35 Burst results for "Five Million Barrels"

Gas prices drop to $1,79 and $1,40 a gallon in the Washington, DC area and Houston respectively

News, Traffic and Weather

00:55 sec | 5 months ago

Gas prices drop to $1,79 and $1,40 a gallon in the Washington, DC area and Houston respectively

"Price of crude oil has dropped into negative territory here's ABC's Cuban details which basically means sellers must pay buyers to take barrels off their hands this is a once in a hundred years or something that the industry is as never seen before why is this happening with planes on the ground roads empty and businesses closed the barrels of oil are just piling up with no where for energy companies to store them the president looking to use the price drop to build up our oil reserves saying this Monday and we're looking to put as much as seventy five million barrels into the reserves themselves that would top it out that would be the first time in a long time it's been topped up again for the right price consumers could also benefit from tumbling gas prices here's what we saw in the DC area a dollar seventy nine a gallon in Houston a dollar forty that's less than the national

ABC President Trump Houston DC
Donald Trump comments on oil prices crash as he announces US will fill up national reserves to max

America Tonight with Kate Delaney

00:27 sec | 5 months ago

Donald Trump comments on oil prices crash as he announces US will fill up national reserves to max

"Meeting president trump at the White House daily coronavirus briefing addressing the price of oil which crashes to a historic low of minus thirty seven dollars a barrel this is the Dow drops more than five hundred points because of continued coronavirus concerns we're looking to put as much as seventy five million barrels into the reserves themselves that would top it out that would be the first time in a long time it's

White House DOW President Trump
Coronavirus, Oil, and Kansas

Planet Money

07:11 min | 6 months ago

Coronavirus, Oil, and Kansas

"Okay Jacob first thing. We've got to talk about here. Is OPEC the Organization of Petroleum Exporting Countries? Which is this amazing global economic thing. Yes so okay. Opec goes back to the nineteen sixties. That's when a bunch of oil. Exporting Countries all got together and they ask themselves this basic question. Why are we all competing with each other? Why are we all pumping more and more oil and selling it for lower and lower prices when instead we all just get together and agree to limit production and sell oil for a higher price? So they formed. What's called a cartel? A cartel is basically just a bunch of different people or companies who are in the same business or industry and they get together and agree to limit production and coordinate prices. Doing this form. A cartel is any industries basically. It's their dream. Come true you know. Instead of competing out in the brutal world of the free market you just carve up the market with your pals and let the prophets role. In in fact the only reason more industries don't do this don't form cartels is because it is wildly illegal if all say that airlines in America got together and decided. Let's just coordinate on routes and fares and they got caught. They would be massive legal trouble but those. Us rules don't apply to the countries and OPEC they're Muslim countries in the Middle East and Africa. And they're those oil industries are largely controlled by their governments themselves. So they're oil. Ministers can get together and decide how much oil each country is going to produce for decades OPEC was this cartel unofficially de facto lead by Saudi Arabia. That had all this power over the world's supply of oil when OPEC decided to cut back. The price went up when they decided to pump more. The price fell and then just in the past decade or so that changed fracking took off the United States and suddenly the US was producing all this oil and the US of course the oil industry is private not public the US is not part of OPEC so the rise of US oil production meant that the Saudis and the other OPEC countries could no longer cut back on production and control. The price like they used to. The cartel was just not that strong anymore so to fight back. Opec got bigger the teamed up with Russia. We don't really think of Russia as a petro state but it sort of is. I didn't really realize this before we started working on the story but along with Saudi Arabia and the US. It's one of the three biggest oil producing nations in the world. Something like half of its government. Budget comes from oil and gas revenue. People started calling this new group of Saudis and the Russians and everybody else OPEC plus sounds like a boring streaming service. Actually a pretty effective global mega cartel and in two thousand sixteen the OPEC plus countries agreed to cut production. Prices started going back up and the cartel dream was back. The cartel was working until just a few days ago when something at the cartel went horribly wrong and Mary. When we came in Monday morning we saw this stuff happening in the oil market. I asked You like. Who Should we talk to? So my immediate thought was Ed Crooks if I have to phone a friend on oil. I'm calling Ed. He used to cover energy at the times for ages. Now he's at an energy consultancy. Wood Mackenzie so on Monday. Ed came in to help us make sense of what was going on. It's one of those days that you get very very rarely In life very rarely the oil market or in any other business which is a really dramatic unexpected event. That completely changes your world. Ed says okay to understand what is just happening in the past few days with oil. Start by going back. A couple of months. Think about China's response to the corona virus. Which of course we've heard a lot about but this time think about it from the point of view of oil what we saw in China were these very very Severe measures in order to curb the spread of the virus and so there's a lot of factories closed huge restrictions on travel. People would not driving around goods. Not being trucked around people would not flying and so all of those things hit oil demand in China in particular and China is the world's biggest oil importer so in the first few months of this year the global demand for oil fell by the most since the financial crisis more than ten years ago and the price of oil just started falling so just last week. The country's in OPEC in the oil cartel got together to do what cartels do European countries got together on Thursday. And they said right. This is all plan. We need to count a production by one point five million barrels a day to the end of the year we should bring the oil market back into balance. And that way everybody. Happy and prices will stabilize so that is old school. Saudi led OPEC the next day. They go to meet with. Opec plus basically adding in the Russians. The Friday you start hearing noises from the Russian Camp. Well then not happy about this. They weren't necessarily going to go along with it. So it's getting weird. There are delays. It's clear that not all is well. It's clear that you aren't just going to have an easy agreement. Everyone coming out and smiling and shaking hands or maybe not shaking hands and saying yeah. We've all agreed on this. One point five million barrels a day cut and the time dragged on and then the meeting kind of broke up in chaos and the this was the really kind of telling a comment when the Russian Energy Minister Alexander. Novak walked out of the meeting. He said everyone can pump as much as they want. He said you can pump it will. What did you think when you heard what had happened so I thought wow with my first reaction? I thought that the edited version. I mean the whole point of a cartel is UK at pump as much as you want right exactly. That discipline is everything. A cartel needs to things. It needs as larger market share as possible as many members as possible and it needs discipline and on Friday. It seemed to lose both of those things and then in the days after the meeting Russia and Saudi Arabia both went further. They said okay. Not only. Are we not going to cut production. We are going to increase production that promise of increased supply. Even as demanded falling led to that giant fall in oil prices on Monday. There is this really basic question here. Which why these countries have this dream thing that most businesses would kill for a cartel they can rig the market in their favor. All they have to do is agree to cut production. Why didn't they do that? The absolute truth of the of the. Why did this fall apart? One is that we are still trying to find out I'll selves. We don't really know but it does have an educated guess. It's frankly the best explanation I've heard for what happened and I love it because it speaks to. What's going on here with OPEC but it gets at this really basic kind of human tension that exists in any cartel. It works like this everybody in the cartel agrees yes sure we should cut production and

Opec Saudi Arabia Ed Crooks United States Russia Jacob China Middle East America Russian Camp Wood Mackenzie UK
Why are oil prices dropping?

Monocle 24: The Foreign Desk

04:42 min | 6 months ago

Why are oil prices dropping?

"Late last week. The Organization of Petroleum Exporting Countries OPEC a cartel of thirteen major oil producers met in Vienna OPEC agreed to cut their total output by one point five million barrels. A day an attempt to stabilize the price of oil in the face of slumping demand Bright US situation. We have over two subtitled. The market is necessarily OPEC non-opec something for the OPEC needed to sell this pact to Russia which is not a member of the organization but has generally seemed an amenable ally in recent years. We are hoping that I share Is Very Important member. They've been working with us for a very long time. And I think we understand each other. Now we look forward to To good meeting I cannot see. Us Not agreeing. Because that's very important for the market and everyone is keen. Not this time. Russia refused to cut its production by way of retaliation. Saudi Arabia opened. Its taps further and offer discounts on top Saudi production. Next month will be at least twenty five percent higher than Saudi production last month. Russia then threatened to increase its production to a record. Eleven point eight million barrels a day. The consequence of the unleashing of these cases was that oil prices plummeted further and faster than any time since the first Gulf War in nineteen ninety. One the barrel of Brent crude he bought for nearly sixty dollars just two weeks ago. You couldn't sell for more than thirty six bucks today. Don't WanNA check his prices. Because this plunge US remarkable folks it was on reports that Saudi Arabia slashing prices and increasing supply this after talks with Russia collapsed prices down more than twenty two percent earlier today the biggest loss since launch of the Gulf War. If one takes an extremely narrow view of this. It's not altogether bad news. Indeed the world's preeminent narrow view taker. Us President Donald Trump tweeted on Monday as oil prices charged towards the earth's core good for consumer gasoline prices coming down. The broadview was somehow condensed into the reply to this tweet by twitter. Use a cold. Michael Hayden ought to extend to him. His full title retired Four-star. Us Air Force General. Michael Hayden former director of the Central Intelligence Agency and the National Security Agency. Hayden spoke for many in the US and elsewhere when he tweeted simply pithily. Oh my God it is of course far from the first time that president trump has done a convincing impression of a self involved illiterate simpleton who has absolutely no idea what is going on or what he's talking about. So what are we looking at here? More specifically what in the wide world of sports is Russia playing at especially since its economy in recent times has been so reliant on the price of oil staying on the high side where. Russia is concerned. One should never rush to discount the possibility that they're just winding everybody up but Russia may also have spotted an opportune moment to strike at a potential rival America's shale oil industry. The fracking of the United States were already running up immense debts against expected future discoveries and anticipated future earnings bargain-basement oil prices could finish more than a few of these companies off prior to a recovery. Yesterday some oil explorers like dental petroleum of Houston saw their share prices have Russia may also be biting back against American sanctions against Russia's energy sector last month Russian oil giant Rosneft helmed by Longtime Vladimir. Putin Associate Egos session was punished for transporting Venezuelan crude. I'm sure there will the efforts to get around the sanctions already. Rosneft is doing this. For example by changing the names of ships or ship to shift transfers to try to hide the Venezuelan origin of oil. It remains to be seen how long Moscow can outstay a Riyadh while Russia cannot compete with Saudi Arabia's production nor is it as reliance on oil to function oil revenues thirty seven percent of Russia's budget compared to sixty five percent of Saudi Arabia's Russia has suggested that it might be open to renewed talks with OPEC whether these happen or whether anything comes of them or not. This would not be the first time that Russia has chiefly pursued a policy that hurts Russia. As long as it hurts everyone else. More

