tv Real Money With Ali Velshi Al Jazeera December 15, 2014 6:30am-7:01am EST
to supermarkets for pennies, and customers were little more, putting food on plates and smiles on faces. more news on the website aljazeera.com. the latest on the sydney cafe siege, which is now in its 14th hour. hour. consumers are loving the cheap oil prices, but the u.s. fracking boom is in danger of coming to a halt. the dirty truth about cheaper oil. what is next about police shooting - a civil suit against the city - we look at the cost. >> forget about mars, companies are racing to get to the moon. not for the reason you think. >> i'm david shuster in for ali velshi, and this is "real money".
consumers rejoice, oil prices are lower than they have been in years. the main reason is lower supply and decreasing demand. economies in europe and asia putting the breaks on growth. at the same time america's fracking boom adding to the supply. you can't talk about oil without talking about saudi arabia. the one party that can swing prices upwards. saudis can keep prices flow ag is the current levelsful all meaning the consumers benefit more. analysts think that lower prices are here to stay, and gas prices will fall further. you can't have winners without losers, in this case they are send sending
mixed messages. we have this report. >> reporter: as the price of crude oil plum et cetera, one question -- plummets, one question is on the mines of energy producers. could america's fracking make it a victim of its own success. fracking, breaking up oil and gas using a high pressure cocktail of water, sand and chemicals made the u.s. the leading oil producer. america is churning out 9 million barrels a day up from 5 million as new wells are more efirm. in south texas, oil wells installed in 2014 are bumping 400 more barrels a day than those built in 2010. that's contributed to an overall drop in oil. drillers. >> the reason prices dropped quickly and fast is he had a slow down of the economy.
he's not demonstrating as much oil. there's a lot of supply of oil. more than expected. the u.s. is producing more and more and more month. >> reporter: with a 40% drop in prices since june. analysts say the price of oil is getting close to the point where it's no longer profitable to drill. that means energy companies whose hiring bonanza helped to propel the u.s. out of recession is likely to pare back. >> we'll see cost cutting, 5,000 companies producing oil and gas - it's enormous. some are well financed and can shift money around, where they are drilling and will do fine. it's the installer businesses, some mum and pop, backed by private equity that will run into trouble. asset. >> for work, in boom towns like willis and north dakota, lower prices could mean fewer jobs
down the road they rely on big debt. as prices drop and stay low. they are susceptible to mergers and acquisitions. assets will be performed, purchased for pennies on the dollar - i hate to say it - but they say an the outstanding debt. news. >> we are in a period of sustained low oil prices, reverberating through the economy, helping the economy. you have thousands of millions of companies out there that will do. >> most americans should expect a few extra dollars at the end of the year. a recent ihs analysis concluded that the average american household will save $750 annually because of the oil prices. the only question is whether it will help the broader economy and offset the oil jobs that could be lost as prices decline falling oil prices will force energy producers in places
like canada to rethink expansion plans. that is not likely to stop support for keystone xl. the project has been held up by the obama administration because of environmental concernsment ali spoke to canada's ambassador to the united states to find out why cheep oil is not deterring canadian producers to push for the pipe line. >> the oil producers in canada are long distance runners. since the oil sands were developed, people that invested in the oil sands have not been in for a sprint, they have been in for a long distance race. and they have been very, very successful. sometimes the prices go up. sometimes the prices go down. but most of the people i listen to in canada are in it for the long haul. obviously they prefer higher price, but they have been
through the swings before. >> ambassador. you are my people, as you know, and canadians enjoy is good reputation for doing the right thing. what is the lesson we learnt out of keystone xl. the postscript is looking like canada may have been a little ham-fisted. what is the take away? >> people that oppose the pipe lip, and oppose it today, have asserted if the pipe line was not built, the oil would stay in the ground and it would be good for the planet. three or four years later, very few of these critics, those that made the comments a few years ago, have been held to account. but the truth of it is, after the statements have been made, that the reality is that scientists in the state department have documented the oil will go on rail. we have
had a tenfold increase on oil since the delay in nebraska, and there's a projected threefield increase behind 2015. again, crude oil on rail. what are the scientists saying, these are not canadian talking points. they are u.s. scientists in the state department. what do they say pipelines versus rail. they basically conclude with data, that pipe lines are safer, more affordable, and have less greenhouse gases - 28 to 42% less than rail. so the ham-handed possess is not approving pipe lines, and having safety risks, cost downsides, and the whole issue of higher emissions using - utilizing rail to a disproportionate amount. >> is it true if the pipeline extension does not get built, that canada will build a
pipeline to the west coast and send the oil to asia. >> there's proposals to the west coast, to asia, two of them. there's two proposed lines to the east coast of canada, about 1,000 miles closer to the refineries in india, and two to the south, one a high profile of key stone and the expansion of states. i believe that the consequence ever not building the pipeline is what we see in the past. it's been more and more oil, not just from the canada, but from north dakota and montana going to the gulf coast refineries on rail. that is what has happened. the state department predicted that. everyone talks about using science to make energy and environment decisions. we think the scientists and the state department have it right.
