so to summarize, that includes the eastern gas shales project, a series of public/private shale drilling demonstration projects that were undertaken in the 1970s, by the energy research and development agency, and the bureau of mines. the collaboration with the gas research institute which is an interesting model of industry research consortium that received partial funding and r & d oversight from the federal energy regulatory committee and to the discussion earlier of senator murkowski's questions about funding, it was funded by a user surtax on gas transmission fees so we set aside a little bit of that funds in the way that mr. augustine mentioned to drive further innovation in that sector. i think it's an intriguing model here. early shale fracturing and directional drilling technologies were also developed and later the department of energy, the bureau of mines and the morgantown energy research center in west virginia, now the national energy technology lab, to senator bingaman's home state, the national laboratories played a key role in developing imaging technology originally to

>> good news about the monterey shale, there's no other shale in the united states that matches it. it is young. deposited 10 million years ago versus 300 million years ago for other shale. that makes it a little better candidate, less brittle. they may not have to frack as big and hard as others. california is a different state to operate oil and gas wells in, a difficult -- you will have to get in front of community relations. what we're doing in other states, even in texas, we are setting down local constituents and meetings and efforts in states to let folks know what we are doing, why we feel it is safe, showing them that data, what documentary film makers do to say fracking is bad. we need to get out ahead of the curve, show folks how things are going to work. knowledge is power with people. they want to understand. if they don't understand, they're afraid. that's why the industry is in the situation it is in because people are scared not knowing what we're doing. >> is it too late already? seems like people are freaked out about fracking and document trees have come out. >> i

but this is shale under a microscope. the dark spaces are where the gas is, and it's everywhere. >> here's a great one. for example... >> that's what's going on in the middle of this thing? >> yes. >> the breakthrough in extraction happened when two existing technologies were combined. the first involved accessing the shale by drilling sideways underground. >> we're currently over two miles down. >> two miles down? >> two miles down. >> okay. >> now, later today, we'll turn the bit from vertical to horizontal along this path, and then we'll drill in our target zone for a mile down to the south. >> the other technology is hydraulic fracturing, or fracking, where millions of gallons of water mixed with sand and chemicals are pumped down the well at enormous pressure. >> we break the rock. we fracture the rock, and that stimulates the ability of the gas to flow into the well bore, where we can flow it to the surface and sell it. >> in light of the b.p. oil spill in the gulf, i asked aubrey mcclendon about the safety of frack

shale gas to really buy us the time to pursue some of these really promising clean energy opportunities did otherwise we did not have time to pursue them, given our dependency on oil, and there was not much we could do about it. it was not long ago that we were number one in central thermal systems and wind power. today we have lost our lead. i was recently in japan and i was struck by how much we have lost our lead. >> thanks again for your leadership. great to see you. >> senator franken. >> thank you, mr. augustine. we seem to have a debate over the very nature of the role of government in development and new technologies. again, i appreciate the ranking member being here, but i don't see any of my colleagues from the other side. we have these hearings a lot, and either they don't show up at all, or they come in and make a statement and leave and do not even want answers to their statement. your report points to government support for development of all kinds of technologies that have le

we're not dealing with shale gas. that's why again i think it's valuable that these decisions are made on state levels. when you have a one size fit all regulation, i visited with consultants and some of the proposed rules to make absolutely no sense at all, there's not time for that here today. the states best handle these kind of policies. >> thank you. >> i thank the chair and welcome to our panel. >> i had to be at a funeral this morning after a close friend and i did not hear your testimony and i had it described to me. but if i understand correctly your testimony in essence says based on your experience in pennsylvania, you believe the other 49 states can also live with pure state regulation we don't need federal regulation in this particular enterprise, is that an accurate characterization of your testimony? >> i'm sorry. that's probably based on my experience in pennsylvania, pennsylvania is very well to regulate fracking. based on my experience with the environmental council of the states, my experience with

