america has a lot of shale deposits.he bakken in north dakota, the marcellus in pennsylvania and new york, the woodford in oklahoma, and in texas, the barnett, the eagle ford, and the permian basin. >> chevron's history in this basin goes back to the early 1920's. almost at the start of the basin. we are fortunate that we have been here for a long time and have been here consistently. this basin has seen ups and downs in terms of production. it had been on a gradual and slow decline. then a number in the industry recognized the unconventional development in the barnett outside of forth worth and dallas could maybe be applied here. it turned out that was exactly right. we are in a renaissance in the permian basin today. erik: no oil company has more land in the permian basin than chevron. yet chevron missed the first wave of fracking success. independent producers were faster and more aggressive. >> the shale revolution came on so fast. let's be clear -- so far, the majors have not played well. but i think we have to thin

the safety net protecting shale oil producers, that is about to give way.es, shell companies just out billions of dollars in insurance to guarantee them a minimum price of $90 a barrel. payments account for more than 15% of their first-quarter revenue. the insurance is about to expire, and for the effect it will have, i want to bring in ashley loder. ashley: thank you. pimm: explain this idea, you are a shale oil producer, you see the opportunity to lock in a price. keep in mind, most of these countries spend more than they take in. today, with oil prices at 58, they cannot do that so they are cashing in the hedges but the hedges will start to run off as the year goes along, and we have seen revenue go down 32%. , as you these hedges say, continued to expire in the futures market, what does that mean for the oil shale producers? do they close up shop? >> they are very dependent on their lenders in the graces of the capital markets right now. one of the things that is happened is they have to have these hedges on for a lot of their lenders to continue to ext

governor wolf must get the shale tax in some percentage -- the severance tax on shale. he wants 5%. he'll get 2.5%. he'll get 3%. he campaigned on that issue. what he's not gonna get is an expansion of the sales tax going to all the different products. there is lobbyists up there galore that'll make sure that's killed, and republicans will not vote for it. perhaps a slight increase in the sales tax, which has not been increased, except in philadelphia and pittsburgh, since the 1960s. >> jeff makes a good point, and we shouldn't forget that tom wolf won a historic victory -- first time to ever beat an incumbent governor by a huge percentage -- and he ran very, very clearly on the shale tax and funding for schools. >> i'd hate to carry that bowl of water -- low turnout. >> i would put a big asterisk on tom corbett. >> and the legislature was still heavily republican, and they did well. but you'll see something. you'll see something. but they need revenue. you can't -- philadelphia can't do with $18 million. republicans understand that, as well. the other schools need it. there'll be l

"faultlines": death on the bakken shale. only on al jazeera america. >> this is aljazeera america live in new york city. i'm tony harris. computer glitches impact the new york stock exchange. and air travel changing of the guard. baltimore's mayor commissions the police to stop the spike in violence and the muslim community comes to the aid of the african-american community. >> and we begin with a challenging day of technical glitches for the world's large effort stock exchange, and one of the world's large effort

shale could stomach $60?u look at the oil market, what is the most underappreciated aspect of the oil market now. gary: your point is well taken. i've been around a long time. i started in 1970. the higher the oil price, the higher the cost. the lower the oil price, the lower the cost. they go hand in hand. the fact that we are seeing lower cost is not shocking. we have seen dramatic productivity improvement. people going to explore the sweet spot. all this could lead to an incremental supply at relatively low prices. i think the underappreciated point is that huge bucket of 40 million to 45 million barrels a day. that bucket where you are seeing 20% decline in capex and a decline rate typically of 7% to 8% normally, it is that decline rate which i think is being underappreciated today. the second major thing is the political risk in supply. what i referred to early on when we started, isis' capabilities are growing every day. people are ignoring the fact that it is occurring in an environment where there isc

shale industry.on't think that will happen but no doubt about it that the shale boom allowed this deal to go through because it enabled the west to put the squeeze on iran. liz: anytime we put the squeeze on countries that despise us, especially economically, fine with us. good to see you, john. >> it happened. liz: john, thank you very much. john kingston, mcgraw hill financial global institute president. we appreciate it. closing bell nine minutes away from hearing that ring and we have a bull market on our hands at least for today. prime minister alexis tsipras, still live, still talking on state-run television in greece trying to sell his country on a deale sa was deahe di't wt toign. heaid at jt abt 20 nuteago. the deal allows greece though to dodge a very painful bullet. the big vote in parliament set for tomorrow but how can you make money right now on europe? if you want to take a little bit of a risk for a big payoff, jack oliver tells you next. ♪ copd includes chronic bronchitis and emphyse