Russia United States Opec Saudi Arabia Michael Hayden President Donald Trump Vienna Rosneft Twitter President Trump Putin Central Intelligence Agency Riyadh Moscow National Security Agency
Oil Prices Dive as Saudi Arabia Takes Aim at Russian Production

America's Truckin' Network

02:24 min | 7 months ago

Oil Prices Dive as Saudi Arabia Takes Aim at Russian Production

"So the headline from Barron's this morning says your retaliation that's the best way to describe Saudi Arabia's response to the latest OPEC meeting Russia a non OPEC member refusing to agree to OPEC's demands to cut one and a half million barrels per day that in turn leads Saudi Arabia the state oil giant Aramco to announce they would open the spigots and cut their prices by upwards of six dollars per barrel that's what caused the huge crude price dropped some thirty two percent Sunday night to about twenty eight dollars a barrel levels not seen since the bottom of the last crash February of twenty sixteen okay so bad that Iranian petroleum minister yeah I called this meeting one of the worst meetings ever some of these OPEC meeting to get kind of contentious right it is a complete break down he says the founder of the commodity oriented hedge fund L. gal Terry says that that we could go down below twenty dollars per barrel he did not predict the crash but we've been preparing for it we believe that over production in the U. S. from fracking and the rise of alternative energy would eventually put a damper on prices and that's where we are for sure at this point in time yeah coming into twenty twenty the expected prices to be yet range bound after ending twenty nineteen at sixty one dollars per barrel their bridges project team yep fifty five dollars per barrel then of course the corona virus news broke and they they edged things down to about forty eight dollars per barrel no this if producers didn't agree to the one point five million barrels a day cut yeah we could go back down to the prices we saw in twenty fifteen to twenty sixteen and that appears to be what is coming to fruition on this Monday

Barron Saudi Arabia Russia Opec Aramco Founder Terry
Oil prices climb ahead of OPEC meeting to discuss supply cuts

Bloomberg Daybreak: Europe

03:41 min | 7 months ago

Oil prices climb ahead of OPEC meeting to discuss supply cuts

"But let's also talk about one of all of the stories this morning of course which is the APEC plus ministers meeting in Vienna emergency talks that own oil output and also the white at price in the market said this and said the IHS Markit says the old amount is actually headed for its worst ever quarterly drop in prices slumped twenty percent this year alone and yet Saudi Arabia and Russia remain split over the prospect of deeper production cuts as the current of always weakens global to Montel we joined this morning by the banks and me who died he was in Vienna for us good morning Ameri great to speak to you look it's it's quite typical isn't it it's a Riyadh and Moscow often quite Varma Paul to heads of the me saying what channels do you think that a deal without if you get done yeah that's exactly right we've seen this dance before this negotiations drawn out between Moscow and Riyadh they basically been turned out all of February because remember Riyadh wanted to move up the meeting an act urgently the question is as you say is this smoke and mirrors to try to surprise the market or is it a real serious split what we know right now is that Moscow could be more partial to just a rollover of the current supply cuts the ones that they've already decided on Riyadh wants a deep and them to one to one point five million barrels a day what's clear from the market is if they don't cut deeper we could possibly and definitely see actually definitely see a selloff in these oil prices in the Emory I mean is this a situation where unity will hold whatever comes out of this will everyone stick with it yes what happens in the OPEC buses they do normally stick to it kind of it's a bit of a fudges has they think is the best way to say Roger and I say a bit of a fudge because mostly what happens is Saudi Arabia and some other countries notably like Libya which is offline pretty much at the moment Venezuela they'll make up for some the deeper cuts that other countries have cheated in the past notably Iraq and as well as Russia Russia for sure has been the big winner at this whole OPEC plus deal Putin has been able to maintain this present in the Middle East is given a lot of Middle East clout on top of that financially they've been the beneficiaries of this club because Dave born much less of a share of these cuts than Saudi Arabia so Saudi Arabia note most notably like last time we'll just take on an extra burden because they want to see the prices pop Saudi Arabia needs eighty dollars a barrel about to budget their books while Moscow can do it on forty yeah absolutely is that price differential isn't that is so important but look is it is also a kind of an unprecedented moment isn't it this is a shock to the world economy because of coronavirus and that food to the oil market so it is kind of unprecedented to it's completely unprecedented we have flights canceled schools closed towns quarantine we're seeing serious demand destruction for only the fourth time in almost forty years oil consumption may not grow at all this year that's what some of a growing group of traders investors and analysts keep saying and Goldman Sachs this week first major of the Wall Street banks to forecast a contraction in demand this year and then you look at also wider picture not just the oil price what does it mean for the sector in Europe only five percent is made up of energy shares in the stock six hundred the benchmark index in the United States we had the sector in a bear market and this morning Jefferies put out this note that I just love because I'm a Yankee fan they say it's at the nineteen sixty two Mets let me tell you what the nineteen sixty two Mets did as a baseball team in New York yeah they lost a hundred and twenty games only one forty that's like the worst known team in baseball history and Jeffries is just saying we're done with it or J. and that's where the world

Apec
Oil price jumps on fear of Iranian retaliation against US

KCBS Radio Weekend News

03:56 min | 9 months ago

Oil price jumps on fear of Iranian retaliation against US

"Twenty the US airstrike that killed Iranian military general Qasim so money has shaken things up for the United States on the geopolitical front but what does the escalation intentions mean for the financial markets for more KCBS is Jeffrey Schaub spoke with Morgan Stanley financial adviser George in a chatty so how has this impacted the markets and how might this impact the markets coming up well Friday morning it was a surprise and the stock market does not like surprises so it reacted negatively but was rather muted the indexes were down about three quarters of one percent yeah yeah that's not unusual for the market last year we had about forty giants with the market was up one percent are down one percent and this was in light of probably one of the best stock markets we've we've ever had but let's look at what happened Friday to the stock market specifically immediately we saw oil rally a barrel of Brent crude went up about three point five percent to about sixty eight point fifty eight dollars and that's that's important because the market fears that Iran could retaliate not directly one on one with the United States but really more attacking oil and upsetting the global economy Iran could I easily attacked tankers are out in the open ocean and that would raise the price of oil significantly the kid destructive flows of oil through the strait of promotion that's were twenty percent of the global supply of oil really travels through where they can attack the oil into structures as they had just recently so if those things happen that raises the price of oil that means the cost of goods go higher that is six currencies in really does upset the market so the market was kind of reacting to that yeah but we also saw is that areas where there's safe havens we saw cash flow today on Friday gold as an example client one point one percent to one thousand five hundred forty five dollars an ounce that's of forty a four month high in treasuries and that sort of thing words were to say say that we saw a lot of money to flow into that so the real issue really is is oil and that effects on a short term basis being the novice than I am in you know I was a little surprised at the markets and you take a huge dive after this but maybe that's an indication that they're not worried that something huge is going to happen in retaliation this is there in a very very strong stock market I mean last year we had a tree disagreements with China and Mexico Branson really the world we had brexit who could impact the so what we had a president a peach cherry is your things that normally bring a market down but having said that I mean if you own airline stock you saw it online stocks fall quite a bit on Friday because airlines really dependent on the price of the price of fuel in the end you also have gas producers here in United States that have positions really in in Iraq and the major oil companies here that states in Iraq and so that could hurt those companies so there's a lot of unknown right now I mean this happened on a Friday so we get the weekend to kind of think about it we don't expect any action to be taken by around so probably shortly after that they're they're still grieving the assassination of the Iranian revolutionary had that would be the equivalent really of assassinating a vice president here I mean it's a big deal there's gonna be some repercussions it's going to cost of destruction but again the United States is pretty strong economically I mean energy wise price well can can be race but we have a huge supply of oil here with their new technologies and fracking we've been able to produce really almost another oil last year the last week actually we we broke a record and oil production it is four point five million barrels of oil per day yeah we could do more so destruction will be really in the short term because we have so many strong economic parts of our economy but again it's really fear the unknown we don't really know how to strip that this will be in the Middle East and the effect of that on the global

