energy need isn't venezuelan oil fields or iran, but rather, it is right here in texas in the permian basinnd throughout the state of texas. we will drill, we will frack. we will produce and we will lead the entire world. and we will never again let foreign dictators hold american energy independence hostage. third, we must defend our god-given rights. not some of them, not most of them, but all of them. the right to speak truth in an age of enforced lies. the right to worship the lord god almighty with all of our heart, mind and soul without government getting in the way. and the right to protect our families without asking bureaucrats for permission. but above all, this mandate means fighting for what we believe in. fighting every day in every way that matters, fighting for texas jobs, texas values, texas families. fighting for the constitution and the bill of rights. and fighting without retreat and without apology. because this is not just about politics. it's about preserving a way of life that is made texas the last best hope for freedom for mankind. i know this in my bones. you see,

[applause] but rather, it is right here in texas in the permian basin and throughout the state of texas[applause] we will drill. we will frack. we will produce, and we will lead the entire world. [applause] and we will never again let foreign dictators hold american energy independence hostage. third, we must defend our god-given rights. not some of them, not most of them, but all of them. the right to speak truth in an age of enforced lies. the right to worship the lord god almighty with all of our heart, mind, and soul without government getting in the way. [applause] and the right to protect our families without asking bureaucrats for permission. but above all, this mandate means fighting for what we believe in. fighting every day, in every way that matters, fighting for texas jobs, for texas values, for texas families. fighting for the constitution and the bill of rights. and fighting without retreat and without apology. because this isn't just about politics. it's about preserving a way of life that has made texas the last best hope for freedom for mankind. [applause] i know this i

many women the permian basin have been meeting those needs we got to the point where we are exporting more than we were importing and you places like the bucket in the marsalis and the utica all throughout the united states and we need to cut regulation and we need to unleash the potential that we have, it creates american jobs in their partners and allies want to depend on us not russia or venezuela or china. maria: meanwhile, the president is meeting with the world largest polluter this weekend speaking with china's president xi at the apex, and south america. will he hold president xi. brian: the climate or anything else to the fire do you think. >> we have seen his track record in our enemies don't fear him, our allies don't respect him and what he should say the president xi you're responsible get 30% of the worldwide mission. and stop sending fentanyl precursors into our country and stealing her intellectual property and that's why it's so important for president trump to be inaugurated and get us back on track and any other aspect of the national security and economic puzzle. m

petroleum museum in the city of midland, part of oil country, everything here sits on top of the permian basin and oil field that stretches from west texas to new mexico. a. there's a bunch of old oil equipment here because texas has been at the center of the us oil booms for decades. and all of these behind me are old drilling rigs. they did back to the 1920s, did the 1st step. and while extraction drilling a well, then come to pops there. sometimes we can go look at over there actually. so when they 1st oil, it basically explodes out of the ground due to changes and pressure. but after a while it doesn't really explode so much anymore. and you have to actually pump these are the ponds to do exactly that. but it's not a simple process to hear more about it. we spoke to brian grant, the executive director, the oil was actually trapped with in layers of rocks that are in these different layers strata. so we have to not only drill but then we have to crack the rock. people have been cracking the rock to get that oil for more than a century, mostly with explosives. and after that, they're going t

petroleum museum in the city of midland, part of oil country, everything here sits on top of the permian basin, an oil field that stretches from west texas to new mexico. the. there's a bunch of old oil equipment here because the texas has been at the center of the us oil booms for decades. and all of these behind me are old drilling rigs. they did back to the 1920s through the 1st step. and while extraction drilling a well then come, the pumps are there. sometimes we can go look at over there actually. so when they 1st oil, it basically explodes out of the ground due to changes and pressure. but after a while it doesn't really explode so much anymore. and you have to actually pump in these are the ponds to do exactly that. but it's not a simple process to hear more about it. we spoke to brian grant, the executive director, the oil is actually trapped with in layers of rocks that are in these different layers strata. so we have to not only drill but then we have to crack the rock. people have been cracking the rock to get that oil for more than a century, mostly with explosives. and after that

you look at the lifting costs for the permian basin, every year the price dropped. why did we have a deflation? because of innovation and there's charts that show -- and we were setting the price for the world. given we were driving down marginal costs, we were able to drive inflation down. when anyone hears from president trump about driving down inflation, he talks about energy. because he achieved it during his timeframe and it was achieved because of the three points i just raised. energy innovation, good public policy, private sector capital. when we give you a few other data points. when we wanted to impose embargoes on venezuela and iran for other political purposes, prices didn't go up. where did the oil come from? the united states and canada. when iran attacked the saudi arab facilities, prices barely moved. when the united states decided to move its embassy to jerusalem, the trump administration knew that opec could not retaliate like it did in 1973. that was actually discussed in the situation. during the late 2010, the united states helped organize the

