. >>> coming up on a brand-new "your money," the american energy boom. was supposed to put money in your wallet. instead the money is going right out your car's tail pipe and escaping out the windows of your home. i will tell you why. . >>> the u.s. prepares for its own tribute to the veterans of the forgotten war. we will take you live to the ceremonies. >> the behavior i have engaged in over many years is wrong. >> another day, another apology. but the san diego mayor facing sexual harassment charges refuses to step down. you will hear his solution and one of his

"your money," the american energy boom. it was supposed to put money in your wallet. instead the money is going right out your car's tail pipe and escaping out the windows of your home. i will tell you why. . >>> the u.s. prepares for its own tribute to the veterans of the forgotten war. we will take you live to the ceremonies. >> the behavior i have engaged in over many years is wrong. >> another day, another apology. but the san diego mayor facing sexual harassment charges refuses to step down. you will hear his solution and one of his accusers reactions. >> i don't want to do anything that i would have sort of hard time telling my parents. >> former nickelodeon star's sudden personality change has her on a psychiatric hold and her parents calling for intervention hold. good morning, everyone. i'm suzanne malveaux. >> i'm poppy harlow. 10:00 on the east coast. >>> we begin with breaking news this morning. two people are now missing. had is after a boat crashed into a barge in the hudson river. this is just north of new york city. one of the missing is a bride-to-be.

and the north american shale boom is changing the region's energy landscape. in half an hour, we'll find out how some firms are seeking agen alternative ways to get into the game. and jpmorgan reporting before the bell today. can dimon deliver another gem? we'll head to cincinnati to preview the earnings. besides all of that, the long lenses are at the ready and high streets up and down the country are full of baby souvenirs. it can only mean one thing. a royal baby is on the way. while the duke and duchess haven't revealed the due date for the third in line to the throne, reports point to july 13th. while the baby probably needs no gifts, we thought investment advice might be in order. which asset class do you think would be a fit for the future king or queen of england. you can also tweet u us @cnbcworld. maybe up until the 21st birthday, how about that? >>> the release of crucial economic data from india being delayed until later today. we'll find out why and what it means when we go to mumbai in a few moments. 7 [ male announcer ] it's time. time to have n

the next half hour. >> in energy news, international energy agency says the north american shale oil boom could spur the biggest rise in nonopec supply growth in the past decade. next year. the iea notes this should help meet strong global demand, the strongest since 2010. >> instead of thinking about what you're reading -- doesn't help. >> if you put it in front of him, he will read it. the agency says the outlook should, quo, give oil bulls close for alarm. industry experts say gasoline isn't expected to jump by 10 to 20 cents per gal nlon in the ne few days. in corporate news, chevron says oil and gas production declined last quarter because of area shutdowns and maintenance work in kazakhstan, australia, and nigeria. finally, a report says texas is pumping more oil from opec countries. in march, the state's oil production reached its highest level since 1984. texas oil output doubled from less than three years. that's all, of course -- >> you don't know the -- do you know what the shard is? >> i know exactly what you're talking about. >> not a shard. >> absolutely. this was a huge deal in london. >>

the overall economy. why are we allowing more investment in oil and natural gas extraction? this could be a booming industry that could employ hundreds of thousands, millions more american workers and lower the energy every american has to face. why is the federal government throwing up their arms? why did it take so long to install the keystone pipeline. stuart: we haven't approved it yet. looks like the delay may cost the pipeline overall. thank you. i want to segue to the dow jones industrial average because they are going nowhere here. it is dead static, the volume is very low. it is friday morning in the middle of summer and not much trading activity going on. 15-5 is where we are holding and harry reid blames wildfires in his state on climate change. that is one of several examples of the politicization of weather which we will deal with next. this man is about to be the millionth customer. would you mind if i go ahead of you? instead we had someone go ahead of him and win fiy thousand dollars. congratulations you are our one millionth customer. nobody likes to miss out. that's why ally treats all their customers the same. whether you're the first or the millionth. if your bank doesn't think

the energy partners. a former shell oil president, now with citizens for affordable energy. thank you both for being with us today. first, legendary investor t. boone pickens kicked off our special report saying that the american shale boomur addiction to opec oil. take a listen. >> breakdown. we used to but 18 million barrels a day, produced about half of it, and import half of it. the oil that we get from canada and mexico is pretty close to four, four and a half million barrels. the rest of it comes from opec. we don't have to have opec. that is the place to get out of it. ashley: strong words. kevin, you say that we should be careful not to alienate the producer nations that supply is. explain. >> energy independence is a great goal answer the producing more of our own energy is good from a security and economic perspective. we still need opec producers. even if we get to independence there will be a global price for oil that will come home to us. we want opec producing for the world saw the world as well supplied suppresses lauren home. ashley: do you agree it is a balancing act but essentially being able to export more energy for profit while also relying on oil-producing nations from supplies? >> it is a global bu

need to do is convince young americans going into college that the energy business is a stable business. back when i got into the business over 30 years ago it went through boomsts. as it went through those phases of ups and downs the volatility caused young people to say, hey, that volatility is not for me but if we can pass policies right here in washington that show we're in this for the long term, i think we'll have abundance of young people who say this is place where i can go and work my career and make a difference in this country. also feed my family at the same time. melissa: true, but congressman, how can you legislate that? how can you make that happen out of washington? it is true we do see the price of energy rise and fall, and you see investment, the rig count goes up and down in response t that. that is a valid complaint of people, maybe i don't want to get into this industry because if we see prices bottom out again because of this tremendous boom it will turn out it is not a great job. you can't legislate that away. >> we can't legislate away booms and busts you're exactly correct but we can eliminate the government interference that prevents

things like shale gas and the energy sector in america which is going to create a boom and manufacturing as well. i think also housing will be very, very important because most americans still keep most of their wealth in housing. >> is it going to go up? >> i think that's the question. the next couple of months you may see a little pull back as a result of mortgage rates going up. >> in order to get investment, we really have to improve business confidence. there's plenty of profits. there's plenty of wealth to support higher investment. what there's not is the confidence in business leaders. i think that requires this long-term move. i agree that the near term deficit news is welcome and positive, but it frankly, the long-term news is still bad. >> i think business confidence is one of the great canards business leaders use saying this is why we're not spending. a few years ago it was impasse in washington. i think there's less investment because businesses are making a lot of money and they're fully capable of making the kind of profits they're making without investing heavily in infrastructure or in hiring. >> i think that's a crucial point. the growth prospects o