people can count on to be backing the petro then it's very likely that petro could actually help stabilize the currency situation invincible ala and that in turn could have a positive effect for the average venezuelan who's been being expropriated really liquidated by the hyperinflation that's been taking place in venezuela over the past several years but again are is there really going to be oil back in the petro could someone go to the government sad like to convert my petros for oil we shall see we just don't know the answer these questions at this point and the president is is backing really the currency because he's hoping to try to lot of his social housing programs if it would if it fails you know who's to blame him or will you just blame the currency to think well well we'll see i mean politicians have a tendency to in general all across the world try to blame blame others when things go wrong so i think you know venezuela i think you know deserves a little bit of credit here for thinking creatively about how to address their economic problems you know it's an interesting experimen

amy: colombian senator gustavo petro. he placed second in this year's presidential election in colombia. we will be back with him in bogota in a moment. ♪ [music break] amy: this is democracy now!, democracynow.org, the war and peace report. i'm amy goodman. as we returned to my interview with colombian senator gustavo in thishe placed second years presidential race in colombia, receiving 8 million votes, more than any left presidential candidate in colombia's history. the inauguration took place on tuesday when we spoke to gustavo petro. the inauguration of the new right-wing president ivan duque. your own aid annamaria cortez was also assassinated in the last weeks of the campaign. can you talk about her? do you think this s was a messae to you? >> not only was one of our activists assassinated, several of the activists were assassinated. and just one province, more than 30 of the administstrative regis of colombia, 72 activists from our movement have been assassinated. and my brother just received a death threat at his

based financial transactions and valving the petro with officials warning that the venezuelan crypto currency was a scam which is quite interesting because if you go to any read it board or twitter twitter everybody's talking about scams and pumps that pump and dump and. well this is an i c.e.o. to take the cake in terms of. i see those that are running into trouble this is like mates file calling mates all the all the top big you know them as well it's got a lot of oil but there are many refineries and this is packed oil they're trying to leverage their oil position through the machinations of a crypto currency you know my suggestion is you know maybe build a few refineries you know and sell higher end products and put that money back into the economy in this way may take ten or fifteen years but you're not going to be now taken over by some cia operative like we've read about in john perkins book confessions of a financial hit man. economic hit man and you know become just a vassal state of exxon it's called the resource curse they always this always happens when you know the u.s.

people can count on to be backing the petro then it's very likely the petro could actually help stabilize the currency situation in venezuela and that in turn could have a positive effect for the average venezuelan who's been being expropriated really liquidated by the hyperinflation that's been taking place in venezuela over the past couple of years but again are is there really going to be a while back in the petro could someone go to the governments have like to convert my petros horwill we shall see we just don't know the answer to these questions at this point if the currency is designed to help venza will a skirt sanctions and has privacy built into it in anonymity and then you that could cut both ways it may also undermine the venezuelan government's ability to collect taxes in crackdown on illicit track trade so it wouldn't surprise me if it has a little less privacy than many cryptic currencies like the coin a magnitude seven point two earthquake has struck the indonesian island of lombok the u.s. geological survey says it was a very shallow depth and just hours earlier another s

people can count on to be backing the petro then it's very likely that petro could actually help stabilize. the situation in venezuela and that in turn could have a positive effect for the average venezuelan who's been being expropriated really liquidated by the hyperinflation that's been taking place in venezuela over the past seven years but again is there really going to be oil backing. could someone go to the government to have like my petros for oil we shall see we just don't know the answer the question if the currency is designed to help fins a whale a skirt sanctions and has privacy built into it in anonymity then that could have both ways it may also undermine the bins the wailing government's ability to collect taxes and crack down on the list of track trade so it wouldn't surprise me if it has a little less privacy than many currencies like the coin. well still ahead here on al-jazeera thousands of syrians crossed the border from turkey into the rebel held italy province to celebrate. and heroes of haiti how statues are teaching history to younger generations their stories of th

a crypto currency that's been banned by the united states the petro is valued at around sixty dollars roughly equivalent to a barrel of oil but some digital currency experts like robert don't appear skeptical. of that just like every other crypto currency depends on people's confidence in it if people don't trust their currency it's not much used to them because nobody will accept it. one reason that dash has taken off in venezuela is that it enables transactions to be completed quickly with inflation rising at an extraordinary rate an increasing number of companies in the country have embraced the digital currency but economists are warning that cryptocurrency is won't put the brakes on hyper inflation and say they offer no more than a practical payment option and they're answering it more look at what we have what they know these days chrystia currencies are widespread and it's a good thing if there's a government body specialized in them that the public authorities need to work with society to stop the rules and guidelines that will benefit the economy i mean we need to take a proa

