my problem is this spill gives fuel to environmentalists. >> pegasus is a pipeline with a 10th of the capacity of keystone xl. you build keystone xl, you have a more significant -- a 10 times more significant risk if there is a spill. >> this is a great example of what could happen if the keystone xl pipeline is permitted and built. >> the dangers are analogous. >> stephen: analogous are they? let me tell you how i feel about that. let's see. possessing corresponding qualities. similar to. i disagree. [ laughter ] i think these critics are just being anaphylactic. [laughter] look it up. i don't know why people are worried about an oil spill from this pegasus pipeline, or from the keystone xl. an oil spill for never happen. because for legal and tax reasons, the black, sticky stuff in both pipelines isn't classified as oil, it's diluted bitumen. [laughter] so good news, arkansas! you don't have an oil spill, you have a bitumen spill! [laughter] it's merely a combination of heavy crude and sand mixed with light hydrocarbons that's difficult to clean up because it sinks in water. see? ou

the shutdown of exxon pegasus pipeline helped fuel, raising fears that crude inventories would rise.the day $97.7 per barrel. up next on "money," commodities investors have completely missed this year's bull run, but are the dog days for commodities finally coming to an end? stay right where you are. details on how to cash in. piles of -- coming up. ♪ ♪ adam: it does not matter what time it is, "money" is always on the move. take a look at shares of? , soaring after hours. this comes after regulators approved alan to improve plants. stocks stored in the first quarter of the year, no doubt about that. record levels combat the same time commodities posted the worst first quarter we have seen since 2010, the drops in prices are being blamed on increased output, decreased demand for things like metal, oil, even food crops, whatever the reason, we are going to tell you how you can make some money, even of the low prices. trying to turn the managing director of weatherspoon asset management which specializes in commodities futures investment. >> right to be here. adam: i think it would be

you take a look at pegasus and keystone x.l . pegasus is a pipeline a tenth of the capacity of keystone x.l . you build keystone kp +*l you have a ten times more significant risk? f there is a spill and what is the benefit to the u.s. public? you're dealing with a low-quality crude that increases climate emissions well above conventional crude, has increased risk to u.s. water bodies and communities and is meant to go through the u.s. in order to bring tar sands to gulf coast refineries which are now exports over three million barrels a day of refined products. >> woodruff: so he's making the argument against the keystone x.l. pipeline -- or expanding it. >> we have not reached the goal yet of zero pipeline accidents. the industry works hard for that. the safety record has improved. over the last ten years the number of accidents per miles of pipe has dropped 60%. the industry spent 1.1 billion dollars in just 2011 on this. it continues to work everyday on this. >> woodruff: making safer pipelines? working on the oil? how? how ar

and they have the latest technology on their pegasus pipeline.ake sure it's fine until there are spills. then the reality, the pipeline is 65 years old and it's bringing canadian crud oil as the keystone pipeline would and as we saw one of these pipeline problems over the weekend abc has the report on that. this easter sunday it 2 22 families are out of their homes as crud oil spilled on toed. >> we were told to pack for two days. it would be cleaned up. again we were told just this morning to pack for a week. >> exxon mobile 800-mile pegasus pipeline broke friday as canadian crude oil from illinois to texas. the spill has refueled concerns about pipeline like the controversial keystone pipeline which would transport oil from illinois to texas. >> cenk: they're bringing it down from illinois to texas because it's coming down to canada, and exporting it out of the country. when you hear, oh, energy independence, nonsense. this is all about making money for exxon mobile. they're sending it to different parts of the world. if it blows up while it's

the shutdown of exxon pegasus pipeline helped fuel, raising fears that crude inventories would rise. pared back from session lows closing down $0.16. at the end of the day $97.7 per barrel. up next on "money," commodities investors have completely missed this year's bull run, but are the dog days for commodities finally coming to an end? stay right where you are. details on how to cash in. piles of -- coming up. ♪ she knows you like no one else. and you wouldn't have it any other way. but your erectile dysfunction - you know, that could be a questi of blood flow. cialis tadalafil for daily use helps you be ready anytime the moment's right. you can be more confident in your ability to be ready. and the same cialis is the only daily ed tablet approved to treat ed and symptoms of bph, and the same cialis is the only daily ed tablet like needing to go frequently or urgently. tell your doctor about all your medical conditions d medicatis, and ask if your heart is healthy enough for sexual activity. do not take cialis if you take nitrates for chest pain, as this may cause an unsafe drop in

