And demand theres so many other factors but right now its holding nicely but david youve seen these markets over the years like you say you have a longer term term view and and we do see opec and other nations russia namely that have their Production One point eight one point eight billion Barrels Per Day that theyre there holding off the market but the u. S. Seems to be making up for that so you do you see the increased u. S. Production keeping sort of a governor on prices. Absolutely i mean the United States has been i mean lets be realistic theyve been knocking the cover off the ball i mean theyre at the highest production rate that theyve ever been you have regulations that are being pulled back like it or not it is what it is and thats going to enable more and more production to be made so i do believe that will be a major factor and keeping somewhat of a cap i dont see except for maybe a world event there an issue in the middle east i mean a major issue a major spike in prices and david can you tell us briefly about some of the other contracts and what they call the Energy Complex nat gas for example hows nat gas doing lately. Oh sure lets look at that gas that gas has come off a lot in the past couple days and were at the two unchanged level but again in two thousand and six we were at fourteen dollars b. T. U. And then in two thousand and fourteen we were at six dollars b. T. U. So inherently its still very low as well as were getting to get into the ground cheaper its becoming you know were doing more efficient products all around and again so i think that thats also a market that is tradeable but i dont see a big spike in that comment in any way shape or form the last question we got about thirty seconds david do you think that lek tronic traders call them speculators but to each his own right you think theyve been a good thing or do you harken back to those four trading days when things might have been better. Well for me if you were who is better on the floor it was a great rush and it was a wonderful place to be but i know this is a lot of conversation for another show but i think today really shows the problem when electronic markets come in and the algos kick in there is no way the average person on the trade or ameritrade thats putting their orders and can hit that button and make a decision fast enough to curtail their losses and trading is very simple its all about critelli your losses and writing your winners and that makes it very difficult you know when markets go down they go down fast when they go up they can go up fast too so its a double edged sword David Greenberg founder and dreamer a catheter executive Committee Member of the New York Mercantile Exchange of the past thank you for joining us david. Thank you good to see you. And more on energy when we return but as we go to break markets continue their curious correction the dow when just Dow Jones Industrial average dropped by one thousand one hundred Seventy Eight points today following fridays six hundred sixty point one we saw the largest intraday dow drop in history in history keep in mind that the dow was up in january year over year thirty percent in january alone so five or ten percent is still you know were still up and some of predicted this thing i predicted it but i didnt think it was a come this fast in this period as we go to break here are those numbers at the closing bell. The memo his come and gone but this controversy is far from over the political bias of the deep state has been revealed and the legal activities exposed if anyone will be held responsible. Back with more Foreign Energy in policy into this president trumps nominee to head the council on Environmental Quality c. E. Q. Kathleen Hartnett White has officially withdrawn her nomination from consideration her denialism on Climate Change had generated stiff opposition last november three hundred scientists wrote to the senate to oppose the nomination saying that quote this is not a partisan issue it is a matter of scientific integrity. And meanwhile tesla has announced that they will partner with home depot to sell their solar roof panels and home storage batteries directly to consumers the roof panels are designed to resemble a normal route. While the battery call them power wall is designed to store the charge from the panels to power at home when the sun goes down tesla says a battery can also prevent an interruption of power to your home in case of an outage home depot is the largest Home Improvement outlet in the country with over eight hundred locations at first tesla employees will be in Home Depot Stores that display booze or will be taken directly by home depot staff and after the initial promotion the solar panels and batteries will be in regular home depot inventory. Here to discuss solar energy and the Solar Industry is Nick Campanella the c. E. O. Of Sun Pacific Nick thank you for being here i mean what is the general state of the u. S. Solar Energy Sector right now and hows it doing compared to Smaller Companies internationally great thanks for having me the u. S. Solar jenny so you Energy Sector right now its a little bit of flux facing some uncertainty as a result of the tarot if. It was generally set up to shift the production back into the United States and support local manufacturers we clearly see it pushed to level the Playing Field with this tariff. If you had to explain the tariff for our viewers who dont who dont know im aware they did a tariff on solely to a tariff on washing machines i believe but explain how the solar tariff for our viewers basically the ministration pass that thirty percent tariff on any solar panel imports from overseas basically that the tariff is a step down scale where it will level off after four years to about fifteen percent. Ok fifteen percent all right so just a week after the president announced that tariff that juncos sall are announced that day there is a Chinese Company i believe would build a plant in the u. S. I mean thats not necessarily is that the