there is a website "change.org" and misinformed about shell oil and it's connection to this program and maybe it's not completely misinformed but certainly under lying there is no mention of clean power and how we have no currently and relying completely i will say hard energy sources and fossil fuels and that sort of thing, and even in my own personal campaign there was a hit piece that came out about how i was in bed with shell oil and nigeria and active vifts there and we know that is true and disappearing and what not and i don't think we should under estimate the type of political quagmire that this program will find itself in and the attacks are unwarranted and misinforming and certainly i'm not suggesting they're all coming from pg&e, but certainly there is a motivation to maintain the monopoly they have held in the city around providing energy, so with that being said i just wanted to close my comments and i am glad next week i think we're at lafco hearing the task force recommendations. that is critical and sometimes we pass the policies and our actions never conform with the p

lost very fast with a silencer put up in russia is well guess who launched the project to develop shell oil and even build the reserves before i twice as large as those of conventional oil the price of the extraction is many times higher in the global energy map is changing with potentially far reaching consequences and you monkeys and tree and profoundly transform the world geopolitics that is your national on the money. ok and now we're also joined by dmitri lucas of he's head of oil and gas at v.p. b. capital and simon fantom fletcher portfolio asset manager with renaissance asset managers simon if i can go to you right now what is the main driver of the global energy market right now and think in terms of russia its role well i mean the engine market as i was just told in the report is shifting fundamentally more towards asia as a commodity vacuum. for russia's in russia's benefit in many many ways obviously the vast majority of russian energy exports are going to europe europe is in a substantial recession possibly going to go on for many years asia will be the next vacuum for russian

s looking for and we didn't get the growth in shell oil that's expected then maybe we might run into it but but frankly there's so many ifs and buts there i wouldn't put any money on peak oil. relation at all because the price rises more oil becomes commercial to develop you know and we have the arctic you know lots of unconventional oil it's change gears gentlemen the cycle. some of global issues here let's go to the u.s. fiscal cliff jayco yeah i think we're probably going to go over it i think that you know we got quite entrenched positions between the house republicans and the white house over raising taxes in particular will go over the cliff but then probably they'll be a deal in the first quarter of some sort you know but the white there's a very wide range of uncertainty there are based cases that will have a one and a half percent of g.d.p. tightening fiscal policy rather than the five percent that's written into the current budget arithmetic so that's going to be enough to keep growth in the u.s. just positive whereas if we have the full five percent we're going to full blow

here in the shell oil built in towns like what's that city and williston job's go baking. mcdonalds and even a local casino are among the many telling for work it's. for those looted by the last of the oil boom finding somewhere to sleep can be hard of them fun job the lucky ones end up here in high school erected prefab man camps a bunk and food who are in a shared dorm room costs as much as one hundred forty dollars a month. no one's complaining. i'm a fracture i work for fracking through always do basically just pop water gel chemicals and sand down a hole and it helps well just oil more efficiently last year i grossed eighty five thousand dollars and then this year said yes a lot more. others not so lucky sleep with i can come pox overflowing with mobile homes and caravans truck drivers sleep in the truck cabs if i sleep much at all. you won't be surprised either that just like suburban south like texas not everyone's happy. you know us when are one day thinking about here and found this open spot that is to be frozen over. and then we discovered all this water bubbling

shell oil shale gas which we all know and i write about this for a long time but it is good with that it is now growing though that it is real numbers the the u.s. for example has added over a million and a half barrels of new oil in the last couple of years so it's now really happening but if the idea is assuming that all that extra oil demand for oil production sorry is going to be absorbed into asia they're essentially expecting to china india middle east will grow their annual oil imports by more than a million barrels a day you know almost forever but i think that's a huge assumption to make because you know if it for example if china were to start developing its own shale oil or gas resources then it would wouldn't need that imports if we were to get any substitution towards other alternative energy cetera so i think it's a huge risk to rely on this you know never ending growth in demand for energy from china and when you think about that i mean is yeah well we it's a broad picture here but there's a lot of ifs and buts yeah and you know we're in the business of doing forecasts

