this is a concern for europe especially as energy demand picks up. will we see further caps on prices? maria: this is probably going to be the number one issue when finance ministers meet here in luxembourg for a number of reasons. as you alluded,

that started with what we saw with opec, right? we thought they were going to do something to alleviate his crunches we are seeing in the supply side when it comes to energy right now, but they stay the course. it was a bit of a disappointment for the market right now. yvonne: what is kind of funny was. david: leading up to the meeting, the meeting prior to that, we were asking, 400,000, was that too much? they're putting it into the market? now when you look at the price action, the market is saying, that was too little. rishaad: if you look at the price tech being run down here as well as developers, the bright spot is energy. you look at the msci asia pacific index, petro china, these are all companies doing well today i marked the 184 stocks on the way up. 640 on the way down. let's get more with richard gorry from jbc energy asia. thank you for joining us. what do you think of what opec did? shall was almost a swing producer. richard: what has happened yesterday is opec has stayed the course, they have been very conservative i

putting the finger on opec, despite u.s. how do you see it all being played out ultimately? >> the pressure on opec plus is going to continue to grow from the u.s. given where prices are. there is, of course, a lot of concern about gasoline prices at the pump but the reality is opec has clearly laid out the road map. they are going to bring on 400,000 barrels per day every single month and, of course, opec plus also don't want very high prices very quickly because it will damage demand. however there are uncertainties, what happens in the winter, do we get covid flare ups and that's why they've been cautious if pressure mounts and prices stay high, opec can look into tweaking the deal come the november meeting or december one. they could add more and force the next month those options are always on the table. it isn't just opec why prices are high, demand is rising quickly and more broadly we haven't kept up with investmentment because generally policy makers focus on transition. >> that's it, you nailed it at the end. it's

opec-plus not changing their stance.to the rescue for those who want a softer oil price. here is how things stand now. energy is unchanged after yesterday. technology is gaining 0.5%. maybe a little bit of dip buying. if you have a five-month a view on the markets, you want to buy cyclicals and value stocks. when you have a five to 10 year view, look at growth in technology. travel and leisure gaining 0.8%. that is how things stand in the first two minutes of the trading session. dani: getting direction from energy. equity markets are opening broadly to the upside. what takes me back to the tech question is bank of america saying it is this pavlovian buy the dip. will we see that in tech? here is where tech stands at the moment. we are heading to a correction. a lot of worries on this, long looking less attractive with higher rates. be it a simple outage were people could not use whatsapp or check instagram. this is the sector to play and now. let's take this question to our guest host, louise dudley, portfolio manager g

opec is not likely to reach production over 400,000 barrels a day. pulling up the chart once more at we have seen a gradual turn of these oil shipments. they have seen petroleum revenues rise to a three-year high as brent is close to $80 a barrel. the move would not be welcome by experts amid demand for fuel. haidi: the start of the trading week in hong kong. let's get you to new york. vonnie quinn is there with our first word headlines. vonnie: the world's largest independent oil traders as opec stocks will be a main factor influencing prices over the coming months. the cartel is due to meet on day as it eases talks which began last year when the pandemic ravaged energy markets. there is little chance of iranian oil returning to market this year and u.s. shale producers are not able to quickly raise. katherine tai will report on monday that china is not in compliance with the phase one trade deal. they are due to outlined the biden administration approach to the bilateral relationship at an event hosted by a think tank. cnbc sites sources that beiji

so opec loss is continuing to feel the pressure to win my production. however, they are scared of the potential for weight, so they're avoiding making any big moves and they'll regret later because they overreacted and also with well price. now above 80, these producers, they're happy with the price. this is the level that makes consumers uncomfortable, not angry, but just uncomfortable. and the producer is very happy, but cautious. so given this dynamic, opec is absolutely no rush to increase production in kill their own profits. and right, that's an excellent point because sometimes we forget when it comes to opec, their goal is to hit a person balance with just how much will you pay? a bank of america actually says oil prices could hit $100.00 per barrel as we just mentioned. how are these rises in energy price is going to take a toll on the ongoing economic recovery we're seeing throughout the world? well, oil is a commodity and a major input whether we're talking about the consumer at the gas pump or a manufacturer. so, and the price of oil goes up