>> angry protests continue over the lack of indictments at the hands of police. no indictment does not mean no penalty. we follow the money next. primetime news. >> welcome to al jazeera america. >> stories that impact the world, affect the nation and touch your life. >> i'm back. i'm not going anywhere this time. >> only on al jazeera america. >> it's a chilling and draconian sentence... it simply cannot stand. >> its disgraceful... the only crime they really committed is journalism... >> they are truth seekers... >> all they really wanna do is find out what's happening, so they can tell people... >> governments around the world all united to condemn this... >> as you can see, it's
o the family of eric garner filed a so-called notice of claim against new york city, the police department and various officers, seeking $75 million in damages in the wake of his debt. data collected shows there were 9500 claims filed against the n.y.p.d. in fiscal year 2013, and the city paid $137 million in settlements and judgments. ali spoke to scott stringer, the man in charge. money, and he offered a look at new york's payment system. >> an individual comes before the office and files a claim.
we make an attempt to settle the claim. we do it rarely, not often. the controls office is empowered to make the settlement. that's what i have been doing. >> who determines the merit of the arguments. >> there's a hearing process. people think the controllers office has a lot of accounts watching the books. we have a robust law firm with respect the controllers office. there's 80 attorneys working to settle claims against the city. sometimes they are claims with notoriety. many times they slip and fall. there's a host of ways that people come to the controls office to settle the claims. this is our way of making sure that people do not sue the city over and over for the same things. we came out with something that basically does the analysis of where claims against the city come from. if we have 36% of or claims because of the n.y.p.d. complaint.
we now know where the complaints come from, what neighbourhood or precinct. it. happening. >> let me show statistics that you sent us. in this report is a chart. it's the claims file going back to 2003 by agency. what we see at the top is remarkable growth in claims, having to do with the police department. what is that statistic telling you. this is 31% higher over five years. >> claims against the police department have been escalating. individuals have filed claims. what is interesting is you cannot just track the increase over five years, but with the tool we devised, you cap look at which community. it's no surprise that central brooklyn and parts of the bronx have a huge amount of complaints. you can look at claims with other agencies, claims are less, according to the charges, in some neighbourhoods, tree limbs
falling on people is higher than other communities. this is an important tool, one, to save the city money. clams against the city. we budget 732 million a year, was we'll be sued. but we don't do anything with the agencies saying "what can we do?" can't we change a policy or a protocol. in the case of police complaints, as we look at the issue nationally, from ferguson to new york, throughout. this is a tool i believe that should be used in all jurisdiction. when you look at claims, you get to know the nitty-gritty, and what the claim was. >> what is the nity gritty, what are the things that are common? >> it runs the gamut. a search or a push and shove, or a host of cases where people fete the police were being too forceful, and obviously these are allegations, you know, so i don't want to pass judgment. clearly we have had issues
