but if you think a bit what would be a great strategy for them is to have prices stay around seventy bucks and then when they go to the i.p.o. then have really an increase in oil prices along with the i.p.o. but given that we have you know the says that we the u.s. going to produce ten point six million barrels of oil per day this year about the same as saudi arabia and we may even overtake russia by two thousand and twenty three do you think that any cuts will ultimately just be out produced by the u.s. absolutely number two number two will produce are right now in the world as us we've got canada coming up brazil so the non opec producers are absolutely going to make up for that what's interesting though is that glut narrative is absolutely off the table even with the u.s. at absolute almost because coal historic production levels at the moment we haven't seen these production levels since the seventy's so i think that with the glut
narrative out of the way the idea that we're going to see higher demand in the next three to five years the u.s. being the number two produced in the world set to actually overtake the saudis within about three to five years as well that's where this news becomes very interesting and i think a lot of that is going to be taken you know with whatever opec may take off line whatever we might lose to sanctions with iran to sanctions with venezuela the u.s. is obsolete and to keep up with that rosy let me just ask you real quickly we're running out of time but do you think the saudis have some sort of grand strategy about sort of you know co-opting people around the country whether the run the world rather the u.s. or russia they announced this thirty billion dollar infusion into port arthur texas into that refinery do they have some grander strategy with the ram cohen everything else going on there. that's an excellent question i think saudi's problems are much larger than even right now people are talking about because when you look at the
market share they're losing to their largest you know accounts think of china and think of india and the increased we're seeing russia supply india we're seeing russia supply china same with iran saudis problems are far larger than the shale drillers here in the u.s. but when you add the market share they're losing to china and india along with the output in the u.s. they've got a huge one two punch that they're dealing with and so far i don't think their grand plan of driving prices lower to keep shell off line is working because the shale prices when you look at two thousand and thirteen to twenty say eighteen now it's cut in half the cost the shell producers are having to bear in fact they're going to be profitable for the first time ever so the saudis have plenty of struggles ahead we'd love to have you back with just barely scratched the surface but we're going to drill down deeper futures and currency expert at simpler trading corner thank you for your time. thank you. time now for a quick break but hang here because when we return we'll look at the trumpet
ministrations new sanctions that we mentioned earlier outlaw that we are going to actually talk with todd shipley that's what we're going to do get ourselves right here and we're going to talk to him about artificial intelligence and the defense sector the pentagon is seeking out some relations with silicon valley as we go to break here the numbers at the closing bell facebook's trouble with data protection drag their stock down as much as eight percent earlier today and the broader tech sector was weaker as well red arrows across the board for stocks now closes twenty four six eleventh's oil sixty two twenty nine and fifty point eighty three eighty one as we went to air. join me every thursday on the alec simon chill and i'll be speaking to guests of
the world of politics small business i'm show business i'll see you then. apply for many clubs over the years so i know the game and so i got. football isn't only about what happens on the pitch to the final school it's about the passion from the fans it's the age of the super money billionaire owners spend spend each religion twenty million one player. it's an experience like no one else want to because i want to share what i think what i know about the beautiful game but great so will bowl chance with. the base is going to. american mess one is the melting pot and the second is the raise your knowledge or
a mess of bootstrapping anyone can see that america works are so this is a whole group of people all generation and america is saying that there is no melting pot we're not being assimilated there's no opportunities we can't live up so their response essentially is to go into conflict and this is a measure of. the most expensive fish in the world each one selling for the tens of thousands of euros it continues to grow its entire life if it was thirty years old you might have a two ton fish out there and yet they don't get that big today because we're way too good at catching. it's only women themselves a much larger mission was once there was much more what i mean just to put we have politicians that are in office for a few years they have to get reelected everything is very very short term our system is not suited and is not geared for long term survival and that's why we have the catastrophes.