Qasim United States
"five million barrels" Discussed on 760 KFMB Radio

760 KFMB Radio

03:21 min | 1 year ago

"five million barrels" Discussed on 760 KFMB Radio

"Morning it is seven minutes past the hour I guess were set to get this week underway producer David oziel an audio engineer Alec center in the control room Bob Constantini is at the White House where president trump is raising the specter of U. S. military action against Iran this in the wake of the drone attack that has crippled much of Saudi Arabia's oil production Bob tells us the Saudis themselves are not blaming Iran but the president seems to be Michael president trump tweeting Sunday about the drone attack on Saudi oil facilities there is reason to believe that we know the culprit are locked and loaded to depending on the verification it is the president talking tough again on Iran a nation that supports the rebels in Yemen who've claimed responsibility Democrat Adam Schiff is chair of the house intelligence committee it's safe to say that they who things don't have the capability to do is strike a like this without a running assistance ship was on CBS's face the nation the Iranian foreign ministry points out that having failed in its maximum pressure campaign the United States is willing to engage in maximum deceit the in many rebels who claimed responsibility for the attacks they they carried out in Iran was not involved and the Saudis have not pointed the finger at Tehran the two enemies are fighting a proxy war in Yemen Republican senator rand Paul is leery of any truck military action against Iran this is a regional conflict there's no reason the super power of the United States need to getting into a bombing mainland Iran it would be a needless escalation of this thanks to Bob Constantini at the White House and of course as you might expect all this as sent crude oil prices surging and that prompted the president to authorize the use of oil from the country's emergency reserve we have more on that from correspondent bill Michaels bill Michael president trump in a series of tweets said that he had ordered oil from the strategic petroleum reserve SPR be used if needed he said he would use enough oil sufficient to keep the markets well supplied industry analyst trilby Lundberg says the long term impact of the strikes is not yet known. attacks on Saudi Arabia have knocked out about half of that country's production being its biggest processing facility and the second biggest oil field unfortunately the duration and severity of the damage is not yet known the S. P. R. contains six hundred forty five million barrels of oil and has been drawn on only three times most recently in June twenty eleven when civil unrest in Libya on several global oil exports Michael thanks bill bill Michaels reporting for first light where it is nine and a half minutes past the hour we're going to have more and what that might mean for prices here at the pump later this morning nearly fifty thousand United auto workers went on strike at midnight and will be on the picket lines today correspondent Clayton novel tells us contract talks miss the deadline Michael it's the first national UAW strike since two thousand seven when GM workers were out for two days the action doesn't include fourteen fiat Chrysler automobiles whose contracts were extended wall the union tries to negotiate a deal with GM the strike affects GM plants in Michigan Ohio Tennessee Kentucky New York Texas and other places across the country our local workers are standing up for America's middle class and we will not be diverted union spokesperson Brian Rothenberg with the union demand fair wages.

six hundred forty five million seven minutes two days
Attack on Saudi leaves world without spare oil capacity

Leo Laporte

00:26 sec | 1 year ago

Attack on Saudi leaves world without spare oil capacity

"A drone attack hit the world's largest oil processing facility and another major oil fields in Saudi Arabia more from correspondent Ben wedeman sources familiar with Saudi oil operations are saying that five million barrels per day have been knocked out of production that's about five percent of the world's oil supply Yemen's who the rebels claimed responsibility for the strikes but secretary of state Mike Pompeii blamed Iran for the

Saudi Arabia Yemen Mike Pompeii Iran Ben Wedeman Five Million Barrels Five Percent
Yemen Houthi drones hit major Saudi oil sites

THE NEWS with Anthony Davis

01:45 min | 1 year ago

Yemen Houthi drones hit major Saudi oil sites

"Group has attacked two plants at the heart of Saudi Arabia's oil industry including the world's biggest petroleum processing facility the pre-dawn drone attack of these Saudi Aramco facilities spunk several fires although the kingdom the world's largest oil exporter later said these were brought under control a spokesman demand for the Iran aligned healthy group in Yemen said it had deployed ten drones in the attack one source said five million barrels of crude production production had been impacted close to half the kingdom's output but did not elaborate the attacks come as Aramco accelerates plans for an initial public offering offering of the state oil giant Azaleas this year and follow earlier cross-border attacks on Saudi oil installations and on oil tankers in Gulf waters. Today's attacks appear to be the most brazen yet Saudi Arabia leading a Sunni Muslim military coalition that intervened in Yemen in twenty fifteen against the how these has has blamed regional rival Shiite Iran for previous attacks which Tehran Denies Radia accuses Iran of arming the how these a charge charge denied by the group and Tehran authorities have not reported on casualties a witness nearby said at least fifteen ambulances were seen in the area area and there was a heavy security presence tensions in the region have escalated in recent months after the United States quit an international nuclear deal an extended economic sanctions on Iran. The violence is complicating. UN led peace efforts to end the Yemen war which has killed tens of thousands thousands and pushed millions to the brink of fanning

Saudi Arabia Iran Yemen Aramco Tehran Group UN Radia Gulf United States Fanning Five Million Barrels
Houthis claim drone attack on Saudi oil plant

Bloomberg Business of Sports

00:22 sec | 1 year ago

Houthis claim drone attack on Saudi oil plant

"As we've been reporting Saudi Arabia's oil production was cut by half after ten exclusive drones struck at the heart of the kingdom's oil industry Bloomberg has learned Saudi Aramco has had to cut production by as much as five million barrels a day after the attack on the plant Hootie rebels in Yemen who have launched several drone attacks on Saudi targets claimed

Saudi Arabia Bloomberg Saudi Aramco Yemen Five Million Barrels
Company pledges to clean up oil from facility damaged by Dorian

KYW 24 Hour News

01:01 min | 1 year ago

Company pledges to clean up oil from facility damaged by Dorian

"Hurricane Dorian damaged and oil storage terminal on grand Bahama island the extent of the leak is on clear so far Eric Holland is with Ecuador owner of the facility the facility has a capacity of three point seventy five million barrel at the time the hurricane hit one point eight million barrels of oil with lord in three different packs cleanup and damage assessment are underway Dorian's post tropical cyclones slicing across the Canadian merit times now there is still a concern for a dangerous storm surge and portions of the Gulf of St Lawrence of the southwestern coast of Newfoundland and portions of eastern Nova Scotia today Daniel brown at the national hurricane center hundreds of Bahamian seven airlifted to South Florida their encounter with the storm when it was a hurricane still very vivid. thirty five people known dead on OB echo eight on grand

Hurricane Dorian Grand Bahama Island Eric Holland St Lawrence Newfoundland Nova Scotia South Florida Ecuador Daniel Brown Seventy Five Million Barrel Eight Million Barrels
Ukraine and Russia exchange prisoners.

THE NEWS with Anthony Davis

06:02 min | 1 year ago

Ukraine and Russia exchange prisoners.