and you and oil prices rose again on monday after opec and it's oil producing allies said they would continue with their current plants gradually increase production. brent crude was up as much as 2.5 percent eclipsing $81.00 per barrel. it's highest point since september of 2018. while the u. s. benchmark west texas intermediate was up as much as 3 per cent topping the $78.00 mark. in a statement released after monday's talks, members of the cartel said they had reconfirmed, the pro, the adjustment plan, which was the output increased by $400000.00 barrels per day in november. meanwhile, bank of america that in the note released friday that the global energy crunch could push the oil prices beyond $100.00 per barrel for the 1st time since 2014. amid the crunch european natural gas benchmark dodge t t f hop. so november prices hit just shy of $100.00 euro, that would be the equivalent of roughly $190.00 per barrel of oil. so how will the surgeon energy prices affect the global economic recovery in the northern hemisphere heads into winter to drill into it all of this spring in blue,

and what they're demanding is more output from opec and opec plus. now russia, by the way, cal gas from the state control energy company has agreed because of an order from president putin. to go ahead and release more reservoirs of natural gas and oil to europe to get them in the reservoir. so that should actually help thinking somewhat . but listen and, you know, some of the analysts who are looking at this are saying things like, well, russia and saudi arabia better be careful because if they don't start producing more gas than the rest of the world's just going to move to renewables. no, they're not. not in the next 6 months, not the next, you know, 3 or 4 months, and especially as we roll to the winter. that's where europe really needs this energy. so at this point, it's really about figuring out what is the best way to move forward. and the truth is, they don't like this because because many of these countries do want to move to renewables . but the way to get that price down is to sign long term deals. that last 20 or 25 years, not doing the s

opec does. russia decides what opec plus does . and so both of those countries will be represented by the way, at this g. 20 summit, though, uh, both china and russia are attending remotely. but what's interesting about this is right now you have this kind of energy need desperate energy need. prices for energy in europe of quadrupled and quinn toppled depending on which country we're talking about. that is an incredible number to go up in just one year. so what they're dealing with there is absolutely for lack of a better term, savage. right there, the people there are trying to deal with this lack of energy. governments are struggling with it and what they're demanding is more output from opec and opec plus. now russia, by the way, cal gas from the state control energy company has agreed because of an order from president putin. to go ahead and release more reservoirs of natural gas and oil to europe to get them in the reservoir. so that should actually help thinking somewhat . but listen and, you know, some of the analysts who a

what are you expecting from opec plus today? i are you expecting from opec plus today?— plus today? come to with _ plus today? i think we have come to with their- plus today? i think we have | come to with their meetings plus today? i think we have i come to with their meetings is to expect the unexpected so i think there is a range of scenarios that will be considered today but we expect policy to remain essentially unchanged so we think they will continue with the increase of 400,000 barrels a day month by month for the next certainly the year but with a very close watching brief on the market as with the oil prices certainly running too far ahead of that critical $80 a barrel mark. many are predicting oil prices will go up and up and you have goldman sachs saying by the end of the year we are looking at $90 a barrel, one organisation i spoke to last week energy aspects say over 100 next year is their projection as well. your thoughts? i is their projection as well. your thoughts?— is their projection as well. your thoughts? i think it goes too far, your thoughts? i think it goes

psaki:the united states is not a member of opec. while we do communicate with our international partners who are members of opec and convey as we did a few months ago our urging to find a compromise solution to allow production increases to move forward, as they did, i would note as it relates to gas prices, but we are seeing in some parts of the country is gasoline prices are naturally picking up. while we are not a member of opec, we are taking a number of steps to protect against rising prices here within the purview of what we have, and the department of transportation amended how many hours a truck driver can drive, as well as gasoline and other types of fuel building materials in an effort to ensure this was not having an impact. back in august, brian deese sent a letter to the ftc, asking the ftc to use its available tools to monitor the gasoline market. she responded and said she would look into it. reporter: was there any concrete movement or progress in the negotiations with senators mansion and cinema this weekend, -- man

