31 Burst results for "seven million barrels"

Saudi wealth fund boosts U.S. holdings with stakes in Citi, Boeing, Facebook

Bloomberg Opinion

00:36 sec | 1 year ago

Saudi wealth fund boosts U.S. holdings with stakes in Citi, Boeing, Facebook

"OPEC plus is responding to the oil markets collapse with urgency never seen before data show the program of production cutbacks this month as well on the way to trimming nine point seven million barrels of daily crude output that's about ten percent of global supplies and that's just in the first two weeks of the agreement yet worries at the heart of the hurried for Saudi Arabia's sovereign wealth fund which is central to the kingdom's economic overhaul the crisis has even forced it to find new ways to unlock liquidity we're hearing it's planning to borrow about ten billion dollars by pledging stakes in softbank group's technology investment vehicle as

Opec Saudi Arabia Softbank Group
"seven million barrels" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

06:55 min | 1 year ago

"seven million barrels" Discussed on Bloomberg Radio New York

"By Bloomberg powered by more than twenty seven hundred journalists and analysts in more than one hundred twenty countries I'm so Susanna Palmer this is Bloomberg this one is a retail feed commerce service might actually end up benefiting Netflix user research and data on two thousand companies and one hundred thirty industry fifteen story for the U. S. banks telcos naturally are moving into content distribution I think it's a good move hello Alex stealing polls we over the next hour we're gonna dig inside the big business stories impacting Wall Street and the global markets each and every week we provide in depth research and data on some of the two thousand companies and one hundred thirty industries our analysts cover worldwide and today we look at the overwhelming demand for high speed internet during the pandemic I got one of those like cool extender you things fall extend everything's running that's a technical term plus the strains on the healthcare supply chain at first we gotta talk about oil after all it's been happening this week so obviously it Monday was it just a disastrous day for the oil market with negative oil prices and it made everyone kind of wake up and say oh my gosh how does this actually work out front a volley oil analyst for Bloomberg intelligence I don't mind this now for you know we don't have to get into like the details of the why in the U. S. contract I just interested if your bank if your oil company if you're in P. how do you remodel your risk assessments when we can now go to negative forty or you don't it the the blacks shows models don't work for negative prices and bigger option pricing so you can't really model for this and it's kind of a unique mechanism because Cushing the prices there the the the options there are physically settled meaning you're you're gonna have to find a place to put that oil and we're running out of spaces across the US that's what Monday really told clearly if you look at and listen to some of the health experts and you could certainly paint a scenario where this is gonna be longer then maybe you know the V. shape economist would have you suggest I either the man this is not gonna be there for quite some period of time when is OPEC and the U. S. as a large producer when is are the oil producers going to really step up and cut production something more than nine point seven million barrels a day I mean when you look at a North Dakota for example the regulator has already said that nearly a third of production shut in you look at Canada again the the the markets there are working and a lot of the producers are setting in both oil sands and conventional production but the price is the biggest mechanism to do so a bailout for any prorated cuts really won't do much that that the free market is already done we need to take the data shows already coming in two days from a week to ten point because we had too many producers with overstretched balance if there weren't getting too turned on Capitol above their cost of capital and so it starts to get that check out and get the weaker producers that don't have attractive acreage for have balance sheets they're over extended we got to go out and ensuring that production and allow the more resilient four Bucks producers to to pick up the slack once the metroparks so let's get you ready for a second I don't think it's too early for that when you're a producer three just making things in two of okay if I'm looking at my production slate and I'm a U. S. A. N. P. how do I decide which wells I'm gonna shut and which ones I keep going and then how do I go about doing that and then the middle ground or maybe you don't just turn them off altogether but you just don't complete them for example the first part is if you're a producer or a refiner for that matter it's about your flexibility of placing that barrel you need to have the options to to reach as many market and get the best pricing possible for your barrel of oil gasoline or diesel so if you look for example at the box and the prices there are still very very low below five dollars a barrel because its location is disadvantaged it's far away from consumer markets it's far away from export markets so you'd rather shot dead in versus for example in the eagle Ford for per diem that is closer to the Gulf coast where we have the bulk of our refining systems and we also are exported nationally that flexibility by do a lot of opportunity because you can reach a lot more markets a lot more cheaply than a producer in the blockchain or in Canada the second part of that within the purview you have to decide which ones have your higher margin on returns they're really looking at your tier one acreage that produces more oil than natural gas because remember natural gas prices are still very weak particular in the permanent despite the the some bullishness on the long term futures of natural gas because of this drop in oil so you want to be in the core of the core and then everything else you start shutting order world that are producing fewer than three hundred barrels a day which is a very small amount for a while startled to become profitable because the cost of running those wells is too hot so you'd rather occupy your facilities with fewer wells you know instead of running and while the three hundred you rather want to a fifteen hundred barrels a day and that will give you a much lower cost per barrel than if you're running these older wells so all the wells are further away from the new consuming herbs and storage of the first ones to shutting down unfortunately they are also the ones that are much less likely to ever come back into production because the cost of restoring that are very very high relative to what they can produce so for now I want to get to that storage issue would be here batting it you know hearing about it for that last couple of weeks here how we're approaching you know that can't really store anymore oil are coming up in the next several weeks when that happens what happens then I mean that that does that will just sit on the tankers at sea waiting for the market to get back well that's already happening in India that's what happened in twenty sixteen and for example if there are Iran when we put sanctions on them on the first on and then you see the tanker rates really skyrocketed recently because there's more and more the man to use those tankers expects storage and eventually it just pushes for more shutting it again that Carol all market rebalances the price is going to keep going down and that certain indicated should pour the employees that they have to shut in wells they're really going to be struggling to put that oil anywhere in the world the chronicle post put it store it in the ground it's better than taking it out and then try to find a spot to put it alright LA a member intelligence thank you very very much coming up on the program a close up look at the medical supply chain in and around the United States you're listening to Bloomberg intelligence on Bloomberg radio providing in depth research and data on two thousand companies and.

Bloomberg Susanna Palmer Netflix
OPEC, allies agree to cut oil output by record amount

Rush Limbaugh

00:15 sec | 1 year ago

OPEC, allies agree to cut oil output by record amount

"OPEC and allies led by Russia have agreed today to cut oil output by a record amount of nine point seven million barrels a day in may and June representing around ten percent of the global supply measures to slow the spread of coronavirus have destroyed demand for fuel and driven down oil

Opec Russia
Mexican energy minister tweets that OPEC, other oil producers agree to 9.7 million-barrel-a-day cut, beginning May 1

Ben Shapiro

00:15 sec | 1 year ago

Mexican energy minister tweets that OPEC, other oil producers agree to 9.7 million-barrel-a-day cut, beginning May 1

"OPEC and allies led by Russia have agreed today to cut oil output by a record amount of nine point seven million barrels a day in may and June representing around ten percent of the global supply measures to slow the spread of coronavirus have destroyed demand for fuel and driven down oil

Opec Russia
Mexican energy minister tweets that OPEC, other oil producers agree to 9.7 million-barrel-a-day cut, beginning May 1

Fox News Sunday

00:26 sec | 1 year ago

Mexican energy minister tweets that OPEC, other oil producers agree to 9.7 million-barrel-a-day cut, beginning May 1

"Room it's a done deal the world's top oil producers pulled off an historic agreement to cut global crude output and put an end to their price war the deal emerged after marathon talks and it looks like Mexico got what it wanted it was the lone holdout on a plan that was floated earlier OPEC plus we'll cut nine point seven million barrels a day just below the initial plan of ten million Mexico will only be required to cut one hundred thousand barrels less than its pro rated

Mexico Opec
Mexican energy minister tweets that OPEC, other oil producers agree to 9.7 million-barrel-a-day cut, beginning May 1

Fox News Sunday

00:27 sec | 1 year ago

Mexican energy minister tweets that OPEC, other oil producers agree to 9.7 million-barrel-a-day cut, beginning May 1

"Room it's a done deal the world's top oil producers pulled off an historic agreement to cut global crude output and put an end to their price war the deal emerged after marathon talks and it looks like Mexico got what it wanted it was the lone holdout on a plan that was floated earlier OPEC plus we'll cut nine point seven million barrels a day just below the initial plan of ten million Mexico will only be required to cut one hundred thousand barrels less than its pro rated