i meant to say shale boom and shall bust. >> sales are down between 25 and 55%.epstream realizations down, both gas and oil domestically and internationally, driven by weak wti. the support from the downstream side. betteril leads to refining margins given the u.s. benchmarks >>. probably of year over year by 20%. to offsett be enough the negative impact from the upstream. alix: exxon is different from the other companies we have seen reporting. they can cover the dividend. they have the free cash flow. >> they do. i think the dividend -- others have a spot here. i have been waiting here in june -- the next thing i am looking to it is for some of the m&a to have been the industry. it looks like the perfect time to start. some of the players have gotten insanely cheap. betty: -- alix: who would be the potential takeouts -- >> i am with you for the kinds of things we saw in the late 1990's. --n texaco got bought by pp bp. there may be a little too much baggage for something like that. someone who has tremendous acreage, they're really under the gun and their stock

it held of a lot better in north america because there is not that shale.this is when we are talking about earnings and she'll weakness, this is where we are talking about. alix: this is where you feel the pain. when you hear about a drop, this is where you see it. alix: investment is down 35% in of america. joe: huge. drizzle's currency took a plunge today. we will tell you why -- drizzle's currency took a plunge today, we will tell you why -- took a plungency today. we will tell you why after the break. ♪ alix: i am alix steel. joe: and i am joe weisenthal. "what'd you miss?" brazil's currency took a dive. they cannot get a break. joe: it is unbelievable. alix: reform? what reform? at $20 trillion, that proves a huge risk. joe: and chinese stocks have lost 20%, and that has had the government take drastic steps to prevent the fall. alix: i spoke with george magnus about whether these moves will work or not. regime, ais is a party, that basically runs the country, it owns the banks, it has huge holdings in state enterprises, pretty much what it says it goe

"faultlines": death on the bakken shale.y on al jazeera america. >>> greece has an economy that represents about 2% of the g.d.p. of the european union, by geography, history, political inclipation, it's been a bit of an outlier, a little balkan, a little eastern european and a little eastern. it hasn't been a democracy for long when welcomed into the european union, and later into the euro. as expert gets noted. this was as much as political decision. this had no history of currency and integrity, it valued the track ma, accepted the fiscal discipline to get into the euro, but didn't keep it. we know it now. it's unclear how democracy hold them responsible. it's like knowing someone did you dirty, and if they are not available, pumping someone else in the nose. alexis tsipras and his syriza party came to power promising not to do what he just agreed to. it's tough medicine sore greece. get mad. throw them out of power. who said the choices made will get any better. cracks were bound up over the weekend. and the voters annoy

actual spending has held up a lot better here in north america because there is not that shale.: we talk about earnings and weakness of energy. alex: it's where you feel the pain the most. joe: when we see the big drop, this is where we see it. alex: check out these companies when they report earnings. wow, investment down 35% in north america. joe: huge. brazil's currency took a plunk today, we tell you why after the break. ♪ ♪ >> i always challenge myself of not repeating myself in a way and using new technologies or i enting new ideas and think it has its alex: i'm alex steele. joe: and i'm joe. "what'd you miss?." alex: we talk about a plunk in brazil's currency. it fell after it was reported hat federal prosecutor's are investigating allegations of influence peddling. joe: they are probing whether he used his influence in panama and venezuela. alex: can't get a break. reform, what reform. they can't get it together. china has 40% of outstanding global corporate debt over the next four years. at $23 trillion, that poses a huge risk to the credit market. joe: on the equities

they thought shale oil and high-priced oil. it is not high-priced. a dollar spent at the end of this year is going to be 65% more efficient in terms of production. an innovative industry. pimm: tell us what happens to the economy of russia. daniel: what is giving it some is down.n, the ruvell they get paid at less dollars, but the dollars by more rubles. hit asnot been as big a might have been sought. those are thes, ones suffering more from the price to klein. what happens when we see more cars in the introduction of this sharing economy. daniel: we have had peak demand. we had the top around 2005. 2025, 55.5e law by miles per gallon per car. consumers are voting with their feet. they are buying more suvs. what is striking, u.s. gasoline over what it was last year. price matters. pimm: with u.s. drivers consuming, what does this mean for the future of transportation projects? daniel: i would like to see the rail service improved. pimm: thank you. he is the author of "the quest." matt: fascinating stuff. greece, the uncertainty. it has scared off inv