he is the only ceo at an opec meeting.wants to understand their thinking as well i love that article he put out over the weekend russia and saudi arabia really are in control right now i also liked his comment -- i shun like it but it was interesting. he said, if we try, meaning u.s. producers, to increase production, we will be punished by our own shareholders. so think about the change that we have undergone, kelly for the better part of a decade, it was grow, grow, grow in the oil patch. now shareholders, the ones who are left by the way that are willing to invest in fossil fuel companies, which there are fewer every week, are saying, no, give us back that money it is the run of capital, not the return on capital. sheffield's comments are really really eye opening but at least today not everything is down right? big tech is down big oil is up. how about that. >> welcome to 2021. >> very real return to capital brian sullivan. >>> from oil to electric some developing stories in the world of autos and electric vehicles it

but right now, the oil market is heavily in deficit, and you're still seeing opec plus and the u. s. production levels are not really ramping up. and that's really, really, i think this was widening deficit that were seen. and right now there's expectations that if we do have even a modestly cold winter, we're where there's a strong likelihood. you could see $90.00 oil just because we don't have the supplies. and right now you have a markets that, you know, has been an industry that's been ravaged by the pandemic. and i think you've seen big oil, they've really refrained from investing in new wells. and in making commitments to some of this old economy energy sources. and i think you're starting to see that you're going to have a shortfalls. i'm, you know, over the next several years. and there's, there's optimism here that if you're an energy trader, this is going to be pretty much a one way trade or hey, christy, it's china has been spirit experiencing an ongoing energy crunch as we just mentioned. that has made it worse by massive flooding that has left up to 2000000 people, di

and opec has leverage over oil markets. so, i mean, couldn't that be be said on both sides or? absolutely not. no doubt, i mean, we have the issue right now in the united states where our president is calling on opec to increase production. i mean, we have the ability in the united states, go ahead and drill for more oil. we've made a conscious decision, not necessarily myself. lawmakers clearly have made that decision. so as the, you know, the government and so have special interest groups that we need to go ahead and fully get behind environmental concerns. and therefore, you know, promote renewables and move away from oil production. and we see that happening all around the world. excellent chevron shell bp, have all gone ahead and pull back on their production. they're taking their cash flows, their dividend, your shareholders, they're not putting it back in the ground. well, it's the majors are going to drill is going to be left up to the sovereigns. and, you know, frankly, opec, which you know, is gonna continue to dr

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it's not opec's fault, it is your fault, joe. don't you call texas and oklahoma, north dakota, alaska, hire back the keystone xl pipeline, workers you fired. maybe take back the waiver you gave your friend vladimir who country pays your son millions with no experience. saying there is nothing i can do about high gas prices, that is so reassuring. take a look. >> what about gas prices. >> gas prices relate to a foreign policy initiative that is about something going beyond the cost of gas. that's because of the supply being withheld. by opec. there's a lot of negotiation -- there is a lot of middle eastern folks want to talk to me. i'm not sure i'm going to talk to them. >> do you have a timeline for gas prices and when they my start coming down? >> my guess, you'll start to see gas prices come down as we get by and going into next year 2022. i don't see anything that's going to happen in the meantime that will significantly reduce gas prices. >> sean: the supplies not withheld by opec, you will yule, joe biden, you are officially

lisa: what the price point to get opec's attention?we get a hundred dollars a barrel and then opec says we will open the taps? julian: if we get to $100 a barrel they will make that call, but i don't think this is particularly a price driven mindset. i think they are looking ahead to 2022. there forecast and balance markets the next year, i think they are very concerned. they are looking beyond this winter. one of the things to bear in mind is if they make a decision to increase to more than four heard thousand dollars they planned -- to more than $400,000 they planned won't take until the beginning of december and any oil produced predominantly will come from russia and the middle east. that will take another six weeks from then to get to refineries in either the united states or china, which are both the same sailing distance away. that means that oil isn't going to arrive until january and by january, refiners are going to be starting to look towards the end of winter and sort of the maintenance season they as they look to spring. y

and it's interesting because you know, opec for many people kind of when you hear so much about opec, you think their job is to put enough supply in to keep energy prices low. but the reality is opec's just trying to find that perfect balance to see how much would pay for oil while making it sustainable to actually keep producing. now with that in mind, the u. s. energy department has also kind of said, hey, it doesn't look like we're going to tap any of our strategic oil reserves right now . why don't you think we're seeing more action on the government level here in the united states to cool off this current rally, specifically when the u. s. is so oil dependent yeah, brand and i don't understand it either that they tell us not to drill on our american lands, but yet they go to opec and say, could you please put some more on the market when literally last year we probably lost $40000.00 jobs just in the permian basin, that when the oil price went down to $37.00 a barrel. so the producers in this country are very wary about putting a moral in the market. and you can't blame them beca