water management, recycling supply solutions to fractioners in the permian basin. engineered equipment used in the energy production process. big moves there. i can't say they're unreasonable. these are three very profitable businesses. they're about to face a much more benign regulatory environment. what else? here is a tough one. fannie mae and freddie mac on hopes trump will release these companies. i don't know if you remember them from the great recession. oh, boy, they were front and center. i don't want to get too deep in the weeds. it's a complex situation. but, in general, it makes sense for them to rally on this republican sweep. there are plenty of one-off trump trades like tesla, up 35% for november thanks to elon musk's special relationship with the president-elect. of course if musk stars getings on trump's nerves, you could see a serious pullback. i would be a buyer. how about natural groceries by vitamin cottage, the appointment of rfk jr. as secretary of health and human services. he has nutty views on vaccine, critical of big pharma but is a healt

yes, i do represent the permian basin.bout the back ken, marcellus, the other form ises that can unleash american energy. president trump is absolutely right in the first days in office to take executive action. we'll back that up in the legislative branch. we're going to continue to pass as we have hr1 and other energy related bills but here's the deal. it lowers costs here domestically. it helps our economy. it helps people live that american dream because energy is the foundation for everything that we do and our partners and allies around the world want american energy, they want lng, they want our nuclear technology. every single source of energy is going to have to be hair evidence in. harnessed, we can't afford to pick winners and losers in the government. president trump is absolute right when he says drill, baby, drill. that's the first thing he told me when he visited recently. we're going to help him do that. maria: there's a moment to cut back on regulations, right? a number of oil men and women have told me an

his family's from the permian basin in midland, odessa in west texas.tian that makes it very authentic. >> seth: that's good. so, an oil man would watch this show and be like, "it good." >> it good! [ light laughter ] ol. you wouldn't say oil, though. you'd say "ol." >> seth: well you did work. you had to work on the accent. and by the way, very -- i will say, i believe the scene we saw was your first day of shooting. and so, you are now -- you have to do a texas accent. >> that's right. >> seth: in front of billy bob thornton. >> oh, my god, i know, mr. arkansas. but it's like, the accent was so specific. everything in this job was just like, it was big time. you know, i was working with oscar winners, taylor is such an incredible storyteller. and you know, part of it is also the mental game. you know, like, you do the work. you know, i work with my acting coach and dialect. but then you have to show up. and the way that taylor shoots, there's no rehearsal. there's no blocking. this is my first day of shooting. i am in five-inch hills getting off a g-5

and then when you get to the permian basin, that is the beating heart of the texas oil patch. it goes into new mexico. they're between 9 and 15 times higher than the industry has admitted. the question now is what are these companies going to do about it? >> well, first of all, methane, man, the uk, they talk funny too. what is the trump administration's view on all this? >> well, if you take the early statements and the whole project 2025 thing, they have just sort of a sneering disdain for any regulation in this space. feeling emboldened, a lot of fracking companies are saying you can ignore this, but physics, you

and then the big daddy of them all, the permian basin in texas and new mexico, another 290 tons an hourat is 9 to 14 times higher than the rates that the industry agreed on. now, jim this was marketed as a clean bridge fuel to get off a coal. that natural gas is going to be so much cleaner than coal. but that's only true if it never leaks. and now we're seeing it leaks in ways that nobody ever imagined. it's the easiest thing to fix. it's low hanging fruit for industry to fix those leaks capture that methane and use it as a product. but the stuff is so cheap and plentiful they just let it leak or flare it before will be interesting to see what the trump administration's stances on this. a lot of fracking companies supported him. don't want any methane regulation, but imagine that is 80 times more powerful that gas than carbon dioxide in the near term. so it is vital to fix those leaks if we want to save a livable planet. >> all right. bill weir thanks, as always, for your coverage on that issue. thank you so much. in the meantime, macy's thanksgiving day preps are underway in new york c

