and so, you know just like spr why are we, going down on spr when we've got, not really an energy itge credit card bill take out a loan to pay it off the doesn't seem like we are you know we are putting our resources in not very productive places, and that is not going to be good for long-term economic growth. you know. the huge spending how it is going to probably cost a lot more than we thought we know going to cost more than we thought. the the production credits that we're finding out on batteries, wind solar a lot more expensive than we thought. and, i know getting adults in room like representative said would be great because when pieces of legislation were written what we're so what we need now is for the treasury department to do its job and write out the, you know, write out the rules and the guidelines to really put some responsible guardrails on how these subsidies are going to be coaled out. maria: yeah. i mean, liz, is there any way at all that we see an inflation rate of 2% the year? i mean, the fed's target seems way optimistic. these numbers are still highly elevated.

we have a a mixed history with e spr.ortunately some presidents have usedth it for purely political price control rate limited by my count twice. we fed no kidding emergency releases and i would again say the administration probably took the right decision initially because we thought in march 2022 the i ae said we will lose 3 million barrels a day russian supply. again that wolf did not come in the village. we should suspend the sale of we did not. they could for the question. >> ideal backs but the gentleman from texas yields. the chairir recognizes the gentleman from texas come ms. fletcher. >> thank you, mr. chairman. i welcome our new members and congratulating chairwoman mcmorris rodgers on her historic chairmanship. and thank her wooden serving it today. it has been a long day but i have been here and appreciate your testimony. as we've heard throughout the day our country leads in energy production and innovation. we believe in these areas because of the work that is done in my district and trendy as in houston. w

lows of the day but still under pressure here and thanks in part to this $26 million sale from the sprthe administration now, it might not seem like that much on the face of it remember u.s. demand is about 19 million barrels per day. but when looked at in the context of russia cutting output by 500,000 barrels per day beginning in march the spr release is 26 million barrel sale will actually make up 52 days of that lost supply so we are seeing some downward pressure on oil today because of that these barrels won't hit the market until between april and june so some of the price activity is further out in terms of oil contracts and we're p seeing it necessarily today but the market right now is still in contango for wti. it is seen as oversupplied and it really feels like there's no longer a catalyst that could come in and change the narrative. of course famous last words. >> people are scratching their heads a little bit saying why the sales now. you know >> it does seem like it's part of a program that was mandated from back in 2015. we knew this was coming at some point. but the adm

it does not happen we will drain that spr a lot of buying that has to happen to get that refilled. natural gas is still below $2.50 a unit that is with freeport lng first export since the june fire that shut it down that is a major export facility. that was a huge amount of exports of natural gas that were offline allowing inventory to build and prices to come down. by the way, i'll play meteorologist here for a minute. it will be about 60 degrees in parts of the northeast this week yesterday, literally, out in the yard with my dogs and my son in a t-shirt in new jersey in february it is almost spring-like weather. demand for natural gas, not because i like the weather, but natural gas demand is way down we are not cranking the heat amid the crackdown in crypto, bitcoin and ethereum higher. lower than they were last week bitcoin at $21,800 >>> let's get the check in asia and in europe with joumanna bercetche in the london newsroom joumanna >> good morning, brian to build on what you were saying on energy prices, dutch ttx prices are the lowest in the year behind me, you can see the

we are at the lowest level for spr since 1983 and there are -- barrels, where we were in february.t 1983. the energy story is part of the report today, gasoline prices, oil and diesel, but really the food story is where americans have been feeling a hit, especially egg prices. >> todd: they will not feel a difference even if the report is good. >> ashley: right. the ninth dead whale just washed up on the jersey shore in a two-month span. they are saying it has nothing to do with offshore wind energy, why? >> cheryl: conservation groups are saying this has to do with the wind production, wind facilities being built out in the water off the new jersey shore. yeah, ninth dead whale in two months. >> ashley: it is weird. >> cheryl: weird and upsetting, nobody wants to see this. this is congressman chris smith from new jersey, here is what he said, he said proks imity of wind development raised concerns that ongoing activity may be contributing to whale fatality. a group called clean action say the alarming number of deaths, only unique factor from previous years, expensive scope of off

