This important legislation is a small step towards a big reward. Without it the United States exporters and Service Providers will continue to lose business to our foreign competitors that have already have trade relations relationships with russia. And once we lose those markets, our competitors will only become stronger and better positioned to surpass the u. S. In a critical marketplace of the 21st Century Global economy. According to the National Association of manufacturers, russia imported over 500 billion in goods last year, and of that total only 5 came from u. S. Exports. This bill will lift outdated policies and restrict american access to russian markets. As a result studies show u. S. Producers can expect to achieve doubledigit increases over the next decade in exports of heavy machinery, agricultural machinery, chemicals, and services. This is particularly critical for my home state of illinois where we have fallen behind japan and korea in these export categories. Most im
We will be forced to austerity. It will be pledged upon us. We ought to be doing that now before that happens rather than when somebody else is telling us what we are going to do. Thank you. Coming up next, attorney general holder releases the details of the 4. 5 billion in the bp oil sediment. Ed markey reacted to the settlement with bp. That is followed up by president obama touring a Hurricane Sandy damage in new york. In 2010, the deep water rights and rid explosion was the worst oil spill. Rig explosion was the worst oil spill. There was a 4. 5 billion settlement case. This briefing is half an hour. Good afternoon. Im here with the assistant attorney general from the Justice Department and the security and Exchange Commission of enforce. And head of deep water verizon task force and announcing the latest step forward in our ongoing efforts to achieve justice for those whose lives and livelihoods were impacted by the largest environmental disaster in the history of the United State
as of this past week, the latest government estimate is that as much as 60,000 barrels of oil are spewing into the gulf each day. let s talk about this with stephen worley. he was a member of the government s flow rate technical group that came up with this 35,000 to 60,000 barrel a day estimate. are you satisfied with that estimate or could it be even more? well, first of all, i should say that i m very satisfied with that measurement. i think it s a result of a scientific process and i got absolutely no sense that that politics was involved in it. i think we came to a well reasoned and scientific conclusion. because some people went in thinking it could be 100,000 barrels a day. you were among those, weren t you? well, what i said initially was 70,000 barrels a day. then i looked at this pink point and added another 25,000. but the important thing to remember about that and what the
helped the flow rate technical group reach consensus on how much oil is spewing from the well. one member says chu participated in discussions but never pushed the scientists towards a particular conclusion. i was happily surprised energy my opinion, politics played no role at all in this flow rate determination. it was an open scientific discourse do try to come up with the best possible estimate using multiple pieces of information of what the flow rate is. reporter: chu has history with bp. the company gave half a billion dollars to a national lab which when chu was its director. and one of chu s top lieutenants at the energy department is a former bp scientist, those he has been reduced from oil spill matters. chu has made few public comments since developing into the spill response and some think that s mistake. i think that someone like stephen chu could be very, very helpful in explaining to the american people what the efforts
from the flow rate technical group saying their latest estimates based on pressure gauges, high resolution video it was $35,000 to 60,000 barrels per day. were you on that committee in seattle washington that reviewed all of the data, right? yes, indeed, wolf. that is the number we ve come up with based on the small amount of data we ve been to analyze in the time available. a well, natural underneath the well do change with type. we can only evaluate what where we actually have data. we can t say what happened five minutes before or an hour afterwards. what i hear you say, it might be that number between $35,000 to 60,000. could be that number or less? is that what you re saying? exactly. we can only say for the data we have looked at, we know it changes with time. here s what tony hayward told