i think again we can look at the history of shale gas as a key example. we're not the only country in the world with large shale gas resources. china has even larger amounts of shale gas than we do. south africa, many countries in europe. but it was the united states that developed cost effective shale extraction technologies first and that wasn't because we were the only country with the oil and gas sector, either. it was because of the government partnership with that dynamic oil and gas sector that was able to develop those technologies. now the united states enjoys a massive new source of domestic energy, we have created tens of thousands of jobs in that sector, but if you go back and look, even in 2005 or 2006, not long ago, that sector was a tiny contributor to our national energy system and those technologies were still cost ineffective. so you cross that tipping point and all of a sudden, you have a revolution in our american energy markets and we're exporting those technologies abroad, that expertise to china, now south africa and other countries

we have this new shale gas. it's here. we don't need to import it. it's technically -- it works. you have buses that run on gas. trucks can run on gas. what's the problem? people say there's not enough distribution. you can build gas pumps, not serve gasoline but serving gas. you can work on hydrogen fuel cells. what about the whole advance of technology which is there and works? >> i did talk a lot about gas. i talked about hydrofracking for the gas reserves of north america. the marcellis formation, and the problem is it's going to destroy the northeast to get at it. so shale gas is trapped in rock. so, yes, there is a lot of it. no question there's a lot of it. although much less than they're saying. the most recent report from the energy information administration is, they've lowered by 60% their estimates of north american shale gas. just so you know. but even so, to get at it, we're not talking about a joint reservoir that if you stick a drill in and you suck up the gas. you're talking about rock formations. you have to have a drill every half a mile over hundreds thousand,

in addition, these are sandstone and shale. they have been uplifted and faulted and put into the position they are in today. on the cliff face, you can see the bedding of the shale. there are vertical cracks that filled the water and plans is growing. -- and plants are growing. the cumulative effect of the fresh cut with the debris sitting on the ledge, luckily we have a chance there to protect us from rocks going on the street. >> this is one type of rock salt and we will look at a few others. what will we see? >> i think it would be appropriate. we have been talking about rock salt. there is instability that occurs at telegraph hill. this was more in the earth flow and debris flow kind of movement. this moves downhill as a result of the rations from the earthquake. that is where we are headed next. >> here we are on the next stop of our landslide for parent though this is the lagoon ouna a area. this is different from where we all were just add on telegraph hill. this is a whole different concept. tell us what we have to. we

in addition, epa is assisting state and frat permitting authorities in the marcellus shale region by answering technical questions concerning the treatment and disposal of waste water from shale gas extraction. terks pa is conducting research to better understand the impact on drinking water resources. help assure that public health and water quality remain protected as natural gas helps to promote our nation's economic recovery and security. thank you for the opportunity to testify before you today and i'm happy to take any questions you may have. >> thank you very much. >> members of the subcommittee thank you for the opportunity to discussion the bureau of land management development and their application of federal level trust lands. we also provide permitting and oversight services on approximately 56 million acres of indian trust millionaires. the development of conventional energy resources will continue to play a crucial role in meeting the nation's energy needs. facilitating the safe, responsible and efficient development of these domestic oil and gas resources is the respon

stockmen will need to be developed at a lower cost in order to compete with the mass production of shalegas and gas problems international partner in the project norway's stats oil says that he believes a revamped plan to work on the deposit could be announced next month although will take longer for an investment plan to kick off production master the snow of shale gas has taken the gas prices in the u.s. down quite significantly you know there are you know from the chinese authorities a lot of talk about you know. shale gas in china it will obviously have some impact so the quarter numbers but it will have some impact so therefore i think there is a challenged person that needs to bring the cost of stock down to a level where a new project is economically feasible definitely more than ten percent. all right karen that's what i have for you this hour all right thanks a lot for that update i mean three next hour afghan president hamid karzai talks starting about the challenges his country faces and what's ahead once the u.s. and nato that's after a headline update in a few minutes. to wh

