if you are valero or pdf how do you pick >> of course, it is $50 a barrel margin they are making an enormous amount of money. you would think with the strong dollar and with massive prices in the u.s., we would not be exporting. we are exporting to europe and latin america. they can't run refineries either the refining crisis story in a world for example in washington where they don't understand energy well, i don't think they get it at all. of course, in russia, you lost 1.5 million barrels a day. europe, as you highlighted is a mess the did news for u.s. refiners for profit ability, we have low natural gas prices gas here is $8 btu not off from the all-time record that is less than the $30 in europe the energy world at the moment right now is insane. weneed to talk more. >> we do i think there is so much talk about the energy transition that may or may not happen. you know, people have the takes. if you don't like the price of gas, go out and buy an electric car. the people hit by the price of gas are the ones that are not buying a $60,000 ev. >> that's the priceof the ev it's going up. it

the sector already up 9% this week hitting new highs, marathon, chevron, pioneer natural, conoco, valero they're buying what is working money has been pouring in the oil and gas lately we're back right after this. joel, since kansas, we've taken our own path. we've never done what everyone else did. we took on the fear. we ignored the doubt. we loved the excitement. we believed. even when our path didn't make sense to everyone else, we kept going. we keep going. until our path is the one they wished they had taken. ♪♪ as a business owner, your bottom line is always top of mind. so start saving by switching to the mobile service designed for small business: comcast business mobile. flexible data plans mean you can get unlimited data or pay by the gig. all on the most reliable 5g network. with no line activation fees or term contracts... saving you up to $500 a year. and it's only available to comcast business internet customers. so boost your bottom line by switching today. comcast business. powering possibilities.™ >>> all right. welcome or welcome back, everybody. good wednesday m

valero, we've talked about forever. agree with them there. all of the levered names make sense and i dig that whole beard/mustache thing he has going. a wailer out of a winslow home picture. >> is that a compliment? we're tand you can about valerie and his way to play the diesel shortage, long valero and short trucking and in this case he's calling for a short amazon tim, do you like that? >> i think the market is not efficient enough nor that fair trade. i've done a fair amount of trades in my career that i thought were fundamentally correlated and i don't like pair trades paul is a talented guy and come on here with -- and pe pushed him into short exxon and made him a billionaire. so, i understand what he's doing there. and i think the most important point about this sector that is not just that it is underweighted and people -- the dynamics of the s&p under pressure and the energy sector is going to get it there faster. but the 15 to 25% free cash flow yields but then company's balance sheets are so different. eog, pxb, net wash, they have

marathon petroleum, valero among the names jumping. so what is the best trade here bk, how do you think about this? >> well, you know what, the best trade used to be exxon mobil but i got out of it because i'm concerned about the political ramifications. >> it was your final trade yesterday. >> on wednesday i think it was yes. so what we saw today was news that they're going to pass a bill that is going to cap gas prices so to me, if you're a refiner, whether it's exxon or marathon or anything like that, there's no economic incentive to produce more gasoline. so putting aside the fact that it's a ridiculous policy, if i'm an investor in one of these companies, i have to worry about whether or not i'm going to have the margins that i thought i was going to have. so it reminds me of healthcare going into the last election we have midterms coming up this fall i think the refinery in oil and energy sector could be this political football so for me, i got out of that i bought into gasoline futures because that's a much more pure play for me

. >> buy valero. that's because the diesel fuel i mean, last night, i had -- i had the real faang on, diamondback. they are making so much money that i'm not saying you should be investigating, but they're not spending a lot they're making fortunes, doing a variable dividend. if you want a faang to buy, you buy diamondback. buy diamondback here because the xpr, the president is -- it doesn't last forever we're at dangerous levels for the xpr. they can't seem to keep the price of oil down, and faang has more than anyone so diamondback is a great story. just a great story >> diesel inventories are something we're going to watch all summer long. jim, the casinos, is this a bounce on the hopes of a lockdown lift? >> absolutely. people believe now the lockdown lift could happen in the next two weeks. it could happen this weekend there the problem is all the public health people i deal with are saying we don't know why they're doing what they're doing. we just don't know why they're doing it now, in the las

