the stock. he ll be here to explain. and the sooner state oil boom. brian sullivan drills down in america s hottest new energy hub, oklahoma. and he will join us live. power lunch starts right now. welcome to power lunch. i m melissa lee. stocks are down big as fears of a coming rate hike rattled the markets. take a look at where we stand in the markets right now. dow, s&p, nasdaq all near session lows, for dow 230 point loss, nasdaq being hit hard as people are taking profits in technology down by 1.6% now. big moves also in rate sensitive sectors, utilities and reits solidly in the red right now, michelle. yeah, they sure are. i m michelle caruso-cabrera. here s what else is happening at this hour. general motors recalling 4 million vehicles worldwide for software defect that has been linked to at least one death. the white house vowing to hit north korea with new sanctions following a nuclear test. and the house unanimously passing a bill allowing families of 9/11
are a force of nature when they are not. fracking is now responsible for half. current oil production in the unitedte sa its aftereffects are also producing earthquakes. that is our cover story today, and brian sullivan has more. reporter: these day texas gets most of atten in e oil wor northern rival which may be america s most promising oil producer. areas of oklahoma are considered some of the best and lowest-cost oil and gas right now. the area is hot for a few regions. one, it s a relatively new oil and gas place so, two, land prices never really spiraled out of control and, three, to oil people it s just got what they call good rock. a lot of oil and gas that s relatively easy and inexpensive to get to. but there may be one big risk to the region that has little to do with money. earthquakes. pawnee, oklahoma, recently hit by its biggest ever quake exceeding 5.0 this yore and the state has gone from an average of a few a year to more than 100 earthquakes in 2015. many
are a force of nature when they are not. fracking is now responsible for half. current oil production in the unitedte sa its aftereffects are also producing earthquakes. that is our cover story today, and brian sullivan has more. reporter: these day texas gets most of atten in e oil wor northern rival which may be america s most promising oil producer. areas of oklahoma are considered some of the best and lowest-cost oil and right now. the area is hot for a few regions. one, it s a relatively new oil and gas place so, two, land prices never really spiraled out of control and, three, to oil people it s just got what they call good rock. a lot of oil and gas that s relatively easy and inexpensive to get to. but there may be one big risk to the region that has little to do with money. earthquakes. pawnee, oklahoma, recently hit by its biggest ever quake earthquake in the state exceeding 5.0 this yore and the state has gone from an average of a few a year to more than 100 earth
are not. fracking is now responsible for half. current oil production in the unitedte sa its aftereffects are also producing earthquakes. that is our cover story today, and brian sullivan has more. reporter: these day texas gets most of atten in e oil wor northern rival which may be america s most promising oil producer. areas of oklahoma are considered some of the best and lowest-cost oil and gas regions gh the area is hot for a few regions. one, it s a relatively new oil and gas place so, two, land prices never really spiraled out of control and, three, to oil people it s just got what they call good rock. a lot of oil and gas that s relatively easy and inexpensive to get to. but there may be one big risk to the region that has little to do with money. earthquakes. pawnee, oklahoma, recently hit by its biggest ever quake measuring in at 5.8, the second exceeding 5.0 this yore and the state has gone from an average of a few a year to more than 100 earthquakes in 2015. many
and destructive and mostly they are a force of nature when they are not. fracking is now responsible for half. current oil production in the unitedte sa its aftereffects are also producing earthquakes. that is our cover story today, and brian sullivan has more. reporter: these day texas gets most of atten in e oil wor northern rival which may be america s most promising oil producer. areas of oklahoma are considered some of the best and lowest-cost oil and gas regions right now. the area is hotor f a few regions. one, it s a relatively new oil and gas place so, two, land prices never really spiraled out of control and, three, to oil people it s just got what they call good rock. a lot of oil and gas that s relatively easy and inexpensive to get to. but there may be one big risk to the region that has little to do with money. earthquakes. pawnee, oklahoma, recently hit by its biggest ever quake measuring in at 5.8, the second earthquake in the state exceeding 5.0 this yore a