Mexico Opec
The Saudi Arabia-Russia oil war, explained

Guy Benson

11:41 min | 1 year ago

The Saudi Arabia-Russia oil war, explained

"Let me begin with a very silly rudimentary question that is like a lay up for you but to a lay person like me it's it's actually confusing so I'm watching the news today about corona virus and I was watching Maria Bartiromo show earlier when I was in the green room getting ready for America's newsroom on the news channel and much of the discussion on the panel surrounded this whole fight over oil prices and and oil and how that might affect fracking and and shale producing here in the United States and I was sort of thrown for a loop a little bit because I associated the selloff on the markets recently completely with corona virus but there's this other massive story that I just haven't had the band with to really follow or process properly can you just walk us through what's happening on that side yeah sure Saudi Arabia basically lives off its oil sector if you'll all of its government payments to its citizens that those payments go don't go to its citizens and they have a problem the Saudi Arabia got really mad Russia refused to cut its oil output by half a million barrels a day so Saudi Arabia which has tremendous supply capacity it's considered quote the central bank of oil for years or decades Saudi Arabia can easily open the spigots and it did it drove down prices sparking a global price for during week demand when much of the world is in recession so the fact that Saudi plans to now increase their oil output per day above ten million barrels that's the problem we currently pumps about nine point seven million barrels a day but the thing is it has the capacity to ramp up to to put out twelve and a half million barrels a day do you see oil prices plunging by massive double digit drops and weak but here's the flip side of that the plunge in prices we could maybe see two dollars maybe a Buck fifty a gallon right as the summer driving season starts plus it helps the jet fuel costs for US airlines battered by the corona virus problem when oil prices go down like this says that the trend of it the oil patch guide to saying this is a one trillion dollar stimulus for the world economy so there's always an offset so when we saw that when there's a shake out like that when oil prices plunge like that the shale producers in the oil patch guys are kind of on the margin they borrowed a lot of money to fund their operations that jump on high interest rate they can't make money when oil plunges like that often it said they may be forty five dollars a barrel maybe more it's a break even point for it R. U. S. producers and other producers that so you know so when they boil price plunges they don't have the cash flow to pay back from from forty five which would be into what well if it goes below that I mean we're talking now I hate I feel bad for guys in all the patch but the I'm talking to traders in the pits they're talking thirty dollars a barrel of so you know so that's painful for a sector that has stopped us from tipping into recession under the Obama administration does it get any credit much credit for that but it did to protect the food going into depression thanks to the recession forgive me reception reception during the crash but it also has made us do a political force around the world right now the biggest producers around the world prices were independent we went from being dependent to independent to a net exporter which is a huge development for for the U. S. economy but Elizabeth before we turn to corona virus one of the countries that wasn't mentioned in your answer but is at play in very much in the mix with this price war that's going on in the oil market you mentioned Russia you mention of course the U. S. you mentioned Saudi Arabia how does China factor in well it's interesting China factors big because China buys a lot of its oil from Saudi it does take up a lot from Russia but truth be told it does play a lot of Iranian oil and that is saying of course the trump administration because of sanctions against Iran US crude is also a big player for China China has always been watchful of what goes on in the Persian Gulf with the tree for mood attack so you know there is that China is China's a big fourth two given demand there in that country it's it's a powerful force since since you mention just to jump and you mentioned Iran as well my wheels are now turning in my head and I'm thinking about the corona virus disaster in Iran where they were not taking it seriously they were completely dishonest and opaque about everything and now you have a significant number of the members of their sort of fake parliament who have been infected with corona virus it is a huge huge problem with the with rates of people infected very high and of course we don't know the real numbers because it's a very secretive regime you have that problem piled on top of what was already a period of significant economic turmoil and hardship where you saw demonstrators in the streets of people being killed and imprisoned now if you put on top of that a collapse in the price of oil that is the last thing that the Iranian regime probably wants right Iran also filtered into Turkey and and into India yes you're absolutely right about what's going on on the streets of Iran I mean if they did that what I I have to stress it again I mean our oil sector is the powerful the US domestic and geopolitical force so anything that can be done to support it it's good for the country so you know do I see Russia interfering here that's the rumor mill cranking that you know we understand that you know Russia's Putin has been battling it's gonna minute metal this way be the oil market market I mean that's just a rumor we don't know that for sure we do know that Russia unlike unlike a lot of these players they've got a gigantic what's called the sovereign wealth funds like you know I'm always laughing when nor of wind you know Bernie Sanders brings up the Nordic model as can even ritualism capitalism Norway has one of the biggest sovereign wealth funds in the world built by the oil it's it's massive oil and and gas sector so Russia has the defense of advantage here they kept a hundred fifty billion dollar wealth fund to offset any slump and bolster the ruble I'm not sure that Iran has that so turning to corona virus later on the program congressman Adam Kinzinger a Republican from Illinois he's gonna be here I'm curious to ask him about the appetite among house Republicans Senate Republicans people on the hill on the right side of the aisle is there an appetite there for what the president has just been talking about the last day or so we saw a bit of a better day certainly on Wall Street today than we did yesterday fueled in part by a stimulus package that might be employed to help prop up certain businesses and help people who might be displaced or quarantine for periods of time who couldn't work out what is your assessment of what the president has suggested it's nothing official yet what do you think would be effective what don't you think would be effective in is there a political will to get that sort of thing down in your view I'd not sure they have the political will I think I yeah I just we could just cross that Steven Mnuchin is now going to meet with Nancy Pelosi this is as of early earlier in the day you know so I do I just want to see the details of it I don't know if it's going to be a two percentage point payroll tax cut that the president wants and that the short term stimulus that does put a lot of money in people's hands of you know it will impede the holiday that will last until June the payroll tax cut for Willie structure collapses and wait for it until after the election right SBA loans are they going to be interest free you know I am I'm going to get on a phone call with a lot of hospital directors tomorrow I want to understand what their needs all right in the face of the corona virus outbreak so you know we already have a one mile quarantine zone around newer shell I'm here in New York City this is north of the city I just wonder if there's any talk about what the doctors and hospitals on the front lines of this need and if those needs are going to be met I know the White House is intensifying the push for coronavirus measure of what is that Democrats appetite for the Democrats would have to sign off on any payroll tax cut how do you view the state of the economy because we just saw on Friday another monster jobs report it seems like absent this epidemic this health crisis things were continuing term steam roll right along in a really positive way to what extent could this situation coronavirus grind all of that to hold or could it be you know is there an opportunity for what was an underlying strong economy to bounce back very quickly what what what's your sense of that you know I like that guy I like these questions because I think you sense of them totally geek and nerd at heart I mean I've been a key key highlights of blood that could directly right I mean you know I'm geeky and nerdy United but study all sorts of trend lines that cover corporate accounting scandals like testified before Congress about the IRS twice I get into the footnotes of it I'm just watching data I like watching data crossing I think this economy is really strong I think it's in a powerful floating right now and while it's a powerful I was surprised Wall Street was surprised to see solid two hundred fifty three thousand jobs report last Friday that says the bid you know the numbers coming in for temporary right when you know the corona virus we knew about starting in December you know in the revisions to the prior month went up I'm looking at an S. and P. five hundred that has quadrupled over eleven years I'm looking at apple doubling within about two years time Microsoft doubling with an attack around two years time I'm looking at S. and P. five hundred and the two hundred day moving average it's holding its finding support at a trend line that sort of connecting to these other bottoms we saw in October two thousand eleven and December twenty eighteenth what do I say those those around government shutdown fight so those are sort of market crack up but when you see the S. and P. holding at that level you have to say what supporting it there's not a bear market capitulation right now I don't know if we cut the bottom yesterday for going to continue as the coronavirus progresses but I do think it will probably likely get worse before it gets better but I think we're in a solid position in terms of other countries around the world to booklet so whether this out of this is the time I think for leadership this is the time not to panic not to go off in and on any speculation you read on social media it's a time for calm and leadership in I feel pretty calm and strong right now personally that we are going to get through this for sure well if you like that sort of analysis you can have an hour of it every single night on fox business network six PM eastern time it is the evening at it with the host Elizabeth McDonald who has been my guest here on the guy Benson show Elizabeth a pleasure having you on thanks so much in such a busy and tumultuous day we appreciate

Maria Bartiromo America
Americans find oil in Saudi Arabia - Mar. 3, 1938

This Day in History Class

03:44 min | 1 year ago

Americans find oil in Saudi Arabia - Mar. 3, 1938

"Today is March. Third Twenty twenty. The Day was March third. Nineteen thirty eight. A group of oil prospectors working for an American company discovered a commercially viable source of Petroleum Mayor Demaim in Saudi Arabia since then Saudi Arabia has consistently been one of the world's top oil producers. The Kingdom of Saudi Arabia was established in one thousand nine hundred eighty two when even so combined four regions into one st through conquest even so called for searches for oil a resource that had demand and would be big source of income for a country that needed a boost in its economy in nineteen thirty three. Saudi Arabia signed a contract with the Standard Oil Company of California. Also known as so cow. So cal was granted the right to prospect for oil in Saudi Arabia's eastern provinces side note. So cal is now. Chevron in September of that year American geologist arrived in Saudi Arabia to begin surveys of the land by car airplane. A couple of months later the California Arabian Standard. Oil Company was formed. Cassocks name was later changed to Arabian American Oil Company or Aramco. Geologists began surveying an area around ideological formation near the city of Demaim on the east coast of the country drilling. The first began in April of nineteen thirty. Five in terms of the second whale started in February of Nineteen thirty six soon. More wells were authorized in the area. Those wells did produce some oil but most of them eventually produced more water than oil. Demaim Oilwell number seven at first seemed like it would also be fruitless. The well reached more than three thousand feet beneath the earth. And no water or oil had been found but chief geologist Max. Steiner key thought that they would find oil in the will and he told the company to keep drilling they did and on March third nineteen thirty eight. They struck a significant amount of oil within three weeks. The well had produced over one hundred thousand barrels of oil. In the beginning the oil was sent to. Bahrain barred for export but in nineteen thirty nine. The first tanker load of oil was shipped overseas now. That castle had found oil. It continued mapping and exploring Saudi Arabia looking for more by nineteen forty nine Kazakh. Now Aramco had reached a production of five hundred thousand barrels per day by nineteen fifty. The Trans Arabian pipeline. Had Begun Operations Aramco already paid Saudi Arabia a fee and other benefits but that year. Aramco began to split its profits but the Saudi government nineteen seventy-three the Saudi government purchased twenty five percent of Aramco by the next year it increased. Its stake to sixty percent and in one thousand nine hundred eighty all of course oil rights production apparatus and facilities came under government control by this time demaim oilwell number seven alone have produced more than twenty seven million barrels. Eight years later the company became Saudi Aramco over the next few decades. The company continued to expand its operations and production fuelling Saudi Arabia's economy of course oil production in Saudi Arabia has been an issue closely tied to economics politics and the environment today. Saudi Arabia is the world's second largest crude oil

Saudi Arabia Arabian American Oil Company Standard Oil Company Saudi Government Aramco Begun Operations Aramco Twenty Twenty Demaim CAL Demaim Oilwell California Arabian Standard Chevron Chief Geologist California Bahrain Geologist Cassocks Steiner
"seven million barrels" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

