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tv   Boom Bust  RT  October 9, 2021 9:30am-10:01am EDT

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ah, ah this is boom, bustling visits, you can't afford to miss. i'm rachel, glen average board, washington coming up. the ongoing energy crisis has still fiercely united states the nation could soon face the same fate. straight ahead. we bring you expert insight into the looming shortage. plus, equities have rebounded after weeks of uncertainty. we'll pick a spin around the globe to see what's the moving market. then the king of video game streaming services has been hacked. we'll discuss just how much data was leaked from quit and what it means for the platform feeder. we have a lot to cover today. we'll get started. we leave the program with an oil rally to
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finish out the week as west texas intermediate, surpass $80.00 a barrel on friday for the 1st time in nearly 7 years. the ongoing energy crunch in europe and asia has sparked gains across the board for oil, natural gas and coal, as dwindling supplies mixed with increased demand for its part w t. i is seeing a 7th street week in the green marking its longest winning streak since december 2000. and 13 brent crude also saw its future surpass $83.00 a barrel on friday, putting both benchmarks up by more than 60 percent for the year. so how long will this, raley continue? and could we see oil hit $100.00 a barrel by the end of the year, as the energy crunch continues with winter right around the corner with joining us now to discuss is kirk. i was former sure of the permian basin petroleum association. kirk, it's great to have you on the show today. now i know when we look back at this week's rally, it was largely expected as supplies continue to run low. but do you see oil
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actually getting to that 100 dollar mark in the near future? racial personal, thank you for having me today and. and i would have to say you have to listen to opec plus people look as there, as we found out last year during the pandemic, and how much they plotted our markets with oil. they're in control of this market from the day one. now they can put so much more on the market every day, and yet they're not putting it on right now. so our prices are staying high. and that's really one of the stake. and it's interesting because you know, opec many people kind of, when you hear so much about opec, you think their job is to put enough supply in to keep energy prices low. but the reality is opec's just trying to find that perfect balance to see how much will pay for oil while making it sustainable to actually keep producing. now with that in mind, the u. s. energy department has also kind of said, hey, it doesn't look like we're going to tap any of our strategic oil reserves right now
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. why don't you think we're seeing more action on the government level here in the united states to cool off this current rally specifically when the u. s. is so oil dependent. yeah, brent i, i don't understand it either. they tell us not to drill on our american lands, but yet they go to opec and say, could you please put some more on the market when literally last year we probably lost 40000 jobs just in the permian basin, that when the oil price went down, to $37.00 a barrel. so the producers in this country are very wary about putting a moral on the market. and you can't blame them because of what happened to us last year. but the policies that they're very odd right now and we really don't understand it. so everybody's just being very conservative right now. and there's really lance because we have negative $37.00 a barrel a year ago. that was very good year for us. and so the prices are up right now, but we don't know how long they're going to stay up. and what that means for next year, too. again, this going to be bad for this country if they don't allow us to drill for our own
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oil. and that's why why the, i way, please elaborate on that point because, you know, obviously here in the united states we talk so much about the permian basin. we talked about shale. what is happening? why are, i mean, like i know you're saying, we don't really know why they're saying don't drill, but what is the state of oil when it comes to us? well, again, we can supply this nice with as much all as they need and a very clean way were importing. i don't know, crowded snows is 4000000 barrels a day from canada, and it's the dirtiest all in the world. and yet we want to bring that lamb as opposed to letting us drill for the well, as we do in this country in a very environmentally sensitive way, in a very clean way. and you know, to me were a domestic security interest for this country cuz we did r o n e r d. so we need our gasoline to run our plains and our ships and our tanks, if there's any military crosses. ahead and so doesn't make any sense at all for us not to be having our industry produce our own oil,
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as opposed to begging of the countries the priest produce more for us. so done, mikey, system, us even right now, when you're talking about this movement, i mean, tens of thousands of workers being laid off as a result of that. and i know that there are a lot of concerns about whether that demand is going to say or not. but when it comes to just how much the u. s. is producing, do you see enough of the movement to really kind of get the federal government's attention here, or is this just kind of want to stay by state basis now, right. so, so you're seeing again, the permian basin is the best place to draw the world on there, such as the us way to get all of it from us, from the grounds of this country. but yet again, the policies, the 10 in the mexico, you're showing a map right now with the permian basin as new mexico, lot of federal lands and the by the ministrations told us not to drill those federal lands or the gulf of mexico. we're in north dakota or colorado, and so that just leaves texas to drill. so again, people are gonna be putting the money out wall street running away from us because
