Transcripts For ALJAZ NEWS LIVE - 30 20240713 : vimarsana.co

Transcripts For ALJAZ NEWS LIVE - 30 20240713

Going hungry around the world. No vaccine but that doesnt mean you know how we look at the different drugs and treatments being used to treat cope with 19. With the pandemic throwing world oil markets into turmoil donald trump says his government will look to support the domestic industry the president says hes told the energy and treasury secretaries to formulate a plan to make Funds Available to ensure the survival of american oil and Gas Companies that follows an unprecedented collapse in the u. S. Prices because of a glass in supply the u. S. Futures market dive deep into negative territory for the 1st time ever on monday the lowest the price of the u. S. Benchmark w t i sank was to minus 37. 00 a barrel the International Benchmark the brant crude on the other hand well thats trading at around 20. 00 a barrel thats still the lowest price its traded since the september 11th attacks in 2001. We begin with our White House Correspondent kimberly how could she joins us from washington d. C. So kimberly do we have any more of those details yet about how much money the trumpet ministration is going to give the industry and for how long is this an open ended commitment. You know it is this is a this tweet by the u. S. President seems to have caught some of the Administration Officials are guard because for the most part weve been referred every time weve tried to get a clarification to the Energy Department or to the department of treasury what is unclear is just exactly you know which companies are going to benefit how much theyre going to receive it almost appears as if the u. S. President may be reiterating a request that he made previously to the treasury and Energy Secretary sensually that would allow for oil and Gas Companies to take advantage of what service the carriers that and this is something thats tucked inside phase 3 of that very large part of me theres a bird flying through very large Coronavirus Relief package that came out of the u. S. Congress what this would do essentially is allow for tapping into loans from the Federal Reserve but again without these specifics were really left kind of trying to piece this together with no clear clarification from the white house while we do know is there is a liquidity crunch right so this money assumed at least to help them to get through not have to close down or close down too many oilfields. Yeah and weve seen this across the spectrum of the u. S. Economy whether it is in terms of Small Businesses you know those mom and pop type restaurants or other industries which is being addressed by the Paycheck Protection Program that allows companies loans this is a fund thats currently being topped up and talked about in congress to help Small Businesses or whether were seeing it here in the oil and gas side specifically we do know the u. S. President s particularly concerned about protecting jobs and this would essentially be another lifeline for another sector of the u. S. Economy that of course has been hit very hard with these plunging oil prices in negative territory so this is something that is dear to the president s heart he wanted the United States to be seen as the primary producer something that he campaigned in 2016 about he certainly said this is a goal when he took office in 2017 and achieved that goal in 2018 and something he wants to hang on to in terms of the u. S. Producing 18000000 barrels a day 18 percent of the production in the global sort of pie if you will but one thing is clear about all of this is that the u. S. President believes this is something that short term he talked about this at his last Coronavirus Task force briefing he believes because demand is low right now people are driving their cars there are not manufacturing lines that are up and running to full capacity that once he can get the economy back on track he believes this will be alleviated but there are many that are fearful that this is something that is a very short term lifeline and may not be enough given the fact that we have only just begun phase one of reopening the u. S. Economy and there are very little confidence that were going to get to the 2nd and 3rd phases any time soon or i can believe how could that from the white house. Now ministers from some of the worlds Top Oil Producers are meeting now by Conference Call the opec representatives are believed to be discussing how to implement agreed all production cuts immediately rather than waiting until may the 1st saudi arabia in the United Arab Emirates though a not taking part in the meeting its coverage of some of inch of a the in the oil give us a regional perspective on this so 1st of all what kind of revision are they going to come up with does it look like to be agreed cuts. But it is just a consul to dick consultation this is not going to be a meeting. With any reserve. And did in a few minutes ago and weve been hearing from the various ministers who will be telling us telling their representatives that this was a meeting which was taken to take stock of the situation after that bloodbath in the prices as the price per barrel went below the minus 40. 00 mark for briefly and this is something that opec nations are trying to grapple with because they have cut as much as they can they dont want to cut any further because it is going to affect their economies but on the other hand they have in the shoes of oversupply there is so much that Everyone Wants to sell and there arent enough buyers out there to buy that this meeting particularly was called by the ariens and you saw that as you mentioned earlier that the saudis in the end there are these 2 are the Major Players in these opec nations as long as as well as russia were not present in this beat so how effective will any consultation be without saudi arabia and the amorality as president why werent they present. When not much to be honest to because saudi arabia and the sense among opec enormous plus nations is that theyve cut nearly 10000000. 