Turbulence even more severely than most and even with some of the fleet returning to the skies the impact on airlines and access makers is set to be long lasting ground it over 19 and the Airline Industry thats our focus this week on mate im chris colfer its good to have you aboard when covert 19 had europe earlier this year it didnt take long for airlines to react as one country after the next imposed lockdowns flights were canceled all over the world take a look at how the crisis affected the Aviation Industry the 1st slump came as early as february by may and june there was a 70 percent decrease and global air traffic compared to the Previous Year it still hasnt recovered even in mid august was only at 50 percent of its pre kovac 1000. 00 levels now the pandemic marks a turning point for this trillion dollar industry carriers and many factors are in freefall putting the axe on jobs and former press to. Projects take air buses giant double decker a 380. 00 for example the 4 engine je
Turbulence even more severely than most and even with some of the fleet returning to the skies the impact on airlines an aircraft makers is set to be long lasting ground it over 1000 and the Airline Industry thats our focus this week on mate im chris colfer its good to have you aboard. When covert 19 hit europe earlier this year it didnt take long for airlines to react as one country after the next imposed lockdowns flights were canceled all over the world take a look at how the crisis affected the Aviation Industry the 1st slump came as early as february by may and june there was a 70 percent decrease in global air traffic compared to the Previous Year it still hasnt recovered even in mid august air traffic was only at 50 percent of its precode 1000. 00 levels now the pandemic marks a turning point for this trillion dollar industry carriers and many factors are in freefall putting the x. On jobs and former prestige projects take airbuses giant double decker a 380. 00 for example the 4
Could no longer fulfill its obligations to its creditors this was the beginning of the petrodollar era and the beginning of all things everywhere are being priced in dollars oil is being priced in dollars all commodities are priced in dollars they gave america the us empire of debt it gave america the World Reserve currency it gave america whats called seniority which which is basically they get a cut over every transaction ever done anywhere in the world every coil trav if japan wants to buy oil that the buy dollars 1st and then buy oil for example so they have to give america a commission they get a cut thats a huge source of revenue for america now with saudi arabia and the us have been at loggerheads down for a couple of years that relationship has been strained and saudi arabia is i think youre correct they threw a hissy fit they said were going to just want the price down by 10. 00 for oil because our cost production is not even 3. 00 a barrel and so i think they thought everyone
many of his party will be handling it now. welcome, everybody, neil caboodle on a very, very busy news day on the oil front and on wall street because all rapidly rising. that is a front to you. how long does it last? first, peter at the white house with more, peter. neil, good afternoon. some biden officials who met with saudi counterparts about energy last month are expressing some surprise sagging they did not see the production cuts coming. you did not think there would be this big of a cut? no, i did not. i did not walk away with that understanding. but that was two weeks ago. that was two weeks ago and the president seemed to confirm a wall street journal report today that the u.s. may cut some sanctions on venezuelans maduro a potential source of oil if maduro irons out political issues of his own like talking to his own political rivals about 2024 fair election in venezuela. that was a bigot because we are told the national security council at the white hous
At 1275. Oil is rising about 2 for west texas intermediate. Nymex crude is up. What are you watching . Jon whats keeping the s p 500 from being weak on the days the fact that Consumer Discretionary subgroup is up and that has a lot to do with the fact that shares of amazon are up 7 right now. Investors last night were looking at the overall picture for the company. On the cloud side of the business, the indications on the road ahead were enough to give investors some confidence to buy the stock. Intel shares are a standout today as the ceo is pointing to a story of sales growth Going Forward after the challenges they have faced. Those are a couple of positive stories but i want to look at some of the energy names. Oil art oil prices are higher but when you look at exxon or mobil shares, to companies that fell short of expectations in the case of exxon and chevron. Some overseas concerns with exxon. Matt fortunately, we have one of the foremost experts on hydrocarbons with us. Alix stee