why exxon-mobile? you looked at getty oil in your career, but why this company, and how was it -- how did it differ from some of your other subjects like the bin ladens? >> guest: uh-huh. and it's just an interesting -- to me, it was an interesting gorpny, i started out as a business reporter on wall street when i was young, and then i went abroad and worked more on international subjects, and after 9/11, i wrote about the origins of the 9/11 attacks in 20 years of american covert policy in afghanistan and the ghost wars, and after that was over, i wanted to keep writing about america and the the world after 9/11, the a-symmetric strange groping we had as a country to understand what the attacks were, what the relationship with the middle east was, and that led me to the bin ladens which was a book intended to be about saudi arabia and its modernization and how complicated it was for this generation of oil shock boomers that osama belonged to to be of age in the 70s when the kingdom was a wash in wealt

exxon is no longer the bellwether. it reminds me of a bank, not of an oil company, and i wyche real oil companies with real growth and this company doesn't have it. >> there we go off to the races at the big board. >> they're probably going to go out and start acquiring more assets when you chip away at that 1.6 billion with 100 million here, 100 million there, we saw them pay 180 million for omg pop, that's when you see the value and the cash go down. >> good thursday morning. welcome to the third hour of "squawk on the street." let's get a check on the markets. we have a rally on our hands, off the session highs, the dow posting a 178 point gain, up 1.4%, the s&p up 17 or 1.25% and the nasdaq higher by 1.2%. we're seeing the most strength in technology as well as energy stocks. speaking of technology, western digital and seagate, two of the biggest gainers on the s&p. western dig handily beating analyst estimates and aggressively moving higher estimates for the full year. seagate stock responding with a sharp rise as

exxon alone made $41 billion in pure profit just last year. wow. oil companies are almost as great at making money as they are terrible at cleaning up their messes when things go wrong. just about exactly two years ago, a pipeline ruptured along michigan's kalamazoo river. the company that owned the pipeline had ignored cracks and corrosion in that pipe for five years. when the pipe finally and perhaps inevitably gave out, the company did not respond or even realize anything had gone wrong for 17 hours after it broke. by that time, more than 800,000 gallons of tar sands oil had spilled into the river. tar sands oil is not like regular crude oil. it sinks. doesn't float on the top. it sinks, and it sank to the bottom of the kalamazoo. so the company spent two years trying to invent new ways to clean it up, how to shake it loose from the bottom of the riverbed so they could wipe it up on the surface with the old bad technology. the name of the company that owned the pipeline is enbridge. the federal government fined enbridge more than $3 million, whi

per share, exxon earned a $1.80, which excludes the contributions from exxon selling certain business units. that result was actually 15 cents below estimates. all five most active e.t.f.s were higher. the emerging markets fund popped the most, 2.3%. and that's tonight's "market focus." >> susie: we continue our look at cyber-security. our guest tonight is concerned about individual civil liberties in a bill making its way through the senate. he's lee tien, a senior attorney specializing in free speech at the electronic frontier foundation. lee, tell us why you're concerned that about security bill doesn't do enough to protect individual privacy? >> well, the emphasis of this bill as with many of the other bills we've sown lately is on increasing monitoring and surveillance powers by companies. the big problem with this bill, as with the others is that in doing that, it tends to wipe out a bunch of existing protections and federal law. that make telling unlawful for companys to read your e-mail without your consent. >> accuse the power to monitor >> so you're opposeed to stripping out

of iss npe cithl exxon and you think of spread other compans? 's ryooleoe cake uei ban coat ih d atro49th present. exxon et cetera was on the list. there was in the pve on ter s.elsnxi ym exobavnto. eagoexobnd wal-mart. microsoft is always in the mix. he took 50 years further, which one is more likely to still be nd nm opl wa ionichyy ecoo a trg coteifnt and similar apple is to exxonmobil. i walked away thinking, what a country. e uned stes prucedae d exnm use e cfo bt thl thin b i think create and ask serious job candidates if they've ever done out and ho e aner wld b s. inieanysehi adviders -- on the one hand they're very different and on the other hand there similars thbo ae om. ge iporiby stjoesteanto cuer experience, every element of the design of the boatwere not partners. ey dtien theld heans ot ot foed do control,de not the end itself. so is fascinating. the other point of god exxonmobil is comingin o, bee ureeg cmy hag companies. there's amax, bp. and yes, in the industrialized in0st hsre t i america -- exxonmobil as our state oil compa