. -- before we think that valero, which is what i will be recommending is completely devoid of any reason to be -- or marathon p, what's happened is there a tremendous pull in diesel from europe by the way, the worldwide market but this jet feel, they have had to pause and make a lot of jet fuel because there is more travel once again, kinds of like, jay powell is god, i wish they would stop traveling already. >> well, that may start happening, right, if the monetary loss -- the balance sheet issues of the house -- >> i think it will but i think right now, they need to push it over a little the two-year is up so -- by the way, if you want to get a mor mortgage, those mortgage rates they are no longer just given to anybody. that's a big change because a lot of people are worried about credit rask because the amount of debt is doubled versus what we thought. >> that brings to us spreads, which we haven't touched on. high yield, biggest loss in almost two years on triple cs. yields near 21-month highs we are going to start talking about fallen angels at some point i imagine. >> yes, we are i

valero up 72%. delek up 86% and pbf energy is up 140%. they have six refineries and one of two operating in the state of new jersey as the east coast has had a shortage of refineries and that explosion of the philadelphia refinery in 2019 just reducing jut put. pbf up 140% since january 1st. as you know, energy is the only thing that has been working consistently in the stock market this year. the sector is up nearly 50% to begin 2022 it is one of two in the s&p that are above water. utilities, they're up less than 1%, but they're not down 10% let's talk more about the energy sector and get more into the refiners is biraj borkhataria. good to see you, biraj last time we met was in november in london. good to have out the program you heard me talk about the smaller independent refiners in the united states. obviously exxon and chevron do refining as well are there any names in the u.s. or globally that stand out more to you right now >> thanks for having me on i think this global refining rally is really a global phenomenon we see it acros

. >> valero, joe 52-week high speaks to the energy trade right here gasoline in particular driving season i'm pretty sure this is a favorite name of our good friend, mark fisher. i think there's a lot more upside to come i heard him talking about it on the 5:00 show as well. i'd stay in the name you're a one-man stitchwork master. but your staffing plan needs to go up a size. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit indeed.com/hire age before beauty? why not both? visibly diminish wrinkled skin in... crepe corrector lotion... only from gold bond. (vo) verizon is going ultra! with 5g ultra wideband in many more cities, you get up to 10x the speed at no extra cost. plus six premium entertainment subscriptions, included! like disney+, music, gaming, and more! (mom) delightful. (vo) saving you over $350 dollars a year. and for a limited time get a 5g phone on us! no trade-in required. (mom) amazing. (vo) this is the offer you just can't miss! verizon is going ultra, so you can get more. >>>

new highs, who is refiners, valero is at a new high. marathon petroleum, two of the big refiners devin isat a new high, coterra just gushing cash. these are the only stocks on the new high list set s&p 500. pity restaurant owners, people who have to make things from plastic, like tutupperware the ceo of brinker, of course, we're continues to navigate some of the most challenging cycles many of us have ever seen. the margins here, they were 13.9%. is that a lot? yeah, that's a 12% to 13% drop the stock moves, and they're not the only one howard shultz was talking about it as well, but there you see it, down the outlook is sun changed, but obviously the margins come down, they come down, too, and we have a fed meeting today. the big question is very simple -- has the market priced in enough hawkishness for the fed? many stocks are at or near multiyear lows the bulls are insisting inflation will peak. can i point out what powell said last week on this exact question he was asked, is inflation peaking? here's what he said. in the case of th

and look at refiners valero makes a new all-time high every day. so regardless of fed outcome decision rhetoric, i think energy is still the place to be. >> i think the fed could absolutely be more hawkish in the past 24 hours we have had two former fed vice chairs coming out and saying that a recession is likely. >> and no big deal. >> and we'll take one journalist out there to ask powell is 75 basis points on the deck and if they say yes, that is a po possibility, that is hawkish. >> the market is following through on expectations of fed intentions they're relying on the market doing what it is doing and relying on market doing a lot of work for them. and have we priced in peak fed, peak inflation, certainly there have been inflation and hot inflation numbers since their last meeting that would give you the sense that the ammunition of all that we're expecting and heard is what we'll get. but again i look at spot commodity prices and copper i think is starting to price in peak inflation i realize we have sticky labor markets. but this is a case w

i would say the crude oil contract is down today and that is energy with valero and marathon and exploration areas like the xop those have seen very robust speculation in calls betting the prices go higher rather than lower. >> before we let you go, we have to talk about the broader market f fomo trade is way over people are looking for quality amazon seemed like quality cloud marketing is up. we expect logistics to take a down turn as the pandemic breaks where is amazon? >> i think quality for some investors like warren buffett, for instance, the pe is still too high as good as the company does and as great as it is top of mind with consumers, it is just not a company that will attract that kind of investor it could attract a host of other investors, frank i would think after the week it had last week, amazon will be on some people's radar this week. >> jon najarian, i appreciate the wake up and insight. >> thank you >>> that does it for us on "worldwide exchange. the dow could open 100 points higher it is still early. dow closed down 900 points on friday "squawk box wi ctillonnue to break