"Coming up on the nears Boris Johnson Johnson could be jailed for refusing to seek brexit delay Ukraine and Russia exchanged prisoners in landmark the deal and staggering death toll feared in Bahamas off the Dorian destruction it Saturday September September seven. I'm Anthony Davis the UK leader of the opposition. Jeremy Jermaine Coleman is warned Boris Johnson. He is not above the law after the prime minister suggested he would refuse to seek another brexit extension despite MP's passing being a bill to prevent a no deal they are preparing for chaos the best thing they could do is actually make sure he abides by the decision of parliament which has passed a new act in order to prevent crushing out on the thirty first of October and extend for three months in order for there to be sensible negotiations with the EU any sensible prime minister would do that said Mr Coleman legal experts have warned Johnson could face prison if he refused to abide by the bill which was passed asked on Friday and is set to become law on Monday Lord McDonald's the former Director of public prosecutions said if Johnson refused to request an extension engine he could be found in contempt of court. McDonald's said he won't get any cooperation apart from the fanatics around him. The Attorney General won't sit there quietly widely while this happens Johnson wrote to the conservative membership and suggested he would not obey any legislation that required him to ask for an extension they just just passed a law that would force me to beg Brussels for an extension to the brexit deadline. This is something I will never do he wrote. McDonald's said he suggestion Johnson. Could the imprisoned was not an extreme outcome as it was convention that individuals who won't purge their contempt was sent to prison a in Russia and Ukraine have completed a long-awaited exchange of prisoners those freed include twenty ninety four Ukrainian sailors and controversially a person of interest over the downing of flight. Moh Seventeen which killed two hundred ninety eight people the swap is hoped to ease tensions between the two neighbours greeting the Ukrainians at the airport President Vladimir Dolinsky said we have to do all the steps APPs to finish this horrible war. Russia said it was glad its citizens had returned home relations between the two countries deteriorated dramatically in two thousand fourteen when Russia annexed Ukraine's Crimean peninsula and Russian backed rebels began an insurgency in two regions of eastern Ukraine Russian officials issues of said progress towards the prisoner release is vital for improving the atmosphere surrounding a settlement of the Ukrainian crisis negotiations on the extremely sensitive issue were held in complete secrecy with both Ukrainian and Russian officials stressing that any leaks could derail the swap. Russia Russia has not yet confirmed the names of the prisoners who've been released by Ukraine. It's arranged a low profile arrival at Moscow's newco airport with initial reunions kept behind behind closed doors in Ukraine. The scene was very different. The prisoners freed by Russia reunited with their relatives on the tarmac surrounded by the press charities government agencies and even cruise ships loaded oded with supplies and volunteers a struggling to get emergency aid to the storm ravaged Bahamas today amid fears of a staggering death toll left in the wake wake of Hurricane Dorian Bahamas leaders believe hundreds and perhaps thousands are missing in the islands of about four hundred thousand people even as the the official death toll rose only two forty three as of yesterday large swathes of Northern Bahamas were rendered wastelands by the storm with homes pulverized used cars and boats thrown around like toys and the smell of death permeating the air in parts of Great Apcoa island one of the hardest hit evacuees poured into the capital Nestle and a cruise ship arrived in Palm Beach Florida with some eleven hundred people fleeing the destruction many of them faced uncertain certain futures the US Coast Guard navy was shipping in relief supplies and had already rescued some two hundred ninety people from isolated areas in the island's highlands hard hit by the storm. A major oil storage terminal on Grand Bahama island was damaged by Hurricane Dorian and his now leaked oil into the surrounding funding environment raising concern that the oil could damage local reefs and Wildlife the South Riding Point facility sits on the shore of the island's eastern side and he's home to ten giant storage tanks capable of holding up to six point seven five million barrels of crude according to Ecuador the company that runs the facility Elodie when Dorian struck Grand Bahama late Sunday. The terminal had one point eight million barrels on site. It is not clear how much oil has leaked doc you can subscribe to the news with your favorite podcast. APP or ask your smart speaking. Eh Play the news with Anthony Davis podcast leave us a review on. I tunes and follow us on twitter. At the news underscore podcast for daily updates. The news is an independent production covering politics inequality health and climate delivering honest verified and truthful World News daily.

Boris Johnson Johnson Russia Ukraine Bahamas Anthony Davis Mcdonald Hurricane Dorian Bahamas Jeremy Jermaine Coleman Grand Bahama Island Prime Minister Hurricane Dorian Twitter Moh Seventeen UK Lord Mcdonald Moscow Brussels World News Mr Coleman Dorian
United States, Saudi Aramco And Saudi Arabia discussed on News and Information with Dave Williams and Amy Chodroff

News and Information with Dave Williams and Amy Chodroff

01:14 min | 1 year ago

United States, Saudi Aramco And Saudi Arabia discussed on News and Information with Dave Williams and Amy Chodroff

"Well at that point will. Goes firmly above sixty six closing the week just below sixty four after a brief pullback at it means countries cannot do business with the United States if they're importing Iranian oil. The Iranian oil is likely to leak out of Iran through illicit means I guess illicit according to the United States, but. Will there will be some supply? They were three million barrels a day. So notice that's about five million barrels a day called into question in recent headlines, Saudi Aramco's actual capacity versus the Iranian estimated three million barrels a day. The Saudis said to plan cautious response to US action own Iranian oil. The kingdoms caution stems from experience when Trump I said last year he planned to drive Iranian exports to zero Saudi Arabia took the threat literally responded to pressure from the White House by boosting production, and that may be one of the premises towards the end of the week.

United States Saudi Aramco Saudi Arabia Iran White House Three Million Barrels Five Million Barrels
"five million barrels" Discussed on Monocle 24: The Monocle Daily

Monocle 24: The Monocle Daily

01:36 min | 1 year ago

"five million barrels" Discussed on Monocle 24: The Monocle Daily

"But there is still an element of European resistance to what America is trying to do. Yes, you're right. The Europeans have provided moral and symbolic support against Washington. This is not a multilateral effort filleted, Iran. This is just an American one. And that is of course, very important. And then the are peons have been trying to develop a special purpose trade vehicle to facilitate humanitarian trade between European countries. Iran that still hasn't gotten off the ground in their still roadblocks there, I I still think those ties are very important any Ron is gonna try to leverage them. But ultimately, none of Iran's bilateral relationships have proven to be strong enough to resist the pressure of the United States of ending. These oil way is to completely cut off oil revenues for Iran. Not since big a source of income on. I mean, it's going to succeed isn't it's going to have a huge impact. I don't know if they're going to succeed in bringing Iran two zero which is what the Trump administration regularly says as their objective, but they will be able to significantly bring Iran's oil oil sales down to maybe five hundred barrels a day, which is a major reduction from the two point five million barrels a day. They were selling let's say a year and a half ago, for example. So this is a huge laws, but Iran already wasn't able to repatriate the revenues..

Iran America Washington Ron United States five hundred barrels five million barrels
"five million barrels" Discussed on WAFS Biz 1190

WAFS Biz 1190

02:37 min | 1 year ago

"five million barrels" Discussed on WAFS Biz 1190

"Speak. She will be questioned and whether she is released or not. We'll find out. Huge problem and concern and this reignite strayed worries. That's the number one concern that is one thing that is obviously going to be driving markets today in a negative way. The other big story and concern is oil. Oil. So here's the deal OPEC meeting in Vienna. Vienna as we speak, and they are in talks about production cuts earlier this morning or this afternoon early in Vienna time the. Minister of oil for Saudi Arabia indicated that yeah, there may may not be cuts in production or maybe cousin production. There may be increase in production slow down and they're talking about a million barrels. If there is. Well, most traders going into OPEC meeting believe that production cuts would be somewhere around one point three to one point five million barrels. They came out talking about one million. That's a problem. They believe that the cuts have to be greater the problem is Saudi Arabia's getting man with a lot of concerns from other OPEC nations OPEC nations say why do we have to cut all the time? Why can't the United States cut? So that is that is a big issue right now. Of course, the cutting OPEC will impact what they care most about which is Brent crude oil, which is at an unbelievable low right now. Impacts. Brent crude oil where if you s cuts productions we aren't as big a player in Brent crude oil or global oil supply as as OPEC is. So we're not gonna have the same impact on driving. Brent crude oil prices up. Of course, we will when it comes to driving. West Texas intermediate oil up now, it is expected that President Trump is going to be concerned about this and outraged as he has been asking OPEC for.

OPEC Saudi Arabia Vienna Brent President Trump United States West Texas five million barrels million barrels
Oil prices rise as Iran's crude exports fall

Business Rockstars

00:20 sec | 2 years ago

Oil prices rise as Iran's crude exports fall

"Recouping their losses from the previous session and finding support from signs that Iran. Crude exports off ahead of reimpose sanctions market. Participants also eyeing any risk to energy and fracture as hurricane Michael heading for the Gulf of Mexico. West Texas intermediate crude for November delivery on the New York Mercantile Exchange rising zero point two percent to seventy four dollars and forty seven cents a barrel. The global benchmark Brent crude for December delivery gaining zero point five percents eighty four dollars and thirty two cents a barrel on the features Europe exchange, Iran, exporting only one point one million barrels a day of crude and the first week amok Tober Reuters reported versus one point six million barrels a day in September two point five million barrels a day in the spring. This is biz

Iran New York Mercantile Exchange Hurricane Michael Tober Reuters Brent West Texas Europe Mexico Five Million Barrels Seventy Four Dollars Eighty Four Dollars One Million Barrels Six Million Barrels Two Percent
"five million barrels" Discussed on KTRH