the best they can come up with is that the koch brothers or exxon mobile or this gambleing mogul from macao sheldon adelson, they have to be out there as folks spending this big money, they might be intimidated by people who decide they're not going to buy their product any longer speak unkindly about them in the public arena things like that. that's kind of a preposterous argument because it's always been understood that the price of free speech, and the price of liberty is robust debate. you don't get to hide behind anonymity because you think someone is going to hurt your feelings. it's particularly important with these huge expenditures of special interests that are keeping their identity secret and hiding their motives. this is not public spirited. this is being done to accomplish political goals, win political battles and achieve political influence. it's particularly important that we know who it is, and who is behind it because the achievement of those motives and the goal of that influence is something that will effect the rest of us. >> eliot: you mention the issue of intimi

we should mention quickly, steve, exxon?

>> just the way an exxon pac comes from exxon. this is one of the great political flips of all time. it used to be that republicans argued that they did not want restrictions on the amount did you should simply disclose and that was enough. now, suddenly, the ball has moved. the supreme court's says you can say what you want, and the ball has moved completely down the field to a different place. disclosure means that people will be targeted. >> which is exactly what has happened with donors on the republican side, who have been targeted personally, the families and businesses, and that is why people are worried about the disclosure, because of the vindictive treatment of people exercising the free right of association -- >> sorry to interrupt. they are giving money to produce vindictive, attacking ads. that is targeting. people giving millions and millions to produce some of the most vicious -- >> when you send in $20, you are not writing the script of the ad. >> so talk of running mates. it is he going to choose? bobby jindal? ch

two weeks ago, rex tillerson, the ceo of exxon mobil, said that he was blind-sided by it. for the last few months we've seen a cottage industry of reports and conferences on the topic. it's an issue of the first priority, yet did tillerson, did jergen miss something? do we have a priori evidence that the volumes under discussion are at that scale, in fact, are going to materialize? is our world going to be shaken up by a flood of new oil in the coming two decades, or is what we're talking about an aspiration, what could happen if all the stars line up, if the costs are right, if the price is right, if the right technologies are applied correctly, if we don't get pushback from the environmental community. today we put the scenario, the oil abundance scenario to the test. two months ago, i sent around e-mails to the analysts, who were behind these reports, who were behind the theory that we're talking about, and i asked them, are you willing to be challenged on stage live, all at the same time, all at the same place? the response was enthusiastic. so it is that today that we

dundalk.it happened aa the exxon on merritt boulevard. police say the state medical examiner is investigating he cause ffdeath oo the male victim.the body appears to have been in the wooded area for some time. chris trociuk::"it's terrible. where are you safe at? was he murdered or what happened?" &pyvonne baugher: "it scares me becaase every niiht, i walk up to the store, and now i'm afraid, if i walk up, is someehing gonna happen to e?" &pme?"baltimore county police say there were no obvious signs of foul play. public works will begin replacing three sections of a water main in southwest baltimore this morning. morning.water customers near whistler nd wilmarco avenues may notice a slight droo in pressure as the repairs continu. continue.sections of the 54 inch line will require two weeks to replace. replace....and public works officials urge custommrs tt continue conservation efforts untillthe reeairs a re complete. expanding gambling n maryland is the center f a hot debate in maryland today.governor martin oomalley is scheduled to meet

five times more it's not yet above ground physically but it's above ground economically that's what exxon share price is based on when chevron goes to the bank to borrow money that's the collateral and and so it in essence they've already declared that they're going to burn it and unless we can figure out how to put a serious crimp in their plans and we're working hard on that three fifty dot org that carbon is going to get burnt and the planet's going to heat by more than a multiple support any sane scientist says is ok bill we've heard people talk about cap and trade we've heard people talk about carbon taxes and we've heard people talk about carbon sequestration sucking the carbon dioxide of the carbon the carbon dioxide out of the air out of the atmosphere where are these things that what are and are there other solutions that that i haven't mentioned i guess them the obvious one is to stop burning the stuff right yet the essential the essential policy thing every economist as you know pointed out for a decade now put a price on carbon that reflects the damage it does in the atmospher