valero, vll. look at these refiners, unbelievable >> thanks for watching "fast money.anywhere "mad money" starts right now >>> my mission is simple to make you money. i'm here to level the playing field for all investors. there's always a bull market somewhere, and i promise to help you find it. "mad money" starts now ♪ >>> hey, i'm cramer. welcome to "mad money. welcome to cramerica i'm trying to save you money my job is not just to entertain but to educate and teach you call me at 1-800-737-cnbc. or tweet me. stop giving up on companies you believe in you'll be wrong more often than you're right, and you'll end up kicking yourself on days like today, when the dow surged, the nasdaq sky problem etted -- skyrocketed we were puzzled of how some of the stocks were so doing so poorly it was crushing us and then i was reminded when i worked with karen cramer at my old hendge fund i would see a stock down big and she would ask me, did you do your homework? i would say yes. she would say, do you have

valero, vll. look at these refiners, unbelievable >> thanks for watching "fast money.anywhere "mad money" starts right now >>> my mission is simple to make you money. i'm here to level the playing field for all investors. there's always a bull market somewhere, and i promise to help you find it. "mad money" starts now ♪ >>> hey, i'm cramer. welcome to "mad money. welcome to cramerica i'm trying to save you money my job is not just to entertain but to educate and teach you call me at 1-800-737-cnbc. or tweet me. stop giving up on companies you believe in you'll be wrong more often than

next, valero this is another one of the names within the energy space, talk about it a lot of the time trading 1.07 they rolled some calls, sold calls working well, 110 calls, and they're buying the june 125 calls. they bought 8200 of those calls. those are going for about 1.50 i am in all these positions, expecting to see with nokia tomorrow, finding out pretty quick. >> people were thinking nokia may have the first big quarter in ages. getting this from industry people pete, let me ask you, isn't $5 a great call option in itself? >> yeah. that is. that's a call that never expires, jim, unless they completely tank. these are inexpensive options, 27 cents they have a shot if this can perform, get a nice earnings number. >> i like the risk part of that, pete >> let me ask you about energy if other things in the market are falling because of concerns of slowdown, if the only thing keeping oil from falling is geopolitical, if there's resolution on the geopolitical front, is oil and energy related stocks, are they at risk >> there are two types of oil stocks, ones returning capital at inve

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much attention because they're refinery stocks are really outperforming especially tuesday, names like valero and mid kaps, pbf and delek. they rose. nair thon and petroleum rpc, which is the company we talked about the other day, also doing well no doubt you've heard a lot about energy this year, but it's not just about those actually there are a good number of those all-time highs include j&j and coca-cola, both helping to keep the dow from sinking more. take a look at cerner and wec energy, wisconsin electric bear markets have been, shall we sea, pretty awful. look at the march returns. roz storrs, up 14% kimberly-clark, everybody needs toilet pape e up 13% lam western holdings it's not smith and wes son they're a potato proadviser. you want stalk with that a lot of people do you've got sailpoint holdings, a digital i.d. company auto association ollie's bargain outlet, shares there are up 14% in fact, speaking of ollie's, many discount stores like an all loi's including target, dollar tree, dollar general, they're seeing a lot of buyersle could that be on fear of a slowdown? maybe. the mac

also wanted to point out shares of valero, moving higher as they beat top and bottom line estimates with revenue growing 85% year-over-year, citi thinks the stock is now heading to a new all time high. the firm raised its full target to $138 per share. >> pippa with some serious books behind her there pippa, we thank you very much for that >>> all right, i haven't read a book that thick since college, i'm telling you. the price of bitcoin back below 40,000, even as fidelity says retirement savers can put cryptocurrency in their 401(k)'s kate crypto rooney is at an event in the bahamas hosted by ftx, and she spoke to ftx's ceo. crypto kate, take it away. >> reporter: hey there, tyler. great to see you i did indeed speak to the ceo and cofounder of ftx, we sat down about ten minutes ago he said he supports fidelity's move he sees it as a good thing for the industry, and he says it expands access take a listen. >> i think it's going to start off small like all of these things, not expecting billions of dollars flowing in on day one or anything, but what it does is opens up another option fo

jonathan: valero reported earlier on, of 34%. some big energy winners. i thing a lot of people are asking the same question who have been exposed to that story over the last 12 months. fantastic returns. at what point do they step away and start to realize some of those gains? patrick: the last three days have been pretty hard with what has happened to china. you have seen real rotation out of the materials and energy companies only cyclical risks. -- the cyclical risks coming from a china slowdown and slowing demand. i would view this is a great entry point. the cash flow these companies are producing, if oil prices stay anywhere near where they are now, the companies are ridiculously cheap read futures curves and steep backwardation, were oil falls to six dollars a barrel, the companies are still -- to $60 a barrel, the oil companies are still cheap. i think you will have much stickier oil prices than what the futures curve implies. jonathan: patrick armstrong, plurimi wealth there. just creeping in over the last couple days. lisa: i find this fascinat