they're forecasting that demand will go down and that production will rise now this is attributed to shell oil and gas in the. some like jamie diamond have called this a gift from the gods others consider it a commercial failure and are concerned about the environmental impact so my question is what is your view on particularly do you see the u.s. becoming energy self-sufficient as a result of it and if so in what timeframe first of all no they will not be energy self-sufficient and the time. given if you go back through history the reports there is many many years just like america was going to be a major net importer of l n g energy just ten years ago so the game changed that said there is a lot of potential for the shale gas but you see that it all comes down to costs at what price there's the block in the coal now so saudi dakoda what price is that bach and will it become you know cost effective but what price is the eagle ford you know will work for the americans and the reality is it does not work at fifty dollar will if they want to use the unconventional oil you're going to need plus e

joining us on the phone line, the former president and ceo of shell oil. welcome. good to have you on. >> thanks for having me. >> if you're the ceo running a major oil company today with stations in this area what are you thinking, what are you doing? >> first of all, what is the condition on the ground in materials of getting product from storage to retail? >> it's not good. >> is there electricity at the terminal, damage at the terminals. can we fill the tank truck, get the product to the retailers. from a public policy standpoint as i did after katrina and other storms when i was active, i said to governors, please, please, take the burden off the consumer and retailer, put in a short-term rationing system. go to odd even purchases. i know it inconvene enss people, but limit the gallon people can purchase. do this for just a period of time it takes to get theissue. people said well get a generator at the gas station. well, a generator at the gas station would have to be very large and wired in advance with all the safety precautions and so forth. but if the tel

let's welcome the founder of citizens for affordable energy, former president of shell oil.od to have you on again. i was listening to you on squawk box saying the first thing they have to go to is odd-even plates in new jersey. it was like chris christie was listening. within 24 hours, maybe within 12 it's what they did. what should be done right now especially as we watch this storm approach again? >> the more you can harden your assets whether it's refineries, marine terminals, pipelines, ports, hardening assets has been learned on the gulf coast. >> what does that mean? >> hardening your assets means, for example, getting the electrical system components off the ground, off the flat surface of the refinery, put them up 10, 12 feet to avoid flooding. yes, harder maintenance but you don't have to worry about flooding. knocking out whether it's trans formers, motors, whatever that are electrically driven. also putting in windshields. they will try to block the wind to prevent wind damage in vulnerable spots of the refinery. this is something they have been doing for years i

oil seeps out of leaky pipes day and night -- nobody here is interested in international standards. corruption and ignorance have led to unparalleled destruction to the environment in the niger delta. for decades shell pumped oil here. the company is accused of not doing enough to stop the leaks. the situation in the fishing village of bodo is especially dramatic. several oil disasters have poisoned the water, and destroyed the livelihood of fishermen like akare linus. >> i'm very angry at the people responsible for all this here. there used to be enough fish for everyone. then, because of the oil, all my nets were damaged. besides, i can't use my boat anymore because of the oil pollution. but what infuriates me is that there's hardly anything to catch here anymore, anyway. almost all the fish are dead. >> activist kentebe ebiaridor supports the villagers in their fight for compensation. he says the greatest scandal is that the people are still being left to deal with the oil pollution on their own. >> politicians have promised a better life for these people. politicians have promised that that they are going to improve the standard of living for the people. they have also promised that they're goin

>>orgn imports are 3 accordin theae by 2017, u.il ori aria ne mho f erain oil and a shell sesvewi beesnsleorhe rnou. -- oil a gre poib. energy is in mndtrl tis llal sghy. it i aifre sryn eae cles wl meand the m sharply over the xtece. the international agency -- energeyelvemail be spped to asia in theute dillchgihe map o global energy flows. >> and no major plunge for the daxod. we on this report fmhe anurstk chgen at movintoy. >> to 0.7%, the gmastk de ltn e pvis week, so maybe it is already good ns tt d n inevitably plunged further on e rstrindaf is ek political issues like greec eisl ifn the united states, kpi iesrs xis darngeason is about to come to an e i gean so far, very few mag t suriitthr earnings and many doubt whetherheutok mi in will manage to change the trend. l'av aloser loo at some of the market numbers. thax ending justlitlup 78. euroox0 down. theowonp a bit to 1235 theus adg a $1.2710. >> we seem to having se chnical dficulties. l's tn to some japanese stocks. they have taken de closing almost one o dn ony. the reason come a week gdp numbers showing the first contraction in th

