18 Burst results for "Ten Thousand Barrels"
"ten thousand barrels" Discussed on Bourbon Pursuit
"Whiskey industry happen. I'm one of your host. Ken coleman and before we start the fifty fifth bourbon community roundtable. Here's your weekly burping news. Update the kentucky distillers association has announced that the brothers distillery in louisville the first and only african american owned licensed and operating distillery in the state of kentucky is the newest and forty. Second member of the katie. It was founded by victor bryson and christian yarborough three brothers who were born and raised in louisville brothers. Distillery is katie's twenty-fourth craft level member aging less than ten thousand barrels per year. Could you be the next george costanza. Well maybe now balding with glasses but you could be a hand model for fistful of bourbon and win a hundred thousand dollars. The company is calling the casting. Call the search for the hundred thousand dollar fist. With the lucky winner appearing future print video and social media campaigns applicants must be at least twenty five years old authorized to work in the us and you can enter on fist full of bourbons website. Wild turkey and russell's reserve have announced a donation of twenty thousand dollars to the kentucky distillers associations lifting spirits foundation. It's a program aimed at increasing the diversity. In distilled spirits through scholarships the donation will cover credits for students attending bourbon related certification courses at the university level university of kentucky and kentucky state university with preference given to black students women people of color. Lgbtq other underrepresented groups and moving on to bourbon release news. Jefferson's is releasing its second ri- in the brand's near twenty five year history and it's called jefferson's ri- cognac. Finish the double-barreled straight. Rye whiskey was fully matured prior to being finished enhance elected. Cognac casks for at least nine months in kentucky. This expression will be released at an easy sipping ninety four proof with a suggested retail price up ninety dollars it will be available nationwide both in store and online at drizzly and reserve far barrel. Bourbon has a new line of products out under a brand. New label called stealth them. They're introducing a bourbon which focuses on five to six year. Old indiana kentucky in tennessee profiles using three different indiana mash bills also includes barrels from four to sixteen years old. The ri- is in the ninety five. Five indian mash bill but accented with rai barrels from kentucky and tennessee ranging from four to ten years old and there will also be single barrels but all of these will be bottled at cask. Strength the bourbon. We'll be at around one hundred fifteen through the ri- at one hundred sixteen and these we'll be blended to consistency with a retail price of fifty five dollars available and forty five markets. Nationwide and you can also buy online at stella him dot com maker's mark is releasing their annual keeneland bottles. But this year to limit different this year. It's benefiting the lex arts organization. And they're working on behalf of isaac murphy memorial art garden in lexington. This is the first park the us to honor black jockeys for the first time. This release is not one but three different bottles each with its own label featuring the work of artists saints. Oppa guard. andre. Peter and tyler robertson the bottles are all pre signed by the artist who created each label along with kenyan president and ceo shannon arvin maker's mark managing director rob samuels and one of three active hall of fame jockeys who have won the grade. One maker's mark mile at keeneland multiple times. So you've got have a year castellano. Edgar pro and john velazquez. All bottles will go on sale. This friday april second of twenty twenty one for resins small batch select is to start expanding to greater markets. This spring this is the hundred and four proof. Non chill filtered version that was introduced back in twenty one thousand nine hundred and the new states are as follows alabama arizona connecticut delaware louisiana maryland minnesota nevada oregon pennsylvania south carolina virginia and washington. Dc this expansion brings the total to thirty states. Were small bachelet will now be available by now. You'd have thought had gone through all the news the round table for back at it with another gathering to talk about some more news and our takes on it. We discussed heaven hill versus log. Still distilling over the use of the dant name trademark and what does direct to consumer shipping a kentucky. Me now that distillers can cut out the wholesalers and if you were to spend fourteen hundred dollars stimulus check on bourbon. What would you spend it on. Barrel berman is known for their expertise and crafting unique blend taking lots of different whiskies from different regions. And bottling it all cash strength and you can even buy them online just visit. Bourbon dot com and click the buy now button with that enjoyed. Today's episode now. Here's fred mimic with above the char. I'm fred mimic and this is above the char. This week's idea comes from don not a longtime listener to bourbon pursuit. Who writes me on fred. Mimic dot com. He writes people are posting bottles of bourbon on social media. All the time. Has this jumped the shark. Oh boy oh boy. Dons the trying to ruffle some feathers year trying to get into the instagram and the tick tock of the world and And say like all right. You're posted too much. I mean there was a long time where we were just kind of like hoping that people would cut back on their crotch shots and now that's finally happened and so now people are doing like curated photos with with the bourbon bottles. And you know. I don't think it's jumped the shark. I think what has happened is the game has gotten a lot harder. I mean time was you just have a glass and a bourbon bottle next to a fire. or on a golf course and you know you'd get so many likes and people who that's very nice but i mean now you gotta you gotta have some content behind it. You can't just post a bottle and there's a never ending amount of bourbon. People like dawn. I'm suspecting that will call you out. If you're just kind of like going into a store and picking up a bottles to go good. I got you know. But i just think that's just a part of the modern world. I mean you know. Take a look at tennis shoes. Old school jordan's are like posted on all the time. I look at those salivate and remember a time long ago. And i think it's just think bourbons a part of that entire like lifestyle that instagram and tiktok presents But we are in that luxury space. And it's kind of like you know for those of us who actually enjoy bourbon and for those of us who look at bourbon. Something more than just a status symbol. It can be quite a bit frustrating. So i agree with you there dawn. It is frustrating. Just to see that but it's not going to go anywhere so it certainly has jumped the shark. And that's this week's by the char. Hey if you're like donna. And you've got an idea for above the char hit me up on redman dot com. That's redman dot com. Click the.
"ten thousand barrels" Discussed on Beer Guys Radio Craft Beer Podcast
"Beer guys on facebook twitter and instagram. Sure too much worse for under such heavy sedation now. Back to the beer guy's radio show the beer for radio show. I want to give a quick shout out to one of our great radio affiliates k. e. n. n. thirteen ninety am and ninety two point one fm in farmington. Catch beer radio k. e. n. n. Every saturday at ten pm. Now let's get back to our talked with bootstrap. Bruin are talk. Brian topsoil esl. Stephen leslie we want to talk to you about your growth because really A great story. You guys have grown through two thousand twenty and like bryan new segments suggested That's not the case for everyone you know we've seen you're in georgia close we see layoffs in and unfortunately some second round layoffs for certain companies but twenty twenty has been a good year for you and growth. I is that correct. And if what do you attribute that to. It's true and and i think a lot of it has to do with the solid beers that we put out there and also we've got a great distributorship Partnership and a lot of it has to do with leslie. And i were really the only sales people so to speak and so there was a lot of growth dude crew word of mouth. That was organic. We were the ones that were out in. The fields really selling our products and it was a lot of fun but as soon as we signed up with some distributors that were passionate about our beer and champion. the our. that's really when we started to see some growth and then this year we partnered with an investor who is well known in the industry and his name's dale from oscar blues and It got a little parallel or something he does. I believe yeah little pills. He's got a little bit of this and you know we talked about earlier. He's a friend of ours. He supported us all the way from the beginning We never asked for anything from him. You know as we grew over the past eight years there was some synergy between us and there was some thoughts and whatnot and he got to the point where he had the opportunity where he could invest in us and he jumped in and he's been a great mentor. Great guy with just incredible vision and forecast in in we just had a great synergy and we're having a lot of fund so what he put into our business allowed us to get more. For manners upgrade our lab hire few more people in a byproduct of that is we. Were finally able to hire a couple salespeople and start talking about getting into chains and these sales people have experienced with the chain side and so now we're slowly getting into a bigger piece of the market than we were doing before and so we have that growth. I mean when you look at us versus some of the bigger guys the guys who are hundred thousand barrels on above There's maybe their stagnant or growing a little bit or you know coming down a little bit but for somebody like us. Who's at this year will be closed to nine ten thousand barrels. A growth. Spurt is pretty good to go from seven thousand barrels to nine or ten thousand barrels and projected to go to fifteen thousand barrels. You know there's some movement there that for smaller breweries is maybe easier to do than the larger breweries right. 'cause at large murray could increase their barrel production each year your entire yearly amount and it wouldn't be it wouldn't take a small percentage of what they're doing exactly what two hundred and fifty thousand barrels to two hundred and sixty thousand like. Okay yes that was the right. Yeah exactly so now. It looks like your growth in the wholesale channels was even pre covert. I know some some places of seen some success there but was that typically from out of the gate. Was that where you saw. Have you ever been more taproom focus because that seems to be the place to be. These days are tantrums importance but our vision is always been wholesale. And let's let's put beer in cans and let's let's put it out into the market so you know. We started out in twelve hundred square feet tapper. Only eight and a half years ago on day one. It was like a hundred percent of our revenue was from the tap room. And now you fast forward. And now we're were more wholesale driven because there's a there's a finite amount of money in revenue that you can get based on. How many chairs yavan. oh in. Currently there is no indoor see colorado. Okay in georgia. You can do what you can go out naked. Pack for exactly and they don't care advocate though they do space them out so you can't pack them quite as tight. It's not quite as many chairs. Before but i mean we're so thankful that the we have wholesale. I mean in these times with these restrictions that are affecting our taproom revenue. If we were taproom only or taproom heavy this would just be so devastating jour- in kind of to tag onto that so starting in january. We were starting to see that bump you know every year we have any business reviews with our distributors. Hey witter our goals Stephen leslie guys are leasing next year. Let's put a plan together and january february march. We were man. We were exceeding our goals and then march hit. We were shut down for march till about intimate or something like that. That was definitely devastating for taproom half a month of our wholesale but then all of a sudden it exploded because like everybody else. We were hoarding liquor in our house. Sure yeah beer. Yup so you know the wholesale side went up. I'm luckily we didn't have to let anybody go on the production side. We're pretty lean and mean we have some brilliant. People were pretty efficient in our process. I've got some hard-working guys thing. We're all passionate and we're all just young man. We love this and so we're surviving by again with all this addition of The sales team and going through another annual business review were were projecting growth again and its markets that we haven't been in and we released to new products two weeks before the covid desk soccer. Yeah right jeff timing here we go and everybody's like yeah and then boom and it got shut down so we couldn't really get that out there. It was our sparkle issues seltzer and are mixed pack. And now we're going to spend the whole summer doing tastings enhance sales and pouring it at festivals. In all she. That's the thing we look at that of all the beer festivals. We've missed this year seriously. It just getting to to go out and see your friends with everybody. It's it's too bad yeah. I don't even remember what it's like to hang out with people entering beer in a public place and not be wearing weird mass. You know like eyeing people on the sly like everybody's villain they see one of those people could bring you down and you need to stay away from its soccer. I on you. Oh they do know handshakes no handbags none of that. Maybe an elbow bump maybe elbow. Bob you can do that. That's i had a meeting earlier earlier this week and They came in and push the chair like the other side of the input. Their mask on kept the distance man. It was like a like a serious plague meeting there. Man that's the way life has been most of the time you have one.