this a shale rock. and for those of you that are state regulators you're very, very aware of it. sometimes we lose track of the fact. when we're talking about pulling out oil and natural gas, many people are used to conventional wells with a pocket of oil or a pocket of gas there. the gas or the oil is not around this. it's inside of this. how it gets pulled out in this process is technology that is impressive in the way that it's done. to drill down, to put a well a mile deep sometimes two miles long underground through this rock just like this solid rock to frac it with water and with some props and pull out of this oil or gas is revolutionary. this is why we have such a tremendous supply online. we're pulling energy out of rocks. not out of a pool. not around this, from this. so it is somewhat a revolution, i understand that. it's not new in the past couple of years. in 2005 congress was very specific on this. that epa had regulatory oversight on it only if it had diesel fuels in the fracking fluid. my question is for any of you, why has this become such an issue dealing with

to summarize, that includes the eastern act shales project. we undertook this in the 1970s by the energy research and development agency, and the bureau of mines. collaboration with the gas research institute, which is a research consortia, they provided rnd oversight, and to the discussion earlier from senator murkowski, it was funded by a user surtax on gas transmission fees. so we set aside a little bit of those funds in the way that mr. augustine mentioned. to drive innovation in that sector, we think it is intriguing. fractional and chilling technologies wer developed by the bureau of mines and the morgantown energy research center, center, which is now the energy technology lab. senator bingaman's home state, they played thank a key role. that was a key technology that was later applied to understanding the geology of shale deposits and where the pressure is when a girl so the private industry could figure out where to locate the fractures. beyond the initial demonstration of these technologies, there was also a period of time when shale

they're doing -- you know, and there's been, you know, support for industry for the development of shale fracking and directle drilling, that's been done by the government support for industry. as well as 20 years of tax credits for production and subsidies. if we pay for some of this stuff, why not pay for it with some of the subsidies ta we're already paying to this mature industry? so, you know, it was -- it was government support that got shale gas to go from inaccessible to dominating much of our energy sector. so i -- i don't understand the unwillingness of my colleagues on the other side to even be present to -- and to recognize what role the government has played. i wanted -- you mentioned energy efficiency and efficiency, and about retrofitting. you touched on it a little bit. and i was just -- and that means things like smart meters to better gauge energy use or efficient microprocessors to make batteries last longer, innovation, and batteries are something that we've been doing in this latest round of government-funded research. one thing we did in minnesota that has helped cr

will take of course longer for an investment plan for production to kick off the must of the snow of shale gas has taken the gas versus in the u.s. down quite significant you know there are you know from the chinese authorities a lot of talk about you know. gas in china it will obviously have some impact on sort of quote the numbers that they have some impact so therefore i think there is a challenge ahead of us and that is to bring the coastal stockmen down to a level where a new project is he can only get this all definitely more than ten percent is. nowhere for you this hour so indeed the russian markets opened on a negative note. many thanks for that update to me. up next and they're kind heart and hospitality are known across russia we meet the obligations of the south that's after reminder of our top stories stay with us. led mission free play critic a should be free look on store charges free. range month free risk free studio type free look the old free broadcast quality video for your media projects a free media and dog party dot com. please . more news today violence is once agai

and russia's stockmen should start developing at a lower cost to be able to compete with the growing shale production now gas from the international partner in the project to norway stats oil says that a revamp planned to work on deposit could be announced next month but it will take much longer for an investment decision because there must be the next know of shale gas has taken the gas prices in the us quite significant you know there are you know the chinese authorities said look talk about you know also gas in china it will obviously have some impact so the quote the numbers that you have something so therefore i think there is a challenge ahead of us and that is to bring the cost down the level where you project is equal only definitely more than ten percent. and that's what i have for you this hour care and i will be back with more of course next hour all right thanks very much for that update dimitri on the way of finding the facts amid the chaos and the arab world more on that after a recap of our top stories shortly. the . goal of. the book. the speech. she plays the birth of her.