oil company shell has confirmed, for instance, that the storm triggered an oil spill on a new jersey refinery, which is partly owned by shell, off the coast of new york city. there was at least one piece of good news for new yorkers today. >> some of new york's vital subway lines are up and running, like here below times square, but many subway tunnels are still flooded, and it is still not clear when full-service will return. especially hard hit, the brooklyn and manhattan connections and the financial district. but normal life is slowly starting to return to new york. >> i walked about 5 miles in total yesterday, so i am happy to have subways back for the time being. >> i walked to work yesterday. i walked about 70 blocks. it was an hour and a half. it is definitely nice to be back on the subway. >> one small consolation -- the subways are free of charge until friday. around 6 million people on the east coast are still without power. many of the overground electricity lines that make up the backbone of the power grid were damaged by high winds. u.s. president barack obama got back t

my book cites testimony as shell oil company marvin odum to the deep water horizon commission that was investigating the vp gulf oil spill. he said quote, the industry needs a robust expertly staffed and well-funded regulator that can keep pace with an augment industry's technical expertise. a confident and nimble regulator will be able to establish and enforce the rules of the road to ensure safety without stifling innovation and commercial success. rex tillerson, chairman and ceo of exxonmobil told the deep water horizon commission much the same thing. odum's and tillerson's applied to the financial sector as well. to improve both are public and private institutions, we need to have higher-quality supervision aimed at improving decision-making in the industry and thus greater economic efficiency. regulators are not always right. rather we need regulators that are capable of offering high-quality feedback to our largest financial institutions so that her constructive tensions with their regulators, firms make improve decisions that take account of long-term sustainability and not mere

reporter: john hofmeister, founder and ceo of citizens for affordable energy and former president of shell oil. he says electricity issues are also squeezing the delivery for fuel to stations that are open. 13 of the region's 34 fuel terminals are without power. >> you don't have electricity at the depots, which fill the delivery trucks, or if you don't have electricity at a retail station, then you really can't sell gasoline to the public. >> i need more gas in my can here. >> reporter: jimmy and barbara dwyer need gas to run their generator at home. how much of a life line is this gasoline for you now? >> when you have no power and it's getting really cold now, you need power, right? we have no lights. we have no heat. >> reporter: that desperation is why there's so many panic at the pump. >> this is like pre-apocalyptic scenarios, you know, this gas, it's as important as food and water. it's a dog fight out here. >> reporter: so, why do they have gas here when other people are so short? the short answer is power. gas stations have power. people around here for the most part have power so th

reporter: john hofmeister is founder and ceo of citizens for affordable energy and former president of shell oil. squeezing the delivery for fuel to stations that are open. 13 of the region's 32 fuel terminals are without power. >> you don't have electricity at the depots, which fill the delivery trucks or if you don't have electricity at a retail station, you can't really sell gas to the public. >> reporter: jimmie and barbara dwyer drove 30 miles to find gas in manahawkin, new jersey, to run their generator at home. how much of a lifeline is it for you? >> when you have no power and it's getting really cold now, you need power. we have no lights, no heat. >> reporter: that's why there is so much panic buying at the pump. >> this is like preapocalyptic, you know. >> reporter: why do they have gas here when other people are so short? the short answer is power. gas stations have power and people around here for the most part have power. they don't have those generator issues. however, take a look at what's going on in secaucus, new jersey, people are loined up for miles waiting to get gas. if any