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of green policies that are getting put out there to invest in people's wells. so it's a very all time for us to and to try to invest in this market. when the government, the u. s. government write down the administration is telling us not to. and it's, it's very worrisome ahead and especially natural gas side that i hope we talk about . so here i was asking you to be a very tight market also. and you see what clean energy has done in britain and asia over the last few weeks. and just tremendous sparks in their process because they don't have a good, sustainable fuel supply like we do here in america. yeah, and i do want to get into that. i know you mentioned the energy trends that we're seeing in europe and asia are their concerns of the u. s. could be next on the list . and is there anything that bind administration can and should be doing right now to prevent it? well, embarrassingly on the texas because we are supposed to be the leaders in the energy industry. but as you all know, we had
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a horrendous snow. my getting us what we called it in february where our solar panels in texas, we got probably the most anywhere in the world windmills, which got more where it went more those. but when it's cloudy, snowy and no wind, that capacity wasn't there. so you could see a scenario where the entire country becomes a no wind. no. so we're type atmosphere and we do not have generation at texas right now to go through that again. i don't think we do in this country for a country. lot of the countries a lot more stable in texas is in that regard because texas on its own grid. and so it exposed lot of problems we have in texas, but it also expose what can happen in this country. and if we, if we win ourselves off natural gas and coal and nuclear power, and we're trying to rely on these renewables is going to be a sad situation for this country. well, and i, i understand your opinion, and obviously i know that you have a vested interest in the oil industry. that's totally understandable. so in your
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opinion, is there a delicate balance we can do of renewables and also using traditional as they're known, fossil fuels your brand, again, our whole policy. i think everybody's policy. we have to have all of the above. we have to have the hydro, this over the nuclear, the wind, everybody has to participate. now the clean energy shift is incredible, but you still are going to have some parts of our industry that run on fuel from oil and gas industry. so again, we need to do it all we need to do. we're clean in the future. i think everybody that wants to be harmless site, but yes, we have to have all of the above in the future. and i think we can do that. but you can't do it by excluding the one gas industry at excellent points to consider here . craig ad worries, we really appreciate your time and as i today appreciate. thank you rachel. thank you, brent. ah,
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global markets are mostly up this week as they rebound from several weeks of decreasing sentiment. we start in russia as the mo, x is up more than 3 percent for the week. as oil and gas prices remain high. as we have talked about during the energy crisis facing europe, russian president vladimir putin said this week, his nation is ready to help stabilize prices. something else to keep an eye out here, the world bank updates forecast for russia's economic growth this year. now projecting expansion of 4.3 percent in 2021. moving to asian markets, the shanghai composite, it's in the green, but friday was the only day this week for training. after markets were closed for the golden week holiday. on friday, the composite gained more than a half of a percent data release friday showed the services sector grew in september, the services purchasing managers index rose to $53.00 for the month from 46.7 in august. of course, as a reminder, anything over 50 shows,
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growth in the sector. moving to hong kong and hung sag is up about one and a half percent for the week. most of those gains came on thursday as tech giants 10 cent alibaba. they were up more than 5.5 and 7 percent respectively. hong kong listed shares in china, chinese, a states which had previously been a major shareholder in property developer. china ever grant was up more than 30 percent after it said it had received an offer to go private positivity surrounding us. china trade talks also help push things up in hong kong in japan. we have our 1st red arrow for the week for the nikkei. the index lost more than 5 percent into tuesdays trade. having lost nearly 10 percent said september highs. global concerns over inflation. the china have a grand debt situation. also wait on the market. in his 1st policy speech on friday, newly minted prime minister meal casita said he will implement a quote new capitalism saying previous policy had caused a quote deep rift between the haves and the have nots. moving over to india,
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the sense sex is up by just over one percent with the nifty index. closing it record highs on friday. the reserve bank of india kept rates unchanged for the 8th straight time, promising to keep rate steady as long as necessary to revive growth. while the market may be up, it is important to know that the energy crunch is taking a toll as several north indian states have based electricity cuts due to a lack of coal, causing some anxiety over the economic recovery. in australia, the assets is in the green up more than one and a half percent for the week. the financial sector did take a hit mid week after the nations banking regulator tightened restrictions and said further action could take place. however, they did recoup some of those losses towards the end of the week. mining stock finished out the week strong as commodity prices search. and in south africa, the all share is up for the week as energy prices rose and concerns about inflation continued, the all share fell mid week. but as global sediment increase to close things out,
