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tv   Boom Bust  RT  October 9, 2021 1:30am-2:01am EDT

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ah, thing this is boom by going vision. say you can't afford to miss. i'm rachel blevins and i bridge a board washington coming up. the ongoing energy crisis has so fiercely united states the nation could soon face the same fate. straight ahead, we bring you expert insight into the looming shortage. plus, equities have rebounded after weeks of uncertainty. we'll pick a spin around the globe to see what's moving market. then the king of video game streaming services has been have well discuss just how much data was leaked from quit and what it means to the platform feeder. we have
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a lot to cover today. let's get started. we leave the program with an oil rally to finish out the week as west texas intermediate, surpass $80.00 a barrel on friday for the 1st time in nearly 7 years. the ongoing energy crunch in europe and asia has sparked gains across the board for oil, natural gas and coal, as dwindling supplies mixed with increased demand for its part w t. i is seeing a 7th street week in the green marking its longest winning streak since december. 2013 brent crude also saw its future surpass $83.00 a barrel on friday, putting both benchmarks up by more than 60 percent for the year. so how long will this rally continue? and could we see oil hit $100.00 a barrel by the end of the year as the energy crunch continues with winter right around the corner. well, joining us now to discuss is kirk and were former sure of the permian basin petroleum association. kirk, it's great to have you on the show today. now i know when we look back at this
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week's rally, it was largely expected as supplies continue to run low. but do you see oil actually getting to that 100 dollar mark in the near future? racial personal, thank you for having me to day and, and i would have to say you have to listen to opec plus people look as there is we found out last year during the pandemic and how much they flooded our markets with oil. they're in control of this market from the day one. they can put so much more on the market every day. and yet they're not putting it on right now. so our prices are staying high. and that's where they want to stay. and it's interesting because you know, opec many people kind of, when you hear so much about opec, you think their job is to put enough supply in to keep energy prices low. but the reality is opec's just trying to find that perfect balance to see how much paper oil while making it sustainable to actually keep producing. now with that in mind, the u. s. energy department has also kind of said, hey,
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it doesn't look like we're going to tap any of our strategic oil reserves right now . why don't you think we're seeing more action on the government level here in the united states to cool off this current rally specifically when the u. s. is so oil dependent. yeah, brent i, i don't understand it either that they tell us not to drill on our american lands, but yet they go to opec and say, could you please put some more on the market when literally last year we probably lost $40000.00 jobs just in the permian basin that when the oil price went down to $37.00 a barrel. so the producers in this country are very wary about putting a moral in the market. and you can't blame them because of what happened to us last year. but the policies that they're very odd right now and we really don't understand it. so everybody's just being very conservative right now. and there's really plans because we have negative $37.00 a barrel a year ago. that was a very good year for us. and so the prices are up right now, but we don't know how long they're going to stay up and what that means for next
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year to again, it's going to be bad for this country. if they don't allow us to drill for our own oil. and that's why why the, i way, please elaborate on that point because, you know, obviously here in the united states we talk so much about the permian basin. we talk about shale. what is happening? why are, i mean, like i know you're saying we don't really know why they're saying don't drill, but what is the state of oil when it comes to the us? will gabriel, we can supply this nice with as much all as they need and very clean what were importing. i don't know if you're on itself is 4000000 barrels a day from canada, and it's the dirtiest all in the world. and yet, we want to bring that lamb as opposed to letting us drill for the oil, as we do in this country and a very environmentally sensitive way and a very clean way. and you know, to mate road domestic security interest for this country because we did r o n e r d. so we need our gasoline to run our plains and our ships and our tanks,
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if there's any military crisis. ahead and so doesn't make any sense at all for us not to be having our industry produce our own oil, as opposed to begging other countries to produce produce more for us. so done, mikey, system, us even right now, when you're talking about this movement, i mean, tens of thousands of workers being laid off as a result of that. and i know that there are a lot of concerns about whether that demand is going to say or not. but when it comes to just how much the u. s. is producing, do you see enough of the movement to really kind of get the federal government's attention here, or is this just kind of want to stay by state basis now, right. so, so you're saying again, the permian basin is the best place to draw the world on there, such as the best way to get all of it from this, from the grounds of this country. but yet again, the policies, the set in a mexico you're showing a map right now with the permian basin. there's no mix. there's a lot of federal lands and the by the ministrations told us not to drill those federal lands or the gulf of mexico. we're in north dakota or colorado,