now, as the very ship depicted here is the one that came under fire this week. president valero, may zalinski unveiled the design on his instagram page with the message. the russian war ship always has only one direction. russian is expected to plan to surrender until the through this. i think you are the way so popular. because is the symbol why brains with a, with this russian setback is something that instills hope in the people of ukraine. hope that their country will survive. here's a round up of some of the other news making headlines around the world. hundreds of climate change activists have forced the closure of a square and central paris extinction rebellion protestors criticize the environmental programs put forward by frances to presidential candidates. china's largest city. shanghai has reported a record number of coven 19 cases despite a strict lockdown in place since the end of march. other areas of china are also seeing further restrictions as authority. stick to a 0 code policy. demonstrators in the u. s. state of michigan took to the streets to protest against the p

valero says it is working closely with the city and federal agencies to assess infrastructure. reggie: a guitar from one of most famous music videos of all time can be yours if you have hundreds of thousands of dollars. the guitar kurt cobain rocked and smells like teen spirit is going up for auction later this month. julian's auction house has the starting estimate between $600,000 and $800,000. we expect it will go for much more. back in 2020, the guitar he played for the mtv unplugged a special went for $6 million. that is the highest price ever paid for a guitar at auction. kumasi: maybe want to spend your money somewhere else. tomorrow several items of space history are going up for sale, including the first sample of lunar dust collected on the moon by astronaut neil armstrong in 1969. experts say this is especially unusual because lunar samples are property of the u.s. government. somehow this dust fell into private hands. and, the estimated sale price is $800,000 to $1.2 million. space dust. drew: how did they know that israel? -- is real? it's in private hands. reggie:

we know that the valero area, those tanks, do we have any idea this is going to affect? >>gas supply. >>so silo they've referred to it as a the silo, but we don't know exactly what was in there. this is not the large chevron refinery, some of the other refineries like across the bay over over in contra costa county. so at this point, i unclear if that will have any sort of impact on gas prices. theresa, okay, thank you very much. appreciate that. >>take a look at this. we have video showing the moments right after a fire broke out at a home depot in san jose and broke out saturday evening. forcing people living nearby to shelter in place. and right now investigators are trying to figure out what caused that fire kron on's sarah stinson is taking a look at the damage. >>the fire scene here at the home depot in san jose is still smoldering all the while. investigators are trying to figure out how this massive fire sparked on saturday. we're going on day 3 and there's still a huge presence here with firefighters and police officers blocking off the scene. investigators hope

benicia is deputy city manager says that all operations at the rivette a valero refinery honor hold while they evaluate the situation. >> really good. engineers working with a variety of agency. large part will be led by the coast guard to determine structural integrity to make sure that other ships can actually dock. >> city manager says for those who live nearby, it is okay to breathe. the air. they were monitoring the air quality and they say that it is safe. emeryville police are looking for a shooter who injured a man on saturday night. this happened around 9.30, at 64th street and market drive. a man was shot multiple times. he's in stable condition right now in the hospital. witnesses tell the police there was a group involved in an argument. then shots were fired and they took off in a car. >> oakland police this morning are investigating several weekend shootings. the latest happening just yesterday on interstate 5.80, one person was hurt in that case. but this comes after 5 other people were shot in separate incidents in just a span of 7 hours. kron four's gayle ong spoke with t

the past two years has bout several shares of exxon stock and chevron stock and sold some stock in valero. the chairman of the house energy and commerce committee, frank pallone also sold some shares in chevron stock and dominion energy stock just last summer. senator john hickenlooper who served on the senate energy natural resource committee sold a quarter of a million dollars of chevron stock in 2021. reported up to a million dollars in gains from exxonmobil stock that he owns but they are not alone. several other lawmakers we looked into also own energy stocks. they reap the dividends from those investments but some democrats want to put a stop to that for everybody, pushing for a windfall tax on oil company profits. the president of the u.s. oil and gas association, tim stewart telling fox this, quote, such a tax will do nothing to increase supply but will take away ability to reinvest in production and new infrastructure. worst of all it restricts investment to those who invested in us first, including pensions, small investors, retirees who look to dividends to supply meant their f

congressman who is also been outspoken about the issue has owned and traded exxon stock petroleum stock, valero stock, noble energy, senator john hickenlooper who served on the senate energy and natural resources committee sold a quarter of million dollars of chevron stock/year and reported up to $1 million in gains from exxon mobil stocks. oil companies and oil groups are not reacting well the democrats are floating to punish these companies for the profit that they're making and passing the profits down to the shareholders. the u.s. oil and gas association tim stewart telling fox business about that idea such attacks will do nothing to increase supply but take away our ability to reinvest in new production infrastructure. worst of all it restricts our ability to return investment to those who invested in us first including pension mutual fund and small investors and retirees who look to dividend to supplement their fixed income. stuart: thank you very much. i have a pole. this poll finds nearly two thirds say the national economy is in bad shape. economist anthony is with us. why are people i