>> well, the spr is going to be less adept at meeting a real emergency, right? already releasing the barrels. the problem is that if you look at the big picture, it makes the global oil marketplace less secure because if you look at the united states, not only are they a refiner for the united states but really for the world. when our energy security is less secure, the entire world becomes a less safe place. >> john: president trump wanted to top it off back in 2020 when oil prices crashed. the democrats said you can't do it. the energy department is saying now about filling it up. they're focused on replenishing it the way that provides the best deal aiming to purchase crude at a lower price than sold for and a way to help encourage near-term production. they might be able to fill it, phil, for less than it was sold for but certainly not in the mid 20s which is what president trump wanted to buy it for. >> right. you are talking about billions of dollars of taxpayer money and a missed opportunity. shows the difference between a businessman president and a poli

then the department changed its name many times and today its successors in russia are the fsb and spr the third of february 1920. in the soviet republic appeared state store of value. vladimir lenin ordered the creation of such a fund to protect what had been robbed of the revolution. measures are the jewels of the romanov royal family of the armory of the confiscated wealth of the russian orthodox church. and, of course, citizens. at first, employees stole a lot, but they began to shoot for it, and the soviet government needed money, so a lot was then sold abroad. in 1920, the gofran even published albums, which were specially distributed abroad, as catalogs of valuables available for purchase, the work of two the temple was kept secret for a long time. they didn’t know how much everything was stored there, even in the state bank, gold was first personally ordered from there by lenin and then stalin , but over the years the situation has changed dramatically and now it’s a deaf wound - this is a full-fledged structural unit of the ministry of finance, which is responsible for receivi

then the department changed its name many times and today its successors in russia are the fsb and spr depository of value appeared in the soviet republic. vladimir lenin ordered the creation of such a fund for the protection what was stolen. plywood is the jewels of the royal romanov family of the armory confiscated by the wealth of the russian orthodox church. and, of course, citizens. at first, the employees stole a lot, but they began to shoot for it, and the soviet government needed money, so they sold a lot of things abroad in 1920. guo fran even published albums that were specially distributed abroad, like catalogs of affordable values, the work of two wounds for a long time was a secret. how much was stored there? they even knew gold in the state bank, there lenin personally and then stalin personally ordered from there, but over the years the situation has changed dramatically and now the god of wounds is a full-fledged structural unit of the ministry of finance, which is responsible for receiving storage and issuing state treasures on february 3 , 1951, the development of a p

for refilling the spr and the gas prices in europe, you see a commodity complex but how quickly is thathow do you take exposure to this commodity thesis you put forward? >> right now, the transmission mechanism is very much into broader inflation pressures. the global markets and global economy has been grappling with that for the better part of the last 12 or 18 months. they are asymmetric upside risks, particularly for energy. the rebuilding of commodity reserves. they think about the rebuilding of the strategic petroleum reserves. they will continue to be an issue there. in other areas, grains, indonesia announced the need to really take control of the processing of nickel. elsewhere, look at strategic commodities such as high end, commodities. >> always granted get you on board for the first reaction. coming up, was it a lab leak? a new report on the possible origins of covid-19. right here on bloomberg. ♪ the wall street journal considers a liberatory leak as the most likely source of the covid-19 pandemic. the department was said to have made that with low confidence. joining me i

commissars simply failed in communication in order to motivate people to continue going to the tcc and spris in general so correct to call it uh and this number it exists so really it needs to be filled preferably not by force it is not does anyone there have such an order from above that by tomorrow i have 100 people in my brigade, there is no such thing , there is simply information about understaffing , undercompensation, and they complete it as best they can. if i understood you correctly a little bit as i can because the communication has failed on their side and they can wait a little bit for the sp-line to somehow do it qualitatively because it is really necessary to communicate with people , it is necessary to explain everything to them , it is not to catch them on the street. method of punishment well, to me, it all looks simple, firstly, as a punishment, and secondly, what is this? look, if you break the law or you, we will catch you doing something that we don't like, then we will hand you a summons, that's not normal. this is a demonstration some kind of power, some kind of pow

spr and members of the 68 legislature, fellow statewide officials and tribal leaders members of the judiciary, members of the cabinet first lady of montana my dear wife susan and fellow montanans i really appreciate you giving me a standing ovation for the whole thing that you can be seated if you want. [laughter] my fellow montanans. serving you and the people of montana azure 25th governor is the greatest honor of my life. thank you for the confidence you have placed in me. in my t last date of the state i told montanans we await to them to be bold as we lead the montana come back we laid out an ambitious plan with our sights set on building a place where more montanans can realize the american dream. working hard, earning a good living and raising their family. i'm proud to report we are succeeding mission. but we know our journey is far from over. we still face challenges. but with each challenge comes an opportunity to grow together and grow stronger. for her to long montana has not been living at two powerful outstanding potential. our biggest exports have been beef, green and tragicall

