they had sold the exxon valdez to a company that named it the dong fang ocean. then it had a collision with another ship, which left the old exxon valdez fit only for scrap then it was sold again and renamed again, and i kid you not, they renamed it the oriental nicety. the oriental nicety? yeah. which we all know is the exxon valdez, will now be sailing into a ship-breaking yard off the western coast of india, over the protests of environmentalists who say the ship has asbestos on board and it's too dangerous to break up. thanks to a new ruling, that's where it's going to be turned into scrap. it's finally going away. turned into a pile of junk metal even as thousands of gallons of the oil that it once carried still persists to this day on the alaska coast. >>> the fortune global list of the 500 richest companies in the world just recently came out aga again. of the top ten, seven are oil companies. exxon alone made $41 billion in pure profit just last year. wow. oil companies are almost as great at making money as they are terrible at cleaning up their messes

. >> reporter: she used to be homeless, but now ott only does carmen valdez have a place to live, sheo tell. [ speaking foreign language ] >> reporter: some people believe it could happen and others don't, she says, but i believed it all along because it came from my commander, and that is how valdez refers to va leenezu president hugo chavez. he made housing of the poor a priority last year when he launched the great venezuelan housing mission. at a very public event broadcast live on venezuelan television, chavez told a audience of loyal supporters that the government is to build 2 million homes for low income families in seven years bu s years, but his opposition says that chavez is using public money for political purposes and to advance his socialistic missions. >> translator: this is inefficient government and charged with rhetoric and hours and hours of speeches and rhetoric of manipulating people with hope. >> reporter: and venezuela will be holding elections in less than three months and chavez hopes to be re-elected for the third time. and the opponent says that the programs

i didn't cover valdez, i was young then.i did cover deepwater horizon, and in your description of valdez and exxon's response to it, i did see some -- it almost seems like bp took a page out of the play book. did you see that at all as you were seeing the coverage of bp? >> guest: deaf -- definitely parallels. a few that come to mind are that in the decade running up to valdez, there were warning signs that exxon was not operating in a consistent manner in a way that would give you the highest possible reassurance that such a catastrophic accident couldn't take place. in fact, before they cut 80,000 out of 100,000 employees, they re-organized the entire safety department, entire environmental department, and, you know, obviously, the fact that a tanker captain with a drinking problem who had dui arrests was still in his job making more than $100,000 a year in 1989 dollars, that's not the exxon mobile you would expect today. there was a series of warning signs that culminated in the accident. same true of bp. i don't know wha

as root cordray didn't coupler valdez. i did cover deepwater horizon in your description of valdez, i did see some -- on the same site bp took a page out of the playbook. did you see the coverage of bp? >> guest: do could probably list even more than my mind comes with a few that come to mind there were warning signs that exxon was not operating any consistent manner manner and a way to would give you the highest reassurance that such a catastrophe accident did not take place. in the decade before the valdez exxon cut 80,000 out of 180,000 employees reorganized their entire safety department and environmental department. obviously the pack with a drinking problem that had dui arrest was still in this job can make it more than $100,000 the year in 1989. that's not the exxonmobil you would expect today. there is a series of warning signs that culminated. the same is true of bp. i don't know what she would say, but i had bp's record as a weak operator on the texas city plant, osha record, the fact that they basically had a cu

in the "exxon valdez" disaster, less than 10% of the oil was recovered. cleaning up a spill in this hostile place would be a very tall order. the plan in shallow water, less than 200 feet, drilling wells up to 8,000 feet below the seabed, then lowering sophisticated equipment into the holes to determine just how much oil is down there. no plans to actually bring oil up. you think there's a gold mine under the arctic? >> we're enthused about what we see, but our enthusiasm is tempered until we drill. >> reporter: shell has equipped themselves with clean up processing ships, planes and helicopters just this case of a spill. the company has also worked with eskimo plans. edward is former mayor, he ran on the slogan hell, no, to offshore drilling. but then he took office. >> in my heart of hearts today, i still oppose offshore. but during my term, i realized one important thing. that responsibility of a mayor. >> reporter: responsibility to compromise for job, tax revenues, even cleaning the streets. bob reese author of the eskimo and oil man about the decisi