KTRH

05:16 min | 2 years ago

"five million barrels" Discussed on KTRH

"Exxon's new supply. And demand report that was released recently and you know this report is many pages t to it lots of technical information that. Really only people like. You engineers understand but there is some data in here and the Intel that is very relevant to anyone who is trying. To, understand oil and gas and we're oil and gas is headed. Over the next several years and even on a longer term basis the, next, ten, twenty thirty years so Mark your thoughts, on, the, Exxon annual supply and demand report. Yeah I you know. Both Exxon and be put out an reports that I think you can just log onto their website and get They're really great and what's interesting is when you look at the. Exxon report they are saying the same thing that I have. Been saying on the show for three years if you took today's, production of ninety five million barrels per day and you extrapolate that out to the year twenty forty with no investment at whatsoever now, worse I I'm not gonna drill another well I'm not going to. Refracted well I'm just gonna produce the, wells that we have at this. Period and go forward to twenty forty that amount of oil would? Decline, from, ninety five, million barrels a day to twenty million barrels a day we've got all so that we would have a shortfall Eighty million barrels a day and so what they're. Saying is if we don't want to have that shortfall You know we have to invest a significant amount of. Money, which is you know roughly, about four, hundred billion dollars a year so that there is no shortfall now the report also says that you know there's easily a hundred and fifty years of supply of oil. In the ground at least so oil and gas is going to be around for a, long long time but in that investments on that four hundred million dollars of investment in keeping the production we always want our listeners. To get in on that because the returns for oil? And gas, are great, along with great tax benefits could we talk, about the tax benefit a little. Bit and we you, know we, have new listeners tuned in every week Bosh that have heard about it maybe they have a you know they've, heard that the people that invest in oil and gas projects that have, direct ownership get a tax break but take us through it and. Maybe just give us the broad, stroke the cliff notes on what would happen If somebody invested one hundred thousand into an oil and gas. Project, can twenty eighteen for every, hundred thousand, dollars that you invest if you're thirty seven percent tax bracket you're true at risk cost is sixty three thousand because because you're gonna send thirty seven thousand dollars of. That money to Oncle Sam or you're going to put it in your investment and get, to write it off your ordinary income so by writing it off then you're true investment costs is not one hundred thousand is sixty. Three thousand but your return is going to be based? On one, hundred thousand, so for guys who who pay eighty one, hundred thousand dollars a year in. Taxes all and gas, is a, great investment vehicle for both maintaining and enhancing your wealth Robert Cusack you'll tell you to make the investment and, don't care about a return you know he just he thinks the right, off his dad good which it is But you you. Take a little different approach on that don't you boss yeah yeah so, yeah it is a, great great tax benefit but we still want to get some return. On that so you don't want to just a cake you wanted to icing on the cake the people the individuals and if. You look back at history Al meadows, would be an example. Probably ROY Colin in Houston to people to got in and and worked the numbers in other words they didn't do just one project they did a number of different projects every year they were doing projects Al. Meadows what he owned like, twenty three hundred. Wells determine bias a tremendous number of wells and this is, this is a this is not just a one project kind of. Investment this is something to get into and and you know as you as you. Say in baseball you want to get some at-bats this is same thing is real. Estate whether you know you own rental homes or you own small office buildings the. More you, own the better off you are and the more it, spreads or risk Okay so. If you're a? Small, real. Estate, investor, and you're buying let's say you know, buildings to have dental offices in them you know you. Can have one or you can multiply your. Money take your prophet in by more, and more, and more. So you're gonna be better off with, you know twenty or thirty buildings, versus one, or two the same thing in oil and gas you're going to be. Better off with, twenty or thirty wells then have. One or two and just think of so you. Have to wells one, mediocre in, one good well and then the goodwill has some mechanical problem now you're only left, to one mediocre well if you, have twenty or thirty wells you're not as dependent on. The revenue from one.

Exxon Wells Robert Cusack Intel Al meadows baseball Bosh ROY Colin Oncle Sam Al Meadows Houston thirty seven thousand dollars four hundred million dollars ninety five million barrels hundred thousand dollars hundred billion dollars Eighty million barrels twenty million barrels thirty seven percent
WeWork bans meat for employees expensing meals, at company events

Bloomberg Law

02:45 min | 2 years ago

WeWork bans meat for employees expensing meals, at company events

"Video shows georgia police officers laughing as they use a coin flip to decide whether or not to detain the woman during a traffic stop the video obtained by w xiii tv shows roswell police officer courtney browne consulting with fellow officers about whether to arrest sarah web or just give her a ticket after she was stopped for speeding the television station says brown opened a coin flip on her phone and officer christie wilson suggested that heads men arrest entails meant release the flip came up tails but they arrested her anyway both officers are now on administrative leave and the charges against web were dropped i'm mike cremedas actress scarlett johansson is no longer playing a trans man in a movie joe anson dropped out of the film called rub and tug because of heavy backlash from the lgbtq community trans actors criticized joe hanson for taking the role saying it's hard enough for trans people to get working movies as it is i'm mike moss and i'm susanna palmer from bloomberg world headquarters a federal judge said the department of health and human services maybe quote acting in defiance of a court order on immigration and questioned the federal government's commitment to reuniting some twenty five hundred children with their parents separated at the southern border federal judge dana sat bra in a ruling late yesterday wrote that hhs either doesn't understand the court's order or is acting in defiance of the order co working giant we work companies thinks it can help save the environment and the lives of animals the startup has told it's six thousand global staff that they will no longer be able to expense meals including meat and that it won't pay for any red meat poultry or pork at we work events in email to employees this week outlining the new policy cofounder miguel mckelvey said the firm's upcoming internal some are camp retreat would offer no meat options for attendees we work isn't the first company to promote alternatives to eating animals the telegraph citing sources from the industry says amazon is launching its own smart television set developed alongside a group of chinese manufacturers including who i with gas prices rising just a few months before the midterm election the trump administration may be looking at taking action more on that from bloomberg's nathan hager sources tell bloomberg the trump administration's actively considering tapping into the nation's strategic oil reserves they say no decisions been made but options ranged from five million barrel tests sale to a larger thirty million barrel release aaa says the national average for unleaded rose to two eighty nine a gallon friday president trump is blamed opec in the past for rising oil prices in washington i'm nathan hager bloomberg radio.

President Trump Nathan Hager Department Of Health Bloomberg World Mike Cremedas Brown Roswell Georgia Washington Opec Donald Trump Courtney Browne Bloomberg Amazon Miguel Mckelvey
Theresa May Wins Cabinet Backing for U.K. Soft Brexit Blueprint

02:44 min | 2 years ago

Theresa May Wins Cabinet Backing for U.K. Soft Brexit Blueprint

"Adm across emerets five and if you're in london this is bloomberg daybreak middle east i'm used to the dean and the question you gotta ask yourself this morning is is the goldilocks environments to live in the markets jeffrey would say absolutely interesting moves in global markets just by looking at it you wouldn't think that trade tensions are escalating espn closing about nine tenths of one percent higher that is a rally that saw sexist like copper and biotech leading gains this is the highest close in more than two weeks for the sds over ninety percent of the index rising little bit of risk appetite returning ironically we'll get to that shortly those coming around brent crude seventy seven dollars a barrel a little bit lower we had a surprise build in us inventories one point two five million barrels last week specifically that was countered to the bloomberg survey that suggested that build up of course we did rather reached seventy five dollars a barrel for wto for the first time since two thousand fourteen was important week plenty more to digest on the energy front as well keep an eye on cable football might be coming home sending men did very well last night cheers around this office cables up for a half of one percent theresa may wins the backing of a cabinet for what's being called a gangster like soft brexit on a good brexit i comes up jen says about buck thirty four on a dime side scenario a buck twentyfive of course it depends on how the europeans take this one hundred businesses sign a letter saying kill this plan at because it's just too unwielding dollar indexed on a third of one percent i mentioned goldilocks rising jobs no hike in wages the greenback posted its worst wiki declined since march the fourth straight week of a drop and closing hundreds two hundred day moving average for the third week in a row so are dollar having let's get to christine harvey should get you up to speed with all the other stories making the i would headlines christine north korea has slammed the us position on denuclearization during two days of meetings with mike pompeo as gangster like that's just hours after the secretary of state said he'd add goodfaith negotiations with his counterparts in pyongyang the news suggests ask re analysts had feared the two sides remain far apart on their goals and at the north promises are uk prime minister theresa may has won a crucial victory over pro brexit cabinet members after twelve hour meeting her government will now back a wide ranging plan to keep close trade ties with the european union after leaving the block trade that will protect jobs and livelihoods also meet our commitment to northern ireland we've also agreed new business friendly customs model.