line between eight and nine back east towards guerrero and valencia and bringing it to upper and lower valero made sense. it's a tough one and the unfortunate results of this map that we are working on today. it puts us in some uncomfortable situations around the tenderloin and selma and the communities we have heard about their connections. when talking about what a four b based map is going to do to this area, the original option was to have tenderloin in d five and includes parts of selma in d5. to me, i thought it made sense and it was a good start. i think the conversations i've had with folks since then, since monday night and the conversations the public feedback we have hear since then and having that central bit of selma taking out and separated from west selma is likely a bridge too far and likely something we should not really be exploring. but that brings us to what else do we do here? we're stuck with another force -- we either see the tenderloin as defined or we split up the transgender cultural district and both those choices and i'm not sure i would find myself supporting eith

commission and there is a challenge to bring in crude to that refinery, it will have an impact and valero certainly supplies lot of california's gasoline and if they are impacted in processing crude that will be a challenge. >> reporter: they have so far declined answer questions on how this will impact the production. >> from a regional aspect on how it will impact the economy, if it increases gasoline, it will be a challenge for all of us in the bay area. >> reporter: the city manager said they are waiting for inspectors to do a full damage assessment on the port and aside from affecting valera the company imports uses the port to import new toyotas from japan and the coast guard and other agencies have to decide if this portion of the dock is still structurally safe for them to offload the cars and a local toyota dealer said any kind of disruption could further hurt dealerships waiting for new cars and many dealerships are already seeing empty lots in a shortage of cars due to the pandemic. i did talk to this business and the manager declined to comment and everybody is waiting to find

and i think it's very badly, valero, and i don't think it should have been. but many, if the elite in germany appeared not to be listening, i oft one leading petrochemical policy analyst. why the idea was essentially, to work through trade. in order to lower the incentives for conflicts, because the moment you and hence trade in theory, both sides engage invest haskin in the game. and that means you lower the political incentives for war or other types of conflict. that was the principal principal idea driving a lot of the russia politics and policies of the german government, but also of other european governments. it didn't work as we know and yes, we'll contact, they should have known better. now those governments are leading a dash from gas. the european commission recently unveiled plans to cut many billions of cubic meters or b c m's. by the end of this year, we can replace $100.00 b. c. m of got some ports from russia. that is 2 thirds of what we import from them . this will end our over dependency and give us much needed room to maneuver. part of the

investigations. gutierrez will address the security council on tuesday as will ukrainian president, valero mere zalinski, christian salumi, al jazeera, the united nations. italy has expelled 30 russian diplomats and denmark 15 on. meanwhile, france says new e u sanctions against russia could be adopted on wednesday present to manuel. my cross says there are clear signs, war crimes were committed in boucher is also expelled. russian diplomats there roy chance has more. how is europe to respond to peaches, horror across the continent that seen so many atrocities in the past. the shock that such killing is happening again in western capitals is always complete agreements of what to call them. where all the pulled by the seeings in picture as the butchery, the clear evidence of sexual crime. all the talk to you that isn't civilians, that it's very clear the war crimes have taken place. the views of britons, foreign secretary echoed in most european capitals. we need to announce a tough new wave of sanctions. the reality is that money is still flowing from the west into peyton's war machine, an

to enforce and no fly zone is the families were left to live with their loss. alexander had married valero. yeah, less than 3 months ago. now she's a young widow holding died to colors, her husband defended to his last breath, hoping it won't be in vain. what other hamid al jazeera, the need for ukraine is still had on al jazeera, plenty more coverage of the war in ukraine, plus, preserving his patch the battle to protect one of the world's most important area, a force ah, ah, look forward to really, to scully's, the with sponsored play cutaways, now we've had a few days of really quite extraordinary warmth in northern china, the korean peninsula and to some degree in japan, but that's being knocked back a bit. and i got another bit of winter. shang itself is producing snow in north korea. the eastern side of china, ne, in china attempted hobby come down to 2 and briefly almost busy conditions in hawkeye. it goes off shore by the end of monday. so there's rain back in the picture, which always suppresses temperatures. south of the yanks, it's not that unusual. this time the we're still abo