"ten thousand barrels" Discussed on The Ladies of Strange
"It was pretty serious. Business in total. Nearly five hundred. Forty thousand gallons of syrup had been stolen that was twelve point five percent of the total reserve at two thousand dollars per barrel. It is about thirteen or in two thousand twelve. It was about thirteen times. The price of a barrel of crude oil palsy. Schweitzer should we invest in maple syrup gel. Let's move to canada. Anyone wanna take a guess at the value. The amount to the dollar amount that they tabulated was stolen. Three million i was thinking like five mil- eighteen point seven million dollars and canadian. Money's yes what is augean money called. It's something cute loon. Yeah that is cute in their money is waterproof. What's it's pretty brilliant. Well it snows a lot there. Dude canadians they out it. I can't remember if it's a lunar loonier a colloquial term for it it. I've heard looney. But and i'm not sure if that applies to the coins or the dollar bills claimer canadian. It's cute disclaimer. Non-canadian almost as far away. Oh we have a comedian and at work. I'm gonna talk to her. it's fine. I'll ask her about baker work. Sound incredibly weird which is accurate. Yeah she has one who suggested the niagara fall- barrel anyway we did touch base Maple syrup ridiculous amounts lots of money. Eighteen point seven million dollars. It became known as the great maple syrup heist said to be. Among the biggest agricultural crimes ever committed so it was believed to be an inside job not necessarily members of the fda q. or manufacturer but a tenant who to be renting space in the same facility. I'm trying to imagine. Lake offloading that much maple syrup and like how long you would have had to been doing it for it to not be noticed or you just like they took a weekend offer a holiday and you and your buddies would in there just demolished. A bunch of i don't own so the reason i thought it would be somebody within the same facilities that they would have access they'd have the keys they wouldn't be questioned by security to be on the property for some reason they had to have access to be on there but they didn't think it'd be anyone from the f. a. q. or manufacturer because if you mess with supply and demand they change how much they're willing to pay you and so lose traceability. It's a mask yet. So they really wrote off most people that'd be involved with f. b. q. In any way so several conspirators pursued including avic carson and richard villares working with a handful of others Some with knowledge of the trade. They apparently went after the bounty over the course of a year. According to the prosecutors the gang would truck barrels out of their reserve to a sugar shack where they would siphon the syrup into their own barrels and then refill the originals with water. And take those back in. It's basically they would act like delivery people and they would take barrels and remove full barrels bring quote unquote full barrels. But they were filled with water. Anyone else craving pancakes right now. You should have seen me researching this episode. I was very hungry. And i won't real maple syrup. So as the operation grew they allegedly brought on accomplices began siphoning the syrup directly from the barrels in the reserve and nearly ten thousand barrels of syrup were stolen and truck two points from south east. It said we're the market was free. So i guess maybe that's not controlled by the fbi. Cue which is how they were able to sell it. Okay i was thinking black market but plaque maple syrup..
"ten thousand barrels" Discussed on C-SPAN Radio
"Airline American Airlines reports that every day every day it was getting four thousand calls from customers trying to figure out what time it was in the city of their destination it had started to cost the country millions of dollars just to rewrite time tables every few weeks there's a famous very famous bus trip from Steubenville Ohio thirty five miles you went through seven time changes in those thirty five miles that's nineteen sixty five this is when we're at war allegedly the Cold War is on and we have these precision instruments on split second timing and literally when the state department has sent six people out to Alaska to go meet about a crisis that's happening near the Russian border they're all two hours late they had no idea what times on Alaska was on or if they were observing daylight saving or not it really became a comedy of errors on Marshall Tito shows up at an airport nobody's there to greet him it's because everybody forgot we turn the clocks it's just a humiliation and the country can't catch up with itself because there's no one in charge in fact they have put the Congress to put the interstate commerce commission in charge in and by the way the day after that among the ticket they received were very specific they were to arbitrate time in this country at the convenience of commerce time zones are not political boundaries their commercial boundaries the railroad divvied up the world to make sense of its roots and then another fact maybe you all knew I never knew it I thought our time zones were fixed net our time was our time the time zones in this country have been changed more than fifty times they just keep moving the boundaries that's how Detroit got to be an east coast city it just up and move itself from the central zone to the eastern zone it wanted to be in time with New York there's a point in the story where Chicago is so envious of what's the choice on Chicago think about a map makes itself an eastern city end put itself on daylight saving time it's clocks are running ahead of Washington DC at that point because Washington DC has no daylight saving time and nobody's in control and the interstate Commerce Commission supposedly controlling this finally in nineteen sixty literally writes a letter to Congress and say we give up we can't do this we have no idea what we're doing anymore there's so many petitions and here's the catch it's really fascinating every states like Georgia which word deeply resistant to daylight saving time both on the sort of religious grounds and also just that states rights issue really became a big deal Georgia moves itself the it's a divided state has central eastern time zone Jordan was itself entirely into the eastern time zone well that's year round daylight saving time but Georgia doesn't call it that they call themselves an eastern time zone statement so the states keep moving every single petition to move a time zone boundary is always a petition to move into an easterly times on every state that was resisting daylight saving is backing the ICC to give them a life saver under a different name how was your fantastically unstable I so wish I could play it was stable tremendously so we we have Indiana is a perfect example right Indiana has two times on the divided state notably that was not always so Indiana got its boundary mixed up when Detroit jumped ship and went to the eastern time zone pulling half of Michigan with it so that boundary started to move Indiana has two times on central and Eastern I almost I almost can't believe I understand this if I get it wrong I will be the least bit surprised I feel so confused myself but here's the deal some counties in central the central time zone spring forward and some don't some counties in the eastern time zone spring forward and some don't so Indiana has essentially four time zones they could easily petition themselves into a single time zone there's every reason to believe but the time zones in the next ten or fifteen years I would say are gonna be collapse from four to three that is causing too much confusion in the country so I think that will change there is no question but that the amount of daylight saving we have is going to change many of you probably know I don't know why I say that as if everyone is obsessed with this topic is it's a preposterous thing I I really apologize for indicting even though I have been obsessed with delight saving and know that the Congress is presently considering a two month extension this won't surprise me it's a it's a pro is that it's being proposed on the basis of energy saving there have been studies and debates before Congress for a hundred years we will hear repeatedly that it saves you want ten thousand barrels of oil a day that's what you will be told here's what all I know that comes from a statistic that was done of the fantastically failed experiment by Richard Nixon by the department's transportation what what the congressmen are proposing this don't say is that the study reads literally it might save something like ten thousand barrels of oil it likely will also increase the use of heating oil and gasoline the one thing we know daylight saving does is push people out doors and when you push Americans out doors they get into their cars the petroleum industry has known this since nineteen thirty they have been tremendous supporters of daylight saving in nineteen eighty six we had six months of daylight saving there was a push on to expand we eventually expanded to the system we have now which is seven months one month extra daylight saving to the barbecue industry one hundred and fifty million dollars a year to the golf industry two hundred to four hundred million dollars a year that's why I will have more daylight saving the only losers that year I'll tell ya they will there was a push on to extend daylight saving not just back if they did into the beginning of April but they wanted to go to the first Sunday November and this became a really hotly debated issue in in the house and it's not hard to penetrate the congressional hearings and one thing I have to say if you've never read them they're the greatest comic document the last hundred years it's fantastic what it said before the Congress and I don't mean that really truly don't mean it disrespectfully about Congress the P. people will come into public forum and say absolutely anything hoping for the best so they came with the daylight saving proposal it was a tremendously orchestrated lobbying effort and there was this desperate push on to get an extra week at the end of it finally a couple of it was really a couple of southern senators who just got so fed up that they said you know we can't have that week you can have the other month we can't have that week and that was basically why it went down that way here's a wanted it the candy manufacturers that we can close trick or treat and this only comes out because what happens is when the Senate leads to consider this week when they come back the next day they're all these little pumpkins filled with candies on their chairs Michael Downey he says changing our clocks is a new will match the name of his book spring forward I'm not making this stuff up Australia absolutely we have a problem with them what fascinated me was when you go from the South Wales to folk office printer is a half hour difference now if you want to find out where you're going when you're gonna get this hi half hour and especially if you're on the Murray river we're across very well you have the boundary between the two states and we got a half an hour difference in OC it is that you know that sort of solution is is a desperate solution we know but it's from people can't agree which time zone to be it and that's considered a compromise India has a to a half hour time zones as does New from land above us Newfoundland is a half hour ahead of us if they're famous in Canada because Newfoundlanders as a result have used some new year's thirty minutes of daylight saving some years ninety seven years a hundred and twenty they just make it up and so they sometimes have sunrise sunset from St John's bay there is light at ten thirty at night apparently because they like it but these half hour differences were actually that's a solution that came up several times Paris when you're put itself on half hour daylight saving because professionals who lived in Perris were deeply they loved it the doctors and the lawyers so the doctors ginned up this study where they claim that it daylight saving really strong calm the nervous disorders and they went through and figured out how many fewer suicides happen what during daylight saving time it as almost everyone tried to point out to them most suicides actually occurred at night so waiting an hour most people are gonna kill themselves had another hour you know I would hold off for that hour of darkness if every debate has that quality of almost having a logic until you look at it again you know it's it's almost sensible it's like the the savings on only seven I don't you think well it should save a little bit and then as you know congressman have bagged people to explain so it's dark until nine o'clock don't you turn on your lights were you wouldn't have before another person just looks stunned at the other side of the microphone and things no no it's a big call saving the big big home heating oil and the confidence again but when we get in seventy four the school said that we didn't have Sunday the building so we had to add more heat to those buildings to get them warmed up for the children no no it's a big electricity so and you can see that every time you press set up part of the problem is repeatedly and I can hear you it's sort of touching because I I mean I love the other people are as confused as I was I thought I was alone you know I thought I was the stupidest person in America who couldn't get this our thing straight you still read constantly this week I've been reading it all over America the idea of well the if we have more daylight we use less electricity well that would be lovely if we could get more daylight but we can't invent more daylight so we have a fixed number of hours of sun every day but people really get caught up with the notion of will give ourselves an extra hour you know it's sort of on the house and spend as you please it's it's compelling because it's a romantic idea that we can somehow length in our day but it's a problem you know I was saying earlier every culture has dealt with that the Romans were Scott themselves deeply attached to the idea of even day and night they love this idea of perfect symmetry so what they did is they change the length of the hour so as summer came that Roman our grew to be seventy.