must the next know of shale gas has taken the gas prices in the us quite significant you know there are you know the chinese authorities say look talk about you know. gas in china it will obviously have some impact on sort of the numbers but the you have something so therefore i think there is a challenge ahead of us about this debate in the coastal stockmen down to the level where you project is economic definitely more than ten percent. and that's all i have for you this hour of course in the next hour will be much more interesting i'll have the opening values for the right hand as it always thanks for that update to me three. up next there a kind heart and hospitality are known across russia we may be i began the south that's after a minder of our top stories. the goal of. her mother lived up. the street. she blamed. her for her. wish. good luck missed some good. luck just see them on the enemy coming up to. come out of my mind i'm a little. russia would be soo much brighter if you knew about zoom from funds to impressions. these food stamps on t.v. don't come.

we're not the only country in the world with a large amount of shale gas resources. it was the united states that developed extraction technologies first. it was because of the government partnership that dynamic sector that was able to develop those technologies. now the united states enjoys a massive source of domestic energy. if you look in 2005, not long ago, that sector was a tiny creature and this technologies were still cost ineffective. you cross that to the point and you have a revolution in the energy markets. that is a parable for what we can and should do the other technologies. energy demand in the nyad states is fast, and shale is great, but we cannot rest on those laurels. we should continue to develop a diverse sorts of cleaner energy technologies. winning the future. >> i cannot think we can end on a better note. >> thank you both very much. this is very useful testimony and we appreciate it. that will conclude our hearing. [captions copyright national cable satellite corp. 2012] [captioning performed by national captioning institute] >>, here is a l

shale is great for expanding energy supply. should continue to have made their bursars' of clean technologies use said we can't in the future senator. >> we could not and on a better note. they do. >> very useful testimony. we appreciate it. that will conclude the hearing. [inaudible conversations] >> good afternoon. ladies and gentlemen, welcome to the daily briefing. on thursday president obama will travel to iowa with his latest to do this to support manufacturing with the clean energy sector to pass legislation to extend the tax credit and the band's energy manufacturing tax credit. i am joined by heather zichal who just concluded a meeting with wind energy developers to discuss the value of the tax credits to a range of industries and communities to work together to ensure they are passed. we're joined also by 81 ceo of wind energy systems located in a western suburb of chicago. started testing gearboxes today they operate two factories with 380 employees. it shows what could have been if we fail to extend tax credits. we

president obama administration restricted oil production in the gulf limited develop of american oil shale. >> wait. wait. wait. i thought gas prices were in disastrous shape. wh hpens now? and the gop turns around and uses cory booker to back president obama. >> it's nauseating to the american public. enough is enough. >> booker didn't see that coming? of course they were going to do that! and then finally, the tea party's whole-hearted defense of the bankers. >> the government sets the rule. don't blame banks and the marketplace for the mess we're in right now. i am tired of hearing that crap! >> oh, those tea party freshman i'm coming for them! i'm coming! it's go time! ♪ >>> so you remember a couple of months ago -- every moment gas prices gas prices they are so high! my god the gas prices, what are we doing to do? remember this commercial? >> then and now, the difference president obama administration restricted oil production in the gulf limited develop of american oil shale and president obama personally lobbies to kill a pipeline bringing oil from canada. >> whatever happens to gas

hamm's company has bought up most of the leases for the bakken shale formation in north dakota and hasthere. in fact, mr. hamm was featured in a "business week" article back in january under the title "the man who bought north dakota." he's been very critical of obama's energy policies, thinks he's holding back oil and gas drilling in the united states, been very aggressive on that. and he emerged in march as being named by the romney campaign as the chairman of the energy advisory group for the romney campaign. >> was this quid pro quo? >> reporter: that's the interesting part. what we discovered yesterday was about the same time just a few weeks later, mr. hamm donated nearly $1 million to the romney super pac. this is kind of a new wrinkle here in the super pac phenomenon. we've all been focused on, are these big mega donors, the six and seven-figure donors having influence with the campaign? are they getting access? in this case, mr. hamm is explicitly helping to set policy. he's the chairman of the energy advisory group and at the same time he makes this huge donation. the romney

