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Livingstone, Deputy Director in our Global Energy center where i need to work on climate and advanced energy. Thank you very much for joining us here today. Its a terrific to see a full room, particularly amid the dark days of august when so many folks in dc leave for cooler or at the very least, less humid climates. It is surely a traffic registration of interest in this topic and before we get started let me give a big thanks to zach strauss and are Global Energy and art interns who are instruments and making today happen along with our talented medications and events team. They are truly a testament to the assets and professionalism of the Atlantic Council. Dive in to todays discussion by noting that not only are you here because youre fascinated by the narrativ ....
From our studios in new york, this is charlie rose. We begin tonight with global oil. Oil prices have plunged to their lowest level in five years. Earlier today, crude oil fell below 65 a barrel. Opecs decision last week to not cut output continues to shake market through the weekend. New data also confirmed a slowdown in Manufacturing Activity in europe and china. Joining me now from washington, Daniel Yergin is a leading Energy Scholar and author of the quest energy, security, and the remaking of the modern world. Dan, thank you for doing this. What is going on . What is going on is a redefinition of the world oil market, where the most important thing that is happening has been this extraordinary growth in u. S. Oil production and output, combined with what you just described, which is a weakening of the world ....
From our studios in new york, this is charlie rose. We begin tonight with global oil. Oil prices have plunged to their lowest level in five years. Earlier today, crude oil fell below 65 a barrel. Decision last week to not cut output continue to shake market through the weekend. New data also confirmed a slowdown in Manufacturing Activity in europe and china. Yergin is a leading Energy Scholar and author of the quest. Dan, thank you for doing this. What is going on . A what is going on is redefinition of the world oil market, where the most important thing that is happening has been this extraordinary growth in u. S. Oil production and output, combined with what you just described, which is a weakening of the world economy, which has become apparent in the last few months. Wasof the blue, lydia suddenly putting quadruple the amount on the market. All those things toget ....