"ten thousand barrels" Discussed on Drilled
"The Climate Investigation Center report picks up where they and the Center for Public Integrity left off back in two thousand fourteen and two thousand fifteen in two thousand fourteen. CIC surveyed PR firms in their approaches to climate change and then the Guardian Suzanne Goldberg asked the country's top firms whether whether they would refuse to promote climate dial or to set up front groups and things like that that would ataman one of the first firms to use these tactics on behalf of big oil. L. said it was not something that they were doing but shortly after. That story came out. A Trans Canada memo was leaked. That showed that wasn't true. We got ahold of a leaked eshelman woman. Trans Canada document in later in that year where they showed their entire battle plan for how to get a pipeline that would be the alternative to the keystone in pipeline from Alberta to the Atlantic Ocean and it included all sorts of mercenary tactics. It shows you that these you know public affairs. Here's and PR is much more than advertising that you see on television interview you see a campaign for the you know the new hamburger with French fries on it. That's a that's a different level than a full public affairs campaign for a corporate enterprise or a damage control campaign eh eh. delman had to shun the American petroleum. Institute's money after that but they thought of an easy solution. A Spun Business Unit called Blue Advertising off into its its own business which continued to work for. API last year. That account appears to have gone to a firm in Texas called Jesus and M which produced API's power past impossible campaign. You might have seen the ads for this. During the Super Bowl. Vivid and flashy there's rapid-fire text on the screen listing all the aspects of modern life. That we wouldn't have without oil has a high energy soundtrack to match the website goes along with it and now we're starting to see the different media parts of that campaign. Get into into various media. Outlets Kurtz report found the industry trade groups spend about one point four billion dollars on PR advertising and lobbying from two two thousand eight to two thousand seventeen keep in mind that doesn't include what each individual company may have spent or what either companies or the industry spent dental lobbying in fact a few days after the CCA report came out a UK based group called influence map released. Its latest report which concluded that oil majors have spent about a billion dollars on green pr. Since the Paris Agreement in two thousand sixteen. That report also found that these companies will invest one hundred and ten billion dollars in new fossil fuel production in two thousand nineteen compared to around three point six billion dollars on low carbon technology which includes everything from carbon capture to renewable energy that advertising expand includes a new n pretty insidious form of what people call native advertising or sponsored content is not just running amidst editorial to`real on various publications websites but actually being created by them. The New York Times Brand Studio for example has unveiled major interactive campaigns for both Exxon. and Shell just this year for Exxon. The focus is on the company's algae based biofuels program these vibrant green dots living organisms are algae look closely. Algae grows almost everywhere from rookie ponds to out in the ocean and scientists interest recognized. Its potential to change our energy future. The goal to one day fuel our trucks and buses boats house cars even airplanes with the oil extracted from algae so health far could algae take us. Exxon Mobil is working working with synthetic genomics to figure out the answer with advances in molecular biology the energy from algae Qatar daily lives and lower the carbon emissions from transportation station by twenty twenty five. Exxon Mobil is aiming to have the technical ability to produce over ten thousand barrels of algae based biofuel per day enough to potentially power tens of thousands of cross country flights annually and over. Its life. Cycle this biofuel will admit only about half as much greenhouse gas as traditional fuels. Algae derived fuel could help us meet growing demand while reducing emissions. And it all starts here. That's unexpected expected energy from Exxon Mobil for Shell. The New York Times brand studio created an animated info-graphic alongside. Okay very near time sounding story about how we could get to quote emissions free by twenty seventy never mind that we need to get a lot sooner over the Washington Post The Washington Post brand studio just released its new campaign for the American Petroleum Institute. Its focus natural gas as the solution to a low-carbon future. Every journalist I know gets defensive or even a little angry at the insinuation here you know. There's a division between at and at the say and I do I do. But here's the thing to readers because these have tiny little labels of talk the indicate they're paid posts but otherwise they look sound and read just like the outlets editorial coverage and more often than not they show up right alongside light it so readers see a reported piece on one side of the page oftentimes a report a piece on climate or renewable energy and then they see something about excellence new. Algae biofuels uh-huh fuels right next to it. It's probably not a coincidence that these things started appearing right around the time that newspapers stopped doing the whole false equivalency thing on climate change and letting climate deniers have say just like oil companies helped to invent the OP. Ed and the adver to`real back in the seventies and eighties. They've they've invented this new form of communication to make sure that they can get their voice heard and have as much of an equal footing as they can the fossil fuel industries stories influence on the media is deep and broad and as a really long history. It's not so obvious as some guy in a top hat and tails within mustache. Ashed twirling it and showing up at your desk and shouting at you to spike a story. It's a lot more subtle which means it's also more effective and it's been going on for decades. Yes and you know what oil companies don't spend tons of money on something every year for decades if it doesn't work that's it for this time I am busily working on a new investigative series that will be dropping next month. Look out for a preview of that in the next couple of weeks and will be releasing a new episode every day the week of April twenty. Second Yep I know Earth Day see then thanks for listening drilled is produced and distributed by critical frequency reporting is done by me executive producers these are Richard Wiles Katie. Ross and me our story consultant. Is Rica Murthy. Our theme music is by Martin. Wissembourg are cover art is by Lucas. Hausky drilled is made possible in part by generous grant from the Institute for Governance and Sustainable Development. We really appreciate. There's a board you can find drilled wherever you get your podcast. Please remember to rate and review the PODCAST. It helps us finding listeners and fight climate deniers. Thanks a lot. CNN time.