exxon and mobil. >>> i think the olympic committee should be ashamed of themselves. i think they should be embarrassed. i think they should take all of the uniforms, put them in a pile, burn them, and start over again. >> outrage from congress has hit ralph lauren. the designer announced today the uniforms for the 2014 winter games in russia will be made in the united states of america. however, raffle lauren is still making a lot of money off this year's uniforms that are made in china. the men's uniform cost a staggering $1900. the women's uniform is selling for $1600. do the math for the 530 athletes and ralph lauren is pulling in about a million dollars, not to mention what they'll make on sales to the public, because people just want them. some of the money will end up in executives' pockets here in america. meanwhile, a good chunk of the money won't be going to help middle class workers who need it in the struggling economy. bad decision by the olympic committee. interesting how congress responded to it, and the republicans have been quiet about it. i asked you

congress and the chamber of commerce to start running ads against candidates and we'll never know the exxon funded it because the chamber of congress acts as sort of a silo for corporations but their money into that will never actually know any of their finders unless they openly disclose them so citizens united did have a powerful impact not only allowing the super pac say this but also empowering contending to empower five one c four and other independent expenditure groups to spend huge in the election as you noted they're spending much more the super pacs are and we have no idea who their donors are unlike the super pacs exactly and i think the interesting thing is they're starting to get a little into trouble they're drawing just because their ads are overtly political which they're not really allowed to be in the interesting thing is with the super pac if they want to run a they can both run unlimited both spend money super pacs and five zero and see force was super pacs they're allowed to be political with five zero and they're not really allowed to be political but it seems like rep

this young woman who asked her irk dentity be masked, lost a purse at the exxon station on alabama and southeast on july 16th. there was a more menacing aspect to this incident. >> one of the guys opened my car door and went n. another guy that was inside of the car waived a gun toward me to let me know he had a gun and they just grabbed my stuff and sped off. >> reporter: our victim had an iphone in her purse. using a locator application, she tracked it. detectives, she said, were disinterested and called 911. the responding officers told her they could not figure out who owned what phone. no seizure, no arrest. our victim said she repeatedly asked d.c.'s metropolitan police department to get a copy of the security video from the gas station where the robbery happened. there are six cameras there and the station's manager confirmed to us that police have not asked for security video from the july 16th incident. >> and if they investigated it properly, the outcome could have been different from what it is now. >> reporter: we brought the complainant's concerns to d.c. police and in a b

exxon, 3 p, colgate palmolive, dow chemical is due and after the close all eyes on amazon, facebook and starbucks especially zynga shares plunged nearly 40% after hours on wednesday to a new all time low as maker of social games post ad scanned quarter loss. it slashed its full year outlook. took facebook shares down 1% because it does get 12% of annual revenue from zynga and facebook will report its own earnings after the bell. >> shell saw its profit drop 13% in the second quarter hit by falling energy crieses. ceo spoke to cnbc about the prospects. >> work towards macro economic environment which mostly will drive oil price over the next six to 12 months strengthening afterwards again when the demand comes back on a worldwide basis, mostly led by emerging markets. >> mob second quarter profits are forecast to don't 10%. that figure down 8% from a year earlier. senior energy analyst at open end -- open endoppenheimer. >> we have to realize that exxon earnings are highly leveraged to crude oil prices. crude oil prices moved from $10 from a year ago. so that $10 drop in oil prices in ef