they are referencing low investment with the spr. under pressure and response to that pressure. if we get a shallow recession which financial markets seem is consensus and china reopens and opec stands by and lets things happen you can make a case for higher oil and gas prices and a recession would change that quickly. >> russ, a good chat thank you for the time i appreciate it. russ with a.j. bell. we continue to talk about the bumper profits from the energy sector. >>> russia's budget deficit ballooned to $25 billion in january as oil sanctions and ba battlefield costs took a bite out of the coffers the preliminary monthly figures means that the deficit is 60% of the shortfall expected for the year >>> the u.s. is preparing to slap a 200% tariff on russian aluminum in week according to bloomberg. there are concerns in the biden administration over how this could impact the industry. >>> and coming up on "street signs," the brewer posts a loss posinghaen cllges on the horizon. we'll have more after the break. >>> welcome back. markets are actually stabilizing. that is the theme

down by substance use and serious mental ill knows you seat majority has substance use disorder at 84 sprs and then 51% and this over limited partner in the middle there of 35% have both serious mental illness and substance use disorder. of those diagnose these are what we used as criteria near defining mental illness and substance a buchlts with the [inaudible] i will say that these are not exclubhousive a person could have more than one of these. stimulant are 50% and opioid at 42%. this darker blue the mental health disorders. psychiatrist were most prevalent upon of the disorders. and we get down to other like a big bucket of other substance use, alcohol related. ptsd and bipolar. were the lowest numbers there. next slide. okay. so in terms of the demographic prosecute file in race, ethnicity 36% were white. 30% african-american. that is much higher than san francisco population by sick times and then 20% is well tin x and i will not read all of the number. proirm language there is 10% had a primary language other then and there english. so 6% spanish and different languages fit in thi

there will be some reductions in supplies going forward, but combination of no more at least merge sprreopening, we expect an increase. that should tighten markets up, but probably more in the second half of the year than the first one. >> so we're not out of the woods just yet we actually import oil to the colonial pipeline. explain why we have to import when we're a net exporter? >> it's to do with the regional, i guess, infrastructure issues with the u.s the east coast has always been a net importer, and even though the gulf coast has a lot of refining capacity, it isn't able to send everything that the east coast requires it does send a lot of products on the pipeline, but it has to be met with imports, which tends to be canada and europe. >> that's going to increase the potential prices and rasz not only oil prices but gas prices >> yes, i think that -- >> go ahead. >> go on, sorry. >> please, go on. >> i think that's a very important point you bring up because we're talking about oil prices over here, but at the end of the day, especially in the sum e what will hurt us is what pr

. >> sandra: crazy when you think about how the former president tried to refill the spr at $24 a barrelhis administration is touting that they are able to fill it at 80. that's like prices have come down from 100, this is great. it really is, it's a predicament that we are all in, because you saw the depletion on the chart. kellyanne, thank you, appreciate the discussion. >> thank you, sandra. >> sandra: john. >> john: good to see she got back from arizona as well. cdc adding the covid vaccine to the list of shots recommended for kids, but is putting the shot in the same category as other routine shots dangerous? dr. nicole. >> sandra: and alec murdaugh trial, bloodstains found on items belonging to murdaugh be enough for conviction. mark is here. and save hundreds every month. there are no upfront fees to apply. hi, i'm jason and i've lost 202 pounds on golo. so when i first started golo, i was expecting to lose around 40 pounds and then i just kept losing weight, and moving and moving and moving in a better direction. with golo and release, you're gonna lose the weight. i have sleep a

so what's interesting is that no matter what's happening, inflation, whether it's the spr drain, no matter all about climate change with this president president, everything goes back to climate change. that's what we have to freak out about. you look at the polls he though, about 5% of the nation said they're concerned about climate change right now. you know what they're concerned about? crime, inflation. maria: even nuclear. cheryl: yeah. >> i can guarantee -- maria: even nuclear war gets trumped by you c climate change. >> if american cities were hit by nuclear bombs, i'm sure the climate would be worse than before. >> i can adapt to climate change. it's not going to happen overnight. i'll go to higher ground. when the big one goes off, i don't have much time to respond. >> it says everything about where the democrat party bread is buttered. only the climate change list climate a change about as a top concern. working class americans don't have time to worry about that. maria: while they're on the private jets. jet.cheryl: he said it to the a bunch of donors in new york city. i'm sure