what example had married valero? yeah, less than 3 months ago. now she's a young widow holding died to colors. her husband defended to his last breath, hoping it won't be in vain. but at the hemi al jazeera the need for ukraine. frances, there has been no breakthrough in efforts to convince russia to end its war in ukraine. the french president, money one micron to german chancellor, olaf sold, spoke to the russian president vladimir putin on the phone for more than an hour. they urge him to declare an immediate cease fire in ukraine as a condition for full negotiations. it's the 2nd time the leaders have tried to broker a deal in the past week. well, the u. s. has announced at sending another $200000000.00 worth of weapons to ukraine. it builds on the significant shipments it sent in the lead up to the war. and on thursday, the us congress approved an additional $13600000000.00 and emergency aid for ukraine. alan fisher is in washington d. c, and he explains what weapons the ukrainians are prioritizing. yes, president joe biden is at camp david

anchored off of philadelphia well over a week there's another product coming in in a week or two, and then valero has a tanker coming in. >> and what does it mean for all the importers now -- how do they respond? >> you know, that's the billion dollar question. it's like do you want this oil i mean, we have seen the outcry and call for bans. so while yes, they are able to bring the product in, do they really want to >> right exactly. if they think there's another way to get the supply, what are they -- that's the million dollar question for the whole market and everyone is watching the vessels. i read a note about chinese demand being able to take the russian barrels. they said even if we redirect the shipments from russia east to china, that's the equivalent of taking 90 million barrels out of the market. because there's a time lag it takes longer to go that way than the normal way. there's going to be a lot of disruption from all of this. >> definitely. if they did an immediate ban, it would have been a massive shock to our market because these are in-coming teus they need and the only thing is

. >> valero energy. stuart: schlumberger is on it too. nasdaq winners dollar tree, fast enal, walgreens,paccar, comcast. >> interesting. stuart: not big names on these winners list. big board right now seven minutes into the day shows a gain of 60 points, that's it. the 10 year treasury yield moving up 1.85%. gold look at that, $2,024 per ounce, bitcoin 38, 700, oil you've got to watch this today, 125 as we speak. nat gas actually moving lower today, down 3% go figure. the ample price for a gallon of regular we've been hitting this all day long that's the new record, 4.17 and in california you've gotta pay 5.44. despite an all-out war in ukraine and record setting gas prices, biden's climate czar john kerry insists the world must stay focused on cutting carbon emissions. we're on it. look at this headline. i came to college eager to debate. i found self-censorship instead, that's a liberal college student wrote that in a new york times of all places and liberals are turning on her, because she told the truth. will record high gas prices s

industry basically just dropped russian oil like a bad habit for example, i confirmed last week have valero that they're not buying russian crude and haven't been we've seen one cargo that shell said it bought, became public relations disaster for shell the reality is, it's already done we're not buying russian oil. >> tonight a top kremlin official stoking fear on state television, warning the west the prices could triple, but u.s. lawmakers in rare agreement on the issue are unbowed. democrat joe manchin from energy-rich west virginia pushed the administration for deregulation but said supporting ukraine is worth it. >> i believe the american people would basically pay if they had to, seeing that they're saving freedom and saving lives of innocent people. >> a deal including such a ban on capitol hill is expected in the next day the white house says discussions to tap into more oil from saudi arabia, venezuela and even iran are still under way. shep >> kayla tausche live for us tonight. >>> 1.7 million people have left ukraine since the fighting started. that's updated this evening from t

whether this valeroation continues is going to hinge on that who knows the outcome. that's a tough one to have to call >> absolutely and i kind of look at the whole market now. you know people worry b about recession. the conditions are favorable we have an inverted curve. three months of tens even after this back up, but it's still going take a spark what's the spark that's going to start to spiral consumer confidence >> doup ward >> in the other direction. >> maybe it will happen, maybe it won't >> quick question. my reporting was that we had, people had to get to the other side of the trade when rates fell could we go back to 2% on the ten-year as we try to unwind that trade >> i think the people is there to maybe get as high as 2% but i'd be buying duration at that point because i think it's technical. i think long-term, the trends are more clear >> this is what everyone's debating thank you. appreciate it. brian, ali and steve here's what else is ahead on the exchange >> ahead active growth funds are outperforming their peers. we'll check in with the cio of one

assault on ukraine has entered its feast dain. european allies have agreed to boost their support for valero, may zalinski government, by funding and supplying it with weapons. russia's president has escalated tensions by putting his nuclear forces on high alert, but he indicated you still give diplomacy a chance. talks are set to begin at ukraine's border with ballard. bruce ukraine's interior minister and meanwhile says at least $352.00 civilians have been killed in the conflict so far. turn a home begins our coverage from live in western ukraine lo sunday service with special poignancy the 1st of the war. pres, here for peace extinguished just days ago as if in answer, russian and ukrainian delegations are meeting on the border with bearers. it is the 1st glimmer of negotiation, but few, including ukraine's president expect a positive outcome. great best rodney, i'll say frankly, i don't believe in the result of this meeting, but let's try so that no citizen of ukraine would doubt that i as president, did try to stop the war when there was even just a small chance. the russian attack has