new methods for extracting oil and a shell gas reserves will be responsible for the turnaround. -- oil and shale gas are r esponsible. energy is in many industrial nations will fall slightly. it is a different story in china, india, and the middle east were declines will move sharply over the next decade. the international agency -- energy agency believes many will be shipped to asia in the future radically changing the map of global energy flows. >> and no major plunge for the dax today. we on this report from the frankfurt stock exchange on what is moving today. >> to 0.7%, the german stock index, lost in the previous week, so maybe it is already good news that it did not inevitably plunged further on the first trading day of this week. political issues like greece, the fiscal cliff in the united states, keeping investors anxious and earnings season is about to come to an end in germany. so far, very few managed to surprise with their earnings and many doubt whether the outlooks coming in will manage to change the trend. >> let's have a closer look at some of the market numbers. the

this country learning something rather than perpetuating -- i did meet soldiers who said they saw shell oil trucks crossing the front lines into north vietnam. i don't know whether you came across any ties to the oil industry. as part of this. thank you. >> in terms of agent orange, i didn't actually run across much of that in terms of what i saw of the documents in the united states. it's one of these issues -- i mean, if i were alive in vietnam, i would have opposed american intervention. i think the situation over there was already complicated, and what u.s. intervention ended up doing was making the war much bloodier than it had to be. tame i feel extremely fortunate and owe a lot to the men who served, both in the united states and in the republic of vietnam. so i have this very difficult -- i find myself in a very difficult position. in terms of your question about

the former president of shell oil. >> they can take deliveries but probably won't because everythingt a gas station is monitored electronically. in order to keep the inventory you need electronic measuring devices. in toward pump the gas you need electricity. >> reporter: crews are racing to get crude refineries back online. and ships can carry fuel between u.s. ports. president will consider tapping the nation's strategic petroleum reserve if supply issues continue. to give you a sense of just how crazy some of this panic at the pump has gotten people were trying to sell gasoline on craig's list for $15 a gallon. anthony, no word yet as to whether anyone actually bought that. >> ben, i was desperate enough yesterday. i might have bought it. ben tracey in new jersey thanks. >>> now to a major controversy that erupted here in new york in the aftermath of hurricane sandy, even as this battered city struggled back to i feet the organizers of the new york city marathon remained determined to go ahead with tomorrow's race. but it's not going to happen after all. michelle miller is on the

john hofmeister is the former ceo of shell oil and founder of -- and founder and ceo of citizens forfmeister, good morning, good to see you. >> good morning, thank you. >> so down 21 cents over the last couple of weeks. why? >> well, generally this time of year there's less driving overall, and so we have a seasonal decline in price which is normal, but in addition the economy is really quite weak, and we're down about 10% demand year over year which has affected the crude price, and because the prospects of growth as the business community and the society in general don't reflect much new demand coming, the crude price is down so the gas price is down. >> i think a lot of people look and think, wait a second, after hurricane katrina the price of gas went up, but that's because that storm struck in a different region of the country. >> well, yes indeed. 25% of the nation's refining capacity is on the gulf coast. katrina was a category 5 storm which meant refineries near the coast took a lot more wind, a lot more water, although sandy was properly named a super storm, it didn't have t

. $50,000 is in royal dutch shell, an oil company that stopped buying from iran this year after the sanctionstened. a spokeswoman for rice says she has complied with all financial disloeschh disclosure retirements and worked tough to iran. >>> george h.w. bush's doctor says he's getting better fast and could be released from the hospital this weekend. the 88-year-old was taken in with bronchitis and is recovering from a lingering cough. his doctor also says he's in great spirits. >>> hillary clinton says the government is still figuring out how to handle washington state and colorado legalizing marijuana. >> i respect those in the region who believe strongly that that would end the problem. i am not convinced of that, just speaking personally. i think when you've got ruthless, vicious people who have made money one way, if it's somehow blocked, they'll figure out another way. they'll do kidnapping. they'll do extortion. >>> not entirely surprising, a bunch of lawmakers are leaving congress to be lobbyist. heath schuler will work for duke energy, jason altmire will become part of florida blue,