04:57 min | 1 year ago

"seven million barrels" Discussed on Bloomberg Radio New York

"All the giants says it's ready to comply with the new I put agreement reached in Vienna as early as may twenty twenty I spoke to a group managing director many Gary Indiana it's a very intense engagement and it says that this petition so far of the buttons to know the content of bacon in on content on open countries great everybody's interested in a short in that market stability is achieved for the benefit of what the producers and the and the and the council countries which means that the decision was made and we did I have a decision to take for supporters of ten the court into an it wasn't so that every country and I said to conform to live with that too said that powered the buttons and then secondly to go another step for the two to get for the courts of at least five hundred thousand bonus in addition to that sort of connected for market conformity and balancing and by the middle of next the baseline for the **** is the seven numbers that we use for the twenty eighteen thirty eight okay that's a jumping off point that takes me to your compliance at within Nigeria and when do you expect to be compliant with your costs for many problem is to be in full conformity by end of October the numbers folk Toba didn't reflect that but I would become be is that what we have done since that is top of the the court process is that by end of November will have a full conformity and I did has been committed to that and by the end of November so these November numbers you will be fully comply absolutely no member number social the last number I had was one point seven million barrels is not right in terms of your production nice more than that at the end of November by the end of October at the end of October can you give us an update on the number so one one seven five zero one seven five zero am the challenge for this market is that the you you have a new lead from Saudi Arabia was the pressure was our sense of pressure at this meeting is treasure really it is there is an understanding that everybody agrees that selected to do okay let's talk about ninety year because last time you're not caught up at Dejima of field production part of elections going off line can you update me on that what we're doing with the gene that is so we what we call the test production time F. which means that we're testing it and the markets and see the response of the market to to what the production is look looks like and that will be completed by the end of the have which is our full review of the production from a dinner with that place by the end of the year and it also includes its classification as an accord a condenser so which is it what what to for that outcome of the market sensitivity and as we are cut fits into the OPEC definition of what the Knesset these okay and how do the partners for you the conversations you had with them on that you know at Evett often mystic that discord look very likely fall into the Knesset critical so that would that would be good news he calls it has been a big issue here over the past two days doing is good news that the Russians have upon the set removed from their targets I think that's always been there the position of open that condense it that well you'll see out of the open courts and I'm quota and that means any country that can establish that its production is coming from some knishes sources would actually come to city not exempt from the from the courts and of course an idea is also not an exception currently wear a production is around two point two million but as the day and then after that did you look at Cody's close to the one point eight million bodies F. which means that the difference is actually a accommodated in the form of work and that despite considered a second and said adding that it's also potential of doing some to moan because some of well with that actually produce incandescent and actually flowed into could stream and would be some walk to a select does that wells and and ultimately that commercial wouldn't would benefit an idea in the sense that you know we actually have production at the classified as good but at the security eight it has been a persistent issue in Nigeria cheating cat you can give us an update with a number of instances over the past couple of days can you give us a sense of where we are on the security spent an idea how big an issue is it for you well the the security situation obviously in relative doubts now look kitten and tia behind it in time and today you know we have significant improvement in the security situation this is because of a number of interventions that the government is doing and do a company's than opportunists are working together to make sure that we would bring down the issues of security to levels that we can we can manage NNPC quit managing director may carry speaking with me Indiana on Friday let's get a quick check on business business slash headlines with the.

giants Vienna seven million barrels ninety year two days
Saudi Aramco restored oil output to pre-attack level

Wintrust Business Lunch with Steve Bertrand

00:38 sec | 2 years ago

Saudi Aramco restored oil output to pre-attack level

"Saudi Aramco has restored full oil capacity to the level be for a tax on it spoiled facilities on September fourteenth according to the chief executive officer capacity was restored September twenty fifth and he added that the oil production was restored to its target level those attacks targeted to plans causing a spike in oil prices buyers and damage that cut in half the crude oil output of the world's top oil exporter by shutting down five point seven million barrels per day of

Saudi Aramco Chief Executive Officer Seven Million Barrels Twenty Fifth
"seven million barrels" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

03:02 min | 2 years ago

"seven million barrels" Discussed on Bloomberg Radio New York

"From flooding that paralyzed the area around Houston this week is alkaline define it as much as forty inches of rain fell in some parts of northeast Texas the high water now just starting to recede Joe Biden is calling for an investigation into whether president trump press the leader of Ukraine to open a probe into Biden and the business activities of his son by his fellow presidential hopefuls including better overwork want the house to take action there is no way to defend the lack of progress on impeachment especially after what we have just learned about this president if ever there were time doing peach and hold the president accountable is now president trump says he only had a routine conversation with Ukraine's president and said nothing inappropriate if you see that signal tonight it's not a call for help but a tribute to eighty years of Batman New York and Los Angeles among big cities around the world that are lighting up the sky in celebration I'm Jim Johnson and I'm Susanna Palmer from Bloomberg world headquarters. yes in the five hundred claim to to within points of an all time high this week that is the good news the not so good news is which stocks led the climb real estate and utility stocks otherwise known as defensive stocks were the leaders it shows investors are worried a recession could be coming closer yes and P. five hundred lost half of one percent this week General Motors transition from downed power vehicles to an all electric futurist becoming an issue in contract talks aimed at ending a six day old strike by union workers that has paralyzed the company's factories simply put if consumers ever switch to electrics then the United auto workers union is in trouble gone would be the thousands of jobs that engine and transmission plants replaced by smaller work forces at squeaky clean mostly automated factories that mix chemicals to make batteries Saudi Aramco repeated its commitment to bringing oil production back to its full capacity by the end of the month chief executive officer I mean now Sir says the company will restore five point seven million barrels per day the amount that was knocked out by recent attacks on the kingdom's oil facilities the Oregon AFL CIO is poised to launch an initiative petition signature drive to ban the use of more than two service checkout stations in grocery stores more on that from members Charlie Pellett the move is a response by organized labor to what it perceives as the threat to jobs presented by automation self service kiosks have been followed in recent years my cashier less convenience stores like Amazon go another imitators that allow shoppers to pick items off the shelves and leave without checking out with the cashier or even at a kiosk Charlie public Bloomberg radio global news twenty four hours a day on air and it took took on Twitter powered by more than twenty seven hundred journalists and analysts in more than one hundred twenty countries I'm Susanna Palmer this is Bloomberg. you're listening to Bloomberg long I'm Jim role.

Houston seven million barrels twenty four hours eighty years forty inches one percent six day
"seven million barrels" Discussed on 106.1 FM WTKK

106.1 FM WTKK

03:58 min | 2 years ago

"seven million barrels" Discussed on 106.1 FM WTKK

"They are all S. U. V. I mean they are all flex fuel vehicles which means they don't have to run on gasoline they can run on primarily ethanol and in it and we could take all the natural gas that we have and still have more and get rid of the seven million barrels a day of imported oil that we bring in every day and to fit our refineries and so it would completely take away any concern by any American any president any governor any city mayor about the price of gasoline because it has nothing to do with the rest of the world where we're completely isolated from worrying about what's going on with OPEC or the Middle East agreed but or Russia but in a way we're always going to be involved because we are the United States right so in other words if if Iran wants to disrupt the free flow of oil at market prices that would impact our friends our allies and the world economy so we can't allow them to get away with that can we know we can't but we don't have to have our consumers in this country are citizens pay a dime more for a gallon of fuel because we will be making it all domestically having said that I agree the the the global price. oil and the stability of the world relative to oil supply as long as the global economy which it has been for the last one hundred years as long as we continue to rely upon fuel like gasoline or like these all or like aviation fuel or heating oil or all the plastics that we use in our lives which are made from petrochemicals which comes from oil yes we need to be concerned about the free flow of energy through whatever channels it comes and and the the the piracy that we're seeing out of Iran I mean let's face it a rand did what they did this past weekend for maybe two or three reasons one they want to see a higher price of oil because they're dying on the vine without a high priced oil number two they want to neuter the the American sanctions on Iranian oil and if there's a scarcity of oil they believe that some countries will buy their oil take their chances with the U. S. sanctions and and and so they will basically be back of three million barrels a day instead of one million barrels a day and third I see this as a as a an opinion I have no inside information I think the Iranian people about just about enough of the current regime and there's no better way for the current regime to ensure their future then playing a national security card I think they want to be attacked I think they want a military response of some sort so they can set up their own people say you need us in charge and and make them forget about their economic distress and their joblessness and the glow quality of life that they have because their nations under attack well the smartest thing I think the U. S. and and Saudi Arabia could do is don't attack them subvert them more economic pressure the use of cyber technology well maybe maybe our we is more difficult maybe our week appeasing allies couldn't maybe jump on board and help us but you got my Cronin Merkel and and all these other people you know that was stupid enough to dump a hundred and fifty billion K.. ash in other currencies and say please pretty please don't make nuclear weapons which is never going to work quick break more with John Hoffmeister former CEO of shell oil founder citizens for affordable energy listen you got to look at the statistics on average a burglary happens once every twenty three seconds in the US you know the odd thing to me is only one in five homes have home security no maybe it's because the home security industry has made it so expensive and difficult and burdensome to do business with them I mean five year contracts no cut you got to pay it regardless whether you use it or not and you have to have a hard wired that means you have to repaint your whole house he paid a good exhaustive amount of money for installation and then on top of that they make you sign these contracts and it's just ridiculous and.

seven million barrels three million barrels twenty three seconds one million barrels one hundred years fifty billion K five year
"seven million barrels" Discussed on Newsradio 970 WFLA

