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That makes you a dangerous man to head up the fed and it's why i will oppose your renomination. >> senator warren sights powell's record and restrictions on the industry in recent years. stocks plunged today amid concerns about inflation, a drop in consumer confidence and rise in treasury yields. the dow lost 569. it's now on pace for its worst month since october. of the s&p 500 fell 90. it's worst day since may. the nasdaq dropped 423. meantime, your gasoline prices are rising. the latest aaa average is $3.19 a gallon. the price of crude oil topped $80 a barrel a day first time in three year...

Especially when the tide takes it into the bays. so i hope this thing works. but i think what you point out it underlies a greater problem that the u.s. government. now they are finally getting there. but at 60,000 barrel a day, that's a lot of oil out there. >> i want to ask you on the issue of this july 4th weekend. now you co-sponsored a bill that would help give tax breaks to businesses impacted by the spill. let some of them take money out of their retirement accounts to get by. how confident are you?

Anchoring system down. we are looking towards potentially next tuesday bringing an additional production vessel online. that will get us to the previously briefed 53,000 barrel a day capacity. that's notwithstanding the removal of the containment cap today for the issue that i've just talked about. on a more somber note, we had two deaths reported on people who were involved in this response earlier today. one was an accident regarding a swimming pool -- swimming event, and another one was a vessel of opportunity operator in gulf shores, mississippi. our thoughts and prayers go out to their fa...

At the pictures. they look different to us this morning. so -- we got our experts on it trying to figure out what was going on and we just learned the discovery horizon removed the containment cap. i want to go to professor overton. what's going on under water? >> a lot more oil going into the environment. that's what you expect when you remove the containment cap. >> they are saying that -- they are going to check the cap. if none, they will reinstall the cap. how much of a concern is it? >> it is a big concern because -- the containment system would remove, you know, upwards of 50% of the oi...