keeping in mind that the pegasus pipeline was about a tenth the size of keystone x.l. this should factor into that public debate because you know it's a tragic warning of what could happen with these major high capacity tar sands pipelines and let's talk about the keystone x.l. pipeline i mean last week the u.s. senate held a more or less symbolic vote in favor of the keystone x.l. pipeline and obviously something that we've been fighting for for quite some time and terms that the u.s. what could this potentially mean it for environmental safety well i think that it really shows the american public what the risks of tar sands pipelines are i mean right now most americans think this is a conventional oil pipeline bringing oil to the united states but the reality is it's moving a. substance is dramatically different has increased risks and it's actually moving this tar sands not to the united states but through it in order to get it to the gulf coast where millions of barrels a day of refined product are exported to the international market so it's really not a pipeline

as is often the case is one of the residents whose homes are affected by the pegasus pipeline spill as chris harrell is talked to hi there chris thanks for taking the time to be with us in our t. tonight how was your town of mayflower affected you see the pictures it's hard to get the scale of it just the pictures how does it affected you and the people you know sure well it's an absolute mess huge inconvenience and there's a lot of concerns about what happens next yes and that's a question what is going to happen next. when the cleanup the cleanup process is ongoing right now and there's a lot of personnel and equipment in the area. but so they're saying it could take weeks or months to get it close to some sense of normalcy i just allowing people back fully in the neighborhood that leaks we definitely stop now yeah. that's correct they shut some valve on up the pipe they all had to go in and excavate this section and then see about replacing it i suppose how close was it to houses where people live. well it actually went through some yards and some of the houses and down more of the

you might be asking, stephen why haven't we heard anything about the cleanup of the rupture of the pegasus pipeline? because exxon has contained the cleanup coverage by threatening to have reporters arrested for trespassing and at exxon's request, its f.a.a. ordered a no fly zone over the area and everyone is respecting the no fly zone, especially the birds. [ laughter ] but not everyone is heeding the constitutionally guaranteed exxon press blackout. some lefty ground water hugger snuck past it and broke into arkansas. this is video by activities with the group. >> this is where they pump the oil that spilled into the neighborhood. they pumped it into this wetland. >> eric says he spoke with eyewitnesses who claimed workers power washed oil into storm drains. >> stephen: of course it's going into the storm drains. they are just putting it back underground where it came from. it's called recycling, duh! any environmentalists don't get your hemp panties in a bunch because exxon's disaster relief team has the situation under control. >> the workers have been there. they are using some kind o

the department of transportation issued an order presenting the company from restarting the pegasus pipeline until they are satisfied with repairs. nearly two dozen families have been evacuated as they work to remove the oil from their properties. many never realized there was a pipeline near their homes. >> if we wanted to, we couldn't go back. if we wanted to stay in our home, we could nlt. i was there ten minutes max grabbing items. my head began to hurt from the fumes. i wouldn't dare take my children into that. >> exxon will pay for the clean up. the age of the pipeline does not determine the integrity. the company is up to code when it comes to checking it. exxon was fined three years ago for not inspecting another section of the pipeline frequently enough. >>> let us know why you are awake at this hour. seriously, why are you up? tweet me@peter alexander. still ahead, texas rangers pitcher, yu darvish looking to make history. the final out just one battle between you and history. we'll show you how it ends in sports. the diving video. i missed this. louie giving it another go for the

last weekend, exxon's pegasus pipeline ruptured, pouring out 5,000 barrels of crude oil near little rock, arkansas. 30 minutes after the spill, emergency responders were on site. the ceo says exxon will pay for the damage; however, no timetable was given. the arkansas attorney general is moving forward with an investigation into the incident. in a check-up on ceo pay, the head of cable programmer discovery communications reportedly took home a cool $49 million in 2012, down from $52 million the previous year. jc penney ceo ron johnson's pay package was severed by 96%, going from $50 million to $1.9 million, after the retailer faced continuing problems. and former wellpoint ceo angela braly received $20 million in compensation, despite resigning under pressure in august. a former goldman sachs trader faces up to 20 years in prison after pleading guilty to wire fraud. matthew taylor surrendered to the fbi wednesday. the cftc accused him in november 2012 of hiding an $8-billion position on a futures contract that cost goldman more than $118 million. his bond is set for $750,000. defense sto

investigations into the pegasus pipeline are ongoing. exxon mobil said a recent inspection of the line showed no red flags. a spring surprise is happening at gas pumps around the nation. for the first time in a decade, gas prices fell in march and could continue to fall. prices dropped because of an increase in refinery production and lower oil prices during the month. according to aaa, prices at the pump declined 15 cents in march. the average gallon of regular gasoline is going for $3.63, down dramatically from a year ago, when prices were close to $4. onto today's ipo watch. two new companies plan to go public this week, and one drops out of the race. this week, texas- based bank "independent bank group" is expected to launch its ipo. it plans to raise $80 million with 3.2 million shares at between 24 to 26 dollars. cancer diagnostics company "cancer genetics" is expected to price in on friday, after postponing its ipo last month. meanwhile, toys'r'us has scrapped plans to go public. it reported the news after announcing 4th quarter e