from broadcasting in the block, ah, russian and ukrainian delegations are on the way to the ukraine, valero sport, or in the coming out after q. have agreed to negotiate, quote, without precondition. ah, good morning. this is art international life from moscow. you're watching our world news at one i am this early monday morning. the 28th of february. my name's kevin o in just one very major story dominating. and we're starting with the news that the un security council meeting dedicated to the situation in ukraine, wrapped up just last hour. the council called for a rare emergency special session of the $193.00 member general assembly on russia's invasion, which shirt will be held on monday, as western allies step up a diplomatic campaign to isolate moscow. the votes by the 15 member council was procedural so russia could not wield its veto. this time. a resolution convening the general assembly session was adopted with a 7 yes votes. russia voted. know, while china india in the united arab emirates, abstained when we brought that event to you live and let's get some comments on it . now.

they have lagged, so a company like valero is still interesting to us in an energy sector that probably has moved too far too fast year to date but has a lot of legs in front of it >> mike, in terms of the move in oil prices, clearly there was geopolitical premium built in. the question from here is how much those stocks give up ground if it does dissipate further from here. >> exactly i mean, they're up still tremendously, they were up month to date even though they're down 4% this week obviously coming from a position of strength. the thing to watch and you started to hear indications of maybe we're getting toward prices in the commodity where supplier discipline finally does buckle a little bit. incrementally. that's complicated by a bunch of different factors as to whether, you know, companies can really get that much more aggressive by turning on supply in these current supply chain conditions and everything, but i do think that right now, energy, the s&p energy sector has moved in lockstep with the commodities. it hasn't been an overshoot in one direction or the other >> oblox, on

because go to gonna be rather nuclear valero, than we are focused on discouraging mass gatherings and large crowds. and instead encouraging people to follow government health protocols, manosalvas, any other schools are shut till the end of the month. and frontline workers are receiving booster doses. gatherings of more than 20 people are banned and mosque are mandatory outdoors. people will need vaccine cards to enter public spaces and to access public services. the 3rd wave has infected health workers in hospitals and healthcare facilities in large numbers by way of my bill, emily, rather than the previous wave, left her health care system in shambles. we were unable to cope with the overwhelming number of patients. this time we have to look out for our health professionals who are the backbone of the i saw the government was only 40 percent of nipples. 30000000 people are fully vaccinated. 50 percent have received a partial dose with a relatively low vaccination rate. experts say that halt should expand its vaccination drive, mosque up and maintain social distance revenue the limbo

maybe says about to go numbered rather than nuclear, valero, and we are focused on discouraging mass gatherings and large crowds. and instead encouraging people to follow government health protocols. mine is horrible and i like other schools are shut till the end of the month. and front end workers are receiving booster doses. gatherings of more than 20 people are banned and masks are mandatory outdoors. people will need vaccine cards to enter public spaces and to access public services. the 3rd wave has infected health workers in hospitals and health care facilities in large numbers. by way of my believe that the previous wave left her health care system in shambles, we were unable to cope with the overwhelming number of patients. this time we have to look out for our health professionals who are the backbone of this. i saw the government like only 40 percent of nipples. 30000000 people upwardly vaccinated. 50 percent have received a partial dose with a relatively low vaccination rate. experts say that house should expand its vaccination drive, mosque up, and maintain social distanc

valero and the food bank have had a long-standing partnership. not only do we donate individually but we like to donate our hours. that became a challenge during to the 19 because we could not come to the warehouse, we could not socially distance, so we are bringing bags home, doing work and employees are able to generate 2200 volunteer hours on their own. >> it's fantastic, in addition to the manpower effort, we also have a large check to donate. we are bringing in john calendar with the food bank and letting you make that presentation. >> john, it is a pleasure on behalf of valero to give you this check for $40,000. >> this is amazing, guys. we appreciate the partnership. as scott mentioned, valero has been a partner with the food bank for many years now, especially since i have been here they have contributed more and more every year because they know how difficult it has been for those residents facing insecurity in our two counties. they have really stepped up. they continue to do so, they are a great partner. we appreciate all of their supp

the right wing, traditional right wing, valero, because, and so the game is far more open, that it seems that the axis of french politics has moved to the right, dominated by issues like immigration, and to succeed. micron will have to move with it. but like previous power, couples with political differences. think coal meter, all she rec, schroeder, that's no reason to think sholtes and mccomb can't see eye to eye on europe and the world. joe, to hold al jazeera at paris. ah . how fast they are. these are the top stories south africa is observing a week of morning for the nobel prize piece prize. laureate desmond tutu, amana rose to prominence in the 1980s as an opponent of parties during white minority rule died at the age of $95.00 minimal asthma from cape town. what is key is, is just really the u military that the archbishop, oh, is described by in that he didn't want a big show around his parsing and even he his death. but it could simply can't be avoided.