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they all share. some saw some gains of nearly 2 percent on thursday alone. something to keep an eye on in south africa, the nation's largest metal workers union started an indefinite strike this week seeking pay raises. so we'll keep an eye on that as well. now let's go over to rachel for europe in the americas. thanks, fran. it's more the same here as we started in the u. k, with the green arrow. 2 for the foot, see the index is out nearly one percent for the week with heavy weight minors and bank stocks leaving the games. however, the bank of england is already warning markets could be improved sharp correction in the near future. if the investors reevaluate the progress that has actually been made during the recovery nearby, the german docs and the french kac ended the week in the green. this, despite both taking a hit on friday, as soaring energy prices, keep inflation. at 13 your highs. the use energy commission is now saying the block has enough gas in storage to walk through the winter, but it is calling on individual states to provide relief to consumers as prices
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continue to rise across the atlantic in brazil, the above us. but is up this despite new report showing annual inflation in the country has hit double digits for the 1st time. and over 5 years, brazil central bank says it believes inflation peak in september has continued supply shortages and rising energy prices combined with the worst trout. the country has seen in nearly a century now over in mexico, the b and b is also in the green. the country central bank raise interest rates for the 3rd consecutive time as report show cor inflation continues to increase having a 4 year high in september. and here in the united states, the down, the nasdaq, and the s m p are all up for the week now with the federal reserve warning, it will begin tapering bon purchases in the near future. the latest jobs report shows the u. s. coming up short for the 2nd month in a row, while the unemployment rate did fall slightly, more than expected,
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the country only added $194000.00 jobs in september, far below estimates of 500000. and finally, it's a little bit of a different story in canada where the t s x is in the green, but the country has gained more jobs and expected time. now for a quick reg, when we come back, amazon's twitch dot tv is grappling with a major data leak that has shown personal info of its content creators straight ahead. we bring you the latest on the lake and what it spells for the streaming giant that's going to break here. the numbers at the close. a
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now and the 21st century. we have a panic buying spree and commodities, commodities. i've had a new all time high, higher than 20 left higher than at any time in history. and yet what's lagging horribly, gold and silver. this commodities boom is being spurred really by oil. oil is to really the new gold is the global goal is to global currencies, the actual dollars that with us since 1971, when the u. s. white from gold to oil, to back its currency. and so j. gould, if you are alive today, he would be co entering the oil market to try this for a commodities panic, trying to get offload is week o. the way of life. so rained is leading
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a traditionally nomadic lifestyle in the tundra is similar to a parallel reality. i'm with women, carry the weight of the household work on their shoulders and show them that he'd new york city club. he's thinking sickness. however, in the vast expanse of russia, there is a spot where a housewife could secure a regular common standard. it's in the final semester, they came with a welcome back amazon own streaming giant, which has been hacked with
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a massive amount of internal data posted anonymously on ford share. included in the information leaked is apparently the entirety of twitches source code, an an exhaustive list of over 10000 streamers. earnings on the platform from august 2019 to october, 2021 along with encrypted passwords. now the data is reportedly available for anyone to download in the form of a 125 gigabyte tort file. it's now discuss our boom bus, cohost bend swan and christy i. now ben, 1st of all, i want to say, i'm not suggesting anybody download that. i'm just saying that it is available. but 1st, let's start with just how a site like twitch, owned by amazon, visited by i assume you know, millions to billions of people. how was it so vulnerable? yeah, i think that's the, that's the big question is around says look at that 120 a gig torrent file that sitting there. i'm not even sure how interesting it would
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be a much a why anyone would download it. it's not like it has credit card information on it that you could steal. it does have payouts of earnings, of, of twitch no gamers, if that interests you and you want to know how much they make, i guess. but here's was really interesting about that. so apparently it was some kind of internal server configuration change that was taking place, which is kind of interesting because it's similar to what happened to facebook when they went down on october 4th. they also had a configuration change for their servers. in facebook's case, it caused the problem for d n s, and they could no longer connect to d n s. in this case, amazon says it gave a 3rd party hacking group access to be able to get into their system. and then download all of this data, it take all of this data it's, it's pretty incredible. it took the entirety, as you said, of twitch dot tv. they were able to get all of it, not a little bit of it, all of it. and so what so interesting about this is there's no explanation as to what specifically was the access point. how were they able to do this?