European Union Prime Minister UK Pyongyang Brent Bloomberg London Ireland Espn Theresa Mike Pompeo North Korea Christine Harvey JEN Football WTO United States One Percent Two Five Million Barrels
"five million barrels" Discussed on As It Happens from CBC Radio

As It Happens from CBC Radio

03:53 min | 2 years ago

"five million barrels" Discussed on As It Happens from CBC Radio

"Quebec's religious accommodation rules are due to come into effect july first but a judge has already decided that one of those rules will not apply at least not for now it is the one that would have given thority is the power to refuse public services to women who cover their faces for religious reasons catherine mackenzie is the lawyer representing a group of clients who are challenging the face covering ban and she spoke to the cbc's not sunday after judge michael j blah granted a temporary suspension very happy with the decision i you know i spoke to my clients very happy as well this law has an important impact on women who cover their faces for religious reasons and if the state expired in law came into effect when we're going to be potentially cut off from you know very basic services so the dodge as within like here repairable harm will because two muslim women as of july first twenty eighteen if the state is not granted and it is urgent to act yes those are the criteria that the court has to some of the criteria that the court has to zaman agreed with us he he understood that that this was going to be a large intrusion into the lives of a few number women and that it met the exceptional circumstances that are outlined in the law but when you can stay law pending it's june occasion you knew that the guidelines for general request for combinations on religious grounds are coming into effect on july first what kind of impact this will have on the guidelines application of the rest of the guidelines well there's a lot of other types of accommodation out there somebody wants to take a holiday that's not a statutory holiday for religious reasons if somebody wants a place to pray somebody has dietary restrictions there are many many other cases where religious accommodation comes up and those are all supposed to now be treated under the guidelines there's lots of people who could actually be impacted by the guidelines in general but for right now the women shoes to cover their faces for religious reasons will not be impacted catherine mackenzie as a lawyer representing a group of clients who are challenging the face covering in quebec's new religious neutrality law she was in conversation with qatif sydney of cbc news in quebec city it was the largest and most expensive marine oil spill in history eleven workers were killed and nearly five million barrels of crude oil gushed into the gulf of mexico when the deepwater horizon offshore drilling rig exploded in april of twenty ten now more than eight years later scientists have found that the oil spill is having long lasting effects on even the smallest of organisms in the gulf of mexico we're studying microbes because we wanna know how the basis of that ecosystem has chained and what i can tell you is that for the shipwrecks that we studied in the area most impacted by the deepwater horizon spill these invisible communities that form the foundation for life in the deep sea have changed and that change is still evident even several years after the spill and that likely will have some effects up the food chain was leila him don lead author on a new study about the effects of the deepwater horizon oil spill so tune into moral on this program to hear her interview with robin.

Quebec five million barrels eight years
"five million barrels" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

03:39 min | 2 years ago

"five million barrels" Discussed on Bloomberg Radio New York

"On the markets from singapore to abu dhabi trae salivate standing by tracy you've got the gas for you this morning the chief economist from abu dhabi commercial bank yeah that's exactly right now i know you've been focused on the oil price post that all important opec meeting we're going to dig into exactly what the outcome of that meeting means for academies here in the gulf region as you mentioned here with monica malik chief economist over abu dhabi commercial bank monica thank you so much for being with us this morning let's talk about the outcome of the meeting opec agreeing to target one hundred percent compliance with their november two thousand sixteen target who's gonna be able to ramp up production i and how much of a boost is going to be to their economy's good morning tracy i think it's the jc picked producers that are particularly in a strong position to increase production side the arabia in absolute terms has the largest capacity between one point five million barrels a day to up to two according to official statements but i think we should also look at you a in kuwait as well albeit smaller naps newton's they have about ten percent growth potential if they ran up to full capacity we don't think that's the case but were expecting oil sector real oil sector growth of around five percent in the second half of the year as these countries increased production and that's going to provide a significant growth and more importantly to oil revenues you would presumably think that if you have a big ramp up in production that that would lead to lower oil prices so net net is this all about the gulf economies grabbing market share in the oil market i guess what i'm asking is is this going to be a benefit for them i think it will because it's it's coming at a time when other opec producers are having difficulties in exporting and meeting their target limit so we're not going to have much of an increase overall waiters you mentioned have one hundred percent compliance compliance has been over one hundred and fifty percent over the last few months and it's really a time where we got issues with production from such spend but the critical question is ron us sanctions take hold on the fourth november and what gcc producers is market stability so they did want prices to go up very high to reduce the month so then oil prices supported because we're still sticking to the overall apec target but gaining market share a lot of these gulf producers like to talk about how they're diversifying their economies away from oil production here on this show we like to talk about whether or not higher oil prices are going to disincentivize them to do so is that a risk that these countries got distracted by the higher oil prices i think that is a concern and something that the imf has discussed many times that the momentum of the fiscal reforms have to keep hold but i think we've already seen breath away seeing highest spending and to be honest the gulf economies need a bit of respite after three years of fiscal austerity of slowing economic growth i think it is quite positive to have a bit of a breather the critical question really is how to increase government spending in a direct form that will actually help to diversify the economy so not so much just sort of based in current expenditure which might provide shortterm kick to the economy two they call me but something a bit longer term that will help them reach the diversification goals i'm going to ask you about some of that increase spending that.

singapore tracy abu dhabi one hundred percent five million barrels fifty percent five percent ten percent three years
"five million barrels" Discussed on WAFS Biz 1190

WAFS Biz 1190

05:43 min | 2 years ago

"five million barrels" Discussed on WAFS Biz 1190

"Well we see markets what we're trying to hope what we're hoping for right now is that we don't see day number nine of the dow down if we do it will be the first time in forty years first time in forty years that the dow will have had nine straight days of losses never it hasn't happened in forty years nineteen seventy eight so right now it's not looking like it's gonna happen today either dow futures right now up one hundred and thirty in the pre market trading dow futures up one hundred and thirty points the question is will it hold will be able to continue that for the rest of the day that is the question it looks like our opec is reaching a tentative deal to boost outpour output on oil production is at least that is what the headlines are saying the meeting is not officially over yet i don't think until the end of the day and we'll we'll see but right now it's looking like they've reached a deal to boost output we need output production the problem with this deal right now is that on the news oil prices are higher or so there's more supply coming in right so why are prices higher if there's more supply coming in i don't know it's not supposed to work like that i really kind of no i mean one of the reasons are were four five million barrels under supplied in our inventories so we've got a shortfall of five million barrels of crude oil we got to build that back up when that gets built built back up and we begin to see this continued expansion and productivity continue and now we get inventories building up globally then i think we'll start to see prices come back down i hope i would be perfectly happy if they stayed here sixty seven i'd be happier if they went back down to sixty five and hung around for awhile but right now they're up about two third percent so that's where we are on the oil sector that's going to be good for oil stocks which is one of the reasons why we are looking at a dow that is in positive territory all the indices are upright now again trying to avoid a forty year slump that would make it ten days of consecutive down days the down dust royals so we'll see we'll see no i'm sorry i'm wrong it would be nine days right yeah yesterday was eight yesterday was eight so yesterday was eight today would be nine nine would be we have to go back to nineteen seventy eight defined nine straight days so nine not ten say ten but it's nine it's the ninth day today would be the nice day immigration vote not gonna happen looking vote on immigration it's not gonna happen that could happen why have no guts they don't care about what is right there will care what's right for these upholding the law with illegal immigrants they don't care about the dreamers they don't care about children yes that's a little hyperbole but what you got you got a better answer i mean what's the answer what's the reason are they dare going to vote for an immigration bill and appear as though they're aligning themselves with president trump which is the head of their party no they're not going to do that there may be four or five voters there may be seven or eight latinos in their district that come november they gotta make sure they get their votes they need they need those seven votes forget about the majority forget about what the american people want forget about what the majority of the people in their district probably want that's not gonna do that they don't have the will to do it i listen i wasn't hoping i wasn't hoping i wasn't quite that naive although when it comes to some of these political issues i've been rather naive actually momentarily believing that people are going to get on board with certain things and living in some sort of fantasy world that that was going to happen.

forty years four five million barrels five million barrels forty year nine days ten days
"five million barrels" Discussed on KCBS All News

KCBS All News

01:37 min | 2 years ago

"five million barrels" Discussed on KCBS All News

"Group actually will increase production it's still a little unclear there are a lot of details of who which of the countries would get to increase production and whether some of them are already at their capacity but it looks like they will be somewhere between five hundred thousand million barrels a day in a market in total that's about ninety five million barrels a day that will have a little effect but the oil markets were actually expecting a bigger increase and so when it was ratcheted back to the smaller increase oil prices went up on the news of this increase so we saw prices increase somewhere between two and four dollars a barrel which when that comes through to the pump translates about five to ten cents a gallon are we less concerned these days about what opec does considering how much oil production there is now in the us well if you're consumer you should still be concerned because we're in a world oil market and when opec cuts back supplies the price of oil goes up now that's not as big a total economic hit to the us anymore because some because the producers in the us make more money when the price of oil goes up but if you're a consumer you still get hit and when the price of oil goes up a couple of dollars a barrel that means another nickel per gallon at the pump and that adds up after a while so we're kind of guessing just how much of an increase will be and what the effect will be and really do the oil companies here in the us sort of guests themselves and trying to adjust their prices for consumers based on what they think the direction might be.

opec us five hundred thousand million ninety five million barrels four dollars
Alan Bean, U.S. astronaut and moonwalker, dies in Houston at 86: NASA

24 Hour News

01:05 min | 2 years ago

Alan Bean, U.S. astronaut and moonwalker, dies in Houston at 86: NASA

"Mental court to determine if he should have been released back into the community zaher hubert wj newsradio nine fifty and trump has signed three executive orders to make it easier to fire federal workers and delimit time workers can spend on union business at a briefing white house officials said that the executive orders will make it easier for agencies to remove poor performing employees and ensure the taxpayer dollars are more efficiently used labor unions immediately criticized the moves which had been promised by president trump during the campaign cbs news correspondent bill rakoff w w j news time five thirty four massachusetts senator ed markey blaming president trump and gop policies for the rising costs of gas in this week's democratic media address market charges that those policies encourage american oil producers to send their product overseas where they can charge more now exporting will in two point five million barrels a day of american crude oil even while we still import that exact same amount from opec and the middle east.