shale producers -- they are getting more efficient.ber of drilling for oil last week by 21%. remains here the highest in 30 or 40 years, and that hasn't really changed despite this low-price environment. u.s. supplies are about 100 million barrels above. the second factor is opec. we saw them shift their strategy from focusing on prices to defending market share, leaving members like saudi arabia and iraq producing record levels to maintain their customers, especially big customers in asia like china, japan, south korea, and india. is the nuclearr deal with iran. if sections are lifted, they have been explicit about plans to boost production of oil. even if that doesn't hit the year, until late next that is really a factor that is weighing on prices. fell to theitions lowest in two years. there is a lot of bearish sentiment. there is not a lot of evidence that would indicate oil prices will rise in the short-term. rishaad: thank you very much. we will have more details throughout the program. with hashtag #trendingbusiness. nextl could

shale drillers out of business. but it is not working, is it? alix: it is not just about u.s., it is about targeting non-opec high cost producers, like russia, brazil, and mexico, saying last week that they were going to see no production growth out of these countries next year. the u.s. will grow but not as much as expected and in that way you could say that the plan is working and doing what it should be doing. look at the take a other themes of the day, the stronger dollar never helps commodities when there is not a lot of news flow going around. matt: probably a huge part of the price action. alix: right. so, the iran deal, inching closer to having less. and there is 40 million barrels of oil floating around waiting to be sold once the sanctions are lifted. is wonder about gas prices related to oil. alix: of course you do. matt: because i drive a lot. alix: we are having very high global product stocks. we now have enough to be about 30 to 31 days for demand. the more that you have a build in product stocks, the more the refinery margins will shrink. you know what? i will

the demand is increasing shale in oil, that is part of the story.coming from the slowdown of china, a combination. i've have of the other factors there is also the fact that when the fed is hiking rates, that weakens commodities and it leads to the dollar price of commodities, so the combination of all of the global tailwinds supporting the global market china -- it is now becoming headwinds. as the fed exits, it is over. tom: you live on airplanes, he just traveled from kazakhstan you buy suits an airplane terminals to your know that, nouriel. nouriel: yes, i do. tom: that is at laguardia. within that is technological process. this time is different, productions are not going to slow down. when does the price clear if we have this overlay of technological progress? my answer is we do not know. nouriel: there are lots of different estimates about what it will be, gaza oil, some people think it will only be 2% or 3% per year, others think it will be 5% or 6%. 7% for five years as more than 35% which is a breakeven price for the production of shale oi

shale. we were adding wells in the u.s. as oil prices completely destroyed.ou do see rigs lag by about three to five months, and we've not seen that yet. matt: doug, what about m&a action? are we going to see more about that? we'll big players go sweep up small players are having trouble tapping credit lines? seeinge probably are this. they're looking at mergers and acquisition opportunities. but quite frankly, the real issue with these companies is not that they are not big enough, there plenty big. it's just that if you look at their capital expenditure, in relation to what they distributed to shareholders, and as doubled since 2008 at 2009. not only on absolute basis the relative to the markets. whether they become larger or not is not the solution. they just need to become more disciplined with their spending, improve the returns. if they do, they will improve in the market and we won't see these big earnings messes like we saw today. started cutting costs before oil prices fall, which is partly why exxon is , liens, andlix: dividends. we heard from a son

shale drillers are starting to lose their safety nets with a $90 hedge.he insurance protecting them isinst plunging oil prices falling and companies that get a lot of revenue from these hedges could be in for a world of hurt. bradley olson joins us from houston with more. definition of what a hedge is and how it has helped these producers in the past. bradley: it is essentially locking in prices. revolution we have seen in the united states was fueled by that and in order to get that that, a lot of companies had to promise to lock in oil at a certain price. usually $90 or a below and above price that they use to lock it in. they do that to protect themselves and it has functioned well for a lot of them until they start running out. then they will be facing a full force of that. alix: how much do they stand to lose? ofdley: in a case standridge, it was as much as to a percent in their quarter. are making a third or a fourth of their money on derivatives rather than on oil and gas drilling. that gives you a sense of the exposure. alix: what can they do abou

no one understands how shale works in this environment.n people are treating oil or commodity related etf scum are they doing it as the other trade with the dollar or looking at commodities specifically? >> we don't know. we see the prince, we don't know what they're doing with it. -- you can short and etf. they now have triple leveraged inverse. velocity shares has triple ,everaged inverse crude oil etf gives you three times the opposite of crude oil futures every day. month.ing is up 74% this it has been on fire. has beenor twin getting killed. most of the money has been going into log site -- alongside. -- longside. see: using that -- if you cuts continue and production lower overall. scarlet: what about the gold etf's? what kind of disparity in performance do you see between the difficulty gets? -- between the gold etf's? >> gld is the big one. there was a new one that came -- we have seen there is a gold etf that is above water this year. what it does through this derivative combination is gives you gold in euros. it is flat on the ye