also on the program german chancellor angela merkel in spain for talks with a spanish counterpart petro sanchez migration flows have to top the agenda as a growing number of migrants arrived on spanish shores. hello and welcome my name's christopher spring eight thanks for joining us it's been a tense twenty four hours in romania with hundreds injured in clashes between police and anti-government protesters tens of thousands have been rallying in the capital bucharest and also in other cities across the country to demand the government's resignation they blame the ruling social democrats for endemic corruption and low wages the protests were organized by groups of romanians who work abroad they say their country's corruption and poor financial prospects effectively forced them to emigrate. a night of violence in the romanian capital. leaving hundreds injured. bucharest police fired water cannon and tear gas at protesters after some tried to force their way through to government buildings. it had started as a peaceful day of demonstrations the crowd swelled by thousands of remaining ex-p

and it's very likely the petro could actually help stabilize the currency situation in venezuela and that in turn could have a positive effect for the average venezuelan who's been being expropriated really liquidated by the hyperinflation that's been taking place in venezuela over the past two years but again are is there really going to be loyal back in the petro could someone go to the government's hand like to convert my petros horwill we shall see we just don't know the answer to these questions at this point if the currency is designed to help venza will a skirt sanctions and has privacy built into it in anonymity then that could cut both ways it may also undermine the venezuelan government's ability to apply taxes in crackdown on it was tracked trade so it wouldn't surprise me if it has a little less privacy than many cryptic currencies like the coin. plenty more ahead on the al-jazeera news hour including why a slide in the turkish lira has been a blessing for. a shadow over annual utah the grayson's in the. hands of sergio agüero and manchester city are in red hot form the e

based financial transactions and valving the petro with officials warning that the venezuelan crypto currency was a scam which is quite interesting because if you go to any read it board or twitter twitter everybody's talking about scams and pumps that pump and dump and poop oil well this is an i c o two take the cake in terms of those that are running into trouble this is like mates file calling mates all the all the top big you know them as well as got a lot of oil but there are many refineries and this is peg to oil it on they're trying to leverage their oil position through the machinations of a crypto currency you know my suggestion is you know maybe build a few refineries you know and sell higher end products and put that money back into the economy in this way may take ten or fifteen years but you're not going to be now taken over by some cia operative like we've read about in john perkins book confessions of a financial hit man. you nomic him economic hit men and you know become just a vassal state of exxon it's called the resource curse they always this always happens when y

petro chem giant lyondellbasell. here is how it works.or gas and makes ethylene, which is converted to polyethylene, and turned into plastic for things like garbage bags, or grocery bags, or fancy saran wrap. its plants in america use natural gas, and europe and asia use oil and naphtha. and it has been a tough road. lyondell chemical was formed back in the 1980's and merged with basell in 2007, and was weighed down with a ton of debt. in 2009, it filed for chapter 11 bankruptcy and merged a year later to go public. and now that lyondell is back on its feet, and using super cheap u.s. gas, making a big cost advantage, it is all about growth. they recently bought a. schulman for $2.25 billion, which makes fancy materials for plastics like bottle caps, but it doesn't want to be a one trick pony kind of company. it wants to be big. so, where does it go next? i recently caught up with bob patel and asked him what kind of leverage he would be comfortable with? bob: leverage ratios depend on your earnings at the time, and also, what you plan to

a crypto currency that's been banned by the united states the petro is valued at around sixty dollars roughly equivalent to a barrel of oil but some digital currency experts like robert appear skeptical. just like every other crypto currency depends on people's confidence and it if people don't trust their currency it's not much use to them because nobody will accept it. one reason that dash has taken off in venezuela is that it enables transactions to be completed quickly with inflation rising at an extraordinary rate an increasing number of companies in the country have embraced the digital currency but economists are warning that crypto currencies won't put the brakes on hyper inflation and say they offer no more than a practical payment option and they're answering him on the can we have nothing no these days because to currencies are widespread and it's a good thing if there's a government body specialized in them then the public authorities need to work with society to stop this law its rules and guidelines that will benefit the economy i mean that we have to take a proactive ap