reaction that we thought was going to happen with regard to the tariff. Well its pretty practical you know a lot of these solar manufacturers are already currently relocated into the United States you know the solars is right now currently probably thinking about doing the same theyre looking at the tarot the falling dollar and the number of considerations to i guess being closer to their customers when you when you take a look at the level of automation in manufacturing that they have i think strategically we believe that that would be a good decision on their part to be able to manufacture and create jobs here in the u. S. If you tell me a little bit about the number of solar related companies and the number of solar related jobs in the states right now nick right now the predominant is in a manufacturer its very limited in the United States i believe theres probably about three or four manufacturers here currently the predominant. Structure for us in the u. S. Is the installation and the Man Management of these solar and Renewable Energy projects so i mean if you think about places in the world and you think about you know the middle east and obviously they have their their own Energy Source with with in the ground there but its theres a lot of sun theres a lot of sun and africa and some other parts of the world but weve got a lot of sun in the in the southwest eccentric how does the u. S. Stack up as in terms of potential for use of solar energy going into the future genetic. Well solar is a great aspect of providing Renewable Energy theres a lot of other Renewable Energies that were looking to work with waste to Energy Wind Turbines geothermal so it depends on the location for you know getting the most aspects from the solar products and Solar Panel Production and what do you think are there are sort of the Biggest Challenges for the u. S. Solar industry well primarily were looking to be able to expand the solar footprint and reduce our carbon. Usage right now i think the ideal opportunity would be to have more federal mandated products that are available for the u. S. Solar installation and Renewable Energy projects to be developed and expanded by being able to take advantage of some of the tariff and using that tarot funds that have been collectively accumulated over the years to help finance some of the local and state and federal projects that were looking to develop here in the u. S. Well i mean the you know the administration doesnt seem to inclined to be subpoenaing theyre all about you know the beautiful and glorious clean coal which im not sure i mean coal is fine but im not sure how beautiful and glorious that is but i guess if your jobs depended appointer it is but so i dont think theyre going to go down the road nick and probably you dont either of you know mandating you know certain businesses have smaller exciter but one way to deal with it might be something im sure youre familiar with and they tried it here in the u. S. A long time ago and that cap and trade where you actually have to meet certain standby or metal standards and you can sell credits if youre a Good Environmental citizen or a business to perhaps those beautiful glorious clean coal plants that maybe arent so beautiful and glorious when you talk about Global Warming and what do you say about cap and trade. I believe that thats a great way to tackle the needs that we have in the us and by being able to you know expand on those types of programs is what we would need in varying thats this area you know green energy and solar not something that is going to go away but will continue to grow and become. A dominant part of our local energy grid thats for. That was Nick Campanella of Sun Pacific Energy now with more on energy and renewables were joined by tyson slocum the director of Public Citizens Energy Program tyson thank you for being with us again always great to be here bart ok so lets talk about our overall mix of energy i mean we talk about oil we talk about solar is it a good thing that we have all these different this panoply of different Energy Sources out there will definitely having an all of the above fuel mix like we do in the electric power sector does have some benefits in terms of being able to draw upon all these different fuel sources whether they be Renewables Natural gas coal or nucular but the fact is where the trends are going in terms of Market Penetration and Cost Effective fuel sources its really being dominated by renewables and by natural gas and on the transportation side obviously oil right now dominates for fuel source but increasingly especially all these pledges were seeing from auto manufacturers the Market Impact of a tassel the electrification of the transportation sector is the next big step and we get to that in just a minute but i will go back to fracking for just a minute i know youve seen the graphic we showed earlier when when ashley banks was here that graphic of Corpus Christi in austin which shows that the eagle Ford Fracking locations are just about as bright as the cities. You know how is that is that impacting not only Energy Prices but the environment. Like and also youve got a theres other place in the country too yeah of course i mean fracking like any extractive industry has significant environmental impacts whether its water you know you use about six to eight million gallons of water per frac to well because youre injecting this water mix with chemicals and particulates like sand to do the frac then of course because there isnt robust natural Gas Infrastructure to pipe out the natural gas that comes up with a frakt oil well in eagle ford youre flaring off. A large amount of the natural gas in the eagle ford as a waste byproduct thats part of what youre seeing in those satellite images and so that obviously has negative to give you guys this energy that may be less expensive but then you are burning it off and thats also going in to the atmosphere and in some cases i guess into people sinks into burning it off and theyre saying absolutely yes we have seen a number of well contamination issues across the country and then of course when you want to dispose of the millions of gallons of waste frakt water we dispose it in these deep disposal wells and those are causing seismic activity or earthquakes particularly in oklahoma and in other regions where theres a lot of fracking going they call those the zinc equinix i think thats right ok so lets go to renewables and go to tesla which is just you know going full speed ahead and other carmakers are feeling the pressure also you know youve got in tesla youve got a speedy car that can really move and is Battery Powered is that trend going to continue and continue as we go forward absolutely that was one of the brilliant Marketing Strategies at tesla did we show the world that in all a vehicle could be a High Performance desirable vehicle and really at first that was just. Sort of a badge for wealthier individuals who wanted a status symbol it wasnt really a Renewable Energy company but with the introduction of the more affordable car even though theyre having serious production bottlenecks thats really a recognition that the future of the Auto Industry is going to be increasingly electric and so weve got to reconfigure elements of our infrastructure to accommodate that eventual switch and other other things outside of autos that will electrified transportation i mean high speed rail other things that will make sense absolutely and here in washington d. C. Where i live you know i get to work every day on the electric powered subway system or metro so yet the electrification for transit isnt just for individual automobiles it isnt just for self driving automobiles its also for transit operations you know earlier i talked about big glorious beautiful coal and i dont want to make too much part of it i mean people have jobs in it and its in an Energy Source and if they can make it cleaner than it is coming out of the ground that to a great thing but you were telling me earlier about the National Coal mining museum. Let our viewers in on that right so the Kentucky Coal museum in the state of kentucky last year realized that they could put eighty solar panels on the roof of the museum and generate electricity for cheaper than what they were paying the local utility which relies heavily on coal and so even in the heart of coal country to power of the coal museum in kentucky they win a solar because it was the cheapest option and thats really what were seeing across the country is that renewables like wind and solar are increasingly the least cost option for consumers and for markets and thats really the revolution that were seeing today tyson slocum director of public his Energy Program thank you for being here always my pleasure. And before we go bad boy Bank Wells Fargo has been taken to the woodshed yet again this time by the u. S. Predator reserve which has and this is part of it for spain action barred the bank from the growing past one point nine five trillion dollars in assets as one analyst said the fed just put the fear of god into bank board rooms across the country well have more wells fargo tomorrow with erik reiber who has written about this strange set of circumstances and be sure to catch boom bust on you tube you tube dot com slash boom bust r. T. Catch you next time. You. See we have a great team but we need to strengthen before the free world cold and your bets have been a legend to keep it so its at the back. In one thousand nine hundred two that must qualify for the european championships at the very last moment no one believed in us but we won and im hoping to bring some of that waiting spirit to the r. C. C. Reason the had a lot of practice so i can guarantee you that Peter Schmeichel will be on the best fall since my last will come from that steroids or three. Thousand the joke was only. Brush. Left left left more or less ok stuff thats really good. Across europe municipalities are taking their water supply back from private companies to me to peep out the cells with simple song alone even some company against all else with they invite private companies to take over the utilities anybody tell us to open. I wish you guys to go very well on the. Camera because. More you will deliver bill broader locals are ready to stand up for the basic human rights over access to water its about water but its also over much more than war its about the hurt and the redistribution of our worst words. They dont words we want all. Our tea looks at the devastation and suffering in the iraqi city of mosul seven months after it was liberated from this law mixtape. The infamous drum dustier describing alleged collusion with russia hits the headlines again a Senior Republicans accuse the clintons of feeding information to the former spy for wrote the report. Under mourns the loss of a pilot who was shot down over syrias province on saturday and died fighting islam is diligence on the ground. The latest on all the stories head to our team coming up here on r. T. International a former cia analyst is the guest on sophie and co talking about the biggest threats to global security. All come to sophie and co im Sophie Shevardnadze new sanctions room in the u. S. Russia standoff what is a spat mean for the world and sharon answer to it my guest today is Matthew Burrows a cia veteran now us and a former National Intelligence counselor. Chaos in the middle east the Nuclear Threat in korea the trade war between russia and the west the world order is being tested on multiple fronts and without a clear bipolar a system or sole superpower could well we know all be on the verge of collapse will and lead in this world that once itself out and find ways to move forward was a doomed to descend into chaos and anarchy. Dr Matthew Burgess s c i have that are an analyst and a former National IntelligenceCouncil Welcome to the show its really great to have you on our program so matthew the world is no longer split into like during the cold war and clearly u. S. Isnt leading the