it explains how exxon made more money than any company in the history of money last year. that's why they're so rich and it is why people like the koch brothers fight so hard to make sure that we never have a government that will stand up to them on it. >> eliot: you point out very logically and in fact, even conservative economists have accepted this notion what we should do therefore is create a carbon tax to force them to internalize the cost. i don't want to talk about the economics of it now. you say, this is what we with introduced the segment with. we with need to recognize their the enemy. enemy is a harsh word but you've said they are the ones whom we need to target and focus on. you come up with a strategy for that. what is that strategy? >> we're probably going to need something that looks like that divestment movement around apartheid, a generation ago when college campuses and state and local governments around the country played a really large role in the overthrow of apartheid, at least nelson mandela said later by divesting their holdings in companies doing

a body s found behind an exxon gas station in dundalk. dundalk.ii happened at the exxonnon merritt boulevard. police say the state medical examiner is investigating the cause of death of the male victim.the body appears to &phave been in thh wooded area for some time. chris trociuk: "it's terrible. murdered or what happened?" yvonne baugher: "it scares me, because every night, i walk up to the store, and now i'm afraid, f i walk up, is somethhng gonna happen to me?" &psay there weee no obvious frist degree murder charges pre slapppe on several teenagers accused of videotapiig a man eing beaten to death... and then posting video of the crime on acebook. facebook.chicago police elieve 62 year old delfino mora was the target in a game offpoint and punch betweee gang members. police say mora was attackkd... and left for dead by the group... who then posted vidoe offthe attack on facebook. so far three teens have been charged with first degree urder in the attack. a new multi-miilion dolllr lending assistance program is cominn to balttmore. it

we are at the exxon along arlington along wilson boulevard and these palms are out of service. here is the gas station -- they to -- do have two working palms but the problem is they are only taking cash. they are not able to use those with power outages. not just people getting gas for cars but people are using the gas for their generators as well. the problem, though, with some money comes out of service, people are using more and more gas just trying to find ways to fill up their tanks. back here live, right at this gas station, these are the two palms working at the station. we are at the exxon along wilson boulevard in arlington, they do have gas at this point, two pumps remain. people have been coming in and out trying to fill up their tanks. >> no break from the heat, 76 right now. >> coming up, the latest on the power outages and and live interview with pepco. >> plus, brianne carter was talking about gas prices. in many areas that are falling again just sfx: sounds of marching band and crowd cheering sfx: sounds of marching band and crowd cheering so, i'm walking down

labor can only compete a dollar for every five or ten when you have the koch brothers and adelson and exxon and these big companies that outsource them. labor can't do anything like that. labor's very good at talking to your members and when you talk about labor once, it's elected labor union leaders who are setting the agenda just like people who vote for political figures, so labor can't compete at this level. you know, you're looking at a bunch of people paying union dues of maybe $100 or $150 a month. it's not that much. it's not even a comparison. "the wall street journal," a pretty conservative newspaper, of course puts that on the front page. it was well written. you know, you're looking at a bunch of people paying union dues of maybe $100 or $150 a month. it's not that much. it's not even a comparison. "the wall street journal," a pretty conservative newspaper, of course puts that on the front page. it was well written. there was some bias in the direction making that look like they could compete on an evening playing field. >> thank you. we're now joined by chrystia freeland. a lot

in the exxon valdez spill, we have about 8% recover. in the gulf of mexico, less than 2% recovered. -- less than 10% recover. attention to what everyone is saying [unintelligible] >> one person who does not seem to be paying attention as president obama. i want to play a comment from a 20 tammany announced the expansion of offshore oil and gas exploration. >> under the leadership of secretary salazar, we will employ new technology to reduce the impact of oil exploration. we will protect the area's vital to tourism, and garment, and national-security. we will be guided not by political ideology, the scientific evidence. that is why my administration will consider potential areas for development in the mid and south atlantic and the gulf of mexico was studying protecting sensitive areas in the arctic. that is why we will continue to support development of these areas of the north slope of alaska while protecting alaskas crystal bay. >> that was president of the misspeaking in 2010. he made these comments speaking in front of a fighter jet