guest: from the huge explosion and shell oil drilling, mostly. this is the sibling of gas drilling. you drill horizontal, fracture the welcome and free up a lot of resources that are trapped in the shale rock. host: what has happened with technology and where is it happening in the country? guest: north dakota is one of the biggest places. huge explosion and output there. you also see it in other places. we will see more and ohio, and some of the areas of texas as well. host: what does this mean for folks in terms of pocketbooks? guest: if you're just buying gasoline, it might not mean much in terms of your pocketbook. any oil will help moderate prices. prices are still high. the iaea is forecasting continued high prices. if you're just a motorist, it might not make that much difference. but for the country, is this a step afford economically. host: some of the details from the international agency, world energy alec, u.s. oil production, the u.s. will pump 11.1 million barrels a day by 2020. quite a job. 500,000 girls hired in saudi arabia. u.s. oil imports will drop from 10 millio

john hofmeister is former shell oil ceo and ceo of citizens for affordable energy.this is a shocking situation if you're not in the middle of it, haven't been in the situation where you don't have enough gas to get to work you don't realize how bad things are. how long do you think this continues and what exactly is happening? >> becky it happens after every hurricane whether on the gulf coast, florida and unfortunately in the metropolitan area in new york. the supply siders are doing everything they know how to do. so you broaden utility crews from across the country, trying to get electricity restored, the oil companies are doing everything they can do within the limits of safety, and regulation to get supply out to the public. we also have to do something different on the demand management side. what's happening is that the demand side is descending into chaos and you see it in the gas lines. this could get to gunfire if it continues in the way it's going now. my recommendation is for the governors of new jersey, new york and connecticut, come together, go to an

but we should not forget that shell gas associated with shale oil which is another topic and actually exists when it's combined it's created such a situation like we see in the u.s. . today but you know nobody could stop technology called progress but. shale model of us could be. could be developed in the europe or even in china or in russia because russia also holder of substantial reserves. resources not reserve because the quality. the resources to reserves it took a lot of time and money but i believe for the current. century we will be busy with our traditional reserves maybe in the more difficult areas like arctic shale or eastern siberia and far east like china and the project in which we can meet it will raise the investment decision and construction of a new pipeline. about us for us folk so i believe i do live over to be in good in business like usual and what will work for a regulator has just lost the work since you've mentioned the arc six. there is an opinion that that the shell gas all that story of shale gas is closely connected to stockman out there and that the big b

it's for a foreign company transcanada who is building the pipeline and the oil companies invested in it, exxon shellto get their oil to the open market. >> do you get discouraged seeing president obama engages in that same 19 sense when he knows he approved the thing that is going to send oil to other countries not our country. romney loves it, all the washington loves it. how in the world are we going to fight back when it seems they've got all the politicians. >> we've got to get rid of citizens united states. that ruling was just the most immoral unethical thing i mean it's shocking, frankly, you know that we're allowed to put this much money into the pockets of politicians. i mean, you look at how many politicians are on the payroll of the koch brothers, of the oil companies. it's just shocking, and $6 billion by next week by the time we go into the polls into political campaigns. it's just hideous. >> cenk: over the last two days on this show. james-sewn, one of the leading scientists in the world dennis kucinich and yourself talking about the number one problem is money in politics. we can't s

the couple owns stock in two overseas conglomerate, royal dutch shell and the italian oil company eni shall until recently did business with iran. spokeswoman for ambassador rice said she fully complied with the disclosure rules and adding with respect iran ambassador rice worked to impose the toughest u.n. sanctions regime ever on iran for the continueed failure to live up to the obligation. government watchdog group who has reviewed rice's financials sethe records have been out there for a year but only this week got a second look. >> because she is such a controversial nominee, they tend to get magnified. every cabinet secretary or appointee or potential appointee, people who go through the past and the history and ask questions. >> monday the head of u.s. africa command is scheduled to speak at george washington university at the rising threat of terrorism. they will face questions about the growing presence of al-qaeda as well as the military could have done more in benghazi attack on 9/11. >> bret: his name came up a lot. thank you. what is the best country in the world to be f

good and big earnings day for oil giants giants. shell sees a fall and exxonmobile due to report before the opening bell. >> growth recovery may be near. official october pmi bouncing back into expansion territory. >>> we're under way just one hour and an awful lot to to get to. >> new york city still struggling to right itself after monday's super storm. one stap he have the big apple will return, the mta will resume partial subway service on 14 lines. la guardia airport will also reopen at 7:00 a.m. with limited service. amtrak says it will try to restore service to penn station come friday. >> homes in bay ahead are seriously damaged or destroyed. president obama got a firsthand look with governor chris christie yesterday afternoon. >> and danielle lee joins us, she's in the town of toms river. and we know this is one of the hartest hit areas. with you tell us how extensive the damage is? >> all of those popular summertime vacation communities are cut off from society. and there are stand reminders, bits of people's lives ripped to shr

like goldman sachs and morgan stanley and barclays have as much to do with the price of oil going up as exxon or shell? >> oh, absolutely, yes. i tease people sometimes that-- you know, people say, "well, who's the largest oil company in america?" and they'll always say, "well, exxon mobil or chevron or b.p." but i'll say, "no, morgan stanley." [ticking] >> coming up... >> is there price manipulation going on? >> i-i can't say, and the reason i can't say is because nobody knows. our federal regulators don't have access to the data. they don't know who holds what positions. >> why don't they know? >> why don't they know? >> yeah. >> because federal law doesn't give them the jurisdiction to find out. >> that story and more when 60 minutes on cnbc returns. [ticking] well, if it isn't mr. margin. mr. margin? don't be modest, bob. you found a better way to pack a bowling ball. that was ups. and who called ups? you did, bob. i just asked a question. it takes a long time to pack a bowling ball. the last guy pitched more ball packers. but you... you consulted ups. you found a better way. that's logistics. tha

oil companies. the most important are elf-gabon and shell-gabon.anies play a large role in the country's financial life by contributing to the state budget and by investing in numerous sectors of the economy. some say that elf-gabon is a state within the state. translator: the city of port gentil didn't exist 80 years ago, but today, it is second most important city in the country. it is oil city. the majority of the inhabited areas consist ofousing constructed by the oilompanies. narrator: residential housing is reserved for executives, of whom most are expatriates. poorer accommodations are for workers. today port gentil has 80,000 inhabitants, but population growth is stagnant. the city suffers mainly from its isolation. there is no road linking port gentil and libreville. the only means of transportation are by air and sea. libreville, the capital of the country, has grown since the oil boom of the '70s. economic, political and administrative services are concentrated here. with 350,000 inhabitants, it has one-third of the population of gabon.

fedex office. >>> the resurgence of american oil production. royal dutch shelln shocks to the crude market. >>> plus the oil boom leaving one north dakota town short of housing and kkr is stepping in to pick upt slack. we'll talk to kkr's real estate chief and the head of economic development for williston, north dakota. >> the third hour of "squawk box" begins right now. ♪ well i walk back down, no i walk back down ♪ >>> welcome back to "squawk box" here on cnbc. first in business worldwide, we are rising above and not backing down. i'm becky quick along with andrew ross sorkin and steve liesman. joe is out sick today but we're hearing he is feeling a little better, we think he has a 24-hour bug. we hope he and blake are feeling better. we also have a full set, george p. bush, son of former florida governor jeb bush and jared bernstein, foreign economic policy adviser to vice president biden and senior fellow at the center on budget and policy priorities and wilbur ross is joining in with us, too, he's sticking around because we begged him too. we'll have more

. >> are the oil companies doing enough, the exxonmobil, the shells, the hesses? everybody forgets many of these stations are independently owned and operated. a big oil doing enough? >> 98% of all retag locations are independently owned and operated. major oil products are doing everything they can to get product out. they are trying to get the refiners reopened. a lot of the majors own a lot of the terminal assets. they're trying to get those back to assets. it does no good for anybody in the supply chain to be doing anything other than everything they can to get product to the market. we are trying to the retail and supplier side to do everything we can. >> will this change the way service stations around the country dove business, the way they prepare for a catastrophe. >> every time there's a catastrophe, there's always a re-revaluation of our operating structures. retailers are operating as best they can to get product to the customers and they will take a look and see what could we have done differently. is there anything we could have done in anticipation o