"faultlines": death on the bakken shale. only on al jazeera america. >> this is aljazeera america live in new york city. i'm tony harris. computer glitches impact the new york stock exchange. and air travel changing of the guard. baltimore's mayor commissions the police to stop the spike in violence and the muslim community comes to the aid of the african-american community. >> and we begin with a

"faultlines": death on the bakken shale. only on al jazeera america. >> gang rape, among the most shocking of violent crime is stirring a global outrage. throughout asia, it is believed to be far more common than most people think. >> rape is a major problem in all countries across this region. >> women's experiences of violence are well documented but the motivations of men have been largely in the dark.

these are the prolific shale areas. one of them is increasing, two of them decreasing.theless, this is quite in terms of oil prices being up, you can just focus on a run for that because we are not seen a deal. the deadline will be extended yet again. around pushing back when will get sanction relief, and when they can get oil on the market. that is what the market is looking at right now. scarlet: also looking at a forecast from the energy agency on the demand for oil and we already know it is plentiful. alix: they are looking at massive oversupply, expecting prices to fall even further. for the short term, looking very bearish. is tightening in laces like russia, mexico and the u.s. as it slows to a stance. looking at shale stagnating, no real production growth in the united states. that feeds in may. decline in russia and mexico. but we are not seeing the bottom yet because while global oil demand was slow, because the americas and asia are the continued growth story here and in china. saidet: i noticed that you production outside of opec countries. what about opec p

they make their money in the united states, and are exposed to shale.it is a nice clean read on the current state of the oil market. alix: if market pressure hasn't abated, i'm excited. joe: greek banks reopening. that will be interesting. there aren't many examples of banks being closed this long and then reopening. we don't know how that will be. people get nervous, want to pull their money out. that will be an interesting test of how the use of capital controls work. alix: how many days? joe: a couple of days. alix: this should be good. joe: this is a big one. that is all for "what'd you miss?". thank you for watching. >> from our studios in new york city, this is "charlie rose." story this week after months of negotiations, the nuclear deal now heads to a review.kill for -- capitol hill for a review. sen.ng me now, senator tim kaine:, member of the committee and was one of the first call for congressional review of any deal. welcome. thanks for joining us.

inke their money the united states, exposed to shale.it is a nice clean read on the current state of the oil market. alix: if market pressure hasn't abated, i'm excited. joe: greek banks reopening. that will be interesting. there aren't many examples of banks being close this long and then reopening. we don't know how that will be. people get nervous, want to pull their money out. that will be an interesting test of how the use of capital controls work. alix: how many days? joe: a couple of days. alix: this should be good. joe: this is a big one. that is all for "what'd you miss?". thank you for watching. ali mom has always been one of those people who needs to keep busy. if she's not working in her garden, she's probably on one of her long walks with bailey. she was recently diagnosed with a heart condition. i know she's okay, but it concerned me she's alone so often. so i encouraged her to get a medical alert button. philips lifeline offers the best options to keep her doing the things she loves in the home she loves. if she ever falls

we had shale production. then there is everything else.we have lost saudi arabia's weekly supply management. we are starting to see a lot of big returns drop off. that is what is across the board. i would expect them to drop first and a drop in production in the next six to 12 months. ultimately three years out you will see the impact from offshore investments. >> the china story is key. what about the dollar story? is that in the background or is that key? >> it is not just an oil story. commodities are down 8%. the one thing i will say is it feeds through the supply side. i say you have a lot of exposure in your portfolio. i say, what do you mean? everyone is competing with you. they have basically enabled them to shut out u.s. exports. >> the conversations of the fed must play in. where do you see the federal reserve heading next week? andrew: they have been fairly consistent. we have similar levels of interest rate. there is a strategic need to get it up. it is about the long-term issue. andrew: a straight --anna: a strategic need. i l

paolo: there will be many deals in the area of shale oil and shale. the economics of those companies are difficult today. a solution is always to merge. in europe, i don't think there will be a lot of activity in m&a in the future. manus: is bp a potential target? paolo: it is a potential, of course. manus: on a scale of one to 10? paolo: down to the one. the british government said, i think quite clearly, that it will not like a takeover of bp. manus: they don't want the italians taking over bp. paolo scaroni him a fantastic to have you with us. former chief executive at eni,. let's talk cars. peugeot's first half earnings more than tripled. they exceeded analyst predictions. they tightened control on spending. they sold more vehicles at a higher price. let's cross to kerley codon -- to caroling, with the cf -- caroline connan with the cfo. caroline: good morning. it is a good set of earnings today. 1.42 billion euros of income. i'm happy to be joined by jean-baptiste de chatillon, the cfo. good morning. the first question, we've had a very difficult