says they need to refill spr and they said they would do that in the low 70's number.u have a reasonable floor there. if you have a resurgent china, i think most of the market think siu will have, they are starting to fly domestically, internationally less so, but there is a huge upside on international travel from the chinese population. i think you are going to see higher prices. i suspect as we head toward this you will drift to the 90's and go from there. to get beyond the hundred i think it is a problem. you will need some sort of is to -- issue shocks which in the last three years we had pony a but i would frame the market $80 to 100 market -- $100. the price we have today you risk slightly to the upside. alix: before let you go, you mentioned china and i think we are all expecting everything to happen fast and for disruptions to happen fast. your timeline of the summer is little different -- a little different. ben: i mentioned to travel, domestic travel is higher than pre-covid. i think national travel is 50% or 16%. we done a lot of work on what that means for

so there may just be weakness in other parts of the world, or it could be some expectations of more spr drawdowns but i would say it has been a big surprise look, besides the oil price, and even before oil prices started declining this week, wewere still down 30% from the highs. where is the inflation in oil? the baltic dry index is down 90% from its peaks it's lower to date than it was precovid the problem for me, looking at the inflation situation is that it's a lagging indicator you mentioned the lei that came out tonight. the lagging indicator was up 0.2. the lei was down 0.3 what do you want to focus on service sector inflation that everybody is focused on, including the fed. so it has to be known that service sector cpi is one of the components of the index of lagging indicators everybody is gut wrenched over inflation. inflation peaked six months into the recession, and then it bottoms 15 months into the recovery if you are looking at inflation after a recession ends, you would think we're still in recession. so i don't know, i think the fed, the one number that nobody talks abou

are privately, but very directly, telling putin and other people in the kremlin, like the head of the sprspy service, sergei --, what will happen if they were to use a nuclear weapon, whether on the battlefield or elsewhere -- so, conveying those threats, not publicly, not my button is bigger than your button, but saying, you will be entering the world of pain, for lack of a better term, if you go this route. and here is what is going to happen. and you do not want to go there, which is kind of what the biden administration did in the lead up to ukraine. so, making those threats, but making them -- not just threats, but promises, privately, rather than just public bluster. >> it will be interesting to see how this plays out. we are, of course, approaching the one year anniversary of the war, and certainly people in ukraine are bracing for what they thought would be an increase in attacks from ukraine but now after two days of being on the world stage, joe biden, we are wondering what that response is going to look like -- we appreciate the time from both of you tonight. joe cirincione and

forth spr a long war -- support for a long war with beginning to waver. just half of us, 50%, are okay with supporting the war, quote, for as long as it takes. you're going to be the hearing from a four-star general, jack keane, who believes ukraine could win and win quickly. >>> it's the day after pete buttigieg's visit to east palestine. he says he feels strongly about the chemical spill, and he says he should have expressed his feelings sooner: that's an apology, sort of. one anonymous democrat says buttigieg has been, quote, taking a lot of bullets for the president, end quote. he's a fall guy. to the markets, another inflation indicator this morning, producer prices concern that is cost to businesses -- up 5.4% in the last 12 months. the dow on that news, straight down. it's off 370, nasdaq's down over 200 points. bond yields climbing on that hot inflation news. the 10-year now yields, what, 3.93. the 2-year above 4.7%, we're actually at 4.77 right now. and the 6-month yield coming in just over 5%, 5.10 to be precise. >>> politics, the job of vice ch

it is refinery maintenance season but i think people were expecting larger draws once that spr drainrles: to that point, you know, i just read a report, i think it was last week about production in this country, refined product, exxon mobility will be able to deliver 250,000 barrels a day. because of investments they made. the white house is going crazy because of these big buybacks. we know president biden the day he was elected oil took off because he declared war on fossil fuels. cot at some point the administration be hurting the industry, particularly as an investment? >> well absolutely they are. we talked about this several times. i mean their, permit something difficult. they declared war on you know, all the oil companies and said we want to phase you out. so it is no surprise that, you know we've seen all the majors report so far and mantra remains the same. they all said they intend to stay disciplined to deliver compelling shareholder returns rather than really invest. as they should. in addition they all got hit with a windfall tax from the eu, u.k. exxonmobil include a

