Chinese and how they are going to cash in on the biggest ipo ever. Real money. This is real money. You are the most important part of the show, to tell me what on your mind. A decade of war is now ending. The speaker of those words was president obama in january 2013 on the day of his inauguration for the second term in office. They were words that resinated with many americans, tired of the wars in iraq and afghanistan. Wars that cost the country the lives of thousands of american soldiers and more than 1. 5 trillion. The president s plan spelled out in his state of the Union Address was to spending some of the peace dividend to pursue, quote, nation building at home, while sha shrinking the u. S. Military budget. But 20 minutes later, president obama faces a world where russias annexation of crimea has forced nato to confront the worst crisis since the end of the world war. A world that is china flexing his muscle in the sea, this comes as baobama tries to pivoto asia. But the pivot will become increasingly difficult as the rise of the Islamic State becomes the most daunting foreign challenge for the u. S. And its allies. The president this week will explain his strategy to destroy the militant work. First meetings with congress on tuesday, and then to the American People in a speech on wednesday, the day before the anniversary of the 9 11 attacks. Here is Mike Viqueira with more. After a month of mixed messages on the fight with the Islamic State group, coming from the president , the Vice President , and top officials, the president will get everybody on the same page. Well be giving a speech on wednesday to talk about the strategy to take the fight to the Islamic State group. He is making very clear there are a couple of things that will happen and things that will not happen. This could take a while perhaps into the next presidency. It will require a coalition, not only of the traditional American Allies in military expeditions, but also regional nations with the gulf states and other middle Eastern States joining as yet unnamed and unnormed coalition that is still under negotiation. And also the president and his aids have said time and time again, no american troops on the ground. So if the president s goal is to destroy and deare grade the Islamic State group in syria and push them back, who occupies that space . He said syrians themselves and army. This is an organization that the United States has covertly arming. But there is concern that any arms that go to this group end up in the hands of the rebels and that equipment has been used against kurdish and iraqi forces. On monday the White House Press briefer is question. We have been engaged in an effort to support them for more than a year at least. Separately, the concern that was expressed by the administration at the time and has been its something that has been often repeated is a concern that we didnt want to provide assistance to every individual who said that they were fighting bashar alassad. And there has been an ongoing concern that arming the socalled moderate vetted rebels in syria is not a good idea because many of those arms end up in the hands of the bad guys. The administration blocked weapons from saudi arabia. Also now the question of will the president consult congress before he expands operations into syria. It is become very clear at this point that he thinks he has the support he needs while he will be consulting with congress, it appears there will be no further votes in congress to authorize the expansion of military within iraq and syria itself. In addition to all of the capital the president has to spending at home and abroad, there is also the question of money, specifically whether congress and the American People will support out lies. Mary snow has that story. Reporter whatever the president s strategy to fight the Islamic State, he has made one clear defeating the grouping wont come quickly. One defense spending expert estimates an air campaign alone could cost the u. S. Between 10 and 15 billion a year. That would be in addition to the 496 billion pentagon budget that begins in october. And its not included in 58. 6 billion called the overseas contingency operations. Money set aside each year for military challenges. The question now is will that money be sufficient in this years Defense Budget came with plans to shrink the number of u. S. Troops to levels not seen since 1940, cuts over the next decade are projected to shrink defense spending to 2. 7 of u. S. Gross domestic product. Those cuts follow 13 years of costly wars in iraq and afghanistan. [ gunfire ] reporter for now that peace dividend appears elusive. It is believed these latest commitments will cost money but will pail in comparison to the cost of iraq and afghanistan. He joins us more from watertown, massachusetts, thank you for being with us. We are committed on two and a half fronts, i would say. We know we have to do something in europe with nato. We are believing we have got to do something in the middle east with Islamic State. And we had submitted to doing stuff in asia, which i imagine is the first thing to give. Yeah, i think thats right. And its important to draw a distention between commitments that are more costly and less costly. I dont see the europeans pouring a ton of money into nato. I think the number is going to go bigger, but not an act of war. I think the pivot to asia is going to move more slowly, so the real issue is the middle east. Were going to spend more, and have a commitment, but were not ground. Because we think the Islamic State is easier to