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simply due to a server configuration change, which is a pretty common practice. how will, how was this 8 of us guarded site? we'll talk more about that in a minute. but how was an, a w s, guarded site so susceptible to hackers? it's actually pretty embarrassing for amazon and incredibly concerning all around, especially amazon is involved. now, christy, what all do we know about this hacker group called anarchy? well, not much and explicit detail or also wouldn't be so fascinating. it's essentially a captive ism group. as in internet activism. they use these hats in order to garner attention as a form of civil disobedience and or to promote a political agenda or social change. and i mean the roots of hacker culture and hacker as 6 are often related to free speech human rights or freedom of information movements. so this leak was literally intended to create a public statement and to create chaos. not out of greed are distortion like ransomware. so that's exactly what this is. the hacker blamed amazon's could bead
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and twitches sites toxic culture, and stated that the league was intended to foster more disruption and competition in the online video streaming space. essentially by posting the source code for the world to see the hacker, basically as mocking bay. so saying that base those paid $970000000.00 for this. and now he's giving it away for free. and here's why everything gets really interesting. this month we've seen facebook go down, has been just mentioned sign a verse, which is the largest company that routes as some mess for all u. s. carriers was hack leaking const, customer tex, than we had the pandora papers. and now this twitch hack. and ironically, october supposed to be cybersecurity awareness month. i heard that is truly ironic . now ben, as you mentioned vague, seemed to have gotten all of it when it came to to it. yet this league has been labeled part one, suggesting that there could be more to come. so what do you think that means what else might come out of it and should we be expecting a part to in the near future?
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but we certainly might see it again. i don't think the details of what was taken or so interesting here. it's not like the sony has a few years ago if you remember that, which actually had a lot of very interesting information in it. i don't think this has as much an interesting information, but it does stand out though, in terms of a ws. so here's the other, i think very important point. 8 of us as amazon web services controls of all 40 percent of the hire cloud networks around the world. they are the single largest cloud storage provider, anywhere they dwarf microsoft, they dwarf oracle, they dwarf google. 8 of us is the premier, if you will cloud storage site in the world. and yet not only was one of a ws, his own properties, one of amazon's own properties hack. but the fact that the hackers were able to essentially take whatever they wanted to take the fact that they were able to actually troll twitch dot tv and start posting images of jeff bezos. there took to christian point, a lot of it was mockery. it wasn't about necessarily getting away with some,
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you know, valuable content. it was about showing how weak 8 of us is and how weak amazon is. and i said, think of anything else. companies around the world that are putting their trust in, in a ws, simply because a ws really does a massive amount of advertising and has big corporate clients shouldn't necessarily see 8 of us as secure simply because they can spend a lot of money to tell you how great they are, and christy to that point, how does a hack like this impact amazon overall as a company? i mean, amazon's already affected saying as an asset that they paid nearly a $1000000000.00 for has now been given away for free. i mean, the source code has now been revealed to the likes of youtube and discord, and only fans and other streaming competitors who, of course, will eventually use this against which. and then on top of that, hackers also include the details of an unreleased product from the amazon game studios. and this can have major repercussions for amazon shareholders. and as been mentioned, amazon secures the data of millions of americans and serves millions of businesses that rely on their 8 of yes services. so the hacker can lift all the information
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from one of amazon subsidiaries. what's to stop them from hacking into the us in the future. and, and that's it. as a ploy, the kristi just made because as been mentioned, it seems like it's not that interesting. it's source code, but the reality is video game streaming has become hugely popular in the pandemic. it grew only bigger. and the fact is, is that websites like you to face, but they're still really trying to catch up with the way twitch does it. there's still the superior brand, if you're one of those people who watches video games. so christy and i have maybe a minute left, but legally wind source code like this is released. can another company come in and implement portions of it without getting caught? if they're trying to improve their service. absolutely, i mean at this time it is public data. so when things are posted on to public, there's absolutely nothing to stop a competitor from then using it and then serving their own purposes and serving their own benefits. and to bend point,