"ten thousand barrels" Discussed on Bloomberg Radio New York
"David there is less today about the traded Tyson it is about the money factoring day to the I. S. send data out of the U. S. eight school the rebuttal sport index fool and it has risks obviously a full the rest of the year two yeah I think the dates of service a lot worse than expected in the look of the sub indexes is pretty poor because this is one piece of the dates and the market will very quickly the folks in the non manufacturing awesome day to the payables thanks this week but I think the recess to study skewed even that date comes in line Saudi ski for total weakness and here and I think some of this may two two year and positioning squaring none of dialogues I know so the key thing was the focus is the other side the question comes he see gains with pound you over to a brexit annex you can election coming up should boys jobs and get a majority that's pounds sterling and it was a boy with you and it on the you have the C. B. coming and christen the gorgeous they didn't sound very dovish she gently is but I think just to get a total would be surprised if the statement of the C. B. may eighteen this site will will wait and see we may cut but wait and see and I think that might give the your little place so always come by this I think the dollar call and so it doesn't tank I think it might going that way in two year and David did Australia the Aussie dollar climbing quite a lot only I'll be a is holding the key interest rates do you see them still cutting right section yeah the opiates definitely of the class hopefully get and this is for the central bank that in a minute said last month they will think of cutting so at the moment that the vehicle they come in they said that some of the risks of lessons they see inflation pick up three percent next year and the year often traipsing quote from twenty twenty once is already positive but at the end of that sort of problem the RP a neon BJ's that case of themselves the natural way of unemployment four point five it's five point three at the moment so lots of excess capacity the economy they said why it is all going to go out and say we combine those two thought well how you gonna get inflation is very tough to get information in that environment so I think that they will cut next year these the old to still be processing fabric to implement IT comes up to me then now and then but we fight because this type of multi policy but not serving the first off just for the record the market right now as possible a fifty percent chance of a come fabric but this does sissy I caught some point next year great thank you so much David Finnessey real time market commentary and analysis to have markets life thus M. L. I. V. O. newbie make terminal no new ECB chief Christine Lagarde has told you let lawmakers with policy makers will be quite resolute in restoring it eurozone price stability on her watch she also stressed the upcoming review strategy will be wide ranging I will include the effects of climate change as well as low inflation zero area growth remains weak with gross domestic product growing by only point two percent in the third quarter of twenty nineteen and this witness has been mainly due to global factors and the goblet chef first ECB policy meeting on Thursday of next week indeed that meanwhile to Chinese companies have failed to repay bonds worth more than half a billion dollars Bucks a shot so much has more baking university found a group was unable to secure sufficient funding for a two hundred and eighty five million dollar bond and told to off to electric failed to delivery payment on interest and principal on a bond almost that size the quickening speed of bond defaults in China especially among ailing private firms highlights the growing risk of China's worst economic slowdown in decades their access to the banking sector remains limited as lenders focus on the politically influential state owned enterprises in Hong Kong I'm Machon Selama the Bloomberg daybreak Europe oil production among OPEC members has fallen ahead of a strategy meeting with independent allies in Vienna this week and gala says output slid to its lowest level in a decade what Iranian production fell further having already been squeezed by U. S. sanctions to its lowest since the nineteen eighties total OPEC output from a hundred and ten thousand barrels a day to twenty nine point seven million a day last month okay Sir thank all top stories that get all the latest there include this is the best.
"ten thousand barrels" Discussed on WZFG The Flag 1100AM
"Challenges is Matt when do you think that the two point two two million barrels a day as possible when I look at how quickly that these wells are coming on now with the technology we just recently had a record set by one operator an initial production the IP of that well which is the production over twenty four hours the very first twenty four hours of that well of ten thousand barrels per day unbelievable. we were impressed back in two thousand nine when it was four thousand barrels a day and then I'm gonna Grand Forks at the petroleum dot meeting down there with the students last week and I am told that the company went one of our operators just didn't I. P. of twelve thousand barrels a day so if you have ten thousand barrels a day twelve thousand barrels a day Scott where we gonna hit two two million barrels I would say it's going to be by twenty twenty one we're going to be at two two million barrels a day no that's just amazing and why is that happening how is that happened technology it's really about it's really about these producers these producers are the smartest most efficient they are absolutely top notch we just listen to Chris Milken a conical Phillips speaking to this group and remember this is the this is also the business meeting of this group this is the industry you know it group that comes together for their annual meeting and what was Chris talking about with Konica Phillips he's he's he's saying why are we here why did you come back to the U. S. why did you come to for Scott ota yells from Scotland you can hear his answer this is where the action is. is happening is that great it really is an amazing thing to see for sure well thanks so much for all your great leadership look forward to informing our audience as much as possible on these issues whether be flaring whether it be the the push to two million barrels and everything else or what we want to be part of the solution here and certainly you know I hope encourage more people to be really active then a defending this industries a challenge.
"ten thousand barrels" Discussed on Biz Talk Radio
"A higher dollar intruders positioning themselves ahead of today's USDA report the only real fundamental news that we had yesterday was that the weekly ethanol production report which place production last week at one million twenty three thousand barrels per day that's an increase of ten thousand barrels per day over the previous week was also encouraging to see at all stocks decreased by one point three million barrels down to twenty two and a half million heading into today's report which comes out at high noon eastern time the average trade yes is that we'll see the USDA put the national average yield a hundred and sixty seven point two bushels per acre with total production of thirteen billion six hundred and seventy two million bushels it is interesting to note all distance crop rating started we've never had a crop that was rated below sixty five percent good to excellent did yielded a national average yield of over a hundred and sixty bushels per acre and right now this crop is rated at fifty five percent good to excellent so it's going to be really interesting to see what deals really look like one harvest gets rolling as I record this the overnight spot corn futures are trading two cents higher after having good rally on Tuesdays surveys experiences that back what was it also China had not waive the twenty five percent tariff on Serbian heading into today's report the trade is looking for the U. S. stand again with the national average yield a forty seven point two bushels per acre with total soybean production coming in as three billion seven hundred and twenty million bushels in the overnight train sponsor of integers are trading eight cents higher the wheat markets were weaker yesterday's I took their cues from corn and beans December Kansas city we drop back below the twenty day moving average after breaking it Tuesday for the first time since mid July now today's report the USDA is expected to get was ending stocks number of just a touch over a billion bushels looking overseas we see that you cranium grain traders union raise their forecast yesterday for the two thousand nineteen we. but six hundred thousand metric tons puts their current estimated twenty eight point two six six million metric tons in they're estimating that twenty one million of them twenty eight million is going to be exported in overnight trading Chicago is three cents higher Kansas city is up a penny in Minneapolis is currently training for cents higher as a record this cotton futures continued to trade in a very tight to arrange vault trained fashion yesterday we saw the December futures close up three points as a seller fifty nine thirty seven new overnight trade we're still a little more action with this five futures up fifty points as a record this live star if you just had a mixed session on Wednesday with cattle higher and hogs a touch lower October live cattle futures finish today two dollars and thirty five cents higher while October feeder cattle were up two dollars and ninety seven and a half cents for the session lean Aug each is on the other hand were lower for the day with the October futures closing down two dollars and fifty five cents. remote futures at another great day on the October futures closing up twenty five points to settle at eighteen forty one as we made another life of contract time it's been kind of interesting to watch Israel in a class three milk features it appears as if we have a good butter and cheese demand and doesn't hurt the dough way was one of the products that China lifted they're terrified unfortunately some responses also created by the closing of what some smaller dairies in the overnight train spot futures are trading an additional thirteen points higher cash livestock markets were split the day ended with choice these boxes getting back like a penny on as they dropped five dollars and forty nine cents to sell.
"ten thousand barrels" Discussed on WSJ Your Money Briefing
"Here. The extraordinary secrets of how to thrive in disrupted world, the old rules of management are not ready, correct anymore. So what works making a wise, pivot, pivot to the future, will I am Omar Abba, subscribe wherever you get your podcasts. Here's your. Money briefing, im JR Waylon at the Wall Street Journal in New York. Plenty of investors on Wall Street or more than a little nervous about the longevity of the current market rally will not options investors. Currently they're feeling full steam ahead. We'll explain in a moment. I these money and market stories you should know if you live on the east coast, get ready for higher gas prices. No, not because of flare ups with Iran, but because of an explosion and fire at the biggest refinery on the east coast. The Philadelphia energy solutions says it is going to permanently close. It south Philadelphia refinery within the next month that refinery currently yields about one hundred and twenty five thousand barrels per day of gasoline, and one hundred ten thousand barrels per day of diesel, and here's something to brighten your day. The key to a long and happy. Life includes gossip getting plenty of sun, and not working in an office. That's what people fifty five and older said, in a recent survey by a British healthcare group focused on living. Well. When everything was sorted out in a list, the top five were having a loving partner being close to family, laughing every day during regular exercise and getting out, and enjoying nature, and then picking through the list of it having a job you love was number nine traveling and getting enough son showed up in various forms around number twenty and number twenty seven was eating chocolate cake in moderation. Capital. One knows life doesn't alert you about your credit card. That's why they've created Iino the Capital One assistant that catches things that might Lefranc with your credit card. No catches over tipping, duplicate charges or potential fraud. And then sends an alert sheer phone and helps you fix it. It's another way capital. One is watching after your money when we're not Capital One. What's in your wallet? See Capital, One dot com for details. We reported here on your money briefing that.
"ten thousand barrels" Discussed on Bloomberg Radio New York
"Take. A look at the oil market now as well as a show, producer, whatever. There's a ceiling that we had for oil prices because shale production would kick in at that point. How the dynamics changed of the industry. Well, in some ways, the dynamics were the same as they've always been, and it's a it's a large global market and at the end of the day supply and demand or forward. Perceptions of supply and demand are really what sets price shale presents a new source of supply. And so I think that's introduced a new dynamic, and you certainly have seen OPEC now beginning to try to respond to the steady and growing production out of the United States with some production cuts. This can be. Also, then accentuated by the announcement of sanctions against certain countries. The problems we see in Venezuela. And so the fundamentals of the industry haven't changed. I think the dynamics of the supply and demand drivers are always in flux, and there a mix of economic development and geopolitical circumstances around the world. That was the Chevron CEOs speaking there quick reminder, of course, that we are keeping a close eye on what's happening in these markets. We spoke earlier about the moves in crude oil and much of that is related to what the Saudis have been doing. There are now looking at a four year low of nine point eight million barrels per day in March. That's according to the latest Bloomberg data OPEC's production as a whole is down for a fourth straight months of Saudis, very aggressively pushing forward with that. And then as you think about what's Chevron plans to do over the coming few years. You also consider that Saudi Aramco is taking its ambitious to the next level as well. There's interesting piece that breaks down the size and scope of the Saudi Aramco numbers that have come through in their latest disclosures to some of the ratings agencies, and one point that's being made is that ten thousand barrels a day of oil are being actually lost which isn't much by Saudi Aramco standards. We're talking about zero point one percent. Of total out. But but that is that is how large this company is now let's get your steps out of what we'll be talking about..
"ten thousand barrels" Discussed on WAFS Biz 1190
"Looking pretty flat when it comes to Asian stocks. If petered out a little bit, but pretty much flat on your regional benchmark here at the moment after the decent games that we saw on Monday here. So there is this sense of consolidation when it comes to stocks, despite the fact that yields are backing up again when it comes to global bond markets key to note, though, is some key crucial levels that we are reaching for the sense sensex. We are at record highs right now from the right now thirty eight thousand eight hundred ninety or so hang sang as well. After entering into that bull run. We are slightly higher by about a tenth of one percent, but engine closer thirty thousand level as well. And really join the ranks like China in that bull market run and GP's interesting to know just now that we did see a pretty strong bond auction there, despite the fact that these bonds are looking a little bit expensive at eight and negative eight basis points, I should say the strongest bid to cover ratio we've seen in thirteen years, which is quite remarkable. We are seeing yields just lower by about. One basis points here. Take a look at this terminal chart, though, we take a look at the risk on rally that we've seen and everyone's saying that look the Chinese PM my turning that really is lifting all boats here to what extent that actually means the same datum previous stimulus cycles, perhaps as a little bit different this time around because China this time is focusing a little bit more on domestic demand and boosting that so perhaps is not going to benefit as much on Chinese stimulus than it has four. And we certainly are seeing that here this robust violent rally that we saw the beginning of the year and yellow here is China the rest of the white there is emerging markets as well. Some of the boars we'll show you some of the movers that we're watching in particular. We have earnings obviously front and center rocker ten is one that we're watching though we're following something about four and a half percent in Tokyo here today, this is after we saw list the stock price there, go below its IPO price after that debut. So ragged time being one of the big shareholders. They are falling out of favor as well. While Joe auto earnings came out, it seems that the Chinese auto slowdown here really weighing on earnings here stock down some four percent galaxy entertainment one of the big movers on the Hang Seng here today, the Macau gaming revenue for March wasn't as bad as what analysts were expecting. They're expecting about a three percent drop. We were slightly higher than that still negative territory by about zero point three percent. But still we are seeing a bit of a relief rally of these casino stocks and Han hi searching for a second day here today, strong profits a surprise profit gain here for the fourth quarter, certainly making the analysts pretty excited their Yussef. Thanks very much for that. Let's get back to this part of the world. Talk about Saudi Aramco's. It is the world's most profitable company. But that's still might not be enough to persuade investors that the energy behemoth is worse the kingdom's aspirational figure of two trillion dollars. Now, you financially tales the skulls by Moody's Investor Service show, the company paid slightly more than fifty eight billion dollars in dividends to Saudi the Saudi government last year working back from that Aramco's valuation would be closer to one point two trillion. Investors judge it by the same metrics as the other oil giants out there. Let's bring in our middle. East finance reporter Matthew Martin, Matthew. I was looking at some of the other numbers. Saudi Aramco loses apparently ten thousand barrels a day of oil accidents leaks. What have you zero point one percent of total output? Apparently, they have too much oil to make a big deal out of that the other parts of the accounts. What exactly are we stringing together for the valuation? Well, what you can tell from looking through the accounts. This gives us the first time ever a really detailed look at some of the Aramco's accounts. So we can see that. They're painting around your nearly sixty billion dollars in dividends to the Saudi government. I'm looking at some of the other numbers in there and applying a dividend yield of about five percent, which is the sort of industry. Standard for energy companies. You can work that back and give around evaluation all's almost one point two trillion dollars. So this is still some way off the magic number of two trillion dollars at Hamad bin Salman has said that he thinks the company should be worth. And we've seen a huge amount of work being put in trying to get the company to evaluation and what we're seeing so far. It's probably just not there yet dividends are incredibly important part of the play overall within the majors. And so to that end. It's not a bad. Benchmark. There is still a pastry. Fifty eight billion dollars is the top line number. But only fifty two billion of that is actually in tax. So again. Could the government do to increase the valuation in terms of is it less take for us a little bit more for you? The investor then there are a few levers that the government still has that it could tweak. We've already seen them while ago. They changed the way the tax regime worked in the royalty payments. So try an Ulta the equation. So you could see the government doing that. Again, the difficulty will be that as the government looks so tweaking that to try to increase the payout that investors will get an of the government will remain the largest investor in Aramco. But as it looks at tweaking those numbers, the government's take probably will be reduced and in a situation where a Saudi Arabia is in deficit and is going out and borrowing in the bond markets, and it has massive investment scheme as well that it wants to go through whether the government will want to tweak the tax regime gain is going to be a question that will ultimately be up to Mohammed bin Salman. And how much he really wants to push this two trillion. Magic number. It's been a very busy few weeks four Saudi awry. Armco and for SABIC as well. I mean, an investor on the sidelines looking at this is going to say, well, clearly the making a lot of progress. They're moving ahead. The train is headed in the right direction. Where does that leave the IPO for Aramco? Well, I think again, you know, it's going to be up to Mahama been so mad and how much does he really committed to this two trillion number. We've seen him in interviews. I think at least two or three times he has come out and said that around here is going to be worth that amount. The Savak acquisition is going to be is part of the rationale of trying to create Aramco into a more diversified company. Push it downstream pressure into other areas, the energy industry to try it increases valuation. The Savak acquisition alone, though is probably not gonna be enough to push up to two trillion dollars. So we're I think we're still seeing an Aramco IPO at at some years off. Okay. Well, certainly they're going to get the dollars in after the Savak to anticipate accent that gives them the window that they need Massey. Thank you so much that is our Middle East finance supporter. Matthew Monness bring into the conversation director of capital markets at FFA private Bank in Dubai. She John's Yousef, and so the valuation. Matthew says two trillion is still a long way away. But the prophet numbers. There's no doubt about it. They are really quite splendid at one hundred eleven million one hundred eleven million. That's that's the data that we got yesterday. What do you make of the reveal the big rigging? Now. The earnings are very good earnings. Definitely can everyone was expecting that. I'll at least not many my politics. Sorry. Everyone was expecting good results from Adam Cornell. These come surprising. They they're definitely very good news for everyone, and especially for the markets and the Saudi and Saudi and specifically specifically Savak if we're going to look at it at this point. Because when we're looking at the company, which is acquiring another. And in this case, it's acquiring Savak making such huge profits and Savak being the top company profitable, profitable wise. Profitability wise in the towel. It's something that would does investor's attention. There are two big companies that are actually if in their own sectors. Let's put it that way. 'cause we can't compare to SABIC, but and we see that kind of acquisition happening indefinitely triggers some sort of positive sentiment confidence to investors to invest in the energy sector in the Saudi market that this point in time. Marie the idea of a lot of capital flowing into the hands of the Saudi government, and that they might redeployed and other ways you consider that Saudi government entities own quite a lot of stock onto Dowell me. Could this be perhaps a sign that some of the capital gets directed into back into Saudi equities are now the thing is when we look at cash or whatever liquidity available with government doesn't always have to be invested in the stock markets in particular in Saudi we've heard a lot a lot about infrastructure. Enhancements and stuff like that doesn't always have to be. It could get to. And specifically now if we look at the public investments on the efforts, it's also something they getting liquidity. And and this gives them the long-term sort of investment, whether the government or to the investment funds in order to be able to go further with their infrastructure is and their stability around economically. Now, we know you like a Bank. Let let let's give it to the Eubanks. We've done a couple of pieces of not we have we we have Adleman Christie who is our banks research analyst he's talking about profitability. And this is what I want to gauge your sensitivity to this. He reckons profitability is can slow down this year from around eleven percent, maybe five to seven percent who were is the weakest link in the Bank chain. Who the weakest are? Now, we've definitely seen a lot of consolidation. So we're gonna just get away from those 'cause when's consolidation happens. We see a lot of strength and the entities. I'm not gonna talk ABC be. I'm not gonna talk and be at the stage. Not although they have a lot of things going on at this point in time. But to probably look at the smaller banks where we have seen a lot of some issues or some things that we actually of concern to investors. I'm not gonna name in parts of anything. It's going to be a bit tricky at this point in time. But as Yoda Porter's, oh, your analysts have mentioned, we have we have been extremely bullish on the banking sector. And we we are not trying to withdraw dot at this point in time. But there's always the point in time where you need to slow down with your investments and tried to look on profit-taking and the being bit conservative on how you look at certain things we've seen banks going extremely rallying and the pastor quarter or so and it's about time. I think we start. Booking profits and monitoring what's going to happen, especially with the new changes that are going to take place. Closing thoughts on crude oil and how that might play into some of your calls for some of the Gulf equities. That's creeping back up argue this is this is good news now. Now, we have seen a bit of civility around that even with the changes in the oil prices were still a bit comfortable with how how the effect is going down on the Gulf equities in particular. And if we look at the oil and gas sectors in particular and the region, whether it's in the Saudi Arabia where but we believe that investors and governments and companies have sort of absorbed dot sort of change and the code and in the production that we're seeing around Mary always great to get your input. As you say, let's see what the realistic valuations for Saudi Aramco when it all comes to pass. Mary Salem, director of competent marketed FFA probably.