Newsradio 970 WFLA

03:58 min | 2 years ago

"seven million barrels" Discussed on Newsradio 970 WFLA

"They are all S. U. V. I mean they are all flex fuel vehicles which means they don't have to run on gasoline they can run on primarily ethanol and in it and we could take all the natural gas that we have and still have more and get rid of the seven million barrels a day of imported oil that we bring in every day add to fit our refineries and so it would completely take away any concern by any American any president any governor any city mayor about the price of gasoline because it has nothing to do with the rest of the world where we're completely isolated from worrying about what's going on with OPEC or the Middle East agreed but or Russia but in a way we're always going to be involved because we are the United States right so in other words if if Iran wants to disrupt the free flow of oil at market prices that would impact our friends our allies and the world economy so we can't allow them to get away with that can wait now we can't but we don't have to have our consumers in this country are set up and pay a dime more for a gallon of fuel because we will be making it all domestically having said that I agree the the the global price. oil and the stability of the world relative to oil supply as long as the global economy which it has been for the last one hundred years as long as we continue to rely upon fuel like gasoline or like these all or like aviation fuel or heating oil or all the plastics that we use in our lives which are made from petrochemicals which comes from oil yes we need to be concerned about the free flow of energy through whatever channels that comes and and the the the piracy that we're seeing out of Iran I mean let's face it Iran did what they did this past weekend for maybe two or three reasons one they want to see a higher price of oil because they're dying on the vine without a high priced oil number two they want to neuter the the American sanctions on Iranian oil and if there's a scarcity of oil they believe that some countries will bar there oil take their chances with the U. S. sanctions and and and so they will basically be back to three million barrels a day instead of one million barrels a day and third I say this as a as a an opinion I have no inside information I think the Iranian people about just about enough of the current regime and there's no better way for the current regime to ensure their future then playing a national security card I think they want to be attacked I think they want a military response of some sort so they can set up their own people say you need us in charge and and make them forget about their economic distress and their joblessness and the glow quality of life that they have because their nations under attack well the smartest thing I think the U. S. and as Saudi Arabia could do is don't attack them sub vert them more economic pressure the use of cyber technology well maybe maybe our we is more difficult maybe our week appeasing allies couldn't maybe jump on board and help us but you got my Cronin Merkel and and all these other people you know that was stupid enough to dump a hundred and fifty billion K.. in other currencies and say please pretty please don't make nuclear weapons which is never going to work quick break more with John Hoffmeister former CEO of shell oil founder citizens for affordable energy listen you got to look at the statistics on average a burglary happens once every twenty three seconds in the US you know the odd thing to me is only one in five homes have home security no maybe it's because the home security industry has made it so expensive and difficult and burdensome to do business with them I mean five year contracts no cut you got to pay it regardless whether you use it or not and you have to have a hard wired let me jump to retain your whole house you pay you get a good exhaustive amount of money for installation and then on top of that they make you sign these contracts and it's just ridiculous and.

seven million barrels three million barrels twenty three seconds one million barrels one hundred years fifty billion K five year
"seven million barrels" Discussed on News-Talk 1400 The Patriot

News-Talk 1400 The Patriot

03:57 min | 2 years ago

"seven million barrels" Discussed on News-Talk 1400 The Patriot

"They are all S. U. V. I mean they are all flex fuel vehicles which means they don't have to run on gasoline they can run on primarily ethanol and in it and we could take all the natural gas that we have and still have more and get rid of the seven million barrels a day of imported oil that we bring in every day and to put our refineries and so it would completely take away any concern by any American any president any governor any city mayor about the price of gasoline because it has nothing to do with the rest of the world where we're completely isolated from worrying about what's going on with OPEC or the Middle East agreed but or Russia but in a way we're always going to be involved because we are the United States right so in other words if if Iran wants to disrupt the free flow of oil at market prices that would impact our friends our allies and the world economy so we can't allow them to get away with that can we know we can't but we don't have to have our consumers in this country are citizens pay a dime more for a gallon of fuel because we will be making it all domestically having said that I agree the the the global price. oil and the stability of the world relative to oil supply as long as the global economy which it has been for the last one hundred years as long as we continue to rely upon fuel like gasoline or like these all or like aviation fuel or heating oil or all the plastics that we use in our lives which are made from petrochemicals which comes from oil yes we need to be concerned about the free flow of energy through whatever channels it comes and and the the the piracy that we're seeing out of Iran I mean let's face it a rand did what they did this past weekend for maybe two or three reasons one they want to see a higher price of oil because they're dying on the vine without a high priced oil number two they want to neuter the the American sanctions on Iranian oil and if there's a scarcity of oil they believe that some countries will buy their oil take their chances with the U. S. sanctions and and and so they will basically be back to three million barrels a day instead of one million barrels a day and third I say this as a as a an opinion I have no inside information I think the Iranian people of that just about enough of the current regime and there's no better way for the current regime to ensure their future then playing a national security card I think they want to be attacked I think they want a military response of some sort so they can say that our own people so you need us in charge and and make them forget about their economic distress and their joblessness and the glow quality of life that they have because their nations under attack well the smartest thing I think U. S. and and Saudi Arabia could do is don't attack them subvert them more economic pressure the use of cyber technology well maybe maybe our we is more difficult maybe our week appeasing allies couldn't maybe jump on board and help us but you got my Cronin Merkel and then all these other people you know that was stupid enough to dump a hundred and fifty billion K.. ash in other currencies and say please pretty please don't make nuclear weapons which is never going to work quick break more with John Hoffmeister former CEO of shell oil founder citizens for affordable energy listen you got to look at the statistics on average a burglary happens once every twenty three seconds in the US you know the odd thing to me is only one in five homes have home security no maybe it's because the home security industry has made it so expensive and difficult and burdensome to do business with them I mean five year contracts no cut you got to pay it regardless whether you use it or not and you have to have a hard wired that means you have to repaint your whole house in pagan exhaustive amount of money for installation and then on top of that they make you sign these contracts and it's just ridiculous and.

seven million barrels three million barrels twenty three seconds one million barrels one hundred years fifty billion K five year
"seven million barrels" Discussed on KDWN 720AM

KDWN 720AM

04:02 min | 2 years ago

"seven million barrels" Discussed on KDWN 720AM

"They are all S. U. V. I mean they are all flex fuel vehicles which means they don't have to run on gasoline they can run on primarily ethanol and in it and we could take all the natural gas that we have and still have more and get rid of the seven million barrels a day of imported oil that we bring in every day and to put our refineries and so it would completely take away any concern by any American any president any governor any city mayor about the price of gasoline because it has nothing to do with the rest of the world where we're completely isolated from worrying about what's going on with mopac or the Middle East agreed or Russia but in a way we're always going to be involved because we are the United States right so in other words if if Iran wants to disrupt the free flow of oil at market prices that would impact our friends our allies and the world economy so we can't allow them to get away with that can we know we can't but we don't have to have our consumers in this country are citizens pay a dime more for a gallon of fuel because we will be making it all domestically having said that I agree the the the global price. the oil and the stability of the world relative to oil supply as long as the global economy which it has been for the last one hundred years as long as we continue to rely upon fuel like gasoline or like these or like aviation fuel or heating oil or all the plastics that we use in our lives which are made from petrochemicals which comes from oil yes we need to be concerned about the free flow of energy through whatever channels that comes and and the the the piracy that we're seeing out of Iran I mean let's face it a rand did what they did this past weekend for maybe two or three reasons one they want to see a higher price of oil because they're dying on the vine without a high priced oil number two they want to neuter the the American sanctions on Iranian oil and if there's a scarcity of oil they believe that some countries will buy their oil take their chances with the U. S. sanctions and and and so they will basically be back of three million barrels a day instead of one million barrels a day and third I say this as a as a an opinion I have no inside information I think the Iranian people had just about enough of the current regime and there's no better way for the current regime to ensure their future then playing a national security card I think they want to be attacked I think they want a military response of some sort so they can say to their own people say you need us in charge and and make them forget about their economic distress and their joblessness and the glow quality of life that they have because their nations under attack well the smartest thing I think the U. S. and and Saudi Arabia could do is don't attack them subvert them more economic pressure the use of cyber technology well maybe maybe our we is more difficult maybe our week appeasing allies couldn't maybe jump on board and help us but you got my Cronin Merkel and and all these other people you know that was stupid enough to dump a hundred and fifty billion K.. ash and other currencies and say please pretty please don't make nuclear weapons which is never going to work quick break more with John Hoffmeister former CEO of shell oil founder citizens for affordable energy listen you got to look at the statistics on average a burglary happens once every twenty three seconds in the US you know the odd thing to me is only one in five homes have home security no maybe it's because the home security industry has made it so expensive and difficult and burdensome to do business with them I mean five year contracts no cut you got to pay it regardless whether you use it or not and you have to have a hard wired let me jump to retain your whole house he paid a good exhaustive amount of money for installation and then on top of that they make you sign these contracts and it's just ridiculous and fifty Bucks a month it's insane well the latest greatest best technology yeah and it's.

seven million barrels three million barrels twenty three seconds one million barrels one hundred years fifty billion K five year
"seven million barrels" Discussed on KCRW