i don't know, hey, look, valero is moving. that was a joke, but we have to be careful if you lose the cloud stocks, lose the companies that are losing money, about have great 40% revenue growth, that's not enough anymore, and i'm worried about retail because of omicron. i think that omicron is sweeping the nation >> from a foot traffic point of view >> maybe you want to take a break, but mark mahaney's work, his service says amazon is more negative i don't know if amazon is not that good and the mall is not that good, we have to pull back alternates a little shopify is great i think shopify and etsy are the two that don't have supply chain problems i really like both when i see a stock like adobe down, i say, okay, be a little circumspect. adobe is a great company. >>> if david were here, we would definitely have mentioned morgan stanley, but they do see a lot of catalyst -- >> very positive piece, and at the risk of making david have to call in, i'm going to go with it. >> really? >> i'm going with it. >> he's going to be mad

today's disappointing jobs report factor into it joining me are sandy, the co-portfolio manager of the valero balance fund and michelle meyer, b of a. welcome to both of you michelle, first of all reality check on the jobs report not as bad as it looked? >> it wasn't i mean the headline was obviously a disappointment coming in well below expectations, but look at the details of the report. we have an unemployment rate at 4.2% that occurred despite the fact that the workforce actually increased. so what that tells us is that people entered the labor market and they were able to find jobs while the people who are sitting there unemployed were also able to find jobs that's actually a very encouraging dynamic in the labor market which shows it is still one that there's plenty of job opportunities, wages are still on the rise, and we expect that trend to continue for sometime now. >> sandy villary, you say if things keep dropping you are going to buy i wonder because you think omicron possibly, you know, temporary, but what about sentiment? what about valuation might there be a valuation reset, ev

they are going to give it to, say, exxon, valero those will return the oil at some date. with extra barrels kind of like interest whether or not that occurs at what time. i spent all day texting and talking to oil executives and ceos they all told me they are a little confused. the president wants higher production the same day, you have a letter basically saying, you know, threatening action and asking for prices asking all these questions and feeling they are sort of under the gun on one hand and to be the good guys and pump more oil on the other hand. there is a lot going on in the oil markets. it didn't lower prices it would in the future the spr was not designed to lower prices it should be noted a lot of the oil is sort of heavy, sour splujy stuff it may not even be the oil that american producerswant you guys at home, i've got a 5 gallon racing jug. i use it for lawn mowers and things i have used it for a kgenerator. gas goes bad it is oil sitting in actual caves in the ground. it gets messi and dirty but it will work. the strategic petroleum reserve is just that y

the institute of european studies in belgrade describe russell's attitude to valero, says colonial hello, says being treated quite differently from turkey. we can see the clear difference in language and in deeds. and there is this sense i will say oregon's law when i, when brussels, he is talking to them a sense that i would even compared to their postcolonial cost. i would say this has a lot to do with when the hybrid warfare with, with hybrid warfare against russia and billers is being seen as a, let's say, influenced by russia from the russell log ministration. and of course, from their western neighbors, the baltic states and poland. so i do think we have more concerned for geo politics here than ford human rights. the e u has awarded a soccer of prize for freedom of thought to russian opposition, figure alexi, and of albany. the accolades given annually by the european parliament to recognize what it calls perseverance for human rights. i'll teach shall, ado. becky told don't call to the details is is considered to be the use talk human rights prize, but there are concerns about ho

in the retine -- refiners, for instance, stock prices go up about 20%, the case with phillips 66 and valero, but if you're paying, doesn't feel so nice. jack: and again, those companies that rely on energy for a big part of their input, they're seeing trouble like delta. >> yeah. you've got to look at the airlines. they just could not catch a break. travel largely halted, they got some momentum, then we had the delta variant, now you have delta -- the airline, not the variant -- warning rising prices could hit its profitability, so we're going to have to see what united says next week. but anyone relying on those inputs, they're going to be feeling the pain. anyone driving is also feeling the pain. jack: if only they could have locked in the future at that -37, they'd be happy right now. real quick, what does this heene for your portfolio as an investor? >> we talk about inflation hedges, and what you want to do is buy the things that are going up. i have a piece out this week, chevron, the yield's up 5%, dividend even looks sustainable at that level, even if price of oil drops a bit. jack: