so whoa, or which country is the, the factor leader of opec. saudi arabia, the leader of opec, and it has been since the creation of the organization i saw you review provides at least a quarter if not a 3rd of all the oil that opec produces. and it's the only country that has the capacity to increase production significantly or decrease production significantly, which gives it the key swivel road swivel route in opec. now, goldman sachs commodity is chief jeff curry seems to believe the groups. power is at an all time high of their, you know, roughly 60 years. can you give us an example of the sheer power of this group? i mean, does it go beyond just shaping markets? can it actually shape global politics? i think as strong as opec is today, it's actually been stronger in the past. i was particularly stronger in the 19 seventy's, 9973. of course. saudi arabia was the oil embargo that lead to shock to quadruple oil prices. the iranian revolution led to a significant curtailment in oil that produced recessions. opec is strong and powerful today, but it's actually been even more powerful

opec the big question is opec and if it will keep the plan. it was cut on paper by 2 million barrels per day last fall. all of this when china demand is starting to pop and the markets are watching the russian refined products and more nerves around iran as drone strikes hit that nation let's tie it all together that one person can, he said, helima croft, head of strategies at rbc. i was trying at 5:15 in the morning, i was trying to aad lib where in the world is helima croft. you are in florence, italy baker hughes meeting what is the mood what are they saying about oil so far this year >> we are in day two of the baker hughes annual meeting. first time back in three years in person. how do you basically fulfill the energy of dealing with energy security and sustainability and affordability? big discussion of need for investment to have the hydro carbon we need in the transition period and discussion of natural gas of th gas. it is not just destination a lot of demand for hydro carbon going forward with the transition for the governments >> t

the big themes for the oil market in 2022 china covid policy remaining closed opec cuts and the russia/ukraine war. is there one theme for 2023 that investors should watch the closest? >> i think there is a lot of things that we should watch out. i think if i look back at 2022 and something, if history is telling us something, three things that will keep us a hint for 2023 the first is despite sanctions from russia which is the top third producer in oil and despite opec plus cutting barrels per day and the shared production in 2022, oil prices were lower last year from where they started the beginning of 2022 that was surprising. i think it is quite remarkable that in an environment of $100 per barrel, oil price last year, demand grew by 2.4 million barrels. that is massive growth you would not expect that at $100 per barrel. this is because central banks and governments around the world start cutting taxes and adding fuel subsidies to fuels. finally, one thing that is relevant for 2022 is that opec plus seems to be back in the driving seat share production was meant to be the swing pr

here is the latest from an opec report.upply demand to be imbalanced in the first quarter. the top official from opec saying he is cautiously optimistic. the opec countries will need to provide an average of 28.8 5 million barrels a day the first three months of the year. roughly 120,000 barrels a day less then it pumped last month. just the latest from that report from the opec countries. tom: there is a lot of unched in the report. i believe they model 3.1%, china growth and that is far below what we are hearing from some street observers and i wonder what the dynamic will be. jonathan: that is the bottom line. it will increase by 2.2 million barrels a day. while supplies will expand by 1.5 million barrels a day. do your point, tom, china clicking beckon. we will see what kind of damage that inflicts or what kind of rally that fuels. tom: and you are looking at a gallon of gas, lease and -- lisa and i always click. i know there are many other prices out there. i'm going to take it back to the pandemic. remember to dollars

we declare that opec members will have their own road map on a marketing. so this is coming up and we saw that last few months of the area and this year make new strategies and they are very positive and i'm not the member of bait. this is one important issue or america and the opec members having their own road map and i left and my energy. now question is a, are you on? this is not right time to see a site that it will be one that is c r c or some other name. but i can see there be a big change in dollar had the money and i for dollar a new that is the system new exchange on economic bilateral system in my think will be comes. i think, i think this goes very much hand in hand with what the chinese president on the russian president i've been saying for the past few months. the emergence of it's multi pola world, put a name, i've only got time for one more question. newton's 3rd law equal and opposite reactions that does it apply here with the rise of bricks? i mean, is the west heading the other way to think yes, a be observed. not only in the sector we s