overcome than the taliban . I think because we already have Ground Forces, the kurder peshmerga, the iraqis, the iraqi army, and others. Isis has done something that virtually no other group has done in human history. It has gotten arab, israeli, muslim, jew, syrian rebels, and syrian government, and alqaeda as a number one enemy. So we can add to that. What about the fact we have a nonresponsive congress and we went through something called the sequester that military leaders told us over and over and over again, you had better be used to a smaller military that can handle one major engagement at a time. Yeah, and the sequester is a terrible idea. But i think that budget is coming down nonetheless. It will be air strikes, drones, special operations, the sort of pointy tip of the sphere. And you will see army and personnel forces going down. Why . Its the center ofgravity. So the numbers serving in the down. Are you ruling out real Ground Forces . Not to say the people on the ground the 800 advisors are not real, but are we ruling out forces . Yeah, and i think thats the right distinction to make, right. Folks with rifles who fight battles, thats not going to happen. Were going to have drones, intel operations. Trainers, air strikes. Not boots on the grounds as we would think of it. Can we do this with air strikes and drones . We have a 21st century military. Were very hightech, but this was our problem against the taliban, these guys are somewhat low tech. Islamic state. They somehow i dont know how they manage to drive these tanks into things they are capturing, tech . Yeah, i agree. And air power is great for some things. It is terrible at other things. It depends on your adversary, and what you have to bring to the table. In iraq and these other places we already have Ground Forces. We have others willing to do to the fighting on the ground. Thats why the last few weeks isis has taken it on the chin. Why . We soften them up with air support, and the other Ground Forces lead the battle on the ground. Afghanistan. Our gosh josh . Erbil is saying there are the shiites, fighting alongside kurdish, and the Islamic State is on the other side of the line. You do seem to have tom confidence in this iraqi army. No, but they seem to be doing better. And i think the key was malky had to go. Clearly the u. S. Wasnt going to lift a finger until he was gone. They seem to be reconstituting, but i agree thats a process, its tenuous. We have to wait and see. But strategically you are absolutely right. Alqaeda groups, these groups, very strong ideology, but strategically, stupid. They have picked a fight with everyone all at the same time. Even im not that stupid. Jim walsh, always a pleasure to see you. Coming up, Americans Energy boom has meant 8 billion ta day. But at the same time we are not exporting. Ill tell you why next. You are watching real money. A new episode of the Ground Breaking series, edge of eighteen just because your pregnant dont mean your lifes ended. Intense pressure. I dont know if this whole dance thing will work out. Tough realities. We chicago chiraq, because we have more killings. Life changing moments. Shut the camera. From oscar winning director, alex gibney, a hard hitting look at the real issues facing american teens. The incredible journey continues. On the edge of eighteen only on all Jazeera America weekday mornings on al Jazeera America we do have breaking news this morning. Start your day with in depth coverage from around the world. First hand reporting from across the country and real news keeping you up to date. The big stories of the day, from around the world. These people need help, this is were the worst of the attack took place. And throughout the morning, get a global perspective on the news. The life of doha. This is the International News hour. An informed look on the nights events, a smarter start to your day. Mornings on al Jazeera America the European Union has approved a new round of economic sanctions against russia, but they tonight with go into effect yet. Because e. U. Members wanted to give a recent ceasefire a chance to work. The new sanctions would expand the number of russia businesses barred from raising money in European Union financial markets. They would effect three energy companies. Now lets look at the Energy Industry here in this country. The u. S. Is pumping more than 8 billion barrels of crude oil a day, and we are consuming a lot less than we used to. But because of a law that dates back to the 1970s america cannot export abundance of oil. David explains. Reporter a new battle is shaping up on capitol hill with front lines that stretch far beyond the mar bell halls of congress. In lobby offices, analysts say Americans Oil producers and refinders are preparing for a major Midterm Election clash. The ban was put in place during the 1973 Arab Oil Embargo against countries that supported israel. But with a shale boom that has made the u. S. A leading crude oil producer. Industry adz vo indicates say americas four decade old ban on exports restricts economic growth. Some people in the industry are worried as we reach the utter most limits, that we could see dramatic downward pressure on prices even to the point where some of this oil were finding might become far less economic to produce. As the fracing boom ramps up, america will need to start exporting. If they cant, they will lose incentives to stop producing. But refinders say the crude they buy in the u. S. Is discounting precisely because america is producing more oil than it can use. Exporting that would drive up profits. It really