it's roughly about 7% to 8% of the current gas production in the permian basin. and it's got to stop. ♪ ♪ this simple banana peel represents a bold idea: a way to create energy from household trash. it not only saves about 80% in carbon emissions... it helps reduce landfill waste. that's why bp is partnering with a california company: fulcrum bioenergy. to turn garbage into jet fuel. because we can't let any good ideas go to waste. at bp, we see possibilities everywhere. to help the world keep advancing. (nicki) hi, everyone. ♪ we just passed the one year anniversary of our 5g launch, so let's think about it... we were the first in the world to launch 5g mobile. we flipped the switch on 14 nfl stadiums and with 5g ultra wideband, we hit over 2 gigabits per second. and we're gonna be in 30 cities by the end of this year. so thank you all. ♪ if you're stayingcessful businessat holiday inn.is easy, >>> rapid growth of shale has created an opportunity for america to do what was unheard of -- export gas to global markets. for decades, these terminals on the louisiana-

we instantly said we want all 3 melanie griffith and assoate judge for child protection corker permian basin challenge for siblings to get separated and sent to ny are different parts of the we have shortage of foster homes. i'm not just here butdefinitely here but we have a shortage of foter homes across the country across texas. >>we have children who come into cps custody and they are placed and houston. >>but after 16 months hankin shot his home offially grew to a family of 7, but their biological 10 year-old son taylor, ere seem to be 3 year-old adoptedaughter, anna lynn, and these 3 boys they call their own these boys are like my boys, i love them. >>and really i know we're providing. i always tell pele they're bigger blessing to >>as of september there are mo than 6500 children and teens in the stat taxes leally free for adoption. he one families to now that these kids all deserve a yes, it's well . this enduring that is worth it. >>there'no more rewarding thing than to change the life of an interview. >>i havstory spy ring no doubt that wraps up kron 4 news at 5 thanks being with us

and here, you know, in the southwest region, it's the permian basin and the four corners region where there's been extensive fracking and oil and gas development. amy: nick estes, you focus on seven historical moments of resistance in your new book "our history is the future." you say they form a historical road map for collective liberation. how didid you choose these histories? just quickly take us through them. >> sure. so i begin at the camps. i begin in the present, you know, at standing rockck. and then i go to the fur trade with the first u.s. invasion, which was lewis and clark, who came through -- who trespassed through our territory and were stopped by our leadership. and then i go through the indian wars of the 19th century and the buffalo genocide. and then i go into talking about the damming of the missouri river in the mid-20th century, and then looking at red power in the 1960's and in the 1970's and how all of these indigenous people who were were relocated because their lands were flooded by these dams eventually found themselves and created sort of the modern indigen

as it made good progress on divesting non core assets following oil permian basin as it made good progress on divesting non-poor assets falling oil prices and oversupply continues to be a concern as exxon is exceptionally vulnerable to oversupply continues to be a concern as exxon is exceptionally vulnerable to any slowdown in global growth year to date exxon is flat as the entire energy to any slowdown in global growth year to date exxon is flat as the entire energy sector is facing headwinds from higher production costs and weakness in refining sector is facing the headwinds from higher production costs and weakness and refining. earlier this week the asia pacific economic. earlier this week the asia pacific economic cooperation summit set for mid november in santiago chile was cancelled amid what cooperation summit set for mid november in santiago chile was cancelled amid widespread protests in the nation due to its proposed increase in public transportation fares spread protest in the nation due to its proposed increase in public transportation fares and what demonstrators cal

as it made good progress on divesting growth continues ahead of schedule in the permian basin as it made good progress on divesting non-poor assets falling oil prices and oversupply continues to be a concern or assets falling oil prices and oversupply continues to be a concern as exxon is exceptionally vulnerable to any slowdown in global growth as exxon is exceptionally vulnerable to any slowdown in global growth. year to date exxon is flat as the entire energy sector is facing headwinds from higher production career to date exxon is flat as the entire energy sector is facing headwinds from higher production costs and weakness in refining. costs and weakness in refining. earlier this week the asia pacific economic cooperation summit set for mid november and saw earlier this week the asia pacific economic cooperation summit set for mid november and saw.

as it made good progress on divesting non core assets following oil permian basin as it made good progress on divesting non-poor assets falling oil prices an oversupply continues to be a concern as exxon is exceptionally vulnerable to oversupply continues to be a concern as exxon is exceptionally vulnerable to any slowdown in global growth year to date exxon is flat as the entire energy to any slowdown in global growth year to date exxon is flat as the entire energy sector is facing a headwinds from higher production costs and weakness and refining sector is facing a headwinds from higher production costs and weakness in refining. earlier this week the asia pacific economic. earlier this week the asia pacific economic cooperation summit set for mid november in santiago chile was cancelled amid what cooperation summit set for mid november in santiago chile was cancelled amid widespread protests in the nation due to its proposed increase in public transportation fares spread protest in the nation due to its proposed increase in public transportation fares and what demonstrators call