. >> look at the gulf of mexico and the exxon valdez. anything can happen. >> for the outside world there is little trust. >> i can feel that this is going to happen. it's i can feel it. it is kind of scary. >> a global struggle for oil and a tiny place and its way of life, and the middle. >>vicki: we're going back live to sfo. you are looking at airforce one landing just moments ago. the president is now in his car. we will be checking in with reggie kumar of the president's trip to the bay area coming up at. serve happy birthday! thank you, nana send money to anyone's checking account with chase quickpay. all you need is an email address or mobile number. you're welcome. take a step forward and chase what matters. >>stanley: bicyclist slovenly and it shows. apparently, many think i am number one. remember this guy? he was the one who got one of those $388 tickets a few days ago. this writer called me and and yet another #one of approval. it was not just a bicyclist. a web site named the uptown almanacs published an article: the anti bi

horizon only about a third of the oil was physically recovered, burned or dispersed in the alaska exxon valdez10% of the oil was recovered and cleaning up a spill in this place would be a very tall order. >> miguel marquez joining us from new york now. it seems that shell is making a major investment here. high risk, high reward, is probably the mentality. but what have they put together in terms of resources at the site to be prepared for a worse case scenario? >> because of how difficult this has been to drill up here, shell has put together a pretty impressive ar madded da of ships. 15 vessels will be attending these two rigs this summer to basically sit offshore, just sit next to them and watch. if there is an oil spill they will be able to collect and process that oil quickly, says shell. they have planes and helicopters on standby in the event that they need to spray dispersants on the ocean and worse comes to

. >> the oil spill from the exxon valdez is still coming up in the sand on beaches 23 years later. there's absolutely no world experience that tells us that we could address and clean up a spill in the unforgiving waters in the arctic. there's no reason to believe that this is a safe way for us to move forward. >> you know, make sure you tune into "outfront" next week for a special report, cold wars, in which we'll be taking a much closer look at drilling in the arctic and all that it does or might mean. it's been 341 days since the u.s. lost its top credit rating standard & poor's. what are we doing to get it back? well, apparently not enough. the credit rating agency fitch this afternoon once again confirmed its top aaa rating for the u.s., but it also stuck with a negative outlook saying government budget uncertainties and turmoil in european markets makes the future look kind of dicey here. >>> our fourth story "outfront." president obama doubles down, reiterating his pledge to extend the bush era tax cuts only for people making less than $250,000 a year. >> i believe that we s

is this banking industry can you make the equation to a let's say exxon valdez when it hit that coast of alaska its bill millions of gallons of oil and it created a pollution a toxic event in this case a bank like barclays is releasing toxic derivatives toxic practices why doesn't greenpeace cover barclays as being in other words they they the banking industry needs an environmental upgrade because they are releasing risky toxicity into the system because i ask this because you straddle both worlds here on wall street you're doing renewable energy where you think of that idea well look i think that we have crossed some kind of rubicon with with this park especially if there's any collusion on the part of the national authorities now the bank of england that's where everything falls apart because who trusts now and then there's any collusion between in the us between the administration and some of the big wall street firms then we have a real problem because the citizens can no longer trust their governments on the very very basic fundamental tenets of the economic structure so you kno

welcome to the voice of juan valdez. i think he should be president, sounds so bright. especial if he doesn't wan . spe wreor ctwobetean i $ hour, i didn't like it when they threw out magazines. i wonder how many pople will moort sd at is a letterbox tcayo pra e re horwi tw f tropl a well as -- and include alittle side note for the rock group. i wonder if it's counterpducte to he muc h j, k fo l e cntreng anreanaiorou mr. pietrusza. ease, find out -- are y familiar with the betrayal of arnold rothstein on the television program "boardwalk pion h , d actety >> guest: well -- >> host: were you a consul tan, first of all, on that? >> guest: no. nesehe ss. however, i received an inquiry from the portrayer of rothstein, and ey had read the book, and ey wted discuss howhey ouo abt ts. foat st anoutru tor, consult with him whether i should be talking with the actor. so i sort of talk to him and id i b hay hveun [ltedotin bufo very little in my research on rothstein whi connected him to atlantic city. there was only one tng i tatiab-rng sha at. boon an comes from delane in gran