KCRW

06:17 min | 2 years ago

"seven million barrels" Discussed on KCRW

"On the south bound six oh five meanwhile in east LA self five before Broadway a wreck in the right lane there north five that Figaro getting reports of a collision as well. to be selling today after the low clouds clear looking for highs mostly in the seventies and eighties it's five oh seven. this is morning edition from NPR news good morning I'm David drain in Culver city California and I'm Noah will king in Washington DC Saudi Arabia has been planning to sell shares in its state owned oil company Aramco Aramco is reportedly the most profitable company in the world so there's been a lot of excitement around this earlier this month bankers got together at the Ritz Carlton and do bite to work on it Aram close initial public offering our IPO and then over the weekend Aramco oil facilities were attacked and that hit oil production hard so what is all of this mean for the company and for its IPO Ellen walled wrote the book Saudi ink about Aramco in the history of the Saudi energy industry she's in our New York studios good morning Ellen the morning so Ramco said to be the most profitable company in the world tell us how important is this company to Saudi Arabia as a country this company is really the life blood of Saudi Arabia it runs almost its entire energy industry and is responsible for over nine million barrels a day of oil production and can produce at least twelve million barrels a day if needed and that's really more spare capacity than any other oil company or country in the entire world responsible to for a lot of Saudis very famous wealth via exactly and it's an incredibly profitable company because it's able to make and produce oil at such low cost it at a lower cost than any other company in the world to it makes more off of every barrel of oil than any other company in the entire world how big a player is Aramco in the international oil market because we saw prices surging after this attack yeah one of the Saudi Arabia right now is the third largest oil producer but it can produce more oil than any other country so right now Russia and the United States produce more that Saudi Arabia has the ability to produce the most to really is the most important player in the market and this attack really took out took out of. five point seven million barrels per day of its oil production which is a significant amount total global oil production is about a hundred million barrels a day so this is a significant part of that oil production why we saw that spike in prices let me ask you about the IPO because taking a company public is not a small deal it involves lots of bankers poking around into records a lot of transparency which Saudi Arabia's not necessarily famous for what is Saudi Arabia want to take Aramco public well this is the big question and it does seem that Saudi rubies gold in taking Aramco public is to sell off part of the company and then to use that money for its sovereign wealth fund to make investments in different types of industries that aren't necessarily energy related hi tech companies for example it the entertainment sector is another one and that in doing so this will help diversify Saudi Arabia's economy also the diversify the sources of income for the Saudi government and hopefully they intend to create jobs for Saudi people something that crown prince Mohammed bin someone has really been pushing to make this country more than a one commodity op player what does this attack me in for the initial public offering our investors nervous well this is a big question that everyone's asking and investors are absolutely nervous the attack shows or could show depending on how a ramp response to it the incredible resiliency of a company this is a very severe attack but a ram hello it is able to recover fairly quickly if it shows that it can't recover quickly that could be a good sign to investors but on the other hand the fact that this attack was able to take out so much of production for at least a a pretty good period of time that affects the Saudi economy it also raises a lot of questions whether this IPO is really a good idea in particular the. we that the Saudis want to do this they wanna put do this IPO at least first on the Saudi economy and Saudi stock exchange an exchange is very small and so if an attack like this were to happen with shares a rental listed on the Saudi stock exchange could very very detrimental effect on the Saudi economy of potentially even crashing the exchange and so the attack really provides an opportunity I would say for the Saudis perhaps to rethink the way that they're conducting this IPO and we have heard signs that they are considering it least delaying the IPO that's really interesting at let me ask about motive here who the rebels in Yemen have claimed responsibility for the attack the United States and Saudi Arabia are both looking at Iran. is it possible that someone attacked around Aramco because they wanted to get in the way of the initial public offering which of course has been discussed for years but these real concrete steps of only been taken last few weeks well that would not be surprising there are also other reasons to do this at this particular point in time related more to what's going on with Iran and Iran's oil industry so I wouldn't say it for sure was in reaction to this IPO but that had to have been a calculation those sanctions that have prevented Iran from from selling oil itself last question for you just quickly what happens now to Iraq Aramco well what happens now is that a ramp who is working to restore production from its damage facilities they have the ability to restore quite a bit of it and and so we have to wait and see exactly how fast they get production back online Ellen wild is author of the book Saudi ink Ellen thanks so much for coming and we really appreciate it thank you. earlier this summer NASA announced that it would fund an ambitious new mission to send a quad copter style drone to a moon of Saturn is Joan.

east LA hundred million barrels twelve million barrels seven million barrels nine million barrels
Drone Attack Boils Oil Price to Scorch Stock Market Monday

Kevin McCullough Radio

04:09 min | 2 years ago

Drone Attack Boils Oil Price to Scorch Stock Market Monday

"So when the when the. on strike on the oil fields happened or the refineries happened on Saturday the the immediately the economic you know authorities in the country started talking about how fast gasoline was going to go up in fact I was doing my Saturday night show and I made mention that you know maybe by the end of the weekend you already see a little bit of spike in the price it's my view engineer merely goes that's it fill it up on the way home anyway David Fisher joins us it did take center stage today and it is all of the markets are reacting to more than one stock market around the world having some reaction to this David Fisher welcome back good to talk to you we don't often talk about commodities outside of gold and silver but oil is a significant one what did all of this do to the to the price of not just that commodity but how does it impact the a larger economic picture what we call a black gold for reason it is a center of all economies of the world any of the strike did hit the jugular vein of Saudi Arabia which to put into perspective Kevin five point seven million barrels a day in this is affected of the five powers were destabilize was gonna literally take months to fix to Bernard perspective the largest oil refinery in United States puts out six hundred thousand barrels a day so this is ten times larger than our largest oil refinery twenty five cents a gallon increase is what they're expecting in gasoline prices at the pump we saw this rattle the market the Dow and almost the indexes are off about half a point today the European markets in the Asian markets totally got clobbered golden made a big round of one percent this is really disturbing a lot of uncertainty and you know I think we're gonna see effect the markets more yeah now I was speaking with general Keane earlier in the. in the hour and we have a pretty good idea that Iran is behind this but and I think is somewhat obvious as to why they would go after the oil the capacity because it's an easy way to cripple this is to the Saudis but give us some significance of what we're talking about here. all who enter trees secretary Rick Perry expects a coalition effort to be put forth president trump deal came treated says he's locked and loaded grading responded were carried out this mission and clearly the Saudis now are saying that there is proof that Iranian weapons were involved so that's the confirmation in the early reporting the food these are behind this they claim this and they said there are running it is going to be more strikes or not done yet but they have a strong tie with Iran in so you want to follow the rabbit trail it it does lead unfortunately back to Iran so we're gonna see some repercussion on our part and hopefully a coalition according to Rick Perry and also other other people in the no are saying this is going to definitely be some sort or a recourse on our part yeah no I I think that I think that Iran has to get boxed on this on the on the tip of the nose at minimum because you cannot you cannot come in and mess with the world five percent of the world's energy supplies and and do so without punishment now the general brought of something very interesting and I believe that he's on to something I think that it would be wise for us to win the next two weeks met take advantage of the U. N. session that'll be in effect next week demand before that body that around be held responsible and allow the Saudis to kind of take the lead I mean we're we're certainly capable of advising and kind of shaping the strikes we can help them with that certainly we can provide logistics but the I think the last that we have to do personally the better off America is the least in the short run now if this turns into a broader conflict you know that there's going to have to be some other

Six Hundred Thousand Barrels Seven Million Barrels Five Percent One Percent Two Weeks
"seven million barrels" Discussed on KQED Radio

KQED Radio

08:49 min | 2 years ago

"seven million barrels" Discussed on KQED Radio

"There's no more powerful reminder of what's at stake Biden recognize the for young black girls murdered when the church was bombed on September fifteenth nineteen sixty three he said the event was a defining moment for the civil rights movement and for the nation as a whole Biden also reference recent acts of violence and said the nation continues to battle the domestic terrorism of white supremacy for NPR news I'm Mary Scott Hodgen in Birmingham the maker of oxycontin has filed for bankruptcy protection as part of a move to settle some twenty six hundred lawsuits over its role in the opioid crisis produced farmers board approved the bankruptcy plan yesterday under the company's owners members of the Sackler family are expected to give up ownership along with three billion dollars in private wealth but some state attorneys general say they plan to sue the Sackler's directly York city's medical examiner working to determine what the car's front man Rick cassock died of forty sale Canseco's mounted yesterday afternoon in his apartment in Manhattan by police responding to a nine one one call police say there were no signs of foul play on trial Snyder NPR news. support for NPR comes from NPR stations other contributors include Charles Schwab Schwab believes a modern approach to wealth management starts with asking questions Charles Schwab own your tomorrow learn more at Schwab dot com and Americans for the arts. it's morning edition from NPR news I'm no well king in Washington DC and I'm David green in Culver city California president trump says the United States is quote locked and loaded what he means by that is one of the many questions after an attack over the weekend on Saudi Arabia's oil reserves drones struck a major Saudi oil facility knocking out more than half the Saudi oil supply and sending global oil prices surging Yemeni rebels claimed responsibility for this but the trump administration is blaming Iran and the president as we mentioned is threatening some kind of action ambassador Dennis Ross is a veteran diplomat who served both presidents George H. W. bush and Bill Clinton and joins us this morning ambassador welcome to the program nine three would you thank you want to start with the world's oil supplies a minute as I mentioned prices are are spiking what what is the impact here. well the impact is huge because of the one of the facilities that was hit. is responsible for about five point seven million barrels a day in terms of the oil processing that it does that sadly production at its height is was a little bit over eleven million barrels a day so five point seven is more than half and right now they're producing about nine point eight million barrels a day so you're talking about sixty percent of what the Saudis provide suddenly being put at risk and for an extended period of time in aspen so I've seen up to six months. well as for who is responsible for this president trump is as I said blaming Iran what evidence is there for that. I think the main evidence aside from the fact that the Hutus are are claiming responsibility and the drones that they have come entirely from the Iranians I think the main evidence is the rants of adopt a policy of what I call maximum pressure on America's friends and interests in the region in response to what the trump administration's postures been of maxim pressure on them number one number two doing this for a long time I've said it if they can't export their oil others are going to have a hard time exporting oil and even though they don't claim directly they do things like this may deny it the fact is if you look at their behavior since may we've seen an upsurge in attacks by the Hootie's into Saudi Arabia this is quite remarkable in fact their drugs did it because this is close to five hundred miles away from them and but also we saw the attacks on the oil tankers again that they denied but it's pretty clear that the live in mines that were attached to the holes with these tankers the only ones have the capability to do this is the Iranian so there's a pattern of Iranian behavior at least through proxies where they are they have been attacking America's friends interests in the region at this point they found there's been little price that's been imposed on them other than the ongoing economic sanctions at the United States has in fact impose well then do you think it is important for president trump to do what he's doing is sending a message such as at the United States is locked and loaded in terms of you know if if not some sort of military messages of course we we we're not again suggests that that's in the planning is we have no idea but at least threatening something to you know to try and change runs pattern of behavior well I think there have to be threats that are believable and you know the fact is that you go back and John Bolton said that if they were the kinds of threats that we've seen to America's friends and interests in the region when he announced we're sending a carriage house was to the region. back in may it was the day after that that that salad began and I'm sorry that the Iranians began is in direct attacks on the tankers this is the national security adviser who just left which would say right he said relentless force would be use obviously it wasn't so the point here is don't make military threat so you're not going to carry out but also if you gonna make military threat you ought to think about what the second third and fourth order consequences are going to be what happens after you do it how did they respond where you had it I think the key thing right now is to expose the running to get others to expose the ring is that what the reins and noticed that the threats they don't consider to be credible right now might well become credible and they don't want the reason they do things through indirection and at night is because they don't want direct conflict right now the point is that we have lost our deterrence towards them one way to start getting it is to basically go to the Europeans say if nothing is done right now at least your political isolation if you don't threaten to also join the sanctions the fact of the matter is going to be that war whether we like it or not as will become inevitable the president trump have a kind of relationship with European leaders right now where he could do that go to them and say I I need your help here let's let's come up with a coordinated strategy he does not but the their fear that this could actually set in motion turn of events that will produce a war could be enough to motivate them to adopt more of a position or at least threaten the remnants of good will if in fact nothing is done. and that's our Dennis Ross is now with the Washington institute for Near East policy hills as a new book out it's be strong and of good courage investor always appreciate your time thank you thank you very much all right ever since the trade war between the US and China started last year economists have been warning that it is going to hit Americans in the wallet we're gonna end up paying higher prices for some products so did that end up happening since August two thousand eighteen and peers only to sell your has been tracking prices at a single Walmart in the state of Georgia and she has this story plus all right let's go right. this was about a year ago producer Charlotte North worthy and I walked every child.