doesn't matter that this company has some of the best oil shale holdings on earth in california. doesn't matter that this is a really valuable company. it's the same chart as the others. it's not just the oil patch. don't get too complacent. take a gander at another company i like so much. this is joy global. no joy in global. this is the mining machinery maker that gets the lion's share of its sales from coal. joy has fallen off a cliff. already down a cool 40 points from its 52-week high. brodin believes joy could fall another $11 to $14 from here. it did go much lower during the 2008 period. speaking of 2008, there's freeport mcmoran, the huge miner of copper and gold. just like all the other commodity-related charts, freeport has been making lower highs and lower lows. the stock is well beneath its 50-day and 200-day moving averages. even though it's already fallen a staggering percentage, brodin thinks it has a ways to keep falling. it might not stop until it hits 21 or 23. not even the yield can save it. remember this one bottomed at 17 when it got rid of the dividend. i ju

loves the shale part of the eog play. basically it's exposed to oil, shale oil and nat gas.tive according to goldman. they removed exxon mobil, by the way, to find room on the buy list for eog. >> peabody energy staying with the commodity space. >> we've been talking about coal. beaten up. goldman sachs more positive today. they upgrade many of the names but will focus on peabody to a buy for three reasons. improved china data. powder river basin coal pricing. just a region in the upper midwest where they say pricing is more stable. they like the valuation. the stock's down 28% year to date. it's been just hideous for coal. >> a little bit like peabody, there's another company, chesapeake. i'm sure does not want to hear itself in the news once again. today a good news story, right? >> good news for the investor. maybe bad news for chesapeake management. carl icahn unveiling a huge stake in chk. 7.6% of the company's stock he now owns. he's already calling for the removal of at least four board members here. they said, of course, they would, quote, review his request. icahn g

chesapeake has been among the energy leaders using fracking to free oil and natural gas from shale rock. the practice has helped increase natural gas supplies to record levels, pushing prices to near ten-year lows. low gas prices and worries about corporate leadership have pushed cheseake stock down 40% over the past year. shares rallied today after the firm announced it would split its chairman and c.e.o. positions. david webber is an associate professor of law at boston university, where he concentrates on securities regulations. professor is the right move to separate the roles of chairman and ceo like they've done at chesapeake. >> i do think it's the right move. separating them is a step in the right direction because it's a way to restore some accountability within that company. there's a constant concern within corporate governance that ceos and managers are running the company more with an eye towards their own benefits than shareholders and a great way to restore the accountability is having oversight by a board and separating the chair and ceo role is the step in the right dir

and a report on how fracking the extraction of natural gas from shale rock has caused outrage in britain has about its destructive impact on the environment. u.s. secretary of state hillary clinton is in beijing for wide ranging strategic talks with china a visit coming at an extremely delicate time in relations between the two nations beijing wants an apology from washington after accusing it of meddling in its internal affairs but the u.s. embassy harbored a chinese dissident activist china is also irritating every u.s. military buildup in the asia pacific region. for sure and so. u.s. leaders realize washington is actually in a weak position at this stage. so mean now obviously the chinese are not very happy at those developments and i think inside to some extent america's actions are much more provocative than they might be but from another perspective the chinese economy is growing in her normal space and the american economy is not so it's perfectly rational for the chinese leaders to in effect except these two print pictures on america's side and just realize that another five or

have seen gas prices drop to the lowest level in ten years due to warm weather and booming shale gas production. that's all i have for you this hour but of course nextel they'll have the opening figures for the u.s. markets and we'll be close to the closing bell in russia. thanks to me tree here now to just a few minutes an update on the progress of. venues construction all appears to be going well but we've got an update for you after a quick look at the headlines with me kevin next. me eve. eve. there hasn't been anything yet on t.v. . it is to get the maximum political impact. before source material is what helps keep journalism on the real world. we want to present. something else. very good afternoon for me kevin owen here at our team today it's half past five moscow time the top stories the cracks grow wider in egypt's troubled election violence swells of a banned religion. candidates with the ruling military saving to be the only ones to benefit. hillary clinton pitches for china's support for north korea and iran but the u.s. military's asia pacific buildup and support for th

gas production is also something russian manufacturers are looking out for shale production has become a focus for the russian gas industry as well. all right thanks so much. promise to be a tough end of the day it was an easy. day afternoon sport in fifteen minutes here on r.t. . headlines next to an after minutes away. please me. there hasn't been a thing yet on t.v. . it is to get the maximum political impact. before source material is what helps keep journalism honest we. we want to present. something else.