this is a busy week for the u.s. government as lawmakers will have to take legislative action to prevent yet another government shutdown when spending authority expires this coming friday the twenty third of march while neither side is eager for another shutdown congress must decide still whether it or how to address differences that include spending on military infrastructure as well as those dhaka dreamers that program that granted status now uncertain to immigrant miners on the issue of opioids earlier today u.s. president donald trump unveiled a plan to combat the opioid academic the plan aims to reduce prescriptions by one third over three years and also calls for reducing the threshold for. opioid criminals to be eligible for the actual death penalty mr trump also asked for congress to allow medicaid funding to be used for residential treatment for opioid
addiction and in related news federal prosecutors in new york charged five doctors with accepting bribes from insists therapeutics in exchange for writing more opioid prescriptions than were called for the indictment in the southern district of new york says the doctors were paid to prescribe a nasal spray application of the drug subsystem which is said to be fifty to one hundred times more potent than morphine. the chinese parliament has chosen a new chair of the central bank u.s. educated economist yang prior to his new role mr yeast served as deputy governor of the people's bank of china since two thousand and eight his appointment is expected to continue reforms to the chinese economy supported by president xi jinping the chinese central bank is not independent from the government or the chinese communist party like many central banks such as the u.s. federal reserve the european central bank or the bank of england. and
mexico's former first lady has thrown her hat into the presidential ring lawyer margarita zavala the wife of former president and ricky calderon was certified as a candidate on friday after electoral forty says she's filed the needed number of signatures savalas husband was selected as the nominee of the conservative national action party or pan but the follow will run as an independent challenging the pan's nominee ricardo annika who is currently running second in polls behind leftist andres manual lopez obrador are. as most of us know the trump administration released a budget plan earlier in the week it calls for an increase in defense spending of one hundred ninety five billion with a b dollars over the next two years how are defense dollars being spent in the united states we turn to former senior pentagon official michael maloof for the
answers michael thank you for being here where does the billions and billions and trillions as we spoke about in the past where's the money go it's going to be going to some of the largest defense contractors we have and part of it and i think it's all linked in with the need to create more jobs and these industries such as raytheon boeing and we can go through a whole little hit me with a just one where when you talk about defense contractors so you've talked about raytheon and what i'd always there's lockheed martin boeing even be a east systems raytheon general dynamics northrup grumman they're making our new supermom or us. and and on and on it's three is another one that they are they are all over this town for the for the for the people who don't know if you go really within ten minutes of here just across the river into arlington virginia is bowing
and they are walking distance and not a theoretical walking distance they are walking distance to the pentagon and if you go right down three ninety five maybe two miles from here there is the lockheed martin building and they are maybe not walking distance because there's an expressway but they are within a mile of a u.s. capitol so the defense industrial complexes looms large in this town and given what we've seen in this increasingly complex world you don't see these budgets going down any time soon. they were down for a time i think they're going to be going back up and i have a suspicion that that's why the secretary of defense matters decided and trump decided that in order to create more jobs for example we just did that hundred billion dollar deal with the saudis that's for aircraft that's for arms and i mean it's going to not only for our own defense purposes but that money is going to be
coming in from outside sources in order to help fund all of these and then export everything and it's going to be monumental and you got to keep in mind these companies as you point out are every every where they've got even the services that once their pet rock projects are up on the capitol hill they are a lobby and believe it or not they're pushing their their agendas their programs in addition to the companies themselves it's going to be it's going to be even more robust now that. madis has and trump have increased the defense budget and and you've got to tie that into also with the call by trump now to to improve upon nuclear weapons to improve to have a more strategic approach and that's what the big companies do they do more of the strategic weapons systems and that's what they're going to be needing i want to let our viewers in on a little secret i'm not sure it's a dirty little secret but it's a secret about how work gets done in here and maybe you can comment upon it work
gets done and. in washington is that so you have a defense contractor who may make something and i don't want to pick out an individual company or a byproduct but say they make you know cool glasses that can see around corners or something well they'll have one part made and somebody is congressional district in another part made in maybe another state and they do that for what reason michael well every major defense contractor think strategically themselves they'll put some component of some kind that comes into for example like the f. . thirty five you have to the plane that cost how much it's up it's going to be a trillion dollars by the time they get done and there have been all kinds of technological problems with it and they still haven't ironed out all the bugs it was a big donald douglas no that's lockheed martin lucky martin ok lockheed martin the and i already said i wasn't really doing it united technologies makes their engines and so they're they'll put components companies that supply the components and