we're going to see the majors beating shale. down between 40% to 50%.a bit blood -- a bit better. big oil in europe could be up. caroline: give us a sense where the bright spots might be. it is all about refining. javier: it is all about refining. we are talking down. we're selling down the refineries. it was seen as the ugly sector of oil companies. all that was important was production. money is very high for refined products particular gasoline here in europe. we could see an increase in profitability in the first three month of the year. caroline k tell me about -- caroline: tell me about trading. javier: within -- we think trading profits can be down, because markets will be nearly as volatile. trading would be together with refineries. caroline: an interesting theme is people talking about consolidation. whether we are going to see more of these oil majors fight with each other as we see oil prices at record lows. what can we do in this situation? shell has been eyeing a bg group. shall, what can we expect? javier: this deal with bg and certainly

the marsalis shale has run from producing zero per day to becoming the largest gas producing basin in united states today. a day.ng newly 20 bcf you see supply growth's from this basin outpacing the demand growth you are seeing in the northeast. that is having implications across the country. we are seeing national -- natural gas supply outpacing demand and that is pushing -- putting pressure on gas prices. alix: a billion cubic feet a day. when you take a look at natural gas prices compared to henry hubbs, we just took one and that was dominion southpointe spots which is one area of the northeast versus henry hub. how do you deal with that when you are so far below that benchmark estimate -- benchmark? >> it hurts the industry in aggregate. the reason why that is happening is there are -- more gas inc. produced here than there is capacity to deliver to markets outside of appellation. built up bottleneck. it is not necessarily applicable to all companies appear in appellation. .he -- appalachia there is more gas produced and the solution is securing capacity on the interstate type lin

. ♪ erik: from west texas shale to drilling rigs far offshore -- >> we need a hand on the handrail. from angola to australia -- >> you're looking at the inside of an lng tank. erik: a thirst for energy has pushed chevron to almost every corner of the globe. >> we believe there's opportunity to progress. >> good job, erik. erik: the giant company is active in 180 countries. >> it is the largest resource project in australia. erik: pumping almost 2.6 million barrels every day. these are challenging times for big oil. fracking has upended the global market. renewables lik

which is about to crush the market and has already obliterated our shale sales. the fact that it's happening because the president and -- which means that every country in the region that fears iran's primary export terrorism is rearming and rearming in a hurry. russia has ambitions like we haven't seen since the cold war. they're not eyeing one of the baltic states to test the west after the ukraine? remember, estonia, latvia and lithuania are all nato members. how about china with the military push? paper tigers got to become more of a real tiger. have them build aircraft carriers. so the rest of asia feels threatened and it's not like we seem gung ho about playing the world's policeman anymore. and of course there's isil and isis. can isis be stopped? not with words and three cups of tea. that's for certain. none of this is on the defense companies. raytheon which can shoot down missiles boosted the profit. i expect northrop grumman to deliver similar results next week and lockheed martin doubled down with defense with the -- no the steal of sikorsky helicopte

that was a big deal as we have seen the oil rigs come off as we have seen oil prices come off and shale has been starting to add some rigs back. all five of the prolific plays added rigs. the reason this matters is if oil companies are coming back again, they are going to keep drilling and that will have some issue for the recovery in oil prices. the oil rig declines have become so consistent that i almost stopped paying attention to them. now they are back up. alix: it was really exciting. for more on the big story, i want to bring in our guest, a bank of america merrill lynch head of u.s. equities and quantitative strategy. also a u.s. of oregon -- university of economics professor from the university of oregon. what is -- what does today's report mean for the fed? does it change anything for the fed outlook? guest: i don't think it's going to change anything about the pace, i forget fits well with the view that we will have a gradual up tick in rates. as far as the timing, it pushes septemberle awayfrom toward december, but we have a few more reports to get do a lot more data. today'

into shale.about some other topical moves in the market. we are asking questions on twitter as to whether a government and china should be trying to influence the direction of the chinese stock market, what are your thoughts? guest: i am not sure whether they should. whether they will or not might be more important. i think they will. anna: ucb's actions as designed to limit the falls on the stock market -- you see these actions as designed to limit the falls on the stock market? guest: they have been very proactive on the margin side of things lending, reserve requirements. the next leg they have to get into is on the fiscal side of things. all the monetary stimulus liquidity is going into the bank accounts and the stock market. you need to get into the real economy. anna: asking on twitter, what effect this will have on other stock markets. if we saw any other market losing 2.8 trillion dollars in value we would be asking where is the fallout next. does that happen in china? guest: it just push