percent us have seen gas prices drop to the lowest level in ten years due to warm weather and booming shale gas production. right that's all i have for you this hour but of course next to have the opening figures for the u.s. markets will be closed to the because about in russia. thanks to be true here now to just a few minutes and update on the progress of such ease a limb pick venue's construction all appears to be going well but we've got an update for you after a quick look at this headlines with me kevin next. thank you. it is me. there hasn't been anything yet on t.v. . it is to get the maximum political impact. before the source material is what helps keep journalism on a real world.

bring you up to date in the hour also a reform on how fracking the extraction of natural gas from shale rock has caused outrage in britain with fears now about its destructive impact on the environment. u.s. secretary of state hillary clinton is in beijing for a wide ranging strategic talks with china and her visit coming a little extremely delicate time in relations between the two countries beijing wants an apology from washington after accusing it of meddling in its internal affairs after the u.s. embassy harbored a chinese dissident activist china's also we're aetate over the american military buildup in the asia pacific region investment from says slow and so washington give the full day doing everything. the u.s. strategy is really trying to encircle china from all the. way from japan to philippines where now and now india is so three quarters so the u.s. is calling china an expression lead in itself china sea there you have a military exercise somewhere for philippines and so that these two smaller countries can dare to challenge china so the u.s. strategy is to. give enough back

is going to have the eventual to have the eventual monopoly of shale production.countries cr including china, italy, even middlesex co, they have significant shale resources. they don't have the technology or the organizational capability. who's to say their organizational capability is not going to spread across the globe. >> feel better? >> i feel great. >> becky, we don't necessarily need the -- >> that's fantastic. that's fantastic. >> these are not -- you wouldn't call this many renewable but they can be clean. >> cleaner. >> there is no question -- there is no question that gas from a climate perspective is definitely much more attractive compared to -- >> it's a hundred times better. >> the on thing nansen, the bears, the peak oilers would say you're still not facing the facts, you're still spinning we still have plenty of reserves left when the saudi oil fields are totally depleted. >> i love this thing because this is been going for the last ten years, okay? >> i know. >> and people said specifically about six, seven years ago in the matt simmons era that

opportunity that bringing together the idea of horizontal drilling and hydraulic fracturing to recover shale gas could well buy us the time to pursue some of these really promising clean energy opportunities that otherwise we just didn't have time to pursue, given our dependency on oil and lack of much we could do about it. and as you point out, it wasn't many years ago that we were number one in central thermal systems, wind power. today we've lost our lead. i was recently in japan, i was struck by how much we've lost our lead. >> thank you again for your leadership. great to see you. >> thank you. nice to see you, sir. >> senator franken? >> thank you mr. chairman. and thank you, mr. augustine. we seem to have a debate here in the senate over the very nature of the role of government in development of new technologies and, again, i'm -- i appreciate the ranking member being here, but again i don't see any of my colleagues from the other side. i don't -- we have these hearings a lot and we have -- either they don't show up at all or they come in and make a statement and leave and sometimes

the first quarter the five percent us to see gas prices dropped ten years due to warm weather and shale gas production. and that's all i have for you this i'll be back of course in around fifty five minutes of being you the latest business update all right thanks to me trying now we've got more insight into the world of big money in just a few minutes on this channel the kaiser report avails all the latest dirty tricks of the financial giants so it's a good watch for i brought you up to date with a round of our top stories just a bit of under two minutes time from now. well the. technology innovation all the rest of elements around russia we've got the future covered. lives keep this inside he too can read the room. to spin. me to fill. ups. civilization notice their absence. but is there life on site civilization possible. to. follow if you just joined us from you're watching your. the world a very good evening from moscow it's now half past seven pm this is r t these are all top stories the cracks grow wider in egypt's troubled election violence swells over religious candidates for th