$55000000000.00 acquisition of anadarko petroleum the company which has large operations in the oil rich permian basin announced a budget of 5500000000 in capital expenditure for 2020 down from more than 3 but are down more than 3000000000 in 20 from 2019 occidental estimates oil and gas production will grow by 2 percent in 2020 down from the 5 percent projected when finalizing the end of darko deal in august the american oil company is also looking to pay down the massive debt it took on for the anadarko deal that was at 43900000000 on september 30th nearly 6 times higher than that of the year before meanwhile in other or oil giant related news sources close to the planned saudi aramco i.p.o. are saying the government is planning to sell 2 percent of the company in domestic listening on december 11th the sources added that the government will also refrain from an international listing for at least one year. remember one bitcoin soared to nearly $20000.00 each well most people who own any crypto do but now a new paper published by the university of texas professor john griffin and ohio state universit

the permian basin is already growing at a fast pace, but they are years away from delivering free cash to keep investing so they can sustain at the very large dividend commitments that they have to their shareholders. guy: is there an opportunity for m&a? many of them are struggling as are some of the bigger integrated companies looking to gain access? fernando: they are. it is going to take a while because they have the means to wait for further stress in the sector. not all of these players have the anchorage that is attractive enough for them to make a move. chevron, the anadarko deal was attractive because they had acreage and you would give them space to grow faster and actual synergies in the development. acreage,ve second-tier if you are in the outer plays, there is really not a lot of interest in acquiring you right now. they would rather wait for there to be more stress in the sector before making a new deal. i think you have learned from experiences when some of the majors bar early on. you do not want to catch a falling knife. you want to wait until you see a oil andg in the

charles: i like the permian basin names are reacting because they have been slaughtered. >>> elizabetharren is pitching her "medicare for all" plan and it might not work out. according to data from news whip provided by axe sy owes, 70% of the most engaging articles on social media are about warren's plan in the last two weeks however they were negative. hillary clinton says warren's plan would never get enacted. foundation for research of equal opportunity president. you studied this for a long time. one thing though, you do agree the health care system is broken. you do agree with elizabeth warren in that area? >> oh, yeah. elizabeth warren is right, a lot of people can't afford their health insurance. not just 29 million people uninsured. it is 100 million more who have insurance but premiums are going up. deductibles tripled in the last 10 years. people are a lot more exposed to rising health care costs than they used to be. charles: what do you make of this battle in the democratic party about a month ago, "medicare for all," everyone raises their hands, we back it, all of sudden

and young, talented people much rather work in palo alto that in the permian basin. there's no doubt that we're going to rely on hydrocarbons for a very, very long time too. they account for 85% of our energy today, and will likely account for around 75% of a significantly larger base by 2040. the challenge for leaders is to build a future in which oil and gas still underpins human prosperity, but in which the climate is not at risk from unintended consequences. in other words, we need to take the carbon out of hydrocarbons. that's something i've been trying to encourage people to do for several decades. in 1997, as ceo of bp, i became the first leader of a major oil and gas company to recognize the threat posed by climate change who pledged to do something about it. that was more than 20 years ago, and there's a huge amount still to do. i have some ideas about what action oil and gas companies might take today, and we can certainly discuss those things later. but for now let me if i may conclude with a quotation, probably my favorite quotation, from president abraha

you literally had heavily shorted permian and bakken basin companies jumping 75% in a day that didn't last for the really levered ones. >> the oasises, the continentals, not the exxons and chevrons, whose numbers we'll get to in a bit, courtney. they weren't terrible, but no way they were good >> isn't it interesting how short-lived that rally was on what years ago would have been a monumental event >> well, we are awash in oil and i think it goes to part of the economy, which is that we always talking about gas prices spiking. assist drain on the consumer we don't have that is this a bit -- and i don't want to say goldilocks, because not everything is perfect. overall, when we look at the macro economy from 30,000 feet, does it look pretty good to you? >> it does it does. but that's not to say that there are not risks. and it's not to say that the pace of growth is going to be above trend. we're not thinking that way. we actually think that growth slows in the second half of the year, slows into 2020. but i think it's safe, in our view to assume that a recession is avoided and part o

pioneer and chevron will attempt that in the permian basin.mfortable with oil in this environment? scott: i was able to give advice to my son. he probably did one of the few deals that were very successful. he asked for my advice i did not know the company. i said has to be contiguous acreage and it has to improve your balance sheet. it met both of those and that is why the stock has come back. not too many of those companies can do those deals. alix: can you? pioneer has over 10,000 drilling locations. we do not need to do a deal for a long time. we have a long inventory that will last decades. michael: i am curious to go back to something you heard -- something you said earlier about no projects between 2021 and 2025. how come? if we are not going to peak until 2030, you would think the oil majors would be looking for more stuff. scott: it is interesting what happened. brazil is an example. a move and wanted to shut down u.s. oil shale and shut down exploration and shut down canada. he was successful in shutting down canada. he was successfu

they are playing the permian basin.of that, and weakness which is happening right now, they will be able to buy a lot more land and do much better with the permian. stuart: do you own chevron now? >> i do. i have owned it for some time. stuart: okay. you think it's going to go straight up or nicely up? >> i hope it goes straight up. i think it's going up from here. stuart: you said it. chevron. november 22nd, 2019. watch out. that videotape is something else. thanks, john layfield. we always like having you on. welcome back. thanks. >>> victoria's secret. cutting the big fashion show. why? deirdre: well, they are just not getting the viewership that they had gotten in years past and the brand is suffering. there's new brands for women's underpinnings in the market that appeal a little more to millenials. rihanna has her own line, target has a very successful line. it's been a big winner for them. there are some other lines that are just available through internet, you order via instagram. all this is kind of eating into

patch wasn basin oil once a job machine for texas is now drag on job creation. according to the dallas fed, employment in the permianmonths of this year. in 2018 and added almost 17,000 jobs. drilling activity in the region has dropped to the lowest level in almost two years. that is your bloomberg business flash. let's talk about the central bank in europe. christine lagarde calling for a review of monetary policy in her first month as president of the european central bank. mending divisions within the central bank opening counsel is no small feat. here with more is our reporter who covers european economics. great to get your thoughts. we heard in the last week from christine lagarde talking about the need to review the 2% goal for inflation the bank had. does that suggest we will see everyone agree on a new target for inflation? >> not at all. you are right, christine lagarde has made it clear she wants to review the monetary policy strategy of the ecb. this is quite a big move. it happened more than 15 years ago for the last time. this means looking again for example at the target for the ecb which is below but