. >> allen valdez, david demaris, what are your expectations for next week?ro and the dollar. people will weigh on earnings. it is a big trading partner. if our dollar getting stronger, a lot of these multinationals like the dollar. >> the treasury tells us that it's a strong indicator of the u.s. economy. >> we think the earnings numbers wills be okay this quarter for the year as a whole we're looking for them to be up only 2%. the consensus is for them to be up 7% to 8%. we're looking for them to be down 1%. the fiscal cliff, some part of it, will not take place, but the other part will which will crimp earnings, and europe is it n a big slow down, that's a second part of it, and thursdayly we're not as constructive and optimistic on the financials and on the consumer digressionary stocks. we will point out a couple things going on here, the payroll number, not the jobs, but the payroll, the earnings and hours worked was up seven tenths of a percent. the people working are working harder. >> there was a survey on primary dealers, 656% believe we will get qe

. >> thank you, we're approaching the close and with us is allen valdez from dmc securities. market is down about 117 points. is this an indicator of how we might open on monday? >> i'm not putting too much into it. it is an option expiration, guys taking some money off the table here. we've been missing on the revenue about 45% of the time so far. >> a catalyst will be on earnings. and second half of the year, estimates are still coming down, what are you expecting for the second half of the markets? >> we're expecting a weak second half and the worries as we approach 2013 about taxes going up, okay, and spending going down. 75% of the fiscal cliff is increased taxes, and 20% of it is cuts. secondly you have energy prices down and interest rates down. that is cutting into the earnings of physicfinancials an number companies. earning wills only be up as you know 2.7% this year. the consensus is for them to be up next year, and next year down 1% next year, and the consensus is for them to be up another 12%, we're $20 less. $98 is our number for 2013. we want to wish our u.s. o

in the exxon valdez spill, we have about 8% recover.the gulf of mexico, less than 2% recovered. -- less than 10% recover. attention to what everyone is saying [unintelligible] >> one person who does not seem to be paying attention as president obama. i want to play a comment from a 20 tammany announced the expansion of offshore oil and gas exploration. >> under the leadership of secretary salazar, we will employ new technology to reduce the impact of oil exploration. we will protect the area's vital to tourism, and garment, and national-security. we will be guided not by political ideology, the scientific evidence. that is why my administration will consider potential areas for development in the mid and south atlantic and the gulf of mexico was studying protecting sensitive areas in the arctic. that is why we will continue to support development of these areas of the north slope of alaska while protecting alaskas crystal bay. >> that was president of the misspeaking in 2010. he made these comments speaking in front of a fighter jet at

. >> reporter: myrna valdez works with parents at university health care's upper cardoza center. she says getting a prescription helps patients understand how significant a healthy diet s. >> make them feel like -- they think of medicine is important for the health, but also the vegetables, you know, the doctors prescribe it the amount of vegetables and fruits that you have to have in your life. >> reporter: the program introduces patients to farmer's markets. lauren beale is executive director of d.c. greens, one of the program's partners. >> the patients coming, many didn't realize the markets were there. >> reporter: janet lopez says she is starting to feel the impact of eating more fruits and vegetables. >> i feel that i have more energy. i feel like now i'm doing something healthy for me and i feel more healthier 'cause i'm eating stuff that i need and i should-eating. >> hope is that she will continue. participants in the program are selected based on their risk for developing chronic diseases and obesity. they can stay in the program for six months. the hope is that it can

they remember exxon valdez for sure. do they have reason to worry?have reason to worry. if you poke holes in the ground and there is pressure and technical ability and things that happen, certainly the worst could happen. shell will make the case that they are doing everything possible to make sure it doesn't and in the event that oil does spill they have 15 ships on hand -- 15 dedicated ships for the two temporary oil rigs out there that will sit there off the oil rigs. they will wait and watch to see if there is a spill. they hope to clean it up immediately before it gets a chance to get toward shore. kyra? >> thanks so much, miguel. to catch the special report "cold wars, the fight for arctic oil" it will air this week on erin burnett out front at 7:00 p.m. eastern. >>> a squik stock market update. let's go to the big board. dow industrials up 81 points. a party? [ music plays, record skips ] hi, i'm new ensure clear. clear, huh? my nutritional standards are high. i'm not juice or fancy water, i'm different. i've got nine grams of protein. twist m