another portion of the same route frequently enough environmental consultant richard steiner says the pegasus pipeline has run its course a long time ago there's no excuse whatsoever for oil pipelines to be anything over thirty years old or general design life is maybe twenty to thirty years there's been several spills about six or seven of this heavy diluted bit timid it's called dil bit which is the tar sand oil which is so thick it can't be transported through a pipeline unless it's cut with condensate and benzene exxon has shown time and time again that they are not willing to accept responsibility legitimate financial responsibility for their actions however or negligent they are they got out of the alaska spill with you know about a billion dollars paid to private thirty thousand private litigants that should have been by many of their estimations much much more than that so they have a history of short changing responses. well the spill has stoked worries about environmental hazards of using aging pipelines to transport launch amounts of crude oil from canada as it's increasingly becom

. >> reporter: exxon-mobil's 858-mile pegasus pipeline broke friday, as it transported canadian crude oil from illinois to texas. in an interview with abc news, exxon-mobil regrets the spill. >> we're very sorry. this should not have happened. and we apologize for it. we're going to be here until the cleanup is complete. >> reporter: the spill has refueled concerns about pipelines, like the controversial keystone pipeline, which would transport oil from canada to the gulf coast. congressman ed markey has opposed the plan for years. >> so, all we have to do is pay more, both in terms of money at the gas pump and cost to the environment. >> reporter: today, markey told abc news, the arkansas spill is a troubling reminder of pipeline safety concerns. but exxon-mobil tells us pipelines are still the safest way to move oil. meanwhile, 12,000 barrels of oil and water have been vacuumed out of that neighborhood, and david, the company says it is still investigating what caused the spill. >> could be some time before these families get back home. gio, thank you. >>> now to another developing

largest oil companies responsible for the disaster and chris harrow whose home was affected by the pegasus pipeline rupture told us here about it right i got off work early and was headed back to my home and the police officer at the entrance to the neighborhood not allowing anybody in i asked why he said the issue was there was no will still in the area and i told him our family and my wife and children at the home so he allowed me in a little town to get them on the road in and to kind of survey the damage and it was all just flowing down the street behind our house when i actually went through some yards and some of the houses and down one of the main streets in our subdivision it's a big effect on quite a few houses what about the people who were turfed or the houses i think it was twenty two doctors affected what are they back in their. notes or there are still staying in local hotels in the area. they've been allowed back in their homes through you know twenty minutes at a time and together belongings take care of pets and they don't know when they'll be back for good i guess a lot o

department of transportation's others like the pegasus oil pipeline which birth american soul were constructed even earlier soon after world war two billions of dollars worth of oil flowing through these pipelines. are now in twenty eleven of the big fireball oil firms or exxon mobil wrought royal dutch shell b.p. one of them phillips and chevron had a combined revenue of nearly two trillion dollars a congressional report put their turnover at more than ten percent of the country's g.d.p. but is a point of huge profits the government and the corporations are seem reluctant to update the plant infrastructure environmental consultant richard steiner's says the pipeline is among those which have long caused this sell by date. there's no excuse whatsoever for oil pipelines to be anything over thirty years old or general design life is maybe twenty to thirty years there's been several spills about six or seven of this heavy diluted bit timid it's called dil bit which is the tar sand the oil which is so thick it can't be transported through a pipeline unless it's cut with condensate and benzene exxo

pegasus pipeline as it's called ruptured on monday near mayflower. these are some of the first pictures we're seeing. exxon was fined three years ago for not properly inspecting another section of this aging pipeline. the spill renewed scrutiny on pipelines as the push to approve the keystone project, of course, spanning from canada to texas intensifies. and not helping the public image, this you-tube video of a mayflower resident driving around his neighborhood. look at that, some of the thousands of gallons still seeping across front lawns and into the street. >> our house is here, which is seemingly unaffected. the smell is unbelievable. i mean, look. incredible. that is oil. >> oil right through his neighborhood. other news now. apple ceo tim cook spending his monday apologizing to customers in china who are frustrated with the company's customer service. china is obviously a major emerging market for the company that's faced criticism over the product warranties that earned the headline for the newspaper, defeat apple's incomparable arrogance. l