exxon plans to search for oil in six regions. >>> jobless claiminize creased last -- claims increased last week. 386,000. that is higher than the 365,000 they expected. car makers are temporarily shutting down plants to gear up for new model. >> highlighting their partnership in clean energy projects. a dozen california companies show cased. bio fuels, solar power and energy efficiency at bases. >> it translates energy security into national security. >> last week the navy announced its commitment to cut power by half. >>> a school district must pay $1.7 million to help open a charter school. the board of education yesterday refused to wave the payment to fund the new charter school. the district is required by state law to fund the school. the district claimed that will take away money from other schools. >>> tonight the dark night will rise, tickets at a premium price, more coming up. >> low clouds and fog right now under the bay area coast line, coming up the temperature change and when 90s return, your forecast. >>> happening now, a live look inside the ethic's commission hearing

the body was found behind the exxon gas station. authorities believe the body had been at the location some time. they sent it to the state medical examination office. no word on the cause of death. police are investigating an accident between a motorcycle and vehicle that claimed the life of a baltimore city man. smith was traveling south on interstate 83 in baltimore county around 1:30 this morning when he collided with a car. preliminary investigation reveals he had been traveling in a high rate of speed. police say he had marijuana in his possession. there is no word on whether alcohol and drugs were a factor in the crash. >> a hot one today. temperatures well into the 90's. almost oppressive as far as the conditions are concerned. we're adding the chance of scattered thunderstorms. some of the clouds look impressive. they are building up. we do have clouds moving in from the west crossing the potomac river into howard county. also a thunderstorm along the maryland-pennsylvania line and south of annapolis as well as on the easte

authorities trying to identity two suspects seen in this video robbing a exxon gas station and hit a clerk with a gun. it happened last friday morning. >>> you see him call the police. >>> and a north carolina man is sitting in jail after maryland state police say they found heroin worth more than $100,000. officials made a traffic stop in cecil on 95 yesterday. police brought in a dog unit. >> actually 5,000 individually packaged units of heroin ready for street sales, another bag with heroin as well as over $78,000 of cash. >> boyd is in custody on $200,000 bond tonight. >>> new, four people locked up this evening accused of transporting cigarettes illegally across state lines. anyly 26 packs were take eastbounderren during the stop just south of hagerstown. officers took two cars that were used to transport all of them. you know just last month, [inaudible] announced a 6-cents hike per pack. it matched the price tag of the marlboro cigarettes the average price is now more than $5 a pack. >>> new, baltimore city will receive seven and a half million dollars of a 175 million-dollar

>> since 2010, vast quantities of cash had been injected into iraq by the likes of exxon mobil and bp, almost complete absence of oversight by government agencies. there are two corruption or bribery investigations going on in to western will companies operating in iraq. one is against the italian company in italy, the other is against leighton holdings, which is an australian company building the will export facilities in basra. an example of this i think is or an example of the problem is that bp, which won the first contract in iraq in 2009, they subsequently renegotiated the contract after it was awarded. they set a time limit on the iraqi society ability to approve or not approve subcontracts. when it came to awarding drilling contracts, $500 million worth of drilling contracts they were overpriced. they are awarded drilling contracts at $10 million, not $3 million, which is the normal going rate. because they put into their contract a time limit on the iraqi dissidents in the contract's ability to object -- participant in the country's ability to object, these overpriced contrac

exxon and mobil. >>> yesterday an anti-gay group threatened to boycott google. and today, they realized they just can't quit google. that's next in the "rewrite." delivering mail, medicine and packages. yet the house is considering a bill to close thousands of offices, slash service and layoff over 100,000 workers. the postal service is recording financial losses, but not for reasons you might think. the problem ? a burden no other agency or company bears. a 2006 law that drains $5 billion a year from post office revenue while the postal service is forced to overpay billions more into federal accounts. house bill 2309 is not the answer. hey. hey eddie. i brought your stuff. you don't have to do this. yes i do. i want you to keep this. it'd be weird. take care. you too. [ sighs ] so how did it go? he's upset. [ male announcer ] spend less time at gas stations. with best in class fuel economy. it's our most innovative altima ever. ♪ >>> in tonight's "rewrite," the love/hate relationship between right-wing religious fanatics and porn. the american family associat