oil down there. you have to call in a halliburton. we don't know if that's going to go to shell. is going to need an oil service company to open up the federal lands to find out if there's oil. >> i want to zero in on defense because this can go either way with defense, i think you've got in mitt romney, someone who does not want to cut defense spending. >> right. >> in the president, we know that he will cut defense spending as part of the fiscal cliff, as part of the budget. >> and that's why i was looking at jim cramer on twitter because i love to see what followers, a lot of smart people. someone was saying why don't you push hii because in newport news, they make the arly burk carriers -- destroyers. that's good business. it has no yield. i so fear the fiscal clear and they won't do anything and we know how we feel about the fiscal cliff, lockheed martin which does the ships, fast little ships, because it has that 4.8% yield and i am so so wary of recommending a stock if obama wins and says let's let this se question trace happen, that huntington engle will go down a lot. >>

for the corporate death sentences the big five oil companies for example conoco phillips chevron exxon mobil royal dutch shell and b.p. dumped a billion pounds of carbon pollution into our atmosphere every day fueling asthma cancer epidemics and local communities as well as global warming but they don't have to pay for those externalities caused by their pollution leave the taxpayers pay for the extra burden on our health care system just like we are not the oil companies have to pay for our military machine that keeps the oil lanes open so these companies can make billions to even get cheap gasoline out all of us now no matter how you slice it these oil companies especially b.p. are not operating in the public interest they need to be put down they've broken their contract with we the people and unless we want to continue to see smoldering oil rigs just off our coast and massive oil slicks in our waters and we must bring back the corporate death. and that's the way it is tonight friday nov sixteenth two thousand and twelve. for more information on any of the stories we covered visit our website to. free spee

the oily seeds with thin shells that grow on the ground and are a source of vegetable oil.hanks, peanuts. >>> we are back. let's find out if we got anything wrong so far. for that we go to andy levy. hi, andy. >> how are you? >> doing great. >> i'm a little achy. >> achy breaky? >> i think i am getting sick. >> i think about my bus. >> it is so much better now. >> why don't you hop in and go for a ride? >> are you not uh you lo -- not allowed to say that to kids anymore. greg you talked about the liberal guy quoted in the story. he says he writes erotic nonfiction and you asked what that is. that's penthouse forum, right? >> basically. basically he is writing about what he does. >> basically he has a lot of days where he can't believe smpped has been to him. >> and it usually washes a car with a girl wearing cutoffs. >> it begins and ends with getting the pizza. >> it begins and ends with him ordering a pizza and going to the hospital and have cheese. >> it begins with him ordering the pizza and ends with him eating the pizza. >> anybody else want to chime in ? there are a

first, bp has agreed to shell out a record settlement in connection with the historic oil spill in the gulf of mexico. now two of its workers face manslaughter charges. bp now admits, we lied to you again and again ♪ [ male announcer ] it started long ago. the joy of giving something everything you've got. it takes passion. and it's not letting up anytime soon. at unitedhealthcare insurance company, we understand that commitment. and always have. so does aarp, an organization serving the needs of americans 50 and over for generations. so it's no surprise millions have chosen an aarp medicare supplement insurance plan, insured by unitedhealthcare insurance company. like all standardized medicare supplement plans, they help cover some of the expenses medicare doesn't pay. and save you up to thousands in out-of-pocket costs. to find out more, request your free decision guide. call or go online today. after all, when you're going the distance, it's nice to have the experience and commitment to go along with you. keep dreaming. keep doing. go long. >> shep: breaking news now on fox news cha

the estimate of how many more barrels of oil are buried deeper underground is staggering. listen to shella chief clive mather. >> we know there is much, much more there. the total estimates could be 2 trillion or even higher. >> 2 trillion? >> 2 trillion. >> that's the number with a "t." >> that's the number with a "t." this is a very, very big resource. >> very big? that's eight times the amount of reserves in saudi arabia. the oil sands are buried under forests in alberta the size of florida. the oil here doesn't come gushing out of the sand the way it does in the middle east. the oil is in the sand. it has to be dug up and processed. >> this mine in general will be in operation for about 25 years. >> rick george, the colorado-born c.e.o. of suncor energy, took us into his strip mine for a tour. >> so, bob, this is what the oil sands tar looks like. it's a very rich, very pliable kind of a soil. >> now, when i squeeze it, why doesn't oil come out? >> well, because it's not warm enough. if you add this to hot water, you'll start the separation process, and you'll see the oil come to the

