Existing fan on gas and oil leasing and republicans and democratic senator john manchin voted in favor of the bill while the rest of the committees democrats voted against it. Alaskas senator Lisa Murkowski chairs the committee. [inaudible conversations] good morning everyone. The committee will come to order. Before we begin this mornings marked up i would like to send a special welcome to some of the folks that are here this morning, there come a long way. Several alaskans have flown down from the north slope to be with us. Recognizing that this is their home. I think it is important that they are here with us today so we welcome them. I would also like to add just a farewell at the same time that we acknowledge a welcome. I do not see angela but she is over there. Angela who has been staff director i understand is moving back to the west coast. And this is perhaps your last day on the committee or last week on committee and i just, i want to acknowledge the work that you have done.
Folks that are here this morning. I have come a long way. Several alaskans have flown down from the north slope to be with us. Recognizing that this is their home, i think its important that theyre here with us today, so we welcome them. I would also like to add just a farewell at the same time that we acknowledge the welcome. We dont see angela shes over there, but angela who is been senator cantwell staff director, i understand is moving back to the west coast, and that this is perhaps your last day on the committee, or last week on the committee. I just, i want to acknowledge the work that you have done. I think that certainly the staffs on our site have enjoyed the working relationship that we have had with you through some interesting and challenging issues, and your leadership has been greatly appreciated. So know that were going to miss you, so thank you. [applause] so lets get to work. We are here to mark up legislation to allow responsible Energy Development in a small portion
This is just over three hours. Good morning, everyone. The committee will come to order. Before we begin this mornings markup, id like to extend a special welcome to some of the folks that are here this morning. They have come a long way. Several of alaskans have flown down are the north slope to be with us recognizing that this is their home. I think its important that they are here with us today. We welcome them. Id also like to add, just a farewell at the same time that we acknowledge a welcome. I dont see angela heres over there. But Angela Becker editman who has been senator cantwells staff director, i understand, is moving back to the west kocoast. And that this is perhaps your last day on the committee or last week on the committee. And i just i want to acknowledge the work that you have done. I think that, certainly, the staffs on our side have enjoyed the working relationship that we have had with you through some interesting and challenging issues and your leadership has been
Beating Goldman Sachs. Coming in atates 1. 5 billion. R. O. E. Over 9 . There with us to discuss is Alison Williams of Bloomberg Intelligence. Your take on the earnings . Too few things . Wealthover 9 and their margin coming in at 25 . We saw that strength at bank of america, we saw strength at wells fargo which was a precursor but those are key metrics. They focus on that r. O. E. And the margin is one of the goals they focus on to get there. Fixed debt in line, the banking fee is something we have seen. Alix what have we learned about Morgan Stanley on Goldman Sachs . Is it all about commodities . It is more execution. Alison it to be a little bit of both. Every quarter is going to be different in terms of where the strength of the overall business is and depending on where the strength in the industry is, that is going to impact who is doing better. And of it is just business product but goldman also says for a Second Quarter in a row they did not navigate markets well. That is what
Time, and this is going to create tremendous value for our customers and, really, our investors. This is a good deal for investors. Speaking of timing, martin, it has been a challenging one for your industry. Oil services hundreds of thousands of layoffs. Where does that leave the industry . Are the layoffs done, and is there a sense that youre on the brink of a recovery . You know, sarah, we all hope that the layoffs are done. As ive said over and over again, thats the most difficult thing about this industry. That all said, you know, when you have these two great franchises coming together as lorenzo talked to the synergies and the example that we gave on the investor call this morning, so much of it is going to come out of product redesign and bringing that engineering expertise to play. Being able to leverage a much bigger spend, you know, in excess of 20 billion annually into the marketplace in terms of our combined supply chains, these are the efficiencies that will come and get