"faultlines": death on the bakken shale. only on al jazeera america. [ ♪♪ ] on"america tonight" - the weekend edition - sparking a high alert. the plane has to be ready in half an hour. >> it could be any one of them, it happens to be 912. >> the fire season and how bad will the season be, and whether the firefighters have the right tools to stop the blazers. >>> abbing accelerating addiction. >> is it scary for you, when you hear reports that they are cutting heroin with pento nil. >> it is scary, i grew to lo a lot of these people. >> sara hoy at ground zero of the opiate epidemic, and why as bad as it is, america's addiction problem may be getting worse. >>> thank you for joining us, i'm joie chen. we know the grip is powerful and becoming deadly. there are signs that heroin is reaching into new communities, getting more people hooked. "america tonight" has closely followed the nation's surge in opiate addiction, and now a new cvc report confirms what we have seen - an explosion of death due to heroin overdoses, earlier f

a major shareholder in shale industries merging shale with samsung gives him greater control of the entire group in particular, its crown jewel samsung electronics. >> vice chairman young has a very small equity in samsung electronics, however it would create favorable conditions for him to succeed. >> this is the packed press room where we await the results of this vote. a defeat would be a stunning reversal for the family conglomerate. in the end samsung's powers of persuasion, which have included home visits seeking powers of attorney through most shareholders fell into line. the brand worth about 20% have the economy and used to getting its way, this was an unusually tough fight. al jazeera seoul. >> evidence of the largest winged dinosaur ever found has been unearthed in china. scientists dug up the nearly complete fossil of a feathered dinosaur with wings. it was named after a farmer who found the remains. it lived around 125 million years ago. >> still to come, all the sport and find out whether all black captain was given the send off he deserves as he bids goodbye to christchurch.

you are collecting gas from the marcella and utica's shales.is the chance that alternative energy or nuclear will start to steal some of that demand from you? that is the way we try to do business at dominion, that forline is fully subscribed , four 20 year contracts. whatever is going on in other forms of energy, or shareholders are protected from whatever happens. alix: what is the likelihood that you might expand it? to expandare hoping that. it is easily expandable. right now it is scheduled to be a billion and a half cubic feet per day. it is easily expanded to two billion per day, with a little bit more compression. alix: the third part of your business has been a successful spinoff of your master limited partnership of october 2014. i was curious as to your strategy of doing this grade a lot of companies are doing the opposite and rolling back, buy ing back mlp's. wonderful company, very good assets, great management team. they are much more mature company. i do want to speak for them, but they appear to us that there are opportunities f

"faultlines": death on the bakken shale.y on al jazeera america. >>> with no let up in the west's fierce heatwave, forecasters warn the fire season not only started earlier, but is likely to see more blazes and last longer than more. california's fire agency responded to 350 new fires in the drought-stricken state. in the face of the challenge firefighters are looking skyward for help to tame the wild. there's doubt that it is a strategy which works. >> it's unreal. >> shock and awe. inside the cockpit of an air national guard c130. the ground warning sounds. the plane is flying low, and slow. at the aircraft flies head on into a plume of smoke, ready to unleash a cloud of flame retardants. the historic fire began in an unremarkable way. in august of 2013, near california's yosemite national park. the pilot was in the air that morning, on his way home no groveland california. >> i was at an event in lake tahu. i saw the fire from the air. 7 o'clock in the morning. it was small. >> but unpredictable. powerful winds. combined

"faultlines": death on the bakken shale. only on al jazeera america. >> announcer: this is techknow, a show about innovations that can change lives. this is a show about science by scientists. let's check out the team. dr shini somara is a mechanical engineer. onight "techknow" on the road in greenland. >> we are on our way to the air base. i'm nervous. >> we are on board for n.a.s.a.'s operation icebridge - flying over some of the largest ice sheets on the planet. >> i managed to get into the cockpit, which, for a mechanical engineer, is a dream come true. >> of the the view is amazing, but something a wrong. >> this gigantic, ancient ice sheet is melting. >> we explore what is happening in greenland and how soon it will effect us. >> marita davison socializes in evolution, cara santa maria is a scientist journalist and educato in microbiology, and i'm phil torres, i'm an ento meteorologists. that's the team, let's -- entomologist. that's the team - now let's do some science. 7 music ♪ ] >>> hey, whim to "techknow." i'm phi