Opec Hubert Wj Executive President Trump CBS Massachusetts Senator Ed Markey GOP Five Million Barrels
"five million barrels" Discussed on The President's Inbox

The President's Inbox

02:02 min | 2 years ago

"five million barrels" Discussed on The President's Inbox

"About two point five million barrels a day to around one since the deal was implemented they've gone back up to the previous levels and so a way to think about it is are we going to be equally successful this time and how long will it take to get them back to the point where they were willing to come to the table and agree to that deal then and i'm not sure that well this is the arguments going to be hard to rally countries on the grounds that they're going to say the iranians are complying with the deal you're violating the deal and you want us to punish the iranians and is going to feed into an resentment in many capital even friendly capitals about us bullying i mean you mentioned india yet india's actually one of the key players here it took an awful lot of diplomatic arm twisting to get the indians to agree to a rollback purchases of iranian oil because india doesn't have a lot of oil obviously they could buy from iran which is not that far away but now to go back to the indians and say you're going to have to stop buying ronnie and oil and i think the can legitimately say exactly why what's in it for ninian's historic have not been big fans of sanctions and this is a fair amount of antiamericanism or skepticism of american global leadership in indian political intellectual circle so i'd be very interesting to see how that all plays novice view the trump administration talking about the indo pacific part of the indo pacific framework you building involves the indo part which is india and that may jeopardize it you want the indians as leverage against the chinese and so they're to trade tradeoffs and cross cutting consequences here so jim that's just one of the point on that so i mean i've written a lot about unintended consequences so this is occurring against the backdrop when global energy demand is quite high in the first quarter of two thousand eighteen global energy demand was at at the highest it's been since the last qu.

india ronnie iran ninian indo pacific five million barrels
"five million barrels" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

02:56 min | 2 years ago

"five million barrels" Discussed on Bloomberg Radio New York

"Exporter as ran two point five million barrels a day right now so that gives them a bargaining chip saying hey if you don't comply we could take away those barrels i don't want to advocate there's a policy there but it is a way to actually enforce compliance on the refiners around the world so america has its own tap the switch very different than two thousand twelve or any other point in time this'll across asset correlation so if we move into this higher interest rate of arm which seems to be it's been on the horizon now becoming a little bit closer and then we see some sort of full in in across has a correlation with commodities where does that create demont where where where would we invest in commodities scenario what we find is when you go into the late stages of the business cycle where we are right now commodities outperform every other asset class in fact average term returns during this expansionary phase or twenty nine percent in commodities because what we call assets they performed very well in a rapid growth environment like where we're in right now in contrast equities or what we call anticipatory assets the future so the equities performed very well in the previous five years because the anticipated the world we're in today when we think about you know the strong underlying demand trans higher commodity prices that creates the inflation which then forces the hand of the central bank and then you get the higher rates which then puts downward pressure on financial is enhanced that's what creates that negative correlation between commodities and financial assets but the market doesn't get it right we have brent futures paying out fifteen cents we have the majors paying dividends north four we have this speculation in the space we just saw the marathon andover deal going on the shelves facing the pardon me right now and you get short and trust is sky high in commodities why what's the disconnect jeff carry that speaking to add having these reporter with the very latest us in terms of where we are in the cycle it is late cycle that is when you got the alpha from commodities which far outpaces that of equities by some twenty nine percent so a little bit of a slippage in the oil price the.

jeff reporter america andover twenty nine percent five million barrels five years
"five million barrels" Discussed on WAFS Biz 1190

WAFS Biz 1190

01:58 min | 2 years ago

"five million barrels" Discussed on WAFS Biz 1190

"Oh players like india and china comply to this the difference today that in two thousand and twelve is the exports that you're referring to because the us is as large of an export or as iran two point five million barrels a day right now so that dow gets them a bargaining chip saying hey if you don't comply we could take away those barrels i don't want to advocate there's a policy there but it it is a way to actually enforce compliance on the refiners around the world so america has its own tap the switch very different than two thousand twelve or any other point in time this is all about cost us that correlation so if we move into this higher interest rate environment which seems to be it's been on the horizon now since becoming a little bit closer and then we see some sort of fall in in the cross has a correlation with commodities where does that create demont where where where would we invest in commodities scenario what we find is when you go into the late stages of the business cycle where we are right now commodities outperform every other asset class in fact average term returns during this expansionary phase or twenty nine percent in commodities because come is what we call spot assets they performed very well in a rapid growth environment like where we're in right now in contrast equities or what we call intimidatory assets the the future so the equities performed very well for the previous five years because they anticipated the world we're in today and when we think about you know the strong underlying demand trans higher commodity prices that creates inflation which then forces the hand of the central bank then you get the higher rate which then puts downward pressure on financial instruments it has that's what creates that negative correlation between commodities in financial assets but the market doesn't get it right we have refuge should hang out fifteen we have the majors paying dividends north of four we have speculation in the space we just saw the madison and over deal lock on the shelf space in the pommie and right now and yet short and trust is sky high in commodities why what's the.

india china us dow madison iran america five million barrels twenty nine percent five years
Oil slips on profit-taking from Iran-based rally

Morning Edition

01:56 min | 2 years ago

Oil slips on profit-taking from Iran-based rally

"It's morning edition from npr news i'm rachel martin and i'm david greene good morning oil prices are at their highest in more than three years this is after president trump pulled the united states out of the iran nuclear deal this is something many of you might be feeling at the gas pumps and to talk about the implications of this and why it's happening let's bring in david wessel he's director of the hudson center at the brookings institution contributing correspondent to the wall street journal and of course a frequent guest on our program david good morning so is this is clearly linked to the to the president's decision on on the nuclear deal yes i mean oil prices were on the rise before the president announced his decision on tuesday and they've risen further since he made it official yesterday oil prices were upper about three percent one benchmark hit seventy seven dollars a barrel that's twenty five percent higher than they were in mid february and they've risen further this morning on global markets and it shows up as you say at the pump that aaa says gas prices are now fifty cents a gallon higher on average than they were a year ago that people are really feeling this so explain this would be an increase because of an expectation for a lack of oil coming out of iran and then the ripple effects from that exactly iran is an export or oil and since the ron nuclear deal that president obama agreed to they've been exporting more oil so if the president sanctions hold iran will supply a few hundred thousand fewer barrels voile to the world markets now that's a little a bit in the market that consumes ninety five million barrels of oil every day but these days the saudis have been restraining supply to push up prices inventories have been low demand is up because the global economy is doing pretty well so any little disruption can have a big increase big effect rather on prices now what happens to prices going forward.

AAA Official David David Greene NPR Barack Obama Iran Rachel Martin President Trump Wall Street Journal Brookings Institution Hudson Center David Wessel United States Donald Trump Ninety Five Million Barrels
"five million barrels" Discussed on Uncommon Knowledge

