This will feed through to the u.s. economy. it is good news for consumers at the pump, but dislocation for oil producers for dakotas and oklahoma and texas and the giants like exxon mobile and chevron. they will struggle with this. it is almost a perfect storm. demand is falling from china and japan and the production is rising. u.s. shale producers, that count is going down, but production is not. saudi arabia is fighting for market share in the middle east along with russia. three giant producers and nobody is cutting production. at the same time demand is falling. expect prices to go lower here in the second half of 2015. citigroup is suggesting we could get to $33 a barrel before the end of 2015. amazing to hear that price. let me ask you this, a wild card in this is opec. what are the chances that opec could cut production and throw a wrench in the oil prices? reporter: good question. i spoke to a number of associ e
Will be the warmest year. 14 of the last 15 years the warmest on record. the air temperatures have plateaued. there is some truth to that. but the warmth is going into the oceans. we are conducting an experiment on the world s ocean. and as a meteorologist i m seeing the symptoms of a warmer wetter, more volatile climate. just like if someone is running a fever of a couple of degrees you see the symptoms on that person. they are running a fever. maybe they have a rash or blister and are sneezing. you say what s two degrees? well, two degrees can be a big deal and we re going to see more of those symptoms during 2015. amazing. more jaw dropping examples of weather extremes is in the pipeline for this year. yeah. dr. halter it all revolves around the oceans and the great lakes.