i mean, you think opec is happy with current brent prices at 86?urrent prices are headed in the right direction. they are headed up i think opec will be very, very happy with their decision. back last year when they cut production and everybody else was surprised by it, right and that was back in october so come june, i think it's going to be a pivotal point. a lot will depend on exactly where china is in their reopening phase. on our balances, we actually have poeopec winning back becau they tighten that doesn't mean opec will do that they will probably replain cautious they send to remain, you know, they tend to be reactive i do think that is going to be a very, very important opec meeting. if they don't turn back on the volumes, the market could really be overtightened >> and prices will soar? >> absolutely. >> dan pickering, really appreciate it. interesting commentary, there folks. the thing you have to remember about oil and demand is we don't know what is going to happen with china china could add a million or two to three million that's goi

i think we only had to see that as well from the last opec plus meeting. we've been biden's visit to jetta to see and b s. prior c. c c's . we saw in those meetings, we saw the opec plus count countries, which obviously led by saudi arabia who chairs, but roof basically say no, they did that with oil pricing. they refused to lower the price. they said, we can't do that because we're not going to gamble with our economies anymore. we're not going to allow you to be type to off through the us dollar, which is exactly as you pointed out how they've done it, to dictate how we run our own fiscal policies and how we look after our own people in our own country. as head to the middle east, now the un representative in charge of coordinating, she said that in the middle east has called for accountability for violence by israeli soldiers against palestinians. he described the issue as a dangerous cycle of violence. the truth is, wallace. violence must be held accountable with legal justice, security forces with exercise, maximum strength and usually force. oh me wi

i think we already had to see that as well from the last opec class meeting. we've been biden's visit to jetta the cmbs prior to ccs. we saw in those meetings, we saw the opec plus count countries, which are obviously led by saudi arabia who chat. but through basically say no, they did that with oil pricing, they refused to lower the price. they said we can't do that because we're not going to gamble with our economies anymore. we're not going to allow you to be tight to off through the us dollar, which is exactly as you pointed out, how they've done it, to dictate how we run our fiscal policies and how we look after our own people in our own country. meanwhile, south africa is foreign minister has also condemned a u. s. bill designed to punish african countries for any cooperation with moscow, calling it an unlawful initiative. i believe the girl should really be killed because i think it's totally unwarranted. i think it's an intrusion that goes against international law, and we've made this clear to our colleagues in the united states. we even met with the

the review the white house is doing over the relationship with opec. going to have a meeting on wednesday to talk about where they will put oil production. they will possibly leave it where it is what experts are saying because the demand for oil is now going up. you have china reopening and that is part of the issue for gas prices going forward is that as china wants more oil, you have the same amount being produced around the globe. therefore the price goes up. >> harris: wow. and all of this it feels like a war on energy in america is being driven by democrats. if they want to show us it's not, i'm right here. thank you, edward. a veteran democratic advisor warning biden's 2024 run could be all but over in the wake of the classified document scandal. democrats say they won't back down. >> this is merely the weakness of kevin mccarthy. >> politically motivated. >> put a target on our backs and the backs of our families and real life consequences. >> harris: they lost their seats on committees and upset with the speaker of the house. but will mccarthy

and yet all these opec countries, they're all joining on board here. they're all looking to trade and national currencies. this is like, this is like a snowball, roaring down a mountain. i'm getting massively more and more big, big, big, big as every day goes past here, it looks already to me anyway. it looks like the petro dollar, which is the spine of america's budget on foreign policy, is being shattered. yes, i agree with you entirely. i think we only had to see that as well from the last opec class meeting. we've been biden's visit suggested to c and b s. prior c ccs. we saw in those meetings, we saw the opec plus count country, which obviously led by saudi arabia who chairs that group basically say no. they did that with oil pricing. they refused to lower the price. they said we can't do that because we're not going to gamble with our economies anymore. we're not going to allow you to be tight to off through the us dollar, which is exactly as you pointed out how they've done it, to dictate how we run our fiscal policies and how we look after our