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and so that just leaves texas to drill. so again, people are going to be putting the money out wall street running away from us because of green policies that are getting put out there to, to invest in people's well. so it's a very all time for us to and to try to invest in this market. when the government us government write down the administration is telling us not to. and it's, it's very worrisome ahead and especially natural gas side that i hope we talk about . so here i was asking you to be a very tight market also, and you see what clean energy has done in britain and asia over the last few weeks . and just tremendous sparks in their process because they don't have a good, sustainable, a fuel supply like we do here in america. yeah, and i do want to get into that. i know you mentioned the energy transfer we're seeing in europe and asia are their concerns of the u. s. could being next on the list. and is there anything that bind administration can and should be doing right now to prevent it? will embarrassingly on the texan because we are supposed to be the leaders in the
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energy industry. but as you all know, we had a horrendous snow my getting us what we called it in february, where are a solar panels in texas. we got probably the most anywhere in the world windmills, which got more where it went more those. but when it's cloudy, snowy and no wind, that capacity wasn't there. so you could see a scenario where the entire country becomes a no wind. no. so we're type atmosphere and we do not have generation at texas right now to go through that again. i don't think we do in this country for a country. lot of other countries, a lot more stable than texas is in that regard because texas is on its own grid. and so it exposed lot of problems we have in texas, but it also expose what can happen in this country. and if we do, if we win ourselves off natural gas and coal and nuclear power, and we're trying to rely on these renewables is, can be a sad situation for this country. well, and i, i understand your opinion,
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and obviously i know that you have a vested interest in the oil industry. that's totally understandable. so in your opinion, is there a delicate balance we can do of renewables and also using traditional as their node fossil fuels? you know brandon, our whole policy. i think everybody policy, we have to have all of the above. we have to have the hydro, the silver, the nuclear, the wind, everybody has to participate. now the clean energy shipped is incredible, but you still are going to have some parts of our industry that run on fuel from oil and gas industry. so again, we need to do it all we need to do. we're clean in the future. i think everybody that wants to be of harmony safety. yes, we have to have all of the above in the future and i think we can do that. but you can't do it by excluding the one gas industry at excellent points to consider here, clark edwards, we really appreciate your time and insight today. appreciate it. thank you,
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rachel. thank you, brent. ah, global markets are mostly up this week as they rebound from several weeks of decreasing sentiment. we start in russia as the mo, x is up more than 3 percent for the week. as oil and gas prices remain high. as we have talked about during the energy crisis facing europe, russian president vladimir putin said this week, his nation is ready to help stabilize prices. something else to keep an eye out here, the world bank updates forecast for russia's economic growth this year. now projecting expansion of 4.3 percent in 2021. moving to asian markets, the shanghai composite, it's in the green, but friday was the only day this week for training. after markets were closed for the golden week holiday. on friday, the capacity gained more than a half of a percent data released friday showed the services sector grew in september, the services purchasing managers index rose to $53.00 for the month from 46.7 in
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august. of course, as a reminder, anything over 50 shows, growth in the sector. moving to hong kong, the hung sang is up about one and a half percent for the week. most of those gains came on thursday as tech giant 10 setting alibaba. they were up more than 5.5 and 7 percent respectively. hong kong listed shares in china, chinese, a states which had previously been a major shareholder and property developer. china ever grant was up more than 30 percent after it said it had received an offer to go private positivity surrounding us. china trade talks also help to push things up in hong kong in japan. we have our 1st red arrow for the week for the nikkei. the index lost more than 5 percent into tuesdays trade. having lost nearly 10 percent since september highs, global concerns over inflation, the china have a grand debt situation. also wait on the market. in his 1st policy speech on friday, newly minted prime minister, who meal casita said he will implement a quote,
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new cap. elizabeth thing previous policy had caused a quote, deep ripped between the haves and the have nots. moving over to india, the centex is up by just over one percent with the nifty index closing at record highs on friday. the reserve bank of india kept rates unchanged for the 8th straight time, promising to keep raid steady as long as necessary to revive growth. while the market may be up, it is important to know that the energy crunch is taking a toll as several north indian states have based electricity cars due to a lack of coal, causing some anxiety over the economic recovery in australia. the sexes in the green, not more than one and a half percent for the week. the financial sector did take a hit mid week after the nations banking regulator tightened restrictions and said further action could take place. however, they did recoup some of those losses towards the end of the week. mining stock finished out the week strong as commodity prices search. and in south africa, the all share is up for the week as energy prices rose and concern about inflation