. >> look at exxon valdez, the gulf of mexico, look at the different things -- they said nothing won't can happen. >> reporter: for the outside world, there is little trust. the animals were hunted to near extinction in the 1950s, operation chariot was a plan to make a deepwater port by exploding six nuclear bombs. >> we could go 300 miles that way. >> reporter: this is an abandoned traditional home. he says shell is moving too fast. what what he wants is more study. sounds like this is going to happen. >> oh, yeah, i can feel it. it's kind of scary to see what's going to happen this summer. >> reporter: a global struggle for oil, a tiny place and its way of life caught in the middle. >> miguel, it's a fascinating series, fascinating story. the people of point hope clearly are opposed to drilling, conditioned about what could occur. but a lot of their colleagues up there clearly are in favor of it. >> they did vote in favor of it. it's part of barrow, alaska, the big town up there. they get four votes in the assembly there. they got other towns to vote with them. it is going ahead with

. >> reporter: kirk found himself 55 feet below the top of the worthington glacier, in valdez alaskawithout equipment without a jacket he was hiking with his brother troy during a trip to the state with his grandparents a witness saw it all. >> he was very fragile and very bad shape when they finally got him out. five hours with just basically his skin pressed against the ice his clothing had been torn away as he slid down the ice it was not a very good place to be. >> reporter: a place that made it impossible for searchers to initially see him let alone rescue him. >> the spot where he was wedged was roughly 14 inches wide and 55 feet down. >> reporter: his grandfather was the first to climb the glacier and look for him before the rescue team arrived later a team dislodged him before lowering him 2400 feet in a basket to the helicopter waiting to air lift him to the hospital >> i don't think they really understood how dangerous it was. >> reporter: kirk's parents and best friend later learned of the accident. >> i didn't believe it. i didn't know what to think. >> reporter: he plays

. >> the oil spill from the exxon valdez is still coming up in the sand on beaches 23 years later. there's absolutely no world experience that tells us that we could address and clean up a spill in the unforgiving waters in the arctic. there's no reason to believe that this is a safe way for us to move forward. >> you know, make sure you tune into "outfront" next week for a special report, cold wars, in which we'll be taking a much closer look at drilling in the arctic and all that it does or might mean. it's been 341 days since the u.s. lost its top credit rating standard & poor's. what are we doing to get it back? well, apparently not enough. the credit rating agency fitch this afternoon once again confirmed its top aaa rating for the u.s., but it also stuck with a negative outlook saying government budget uncertainties and turmoil in european markets makes the future look kind of dicey here. >>> our fourth story "outfront." president obama doubles down, reiterating his pledge to extend the bush era tax cuts only for people making less than $250,000 a year. >> i believe that we s

. >> reporter: vito valdez spends part of his time in el paso, texas, and part in detroit, where he teaches and paints. his family, like many mexicans, came here to work in the auto industry decades ago. his murals that celebrate his heritage adorn many buildings, and there are plenty to adorn. but he acknowledges that some of the outdoor graffiti isn't really art. >> the stuff's great. the only thing is when we get some gang tags, groups that want to mark their turf, and that's where things get a little rough. >> reporter: things have been rough in detroit for a long time. and so it's a town where real and so it's a town where real estate is cheap, and artists can thrive and >> reporter: 57-year-old gilda snowden-- a detroit native and expressionist painter-- has watched her city decline, never giving up hope. she works in a spacious studio in an old building where artists are welcomed. her work has been influenced by the graffiti that surrounds her. she says some old aphorisms apply to detroit. >> "a bohemian can live and an animal will die." another one: "artists make real estate." artis