so when you fill up at an exxon or mobil station, you're helping your engine get better fuel economy, while leaving behind cleaner emissions. it's how we make gasoline work smarter for you. exxon and mobil. ♪ lord, you got no reason ♪ you got no right ♪ ♪ i find myself at the wrong place ♪ [ male announcer ] the ram 1500 express. ♪ it says a lot about you. ♪ in a deep, hemi-rumble sort of way. guts. glory. ram. in a deep, hemi-rumble this is new york state. we built the first railway and the first trade route to the west. we built the tallest skyscrapers, the greatest empires. we pushed the country forward. then, some said, we lost our edge. we couldn't match the pace of the new business world. well today, there's a new new york state. one that's working to attract businesses and create jobs. build energy highways and high-tech centers. nurture start-ups and small businesses. reduce tax burdens and provide the lowest middle class tax rate in 58 years. once again, new york state is a place where innovation meets determination and where businesses lead the world. the new n

i want to go over quickly -- exxon quickly as i can the -- as quickly as i can with these departments over the next few years. the budgets are basically static because of the rising health- care costs. particularly our finance functions have gone through a major change this year. we have merge those luncheons with the city administrator's office and the department of technology. -- of those functions with the city administrator's office and the department of technology. as you heard earlier, we have over on the left-hand part of the chart, the community tv division following the do -- the redevelopment merge from the hearing earlier today about that. they have an increase in their facilities renewal budget about $1.2 million. the medical examiner's office has been mandated by state law to examine certain types of debt. their budget is increasing -- decreasing by $6 million because they are just finishing capital plant in the halls of justice. we had planned to come before you sometime in the next few years with a proposal for the earthquake emergency response fund, too. and we plan to

exxon and mobil. we take it on ours. this summer put your family in an exceptionally engineered mercedes-benz now for an exceptional price during the summer event. but hurry, this offer ends july 31st. > finally tonight one of america's most revered institutions is admitting it didn't do enough to stop a serial child predator. former fbi director released a blistering report on penn state university today. free accused penn state of protecting the image while it allowed an assistant football coach to repeatedly rape young boys. >> our most saddening and sobering finding is the total disregard for the safety and welfare of sandusky's child victims by the most senior leaders at penn state. the most powerful men at penn state failed to take any steps for 14 years to protect the children who sandusky victimized. >> paterno and university administrators first suspected sandusky back in 1998. sandusky was convicted last month of sexually abusing ten boys. penn state says it accepts full responsibility. our hearts remain heavy

this young women, who asked that her identity be masked, lost a purse at the exxon station at alabama and pennsyllania, se, on july 16th. there was a far more menacing aspect to this incident.mos says: "one of the guys just opened my car door, went right in. another guy, that was inside of the car, waved a gun towards me to let me know that he had a gun. and they just grabbed my stuff and they just sped off." our victim had an i-phone in her purse, and, using a locator application, tracked it. detectives, she says, seemed disinterested. she called 911, and responding officers told her they couldn't figure out who owned what phone. no seizure, no arrest. our victim says she also has repeatedly asked dc's metropolitan police department to get a copy of the security video from the gas station where the robbery happened. there aae six cameras there, and the station's manager has confirmed to us that police have not asked for security video from that july 16th incident. mos says: "if they investigated properly, the outcome could have been completely different from what it is now." we broug

you see them jump over the counter of an exxon gas station in laurell. the clerk is forced to open the register and then get to the floor. anyone with information can call crime stoppers. a simple traffic stop for tailgating turned out to be something much more serious. a maryland state trooper pulled over boyd yesterday afternoon. investigators arrested him after finding thousands of packets of heroin inside the car, drug paraphernalia, and more than $70,000 in suspected drug money stuffed in shoeboxes. we are told a heroine has a street value of more than $100,000. wells fargo will soon make a big payout to baltimore city. the company agreed to the settlement that it engaged and lending practices targeted to minorities. >> the lawsuit accused wells fargo of discriminatory lending practices targeting minority homebuyers, specifically steering african-americans in to subprime loans. baltimore was the first to file suit and more cities follow. >> even though your qualified and deserve better treatment. >> wells fargo and the part of justice have reached a