i hope you would force transcanada to use made in u.s.a. steel.re using steel from everywhere other than the united states of america. >> they do source their steel here. >> no they don't. >> yes they do. as far as the politics it's become a symbol for ngos with an 18th environment agenda. state department assessments, who are weighing the fit, the president will look at all the facts all the assessments, five years and counting now and make the decision that's in the interest positive our consumers and approve this pipeline. they have assessed the climate impacts, they have assessed the impacts to the resources along the routes and they have not found any significant impacts. ready for your approval. >> but cindy your organization api since the late '90s has been building front groups, fostering denial, sewin sew -- sowing seeds of denial. saying we're going odig up all the oil in the tar sands. there is no way we can hit the 2° benchmark that the united states and other nations have agreed to. keystone. if you want a climate debate, thing. list?

in 2010 transcanada keystone once spilled a dozen times and residents in east texas say the pipeline is so close to the river that it could threaten their fresh water supplies. but texas is no stranger to oil pop lines. this state's fortunes was built on oil industry, and transcanada said they have gone above and beyond to create the safest pipeline in u.s. history. when we contacted their headquarters in alberta, they stated that testing is critical to pipeline construction. transcanada went on to say that each section is built to high standards and the company won't compromise when it comes to safety. >> you can hear this pipeline leaking. it's totally creepy 2347 but maya has spent her life living in the shadows of what she calls extreme extraction. her property has several pipelines running through it, and it's close enough to give her concern. >> this pipeline is something that puts a lot of fear into the daily lives of people all along it's route. and people--that alone should be enough to stop this project. people should not have to be afraid for their health and safety and fo

nobody has more stake in this decision that the ceo of transcanada.d be the one to build the what -- $5.4 billion pie. the oil stands in alberta to refiners. environmental groups oppose the pipeline, but they say it would increase carbon emissions. yesterday peter cook spoke with russ and asked him when he expects to finally get that decision. >> we are coming to the final of the environmental impact review. that comment time closed, and we are coming to the time of answering all of the issues and questions that were raised. i would hope that in the coming weeks we would see a permit. that is our hope. since givene long up protecting exactly when these things are going to occur. >> i know you met not too long ago with representatives from the state department. what is your level of confidence today that at the end of the day the president of the state department is going to say yes? confident. very it is a very important project paid the u.s. imports 8 million euros to 9 million barrels a day. the greatest way to get that oil is three pipeline. -- thr

in 2010 transcanada's keystone spilled a dozen times. residents in east texas say that the pipeline is so close to the angelina river that it could threaten their fresh water supplies. >>> but texas is no stranger to pipelines. this state's future tune has been built on the oil industry, and transcanada said they'll build the safest pipeline in history. >> they say they've been inspecting and testing critical to the pipeline construction and they went on to say that each section of the pipeline is built to high parents and they won't compromise to september. >> you can hear it, it's making noise which totally creeps you out. >> reporter: maya lemon has spent her life living in the shadow of what she calls extreme extraction. the property has several pipelines running through it, and it's close enough to give her concern. >> this pipeline is something that puts a lot of fear into the daily lives of people all along this route. and people--that alone should be enough to stop this project. people should not have to be afraid for their healt

we've had two pipelines that were not online, seaway, transcanada. news came out that transcanada excel might start pulling 700,000 barrels a day in january. david: wow. >> that will pull up a super congested situation into need really quickly. even last week people were thinking that transcanada might be able to pull half of that out, not 700,000. combine that with, combine that with healthy pmis out of the united states yesterday and also the eia report coming out tomorrow, people are expecting a 700,000 draw, i think you add that to the fact a lot of short-covering by those nasty speculators who drive down the price of oil, are driving it back up. liz: by the way, stuart varney's show, "varney & company", will have those numbers the second they came out. 10:30, right, larry, 10:30 a.m. eastern? >> yes, ma'am. liz: robert, let me ask you, is there an energy name that is your favorite right now as you the stock-picker of 2014 looks into some of these names? >> well, there's several, but the one that comes to top of mind is devon energy and devon is

transcanada stands to lose a lot. the company has two point $3 billion into the keystone project.s like conoco phillips could face hurdle getting the product to market. the next best option, railroad. 150,000 barrels per day is moved by train run canada. expected to increase to 360 euros per day by the end of 2016. the is much pricier than pipeline. that means investors like war and buffet could win big. >> megan hughes joining us. we spent a little bit of time with the billionaire who has been one of the most vocal components. he wanted to dismiss the state department first draft report going to it was not influence climate as much as people like him say it will. how important will that be for the president in determining whether to go ahead with this? >> the conventional wisdom is it will be very important. of the obama administration, members of the epa were concerned about the original state department report . interesting how the rail thelopment bolstered transcanada case. the big concern is global warming. not so much the pipeline itself, but the demand for the tar sands tha

