oil in the americas and the concern was petro ecuador would turn petro china into a competitor and petro china would sell crude in the same places as ecuador. until the refining capacity is on line we will continue to see the chinese oil companies as major sellers of oil. >> here's an example of the refinery -- if it is built, it would seem to be one example where politics supersedes economics. >> the other issue. one question -- i don't know the answer but any volume of oil will be economic. i don't know what that is -- the other thing to keep in mind is what is going on domestically in china in the issue of competition for market share in china. the domestic rival is dominant and eager to increase its market share. building this refinery is the one way to do that. the domestic competition for market share is also coloring what is happening in this particular case and covers other things companies do overseas as well. that is another part of the refinery story. >> i think we have got time for another -- we will go here to the lady here and then this one right behind her. that might do i

and the last one, said, what are you looking at and punched him in the face and put down a petro can and said they wouldn't burn it down. but then there was a huge explosion. the heat was unbelievable. from the edge of the road where i was made to stop. and then the fire engine turned up. i am not sure what happened to all the people that were in the hotel. my son and he's manager and evaciated them away from the fire, and i don't know if there is enough transport to get there. i would have been happy to collect as many as i could, but for safety reasons the police wouldn't allow me. >> is your son with you now? >> yes. >> is it possible to speak to him, is he able to talk to us? >> yes, thank you very much. >> thank you, eve, and her son works in the hotel just next to the distribution center. hello, i didn't catch your names but welcome to bbc news. >> tommy. >> tell us what you have seen. >> i came from work where we heard a smash on the sony center. and had a look to investigate, and i saw the door smashed in and a group of 20 lads came out with wiis and consoles and stuff like t

petro got engaged. swimming in proposals. >> well, good for fat fannie petro. >> eugenia, your eggs are dying. would it kill you to go on a date? just show a little gumption. >> careful now. careful. >> oh, now. look at this. this dress is just precious on you. just take it in a little here. a little there. get your hair fixed. >> i got a job today. >> where? >> writing for the jackson journal. >> great. you can write my obituary. charlotte phelan, dead. her daughter, still single. [ laughter ] [ cheers and applause ] >> jimmy: yeah. there you go. you're awesome. more with emma stone when we get back, you guys. [ cheers and applause ] ♪ my contacts are so annoying. they're itchy, dry and uncomfortable. i can't wait to take 'em out, throw 'em away and never see them again. [ male announcer ] know the feeling? get the contacts you've got to see to believe. acuvue® oasys brand contact lenses with hydraclear® plus technology, keeping your eyes exceptionally comfortable all day long. it feels like it disappe

arrival you can also see how we are at the peak system that we have at the moment because we have a petro dollar basically dollar backed by oil but they're in a death grip saudi arabia can do with less than eighty five dollars because of the disaster of the us based debt system which is now which is clearly not been fixed so but because of that the us can't ever grow out of those debts the western world because oil cannot go below eighty five dollars and you also will never have the demand for a credit to keep the credit ponzi scheme going like it has been because of the felde europe to find new significant oil discoveries that would require a massive draw on credit so this is peak credit working along with peak oil and peak everything else. peak globalization peak financialization so things are falling apart and they're falling apart in different countries in different ways you know speaking of resources i want to go to this headline for an interesting quote in this story is jeremy grantham the world's most powerful environmentalist so jeremy grantham is the head of asset management for

exception honda shadow around three percent and this is stocks were the worst in how we call it with petro china down around the world her sights were certainly got over. prices they continued to fall after an almost six percent decline on thursday concerns about global economic recovery are weighing on costs the ricoh dollar is given some supports the w. cia is at around eighty dollars per barrel while bryant has fallen to one hundred and six dollars a barrel and the quick look at precious metals gold is setting out a new record high level as uncertainty about the global economy is pushing investors back to safe haven it's this small prizes out above one thousand eight hundred sixty dollars per ounce and silver is also all over it simply said this hour oh well fears over dreaded double dip are once again rising in the markets the us of us of all that from deutsche bank says russia is in a better position so his son the recession than it was in two thousand and eight. the comparison in favor of today is with regard to corporate balance sheets and the micro level of individual enterprises i

professor of politics at the university of oxford and indeed we know the world we go to make like petro he's professor of politics at the university of rhode island all right gentlemen this is cross talk that means you can jump in anytime you want but first let's have a look at the failed coup of one thousand nine hundred one. on august nineteenth one thousand nine hundred one instead of tuning in to the soviet national anthem citizens across the u.s.s.r. woke up to a radio announcement that would start a sequence of events leading to the eventual collapse of the soviet union issued by the self-proclaimed hard line state of emergency committee in auslan stated that mikhail gorbachev's efforts to reform the soviet union have gone into a blind alley and also declared a six month state of emergency in various regions of the country by that time gorbachev had already been removed and detained in his militia in the crimea with motivated the plotters to overthrow the existing order was the new union treaty designs decentralized political power within the u.s.s.r. and indirectly weaken the pos