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continued the all share fell mid week. but as global sediment increase to close things out, the all share, some thought, some gains of nearly 2 percent on thursday alone. something to keep an eye on. in south africa, the nation's largest metals workers union started in indefinite strike this week seeking pay raises. so we'll keep an eye on that as well. now let's go over to rachel for europe in the americas. thanks, fran. it's more of the same here as we start in the u. k, with the green arrow for the foot. see the index is out nearly one percent for the week with heavy weight minors and bank stock leaving the gains. however, the bank of england is already warning. markets could be improved sharp correction in the near future. if investors reevaluate the progress that has actually been made during the recovery nearby, the german docs and the french kac ended the week in the green. this, despite both taking a hit on friday, as soaring energy prices, keep inflation at 13 year high. the use energy commission is now saying the has
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enough gas in storage to last through the winter, but it is calling on individual states to provide relief to consumers as prices continue to rise across the atlantic in brazil, the best buy is up this despite new report showing annual inflation in the country has hit double digits for the 1st time in over 5 years. brazil central bank says it believes inflation peak in september has continued supply shortages and rising energy prices combined with the worst drought. the country has seen in nearly a century now over in mexico, the b and b is also in the green. the country central bank raise interest rates for the 3rd consecutive time as report show, cor inflation continues to increase, paying a 4 year high in september. and here in the united states, the tao, the nasdaq and the s and p are all up for the week. now, with the federal reserve warning, it would begin tapering bon purchases and then your future. the latest jobs report
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shows the u. s. coming up short for the 2nd month in a row, while the unemployment rate did fall slightly more than expected. the country only added 194000 jobs in september, far below estimates of 500000. and finally, it's a little bit of a different story in canada where the t s x is in the green, but the country has gained more jobs and expect it in time now for a quick break. but when we come back, amazons twitch dot tv is grappling with a major data leak that has shown personal info of its content creators straight ahead. we bring you the latest on the lake and what it spells for the streaming giant that's gonna break there. the numbers it's close. aah! mm
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ah! and i dream shaped banks, printers and those with dares sinks. we dare to ask in now in the 21st century we have a panic buying spree and commodities. commodities have had a new all time high, higher than 20 a lot higher than at any time in history. and yet what's lagging horribly, gold and silver. this commodities boom is being spurred really by
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oil. oil is the really the new gold is the global gold as the global currency. the actual dollars that whether since 1971, when the u. s. white from gold to oil, to back its currency. and so j go the fear alive today, he would be cornering the oil market to try this for a commodities panic. trying to get offload is week. imagine picking up a future textbook on the early years of the 21st century. what are the chapters cold? gun violence, school shootings, homelessness 1st, it was my job and then it was my family. didn't was my savings. i have nothing. i have nothing and it's not like i don't try. i look for resources, i look for jobs. i look for everything i can to make this pass and i end up doing is passing the road to the american dream. paved with dead refugees is very
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idealized image is older america makes americans look past a dance that happened every single day. this is a modem, history of the usa, my america. oh, nazi. a welcome back. amazon own streaming giant, which has been hacked with a massive amount of internal data posted anonymously on, for champ, included in the information leaked, is apparently the entirety of twitches, source code, an an exhaustive list of over 10000 streamers. earnings on the platform from august 2019 to october 2021 along with encrypted passwords. now the data is reportedly available for anyone to download in the form of a 125 gigabyte torrent file. joining us our discuss our boom bus,
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cohost bend swan and christy i. now ben, 1st of all, i want to say, i'm not suggesting anybody download that. i'm just saying that it is available. but 1st, let's start with just how a site like twitch, owned by amazon, visited by i assume, you know, millions to billions of people. how was it so vulnerable? yeah, i think that's the, that's the big question. this around says, looked at that $128.00 gig torrent file that sitting there. i'm not even sure how interesting it would be a much why anyone would download it. it's not like it has credit card information on it that you could steal. it does have payouts of earnings, of, of twitch, you know, gamers if that interests you and you want to know how much they make, i guess. but here's what's really interesting about this. so apparently it was some kind of internal server configuration change that was taking place, which is kind of interesting because it's similar to what happened to facebook when they went down on october 4th. they also had a configuration change for their servers. in facebook's case, a cause the problem for d n s and they could no longer connect to d