Biden eleven million barrels eight million barrels seven million barrels three billion dollars sixty percent six months
Oil surges as Saudi attack focuses market on supply risks

Bloomberg Daybreak: Asia

01:33 min | 2 years ago

Oil surges as Saudi attack focuses market on supply risks

"Well Saudi officials are scrambling to restore a third of output by day's end there Monday and some analysts say they could accomplish even more the Bloomberg the Mideast executive editor Riyadh Ahmad says even as the damage gets repaired investors will remain skittish now we're back to the days when whatever happened in the Middle East would have a major impact on prices so now the oil markets are going to have to include that calculation that things could escalate very very rapidly in the Middle East and would could damage you know a major part of the global oil output and Francis lu in chief executive officer of geo securities told me the dried attack make Saudi Arabia look foldable. question is can sell the Arabia stop food tags because how can you specify one hundred drones attacking you. Saudi Arabia does have some oil ready to ship and can draw on that this week there's also extra U. S. supply via president trump authorizing the release of the U. S. strategic reserve even so Steven shore president of the shore group an editor of the shark report says don't panic but the risks are out there there is no immediate danger of a loss of supply at this point the real danger at this point of course is a potential response an escalation to these events. so far looks like about five point seven million barrels or about five percent of the global market would be off line because of

Saudi Arabia Middle East Francis Lu Arabia Executive Editor President Trump Chief Executive Officer Riyadh Ahmad Bloomberg Geo Securities Mideast Editor Seven Million Barrels Five Percent
Attack on Saudi oil sites raises risks amid US-Iran tension

Power Trading Radio

00:40 sec | 2 years ago

Attack on Saudi oil sites raises risks amid US-Iran tension

"Drones attack in Saudi oil refineries now to major plants are crippled mark stone with our partners to sky news reports from Jerusalem the attack could have an impact on global oil prices the Saudi oil minister has now confirmed reports that the loss at all for as it was consequence of this attack it is at five point seven million barrels a day which is about hall of Saudi Arabia's production a normal production and White House advisor killing and Conway confirm today the Anders apartment is prepared to deploy resources from the strategic oil reserves to offset any disruptions to oil markets Yemen's who the rebels took credit for

Jerusalem Saudi Arabia Advisor Conway Yemen White House Anders Seven Million Barrels
"seven million barrels" Discussed on WTVN

WTVN

01:33 min | 2 years ago

"seven million barrels" Discussed on WTVN

"Classroom from day one prospered state university one university a world of experiences. traffic and weather for Columbus. ten WTVN. from the U. S. that it was behind a massive drone attack on to Saudi oil facilities mark stone with Sky News as more the impact of the strike could have won world oil supply Saudi oil minister has now confirmed reports that the loss at all for as risk consequence of this attack it is at five point seven million barrels a day which is about Hoff of Saudi Arabia's production a normal production day at Saudi Arabia accounts for about ten percent of global oil production which means that it's down five percent as a consequence of these attacks a four year contract between GM and the United auto workers expired a few hours ago increasing the risk of a possible strike union members working today been told they should show up for their shift tropical storm Umberto strengthening into a hurricane it seems to be traveling away from the Bahamas though parts of which are still devastated from Dorian two weeks ago Jerry Preston ABC news. when when it's your emergency. I have no idea what's going on. medical attention. the traffic in and whether. nine one one what you need is the four one one it'll sound like. when you need the four one.

Saudi Arabia Sky News Hoff Bahamas GM Jerry Preston Dorian Columbus. WTVN. seven million barrels five percent ten percent four year two weeks
"seven million barrels" Discussed on KQED Radio

KQED Radio

04:35 min | 2 years ago

"seven million barrels" Discussed on KQED Radio

"The internet first news live from NPR news in Washington I'm Laxmi saying president trump is confirming for the first time that he's considering a payroll tax cut to bolster the U. S. economy at a time when markets are bracing for the possibility of a recession while hosting the leader of remaining at the White House today trump told reporters that he still thinks the country is very far from a recession many economists have traced concerns about a slow down to the U. S. is escalating trade war with China today trump was unapologetic for going after Beijing which he says has gotten away with too much for too long we have to solve the problem with China because they're taking out five hundred billion dollars a year plus and that doesn't include intellectual property theft and other things and also national security cell I am doing this whether it's good or bad for your your statement about will we fall into recession for two months okay one of the Chinese companies at the center of the battle over trade and technology is walk away American officials accuse the Chinese tech giant of stealing technology in being a spy agent for Beijing claims well wait a nice the trump administration is imposing a ban on doing business with walkway but this week at the late that move for ninety days to mitigate disruptions to existing American consumers a thirty five year old man is in federal custody accused of threatening in his words to kill Hispanics NPR's run Lucas reports on the suspects initial court appearance in the state of Washington today the suspect has been identified as Eric lane of Clarksburg Maryland according to court papers Lynn allegedly made a string of threats of this year via Facebook the killing Hispanic resident of South Florida and the individual's family and the Facebook messages excerpts of which were included in the criminal complaint then expressed his admiration and support for Adolf Hitler he also declared his own desire to kill all Hispanics and other ethnic groups in Florida and elsewhere Lynn was arrested in Seattle last week he made his initial appearance in federal court there on Monday his arrest comes as public concern grows over white nationalism in the threat of domestic terrorism in the US following a string of recent shootings including in el Paso Texas Ryan Lucas NPR news Washington secretary of state Mike Pompeii says the U. S. has removed nearly two point seven million barrels of Iranian oil from global markets daily as a result of the administration's decision to reinstate sanctions on all purchases of Iran's crude he addressed the U. N. security council a short time ago the United States declared our intention to bring already nor purchases zero in April the Ayatollah has gone all in on a campaign of extortion diplomacy the U. S. reimpose sanctions after withdrawing from the twenty fifteen international anti nuclear accord with Iran at last check on Wall Street the Dow was down one hundred seventy three points before the close down more than half a percent at twenty five thousand nine hundred sixty two this is NPR news from KQED news I need to Kim the judge in Oakland go ship warehouse fire trial is considering holding at least two jurors in contempt yesterday judge Trina Thompson dismissed three jurors replace them with alternates and ordered the jury to restart deliberations this morning Thompson said two of the jurors may have committed misconduct but did not elaborate the jury is deliberating in the trial of Derek all men and Max Harris each charge with thirty six counts of involuntary manslaughter prosecutors say the two men illegally converted the warehouse into an unsafe living space their lawyers say the building was safe and that the fire was started as an act of arson after a long legal battle the bay area's two biggest Broadway theater producers say they've made peace thank you with these Khloe document has more the onus of SHN in the car and announced what they're calling an amicable settlement during to an end litigation involving three San Francisco theaters the car in the off I am in the Golden Gate the settlement comes nearly two months after the Supreme Court in Delaware wet both companies are incorporated rolled the card had violated the terms of its non compete agreements with SHN under the terms of the new settlements current owner Carol Shorenstein Hayes has relinquished her financial stake in the Golden Gate and fame faces on both policies may now book their respective venues without restriction this applies to the upcoming production of Harry potter and the cuts to child scheduled to open up the car.

Washington NPR two months five hundred billion dollars seven million barrels thirty five year ninety days
"seven million barrels" Discussed on KCRW

KCRW

02:56 min | 2 years ago

"seven million barrels" Discussed on KCRW

"From NPR news in Washington I'm Laxmi saying president trump is confirming for the first time that he's considering a payroll tax cut to bolster the U. S. economy at a time when markets are bracing for the possibility of a recession while hosting the leader of remaining at the White House today trump told reporters that he still thinks the country is very far from a recession many economists have traced concerns about a slowdown to the U. S. is escalating trade war with China today trump was unapologetic for going after Beijing which he says has gotten away with too much for too long we have to solve the problem with China because they're taking out five hundred billion dollars a year plus and that doesn't include intellectual property theft and other things and also national security cell I am doing this whether it's good or bad for your your statement about will we fall into recession for two months okay one of the Chinese companies at the center of the battle over trade and technology as well way American officials accuse the Chinese tech giant of stealing technology in being a spy agent for Beijing claims while way to nice the trump administration is imposing a ban on doing business with walkway but this week at the late that move for ninety days to mitigate disruptions to existing American consumers a thirty five year old man is in federal custody accused of threatening in his words to kill Hispanics NPR's Ryan Lucas reports on the suspects initial court appearance in the state of Washington today the suspect has been identified as Eric lane of Clarksburg Maryland according to court papers Lynn allegedly made a string of threats of this year via Facebook the killing Hispanic resident of South Florida and the individual's family and the Facebook messages excerpts of which were included in the criminal complaint then expressed his admiration and support for Adolf Hitler he also declared his own desire to kill all Hispanics and other ethnic groups in Florida and elsewhere Lynn was arrested in Seattle last week he made his initial appearance in federal court there on Monday his arrest comes as public concern grows over white nationalism in the threat of domestic terrorism in the US following a string of recent shootings including in el Paso Texas Ryan Lucas NPR news Washington secretary of state Mike Pompeii says the U. S. has removed nearly two point seven million barrels of Iranian oil from global markets daily as a result of the administration's decision to reinstate sanctions on all purchases of Iran's crude he addressed the U. N. security council a short time ago the United States declared their intention to bring already nor purchases is here in April the Ayatollah has gone all in on a campaign of extortion diplomacy the U. S. reimpose sanctions after withdrawing from the twenty fifteen international anti nuclear accord with Iran at last check on Wall Street the Dow was down one hundred seventy three points before the close down more than half a percent at twenty five thousand nine hundred sixty two.

Washington president NPR five hundred billion dollars seven million barrels thirty five year ninety days two months
"seven million barrels" Discussed on Biz Talk Radio

Biz Talk Radio

02:21 min | 2 years ago

"seven million barrels" Discussed on Biz Talk Radio

"Now Craig Haggar when it go through them. We're going to get your phone. So now would be the time to cure your question up, and we're going to stay with phones. And if you do it up right now, you'll be the first question, we take yours, Craig Haggar. This is Craig Hoggart with your financial issues update. The corn market seems to be experiencing tug of war between traders who are concerned that wetness in the US because planting delays and those who point to the large grain stocks yesterday, the traders who point to ample supply one the day aided by week this bean market the weekly ethanol production report, wasn't courage as it showed an increase production of fourteen thousand barrels per day over last week's production numbers. It was also good to see ethanol inventories. Dropped by half a million barrels to twenty two point seven million barrels as their record this the overnight. Spot corn futures are trading unchanged. The soybean market traded lower again yesterday on increasing South American crop sizes and trade war developments. There have been reports that a trade deal is coming soon. But we've heard that before President Trump continues to say that the deal with China's moving along well, but it's going to take something more concrete to get the. Trade excited at this point in your overnights rate spot swimming, futures trading couple cents higher the wheat Margaret really kinda dead cat bounce yesterday. The most was largely short-covering in bargain pricing. The we'd markets are still pressured by large worlds dogs in the US winter wheat crop conditions reporting. The overnight trade has you cog or two and a half cents lower. Kansas City is trading penny. Lord in Minneapolis trading. Two cents higher. Cotton futures recorded a second consecutive higher close with may futures up seventeen points to settle at seventy eight eleven in the overnight trade were down eight points record this lifestyle futures gave up ground on Wednesday, June live Kenilworth, seven and a half cents lower. We'll may feeder cattle closed down sixty cents June. Lean hogs suffered a setback because they were down a dollar classroom milk futures at a pretty solid day of the June futures up fifteen points they settled at fifteen ninety five and the cash markets choice v box. Axes were seventy one cents higher at two thirty two. Seventy six selects were ninety nine cents lower settling to twenty sixteen in hog the port carcass values.

Craig Haggar US Craig Hoggart President Trump Minneapolis China Kansas City fourteen thousand barrels seven million barrels million barrels milk
"seven million barrels" Discussed on Biz Talk Radio

Biz Talk Radio

05:05 min | 2 years ago

"seven million barrels" Discussed on Biz Talk Radio

"Did you get the EIA numbers in you? Gotta dump them allowing I do. Yes. I have my here. What are we got? So we have the sorry. I'm pulling up commercial crude oil inventories. They increased by seven million barrels. That's good. Oh, yeah. And then we have the gasoline inventories. Going down by seven point seven million barrels, and we have distillate fuel inventories going down by this point one to one hundred thousand what was the gasoline down. What I was decreased by seven point seven million barrels. Michael. And it's still distillers what is decreased by one hundred thousand not yet not too much where seven million increase in crude oil, though, I mean, that's I you probably don't remember what last week was. But I know it was an increase last week. So we're moving up. And. Okay. Well, thanks, the and that's good. So seven million. That's great. The problem is kind of offset by the dancing and gasoline inventories. But again, this is typical this time of year because of the switch over. So the the good news is we've got plenty of crude oil right now in in. You know in inventory so to speak. To be able to get refineries running a p capacity as which over from summer summer. Get our winner gas summer gas happens. So hopefully, we'll get that crank out and get that moving. We start that. I'm hoping you know, certainly by may first we're starting to see some pretty decent inventories. So I can't honestly say this is going to do a whole lot to stabilize gasoline prices at the pump. Unfortunately, I think even though the inventory numbers. I mean, it's good from global growth standpoint. Because there's a lot of concern about global supplies, and this is going to be very good. It's taking a little bit of pressure off of global supplies. And that's good news. We need to do that. We want to see that happen particularly in the your zone and here in America's. Well, so we are seeing that. And it's a good number considering that we haven't fully appreciated the extra nineteen rain. Things that have come online. Now, they're not all producing crude oil some of those rigs are not gas. But nonetheless, we haven't fully felt that affect yet, which we will start to feel a little bit more next week by the end of this month will feel that affect and so we should I'm hoping I was hoping I can't say that I have a lot of hope about it right now. But I was hoping that we could try to avoid that we could avoid gasoline prices hitting three dollars a gallon, so national average three dollars. So that's what I was hoping for it. It's not looking like. We're still a good. I don't know where we are on that. But we're good twenty five cents a way from that. I would think still so maybe we will maybe will. Void it as things continue to get cranked up. So that's where we are. Hopefully that will be the case this is, but all in all it's a pretty good number, and I would consider base from based on my perspective. I would consider. A good number. I would consider good news. So we'll see. All right. Let me go back to phones. Eight four four seven zero seven fifty five thirty three eight four four seven or seven fifty five thirty three just just from a CEO of banks big banks. So we're already hearing them talk. You know, the things that we would expect CEO pay. You know, is is too much. Are you aware of what's going on at your Bank? These kinds of questions. Just drive me nuts. New York democratic Representative talking about banks links to gun manufacturers and mass shooting Bank Ling. To that. So as the bankers faults that they are in the business of lending money to corporate America. And that anybody that makes banks here's this guns. They should be lending too. So I wonder if this same group of people would would talk the banks about cutting off financing to the murder of babies, you think they would do that. I know I I'm not taking. I'm not listen, I want to take anything away from mass shootings. That's got nothing to do with guns. It's got to do with mental health issue. Little to do with gun. But the murder..

America murder EIA CEO Michael Bank Ling New York Representative seven million barrels three dollars
Oil Prices Edge Upward After U.S. Imposes Sanctions On Venezuela

Bloomberg Markets

05:16 min | 2 years ago

Oil Prices Edge Upward After U.S. Imposes Sanctions On Venezuela

"Us. So let's start with the effect that so far the political turmoil. Venezuela's had an markets. It's sent the price up. Does this make sense to you? It doesn't make sense to me because Venezuela's oil, you know, right now Venezuela actually isn't producing all that much. I think it's numbers in December or something like one point one seven million barrels per day, which is very low for a country like but Venezuela produces a heavy sour crude what type of crude oil. That's very much in demand, and is not really a being produced as much right now, we get a lot of light crude coming to the United States and two refineries are really looking for the type of oil Venezuela producers. And that's probably why we're seeing oil prices rise just somewhat right now. Well, Dr walled Venezuela has one of the largest reserves on the planet with roughly three hundred billion barrels, can they even get it out of the ground. That is the big question and Venezuela's oil is actually much more difficult to extract and say Saudi Arabia's oil. So you can know Saudi Arabia doesn't have as quite as much oil as Venezuela. It produces a lot more their infrastructure is much better. And it's much easier to extract. But then Israel could be producing a lot more than it is. In fact, it's produced as much of the over three million barrels per day. So it's really not living up to its potential now. The question is right now the faith in a lot of problems with their infrastructure. Their people are starving and unable to work and the company is essentially failing so say, we got rid of all the political trouble. And they got a new government that was really willing to support the company and what it needs just how fast could they ramp up production. And that is the question. I think that they actually could do a lot to get that oil flowing very quickly perhaps not as much as three million barrels a day, but they certainly could increase possibly almost two two. And that would really help our economy get out of the terrible state. It's in. So let's say there is regime change in the next couple of months. Let's say when Guido does take over Nicolas Maduro was forced out of power. This is a huge conjecture. Obviously. Let's just say that that happens if Venezuela could oil production back online how much would that flood the market? What would that do to the price of oil? I think it would definitely push prices down. You know, they're still part of OPEC. They're still as far as we know OPEC doesn't seem to have any intention to get rid of its production cuts right now, but Venezuela is allowed to produce under that up to one point nine seven million barrels a day, and they really would do well to to push themselves up to that limit. If they can as quickly as they can. So we definitely could see if they could get that oil in the market, it would push prices down. So Dr ward what role if any do you think? Russia and China are playing or Ken play in Venezuela. Whether it's on the political side or more about their interest in the oil reserves in Venezuela. What role do you think they are playing and maybe could play going forward? Well, this this is a big question and particularly with regards to Russia because Russia 's loan than a loan the money, and in fact, Ross snapped the one of the Russian oil companies actually has a lien on citgo for its won't, basically if if PDVSA does not pay the interest on its loans to Russia in Russia can actually take control of forty nine point nine percent of the citgo refining company in the United States. According to they they hold that as collateral now. Of course, the question would be will the United States permit that they do have measures. They can take to say, no, we're not going to allow that national security grounds. But it really could bring this crisis almost into a US Russia issue as opposed to just Venezuela. Russia China issue now, China and. Rush are definitely going to do all they can't support Venezuela. I they want their money. They've loaned Venezuela money. They want Venezuela to pay that interest. If a new government comes into power that government could say, you know, what those loans were made under the Madero government, and that government was illegitimate. And so we're not gonna pay you. So they definitely have a vested interest in keeping the Madero government in power. Okay. Just real quick here. I'm glad that you went there because that was going to be my next question. Given the fact that China and Russia would like to see nNcholas Maduro remain in charge. How much does that make it unlikely that we do see a regime change? Well, I really think right now things are up in the air. It does seem unlikely given the fact that there have been attempts in the past and Madero has has rebuffed and he does seem to have control over the army and really when it comes to change when it comes to revolution. Like this. It does seem that control over the army is a can be a deciding factor that being said it. It's very difficult to predict revolution. We did a very bad job of it in Richardson Iran in nineteen seventy nine so I don't wanna say that. It's not