i want to clarify, russia and iran -- iran is part of opec.hey are not the ones buying out of the strategic petroleum reserve. president biden went to opec to ask them to increase their production instead of doing american oil. also want to say 2015 to finish the sentence, the republican-controlled congress in 2015, it was also the obama administration worked together in a bipartisan way to unleash american energy, given a worldwide market for american energy, when you threw in president trump's administration and regulatory environment that made sense, we had record production of energy. we did ship it throughout the world. we also had record low prices here in america. the problem we are facing today is because of president biden and the democrats in congress' war on american oil. that's the problem we are here to address. the price of gasoline hit over $5 a gallon in the height of this war on oil. $4.80 a gallon in kentucky. when it was just over $2.20 something when president biden took office. american families are hurting because of this

jon: we will continue to watch the headlines around opec and opec-plus but we have a bunch of names we are digging into over the next 10 minutes. let's look at some of the stocks we are watching today with general motors wowing hall street with their outlook and quarterly numbers. popping right now, and technology we have heard about sobering layoffs. earnings season, these results with user growth are encouraging investors, shares up 12%. you were talking about the energy story. exxon shares are up right now. there was a question about whether or not buybacks could be more aggressive considering all the money exxon has been making. but perhaps that's the point. a difficult political dance right now. pfizer is a little bit weaker right now when you think about where we are in the covid storyline where the company is expecting less demand for vaccines and shots going forward. kriti: they were able to forecast all the way out to 2026. a lot to digest there, for sure. earnings relating out fast and furious this morning. one key message, margins matter. let's dive into the details with les

david: how does it affect opec-plus?> we know the ministerial meeting is not until june but there is the meeting that includes the defect of leaders, saudi arabia and russia scheduled for the first of february. opec has promised time and again to itself in the markets that they will be proactive, preemptive. i think they will also be taking lessons from the fed's playbook and the dangers of acting too little, too late. my personal view is that given how many things are in flux right now, including what to expect going into 2023, they may still be in a wait and watch mode. i believe current prices are still a little above their pain threshold. i think opec-plus will be prompted to act with deeper cuts. rishaad: to add to that, what sort of price would they be happy with? i think it is more important to talk about a mode average rather than a mean average. >> if you talk about happiness, i would bet they want prices at least $80-$90 range. a lot of opec producers are coming out of nearly two years of major shock to their o

as you said, opec is expected to have its committee meeting on the 1st of february. this is the first one to happen this month they'll review the market situation. the way we're seeing it right now is the group is unlikely to recommend any changes to the current policy the oil minister described the markets as balanced. it's unlikely for the committee to advise the group to change course, add more barrels or take some off, but they would rather wait and see what happens. there's a lot of uncertainties you have sanctions coming on russian products on the 5th of february we have chinese demand which is uncertain. we don't know if the lockdowns will be eased. given these factors, i think they'll wait and see >> there's some differing outcomes a lot of people are calling for oil to spike to 100 a barrel these are physical markets where the demand could show up later on, but it feels like the bigger risk is to the downside right now. >> the expectation is that oil -- what we've been reading from bankers reports is that oil might spike up to $100 or more you have to rememb

analysts does this justify in your mind the cuts we saw the saudis make in october as a member of opec plus >> first, hadley, it is great to be here. great to be back in abu dhabi. the markets have come down a bit. we have seen recovery from the news of china reopening and everybody trying to figure out what is happening in china with the moving away from the zero covid policy when it comes to what opec plus did on october 1, we said at the same we disagreed with the decision to cut 2 million barrel we thought prices went lower and at that point prices were $88 we disagreed with that decision. we think to secure global economic recovery and avoid recession, we need to make sure we don't prop prices higher when we are trying to bring inflation down that is why we are looking at not just of the american economy, but global economy during a war and trying to make sure we have prices that consumers can afford and bring down inflation so we can return to growth. >> when you look at the latest cpi print and the macro environment, there is speculation we could see oil prices hitting as high a