00 barrels which is the max that they would want to cut right now and the bigger cuts that need to come have to come from producers like the United States like canada or norway for instance still have. Policies that the sound even the his perhaps want to see how these major producers of crude oil are going to do their share because essentially what the oil markets are facing right now is not just over production that was started when the saudis and the russians went head to head but it is also facing a major demand shock which was which is somewhere around the 30000000. 00 barrels of march. Cut off their production or im afraid were obviously having little bit of technical difficulties with the sound of a but we can continue this conversation with militia techie and hes an International Oil and Energy Consultant joins us now by skype from london good to have you with us so 1st of all we saw the may delivery contracts for the u. S. Benchmark w t i always saw that go into negative territory yesterday but looking at whats happening for june delivery contracts for july delivery contracts theyre also looking down this is this is not a one off is it. No because as you have already mentioned so far the rolled in general and United States itself there is too much oil being produced by it or a company is by the Oil Installations various oil fields pipeline as well as and so on which are in connection with each other and loading and theyre living in cities but the man is getting less and less so there is actual oil in a physical way we can notice it within the United States as it is on the group and it is that extra or an excess supply which has to be managed now on a global scale the beast who Just Announced if i can. Jump can it be managed i mean we know now that some of the opec ministers are meeting virtually at least is there anything they can do and even the the reopening up thats taking place in some economies you know how long before any of that will start to impact all prices in a positive way. 1st of all the fall in demand as in you mention is about probably 30000000. 00 Barrels Per Day and i am on that they have committed to cut it all big and none none of it has russia and so on use 10000000 Barrels Per Day 9. 7 to be exact and so definitely dish is much smaller than the actual physical thought of the new man but people hope in fact the statements by some of the ministers i am by the. United states are present trying ones that are actually there could be also be contribution from the United States if not by the zine as orpik russia and so on are doing to reduce supply by the falls because there are there are a company is cannot afford to produce and sell at the price which is less than the cost of their production and now that was hopeful or people are hopeful that there will be a reduction in a supply gradually but even that is not going to be trying to fight it commitment very spread it all together so it will take sometimes it will take and that is the big question how long it will definitely be a month or 2 but the psychology has play effect if the world is gradually coming back and going to use more activities are picking up economic economical although it will spur certain measures that theyre working in the markets no doubt. That is the well are already going to see it as fast as the prices went down and were going to see perhaps a fast increase of some sorts because if all Companies Close oldfields and the world starts to reopen it takes longer to reopen an oilfield than it does to shut it down and were going to see prices go up somewhat fast at some point. No i dont think so i think this closing down technical closing or well and so on there are some problems but the media are exaggerating you know an oil Company Operators can close down it will take you live to resuscitate it will have been salt killed it was started again it can be done it is not a major technical problem is there a few days of no they cant but the question is that will there be enough of the amount for them. And that is the whole point as i said that the thought in the man is that say 50000000. 00 per day the commitments are 10000000. 00 Barrels Per Day by one group and maybe some others by the falls within the United States and some other companies there is talk that maybe in existence or straight what commission might get an agreement from the federal and state level that some companies will have production would be a progression so there were reduction there but these are all are smaller it takes time until it shows itself so that the price coming back would not be as not answer to your question would not be as quick it would take time and i think i can argue a death were even when in 6 months money it is back to a more stable level it would not be as it would be as a lower or so we were hoping 65. 00 pair around every the preprinted before hand the year or so ago it would last a few months before the crisis is started but i think looking at this quality if you do what i just stated the iran and some are there all the activity would not go back in a big rush and you know boom and so on and so and the. But in limited supply still would be too much and the summer and i think these will result that the price of oil probably would be Something Like 40. 00 in a year or 2 would sit him down about 4050. 