it will be tied to the petro, a cryptocurrency that has been banned by the united states. it is valued at around $60, roughly equivalent to a barrel of oil. but sosome digital currency exexperts appepear skepticic. >> the petro, lilike every other critter currency, depends on people's confiden i in it. if people dodo not trust the currency, it is not much u u, because bodydy will accecept it. oscar:r: one reason that dash hs taken off in venezuela is that it enables transactions to be completed quickly. with inflatition rising at a an extraordinaryy rate, an increasing number of companies in the country have embmbraced e digital currency. but economists are warnining tht crcryptocurrencies will not put the brakeke on hyperinfnflation. they say they y offer no more tn a practicacal payment option. >> t these days, cryptocurrencis are widespreadad, and it is a gd thing it t there is a government body spepecialized i in them. public a authoritieses need to k with society t to establishh guidelelines that will benefit e economy. we need toto take a proactive roach h to cryptoc

over two hundred and seven dollars it's the second company worldwide to hit the trillion dollar mark petro china did very briefly in eleven years ago on the shanghai six change market analysts expect amazon and alphabets the company that owns google to be next. jim on to since the c.e.o. of social flow it advises social media and technology companies and he says these results reflect the loyalty of aapl users and the strength of the tech market. tech sector it surely has been performing phenomenally the growth in these tech companies had a few bumps lately with earnings releases the past couple of weeks but still you're talking about companies that are worth more than half a trillion dollars and now for apple to get to this one trillion dollar mark is certainly it's the best of the best all of these tech companies are being rewarded for stellar growth and sometimes they're punished when we saw what happened to facebook you know facebook had a record earnings a couple of weeks ago when it was punished pretty badly because the growth was not quite what was expected you look at apple's number

there have been, these states have been petro states, both russia, russia's not a petro state that the gulf countries have been there. why was it comply with russia successful in tapping into the market come in building these relations? i think there is a regional reason for this and also macro economic processes that happen simultaneously at the same time. first of all, the chaos that was created after the vacuum that was created after the arab spring and united states didn't interfere in the region that much, following the new conflicts in the region have greater of vacuum and russia felt the right time to interfere and to become a player in the region. but the more important process happen and there are two processes actually. the first was the oil prices plummeted in 2015, but what's interesting, it happened at the same time with yes, and the west applied sanctions to russia. so as russia is constantly in a state of paranoia, being encroached, a were saying, they were hinting that the united states was behind the price plummeting, directly by intelligence offices. so they understoo

lyondellbasell's ceo bob patel outlines expansion plans for one of the largest petro-chem giants in the world. alix: i'm alix steel, and welcome to "bloomberg commodities edge." it's 30 minutes focused on the companies, the physical assets, and the trading behind the hottest commodities with the smartest voices in the business. all right, let's kick it off with "spot on." it's our analyst's take on our big story. joining me now is tamar essner, nasdaq's lead energy analyst, in our spotlight on oil earnings. good to see you, tamar. thanks for being here. tamar: thanks for having me back. alix: the big theme with enp independence in the u.s., production guidance goes nowhere. capex goes much, much higher. what was your big takeaway so far? tamar: companies are spending more and producing less. and so basically, this is a fundamental seachange in terms of what investors are looking for in the enp space. so, the traditional model was predicated on this idea of resource scarcity, oil prices are going to rise indefinitely. so, as an investor, we are fine with underwriting, outspending cash fl

the sanctions and of course a new development since march twenty eighth in the introduction of the petro yuan which has virtually none if i had the infective ness of american sanctions and allowed a terror that you've route via which iran will be bid for its or in for instance any oil it sells to china it will receive money in petro yuan and oh it sells to the. it will be paid or you will furthermore there are barter agreements between turkey india russia and iran so they can bypass the american sanctions america hopes that iran will be isolated by the sanctions that they are going to impose do you think the opposite might happen it could end up the us being the isolated party here given what you've just said. i tell you one thing the united to steer things it leaves on a different planet from the other nations of the world for instance they are imposing that ifs intrusive that is that if against and still they have the temerity to go and ask china not to imported oil how what kind of logic is that if this américa hold. up. ok look fascinating talking to we're going to have to leave it t

sanctions against the petro. but the real answer is the amount of money to goldman sachs' of last investing for the people who don't that's the way to go that's all was where was are taking the money out and threw it at it and in fact there's nothing that is without the fled the. neighboring countries and bad news for what it is there were no quid pro or. are jammed we there's ways we clean are fleeing their country because of lack of food lack of medicine or war currency they have no faith paul i just want to take a step back for a moment to sort of remind our viewers how venezuela got to the point that it's out i mean venezuela boasts enormous oil riches and crude production but it's been in steady decline economically over the past decade how did it get to this point look at the question a complicated ounce and i am in a time that we have available a conk a fairly and that it causes of the economic collapse at the moment but i think we're in it as briefly as you can if you could. the main point is that and i t