shell, bp, chevron all firming up a little bit this morning. exxon, the world's biggest oil company, down 1.2%. the status quo means fairly muted reactions as far as individual stocks and sectors that might have been impacted. >>> the race for the white house wasn't the only major contest as control of congress was also up for grabs. democrats held on to the senate, picking up two additional seats in massachusetts. that's elizabeth warren, and in indiana. congress remains divided as republicans maintain their control over house of representatives. and there are also some historic state ballots cast. maine and maryland became the first states to approve same-sex marriage by a popular vote, while washington state and colorado legalized recreational use of marijuana. i'm trying to resist comment on that one, because it will only get me into trouble. >> maybe it will turn into amsterdam. >> this is going to spur the next tea party renaissance, which is an issue we're going to discuss. >> the next renaissance. >> all right. >> we just lost the election. >> i mean the first time a

oil by 2035. in the middle east, syria's civil war has now touched israel. for the second straight day, a shell from syria landed in israeli territory. today an israeli tank destroyed a syrian armored vehicle. israel is just the latest neighbor pulled into the conflict. turkey has returned fire repeatedly sincereian shells first landed there in october. turkey, lebanon, jordan, and iraq now house more than 400,000 syrian refugees. it was 19 monthsing that a protest movement rose up to overthrow the dictatorship in syria, but there is no end in sight. lance armstrong has resigned from the board of his cancer charity. two weeks after sandy, why are so many people still in the dark? and we'll show you the jewels recovered from the "titanic" when the "cbs evening news" continues. you spend weeks planning it.] you spend all day cooking it. so why spend even a moment considering any broth but swanson? the broth cooks trust most to make the meal folks spend all year waiting for. in stuffing and more, the secret is swanson. if you're a man with low testosterone, you should know that axiron is here. the

government for its massive oil spill in the gulf of mexico back in april of 2010. bp agreed to shell out $4.5 billion will plowed guilty to 11 felony counts related to the deaths of nearly a dozen workers. two bp workers are also facing manslaughter charges. >> today's resolutions does not, does not mark the end of our efforts. in fact, our criminal investigation remains ongoing. >> reporter: bp releasing a statement saying we believe this resolution is in the best interest of bp and the shareholders. adding that it removes two significant legal risks and allows us to vigorously defend the company against remaining civil claims. the deepwater horizon rig exploded and sank 50 miles off of the coast of louisia killing 11 workers. an estimated 206 million gallons of crowd gushed from the ruptured well. the fill pill con-- spill contaminated beaches in four states, killed wildlife and closed down huge areas of the gulf to commercial fishing and tourism for many months on end. >> and about $2.4 billion will be dedicated to environmental restoration, preservation, and conservation efforts

government for its massive oil spill in the gulf of mexico back in april, 2010. bp agrees to shell out $4.5 billion will plead guilty to 11 felony counts related to the deaths of nearly a dozen workers during the incident. two bp workers are also facing manslaughter charges. >> today's resolution does not, does not mark the end of our efforts and, in fact, our criminal investigation remains ongoing. >> reporter: bp releasing a statement on the settlement saying, "we believe this resolution is in the best interest of bp and its shareholders. it removes two significant legal risks and allows us to vigorously defend the company against the remaining civil claims." the deepwater horizon rig exploded and sank 50 miles off the coast of louisiana killing 11 workers. an estimated 206 million gallons of crude gushed from the ruptured well on the sea floor. spill contaminated coastal beaches in four states, killed wildlife and closed down huge areas of the gulf for many months on end to fishing and tourism. >> about $2.4 billion of the criminal recovery funds will be dedicated to environment