Uncommon Knowledge

04:58 min | 2 years ago

"five million barrels" Discussed on Uncommon Knowledge

"Welcome to uncommon knowledge i'm peter robinson george f will has been one of the nation's leading political writers since landing a column in the washington post at the age of thirty two more than four decades ago is twice weekly column now appears in hundreds of newspapers on dozens of websites he's written more than a dozen books including his classic work of political philosophy his nineteen eightythree statecraft as sole craft and the baseball books men at work and a nice little place on the north side george will welcome had to be with you two quotations george willing may seventeen quote it is urgent for americans to think and speak clearly about donald trump's inability to do either the seems to be not amir disinclination but disability that's one here's quotation to its longish but it does a lot of work the canady ian publisher and historian conrad black writing in today's new york son george will is one of the country's outstanding polemical writers but he should not be squandering his talents on misrepresenting the president that but this was quite quite a a load load the president has done his best to enact the program the voters approved when they elected him he has appointed judges who believe they should carry out the law and not current political reinterpretations he has drastically reduced illegal immigration reformed and reduce taxes deregulated stimulated economic growth succeeded in gaining china's serious cooperation with north korea and armed the kremlin's is assisted by raising oil production by five million barrels a day with a more suave individual enacting the same policies george will would be an appreciative supporter sir you object to the lack of swazi i do object to the persona which i think is what he's talking about it and i think what my old friend conrad doesn't recognize people voted for donald trump because of the persona that i find offensive destructive dangerous that is the fact that he breaks crockery and offense people pleases certain other people conrad black's been around long enough to know that donald trump to personally increase oil production i've not seen the petroleum stains on those small hands i don't the fact that that long discourse for conrad was large measure an exercise in the post talk prompter hawk fallacy the rooster crows and the sunrises there for the crowing of the rooster causes the sun to rise certainly donald trump is done a few good things a stopped clock is right twice a day but that's largely because the republicans were teed up in congress and elsewhere with the deregulatory agenda he had outsourced to the federalist society the selection of judges which produce mr gorsuch we can gauge mr trump's understanding of the judiciary from the fact that in one of the debates during the two thousand sixteen primary season he said in defensive his sister a federal judge and defensive her conservatism he said she has signed some of the same bills as justice alito we have a president of the united states thinks judges signed bills which is to say we have a president who would flunk ace sixth grade civics exam i'm quoting you once drawn letter to follow i'm calling you once again trump lags what elliott called a sense not only of the past tennis of the past but of its presence closed i think we can probably stipulate the donald trump is not himself a million with yes elliot's what do you mean by that by quoting elliot to that effect to is no sense of history no sense of the momentum of events that has brought the republic to this point no wonder standings for as i can tell the majesty of house in which he lives the great homeless that have occurred in the oval office he occupies no sense at is of the great arguments we've had about america where we should go how we should do it the actual competence improper scope of government all of this is flex lake to have let me let me try another couple of arguments on behalf of donald i'm on the mound you're at the plate let me try a couple of pitches here those achievements that conrad black listed donald trump may not have increased oil production by five million barrels a day but.

peter robinson george f five million barrels four decades
"five million barrels" Discussed on KQED Radio

KQED Radio

02:13 min | 2 years ago

"five million barrels" Discussed on KQED Radio

"Some measure of its economic power and growing influence over the country well start with the politics you know texas is the second largest state in the union but it's growing like crazy it has a thirty nine electoral votes right now and probably will gain four more in the next census california has fifty five is the largest state but it has not added any more electoral votes since two thousand three and in new york has been losing population for decades so texas is in the ascendance and you know i really think that the future is texas because it's where the job growth is where the population growth is and has his outsized economic influence in part because of oil and you know the oil was something that i thought was going away in texas after the big bust in the eighties when oil collapsed and in i think it was early nineties when the amount of oil that america produce was like five million barrels a day it was the lowest point we had been in decades and the people were talking about peak oil and for texas economy that meant that we were going to be a far less significant player in our national economy than we had been and then suddenly fracking comes along and within ten years after two thousand eight to two thousand eighteen america's petroleum output doubled we're now producing more than saudi arabia it's astonishing and you know once again texas has become a really important player in the national economy if texas were a country of its own it would have an economy this somewhat larger than canada speaking with lawrence right his new book is god save taxes we'll continue our conversation after a short break this is fresh air.

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"five million barrels" Discussed on Capital Ideas Investing Podcast

Capital Ideas Investing Podcast

02:02 min | 2 years ago

"five million barrels" Discussed on Capital Ideas Investing Podcast

"The than is a dynamic that than investors looking at all sectors have to try and fathom and understand because energy input into every other business talk a little bit about that if you put on investment hat from a minute of how folks after perceived these things schori giving a sense of where the oil markets are going matters a lot to investors to economies to governments because of that connection between energy prices and overall economic health but if we just focus on oil apart from natural gas for a moment i argue that were moving into a very different landscape for the medium run and potentially the longrun which is that oil has always been very sick lacolle so you've had ups you've had downs and they've bounce back and forth between the two and depending if you're producer you suffered through the highs are the lows knowing that the reverse was going to come in may be didn't know exactly when you may be didn't know how long the bottom was going to last how deep it it's going to be but you could be confident that it would right itself and now we're in a different landscape because this new energy source that we're talking about the title is a very very different business model in this is what has really upset opec so it's not just there's more volume of oil in the markets because some people say to me well okay the us is producing a lot more oil but in the scope of a global market of say ninety five million barrels of oil a day what's another five now they're they're good answers to that question but the real impact of this resources the fact that it can come on and off line very quickly and this is the big departure from the old kind of conventional oil investments which used to require huge multi billion dollar investments over many many years that would only bring oil online safe five seven years down the road this meant that opec could effectively manipulate price spike.

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"five million barrels" Discussed on MAD MONEY W/ JIM CRAMER - Full Episode

MAD MONEY W/ JIM CRAMER - Full Episode

02:02 min | 2 years ago

"five million barrels" Discussed on MAD MONEY W/ JIM CRAMER - Full Episode

"So that is very important to be able to hit the the foreign markets and when you look at the demand on a global basis were expecting 2018 global globally to be up about one point five million barrels per day that's going to require more and more exports from the us and the us gulf coast refineries they're the best engines in the world now we have a a change a president who is very pro deregulation i invite pro oil and gas let's just call it that what does it mean for the eu over refiner to have eight what i have to regard as a friend in the white house right and i've met with the president uh he was in cincinnati giving a speech on infrastructure and his questions were are we doing better on permitting not permitting for just pipelines for permitting and refining building terminals and pipelines as well and as very important of the infrastructure bill that in his state of union address that he talked about it's very employ gordon that we continue to be able to build new pipelines we need a lot of work in a lot of investment in the rivers both at mississippi and they'll how river they need infrastructure investment so the president and the administrator of epa scott pruitt are both very pro the energy industry okay now one of the things that people were talked me that as price of oil went up a little bit is some say that because of refining considering cynic the kissling could could have four dollars a gallon in california the summit seems impossible with me but without the marketing challenger marc widow market there but let me give you a a little backdrop there if you look at the days of supply basis including exports both gasoline and diesel were the lowest inventory levels gasoline since two thousand six diesel since two thousand thirteen so inventories of really come down we're in the best position from a refining industry standpoint uh in in many many years we go back to fifteen and sixteen very.

us president eu cincinnati gordon mississippi administrator scott pruitt california five million barrels four dollars
"five million barrels" Discussed on Stansberry Investor Hour

Stansberry Investor Hour

01:31 min | 3 years ago

"five million barrels" Discussed on Stansberry Investor Hour

"How much of the you know i i remember just from being somebody who's on the mideast uh politics and national security side of things now for for many years and we would always talk about the possibility of of a shock to the all markets because of what what occurs in my world right somebody there's a military exchange in the straits of or move or there some thing that happens over there then all of a sudden we have gas lines like we did here in the '70s noone even porter known even brings us up anymore doesn't even get discussed and is that because of the shale revolution here and because of the the we're we're such a a major oil power again and and seems like people don't even realize that that america's now and oil superpower again well it it really always has um look american oil production has doubled in the last ten years from five million barrels a day to ten and the last time we were able to double production it took twenty six years so from the end of world war two to about 1966 so that we've doubled production and ten years is a remarkable revolution and i don't think i still don't think any anyone's gotten their head around uh what that really means also people don't understand this these and increases the production there is a heck of a lot more to come the the amount of oil america's producing is purely predicated on price not availability if the price one hundred dollars a barrel again america could produce twenty five million barrels of oil a day within another five years so this is not about um.

america oil production world war porter ten years twenty five million barrels five million barrels one hundred dollars twenty six years five years
"five million barrels" Discussed on Stansberry Investor Hour

Stansberry Investor Hour

01:31 min | 3 years ago

"five million barrels" Discussed on Stansberry Investor Hour

"How much of the you know i i remember just from being somebody who's on the mideast uh politics and national security side of things now for for many years and we would always talk about the possibility of of a shock to the all markets because of what what occurs in my world right somebody there's a military exchange in the straits of or move or there some thing that happens over there then all of a sudden we have gas lines like we did here in the '70s noone even porter known even brings us up anymore doesn't even get discussed and is that because of the shale revolution here and because of the the we're we're such a a major oil power again and and seems like people don't even realize that that america's now and oil superpower again well it it really always has um look american oil production has doubled in the last ten years from five million barrels a day to ten and the last time we were able to double production it took twenty six years so from the end of world war two to about 1966 so that we've doubled production and ten years is a remarkable revolution and i don't think i still don't think any anyone's gotten their head around uh what that really means also people don't understand this these and increases the production there is a heck of a lot more to come the the amount of oil america's producing is purely predicated on price not availability if the price one hundred dollars a barrel again america could produce twenty five million barrels of oil a day within another five years so this is not about um.

america oil production world war porter ten years twenty five million barrels five million barrels one hundred dollars twenty six years five years