"ten thousand barrels" Discussed on Bloomberg Radio New York
"Thanks. Still looking pretty flat when it comes to Asian stocks it Peter out a little bit. We're pretty much flat on your regional benchmark here at the moment after the decent game that we saw on Monday here. So there is this sense of consolidation when it comes to stocks, despite the fact that yields are backing up again when it comes to global bond markets key to know, though is some key crucial levels that we are reaching for the sense sex. We are at record highs right now from right now thirty eight thousand eight hundred ninety or so Hang Seng as well. After entering bull run. We are slightly higher by about one tenth of one percent, but engine closer thirty thousand level as well. I really join the ranks like China in the bull market run. Nj GP's interesting to know just now that we did see a pretty strong bond auction there, despite the fact that these are looking a little bit expensive at eight and negative eight basis points, I should say the strongest bid to cover ratio we've seen in thirteen years, which is quite remarkable. We are seeing yields just lower by about one. Basis points here. Take a look at this terminal chart, though, we take a look at the risk on rally that we've seen and everyone's saying that look it's the Chinese my turning that really is lifting all boats here to what extent that actually means the same as it did in previous stimulus cycles, perhaps as a little bit different this time around because China this time is focusing a little bit more on domestic demand and boosting back. So perhaps. Is not going to benefit as much on Chinese stimulus than it has four. And we certainly are seeing that here this robust violent rally that we saw the beginning of the year and yellow here is China the rest of the white there is emerging markets as well. We'll show you some of the movers that we're watching in particular. We have earnings obviously front and center Rocketdyne is one that we're watching though we're following something about four and a half percent in Tokyo here today, this is after we saw list the stock price there, go below its IPO price after that debut. So racket time being one of the big shareholders of lift they are falling out of favor as well. While Joe auto earnings came out, it seems that the Chinese auto slowdown here really weighing on earnings here. A sock down some four percent galaxy entertainment one of the big movers on the Hang Seng here today, the Macau gaming revenue for March wasn't as bad as what analysts were expecting. They're expecting about a three percent drop. We were slightly higher than that still negative territory by about zero point three percent. But still we are. Are seeing a bit of a relief rally and some of these casino stocks and Han. Hi searching for a second day here today, strong profits a surprise profit gain here for the fourth quarter, certainly making the analysts pretty excited. They're yousef. Thanks very much for now. Let's get back to this part of the world. Talk about Saudi Aramco. It is the world's most profitable company. But that's still might not be enough to persuade investors that the energy behemoth is worse the kingdom's aspirational figure of two trillion dollars. Now, you financial details disclosed by Moody's Investor Service show, the company paid slightly more than fifty eight billion dollars in dividends to. So these are the Saudi government last year working back from that Aramco's valuation would be closer to one point two trillion. Investors judge it by the same metrics as the other oil giants out there. Let's bring in our middle. East finance reporter Matthew Martin, Matthew. I was looking at some of the other numbers. Saudi Aramco loses apparently ten thousand barrels a day of oil accidents leaks. What have you zero point one percent of total output? Apparently, they have too much oil to make a big deal out of that the other parts of the accounts. What exactly are we stringing together for the valuation? Well, what you can tell from looking through the accounts. This gives us the first time ever a really detailed look at some of Aramco's accounts. So we can see that they're paying around. Your nearly sixty billion dollars in dividends to the Saudi government. I'm looking at some of the other numbers in there and applying a dividend yield of about five percent, which is the sort of industry. Standard for a lot of energy companies. You can work that back and give around evaluation of almost one point two trillion dollars. So this is still some way off the magic number of of two trillion dollars, which Muhammad bin Salman has said that he thinks the company should be worth. And we've seen a huge amount of work being put in trying to get the company to that valuation. And what we're seeing so far is that it's probably just not there yet. Well, look dividends are incredibly important part of the play overall within the majors. And so to that end, it's not a bad. Benchmark. There is still a pasty fifty eight billion dollars is the top line number, but only fifty two billion that is actually intact. So again, what can the government do to increase the valuation in terms of is it less take for us a little bit more for you, the investor they're they're all a few levers that the government still has that it could tweak. We've already seen them while ago. They changed the way the tax regime worked in the royalty payments works try and Ulta that equation. So you could see the government doing that. Again, the difficulty will be that as the government looks at tweaking that to try to increase the payout that investors will get an of the government will of remain the largest investor in Aramco, the as it looks at tweaking those numbers, the government's take probably will be reduced. And in a situation where Saudi Arabia is in deficit, and it is going out and borrowing in the bond markets, and it has massive investment schemes as well. That he wants to go through whether the government will want to tweak the tax regime gain is going to be a question that will ultimately be up to Mohammed bin Salman. And how much he really wants to push this two trillion. Magic number. It's been a very busy few weeks for Saudi Aramco and for SABIC as well. I mean, an investor on the sidelines looking at this is going to say, well, clearly they're making a lot of progress. They're moving ahead. The train is headed in the right direction. Where does that leave the IPO for Aramco? Well, I think again, you know, it's going to be to Mohammed bin Salman. And how much is he really committed to this two trillion number. We've seen him in interviews. I think at least two or three times he has come out and said that around co is going to be worth that amount. The savage acquisition is going to be is part of the rationale of trying to create Aramco into a more diversified company. Push it downstream pressure into other areas of the energy industry to try it increases valuation. Sabic acquisition alone, though is probably not gonna be enough to push it up to two trillion dollars. So we I think we're still seeing Ramco IPO at at some years off. Okay. Well, certainly they're going to get the dollars in after the Savak accent that gives them the window that they need Massey. Thank you so much that is our middle. East finance reporter, Matthew Monness bring into the conversation director of capital markets at FFA private Bank indivi-. She John's Yousef, and so the valuation. Matthew says two trillion is still a long way away. But the prophet numbers. There's no doubt about it. They they are really quite splendid at one hundred eleven million one hundred eleven million bucks. That's the data that we got yesterday. What do you make of the reveal the big thing? Now. Mannasseh? The earnings are very good earnings. Definitely. And everyone was expecting that. At least new idiot, not many my politics. Sorry. Everyone was expecting good results from Adam Cornell, these come but surprising. They definitely very good news for everyone, and especially for the markets and the Saudi and Saudi and specifically specifically salvage if we're going to look at this point. Okay. Because when we're looking at the company, which is acquiring and mother and in this case, it's acquiring Savak making such huge prophets and SABIC being the top company profitable, profitable wise. Profitability wise, the end the undeterred, our it's something that does investor's attention there too. Big companies that are actually if it in their own sectors. Let's put it that way. 'cause we can't compare to SABIC, but still and we see that kind of acquisition happening, it definitely triggers some sort of positive sentiment. Confidence to investors to go in. Invest in the energy sector in the Saudi market at this point in time. Marie the idea of a lot of capital flowing into the hands of the Saudi government. And that they might we deployed and other ways you consider that Saudi government entities old quite a lot of stock on the two Dowell me. Could this be perhaps a sign that some of the capital gets redirected into back into Saudi equities are on? Now. The thing is when we look at cash or whatever liquidity available with government doesn't always have to be invested in the stock markets in particular in Saudi we've heard a lot about infrastructure. Enhancements and stuff like that doesn't always have to be. Could get to and specifically now if we look at the public investment fund efforts, it's also something they're getting liquidity. And this gives them the long-term sort of investment whether to the government or to the investment funds in order to be able to go further with their infrastructure and their stability around economically. Now, we know you like a Bank let let's give it to the Eubanks. We've done a couple of pieces of not we have we we have Adleman Christie who is our banks research. He's talking about profitability. And this is what I want to gauge your sensitivity to this. He reckons profitability is going to slow down this year from around eleven percent, maybe five to seven percent who or where is the weakest link in the Bank chain. Who the weakest now we've definitely seen a lot of consolidation. So we're going to just get away from those because when consolidation happens we see a lot of strength and the entities. I'm not gonna talk ABC be. I'm not gonna talk at this stage. Not although they have a lot of things going at out at this point in time. But probably look at the smaller banks where we have seen a lot of some issues or some things that we actually of concern to investors. I'm not gonna name importing anything. It's going to be a bit Turkey at this point in time. But as a Yoda portfolio, your analysts have mentioned, we have we have been extremely bullish on the banking sector. And we we are not trying to withdraw docked at this point in time. But there's always a point in time where you need to slow down with your investments and tried to look on profit-taking and the being a bit conservative on how you look at certain things we've seen banks going extremely rallying in the past quarter or so and it's about time. I think we start. Booking prophets and monitoring what's going to happen? Especially with the new changes that are going to take place. Closing thoughts on crude oil and how that might play into some of your calls for some of the Gulf equities scraping backup. Argue this is this is good news now..