wages prices and the ball of our exchange rate all pegged to the states all backed cryptocurrency the petro economists and business from main skeptical. trolling to hyperinflation the impact of these increments will be totally counterproductive. president nicolas maduro had the presence of mind to make issue day monday a national holiday giving banks and citizens a chance to get used to the new system. some people don't know how to deal with the new money. in the end there's no difference. i think it's easy. i can't understand it all completely. but i'll get used to it with time. but thousands of venezuelans don't have that much patience they are putting the country and its problems behind them and leaving. the whole of northern europe has been in the grip of an unprecedented and extended drought many farms are threatened with bankruptcy. even north of the arctic circle temperatures rose above thirty degrees at times. scandinavian farmers are expecting the worst harvest in a quarter of a century the governments of latvia and lithuania have both declared a state of emergency. in poland and t

sanctions against the petro. but the real answer is the amount of money to goldman sachs' of last investing for the people who don't own that's the way to go that's all where was are taking the money out and threw it at it and in fact there's nothing that is without the flag and. neighboring countries and bad news for what it is there were no quick war. are jammed we there's ways we clean are fleeing their country because of lack of food lack of medicine or war currency they have no faith paul i just want to take a step back for a moment to sort of remind our viewers how venezuela got to the point that it's out i mean venezuela boasts enormous oil riches and crude production but it's been in steady decline economically over the past decade how did it get to this point look at the question a complicated ounce and i am in a time that we have available a conk a fairly and that it causes of the economic collapse at the moment but i think in a way and as briefly as you can if you could. the main point is that and i th

frustrated in her resignation letter she said that the head of the queue of tax office as well as president petro poroshenko and prime minister volodymyr grossman had sabotaged her on to corruption drive so corruption still flourishes on the black sea there's a door to newspaper report estimates the losses to the ukrainian treasury top four billion euros a year in tariffs alone that's twice as much as ukraine hopes to borrow this year from the world bank i.m.f. and e.u. combined. journalist david stern joins us from kiev david just how hard a job is a proving to corruption in ukraine well it's a huge problem of course anecdotally anecdotally i've heard of the last two years the problem is actually gotten worse there seems to be corruption throughout the society and as you heard from that report now of course corruption is a problem throughout the entire former soviet union so it's really a post soviet problem but as we heard from the report ukraine had a revolution four years ago and so expectations here are much higher there is the expectation that after the revolution this would be problem numb

frustrated in her resignation letter she said that the head of the queue of tax office as well as president petro poroshenko and prime minister volodymyr grossman had sabotaged her anticorruption drive so corruption still flourishes on the black sea as it darts a newspaper report estimates the losses to the ukrainian treasury topped four billion euros a year in tariffs alone that's twice as much as ukraine hopes to borrow this year from the world bank i.m.f. and e.u. combined. facebook has set its sights on a new set of data the wall street journal reports that the social network asked several large u.s. banks to shed detail financial information about their cost less request is likely to get part of its efforts to deep end user engagement and off a new services information request that is supposed to have included transactions and account balances. lost in business missy. on freedom and hope. where i come from the region is rich in history and style and talents but so poor in education opportunity and freedom this makes it specially difficult for independent journalists i see many of the younger

german chancellor angela merkel is in spain today for informal talks with spain's prime minister petro as with migration likely to dominate the agenda the two leaders meeting at sanchez's holiday residence in the south of the country and recent spying has become the preferred route for migrants trying to reach europe. italy tightened restrictions on the arrival of refugees. the talks come two days after madrid agreed to take back any migrants who reach germany despite being registered in spain. we're going to get more on this now from our chief political editor mckayla cousteau mckayla give us some context first of all you know about this migration deal between germany and spain why is it so important for chancellor merkel well it's important for her because it's symbolic and it's also much more important to or a minister who so almost pushed her to the eggs just a couple of weeks back threatening to leave this union of the c.d.u. c.s.u. and potentially bring down have government he didn't in the end because he's been given more leeway now to negotiate by last fall deals which would be

million people entered germany in spain she agreed to a new approach on migration with prime minister petro sanchez the two leaders were holding informal talks amid growing migrant numbers there. as spanish prime minister pedro sanchez welcome to the german counterpart to southern spain for informal talks a new deal took a fact spain will take back migrants already registered that reach germany. although the number of such cases is low it's an important agreement for america. this is. why it's a commitment to help another country is struggling with an issue. just as germany is committed to helping spain for example with morocco. almost every day migrants arrive on spanish shores from morocco close to twenty four thousand have arrived this year migrants are now entering spain than italy. sanchez called for a common response from the e.u. . the solidarity of the whole european union in dealing with the challenge of migration. the spanish and german leaders will present that common vision on migration at an e.u. summit next month in romania thousands of protesters are on the streets in many pa