transcanada stands to lose a lot. the company has pumped $2.3 billion into the project. companies like suncor energy and conoco phillips could face hurdles getting their product to market. the next best option is railroad. 150,000 oils -- there'll -- barrels of oil pump to canada. rail is much pricier than the pipeline. that means investors like war and buffett could win big. the longer the pipeline gets pushed back, the higher the demand for rail. >> megan hughes safety is still a big factor. even with yesterday accident in north dakota and the earlier you ram it -- derailment this year. railroad say 99 .97% of hazardous material shipments reach destination safely. think odd. keystone has released one issue that will have trouble making it through washington next year. -- thank god. the best of 2013. why you should not hate on the selfie. before we had to break, across the atlantic some new year's parties are kicking off. biking style. 45,000 took to the streets of scotland for a torchlight procession kicking off new year celebration. torches lit up the roofs led by vik

transcanada stands to lose a lot.ny has sunk 2.3 billion dollars into the keystone project, and companies like and conocogy - phillips could have their prices hurt getting the product to market. third is railroads. are movedof barrels by train from canada. but rail is much pricier than the pipelines, and that means investors like warren buffett could win big. the longer the pipeline is pushed back, the higher the demand for rail. >> coming up next, an update on the markets. ♪ >> that does it for me. will be, deirdre bolton back to talk about on the web and social media plays. in the meantime, olivia sterns is back with us, on the markets. stocks are rising. it is very light trading volume out there, about 50% lower than the 30-day average, but stocks are rallying. the dow and s&p extending their records into all-time highs. the s&p now up almost 30% year to date. toividual stocks we want highlight for you, the first is amazon. a $20 giftfering cards and refunds on shipping charges after some orders did not reach their

crude oil hitting a one month high after transcanada said it will be operating this january.ing crude it's a good thing. >> it moves crude out. that gets it down to the refiners who need it. this news was expected. this was not a surprise today but oil just absolutely took off. a lot of short covering there. for me in 2014 if you get oil right that's where you're going to make all of your money. i actually think it's going to go higher. >> this is down by while the yellow metal is down 27% in the same time frame, there is some chatter out there with gold prices so low they will have to cut dividend. >> they will have to do something. >> right. >> and so we talked about this, talked about it all the time. if you want to be in the space you own gold and this is the reason why. when it was announced that they were selling $3 billion worth of stock, that was september 2009. fwoeld was maybe 1,050, $1100. the s&p 500 was about the same. over that time the s&p 500 has rallied almost 800 points. that's the best possible environment for there. what did we do? they are completely hand

transcanada says they have gone above and beyond to create what they claim will be the safest oil pipelinen u.s. history. when we contacted the company at their hazardous in alberta, they say construction and inspection is critical to the pipeline. the company says it won't compromise whether it comes to safety. >> you can hear the pipeline through this station which totally creeps me out. >> but mya lemon has spent her life in what she calls extreme extraction. the keystone pipeline is close enough to give her concern. >> this pipeline is something that puts a lot of fear into the daily lives of people all along its route. and people -- that alone should be enough to stop this project. people should not have to be afraid for their health and safety and for their community. >> the final approval for the northern portion of the keystone xl pipeline rests with president obama and so far it's a decision he has delayed time and time again. but east texas residents say it won't make any difference. this section of the pipeline will become operational in january. andy gallagher, al jazeera, texa

in 2001, transcanada's keystone 1 leaked twice. >>> texas is no stranger to oil appliance. this stat state's fortunes weret on this. when we contacted the company at their headquarters in alberta, stated construction and testing are critical to the pipeline's construction. trans canada went on to say, the company won't compromise when it comes to safety. >> you can hear this pipeline through this station. which totally creeps you out. >> but mia legalon says she has spent her life in extreme extraction. the pipeline is close enough to give her concern. >> this pipeline is something that puts a lot of fear into the daily lives of people all along their route. that aploan should put a stop to this project. people should not be afraid of their health and safety and the safety of the community. >>> the northern section rests with president obama and so far it's a decision he's delayed time and again. but opponents in east texas say it won't make any difference. this section of the pipeline will become operational in january pnl eanld gallagher, al jazeera, west texas. >>> this

crude gaining 2.3% on the session on news that transcanada will start that gulf coast pipeline on januaryht. krispy kreme from oil to doughnuts seems appropriate somehow, taking today after reporting worse than expected quarterly results that stock down almost 20%. let's bring in our good friend and dough nut aficionado herb green burg. there's a big discrepancy between the franchisee and the company owned stores. i understand all stores are different, markets are different, but the gap was so big i noticed it perked your brow up a little bit. >> it was huge. you had company owned stores up 3.7%, franchise stores up 10%, 10.7%, something like that. typically they had been running on par with one another and when the company was asked on the conference call yesterday about this they said, you know, they gave an explanation that wasn't really an explanation until they got to something that piqued my interest. almost a matter of factually they talked about cannibalization in the u.s. they talked about this in internationally for quarter after quarter but they loosely used the words cannibali