"ten thousand barrels" Discussed on Bloomberg Radio New York
"The Bloomberg interactive brokers studio, this is Bloomberg. Best BP is set up a one hundred million dollar fine for projects that will reduce emissions of greenhouse gases from its oil and gas exploration and production operations over the next three years and add the new upstream carbon fund is in addition to the five hundred million dollars that BP has already pledged to invest each year in low carbon energy technology. Bloomberg's Alix steel spoke with upstream CEO Bernard looney about the outlook for crude oil price and demand Permian basin. Investments and efforts to reduce production emissions. Talking oil traders over in London at a conference talking about where we're gonna go. We'd all says sixty to eighty is the range. What do you say? Well, I think probably stay prices are up about a third since the beginning of the year, and that's really down to a couple of actors. Really there's a lot of geopolitical risk out there and compliance is on the if you break it down, Alex, I think if you look at demand demand remained strong. We're still above the ten year average. We think this year. Prices are still less than they were one dollars an average last year so demand strong on the supply side, the US shale machine keeps going real gross stare opaque is increasing compliance as the months go on Russia coming out of winter. I think easier for them to comply Saudi Arabia, certainly doing a lot. And then did you your politics? Venezuela humanitarian crisis what's going to happen to sanctions in Iran. So it's an uncertain outlook on sixty eight. I think it's probably a reasonable fair for producers fair for consumers. We try not to spend all our time trying to figure out what it is. And I'm really concentrate on the things that we can control is your production and traffic at the same conference. Also said that the Permian basin is going to be the biggest oilfield in the world like twenty twenty three IBP now has PHP's interest in that it's still relatively small. What are you going to be your plans for that area? So we took over to six on the first of March. So it is relatively fresh for us. We've got about eighty eight thousand acre. There will grow the Permian position. We've got three areas we're focused on the legal eagle for the Permian. We're running about sixteen rates today. We'll probably start off for the majority didn't investment go for it in the hands. The bottlenecks unleashed will shift more into the. That sounds spending thirty billion chevrons spending twenty two billion. You guys just between fifteen and seventeen. How do you compete? How you scale up? Another big guys are like double the amount. We're trying to do is rebalance our portfolio in the United States today. We have in the on shore about we're about eighty five percent gas. We produce about ten thousand miles a day and liquids what we're doing through. This transaction is going from a business that produces about ten thousand barrels a day of oil liquids a business in the mid twenty twenty s between one hundred and fifty to two hundred thousand dollars a day. Is going to be sort of the future for you. They're going to be how low cost of barrel, and you get what technology can you use these the other guys try, and you're not doing that going to try this. Instead, I think the big technology for us is what we're doing what the team is saying. Forty-eight around the digital digital operations digitizing the people in the field. I think there's extraordinary opportunity right across the portfolio, whether it be production improvements cost improvements or indeed environmental improvements. So what we're seeing bringing people in from other sectors. Why we place our headquarters in Denver? We believe we can attract people from different industries to the business to bring that digital scale. You feel like you're going to scale quickly. Are you gonna take time? We're going to grow the business. We said that we're going to generate close to a billion dollars of free cash flow from that business in twenty twenty one. So it's a material part of our so that's part of your forty-eight onshore area. What about other places, I know Libya, for example, they wind up having production mind, they're counting on you guys be as well as some other national oil companies to invest in the area. Will you be we're in Libya, we have an offshore position. We have an onshore position we're working with partners there. We'll see how things have all been Libya. I think the real uncertainty for prices, I said, this is a whole number of factors. It's going to be around. Iranian sanctions what happens in Libya what happens to the man so Libya's party equation for sure, and we do have a position there. Reconcile. You're gonna put a lot of money into say things like sale, and that's gonna come online quickly. You're going to have cash flow positive, and then all of a sudden oil prices are going to go down because you get your spending so much and pumping so much. How do you deal with that? We have to focus on our break, even and that's what we're trying to do. We try to a very flexible portfolio, which we've improved through the lower forty-eight transaction with a very diversified position. So we're in today the jungle in Papua filling facility learned a deep water in the Gulf. We're in the desert, and we're in the Arctic and Alaska, so we do a lot of different things. And we believe it's diversity and that flexibility is how we thrive through this period of. Other part is new energies. And that's why we're Bloomberg. And he so Goldman Sachs out a couple of weeks ago that said this is the time for oil majors. They're finally back on top, but it strategically imperative for these companies, so they can reduce their carbon intensity is a year for you guys since you really Nelson targets we're doing really, well, we as you said one year ago, we announced celebrating energy transition. Framework three parts reduce our own emissions. Second part and crew products. Third create low-carbon distances on the reduce we set free targets methane intensity. Emissions reductions and zero net emissions growth. We're making great progress on those two and a half million tons delivered out of a target of three and a half. We've met are methane intensity targeted in two thousand eighteen we grew our business last year, but we shrunk our overall emissions. So we're doing really well. Remuneration now, thirty five thousand employees to do those reduction targets and today, we're announcing one hundred million dollar carbon funds to help come up with new ideas on how we separate from the five hundred million already committed suicide. Area. It's an addition. On the emissions. We've done a lot already. Our teams are absolutely engaged. The response. So far has been overwhelming. Ration- as a way of accelerating. It's also there's one hundred million dollars is a way of accelerating. And so we find we can do a lot with what we Scott. This is just a way of putting more energy. Shareholders say when it's hard to get that return right away. Kind of return from investments in new energy. We have to be what we would say progressive on pragmatic in this space. There is a real need in the world to reduce carbon emissions that is absolutely clear and at the same time the world needs more energy. You know, a very simple facts eighty percent of the people on the planet. Have never flown on an aircraft hundred million people every year are going to take a flight for the first time or the next several years. So we've got drive down. We've got a drive energy because that's what the world wants that was BP upstream. Ceo Bernard looney coming up Subaru of America president and CEO, Tom doll. This is Bloomberg. What percentage of global GDP is the United States half two-thirds? Guess again America is just twenty four percent, which means that seventy six percent of global GDP comes from outside of the United States Oppenheimer funds believes opportunity..
Alberta government imposes oil production cuts for province
"By the quotas, essentially agreed by Qatar Qatar is not committed to opaque agreements off to exiting the cartel that all according to catcalls oil minister, the Canadian province of a batter. Meanwhile, has ordered unprecedented cuts and all production to ease a growing crisis in the national energy sector. The plan will lower output of crude by three hundred and twenty five thousand barrels a day to draw down excess inventory. Canadian producers have been hammered by record low prices brought on by surging output, and the oil sands prices were at one point fifty dollars lower than US greats. Let's talk a little bit more about these markets and how they're being shaped by the all story this morning as well. As by the trade story, Bloomberg editor Toco Yamazaki joins us now tobacco. Great to have you on. So how are markets taking this trade? Truce from your perspective. Good morning, so summing it very simply the reaction seems to range from a bit of hope see professionally positive, but still work in progress. We're seeing some greens as you pointed out in Asia, and that's heading into European trading. But there are hints of skepticism from quite a number of sources we spark smoke into. They're saying that we've yet to see how off all this trade war will unfold. One of them was telling us that the China effectively bought time as a slowdown seen recently in their economy. Then they can't really afford to have a head to head conflict. This time around us the outcome. We saw and another was telling us basically saying that the US one eight two two against China. And that's because they managed to convince China to bring about structure economic changes by giving them sometimes on the terrace front, right? Yes. To some extent, I suppose. Something was in there for everyone. When it comes to this trade arrangement between the US and China. Let's also look a little bit more specifically at emerging market assets to mocha we're seeing both EM shares as well as currencies riding today. What do you think is going to be a big focus now four EM now that the Trump she meeting is out of the way? Right. So the big international event post, you twenty to focus that traders are telling us was the OPEC meeting on this Thursday and the deal between that you just mentioned between Russia and Saudi actually opens the door for a deal with the at the meeting and Vienna to discuss output cuts do take note that oil prices in November had suffered the largest monthly drop since the global financial crisis in two thousand eight so this could be a much closely watched event and also you mentioned about Qatar. Now, we're not seeing much of a retracing though, prices per is symbolic for OPEC that one of the. Members that have been there since the nine hundred sixty s are leaving. But in terms of producing seems like they account for less than two percent. So the direct impact may not be that big. Yeah. Absolutely. The country is the eleventh biggest oil producer within OPEC at about six hundred ten thousand barrels a day in October. So perhaps a major all pretty more of a gas producer. Thanks so much Taku Yamazaki for joining us this morning in for real time market, commentary and analysis. Check out markets live. That's M L I V on your Bloomberg terminal now in some more results from the g twenty or some more headlines rather from the twenty South Africa's finance minister says that the government is prioritizing regaining an investment grade rating on its debt as part of its plans to revive the country's stagnant economy. Speaking exclusively to Bloomberg inborn, Azzaro, Tito mobile weenie, says South Africa is focused on lowering debt and showing. Restraint in fiscal support for state owned companies prior to number one and number one because we have to get out of the statues that were in back to appropriate investment grabbing. And while did this change will not happen because we simply wanted to be the case the change will happen because of the things that we need to do. So that was South Africa's finance Minister Tito Mboweni now when it comes to Brexit this morning. The Prime Minister Theresa may is fighting in other grueling battle this week as members of parliament Sinclar teeth into her Brexit deal out of next week's crucial vote. Bloomberg's David Goodman reports on Monday politicians on both sides of the pressure might justify disagreed with the European Union by the government's ten legal advice and opinion, cold. Meanwhile, the opposition labor party feather a next week's key con intrigue. Oh signal propose a motion to bring down the