i mean, we talk about opec. opec is an organization of government, so and when it comes to stand by national interest, when it comes to private companies, you know, a corporate boards, a understandable to some extent, mr. bar, we have to take a very short break right now, but it will be back in just a few moments station. ah ah ah ah ah a ah ah welcome back to well, the parts with sunshine barrel distinguished fellow at the united service institution of india. mr. botto, before the break, we're talking about this somewhat a diversion stands on national governments may have on politics and doing business internationally and private companies. and yet, at the same time, i think, perhaps you would agree with me that the, the globalization, as we knew it only, you know, 5 or even 10 years ago. it's not there anymore. and the united states a while trying to punish some of its enemies is undermining these various systems. so let's say at the horizon of 5 or 10 years going forward. which policies, state oriented policies are state oriented intention or private oriented intention of each of them pre

analysts predict opec-plus will only start to reverse its supply curbs in the second half of this yearhas told a jury he was confident he could have pulled off his 2018 proposal to take tesla private. and the third day on the witness stand in a securities fraud trial, he continued defending his tweet, saying he had funding secured. under questioning from his own lawyer, he set aside a problem for him to raise money and every financing round he's ever had was oversubscribed. global news, 24 hours a day, on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in more than 120 countries. i'm vonnie quinn. this is bloomberg. ♪ >> plenty more to come on "daybreak: asia." this is bloomberg. ♪ thanks to avalara, we can calculate sales tax automatically. avalarahhhhhh what if tax rates change? ahhhhhh filing sales tax returns? ahhhhhh business license guidance? ahhhhhh -cross-border sales? -ahhhhhh -item classification? -ahhhhhh does it connect with acc...? ahhhhhh ahhhhhh ahhhhhh >> with the end of covid zero and pandemic controls and china, many are traveling

going to get a doubling in occidental again. >> and you're not signing otani. >> hold on the next opec is june 4th but opec, they resevenrve t right to meet whenever they want i wouldn't be surprised to hear some rumblings speaking of oil and stocks, we, meaning me, will be live in miami on thursday for the goldman sachs energy and clean tech conference all day on thursday some of our guests include the ceo of chesapeake, the ceo of sun run, the ceo of chenier and the ceo of pioneer natural resources. that is all day long we won't tell you when the interviews are, so you have to watch all day long it is a tough gig but somebody has to do it there is more "fast" to come. >> paypal ringing in the new year with a huge rally one wall street analyst sees more than 20% upside ahead should old acquaintance be for got or is this a red hot buy here we'll discuss next. >>> plus tesla shares hitting the skids to kick off the year but at what point do you consider it a buy? those details are ahead. you're watching "fast money," live from the nasdaq market site in times square. 'rback right after t

analysts claim opec+ will start to reverse its curbs at the second half of this year.to set new elections. it has disrupted mining, tourism and agriculture. . six weeks of violent turmoil began when president castillo was impeached. protesters are calling for the interim president and the conservative-controlled congress be replaced. >> a resignation and a new elections. what will they ask for? the generate chaos and anarchy in the country. they went with illegal acts such as drug trafficking, illegal mining and trafficking. vonnie: pakistan's tested prime minister says he is confident to return. to power this year. khan says he expects to win a majority when elections are held sometime in august the former leader. is also toting a planet to shore up economy and backing the imf to stave off continuing default. >> we have no choice now. pakistan has $4 billion reserves left. we are already defaulting on various areas. we will have to make policies like never before in our country, because we feel that the crisis which we are now facing and probably better time this -- p

it needs to also not just do research and pilots, but 3 focused on opec's or supporting production scale in europe with unnecessary environmental safeguards in place. so do things simpler and better than in the past if we want to still be in the game. julia paula's kind of our senior director for clean vehicles and e mobility at transport and environment. julia, thank you for your thoughts. thank you. not worn. ukraine has shown that being dependent on one single country for all materials or fossil fuels can be dangerous . this is one of the reasons why the german government is now taking a closer look at africa and aims to realign its cooperation with countries on the continent. future corporation will focus on renewable energy such as the production of green hydrogen germany. germany is already working with morocco, tunisia, south africa, and algeria, and building a new partnership with kenya. namibia is also seen as a potential new clean energy supplier, germany intense to provide 30000000 euros for pilot projects on the ground. german direct investment in africa was just under 120000