oil is its spr, i mean, china's reopening.know, i don't know whether that's, you know, is that spr related still selling out of that. crypto is -- you would have thought it was a pretty rough week, a riskoff week it's maintaining it's below 24.5, 24.5 is where bitcoin was now, 23.3. >> nasdaq's back in bear market territory. it's down 21% from its recent highs. >> recent highs. >> yeah. >> president biden's plan to cover government spending by raising taxes on the rich continuing to play a major part in the u.s. debt discussion. one of our next guests says social security has now become the elephant in the roomment joining us now is alison schrager, a senior fellow at the manhattan institute, and indiana law professor david gamage who has been a tax adviser on senator warren's team. let's throw into the mix, i mean, i don't mean to do this, but steve schwartzman made a billion dollars last year. so we can talk about sort of how all this plays out just to be -- make this maybe marginally more of a debate or provocative, david,

you do have the spr refill i know they have announced sales on the next quarter, but they still needdemand did soften that's why i have the confidence that the risk/reward is to the up side. >> rebecca, we want to thank you. we appreciate it. >> thank you very much. >>> coming up, we're going to dig into the section 230 cases, the two of them that the supreme court heard this week, and what it could mean for the future of the internet >>> and another reminder, don't miss an exclusive interview with loretta mester she's been in the news recently, remember about the 50 base-point idea stay tuned we'll be right back. rivate bank we will work with you every step of the way to help you achieve it. so let us focus on the how. just tell us - what's your why? ♪ >>> welcome back to "squawk box. the big earnings mover of the morning, alibaba the chinese e-commerce giants has scoring a big beat it beat profit estimates by more than 18% andrew >> now to a cnbc scoop google asking cloud employees and partners to share their -- is this a scoop of sort? to share their desks we share our desks they

down by substance use and serious mental ill knows you seat majority has substance use disorder at 84 sprs and then 51% and this over limited partner in the middle there of 35% have both serious mental illness and substance use disorder. of those diagnose these are what we used as criteria near defining mental illness and substance a buchlts with the [inaudible] i will say that these are not exclubhousive a person could have more than one of these. stimulant are 50% and opioid at 42%. this darker blue the mental health disorders. psychiatrist were most prevalent upon of the disorders. and we get down to other like a big bucket of other substance use, alcohol related. ptsd and bipolar. were the lowest numbers there. next slide. okay. so in terms of the demographic prosecute file in race, ethnicity 36% were white. 30% african-american. that is much higher than san francisco population by sick times and then 20% is well tin x and i will not read all of the number. proirm language there is 10% had a primary language other then and there english. so 6% spanish and different languages fit in thi

2%, though, as we are getting word there will be another sale of about 26 million barrels from the spr of a scheduled release. opec leaving its key forecast for oil supply and demand this year unchanged for the second month in a row opening bell coming up in just about 5 1/2 minutes. what do you get from the morgan stanley client experience? listening more than talking, and a personalized plan ♪ to guide you through a changing world. ♪ the first time you connected your website and your store was also the first time you realized... we can do anything. cheesecake cookies? [together] the chookie! manage all your sales from one place with a partner that always puts you first. godaddy. tools and support for every small business first. >>> 3% of our business is large deals, almost $50 million. some people love that. some people don't. i like it because it means we're a little more recession-proof. then you have a tale of two stories, tale of two cities. the average revenue size went from 6.5 to just over $5 million. so it's decreasing it's decreasing for exactly the reason ryan says, because

testament to the fact that a lot of these are due to the supply side challenges >> we can't let the sprpening. this may -- we may see a resurgence of energy issues or even inflation but i guess the most worry something is, if you run too hot for whatever reason, the fed is just in this position where they feel like they have to act and you can imagine, heather, what our national debt of 32 trillion, what it's going to cost to pay the interest on that if rates go up to 5 or 5.5%. we're not going to have money to spend on anything else there is a concern that we can stimulate it too much and it can run too hot. >> we've been having this debate now for two years, right the legislation that we're talking about has been in place for quite some time. so what we are seeing is the benefits of that for the american worker and certainly rising interest rates do affect the debt the president has been focused in all of his budgets on making sure that his policies lead to a reduction in the deficit he's done his part he's reduced the deficit by 1 trillion that's a significant step in the right direc

we can drain the spr. apparently it is a political slush fund.. there lies the problem. tom: the kansas city chiefs are playing the other team. as they were playing your beloved eagles, every other ad was an electric car ad. electric vehicle usage, is that in the world now? do you see that in the data? stephen: absolutely we are beginning to see it. we are most likely seeing it in gasoline demand. demand is problematic if you're just assuming no one is driving ev's. demand is anemic. you have to consider this winter. the i-95 corridor to the maine border, there is no snow on the road. from these coast wyoming, no snow. we have ideal driving conditions. gasoline demand is about 4% below a year ago. according to our modeling, 2% below the probably stick range -- probabilistic range. they are cheaper than summer prices, yet demand is not kicking in. if europe saying it is just the fossil fuels, we have a problem. gasoline demand is a tremendous economic leading indicator. we have to factor out the fact that more people are driving hybrids. i was bra