in 2010, transcanada's key stone one spilled a dozen times.exas say the pipeline is so close to the angelina river, it could threaten fresh water supplies. >> texas is no stranger to oil pipe lines. this state's fortunes were built on the oil industry and transcanada say they've gone above and beyond to create the safest oil pipeline in u.s. history. >> inspecting and testing are critical to the pipeline construction, saying each section i guess built to high standards. the company says it won't compromise when it comes to safety. >> you can hear it, this pipeline or this station making noise, which totally creeps you out. >> she spent her life living in the shadow of what she calls extreme extraction. the property has several gas lines running through it. the pipeline is close enough to give her concern. >> this is something that puts a lot of fear into the daily lives of people all along its route. that alone should be enough to stop this project. people should not have to be afraid for their safe health and safety and for their communities.

transcanada wants to build it-line that would connect the canadian to the gulf coast. ramifications for the environment. --an hughes breakdowns breaks down the winter and the losers. oil to the pump refineries on the u.s. gulf coast. if the pipeline is approved, what does that mean for jobs? about 42,000e direct and indirect jobs during the two-year building phase. almost 4000 are pipeline construction jobs. to pipeline is only expected create 35 permanent jobs. profits, a razor thin profit for oil companies. -- recent shale bloom movement created a glut of oil in the united states. if the oil from the tar sands can make it to the gulf coast, a kurt -- it competes against the mexican crude benchmark. the $20 premium does not necessarily mean big profit. canada's heavy crude is the most expensive to produce. it needs to fetch $65 per barrel to break even. add in transport costs tom a including extra lubricants to get it through the pipeline. the profit drops to $5.50 a barrel. if the pipeline does not get approved, who are the winners and losers? of thenada, owner propo

cheryl: mckenney and company will be pushing through, transcanada will pushing through more oil from to texas and that will be one bearish for the contract. >> the market has adapted in amazing ways with the use of rail. the amount of oil being transported on rail right now is astounding compared to where it was four or five years ago. what is meant is all the production up there, in canada is really starting to fade away and as a result the benefits of that oil are being shared kind of equally around the country. it is not creating quite the crisis it was before. still some logistical issues. as a result of this is why you're getting the start of the big discussion on exports which is going to be a very big topic of discussion. cheryl: you're coming back. happy new year's, good to see you. speak out thank you. adam: it may cost more to feel up a car, but you don't have to worry about that. these cars up for auction. drive it if you love it. joining me now to tell about his big auction in scottsdale, arizona, chairman and ceo always good to see you, thank you for joining us. in fact

that has a lot to do with pipeline developments on gulf coast pipeline owned by transcanada.hey started filling that pipeline 700,000 barrels will be filled from cushing, oklahoma to the coasts. that's something supporting the u.s. oil price. as we've seen gains there over the last week or so we've seen gains in gasoline prices. wholesale gasoline or the futures at nymex are up 5% in the past month. that is translated to higher prices at the pump. we're up about six cents or so for the national average in the last month, $3.26 a gallon. back to you. >> thank you, sharon. it's been a big year for index fund managers. probably the most famous index people can invest in or want to. the s&p 500 is up 26% this year. we still have a couple weeks to go. on top of that even bond king bill gross has been paying homage to index investing singing praises to jack bogle just here on "closing bell." >> the market not being able to outperform itself. we know common sensicly, we know that's true. >> so should you stick with those index funds for 20 14? vanguard's jack bogle joins us now to w

petroleum institute showing a decline for the week of more than 12 million barrels and the fact that transcanadats southern pipeline going from curbing, oklahoma to the gulf coast. we're likely going to see more supplies coming out of curbing before the end of the year. we'll be looking for that curbing number from the energy department at 10:30. we're watching gold prices. they have reversed course. we're above 1225 an ounce. we'll see if this remains or a short coffering bounce for now. >> all right, sharon. so much going on in your world. thanks. >> dennis kozlowski will be released on parole after eight years in prison. he was convicted for stealing more than $100 million from tyco. a new york state parole board tentatively agreed to release the 67-year-old next month. his lavish spending of kous included that $2 million birthday party in 2001 for his then wife and who could forget the $6,000 shower curtain. apparently some of the conditions of parole, he's going to have to seek employment as part of the deal, can't open any kind of fiduciary role, a bank account or credit account without th