peck, increase -- to opec increase production but we're decreasing production. you say we need to get rid of police and defund the police, that's raise -- craziness. when i'm out and about, i travel a lot to help our colleagues and for fund raising for, you know, for our colleagues, people come up, the american people get it. the american people are smart, they have common sense, and they understand what in this biden administration has done with complete democrat control of the federal government is truly frightening, and they want to put a halt to it. >> host: yeah. that's super. i remember newt gingrich had a contract with america in general a couple decades back, a few decades back -- >> guest: yep. >> host: and i know you believe this, i know the freedom caucus believes this, but the people want to believe that the party -- andnd i'm just speaking for myselfel here, right? this is, these are my views individually. but the people want to know that the conference, that the republican party or some party has these principles. and when you've got 70% disapprova

we reported less from opec. we were left exposed to opec.nd the energy prices were set in a permian basin. for the world. that's something driving innovation, driving cost down. that allowed us to have flexibility. that is incredible. >> thank you for that. i read with interest your -- the article that you coauthored in the heel about what's interested russia's nuclear power dominance. it was interesting. also alarming. alarming that we've got to address this with our allies. something we got to work together with our allies. also mentioned about europe. adjust the -- i had an opportunity to go to europe with a conservative climate caucus. what we witnessed there is a situation where they've allowed policies to get ahead of innovation. shutting down nuclear plants. relying on wind and solar when they're not ready for it yet. we want to go to renewables. we all want to do that. we gotta do it in such a way that we don't allow our policies to get out of our innovation. that's exactly what they've done. the point that you bring up in this artic

whether they will be a response from opec-plus will be key in the wee everything else in the green lednsumer products and food and beverages up as well. that is a check across your sectors at 830 this wednesday morning. francine the echo francine: bloomberg has learned that china has paused massive investments. this comes as covid resurgence threatens the economy. for more on this let's talk to bloomberg's edwin chang. what does this mean for china's chip ambitions and does it suggest a fundamental shift in approach? >> i think what we are witnessing right now is a re-think of investment in the way that perhaps over the past year on china's old approach of a stimulating it's chip industry. senior leadership in beijing has come to the conclusion that throwing money at the problem does not necessarily guarantee any result. in the current environment when china is running a record fiscal deficits and spending hand over fist to fight covid nationwide, i think chip spending was one of the areas that came up for review. in terms of the longer-term fundamental ambitions, that remains unchange

number one, how much oil china buys and if opec will cut production in the coming months because chinaonomic growth in nearly 50 years. china's u-turn scrapping the zero covid policy is boosting hope of the demand recovery for the full year, but it is slowing s slog in the beginning. let's go to davos and talk to dan yergin his book is "the new map." dan, good to have you back on. i'll throw it right in there you sent us a graphic of china oil imports. i like to put that up because when china quote reopened, there was optimism that demand would boom that is not how it will be how do you see china playing out the year >> right now, i mean, what i hear here brian is in fact on the commodity side, it is bouncing back faster than people thought. as you say, the china rebound is a big factor that could tight etighten orders in the first half of the year and in the oil market that is tighter in the second half of the year >> when you say tighter, could that be tighter by 500,000 barrels per day or 2 to 3 million barrels a day? the world has the former i don't know if the world has the latter

floyd, i read in new times -- new york times article that there was a price war between russia and the opec+ countries. russia had ramped up production and that brought down the price of oil and gas. it was like $20 a barrel at one time. the article said that donald trump made phone calls to russia and saudi arabia and got them to agree to end the price war but the coproduction by 10% across-the-board to reach the price of oil. is that true? did that really happen? it was in the new york times. guest: i don't know the constants of that story. the access of the resources needed for energy generation is top of mind. i think supply change and access to oil and gas to make batteries and the like is top of mind. especially in light of the war in ukraine and geopolitical maneuvers on that russian aggression in that region. i understand why that story might concern you. host: we talked about china, the prohibiting the department of energy to sell to companies under control of china. what was the point of this? guest: the messaging behind it was to combat the ways in which as a world power china re