el gobernante nicolÁs maduro sorprendiÓ el paÍs con un paquete de medidas econÓmicas basadas en el petro mÍnimo de casi 6000%. ni hablar de devaluaciÓn de la moneda que pasÓ de 250,000 a 6 millones de bolÍvares por dÓlar. >> es exigir una rectificaciÓn. no hay ningÚn anuncio serio, creÍble... reportero: en la calle se refiere se temor que se refleja en compras nerviosas a los mercados, que ya ha golpeado el bolsillo antolÓgico pudiera ser una escalada de presos sin precedentes. >> medidas drÁsticas que lo que hacen es destruir el pueblo y destruir a la gente. >> conoce anuncio, es una bomba atÓmica. reportero: analistas esperan una inflaciÓn y despidos masivos en las empresas del sector privado. >> cuando hablan de aumento salarial, la gente me alegrarse tiembla. reportero: el rÉgimen aspira con el plan estabilizar la economÍa en dos aÑos y lograr una Única tasa de cambio y eliminar el dÉficit fiscal. los prÓximos dÍas serÁn de alta tensiÓn polÍtica y social con unas medidas econÓmicas que lucen confusas para la mayorÍa y que generan mÁs temor a un caos que confianza. para una recuperaci

saturday the london club with that it has the field on saturday cole's home ingo can say what he knew and petro rodriguez and showed a comfortable of three mil when to start the study area in fine style we have not physical team and i think it is the best of the game it is the capacity of for full fifteen minutes in the first half then i think in the second of the opponents are worth to be diverted he was easier. earlier in the day tottenham defeated newcastle two one spurs scored first three on vertonghen before his fellow equalize for the home team tottenham went in front again for delhi alley and held on for the when. and you guys sure want to differentiate big quality was really if you look for us i thin them with all the citizens. massive if or if you're so proud of in the world. we're so so important for us and. if you put all this it was dancing in i would be a massive massive great for the b. two because. it was a b. c. . you know it is there are these are oh. we'd play games are very pretty you could see the particularly hard of the same time you could see our team is pretty good. work

sanctions against the petro. but the real answer is the amount of money to goldman sachs' of last investing for the people who don't like the way it is go. was where it was are taking their money out and threw it at me and in fact did nothing that is where i was have fled the. neighboring countries and bad news for what it is there were no quibble or. are jammed with it is where we clean their fleeing their country because of lack of food lack of medicine or war currency they have no faith paul i just want to take a step back for a moment to sort of remind our viewers how venezuela got to the point that it's at i mean venezuela boasts enormous oil riches and crude production but it's been in steady decline economically over the past decade how did it get to this point look at the question a complicated ounce and i am in a time that we have available a fairly and that it causes of the economic collapse at the moment but i think we're in it as briefly as you can if you could. the main point is that and i think the

lyondellbasell's ceo bob patel outlines expansion plans for one of the largest petro-chem giants in the♪ alix: i'm alix steel, and welcome to "bloomberg commodities edge." it's 30 minutes focused on the companies, the physical assets, and the trading behind the hottest commodities with the smartest voices in the business. all right, let's kick it off with "spot on."

can dodge the challenge migration poses she made those comments while meeting spain's prime minister petro sanches as a migrant exchange deal between the two countries comes into effect sania gago has the details. the city in southern spain may be an absolute cation to european leaders to partner up over a divisive issue migration agreement the german chancellor hopes will help quell the argument over the refugee crisis with the help of fellow member european union countries. just a few kilometers from the african coast similar to multiple sicily so this is a challenge we must cope with together and no country can dodge this time. the aim to stop refugees and migrants using the border free schengen zone to travel to germany a country that has taken in already more than a million asylum seekers since two thousand and fifteen those who are already registered in spain will be refused entry at the german border and deported within forty eight hours. we want the solidarity of the e.u. and its members with this migration challenge that we are facing in our country but you also accept our respons

lyondellbasell's ceo bob patel outlines expansion plans for one of the largest petro-chem giants in the. ♪ alix: i'm alix steel, and welcome to "bloomberg commodities edge." it's 30 minutes focused on the companies, the physical assets,