have reported cases this year. president biden says the us will sell off a further 15 million barrels of crude oil from its emergency supplies. the release is meant to prevent prices rising after the oil producing nations, led by saudi arabia, said they would cut production. speaking in washington, president biden called on american oil companies to pass on lower prices to consumers. my message to the american energy companies is this you should not be using your profits to buy back stock for dividends. not now. not while a war is raging. you should be using these record breaking profits to increase production and refining. invest in america for the american people. bring down the price you charge at the pump to reflect what you pay for the product. stay with us on bbc news, still to come: we ll tell you why these ancient rock carvings in the iraqi city of mosul are being celebrated by archaeologists.
the shareholders, and gain a seat on the corporate board. one thing i want to put in place is a stockholders own companies and management is employees but agreed to buy back stock to stop a t-bones t boone pickens. the prophet? $89 million for pickens but you have made half $1 billion through losing on these takeovers. do you anticipate that a loss will stand you well? you never like to lose, but if you lose and make money, it makes it easier. i remember, someplace, the guy got up and said i have a question. he said, you are making a lot of money on this. and i said, the shareholders are too. he said that yes, you are a fast buck artists. i said, who would want to be known as a slow buck artists? i see as the free enterprise system. pickens was the first major investor to realize how undervalued american companies were and what you could buy,
energy and dis- incentivize production costs are going to go up. while at the summit of the americans in los angeles president biden chastised the oil industry he gave a special shout out to the largest u.s. oil producer that is exxon mobil corporation as you know basically saying listen while we are paying at the pump, they are pumping up their profits and then president biden said u.s. oil companies are using higher profits to buy back stock, not to drill more oil. in fact here s a quote for you imparts, president biden said exxon made more money than god this year. why aren t they drilling? because they make more money not producing oil exxon pushes back on the state s thing of course it has continued to increase output. if we take a look at this reuters report i was reading earlier this is from yesterday it says quote exxon posted its biggest quarterly profit in seven years when it reported fourth-quarter earnings in
this hour. you know, i was looking. doesn t the fda or could we look at fema or anybody with a back stock on baby formula? this is an emergency now. yeah, absolutely. you just heard nancy pelosi say that stefanik s statement was irresponsible. let me tell you what was irresponsible. it was biden s fda shutting down the nation s largest manufacturerer of baby formula without a plan to backfill the 43% that they make up in the marketplace. that is irresponsible. prioritizing american kids is the responsible thing to do. having a secure border, that is the responsible thing to do. now nancy pelosi and the biden administration, they are playing catch-up. just like every other issue. it is a disaster from top to bottom and i this weekend went to the donna processing facility myself to make sure that everything was as it was
Just over a year ago, the city of Flint condemned the Sunset Village apartment complex near university drive. But even while closed, residents around the buildings say the site remains