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this is actually very similar because while twitch is now blaming this on a data exposure on a server configuration change that was subsequently accessed. this is actually very similar language to the facebook hack and facebook currently denies that. so it makes us wonder if facebook is currently hiding anything else. and if this scachar could have potentially lifted anything from the facebook breach potential brain, very, very, very interesting stuff, boom bus, spend, swan and christie. i thank you so much for following the story for us. thank you. and finally, while the world of an f t's is growing, there will of course be some bad actors in this space. this is where project titled evolved apes comes in, evolve the apes is a collection of 10000 unique and i tease available for purchase on the open sea marketplace. according to an anonymous developer. each 8th is meant to be a character in a fighting game, where owners pit their apes against each other in
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a contest for rewards in a theory yet. but here's the rub. now according to a report from vice a week after it went live, the developer disappeared. tell you about $2700000.00 worth of a theory. i'm with them. the project was supposed to be funded through the sale of that f t. s. and backers started to become suspicious back in september when community patient became few and far between from those developers. it was also later reported that the artist behind the apes hadn't been fully compensated for their work. and winners of a social media contest had not been given there and f t prizes. now, rachel, it seems kind of like a weird situation because when it's an out of tea, it's just a digital piece of art that's out there. so i understand not finishing the game if you're trying to scam these people, but you didn't even give them the apes. right? no kidding. i mean, they didn't even get that part of this sounds like a really actually fascinating concept, but it does kind of show that you got to watch yourself whenever it comes to,
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you know, these new found technologies that are getting out there. that sound really cool. but, and we, we could of course, put this all in the block chain at f t court. but if you remember, when kickstarter became very, very popular. there were a lot of those where we're assuming that they tried to complete the process and finished their product. but in the end, maybe did it, and i'm sure there were some bad actors. there's a lot of that process to getting to the whole new ape game, then maybe we'll see one of these. and that's it for this time. you can catch boom bust on demand on the portable tv app available on smartphones and tablets through google play in the apple app store by searching for portable tv. credible tv can also be downloaded on samsung, smart tvs and roku devices, or simply check it out affordable dot tv. we'll see you next time. mm hm. mm. and i make no certainly no borders. i'm just like to tease
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and new fresh as a merge with vaccine. whole world needs to take action and be ready. people are judgment, common crisis with we can do better, we should be doing better o everyone is contributing each in their own way. but we also know that this crisis will not go on forever. the challenge is great. the response has been mess. so many good people are helping us. it makes us feel very proud that we are in it together with these are the 4 people who pull the trigger and survive something on survival, one into harness, things that i had to face was not having
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a face. i had a low expectation, a life. i accepted that i accept the fact that i made that it's where we had no fears. dow changed pre fashion 4 shots, different stories behind the bullets. ah, but years ago did taliban were different today or more violent than ever before? 20 years ago. the really kind of to stick with central press for so pop pop today did i have none of principal at all except a deal with this principal can, has their own interest. but years ago, there was some sort of kind of dialogue with the others to see what they can do today. they are so kind of restrict your limits. if you check your chicken gun cabinet from one existing call question and from from inside question, don't just completely concentrated on west sculpus. we'll talk about it. but
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it was the most basic, but i still believe we did. who bought i bought off the dial tomorrow, a couple of review on your quote, but i know from politicians to athletes and movies. does the musicals does it seems every big name in the world has been here last year? hope of miss you can check out this goes to school. i see a budget when you get the call for anything unusual booklet does not give me a glass. miss port back niece. she said basil makes dreams come. the every one who falls in love with people threatening luc latham
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mm. with a headline stories this our, the prime minister of molly accuses french forces of training terrorist groups in the north of the country. he's on the army. so anthony, there arms groups trained by french offices. we have evidence of that. and this is the situation we are currently witnessing the molly and we don't understand it and we can't tolerated also ahead us lawmakers, the man sanctions and rushes nord stream to pipeline. blaming moscow for a price storage on europe's gas market. last, despite the market retreating from an all time record after president put his pledge to boost supplies and the world held. organize.


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