oil has paired back some losses after it was reported that opec and the allies are likely to stick to the agreement to add 400,000 barrels a day to the market initial reports were that opec would ramp up supply let's bring in alex booth to the conversation thank you for joining us, alex what do you think about this discussion that opec and its allies could potentially increase output beyond the levels agreed in july? >> good morning. the data that we're seeing just doesn't really support any great increase so while certainly the markets are tight, we drew inventories through september and they're kind of the next supply to the market was pretty tight. what we're seeing for opec plus is they have the ability to supply a lot more oil to the market within the existing agreements they just don't really need to add further supplies into november they're currently running, through september at least, running at 1.9 million barrels a day under the kind of the potential supply that they already have within the agreement. and then you had the extra 400 to come through this month we just don't

they're going to push on opec-plus. with headlines from the angola oil minister saying no to extra oil output, iraq saying they do think opec will give an expected boost of supply. maybe we will see that and get relief on oil prices, but it looks like it will be tough going. haidi: let's get back to one of our top stories, early reports indicating japan's ruling party has avoided a worst-case scenario, they did secure enough seats to keep a majority. let's get a closer look from our chief north asian correspondent. they did lose some seeds, it did not look like it was as bad as the opinion polls were suggesting. stephen: a couple of them indicating that there could be some tough fights in osaka and other areas where the opposition was seems strength. as it turned out, the ldp to keep its outright majority, and with the help of its partner party, they have held onto a fair mandate. however, total they are losing about 12 seats. they are below the psychologically important 300 seats in the lower house threats told. togeth

i think opec tonight is the big one and i think opec will be the short-term driver here.u have citigroup for example who are expecting or saying that there is a high possibility that we could see that run rate of 400,000 barrels per day increase going up to 800,000. i'm not so sure that would happen myself. it is not my base case. given there are some pretty smart people out there calling for an increase in output, if we see it maintained, that could push the price up in brent about $80 on a closing basis and wti at 76.95. shery: the debt ceiling, the debate ongoing in d.c., how do you price seven? --price that in? >> take a look at the price action we saw on friday. it traded at a 10 basis point range, which is pretty punchy. if we do see yields moving markedly higher, that volatility could spillover. as currency and rate traders, we struck political risk. we look out for the signs and at the moment, they sell off significantly and you can see higher volatility in asset classes. shery: you are not alone. chris weston, thank you so much as always, pepper stone group head

we are going back to opec for the first time in a long time. we are going back to opec because we don't have enough energy, we don't have enough oil and gas.ng because a lot of the areas that we are talking about where shut down. stupidly shut down for no reason. not even environmental reasons. they were just shut down. it's very sad. we were energy independent just a few months ago, but we were really -- we were really -- we were going to be much bigger than both russia and saudi arabia. we were already quite a bit bigger. that took place on my watch and i was very proud of it. think of it, energy independence, we didn't have to go through the middle east. we didn't need anybody. we had the best energy in the world, the best companies doing it. that ended about two months ago when we started going to opec because we don't have enough oil. >> sean: let me ask you about this question. why would joe biden give a waiver to vladimir putin to build the pipeline so that hea could provide natural gas to our western european allies while simultaneously

but that didn't really cause much concern for opec, right? very first meeting to discuss essentially sticking to to their course. su: yes. it was a quick meeting and the decision was a big surprise to many of the analysts on wall street. they decided to go with a 400,000 barrel increase, increase a day output increase that was scheduled for november. steady as she goes and stay the course approach again many believe not appropriate given the energy crisis we have. and the factors that went into the decision, the increased demand, the falling inventories. but they are sticking with an agreement clearly that was made many months ago after a quiet summer. we've seen the radical increase in supply. i mean, in demand. and the concern that outstripping supply. we go to the big picture of what a peck is looking at -- opec is looking at, they had decided to hold back on output increases during the pandemic. they're gradually resupplying the markets. but look at the market reaction where we saw -- west texas intermediate and brent quickly shoot up to