thus the opec secretary-general hatham al ghais . let's get to the other top stories around the world. we will preview morgan's family and coleman sachs. let's talk your tomorrows boj decisions. starting off with china, we had data today but goldman sachs says a full reopening of china this year could drive a 20% increase in chinese stocks. that data we saw had the economy growing at the slowest pace, second slowest pace since 1970's there let's bring in bloomberg's china editor jill. this data from last year before we had a reopening from china but it was better than expected. jill: that's right. if you take the data at face value you could say that economists were really not expecting much out of december and so even though things were a bit weaker, the fourth quarter weaker than third-quarter, you still saw it retails slumped a little bit. you saw industrial output take up a little bit. it is better than what we are all thinking. especially when you contrast that with some of the high-frequency data that we got out of december ear

really, the saudi's and opec can see big distances in the future. you want to lock into prices while there is still capacity. >> what do i do with the name set of diversified a lot into alternative energy and have not the same returns as a cash flow or oil business at ale -- $80 oil. what toy do with those names? >> is a great question. i'd argue that you should be very selective. you have transitioning and lower returns and renewables without much training -- trading or exposure, which could end up being very devastating to a cycle. fast forward and everyone is asking about oil growth. companies that have volume growth in transition, those are what you keep. they have been very clear that they are not giving up oil leverage. it says histories of the right because it is intact at >> give us names on the other cited of the fence. if this is a company want to be leverage to, what about companies that are making the transition? >> the companies making transition are going to struggle to some exam. they would be within the mid-caps. the u.s. majors that

and the international energy agency opec thinks that the market is more or less at equalilibrium butket. but in the back half of the year, it will be a substantial deficit as demand gallops ahead. >> i'm also noticing we're seeing metals on the move. >> so copper and aluminum hit their highest since june now, interestingly, goldman sachs out with a big call on aluminum they raised their target now aluminum averaging $3 t,125 per ton, and those prices are up this year. >> thank you for that. >>> stocks continue to give back gains. the dow down more than 400 points right now for more on what's moving the market, let's bring in michael, founder and ceo with destination wealth management. good to have you with us why is the market down so much today? >> it's hard to say. probably what's happening is there's concern that we're going to have a deeper recession than many are -- were starting to predict the soft landing scenario i think soft landing is overly optimistic i think we'll be in for a mild recession. i don't think it's going to be a deep recession but soft landing is a dicey bed.

in the meantime, representatives of the opec+ coalition will meet in the future to check the level of oil production. production agent of amin sada and sima news agency , hassan rait . us secretary of state, israeli, saudi authorities and a meeting chaired by this person said about iran, "i hope their stubbornness will prevail, that life will be very difficult for their people, and in that case, they should return to negotiations, and obama's new agreement will lead to another revolution in iran." shonde, one of the executive directors of this meeting, said that this is the first time in the history and time of the iranian revolution that such a group of opposition representatives from all over iran have gathered together to agree on the future of iran. not like the news agency al-monitor says that the presence of representatives of the group of hypocrites and separatists in this colorful meeting with such meetings and the continuation of economic sanctions is planned in such a way that any protest gathering in iran will be thrown into chaos, like the protests that took place one mont

we have a city president begging opec to increase oil production. this is a shock because america was the world's largest oil and gas producer, energy dominant, just prior to all this. now where -- we have russian oil imports reaching record levels. so this is shocking. who are going to be turning over our energy dominance in under the green new deal for reliance on chinese miners -- this is going to be done by slave labor in china, and human rights abuses in africa when they do mining things like mining coal, metals, things like solar power, electric car batteries. the green new deal is the, lose lose, lose proposition for americans, and they will do nothing. it will do nothing not only for the climate and extreme weather, as it's being cold, it will do nothing for co2 emissions. it is literally failing cost-benefit, a sniff, testa fails logic test, it fills the signs, testicles the public policy test. that is when a book goes through. it is perhaps one of the most ill-advised plans ever devised and hoisted upon the american people in decades, at l