Venezuela Russia United States Madero Government China Nicolas Maduro Opec Saudi Arabia Madero Israel Citgo Richardson Iran Army Dr Ward Guido
"seven million barrels" Discussed on WAFS Biz 1190

WAFS Biz 1190

02:16 min | 2 years ago

"seven million barrels" Discussed on WAFS Biz 1190

"App you use to browse podcasts. Welcome back to the best of daybreak Middle East. Let's get more on the story and OPEC hasn't even started implementing its new six month agreement to cut I put yet already members responsible for most of the reductions have pledged to extend or even deepen it, Tracy and Yousef got more with Bloomberg Middle East energy editor Muhammad say so yesterday's meeting in Kuwait was of the group, which is a talking shop of Arab oil exporters. But the OPEC members. The United Emirates Kuwait, Iraq and Algieria they stepped aside. And they they had a message to the market. They wanted to calm the market and stop the precipitous drop in oil prices what they came out and said is that they could even contemplate an extraordinary meeting to go further than the cuts at the that they've already made although they were stressing that the cuts that will start on January first we'll be enough and clear the glut. It's just as whatever it takes moment that is quite quite odd. And it. It shows that they are committed and pledging that they will that they will deliver that cut as we look to the new year, we look at some of the forecasts that are out, and they have all been cut back in terms of expectations for demand growth, and you look at the reports from the IRA from OPEC and many others, and we have a graphic that tells that story quite powerful and also ABC energy to to add on top of all of that. What's going to be the stumbling block for four OPEC plus two to react? Here is going to be internal or is it going to be more external because it's so hard to react to an oil prices changing so fast. Yeah. So what what they what they're doing is? They're looking at inventories looking at supply and demand and trying to remove any type of build up. So right now, according to their estimates the inventory. Glut over the five year moving averages about thirty seven million barrels, they they think they can clear it in about thirty thirty to forty days. So basically by mid February there'll be there'll be ready, but then you get the demand outlook. So the next question is will they need further cuts in the second half of the year to be able to to to avoid another shocking.

OPEC Kuwait Middle East United Emirates Muhammad Bloomberg Iraq editor Yousef Tracy ABC thirty seven million barrels forty days five year six month
"seven million barrels" Discussed on The Interchange

The Interchange

04:46 min | 3 years ago

"seven million barrels" Discussed on The Interchange

"In the free trade of goods energy in services from sort of weaponising or using energy as of geopolitical tool on so that that's the part where i think some some people especially people in the market really don't like to see energy used for these geopolitical ends unless they're self serving of course and then sometimes roca with my sense this isn't entirely different from what you're saying but you know i think that i think there is at least to me a difference between energy independence and energy dominance in the sense that like energy dominance is about exerting leverage raised about gaining leverage by virtue of you know domestic supply that we can export and then get other countries hooked on it and then have leverage and then exerting that leverage where energy independence is more defensive sort of protective measure i think the the you know the version of the clean energy superpower may be somewhere in between the two i'm not sure it was intended to be used for geopolitical leverage in the same way but maybe it was either way was it was about sort of saying well let's not head into this twenty first century clean energy economy with one hand stuck bind are back because we don't have any of the domestic supplies but before we get back to sort of the current state of political affairs on it i think actually we should spend a minute on on how we got to where we are today actually how close to energy independent are now because the timing the timing as i understand it is interesting in that you know so you mentioned we sort of set off on the path toward trying to become energy independent he said restoring nixon and then during carter and we obviously failed pretty miserably that whole time and then hit what i understand to be an dear of our independence or the peak of our dependence rather around two thousand five when i'm cribbing from barbara rapier here who's written some good stuff on this when we were importing twelve point five million barrels per day of crude oil and finished products like s lean so is the peak thousand five and then since then it has sort of turned around so how how rapidly as it turned around why and how close to energy independent are we now so we're much closer the idea may basically is that through if you look at sort of net energy trade were down to on a sort of konami wide basis not just on oil we're down to a according to the ira in twenty seventeen down to lowest level since the early nineteen eighties so that's that's good and then as you mentioned on the petroleum side of the equation exporting huge amounts of petroleum products in that increasingly ever since the band got lifted on crude oil crude oil as well and so we still import a good amount of oil in increasingly they types of oil that were importing or different than they were before a lot of that has to do with you know not only our domestic needs but the needs of our huge complex refining systems that they can send out additional petroleum product so so anyway i mean the way that we got here was basically the us is producing record amounts of tight oil in particular from the onshore unconventional resources that i think lots of people have heard about and increasingly able to export that one because our economy is slowed down into because we're using less oil in the economy that we used to for whole host two reasons both because the shape of our economy but also because of a vision see within the transportation sector and so that has led us to this position where we're a net exporter of petroleum products and what i think is really interesting is if you look at the sort of net like petroleum trade for the entire us it was about like three point seven million barrels a day in twenty seventeen but if you look at the gross which is like both how much were importing export putting that's actually pretty high about sixteen point three million barrels a day so what is really interesting is we always focus on whether the us is a net importer of of oil as a proxy for how secure we are in on that metric you know the us is becoming more and more energy secure all the time because of what is the.

seven million barrels three million barrels five million barrels one hand
Pope Francis Will Meet With Oil Company CEOs to Discuss Climate Change

The Phil Valentine Show

02:47 min | 3 years ago

Pope Francis Will Meet With Oil Company CEOs to Discuss Climate Change

"Here's a list of some of the participants in the private conference with the pope next week larry fink ceo of black rock the world's largest asset manager i gotta ask you would you trust your investments to a guiding larry fink i'm just saying nobody named think or crook safely bob dudley ceo of bp darren woods of exxon mobil and then all these folks are former energy secretary under obama lord john browne former ceo bp current executive chairman of l one energy and then vin van bearden ceo of royal dutch shell was invited but declined because he had an obligation elsewhere the big picture the pope black rock and bigger all companies are increasingly focusing on climate change as cleaner sources of energy have become more competitive hanes you hear this today speaking of all this earl us earl import output jumps to an all time high that's right this is from oil and gas investor us crude oil production jumped two hundred fifteen thousand barrels per day to ten point four seven million barrels per day in march the highest on record the energy information administration said in a monthly report yesterday production in texas rose by four percent almost four point two million barrels per day a record high based on the data going back to twenty two thousand five the permian basin which stretches across west texas and eastern new mexico was the largest oil field output from north dakota held around one point two million barrels per day while output in the federal gulf of mexico declined one point one percent the anc also revise february oil production down five thousand barrels per day to ten point two six so oil production us crude oil output rose above ten million late last year for the first time since the nineteen seventies and now it's at an all time high it's an all time high we need to be producing more oil folks these folks are meeting with the pope and their oil companies and this is what they produce in the pope's going to wrap them over the nose with his rolled up encyclical or something and tell them you're bad boy band band bad you need to do some climate change and these folks in the business of providing us energy and.

Mexico Royal Dutch Vin Van Bearden BP Bob Dudley ANC North Dakota CEO Texas Executive Chairman Barack Obama Exxon Mobil Darren Woods Larry Fink Two Million Barrels
"seven million barrels" Discussed on The RV Podcast

The RV Podcast

01:55 min | 3 years ago

"seven million barrels" Discussed on The RV Podcast

"Is at nine point eight five seven million barrels a day and that is the highest level ever on record for the month of april and it exceeds typical summer demand measurements in fact and that means that has all driven up prices at the pump across the us cording to analysts that the automobile club five states reporting double digit increases the national average went up a nickel to two dollars and seventy six cents according to the auto club overall prices are at the highest level now in three years i keep repeating that three years gas selling to twenty six or more at every gas station in america and more so thirteen percent of stations across the country have had pump prices set at three dollars a gallon and more so get used to it do you remember hearing about the young man who woke class summer to the crunching sound of a black bear biting him on the head the young man was at a campground in colorado and while he was sleeping bear bit him on the head and tried to drag him out of his tent other staff members scared the bear way and likely saved his life the young man now twenty was in the news again this week i surviving a shark bite this time the colorado man was on vacation in hawaii when he was bit by a shark he had been in the ocean on a board when a shark bit his leg and four years ago he was bitten by a rattlesnake you talk about bad luck sky was by a bear a rattlesnake and shark in four years what else is out there that he should be where it was not invite him to one of our road checking gatherings.

colorado hawaii america three years four years eight five seven million barre thirteen percent three dollars two dollars
New Mexico oil production gushes to all-time record

The Mark Levin Show

01:44 min | 3 years ago

New Mexico oil production gushes to all-time record

"State police in eastern new mexico yesterday officer ray wilson says that police spend hours looking for forty eight year old andy lucero after he broke into his ex girlfriend's house in fort sumner then shot and wounded a friend of the girlfriend they end up tracking him into a field it's about twenty miles west of fort sumner off a us highway sixty there they make contact with them and although details are not being released wilson says that officers ended up shooting and killing settle the three officers involved are now on standard paid administrative leave and it's expected that new mexico's revenue picture will continue to improve as oil production reaches record levels robert mcintyre with new mexico oil and gas association says that one hundred and seventy two million barrels of oil were extracted in the state in two thousand seventeen with permian basin in southeast new mexico and west texas getting much of the credit the permian is really one of the top assets in the entire world right now and so i think that as long as as long as it remains so as long as producers are able to get the job done there we can expect a a lot of great things for new mexico for in the future last year's recordsetting production eclipsed the previous record of one hundred and forty seven million barrels set in twenty fifteen and a thirty five year old criminal from albuquerque is heading to prison for the next twenty years the us attorney's office says that nathan jensen was convicted in two federal cases and violated the conditions of supervised release in a third case this falls a guilty plea from jensen to charge of assaulting a federal officer on wall street today the dow closed down one hundred and.

New Mexico Ray Wilson Andy Lucero Fort Sumner Mexico Albuquerque Us Attorney Nathan Jensen Officer Robert Mcintyre West Texas Forty Seven Million Barrels Seventy Two Million Barrels Forty Eight Year Thirty Five Year Twenty Years