>> we are in touch -- we're not a member of opec as you know. we're in regular touch with opec and we have raised issues of supply in meetings that members of our national security team and others have had in recent weeks as i confirmed from here. we want to address the short term supply issues. one of them as we know was related to hurricane ida and the impacts in the region which we took steps to address at the time. our view to go back to your original question is also that well, we need to take steps to address short term supply issues and keep our eye on the long-term and the impact of the climate. the crisis that we're in the middle of and ensure that we're continuing to encourage the production and rise of renewables and the clean energy industry, which is what the president's proposals would do. go ahead. >> as the january 6 committee looks to enforce the subpoenas that they have been issuing for witnesses -- >> martha: okay. we wanted to hear her response to that. andy puzder, the increase in gas prices in americans is inflationary issu

opec will not be the solution for the energy crisis.nk they are going to see a huge need to push to open up a ton of supply, which should support prices. manus: but that is not really the essence of why people are talking about the americas perhaps drawing on the strategic petroleum reserve, adding oil to the market, which quells the frenzy in the market. this is about re-grasping a market narrative that has become quite frenzied and desperate. that is the point as to what opec's role is, not whether they will cure the energy prices -- crisis, isn't it? dan: the energy crisis isn't opec doing and they don't have the power to cure it. where the crisis starts from, it goes back several years and a lack of investment in upstream energy for a variety of reasons, mostly because of a low energy crisis a few years ago. it is a refrain opec had been supporting, to invest more in upstream energy, and low prices could come back to bite people like this. manus: thank you so much, dan. joining me on the latest spike in the energy market. that's it

arthel: you talk about the gas present the government put the blame on opec. eric: go ahead.n we will get you joe. >> the president after canceling the keystone xl pipeline inputting the evil eye on gas production in the united states has been begging opec plus to increase production, they are gradually resuming 400,000 barrels per month excuse me per day every month to get back to where they were before the pin demo. we ought to be producing energy domestically and energy independence under president trump instead of begging opec. >> to think there begging opec and will this affect russian china, pressed against the glass looking inward. >> we don't get our gas for cars from china, we do engage with opec and we do progress and to get us out of the underneath cycle wherefore countries can control the supply and mess with the gas prices, part of that is changing to an electric system, part of it is changing to a system that will get vehicles that the rest of the world will want to buy in good paying union jobs a spring american industry and that's what were trying to go. if ch

lisa: you covered opec+ for a long time. you know this intimately. how much clout does the u.s.e if we do hear from the administration in upcoming weeks? do they listen? do they care? annmarie: they do listen. they do care. it would have to be a direct asked. right now, what you hear about is a lot of discussions between the united states and opec+ allies, but it needs to be a direct ask from high levels of the administration to another high-level of the opec+ group. they certainly do care, and i think you would see movement on that if there was a direct phone call. tom: bringing oil back domestically, do we go with what we had as a gallon of gas as a third rail, or is it different this time in modern america? annmarie: it is incredibly important to coast zoomers -- to consumers. no president was to be presiding over higher prices at the pump. it is not just about gasoline prices. it is also concerns and worries about heating and electricity bills. right now the u.s. doesn't really have a natural gas problem in terms of power for electricity, but what would be a problem is if th

we do have these opec barrels signature on the sidelines the question just simply is will opec comearket. sdpr . >> oil prices to rise an additional 5%. does that make sense to you? >> that's what i was saying. there comes down on what is winter again, there are real question marks over whether russia can make good on their pledge to supply more gas into europe. do they want to supply more gas into europe. are they trying to general rats an emergency crisis to force, for example, the german regulator to approve the pipeline i think there are real questions about if winter is cold, can we get enough energy into the key markets. >> thanks as always. great weekend to you >> thank you >> steve, jeff, mike, great being with you tonight thanks for having me that does it for us on a special edition of fast money. the news starts right now. "the news with shepard smith" starts right now \s. >>> i'm in for shepard smith this is the news on cnbc. >>> alec baldwin pulls a trigger on a prop gun, leaving one dead, another injured. >>>ed laundrie family lawyer, offering up new information, raisin