around three percent this hour meanwhile energy stocks are the ones being hit hardest in hong kong with petro china down around four percent it's here in moscow the arts yes has opened and it's trading in negative territory extended there is there's also this setting more than two percent this hour my sex will open shortly both markets nosedive yesterday with energy and financial stocks suffering the biggest losses let's take a look at oil prices they continue to fall after an almost six percent decline on thursday concerns about global economic recovery are still bueno include bought the weaker dollar is given some supports the w c i is that around eighty dollars per barrel while blind as trading at one hundred and six dollars and a quick look at precious metals gold is trading at a new record high level as uncertainty about the global economy is pushing investors back to save havens this fall the prices now at above one thousand eight hundred and forty dollars per ounce and silver is also off its trading just below forty one dollars per ounce. while global indexes consume your marchin and s

shadow around three percent meanwhile energy stocks were with their worst heads in hong kong with petro china down around four percent so let's take a look at oil prices and we see there that they are consuming units of fall after an almost six percent decline on thursday concerns about global economic recovery are weighing on crude the weaker dollar is given some supports blights when it's below eighty dollars per barrel of all brands has fallen to one hundred six dollars a barrel and a quick look now at some precious metals gold this fretting out a new record high level as uncertainty about the global economy is pushing investors back to safe havens this small price is now at above one thousand eight hundred and sixty actually a potion eight hundred seventy and silver is also off its game in almost four and a half percent this hour. and that's how business looks for stories you can always that's how websites are it's you know it's called slash business in the meantime statesman for the headlines with advice and career that will bring you the next update in about fifteen minutes by for

around three percent that's our new energy stocks are the ones really hit the hardest in hong kong with petro china down around four percent. here in moscow markets will start the trading day in around one hour they nosedived out there is that the arts yes close in almost five percent in the red energy and financial stocks where the worst wants to suffer the biggest losses during the day let's take a look at oil prices they keep falling after an almost six percent decline on thursday concerns about global economic recovery are going on crude however that we could dollar it's given some supports the w t i a is that around eighty one dollars per barrel this friday had one hundred and six dollars per barrel this hour a quick look at the precious metals now gold this trading at a new record high level uncertainty about the global economy as pushed investors back to safe havens the sport price is now at above one thousand eight hundred forty dollars per ounce and silver is also off its trading slightly below forty five on dollars per ounce. and while global indexes continue marching into the recor

united states top tier credit rating was dropped one notch by standard and poor's but economist michael petro says the agency's decision is actually saving america from a worse crisis. it is intractable america is the coming inside and the secret is getting out and once the chinese fully understand it and watch the japanese and the europeans and what foreign creditors all the sense the idea that we can take our debt without inflation and monetizing and charging it will be. sure to be a function which will say interest rates to the moon or leases in high single digits and then it will be clear as day that the us is inside and that's where the s. and p. stand for us is trying to who think they should be you thinking you. were there to be in the mainstream media but now her tables are turning on standard and poor's it's not only being widely slammed first decision but now also faces a legal inquiry financial analyst culloden interest says it's necessary because the downgrade it may have been wrongfully leaked to traders. was clearly an element. to investigating insider trading there was an awful

the black books and finished over a percent higher led by gains of world feel services from from the petro fact after a strong first half update well rising silver and gold prices helped lived there's no oil but the debts and the. moderate gains lose in point one percent. here in russia markets and then in the black but not too high in reality has gained a quarter of a percent while the my xox finished nearly point four percent now here's a look at some individual cheval some isaacs most energy majors bounce back colonial also those were false we have up to a point one percent of mining stocks were also on the rise the bt be up one point seven percent and probably metals among the main gainers adding nearly six percent on strong and gold prices. that's a business up at this hour by do join me in about forty five minutes from now so long here. twenty years ago in the largest country. disintegration of. what had been. each began a journey. where did it take. for the full story we've got it from. the biggest issues get a human voice face to face with the news makers. breaking news this hour r

percent this hour and meanwhile energy stocks are the ones being hit hard that's the hong kong with petro china down around the world for sides let's move over to europe the markets there are tracking losses in asia and were seen as sell off b.h.p. billiton is the climb in two point three percent this hour and that's after a group of investments a coal mine in colombia and here in moscow is natalia said the markets are trading in negative territory x. then the there's there's also this the arts yes is now down over three percent all the my sense is head in that direction let's take a snapshot of the market movers on the my psych's energy majors are among the worst performers with jasper all down over three percent banking stocks are also on the pressure with those burbank n.v. to be losing almost five percent this hour and oil prices continue falling after an almost six percent decline on thursday concerns about global economic recovery are weighing on crude thoughts the weak a dollar is given some support the w. is at around seventy nine dollars per barrel while bryant has fallen to one

