Plan on a great day lots of sunshine, a light north wind, and low humidity will make for perfect conditions to start meteorologic al fall. The average high this time of year is around 79 so this is actually rather typical. Tropical storm hermine will continue to block the weather pattern through the weekend with our next chance of storms arriving around labor day. At that time, warm temperatures and higher humidity will also be in the area. Have a good one today mostly sunny, spectacular. Wind ne 510. High 75 tonight clear and cool. Wind light ne low 52 tomorrow mostly sunny. Wind e 510. High 76 tom. Night mostly clear. Wind light se. Low 54 thanks kaj. Madeline has weakened this morning from a hurricane to a Tropical Storm. But forecasters are still taking the storm seriously. A Tropical Storm warning still remains in effect for the big island and maui. Officials warn of heavy rain, potential flooding, and dry. Several families have decided to do that at more than a dozen emergency sh
Some breaking news from the iea, the surplus in Global Oil Markets will last for longer than deviously thought. Supplygrowth slumps and proves resilience so says the International Energy agency. World Oil Stockpiles will continue to accumulate next year. Consumption growth slumped to a twoyear low as demand faltered in china and india while record members is opec gulf compounding the glut which last month the agency saw the market returning to equilibrium this year. That is the price of brent crude. That is the one week price. Were expecting key data tomorrow which could show supplies continue to increase. The iea changing its view on the oversupply persisting into 2017. I want to tell you what is happening in the markets, a rebound in stocks from a threeday losing streak. By. 25 . 600 is up we are awaiting the u. K. Inflation data in 28 minutes time. It should show inflation continuing to rise because of a weak pound, oil factors. The 10 year yields down by three basis points today. Y
U. S. Energy grid and the areas that should be prioritized. This runs two hours. This hearing will finally come to order. Obviously, four votes and members going home have put time crunch on this committee. I want every member to know whether youre republican or democrat, ten terms or first term, youll have a chance to ask our witness your questions. But that means ill be very aggressive with the gavel to ensure you stick to the fiveminute limit. And heres my example. Im giving myself five minutes for an Opening Statement. America is back. We are an energy superpower. That statement would have sounded odd a handful of years ago, and laughable in the 1970s. But the fact is, we are awash in energy. Today, we are the worlds leading producer of oil and gas, and were less reliant upon foreign sources of energy. Our resources are plentiful and affordable. So affordable that low prices have become a common complaint back home in houston, texas. Except from my daughter in college who now has m
Secondly, even if we are producing okay a few hundred thousand barrels a day more, that in no way changes our linkage to the Global Oil Price and the exposure to a price spike. In fact, if anything, its both the fact that we are connected to the crude Oil Global Market and the fact that we are and i believe will continue to be major oil product exporters. We are exposed just as in that anecdote i gave about britain in 2000, we are exposed to the Global Oil Price spike and thats really the modern issue in terms of what the sprol does for us. Point being, if were allowed to compete in the Global Economy well have a more robust oil and gas industry in this country than well have if were not allowed to compete with a more robust industry were less dependent on the sprol . Again, im sorry, senator i dont its not only the eia but the other studies that have shown that by lifting the oil export ban, we not only, panned our industry we create more jobs and Economic Activity in our country so w
Bloombergs headquarters in london. I am manus cranny. Time for another reading of growth in the eurozone. Italy this time. Disappointed in terms of estimates. Growth comes in quarter on quarter at 0. 2 . That after after we had the french and german numbers come in, a lackluster set of numbers. The Italian Economy grows at 0. 2 . This is super friday in terms of the overall performance. One people say is good. But lets get out to mark barton with breaking news. Mark breaking news from iea. Its on oil. This is the International Energy agency. It says Oil Stockpiles have 3ollen, have risen to billion barrels because of Strong Production and opec and elsewhere, deepening the rout in prices. Prices have fallen by 40 to the low 40s because of this, this movement by opec to sustain production and keep market share, the behest of the falling oil price. This massive cushion has inflated record supplies from saudi arabia as world fuel demand rose at the fastest pace in five years. That is not a