chairman any opec. >> i thank you. and i would like you to sign how this hearing will proceed and will have five minutes to provide a statement in each subcommittee member will have five minutes for questions please ensure that your microphone is on you be in speaking to return to mute when finished and just an announcement, we are members of congress are expected in the rotunda at 10:45 for the gold medal ceremony and so i plan to introduce each of our witnesses to try to get elise through a couple of the opening statements and will probably have to break and reconvene around 1:00 p.m. i'd like to introduce this person serves as policy director for the u.s. cooperatives and national grassroots membership organization and a cooperative cooperatives three or 50 businesses and organizations in the estimated 1000 worker co-ops and 10000 workers across the country and additionally, she is a founding board member of the philadelphia area cooperative alliance and answers on the -- serves on the board of directors for the sin

i don't think the -- pretty obvious that opec plus is not going to flood the market with oil and gas.watch this price go up and then watch the president eventually blame vladimir putin again. >> ainsley: right. here is some of the blames or the reasons he says gas has gone up over the last, you know, throughout his administration. there's the climate event, the corporate greed, the price gouging, putin price hike, covid and opec plus. >> steve: right. exactly. now, keep in mind, the price of gas would be much lower if this administration did what the last administration did and opened up america's oil fields to production. but they will not do that because they want everybody to drive an electric car. the rnc put out a tweet yesterday said gas prices up 1.03 from where they were when joe biden took office. the average family in america, because of the cost of oil and energy has lost $2,250. you have lost that at your house. because of energy. and when you look at it, the prices are still nearly double what they were during donald trump. >> ainsley: so many people weighing in on this o

months now which we think will show up in the second half of 2023 as shale disappoints and brazil and opecome shy of expectations. that can lead to the prices going higher and throwing a wrench on lower inflation talk. jon: i am bringing tom into the conversation. this is a big conversation point for those who are bearish on the equity market for 2023. as china's economy comes back, maybe it fuels commodities, but complicates the ability to tame inflation we have seen signs of easing price pressures. where do you weigh in on how that plays out? tom: that is the big question. fourth-quarter numbers out of china overnight were a little bit better than expected but still painted a picture of a very weak chinese economy continuing to wrestle with covid zero. our expectation is that that is going to be the short-term story, but the longer-term story looking into the second quarter and beyond is going to be quite a strong chinese recovery. we have penciled in chinese growth of 5% and the way things are looking risks to that are firmly tilted to the upside. that raises the question, if china is c

everything they have done has been a mess, we went from energy independence to the president begging opec to increase production, from a secure border to chaos, stable prices to inflation, relatively safe cities to crime everywhere because they want to defund the police and on and on you go. all that is important. all those policies are bad and we need to fix them but they are not the ones that concerned me the most. the ones that concerns me most is the attack on freedom, the attack on the first amendment and i write about that a lot in the book and i give examples of where they have done it, specifically, the nature of my committee assignments guy i'm on the judiciary committee, seems like i have been involved in every big investigation that has happened in the last 10 years, the irs investigation, them and guys a select committee, the impeachment investigation, we spent a lot of time on those investigations. i write a lot about that because that is where i felt use our government infringing on fundamental rights and engaged in severe wrongdoing which that is a big part of the book as w

the green support will return, because according to the opec countries' information about the reduction in supply , the price will move in the resistance range of $100 . in this oil price will be higher for a longer period. the next year's budget has been designed iran and saudi arabia , as two of the oil producing countries, consider the range of 70 and 80 dollars as the basis of their own budget , and in my opinion, a figure of region 3 can be the price floor that we will see in the medium term, zahra , a scientist of the news agency. seda and sima until 16:00, the leader of the revolution's 3-hour visit to the exhibition of domestic capabilities in the field of production, an exhibition on the occasion of the year named after the production of job-creating knowledge, production in the mining sector has always been negative for the past four years, and this summer , it was recorded that i ranked seventh. of stocks about positive in the steel chain is almost complete. most of the parts that we produced with you are now in the design department . it is not known who produced them. knowl