"faultlines": death on the bakken shale.y on al jazeera america. >> you have to taste chocolate all day long. >> how one man's passion... >> you take a piece of chocolate and you break it and you listen. >> led to a lifelong obsession... >> i owe my life to chocolate. >> and a dark warning. >> the world will run out of chocolate by 2020. >> i lived that character. >> we will be able to see change. >>> every time i have done a story about peurto rico, i'm reminded how little people know about the place. how it came to be part of the united statesers how uncle sam dealt with the island, its economy and people. american citizens almost a century, porto reekons are treated as foreigners. mainland industries, agriculture, electronic and pharmaceutical got what they want outed of the island, but they remained poorer than the united states. if you are so inclined, you blame it on the people. the same that don't allow the democracy joined by the people in the united states. the same people considered expendable when the island indus

"faultlines": death on the bakken shale. only on al jazeera america.witter. [ ♪ music ♪ >>> >>> hey, guys, welcome back to "techknow." we are in the middle of shini's incredible journey over greenland. spectacular views so far, and now the sign. >> one of the main object tefs of the mission is to understand the behaviour of the ice that sits over greenland. there was an array of technology recording that data. we get close to it, taking a first-happened look. let's check it -- first-hand look. let's check it out. n.a.s.a.'s operation icebridge is an airborne issue mapping changes to the arctic and antarctic. greenland. >> here we have to make our own dinners, and after a few hours of flying you work up an appetite. not bad. there are few feature comforts in this p3 plane, but it's business as usual for the scientists that spend eight to nine hours a day, six days a week, in the air. operation icebridge began in 2009, after the satellite ice sat stopped functioning. with the next satellite ice sat ii not due until 2015, the airborne missions fill the ga

what's happening here in north dakota where advances in fracking have unlocked crude oil in the bakken shale formation in the western part of the state. north dakota is now producing more than a million barrels of oil a day. ten years ago there were fewer than 200 oil-producing wells in the bakken. now there are more than 8,000. >> they call it boomtown usa this is where all the money is. it's crazy the amount of money you can make here. >> this rapid pace of development and the flood of workers comi

"faultlines": death on the bakken shale.nly on al jazeera america. ♪ >> announcer: this is al jazeera. ♪ hello there and welcome to the al jazeera news hour, coming to you live from doha, coming up, greece stays in the euro, a deal is reached over a third greek bailout but at what cost? concern on the streets of athens, will the new deal mean more years of increased austerity. plus edging towards a decision and powers are closer to signing on the future of iran's

"faultlines": death on the bakken shale. only on al jazeera america. >> >>> tough talks ahead. eurozone finance minister due to resume talks in brussels to discuss a bail out for greece. >>> you're watching al jazeera, live from our headquarters in doha. also coming up held without charge. israel frees palestinian prison after a 55 day hunger strike. the u.n. says some of libya's warring factions agreed on a draft peace deal but the legally installed government was absent. thailand deports more than 100 uyghur muslims saying the group were on their way to fight against syria and iraq >>> well a planned meeting of all e.u. leaders on greece have been cancelled, and the eurozone finance minister are meeting a discuss the latest greek bailout proposals. athens has less than 24 hours to convince creditors that it can be trusted to enact forms. a package of reforms and austerity measures were put forth in a last ditch to stay in the eurozone. athens asked for $50 billion goouros. goouros. -- yourios. -- euros. finance minister are meeting. the new loan would be in addition to 240 bi

"faultlines": death on the bakken shale.y on al jazeera america. >>> you're watching "inside story". i'm ray suarez. when you saw pictures of a burping church on the news, in the days after the charleston church shooting that killed 9 people, and heard of several more, what was your reaction in the days that followed - i can't imagine why this is happening, or here we go again. arson and hate has been ruled out as causes in self of the buildings. several others are less clear. we are talking about black churches burning, and there's institutions on the programme in black communities across america. ministers are men and women of honour, churches are big civic players, and black opened and operated institutions, culturally independent. particularly social space. the reverend of the southern christian leadership conference and senior fellow at the xunty agenda -- community agenda, is still with me. is the church in black america the same institution it was 40, 50 years ago, are we seeing as we are in america at large a growing