00 or on event 6065. 00 a bench but this is a horse my yes but my arguments were i think answered your question it will take time for activities to get back to normal or right thanks so much money in the. Trump is that hell temporarily suspend all immigration to the u. S. President announced the move through twitter he said he views an executive order to protect american lives and jobs from coronavirus which hes calling the invisible enemy leon francisco is an immigration attorney and the former Deputy Assistant attorney general in charge of immigration at the u. S. Department of justice he says this would be one of trumps most significant moves to close off the country but whats new is that its a formalization of what it been an ad hoc process of closing embassies and consulates around the world and so the 1st step is to the extent that this order actually provides that they certain and actually closes all embassies and consulates around the world that will be a new barrier to allowing people day enter the United States that also needs to be withdrawn before people enter the United States all thats new and then whats not clear and what will need to wait to see the order about is will there actually be people in the United States who are not allowed to remove or change their visa as part of this order while that probably would be illegal its unclear whether that will still be attempt to be included in this order if people are told that the United States is now closed for business that is going to be a dramatic change and it wont just be the kind of change that the president is in visioning which would be what he views as sort of a direct one for one replacement Foreign Worker with American Worker many people who come on these cortical work visas are actually coming to open companies and to create Foreign Investment in the United States and so if youre doing this with a scalpel instead of a hammer youre actually causing more damage rather than less. Still ahead on al jazeera why the british governments current virus fatality figures dont pad out for critics. Harder for you cheers citizens is to iran to to do what we. Our volunteers are putting themselves on the front line of irans virus back home. But. We got a fair bit of cloud in the forecast the parts of the middle east that includes us here in casaya see this long line of clouds stride ling saudi arabia pushing through standing across the gulf not too much right on that but there will be a few showers into that the eastern side of saudi arabia the west the weather will be on the other side of the gulf will see some heavy thunder downpours into a good part of iran further north by the by some showers just around the 6th time pushing out sort of process of what anywhere between the black sea and also into the caspian sea i mean you can see some showers showers there into to keep us out of that generally try for a time northern part of iraq will see some heavy rain as we go on into thursday thursday much drop picture across the peninsula were going to see showers there into that set western side of yemen joining up with the showers that we have still in place across the ethiopian highlands somalia some big and thunder downpours here possibility of some flooding actually and wet weather there stretching all the way down into a good parts of kenya will see heavy showers there into the rift valley big downpours certainly a possibility for much of south africa where it is fine and dry there are a few showers around the eastern side of the cape these will drift that way that he sed. For. One half scottish and half lebanese so diversity is really important to me and aljazeera is the most diverse place ive ever worked we have so many different nationalities and this is east brought together in this one News Organization and this diversity of perspective is reflected in our coverage giving a more accurate representation of the world we report on and thats a key strength of aljazeera. We. Heard a world. Welcome back youre watching aljazeera time to recap our headlines with the pandemic throwing world oil markets into turmoil trump says his government will bail out the u. S. Industry told this energy and treasury secretaries to make Funds Available to ensure the survival of american oil and Gas Companies. The International Benchmark for oil brant crude is for them by close to 20. 00 a barrel its lowest price since 2001 after the price of the u. S. Benchmark w 2. 00 yard crude from a delivery crashed below 0 and into negative territory on monday. President trump says he will sign an executive order to temporarily suspend immigration into the u. S. Because of the pandemic he also tweeted he must protect american jobs. The coronavirus death toll in england and wales could be much higher than government figures indicated the office for National Statistics says by april the 10th it had recorded more than 13000 deaths in england and wales that was 41 percent higher than the governments figure of around 9000. 00 until that day. Joins us now live from london so how are the discrepancies being explained. Well the discrepancies in the row about them has been raging on for over a week now since last week when the office for National Statistics came out and showed a 14 percent difference between its figures and the official government figures on the basic explanation is that there are 2 different methodologies going on here the government counts death and infections by looking at the figures that are coming from hospitals and that is patients who have presented at hospitals with coronavirus symptoms and have been tested and proved positive they go into the infections or ac

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