us are seeing gas prices drop to the lowest level in ten years due to warm weather and the booming shale gas production. well be back at the top of the out to bring you the closing bell figures for the russian market already cut things to me tree looking at the sport coming up this hour crunch moscow darby a russian football's premier league promised to be a tough one but it is an easy win for scar and paul got the details of all about that in fifty minutes time for a broken up that i headlined in exactly two minutes from now this is the. world for the. technology innovation all the developments from around russia we've got the future covered. zip zip grid lumber tour to mccurry was able to build a new its most sophisticated robot which on fortunately doesn't give a darn about anything. to teach the creation why it should care about humans in the world this is why you should care only on the dot com. russia would be so much brighter if you knew all about someone from fund.

the us to see gas prices drop to the lowest level in ten years due to warm weather and the booming shale gas production well be back at the top of the hour to bring you the closing bell figures for the russian market. things to be tree looking at the sport coming up this hour crunch moscow darby a russian football's premier league promised to be a tough one but it isn't easy when scar and paul's got the details of that in fifty minutes time after i brought it up that i headlined in exactly two minutes from now this is. from moscow. well for the future of science technology innovation and all the news developments from around russia we've got the future covered. secret lover touring to mccurdy was able to build a new most sophisticated robot which on fortunately doesn't give a darn about anything tim's mission to teach music creation why it should care about humans in the world this is why you should care only on the dog. which brightened if you move the song from fans to christian. stance on t.v. dot com. thanks for choosing r.t. for your news update these are all top stories the cracks

even if you look at offshore oil, what's happening at shale, creating manufacturing jobs in ohio, creates i.t. jobs in california and that it, you know, i think that even i think a couple of years ago, i had more focus on energy security, balance of payments and not so much on, if you have these rather large dollars being invested here in the united states, rather than being in a sovereign well fund somewhere else, a big impact and resonates out into the economy. you can see the shift that's occurred here in the political discussion in washington and a lot of the discussion about energy is really now a discussion about jobs. >> in terms of the economy data that's been released this year, the perception amongst most economists the year got off to an encouraging start. now the narrative has been slowdown. are we headed for a repeat of last year, the slowdown became quite substantial ledding in ih into the summer and people were talking double dip? is that on the plmenu again. >> from last summer to the middle of the first quarter as financial market volatility dropped from -- from, well, th

dollars towards about eighty five dollars simply because if you look at the amount of supply coming from shale oil coming from deepwater which is a mature technology that has gone international shell oil will go international right now it's just in north america phenomena but you look down the road those volumes are coming in it's significant any significant changes the outlook. climb in the bag so yeah indeed we did see and then there's your positive opening of the russian markets but who knows what will happen next well to get thing we have here to tell us thank you to me. more on money in a few minutes as we discuss the future of greece and the eurozone not after the headline still to come. we have to begin to identify those goals you have been. pushing. for. a mother look at just the last. pleas to come to peace. as i give my people a similar ban it is a bunch of losers but i have a very good job. people have jobs here that's all nonsense and they would have jobs they're losers. cause. i laugh laugh laugh laugh. laugh .

market the international energy agency says this is likely to happen in case of a potential boom in shale and other unconventional gas extraction mostly in the united states and china but the possible change will most significantly affect gas output in europe which is the main consumer of russian gas. as a continent strict eco standards make it difficult to develop any home for gas production the demand for the global economic slowdown makes more companies bolder and to rival ray a report by accountancy firm showed that more than a third of the executives whoa admitted that corruption practices do occur frequently in that country in just one year the number of people compared to women do increase from no eye to fifteen percent and they say that the markets in our next hour have the figures for europe right katie thanks for that update we will see you same place same time next hour like you said and coming up on archie we have an exclusive interview with israel's deputy prime minister after a short break and i want. there hasn't been anything good on t.v. . it is to get the maximum politic