relating to stop and sfrisk, and the country now is looking for reform and looking for ways to make sure it doesn't happen. for us, it's a way of trading information. working at localities, trying to solve the problem. if you know there's a precinct. fix the problem. let's find out what is going on. if you seek a community where there's a few complaints, there's data a. >> do you fight a lot of claims or reject them or go to court? >> my job is to settle. that's what we try to do. if we can't. and it goes to our adept law department, where there are hundreds of lawyers that bring counterlitigation, and for me this is a new way of looking at how to save the city money, that's my job. in light of this national tragedy. in light of the civil rights
violations and people taking to the streets concerned, we have a great police force, but we have bad apples, and that's true of bad politicians and people that do not so good things. and it is a way of recalibrating and figuring out how to keep people out of harm's way by using the tool. >> you had a good political career, and i want to ask you about another night of protests. what do you think. clearly there are concerns about eric garner, and frustrations that we saw coming out of ferguson, missouri. is there something else at play, is this a larger frustration of power and authority or is it highly specific about eric garner and the police? >> there's a larger issue in the country. the president of the united states spoke about it. when i was a young activist, i was arrested in civil disobedience. so i have been a marcher, i have been a protestor, now i have a
different role and i have to negotiate and settle cases. it's a different role. i understand what people are talking about. folks are afraid of police, yet there are so many good police officers. somehow we have to build the country together and law enforcement. it will be a good change, but we have to get it right. part of what we have to remember is people make great sacrifices, police officers lose their lives in the line of duty, and we can't imagine being that person. we have to make sure every black and group child is not subject to stop and frisk because of colour of the skin, because of what they wear and look like. that's a large erdialogue. we are having it in new york city. and will continue to have it. >> imaginiation soared when n.a.s.a. launched orion, which it is hoped will take astronauts to mars. for the commercial industry they
are looking at soaring profits closer to earth. >> we believe a hunk in the moon that you could hold in your hands could be worth $1 billion. >> companies competing to mine the moon - next on "real money". >> consider this: the news of the day plus so much more. >> we begin with the growing controversy. >> answers to the questions no one else will ask. >> real perspective, consider this on al jazeera america >> now available, the new al jazeea america mobile news app. get our exclusive in depth, reporting when you want it. a global perspective wherever you are. the major headlines in context. mashable says... you'll never miss the latest news >> they will continue looking for survivors... >> the potential for energy production is huge... >> no noise, no clutter, just real reporting. the new al jazeera america mobile app,
up there - everywhere from a chance to leave the planet to colonizing mars and mining the moon. companies interested in mining the moon insist that it's not more complicated than planning a mission to antarctica. conditions are extreme, but the payoff is huge. it's true now because the government is handing over the reins to private companies to explore and exploit the moon. several companies are racing to develop landers and rovers to do that. astro bottics and moon express are two start-ups competing. both share a goal - get to the moon and make billions. jacob ward reports. >> reporter: moonexpress and astro bottic are competitors in a small emerging mark, a market that doesn't though that it needs the moon. >> we see the moon as the continent of the world. we want to open it up. >> we believe a hunk of the moon you can hold in your hands could be worth a billion.