every state of the of the union in order to make sure that their congressional district has something there so that when they come in for funding the pressure is on congress to allow that money to go through and so it's going to be there's going to be a rise of that we're going to see an increase of that and it could be a whole myriad of systems and these companies rely very heavily on defense dollars for for their for their income. lockheed martin. boeing they were upwards of over fifty percent reliance on government contracts g.e. hundred forty percent really yes oh my gosh if so so is a very high depending upon the companies and they have outlets in every state of the union in order to gain that couldn't get in order to get that congressional business of washington folks for better or worse lot of times it's worse but it does keep our nation strong. now michael let me ask you you know back in the day we
all heard about the four hundred dollar hammers and the waste fraud and abuse has that gotten under control through the inspector generals and another mechanisms that d.-o. diers are still problems i think there are still problems the problem that we've been seeing is that there has been no auditing that's been going on with how defense monies are being spent i think one point eight billion disappeared nobody knows where it went recently it's and nobody is expressing alarms over where that money is going. but there was a rush to increase the budget no accountability and a lot of this has to do with the pyramid process you have you also have contingency funds that these funds will flow into in order to in order for the congress when they go up on every quarter to ask for supplementals. well they haven't had a budget in two years so now this is going to increase with these supplementals and you're going to see that go skyrocketing last question michael i remember years ago
two thousand after the supreme court decision and george w. bush was was the president my wife and i said boy this is a probably a time to invest in defense stocks and it turned out that would have been a pretty good gamble or similar point in history i know you're not an economist or market analysis and analyst i'm not asking to do that but are we to a similar time in history where now would probably be a good time to invest in defense stocks and defense companies i would say common sense would dictate that now that you have a two year budget ahead and that the the basis for increasing that budget has now been laid out it's probably there's probably going to be even more appropriated for it and that's going to affect every district in the united states every congressional district in the united states and that means jobs you bet it's going to mean it's going to mean something and and believe me it's actually going to be
on the rise very significantly and that that type of spending. former senior pentagon official defense stock picker no i'm sorry michael maloof thank you for your time appreciate you being here. and before we go d.h.l. the german delivery service which efford then retreated from its expressed delivery service to the united states back in two thousand and eight is planning to try it again this time they will begin with same day delivery service in chicago new york and los angeles the plan is to then expand to dallas atlanta san francisco. and right here in washington d.c. as a note you may recall the last time we had boom bust left d.h.l. there delivery failure of food to kentucky fried chicken locations in the u.k. had closed hundreds of stores those stores were all back open but d.h.l. lost much of the new delivery contract to roughly three hundred fifty k.f.c. outlets in the u.k. the k.f.c.
contract has gone back to bidvest the original delivery company that said we want competition we don't like monopolies here in the u.s. so good luck to d.h.l. in the u.s. competing with u.p.s. united parcel service and federal express you we hope will do delivery right and as they say with k.f.c. we hope you do it so good for watching be sure to catch boom bust on youtube youtube dot com slash boom bust r t catch you next time. well you know they were kind of adopted because we were called pirates so long. been there in the small ball and sticks it on our pollution and you.
know little souls to be told these already ninety percent of the dart gun and it won't because they're. going to fifteen school seventy five tons when they do it several times a day with the cleats oh you get an idea. we have to understand we can still use to just. be within this he does feel for you. i'm doing this because. i want the future world to the future generations to have and enjoy the ocean we have. how does it feel to be a sheriff the greatest job in the world it's as close to being
a king as any job there is one business model helps to run a prison now we just do or don't like is there no radio visitation i don't know one comes anymore we don't have to serve them anymore is cost effective that's what they want to do that knowing they don't give a damn if you do the chores or not they're actually paying us to put it back into the louisiana incarceration rate is twice as high as the u.s.n. breach what secret is behind such success. that a. good.
twenty three russian diplomats have left the united kingdom as punishment for moscow's alleged involvement in the poisoning of a former spy in britain and russia insists though it had nothing to do with the attack. the saudi crown prince and president trump are meeting in washington the u.s. leaders already made a weapon sales pitch to get. your abuser very wealthy nation and we're going to give the united states some of them well. and also the hash tag delete facebook has been trending as people express their anger over revelations about the social network's harvesting of use the data.
given to you my name is neil harvey this is r.t. international. twenty three russian diplomats expelled by london have now left the u.k. on a plane bound for moscow on reports from london on the latest in the standoff between russia and great britain. it's twenty three diplomats and their families so close to one hundred people who were waved off by the remaining embassy staff in the u.k. they boarded a russian government plane bound from mosco and the russian ambassador to the u.k. alexander you can vent he is school them to the airport this is what he had to say take a listen we've been through diplomats means forty percent reduction. and that's the world to see this was the. major problem for us you know all these. years that we don't have the you need.