comes down to some of the big refinders versus the big producers, and there will be winners and losers, theres no doubt about that. Reporter at least ten Oil Companies have reportedly started organizing their lobbying efforts to pressure officials to get rid of the ban. President obama even took an initial step this year when he allowed an ultra light oil to be exported. But the deal breaker could be pump. Domestic gasoline prices we believe will fall. Reporter thats because adding more fuel to the Global Market would increase supply, and perceptions about shortages formed in 1973 still holds sway eye among american voters. Many remember waiting in long lines to fill their tanks. Jay webster is a senior director of global oil markets. He says that politicians may be about to weak up to see that refineries cant handle the amount of oil being produced here in the United States jamie great to have you here. There are a lot of people who think there is an economic and political benefit to exporting oil from the United States, but there is nobody who argues that the exporting of oil or natural gas isnt going to be felt by the u. S. Consumer in forms of Higher Energy costs . Well, i would disagree actually on the gasoline side. I would argue that if you exported oil, you would end up producing more oil in this count try, because producers would be getting full value for their oil. So we would expect you would see 1. 2 Million Barrels a day out of the United States ever year on average from 2016 to 2030, more oil on the market means less gasoline prices for consumers all other things being equal. Natural gas, though, thats a different story. Our price is lower in the United States than lets say europe. They have a shortage here, we have excess here, we start shipping ours out, were likely to see an increase in that . Absolutely. And natural gas is largely a regional fuel, but oil is a global fuel. So when you export the gnat really gas, you are expected to see a slight increase in prices. When you look at the reason why we cant export oil from this country, it was about Energy Security back in the 1970s. How do you maintain that balance where we let some oil get exported but not so much that we get into another Energy Security problem here in the United States. Prices will solve that quite well. Also if you allow the export of oil, youll end up increasing how much production we have here in the United States, and i think policy makers are going to start to turn towards the idea in the future, that a barrel of oil produced anywhere increases oil security everywhere, so having those export barrels out on the market globally, you are going to push down prices and that is going to end up helping consumers around the world not just in the United States. There are people who argue that if you push down prices, you dont get more oil produced. We hear this from the oil sands all the time. That the cheap oil is not as available as it used to be. And now its harder and more expensive to get it. So how much can you push prices down and still say it is going to result in greater production. Theres two elements. One, you are increasing oil prices within the United States, but that doesnt flow to the consumer. And that is because if you allow the export of oil out of the United States, that means u. S. Oil ends up moving in line with global prices. So that brings more economic benefits back to the producers, but there is no negative impact to consumers because that extra oil then ends up increasing total global supply, which then brings down the price of gasoline. So if you allow the export of oil you get an economic benefit because producers are able to produce more, hire more, and since theres more oil out on the market, prices go slightly lower. What ends up happening if you dont allow export, is u. S. Producers are going to have to slow down, because they are not receiving full value for their oil, so you have lower production, lower total supply, and then you end up having prices go up higher, globally and in the u. S. On a gasoline basis. Jamie thank you so much. Well, they say that age is just a number, but a new study says a rising number of old folks in the United States could drive the next housing crisis. Ill explain why Industry Experts are worried about aging lifeline. Saturday prop 8, really made us think about this process of coming out. Meet the committed couples gay marriages, straight marriages. Have the same challenges. Its all about having the same options as everybody else. That fought for equality saying i do changed everything. Every saturday, join us for exclusive, revealing and surprising talks with the most interesting people of our time. Talk to al jazeera saturday 5 eastern only on al Jazeera America an astonishing america tonight investigative report why are you wearing gloves . Ocd. Taking over this womans life. I dont wanna touch anything. Now a controversial surgery can literally reprogram her mind we can modify emotional circuitry is this a miracle cure . Or an ethical nightmare . Theres a lot of mystery right now. Rewiring the brain an america tonight investigative report only on al Jazeera America president obama is facing fierce criticism on many fronts for his decision not to work around a negligent donothing congress and take executive action on Immigration Reform until after the Midterm Elections. Its a change from an earlier pledge he made to act by summers end. Libby casey joins us now from the white house, if she is over the shock of yet another deadline has been missed in washington. Ali, it was not a big sho