and then when you get to the permian basin, that is the beating heart of the texas oil patch. it goes into new mexico. they're between 9 and 15 times higher than the industry has admitted. the question now is what are these companies going to do about it? >> well, first of all, methane, man, the uk, they talk funny too. what is the trump administration's view on all this? >> well, if you take the early statements and the whole project 2025 thing, they have just sort of a sneering disdain for any regulation in this space. feeling emboldened, a lot of fracking companies are saying you can ignore this, but physics, you can't ignore this is happening. this is heating up the planet in real time we're great to see you. >> good to see you. happy thanksgiving. likewise. brand new hour of cnn news central starts right now it is one for the record books, friends millions of americans on the move. >> we're going to show you right here. this is chicago o'hare. look at those shining faces everyone is jazzed to be there. 18 million will fly. so many more than that are going to be hitting th

and permian basin production setting another record chevron expects to close asset sales in canada andn the fourth quarter to divest $10 billion in 2028. cost cuts are under way. they are targeting $2 billion of cost reductions between now and the end of 2026. that's new news that the street had not heard about before the stock is up 2.5% i did speak with mike wirth, ceo, he will talk on "squawk on the street." he called it a good quarter. he pointed out cash flow is the highest this year. we mentioned they have been giving cash back to shareholders $7.7 billion that is $2.9 billion in dividend payments he said that is about two times the share energy index peers are faced with they are close to 10% return to shareholders the big question of what happens next whether they will be able to go ahead with the purchase of hess that arbitration is still on track for may. there is still a big question. they are battling with exxon of right of first refusal with the guyana assets involved with that i talked to him about what it means for a trump or harris administration he pointed out he worke

i heard it from energy workers in the permian basin.en and women who know that american energy independence is not just about dollars and cents. it's about national security and freedom. it is about families being able to fill their gas tanks without emptying their bank accounts. but common sense is not complicated. it tells us that borders have to mean something. it means laws must be enforced. that children deserve innocence. and that prosperity comes from work, not a handout. here's what common sense tells us above all -- for the people who built texas, whether their families came five generations ago or five months ago understand texas better than any social engineer in washington never will. when i returned to the senate, i carry with me not just a victory, but a mandate. a mandate from the people of texas. let me be crystal clear about what that mandate means. first, we must secure the border. [applause] not with empty promises, but with concrete and steel and law and order, and with the unshakable resolve from knowing we are prot

higher oil production from the permian basin helped offset a drop in crude prices.ning. chevron indicated potential job cuts are to come with a new cost-cutting plan. $3 billion in cost savings will come from asset sales and the use of new technology and workflow changes. intel shares are surging premarket 5.5%. they gave a fourth-quarter revenue forecast about vestment -- above estimates. >> we laid out a strategy. we reaffirmed that with the board of directors. we have taken the steps this quarter and restructuring and getting cost where they need to be. we have the capacity to go on the journey. dani: in the prior quarter, intel cut jobs and suspended investor payoffs. elon musk staving off a challenge to his $1 million voter giveaway. a judge says the judges on -- the cases on hold when the federal court decides to take the case. it comes after the philadelphia district attorney sued, saying it violated consumer protection law. that is your brief. jonathan: more from dani in about 30 minutes. they are running out of time to deal with that. lisa: if they want to

the look at the lifting cost for the permian basin. if you look at the average -- ei every year the price dropped. the price dropped. why did we have deflation? it is because of innovation. and there are charts that show the lifting costs associated was dropping every year and we were setting the price for the world. ok, so giving we were driving down marginal costs -- this is kind of like econ 101 -- you were able to drive inflation down. i think when anyone hears from president trump about driving down inflation he talks about energy. because he achieved it during his time frame, and it was achieved because of the three points i just raised. energy innovation, good public policy, private sector capital. let me give you a few other data points. when we wanted to impose embargoes on venezuela and iran for other political purposes prices did not go up. where did the oil come from? it came from the united states and canada. when iran attacked the saudi facilities in 2019 with their drones the prices barely move. why? the market. the unit

if you go to the uintah basin in utah older leakier doesn't produce as much gas, but still 60 tons an hour is coming out of some of these orphaned wells. well, and then the permian, the granddaddy of all the big oil patch in texas and new mexico, almost 300 tons per hour that's 9 to 15 times higher than the limits that the industry agreed to. so the big question is now the theory was what the environmental defense fund was. if we could see the stuff countries, governments would do something about it. but the trump administration has been sort of openly scornful to all environmental regulations. it remains to be seen what kind of leverage this will these new pictures and this new data will will do towards pressuring any kind of regulation around these leaks yeah. >> so i guess it does remain an open question just how this satellite might help us fight climate change. >> yeah, it's sort of if a tree falls in the forest, does anybody hear it? if a satellite points out our super polluters and leaders don't want to hear that, does it make a difference it's so much. now. we have the technology to measure and stop these problems. the question is is the political will e