presented to us and for the time being you know we don't hear when you. live diplomatic expulsions are all part of this for all out between the u.k. and russia following the poisoning of sergei script and his daughter and souls very over a couple of weeks ago now in the kremlin responded on saturday with a list of twenty three british diplomats who were being expelled from moscow that's yet to happen the kremlin has also announced the closure of the british consulate in st petersburg i'm a closure of the british council which is sort of the cultural offshoot of the british embassy in russia so you tit for tat measures and to resume a mess we have a national security council today there is action being taken at the border to mourners here and track people whose activity threatens the security of the u.k. and its allies she's saying there's work by international inspectors to get samples of the nerve agent to go in and the prime minister's looking forward to more talks
with the states on the spy poisoning later on this week so she's really reinforced what was unveiled last week in the meantime the investigation into what actually took place how that nerve agent was administered that is still ongoing and is being handled by london's anti terror police unit their latest statement says that this is an. investigation that's set to last for many months to come and on top of that investigators from the hague from the organization for the prohibition of chemical weapons they have arrived in the u.k. this week they're collecting samples of the nerve agent used from the lab that's handling it here as part of an independent investigation into what happened and the results of that are expected to take at least two weeks. i'm joined on the line by david davids the leader of you keep in scotland is also an m.e.p. for the party great to have you on david we heard some of the details of the the
organization for the prohibition of chemical weapons or because acting samples is an independent probe expected to take several weeks for the experts they need time to ascertain the facts and only blown u.k. needed a day how can the u.k. be so certain that russia is the blind. what i'm afraid i'm not privy to any of that afraid that something for the home office for the police and also for in the foreign office a really i can't give you very much detail on that because i'm simply not privy to it but obviously we have to make i have a solution to this kind of people being you know being poisoned here there everywhere if you have been poisoned but you know that we don't nor what's going on and we have to get to the bottom of it. and i think that's the crux of it is one of those situations where you know evidence or lack of evidence is causing a problem is no real proof being put out into the public domain at this point nonetheless france and germany have called on russia to prove its innocence that
this is an unusual situation the burden of proof in being switched to the accused party proving a negative as a result of who is here how do you feel about that approving of proving a negative as well proving a negative is difficult but i mean you know obviously they have to sort this out i think a few people should get their heads together in russia and in europe and in britain sit down and sort this out i mean they're obviously something's happened they didn't die of natural causes or die but you know they're going to get poisoned by that which will cause us something there has to be sorted out and you know people cannot. just weave this away something we have to look into. i was surprised to hear this jungle juncker one of the few top european figures to congratulate on these reelection there is no mention of the script case as i understand it's been heavily criticised for that by some pays why such a negative reaction. wow in john claude you i suppose he has
a duty to preserve the good through the motions i mean i don't know how you know my she he he meant what he said i mean he has to say a lot of things but it struck funny that in the past he was so critical of russia. and the mr putin but now he's congratulating him. it's beyond me. what about donald trump does this surprise you because. world leaders really cuing up the probably a little wary been associated with the idea and in the current political climate but did congratulate putin only today he waited why do you think the do learn. well i think he has to do business with mr putin as does john called you care as does mrs may we have a long term. a long term requirement to do business with russia vladimir putin is elected by the russian people whether people agree that was the entirely
fair or not is another matter but in terms of russia russia has always had a problem in the past with democracy i think it's changing it's trying to become more democratic obviously it's not simple you know country that previously we had had stalin various other people who are not exactly democrats be running the country is not entirely simple it's not sussex it's not sound german only you know russia is russia russia is changing and russia is i think in many ways trying to do the best to become more democratic berthing obviously there are problems but hardly surprising david appreciate your time you keep an e.p. david coburn my guest thank you. now in other news a meeting between the saudi crown prince and donald trump's currently underway in washington but before the closed door conversations could take place president trump welcomed the saudi prince into the oval office the leader got straight down
to business as well giving a small presentation on u.s. weapons to his guest. five hundred thirty three million dollars five hundred twenty. million dollars that spirit that you. saw in your abuser a very wealthy nation and we're going to give the united states some of that well. are to smear a can has more now on the visit of the saudi crown prince to washington. well there's been a whole lot of criticism in the u.s. over the saudi princes this it as well as the saudi assault on yemen just yesterday there was a rally held in front of congress protesting the latter but first some background more than ten thousand people have been killed since the beginning of the conflict back in two thousand and fifteen and a saudi imposed a blockade has left the country at the brink of famine and the u.n. has deemed it the world's worst humanitarian crisis.
there. and now even though there's been a public condemnation over it the u.s. has been supporting the campaign and they've been providing arms just last year donald trump signed a one hundred and ten billion dollars arms deal with the saudis one of the biggest in history and reportedly the u.s. is hoping to make more profitable deals with the country now there are some voices in the senate that oppose it and they've put forth a bill that would end the u.s. support to the saudis and that is set to be voted on tuesday and the senate has
even grilled the u.s. centcom over the use of american weapons but the pentagon doesn't seem to have that many answers. tom track the purpose of the missions that it is refueling what targets it strikes and the results of the mission senator we did not ok and apparently russia will also be on the agenda when trump meets with the saudi prince senior u.s. officials say president trump and the hum. i've been someone will look for ways to make russia pay a price for its aggressions now the kremlin has responded expressing regret over the demonization of russia but with all the protests and the senate vote that's coming up it doesn't seem that the meeting will go as planned or as smoothly as trump would have hoped as we mentioned the future of the iranian nuclear deal is expected to be a key point of discussion at the meeting between the prince and trump in.