government as is widely expected the prime minister's times in London, David Goodman, daybreak Europe. Meanwhile, the EU is also turning up the heat on Italy demanding of the populist government lowered budget deficit target from the state of two point four percent to below two percent, lower Republica, the Italian newspaper says Brussels want spending cuts of at least five billion dollars to potential sanctions for breaching E U budget rules. The Italian parliament will debate the proposed budget on Wednesday. But a look at our top stories when it comes to finance and business. Let's get some more headlines from around the world. Here's Bloomberg's Leon guarantee. Good morning. Good morning, Markus in France. President Macron is ordering his prime minister to hold talks with political leaders and demonstrators the yellow vests movement. This comes after another weekend of protests in Peres Burg's, Greg. This Cousy reports the president returned Sunday to inspect the. The damage and hold an emergency cabinet meeting afterwards, indicating is open to dialogue with the so called yellow vests who opposes tax and environmental policies, but the yellow vest movement is totally new phenomenon France, and so far hasn't been able to produce any leadership and its demands keep growing in Paris, Gregory gerski, Bloomberg daybreak Europe. Andrius man will Lopez operator was inaugurated as Mexico's president on Saturday. Bloomberg's Erik Martin says he's beginning to outline his vision for the country in his speech in the lower house of congress. He delivered a blistering attack on the energy industry overhaul passed under his predecessor investors are now looking to see which side of Lopez over or emerges as leader of the nation in Mexico City. Eric Martin, Bloomberg daybreak Europe. Prime Minister Benjamin Netanyahu's legal troubles are just getting was piece recommending that. The Israeli leader stand trial for bribery in a third corruption case from Tel Aviv bugs Jonathan I a reports this one. Involves allegedly trading favors with the chairman of Israel's biggest telecom company who says he's innocent and accuses police of conducting a witch hunt in Tel Aviv Jonathan Bloomberg daybreak Europe. And South Korean president moon. Jae-in has arrived in New Zealand straight from Argentina, we where he attended the g twenty summit, Bloomberg's Tracy. With us says talks are also expected to include North Korea. New Zealand Prime Minister, just send early Tuesday and is expected to update here on caused improve the World Trade Organization and on the truce in the US China trade war is New Zealand's fifth biggest trading partner and the to sign a free trade pact in two thousand fifteen in Wellington, Tracy with us. Winberg daybreak Europe cable news twenty four hours a day
"ten thousand barrels" Discussed on The Daily
"We'll do. Back. We've treated diseases with it, made toothpaste out of it, even wrap their sushi in it. But did you ever imagine that algae could one day fly you across country? Exxon Mobil. Scientists are developing process to turn algae into renewable diesel and by twenty twenty five. They hope to have the technical ability to produce over ten thousand barrels a day enough to power more than thirty four thousand transcontinental flights year. So where will algae take us? Next, that's unexpected energy from Exxon Mobil. Here's what else you can eat. The times reports that over the weekend, deputy attorney, general rod Rosenstein tooled to White House officials that he was strongly considering resigning after it was reported that he had suggested secretly taping, President Trump and discussed using the twenty fifth amendment to remove him from office Rosenstein read the idea of resign with White House, chief of staff, John Kelly, and White House counsel Don Mcgann. By Monday Rosenstein was so convinced that Trump was about to fire him that his staff drafted a statement about who would succeed so far he remains in his job, but is expected to meet with President Trump on Thursday to discuss his future. That's the I'm Michael Barr Sita. Fidelity believes nothing should come between you and your money. So they're introducing zero account fees with zero minimums to open accounts. Now you can invest with zero tradeoffs, visit fidelity dot com. Slash value for more zero. Zero count fees, apply to retail brokers accounts, only expenses, charged investments, such as funds, managed accounts, commissions, interest charges, or other expenses for transactions may still apply fidelity brokerage services member NYSE SIPC.
"ten thousand barrels" Discussed on Fareed Zakaria GPS
"Us tensions with china have been increasing over trade tariffs in recent weeks but there's something that is not increasing the amount of plastic waste the united states ships to china last year china announced it was banning the import of all nonindustrial plastic waste like water bottles and plastic bags and it brings me to my question roughly how much of the world's plastic waste has ended up in china since nineteen ninetytwo a fifth one third a half or two thirds stay tuned and we'll tell you the correct answer my book of the week is a classic john steinbeck's east of e if you're looking for a big fat book of fiction for this summer as i was tried this one it is to my mind the book that best illustrates the idea of the great american novel of rich saga families moving westward on a vast unformed continent making a new life and new nation a now for the last look i'm in the heart of london not too far from hypoc a three hundred and fifty acre area known for its lush green space and pleasant water features but this week the box soap anti lake has a stunning addition a massive stack of painted floating oil barrels this is an art exhibit by the bulgarian born artist christo ian his late wife are known for building large scale artworks that involve complex engineering the artists have wrapped buildings and landmarks and fabric like the reichstag in berlin and the partner in paris they set up thousands of colorful gates in central park and have constructed floating periods in italy that allow people to walk on water well this work is called the london masta christa told us about his newest engineering feat the muster proclaims bar seven thousand five hundred fixed bottles thac horizontally don't think the water floating is not support anything with not plenty heavy anchors in the water that seven thousand five hundred and six oil barrels of float in the shape of a mazda which is a trapezoid shape egyptian tomb of sorts it star presence as juxtaposed with the colors reflecting on the water creating an abstract painting on the lake now if you think we're still sculpture looks massive think about this opec just raised its target daily output of oil by one million barrels a day it would take more than one hundred thirty three copies of the london must've sculpture to contain all of those barrels but krista wants to come close he's planning a four hundred and ten thousand barrels stack for abu dhabi he says it will be bigger than the great pyramid of giza now that will be something to behold the answer to my gps challenge this week at sea roughly half of the world's plastic waste has ended up in china since one thousand nine hundred two and according to a new paper published in the journal science advances china's ban of nonindustrial plastic waste will leave the world with an additional one hundred eleven million metric tons of plastic to deal with by twenty thirty the impact will certainly be around the world the study found that in two thousand sixteen more than half of america's plastic waste exports went to china germany sent more than two thirds of its plastic ways to the middle kingdom while efforts to eliminate plastic straws and banned plastic bags are noteworthy in order to counter the millions of tons of waste bilan up around the world more initiatives to drastically reduce and manage waste world's surely be needed thanks to all of you for being part of my program this week i will see you next hello everyone thank you so much for joining the fredricka whitfield in washington dc i the us supreme court showdown president trump is about to head back to the white house from his golf club in new jersey where he spent part of the weekend interviewing possible us supreme court candidates justice anthony kennedy announced his retirement just a few days ago but president trump has already jumped into action saying he'll announce his new pick one week from tomorrow this decision has the power to transform the supreme court for generations and the looming nomination battle is already igniting a firestorm on capitol hill republican senator susan collins will be a key vote for the president she met with trump to discuss the vacancy and listen to what she told him i also encourage the president to broaden his less beyond the list of
"ten thousand barrels" Discussed on FoodStuff
"Had to get that out of my system no problem okay thank you the mint julep popped up several times in margaret mitchell's gone with the wind it was mentioned in f scott fitzgerald's book the great gatsby as well so it kind of that elitism thing share oh absolutely yeah william faulkner said to have enjoyed a mint julep in his day on occasionally go behind the bar at a hollywood establishment and make his sounds like him and ernest hemingway was allegedly threw a glass against a wall to bar in france angry at the inferior quality of his drink shouting doesn't denny in this godforsaken country no to make a mint julep the story goes i highly i highly don't believe this to i doubt this story goes that some travelers from kentucky overheard the kerfuffle and pulled out a bottle of maker's mark i knew oh kentucky his travel bourbon in their bag and they told the bartender to get some fresh mint and then they whipped up the quote real deal fun story dono you know i love i love i love a good fairy tale i do as well but the men julep what is it well it's the official drink of the kentucky derby since after prohibition ended in nineteen thirty eight these days about one hundred and twenty thousand are guzzled at churchill downs on the day of the that's about ten thousand barrels of bourbon sixty thousand tons of ice and one thousand pounds of mints that's quite a lot is supposedly the founder of the derby one meriwether lewis clark junior planted meant for juleps onsite at churchill downs when he founded the track in eighteen seventy five and specifically the julep is this really simple cocktail of bourbon simple syrup and freshman served over crushed ice there's some disagreement in the ratios involved but usually it's between a two to one and four to one bourbon too simple syrup simple syrup if you're if you're.
"ten thousand barrels" Discussed on Historical Figures
"Again's anything the competition needed to do their job standard simply bottlenecked any and all operations sounds like corporate sabotage in a way it was perhaps the very first instance of corporate sabotage on a mass scale in the us but again technically what rockefeller was doing wasn't illegal noone had dealt with a company this big and government regulation hadn't kicked in yet so rockefeller was just taking advantage of the system take it as you will he was smart in fact he was actually quoted as saying having competition is a sin and wanted to think he viewed competition as assume i'll though if he literally thought of competition as a sin but i think he considered it an affront to his operations that a business should seek absolute control of its market and strive to be the best more than anything i think he just conveyed this idea in biblical terms since that's how he was raised by the end of 1872 standard in the majority of the refineries in cleveland and perhaps the us they produced over ten thousand barrels of oil per day things were still getting better for the rockefeller family laura had just had another child edith on august 31st 1872 not uncommon for the era where some households at upwards of ten children laura took great care of the kids she made sure the children went to church got a proper education and remained humble despite their luxurious circumstances this was also while she was running several charities and fighting to see that women got a proper education rockefeller wanted his family to always have a better life so in aging 73 he moved them to their latest house a lavish mansion in the suburbs near lake erie cleveland this mansion had plenty of room for not only the grandparents but any visiting relatives nicknamed forced hill that became the center of the rockefeller family life throughout the 18 80s it was.