has great demands via shale. russia has tremendous amounts. saudi has record levels as well. the world doesn't need the ex ra iranian oil. it will take a long while and investment. they have a floating storage between 25 million and 40 million barrels. >> obviously the iran deal is booing the confidence that the markets have. that in itself was coming on the heels of greece bailout deal announced earlier this week. that's certainly had a positive impact to say the least. no? >> sure. this is extraordinary. you wait for an international deal to be signed. you get two at once in 48 hours. very interesting. the greek deal is tenuous. this is a bailout process. there's a load of hoops the greek government need to go through. don't forget they voted over a week ago to turn down creditor terms. germany, imf, ebc got the terms harder than greeks said no to. he's got to sell it to his party and country in the next 48 hours. otherwise, the chain of events won't happen including the approvals are from parliament. that needs to go through in order for greeks to start getting money. they

yes, they are dangling live off the bridge coming between themselves and a shale oil ice breaker.ll tell you who wins this one went which especially womanhen we come back. >>> the plane first went missing and the latest debris to wash up onshore. staying in rhythm... it's how i try to live... how i stay active. so i need nutrition... that won't weigh me down. for the nutrition you want without the calories you don't... introducing boost® 100 calories. each delicious snack size drink gives you... 25 vitamins and minerals and 10 grams of protein. so it's big in nutrition and small in calories. i'm not about to swim in the slow lane. get a coupon for a free sample at boost.com 73% of americans try... ...to cook healthy meals. yet up to 90% fall short in getting key nutrients from food alone. let's do more... ...add one a day men's 50+. complete with key nutrients we may need. plus it helps support healthy blood pressure with vitamin d and magnesium. what do a nascar® driver... a comedian... and a professional golfer have in common? we talked to our doctors about treatment with xarelt

it is still shale oil production where i was talking to a guy from north dakota yesterday.amily runs a farm with wells on it. what they're doing out there is they're drilling down to the last 200 feet, capping it and just waiting for a price hike in crude oil before they'll go drill the next 200 feet. tap the oil and gushers will come out. the point being, there's such pent-up supply that it will be a long time before we see energy prices going higher and without that you can't see the stocks going higher. >> you say a long time before you see it. if your time horizon is three to five years, is either one of these names investable? >> yes. definitively yes, because you're talking about the two names that are the biggest in the space. so as this progress goes through and companies will go bankrupt as time goes on, these guys will be the ones who have the scale and the financial resources to survive and then thrive on the debris that's left over from bankruptcies. >> but in the short term, hope is not an investment strategy. you can't hope -- >> no, that's what i'm saying. >>

of whiting petroleum, long thought to be an ideal takeover target because of the excellent box in shales and they wanted to buy the long-shot kodiak oil and gas for $3.8 billion a stock to make it the largest producer in the shale play. at the time that was rocking. if you get a shot of oil you can be sure of one thing. the oil market was about to get stronger and not weaker and it was in retrospect a poaching its high for the era and subsequently the whiting stock plunged with the plunge of oil and the terms of the deal didn't chaining and whiting bought doughed yack for $1.1 billion and it also assumed kodiak debt and it caused whiting to have to issue 35 million shares of stock at $30 a share on march 24th, in a desperate gamut for liquidity. on that day, west texas intermeet atcrude had $47 a barrel. 47. keep that number in mind and keep today's closer price of just north of $50. whiting's desperate stock sale turned into a hugely successful offering as the stock quickly ran to $37 a month later as oil hit 59 capping off the big of the monthly gain in secures and that seemed to mark

what's happening here in north dakota where advances in fracking have unlocked crude oil in the bakken shale formation in the western part of the state. north dakota is now producing more than a million barrels of oil a day. ten years ago there were fewer than 200 oil-producing wells in the bakken. now there are more than 8,000. >> they call it boomtown usa this is where all the money is. it's crazy the amount of money you can make here. >> this rapid pace of development and the flood of workers coming here, has given north dakota the lowest unemployment rate in the us. but it's also raised questions over the dangers of working in the oil fields. >> the more jobs you complete, the more money you make. the faster you complete them

"faultlines": death on the bakken shale. only on al jazeera america. i'm ali velshi, target from tehran, tonight, groundhog day all over again with less than 24 hours oto go with another final nuclear deadline. >> the free world cannot allow iran to have a nuclear weapon. >> how much could the states trust iran? wildly accusations against united states. >> this deal won't change iran for better. >> one of the most difficult and long lasting national security problems we've faced in a very long time. >> i'm ali velshi from tehran. less than 24 hours to go until what could be that final zeal. i'm in tehran david schuster is in our target studios in new york. >> ali, in washington, president obama went to a big deal going to the pentagon with ash carter. in case a deal is not worked out. a lot of anticipation in washington, a lot of anticipation where you are in tehran. tell us what you're seeing. >> david folks are still optimistic but many have seen this before, these deadlines come and go and the impression that most people here have is that it's not i