world like its try to in the ninetys so she will be bracing ourselves for a cast in this new lateral reality chaos maybe a strong word certainly instability because i dont think we have really achieved some sort of equilibrium the us is trying to find a new role for itself other powers as well so why though why it why is it so bad i mean weve had it leaderless world for nanny centuries before and we were find well that literalists world had quite a few wars in it and obviously i think you know our own. Avatar i mean for conflict is very very low these days and public server much more eager to see economic improvement than they are to. Actually get into a fight with a neighbor or or with other powers in the world. How volatile is to current state of u. S. Russia relations i mean do you see more a sort of a stability within this confrontation or is it teetering on they are predictable and dangerous its it certainly is unpredictable i would say its potentially dangerous if it keeps. At this low level of of non cooperation. You know weve had differences before but weve also been able to talk to one another and we also add those channels of communication and at the moment even between you know nongovernmental bodies there seems to be a very low. Low communication between between the two so is it sad as the cold war reroute or even worse in a way well its worse in the sense that there isnt that communication i think it is different to the u. S. Really sees its peer competitor is china so in some ways you know is not is concerned i i dont share that that belief but is not as concerned about russia they see russia as a declining power and therefore a power that in their minds. We shouldnt have to pay that much attention to so that is a very dangerous situation. Donald trump who looked like he could be a blessing for moscow washington relations cheering as complain is now conducting they were russian business in an even more adversarial manner than barack obama why such a huge turn first well i. I think he is hemmed in with finished yet i mean i am not sure that he has changed his views i mean his views were always that we should be trying to cooperate together but he is a weakened president theres an Ongoing Investigation as im sure you know about whether there was collusion between his campaign and russian authorities so he can voice and he sort of. Argument for better relations but i mean hes the president of the United States who can hammer even if you want to have a Good Relationship with russia you should have a Good Relationship with russia doesnt his word mean anything when im president is that. I mean this is the definition of a weakened president. You know has congress who is passed sanctions almost unanimously he couldnt veto it. And so he asked still by by that legislation and he can actually voice much sentiment for better relations without implicating him selfie in some sort of conspiracy with russia or collusion with russia can give the russian missed a geisha and coupled with possible democratic gains that they can twenty eighteen meet term elections and us bring matters to a crisis point and impeachment trial even well. I mean it depends if the Democratic Party wins both houses because it is it can impeach in the house of representatives so with a majority if it wins a majority after the november elections it could bring in pietschmann proceedings. In order to. Convict a president. And throw him out of office us have to have a trial in the senate. And its not clear if the democrats can win the senate. I mean you know bill clinton was impeached as well but he wasnt convicted i think when it comes to it a lot of legislators both on the republican and democratic side may actually hold back from going through particularly with a conviction not so much the impeachment now its been done against bill clinton so theres a precedent so that you ron dale and some progress in syria shows russia and the United States can sit down and tackle global problem successfully if then it arises is this how its going to be for the foreseeable future sanctions and hostility mixed with pragmatic operation. You know that is certainly. I mean its a step maybe in the right direction where you can get more cooperation on different issues. You know hopefully at some point that cooperation improves there a lot of east shoes like arms control where we need to be talking with one another so yes i mean fully it doesnt stay there and minimal cooperation but moves up so more more cooperation the u. S. And russia managed to deal with it on an issue together and now we have another Nuclear Crisis with north korea can the two countries go again and sit down and involve china and get the koreans to work things out pull this off one more time. It will be it would be easier for the u. S. To deal with russia as part of a group of countries along with china japan south korea and others it is very difficult to at the moment to have those bilateral talks. At least openly and even if you have them behind doors there are so many leaks from this administration that its very hard to carry on diplomacy. You know with russia without that leaking so yes i think you could see in a. In a broader setting where you have other powers you could actually see improvement in the cooperation and that may build some trust back into the relationship. Now during the john kerry years so that this approach of working on some issues while clashing over others will actually lead to a comprehensive mending of the russia u. S. Relationship but that hasnt materialized why doesnt taylor send continue working this line. Well there has been you know a sea change and nobody saw this exactly coming but you know obviously there are dead there are difference here is on the interpretation but most americans believe that there was russian interference in the elections so and they see that as an attack on American Values so during the kerry years and even before that during the clinton years there was more of a willingness to go in there