>> both are building unmanned spacecraft that could take cargo to the moon. like a fed ex or freight service. they can mount above the deck. they can mount to below the deck. things like rovers, experiments, science instruments, education programs. once we land on the surface of the moon, we become a power station. we have solar panels, we are like the local utility. >> moonexpress is smaller, about the size of a coffee table and holds 80 pounds. >> the design of the vehicle, the spacecraft - here it is here - it's - notice it's like a flying saucer. that's a payload deck. it's like a little hot rod in spas. it gets all the way to the moon in mars. >> the ambition of both companies, to build infrastructure on the moon. commercial space stations, mines for metal. launch facilities that can send craft deeper into space. >> the moon ultimately is a
stepping stone to bigger and better things, mainly mars. that's the big objective right now. we need to start with the moon. it's in our backyard. >> both companies will be a part of the lunar catalyst programme. the agency will help both companies develop the spacecraft with a goal of contracting them. similar to deals it had with spacex and orbital scientists to take cargo to the space station. n.a.s.a. was moving to the frontier challenge lining going to mars. we recognise that it is important to continue the economic expansion. that's why we are hoping companies will be able to do what n.a.s.a. once did. >> the goal is to promote a competitive market. there's another lair to the competition. the 40 million google lunar x prize, a company driving images on the moon and send back hd images. astro bottic and moon express
are competing, along with 16 other companies around the globe. many plan to launch to the moon in 2016. astro bot uk proposed to split the $70 million cost with other teams, setting up a kind of n.a.s.c.a.r. for moon rovers. >> you'll have real-time live. >> this is red rover and the entrant to the race. >> they are already planning lander. >> it will be full of logo, and opportunities for companies to have messaging, branding and social experiences on the moon. >> it's competition for the sport and business. both companies will carry pay loads to the moon. moon express transports a telescope to the lunar association, and bring a japanese sports drink. >> that is sending a drink to be
the first drink on the moon and serve as a time capsule for the kids of japan to put their dreams in. >> reporter: until now, this is what moon exploration looked like to americans. apollo mission, astronauts, golf, not drinks of n.a.s.c.a.r. races. commercializing space means that. it will become commercial. >> here is jim and i when we test the lunar module. >> it's a far cry from apollo 9st astronaut's day. >> when you see a creative lander on the moon and have a close up and there is budweiser or n.a.s.c.a.r., or an advertising symbol. there's a little ambiguity into the game. >> sponsors are money, and it is the key to developing pace and all
that comes with it. future. >> they see likes of up to s and settlements. who knows. >> jacob ward joins us from san francisco. this is mined boggling when we see all the money and competition. the concept of competing for something which no market exists. how does that work? >> well, i mean, ali, at this point what we are talking about is competition as normalizing force, a stabilizing force. most companies would tell you they are grateful to the other for existing. there's a legitimizition of ambitions in the fact that there's two crazy people in the room, rather than just one. throughout the history of the privatisation of space, competition is what allows efficiency to happen, what allows is to be affordable and enforces a certain safety. when we think about it of oh,
well, it's a frontier, your standards are different to what they are when we talk about sending private enterprises up there. competition is more of a normalizing influence sthan a true race -- than a true race to bring anything back. >> let's talk about the safety and the dangers and the look of regulation. these cop companies that are competing for the google lunar x prize - do we have to think about exploitation or those types of things? >> we do. if we take the moon as an example, as we said, it's in our backyard. that is governed now under an international treaty, the space treaty that governs it, saying that no nation can claim sovereignty over it. there has been thought about what one can do. no one touched mining. one interesting example you
spoke about earlier is antarctica, close to another planet as we have on earth. antarctica is governed by a multinational treaty that bans mining. we'd have to get around that, come up with an environmental assessment sort of system for mining on the moon. right now if you look at the way that people treat the moon in having gone there, the footage of the apollo astronauts leaving, they are blowing derib. they are rolling through the sites that have been historically amazing. we need some sort of governing system for saying we can all go there, we may be able to take stuff back, but no one gets to exploit the moon. >> that is the show today. "real money" airs weekdays 7:00p.m. eastern, 4:00 p.m. pacific. i'm david shuster, have a great weekend everybody.
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>> it's an urgent need... and a host willing to ask the tough questions >> how do you explain it to yourself? and you'll get... the inside story ray suarez hosts inside story weekdays at 5 eastern only on al jazeera america >> we are following breaking news in australia, a hostage standoff in one of sydney's buzzest districts, several hostages come out, but several more are believed to be inside. >> murder charges filed against a u.s. marine in the philippines. the latest in the case that ignited international tensions. >> palestinians push for a u.n.