department of transportation some including the pegasus pipeline which caused trouble in the action for and it was constructed even before the nine hundred fifty s. and sixty's now billions of dollars worth of oil flows are through these pipelines every year in the two thousand and eleven five all of the industries giants axon a mobile royal shell b.p. conoco phillips and chevron had a combined revenue of nearly two trillion dollars congress says of their turnover is equal to more than ten percent of u.s. g.d.p. but this point to the huge profits the government and corporations are cutting corners when it comes to repairing and renewing infrastructure and environmental consultant richard steiner says the pipeline has long passed is used by date. there's no excuse whatsoever for oil pipelines to be anything over thirty years old their general design life is maybe twenty to thirty years there's been several spills about six or seven of this heavy diluted bit timid it's called dil bit which is the tar sand the oil which is so thick it can't be transported through a pipeline unless it's cut

just two years ago the silvertip pipeline owned and operated by exxon the same company that owns the pegasus line leaked fifteen hundred barrels of crude into the yellowstone river even scarier for the first part of the keystone pipeline keystone one suffered twelve spills over the course of just one year between two thousand and ten and two thousand and eleven so can we really trust the oil companies when it comes to environmental safety or last week's disasters just a taste of things to come let's ask bill mckibben author environmental activist and founder of three fifty dot org and anthony swift attorney for the international program at the national resources defense council bill anthony welcome to the program both it's a pleasure to be on time and i thank you glad to have you with us a bill. and so it's time thanks bill so bill let me start with you what what's your take on the public consciousness of the you know i would call a crisis of this oil spill potential crisis as a consequence of these spills has this awakened anybody as a getting any media attention attention it's getting a lo

how do you -- what do you way to critics who cite the pegasus spill as a small scale example of whatmight go wrong with keystone? >> well, as i said in my comments, we have to be honest about the fact that if we do have energy development there is the risk of really incidents happening. and it is an unfortunate incident. it impacts people's lives. but the strength that we have is that we have a regulatory process and we have industry that is accountable for when those actions happen. the other thing to take a look at is that what we're talking about with keystone is a pipeline that is going to be, of course, state-of-the art technology. as i said earlier, you know, we walk around our communities and probably don't realize how much pipe there actually is underground. we shouldn't be worried about that because the point is we don't know it's there because overall these are very isolated incidents and they don't happen as often as people might suggest that they could. the other comment i'd make, and you raised it in the context of railcars is, of course, rail is a very important part of

twenty ninth up to twenty one households were forced to evacuate their homes as exxon mobile mobile's pegasus pipeline burst spilling countless of gallons of oil extracted from canada and when we last reported on the story here at r.t. exxon mobil said that the spill amounted to only if you thousand barrels however exxon mobil spokesperson ken jordan said that they actually had to clean up one hundred thousand barrels of oil from a little rock suburb now that's up from last week's estimate of twelve thousand barrels exxon mobil and local authorities claim the spill has not affected the town's drinking water and i've stated that wildlife effective have in fact been cleaned up with plans of returning the various animals to the neighborhood state wild wildlife park however these claims have been hard to verify since access to the site has been limited now several journalists have reported being blocked and even threatened with arrest while attempting to enter the spill site also the f.a.a. has turned the sky above the affected site into a restricted air space we'll keep you posted on the story a

department of transportation those figures some including the pegasus pipeline which is one the cause the trouble in arkansas this time around were constructed even before that bill is a dollar's worth of all flows through these pipelines every year in twenty eleven to five of the industries giant exxon mobil royal dutch shell b.p. conoco phillips and chevron had a combined revenue of nearly two trillion dollars congress says that turnover is equal to more than ten percent of u.s. g.d.p. but despite the huge profits the government of corporations are cutting corners when it comes to repairing and renewing infrastructure environmental consultant richard steiner says they are console pipeline is long past its use by date. there's no excuse what so ever for oil pipelines to be anything over thirty years old or general design life is maybe twenty to thirty years there's been several skills about six or seven of this heavy deluded bitumen it's called dill bit which is the tar sand oil which is so thick it can't be transported through a pipeline unless it's cut with condensate and benzene e

twenty ninth up to twenty one households were forced to evacuate their homes as exxon mobile mobile's pegasus pipeline burst spilling countless gallons of oil extracted from canada when we last reported on the story here at r.t. exxon mobil so the spill amounted to only a few thousand barrels however exxon mobil spokesperson kim jordan said that they have actually had to clean up nineteen thousand barrels of oil from little rock the little rock suburb now that was last week's estimate which was twelve thousand barrels. exxon mobil and local authorities claim that the spill has not affected the town's drinking water and a state of the wildlife affected has been cleaned and they have plans of returning the various animals to the neighborhood but also state wildlife park ever these claims that been hard to verify as the access to the site has been live in it several journalists have reported being blocked out and even brought in with the rest when attempting to enter the spill site also the f.-f. that the f.a.a. has turned the sky above the affected site into restricted air space. now we're goin