that is after the spr release was over.ore than russia, that is more than saudi arabia, it's more than both countries combined. our supply is wake up. if you look at real liquids, oil, biofuels, natural gas liquids and running our refineries, we are at $21 million a day producing. that is lisa: when this started. i'm curious how it diverse from the jp morgan view of the next 10 years. are you seeing demand is going down because they lack of activity? perhaps the data points to poor because of renewable energy? because of alternate uses, we have seen the transition accelerated since the pandemic. >> we have beth going on -- both going on. in china 39% of all sales is electric vehicle sales. phenomenal both in europe and the u.s. is not far behind but it is also something happening in the trade environment. we have seen treatment in place followed by what we call bill, chip, and iron. it really moves to block trade and bring things home not only to the u.s. but it also includes some free trade agreement countries. europe was

your view on what the new window will be that this administration or will they just not refill the spr i think it will behoove them to refill it as we discussed. it will be expensive to do and they have to find the money. ultimately, for the reasons that tom mentioned a inflation. kick kind of probably suits them even though that stores up risks for the future. tom: i don't have the knowledge in front of me but in the blur of the news flow i'm getting a feeling that lng is still challenged after what? 125 years of promises that lng is going to save the day. what is the state of natural liquefied gas to being a legitimate business? aren't there people saying it's too expensive to do? >> i think lng is very important to the global system. we've seen that this year as the u.s. managed to import into global markets. that's really what sold the european energy crisis is the flow across is that the answer to everything? no. is there enough coming into the market? no, you're right. in fact, we continue to see the mismatch between the u.s. and european prices which are much higher. that was th

. >> if energy prices -- if something happens there, i don't know, we're using the spr, take your pickould do core maybe, to try to factor that out. but, it seems like it filters through to everything else if that's why inflation stays stubbornly high, would you continue to work on slowing the overall economy when really you're not -- that's not really why we have the inflation. you can't really address the energy supply problem. it just seems like that would be a bad reason to go much higher than you need to go in terms of tightening for something you can't really control >> so, joe, it really depends on what's causing that -- the energy prices to rise. if it's because it's outpacing supply, we're going to have to think about what that means in terms of the path of inflation if it's the supply shock, which is typical of what you're alluding to, then, right, you're exactly right. we have to look at what's the underlying inflation rate. what are inflation expectations doing, which are all important anchoring them, keeping them at 2% over the long run long run inflation expectations are

we do not have one million barrels of spr hitting the market.on is flat year on year, i.e. we don't lose any, but let's assume that, it is still a much tighter market just from china. jonathon: i just got a message from a bloomberg subscriber. it says forget wti. can we talk about natural gas? what's behind that movie? -- move? amrita: the weather. europe and the u.s. got very lucky with how warm it has been. march forecasts have raise the amount of natural gas backing out, so prices will have to fall to about $1.75. still a little bit more to go. but it has been brutally warm. jonathon: what a change. natural gas falling below 2 since 2020, and looking for lower. amrita sen there. you want the weather? across the 48 states, january was the sixth warmest on record. new york, pennsylvania, indiana had the second warmest january in data going back to 1895. tom: somebody was saying you could go out to wyoming without snow, which i can't imagine. there was a genius years ago who is going to play for the cardinals. his name was al goldman. he came ou

. >> million barrels from china, million perils less from the spr.hink the market is too focused on russia. the other does cope and take us. jonathan: crude rallying more than 2% on brent. $86 a barrel. the latest news that russia said we will cut or your output by 500,000 barrels a day. this is the follow-through we expected. the threat to retaliate against western sanctions. here it is. opec-plus, how will the rest of opec-plus respond to the output cut according to delegates -- according to delegates, they will not boost supply in reaction to that russian cut. lisa: which is what russia wants. the point is if we are not making as much money from what we are exporting, if we cut our production we will make the same amount by exporting last because the prices will rise. jonathan: crude has been rallying most of this week. up 8.8%. i think we are on course for the biggest weekly gain of the week so far. tom: pre-pandemic $60 a barrel. then lisa had two drums in her living room. the important point is the persistency from $20 a barrel to 120 was tangi