three percent this hour meanwhile energy stocks are the ones being hit the hardest in hong kong with petro china down around four percent that's why it's a euro the markets there are. are tracking losses in angel and we're seeing a sell off shortly after the opening. bid of its own as the clients who point three percent this hour after a proven investment to expound at home i'm in colombia and here in moscow the markets have opened and they are trading in negative territory extending thursday's losses artsy as is losing over one and a half percent of all my sex is down more than one percent and here's a quick snapshot of the market movers on the my sex energy majors are among the worst performers with gas from down more than one percent new all banking stocks are also on the pressure with both burbank ending its abusing around two percent. and that's all the business news for now for more stores you can always check out our websites our two dot com slash business headlines of acts of tests and. well to british soil it's time to. market. find out what's really happening to the global econom

the black athletes and finished over a percent higher led by gains world feel services from from the petro fact after a strong first couple of days the rising silver and gold prices helped lift is no out of the debts and the lord. moderate gains losing the point one percent. here in russia markets and then in the black but not so high the odds he has gained a quarter of a percent while the eyes it's finished and nearly point four percent here's a look at something of a total shambles organize it snows an inch of majors bounce back around a loss was worth also have a couple of points one for subs mining stocks were also on the rise the bt be up gun point seven percent and point metals among the main gainers adding nearly six percent on strong gold costs. that's a business that got us out by to join me in about forty five minutes nelson or right out. twenty years ago in the largest country in the same situation. which had been. begun the german.

point seven six percent if that's the latest getting through at the moment it's bring in the market petro pollen i was in london after the markets marco from financial wealth management. a volatile day on the market but no real freefall exactly what you think tomorrow is going to bring more turbulence more trouble. well you say no no freefall but i've been investing clients' money for over thirteen years and it is quite rare to have a period like we've had over the last week it has been a a severe battering. now when everybody is on one side of the trade you tend to get sharp fall back so things may carry on going south for the next couple of days but then there's likely to be. a bit of a pullback but over over the next sort of six twelve eighteen months my view is still bearish with we're short and we've been short for a long time on on equities and there's a lot of issues that need to be sorted out and i can't see how they're going to be sorted out in the near term and it's very difficult to see where the growth is going to come from moving forward so in the absence of of actually any p

he's converting his petro dollars in to humanitarian help. >> it started as soon as the freedom movemented on the 15th. we knew we had to do something or the situation wagituation woe and worse. we established the ngo to assist in various things, medical, et cetera. we started immediately. the first shipment we had into libya was on the 22nd of february. >> reporter: after seeing the first images of rebellion in eastern libya six months ago go, he set up the nonprofit organization providing aid and relief on to displaced libyans. so far he says he's spent $15 million of his own personal wealth delivering food and water and around 100 tons of medicine and medical supplies. but getting the aid to the people who need it most is not without its challenges. >> i think one of the biggest issues we have is not just the supplies. either e it's the funds, as well. a lot of people are helping. some might get delayed. but i think what you have is a spirit of supplies and then it goes down and then you have -- it it's not consistent, not properly hamanaged. it needs more communication and interactio

>> well, morris strong what ran the company that took over the baca was the head of petro canada years ago, and he has lots of champions, people who thought he was quite a well-known guy. represent -- reputable guy. he drilled out the baca for oil and gas. they knew what they were getting after, and all the suburbs of denver were growing, and they bought it up and use ag lot of canadian money and were going to -- they had several plans for diverting the water to the front range or into the other texas markets or the new mexico markets. >> long story short, there was a big controversy. the farmers in the valley didn't want the water sucked away. mo strong said he was just trying to do a good thing. he didn't want to hurt anybody. i think the state finally denied him permits to do this, and he threw in the towel, but one of the main antagonists, a rancher from the valley named gary boyce, who had been taunting him decided this was a good time for him to step in and try to do a similar deal. [laughter] don't you love water? it brings out the best in people, and he caused another controver

>> i would say $10 a gallon to buy petro, to buy gasoline in the u.k. that's very much the reason everybody is buying -- >> i thought it was the standards? >> no. of course it's not. the fact you want to get somewhere at a cheaper price. therefore, what are the hance c getting riz of subsidies and moving forward with this? he's speeshless. >> i'm sorry. i think i missed the question. >> listen, we'll wrap it up, ben. thank you very much. expert from the clean vehicles program at the union of concerned scientists. >> thanks for having me o. thank you, brendan, and thank you to the panel. >>> this doesn't make sense to me how you can leave the military and environment subsidizing oil and have -- >> he worked for the auto industry, they've gotten behind him. the ethanol industry. i don't know the details. there are ways to -- >> raise standards, let's all now commit to getting ends for, subs skies for oil companies and commit to getting out of wars and to not oversubsidizing highways and put it in public transport. >> we agree on that. >> yes we agree. >>