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n s. in this case, amazon says it gave a 3rd party hacking group access to be able to get into their system. and then download all of this data, it take all of this data it's, it's pretty incredible. it took the entirety, as you said, of twitch dot tv. they were able to get all of it, not a little bit of it, all of it. and so what so interesting about this is there's no explanation as to what specifically was the access point. how were they able to do this? simply due to a server configuration change, which is a pretty common practice. how will, how was this 8 of us guarded site? we'll talk more about that in a minute. but how was an ada? b, u. s. guarded site. so susceptible to hackers? it's actually pretty embarrassing for amazon, and incredibly concerning all around, especially amazon is involved. now, christy, what all do we know about this hacker group called anarchy? well, not much in explicit detail, or i also wouldn't be so fascinating. it's essentially a captive ism group as in internet activism. they use these hacks in order to
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garner attention as a form of civil disobedience and or to promote a political agenda or social change. and i mean the roots of hacker culture and hacker as 6 are often related to free speech human rights or freedom of information movements. so this leak was literally intended to create a public statement and to create chaos. not out of greed are distortion like ransomware. so that's exactly what this is. the hacker blamed amazon's could bead and twitches sites toxic culture, and stated that the league was intended to foster more disruption and competition in the online video streaming space. essentially by posting the source code for the world to see the hacker, basically as mocking bay. so saying that base those paid $970000000.00 for this. and now he's giving it away for free. and here's why everything gets really interesting. this month we've seen facebook go down, has been just mentioned sign a verse, which is the largest company that routes as sam. that's for all us carriers was hack leaking const, customer tex,
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than we had the pandora papers. and now this twitch hack. and ironically, october supposed to be cybersecurity awareness month. all right, that is truly ironic. now ben, as you mentioned, vague, seemed to have gotten all of it when it came to to it. yet this leak has been labeled part one, suggesting that there could be more to come. so what do you think that means what else might come out of it and should we be expecting a part to in the near future? but we certainly might see it again. i don't think the details of what was taken or so interesting here. it's not like the sony has a few years ago if you remember that, which actually had a lot of very interesting information in it. i don't think this has as much an interesting information, but it does stand out though, in terms of 8 of us. so here's the other, i think very important point. 8 of us as amazon web services controls of all 40 percent of the entire wild networks around the world. they are the single largest cloud storage provider, anywhere they dwarf microsoft, they dwarf oracle,
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they dwarf google. 8 of us is the premier, if you will cloud storage site in the world. and yet not only was one of a ws his own properties, one of amazon's own properties hack. but the fact that the hackers were able to essentially take whatever they wanted to take the fact that they were able to actually troll twitch dot tv and start posting images of jeff bezos. there took to christian point, a lot of it was mockery. it wasn't about necessarily getting away with some, you know, valuable content. it was about showing how weak 8 of us is and how weak amazon is. and i said, think of anything else. companies around the world that are putting their trust in, in a ws, simply because a ws really does a massive amount of advertising and has big corporate clients shouldn't necessarily see a w. s as secure simply because they can spend a lot of money to tell you how great they are. and christy to that point, how does a hack like this impact amazon overall as a company? i mean, amazon's already affected saying, as an asset that they paid nearly
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a $1000000000.00 for has now been given away for free. i mean, the source code has now been revealed to the likes of youtube and discord, and only fans and other streaming competitors who, of course, will eventually use this against which. and then on top of that, hackers also include the details of an unreleased product from the amazon gain studios. and this can have major repercussions for amazon shareholders. and as been mentioned, amazon secures the data of millions of americans and serves millions of businesses that rely on their 8 of yes services. so the hacker can lift all the information from one of amazon subsidiaries. what's to stop them from hacking into the us in the future? and that's it. as a ploy, the kristi just made because as been mentioned, it seems like it's not that interesting. it's source code, but the reality is video games streaming has become hugely popular in the pandemic . it grew only bigger. and the fact is, is that websites like you tube, but they're still really trying to catch up with the way twitch does it. there's still the superior brand,
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if you're one of those people who watches video game. so chris and i have maybe a minute left, but legally, when source code like this is released, can another company come in and implement portions of it without getting caught? if they're trying to improve their service. absolutely, i mean at this time it is public data. so when things are posted onto public, there's absolutely nothing to stop a competitor from then using it and then serving their own purposes and serving their own benefits and who been point. this is actually very similar because while twitches now, blaming this on a data exposure on a server configuration change that was subsequently accessed. this is actually very similar language to the facebook and facebook currently denies that. so it makes us wonder if facebook is currently hiding anything else. and if this cocker could potentially lifted anything from the facebook breach potential brain, very, very, very interesting stuff, boom bus, spend, swan and christie. i thank you so much for following the story forth. thank you.
