Crisis. I think its a good thing for us, you know, this quarantine, all of us not working. Reporter but its not good for marathon petroleum, as it announced its shutting down its massive martinez refinery, a process that takes about a week. The company said its grant to shut down on sunday because of a 60 drop in demand for gasoline brought on by the coronavirus, and californias shelter in place order. This is are a really unprecedented event that the refineries, i think, are scrambling to respond to. Reporter uc burke berkeley studies the industry and called marathon a major producer. It can process 161,000 barrels of crude oil per day and employees about 740 people. But with wholesale prices dropping, it no longer makes economic sense to keep the refinery running. Theres just way too much gasoline being produced, and the refineries have no place to put it. So somebody was going to have to stop producing, and it looks like the marathon refinery is the first one in the bay area to actu
Students. Abc 7 News Reporter Lisa Amin Gulezian joins us live from berkeley. Talk about a mess. Have you seen any of the damage . Reporter dion, theres a lot of mud and water on the ground. Students are starting to return home. Take a look over my shoulder. That yellow building, that one is stern hall. One of the hallways has been damaged. A brunt of the damage is to this ilding to my right. It all started when this red car smashed into a fire hydrant on avenue. The tow truck operator said the driver had been arrested, a suspected drunk driver. A car ran into the hose, the emergency fire hose outlet. I think it broke the hydrant, shooting out water like anything. Its just dumping a lot of water onto the street. Reporter gallons and gallons of water rushed downhill and directly into stern hall and foothill. At foothill, students living in buildings 4 through 9 got a text telling them to evacuate. My building was completely dry, so i didnt think i would have to left. When i left the bui
Buy in the space how can that be . Well tell you as power lunch begins right now and welcome to power lunch. Im melissa lee. Stocks taking a breather today after yesterdays more than 1 gains, all three of the major indices are lower with the s p and dow on track to snap the threeday rally since last weeks big drop. Fractional losses across the board. Check out the transports theyre sinking further into correction territory American Airlines, the biggest drag there that stock is now down 16 for the month of august. Well have much more on that move later on. Ty we begin at the white house President Trump to meet with the president of romania while the economy is front and center for the president and the administration and eamon javers has the story for us now thats right. Were going to see the president of the United States in the oval office here in just a short time the president will have the opportunity to talk about the end of the 30th anniversary of the end of communism in romania
Actually, its worth. Carter worth because the chartmaster was spot on with his bold bond call earlier this year and youll never believe where he says they are headed next hell explain. Its time to risk less and make more the action begin and we start right there with the bond bombshell rocking the markets this week. Theyearold on the u. S. Tenyear yield sinking to 2. 7 in 2017 as the s p closed out the longest weekly losing streak in five years and the rate shock coming as no surprise to carter worth who actually called for it earlier this year. Ultimately, i think that after toying with these tops and ever so slightly breaking out and pivoting down that we are going to make our way higher i like tlt on the long side here and i think this is a good bet im in the camp that yields are going as low as 2. 1 on the tenyear prescient call, carter is at the plasma breaking it down. I think we have 2. 12 today. So we are effectively there and there is a slight unfilled gap down 2. 07, but tact
some 2.2 million people movedas to the southeast in just over two years. that s roughly the population of houstonroughly . and according to a new report in bloomberg, six fast growing states in the south have now added more to the national gdp than the northeast. states those six states florida, texas, georgia and the carolina, fls and tennessee, arn the middle of a $100 billion min wealth migration as the us economithc center moves sout. according to the irs. ds $100 while the south adds $100 billion in wealth, the northeast has lostlth, 60 billion. president joe biden spent today in south carolina celebrating his green energy and money printing approach to politiccelt and economics. and he says this is why theroeda is growth in the south. am i made a commitment and i d be president for all americans, whether their election officials voted foed officir or wherever you voted, visionary or not, i kept my promise. in fact, some analysis has said that as long as i ve seen you do