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and finally, while the world of energy, cheese is growing, there will of course be some bad actors in the space. this is where a project titled evolved apes comes in, evolve the 8th is a collection of 10000 unique enough to use available for purchase on the opens the marketplace according to an anonymous developer. each a is meant to be a character in a fighting game, where owners pit their age against each other and a contest for wars in a theory and but here's the rub. now according to our report from vice a week after it went live, the developer disappeared. tell you about $2700000.00 worth of a theory with them. the project was supposed to be funded through the sale of f. t and backers started to become suspicious back in september when communications with him few and far between from those developers. it was also later reported that the artist behind the apes hadn't been fully compensated for their work. and winners of
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a social media contests had not been given there and f t prizes. now, rachel, it seems kind of like a weird situation because when it's an out of tea, it's just a digital piece of art that's out there. so i understand not finishing the game if you're trying to scam these people, but you didn't even give them the apes. right? no kidding. i mean, they didn't even get that part of the sounds like a really actually fascinating concept, but it does kind of show that you got to watch yourself whenever it comes to, you know, these new fan technologies that are getting out there, that sound really cool, but i mean, we could of course put this all in the block chain and f t court. but if you'll remember, when kickstarter became very, very popular. there were a lot of those where we're assuming that they tried to complete the process and finish their product. but in the end may be did it, and i'm sure there were some bad actors. there's a lot of that process to getting to the whole new ape game that maybe we'll see want to be and that's it. for this time. you get boom bust on demand on the portable tv app available on smartphones and tablets. you google play in the apple
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app store by searching for affordable tv. credible and c. v can also be downloaded on samsung, smart tv and roku devices or simply check it out. affordable dot tv will see you next time. mm ah ah.
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oh, the way of life. so reindeer herders leading a traditionally nomadic lifestyle in the tundra is similar to a parallel reality. while the men drive the hood, women carry the weight of the household work on their shoulders. rather than make sure that was the last sheet that this really close. nice thinking. however, in the vast expanse of russia, there is a spot where a housewife could secure regular employment. started. it's in the fall semester. like, i'm not sure what i'm, what i'm like and usually just fill with oh, driven by drill shaped bankers and those with
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theirs sinks. we dare to ask oh, but years ago the telephone were different today or more violent than ever before. 20 years ago. the really kind of to stick with central place for so park i spoke to they did not have non principle at all except that they are using this principle claim has their own interest. but years ago, there was some sort of kind of dialogue with the others to see what they can do today. they are so kind of restrict you are limited,
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checked up your chicken while cabinet from one existing call question. and from, from inside my studio, just completely concentrated on what's called a this hour. so pet lines here. one are t, the prime minister opened molly accuses of french forces of training. terrorist groups in the north of the country is only approved by micky. so anthony, their arms groups trained by french offices, we have evidence of dots, and this is the situation we are currently witnessing molly and we don't understand it and we can't tolerated us all makers demand sanctions on rushers, north stream, to gas pipeline. blaming moscow for a price surge on europe's gas market. thus, despite the market retreating from an old time record off, the prudence pledge to boost supplies and,
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and the world health organization says it's close to approving rough.

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