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New US Oil Well Permits Collapse 40% In November, Fed Still "Not Worried"?
Houston, we have a problem-er. With a third of S&P 500 capital expenditure due from the imploding energy sector (and with over 20% of the high-yield market dominated by these names), paying attention to any inflection point in the US oil-producers is critical as they have been gung-ho "unequivocally good" expanders even as oil prices began to fall. So, when Reuters reports a drop of almost 40 percent in new well permits issued across the United States in November, even The Fed's Stan Fischer might start to question his lower oil prices are "a phenomenon that’s making everybody better off," may warrant a rethink.
Data provided exclusively to Reuters on Tuesday by industry data firm Drilling Info Inc showed 4,520 new well permits were approved last month, down from 7,227 in October.
The pullback was a "very quick response" to U.S. crude prices, which settled on Tuesday at $66.88 CLc1, said Allen Gilmer, chief executive officer of Drilling Info.
New permits, which indicate what drilling rigs will be doing 60-90 days in the future, showed steep declines for the first time this year across the top three U.S. onshore fields: the Permian Basin and Eagle Ford in Texas and North Dakota's Bakken shale.
Gilmer said last month's pullback in permits was more about holding off on drilling good locations in a low-price environment than breaking even on well economics.
"I think in this case this was just a quick response, saying 'there are enough drill sites in the inventory, let's sit back, take a look and see what happens with prices,'" he said.
The specifics are intriguing given the cost curves...
The Permian Basin in West Texas and New Mexico showed a 38 percent decline in new oil and gas well permits last month, while the Eagle Ford and Bakken permit counts fell 28 percent and 29 percent, respectively, the data showed.
In addition to the Permian, Eagle Ford and Bakken, about 10 other regions tracked in Drilling Info's data showed declines as well. The Niobrara shale in Colorado and Wyoming saw a 32 percent decline in new permits, while the Granite Wash in Oklahoma and Texas and Mississippian Lime in Oklahoma and Kansas retreated 30 percent and 27 percent, respectively.
* * *
This is a precursor to more pain...
Gilmer said the pullback in new permits is a precursor to a decline in rigs. The U.S. land rig count has been largely flat since September, hovering around 1,860 oil and gas rigs, according to Baker Hughes Inc.
"This will show up," he said. "I expect we'll start seeing rig impact in a couple of months."
* * *
Of course, this should all be ignored because - like the NRF's reporting of a double-digit decline in Black Friday sales and slowing Cyber Monday - it would break the narrative for the US economic recovery, lower oil prices are "unequiviocally good" narrative!
Chart: Barclays
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Me thinks they're trying to kick off UN Agenda 21. Might be jumping to a pre-planned conclusion.
How can one be "worried" if one doesn't know WTF they are doing?
...both the known and unknown unknowns are a reasonable a cause for worry.
ZeroHedge: rising oil price bad, falling oil price bad.
ZeroHedge: rising gold price buy buy buy, falling gold price buy buy buy.
They don't talk about wells already permitted. The rig activity is the thing to watch and that hasn't dropped much yet. Where the drilling is easy they'll keep punching holes but hard rock drilling will stop.
So Colorado oil mkt is going to take one on the chin?
Pretty much, that is some hard rock drilling but the eastern parts along the Kansas border are easier and North Dakota is easy drilling. Texas it varies from one play to another, up here in the panhandle we're still punching holes but most of that is natural gas.
Worry is for fools says the Buddha, but so are Empires.
"Small-time Fracker demons, you shale not pass!"
- Oilygarchs R US
Fuck them all, every last earth-raping asshole until they die and burn in hell forever.
People have bumper stickers around here that say "oil and gas feed my family AND yours!" I carry a modified pop-rivet gun that discharges their truck's air bags while they're shopping to feed their disgusting crotchfruit.
I'll give you 3 guess what is used to make the plastic on your keyboard you fucking hypocrite.
It's made of gofuckyourself. How do you know I'm not so goddamned rich that I dictate everything?
Wrong. 2 guesses left. I'll give you a hint, it's petroleum based and comes out of the ground.
You got me. Truly it was a smokescreen. I lost the use of my limbs several years ago, and I employ a very nice dictation software called Dragon for Disabled. I do feel uncomfortable for you, though.
Stick it to these brain-dead "libertarian" zombie Zero bloviators, Barnaby!
REVOLT, YOU BAD-ASS MOTHER FUCKERS!
Yeah, didn't think so. "Fight Club" my ass.
Had to log in to say it.
Carry on!
Bitch, what?
Air bags don't deploy with the keys out of the ignition as far as I know.
PS.. You fucking idiot!
Modified being the key, honey.
Get the fuck outta here jerkoff.
Looks like you modified your brain a few times with that pop gun
Well if someone puts a bullet in your head for "modifying" their safety mechanisms in their car I wouldn't convict them.
pods
And I'd replace the ammo for em too.
Hey, this is my goddamned land, my goddamned water and my motherfucking goddamned natty gas. It's for Colorado, not to be auctioned off like a commodity and sent to douchebags in the Midwest so they can run their stupid ass generators. Go fuck yourselves, live by candlelight like a real human.
These are my fucking resources, and I'm tired of peckerwoods coming periodically to my glorious state to use up all our hookers and defecate in our streets.
Wow, bitter much?
I just happen to live in the Midwest, tell your CO bretheren to stop eating all that fucking corn fed beef that likely comes from my area.
and ps.......you need to get laid.....by something
Eat shit you Midwest hick, stop putting meat in your stinkhole and we'll talk. Otherwise, the gas is ours. Also, Go Bucks!
I'm sure you carry your pop gun around on your bike too.
Lemme guess, you bike to work, and the electricity you are using now to post is coming from your bike driven generator?
Or is it just a high horse you ride? How's the weather up there anyways?
pods
I stopped riding horses when I realized the ones I inherited had been broken. They did not deserve such treatment. Any subsequent ones will form a symbiosis with me should I desire or need to ride them. Good question. He's a morgan-quarter, and quite high because I'm very tall. Smaller horses look silly under me.
My action is only against property, as their action has been against the property of my neighbors, and our watershed.
I do bike whenever possible. I use reclaimed biodiesel and use a local distiller to make my own ethanol for use in my inherited compact car. I am self-employed and run a co-op to help people do the same. Thank you for a measured and healthy reply.
No one cares. This is an economics gossip site. Go away.
It's a fight club and you better fucking remember that, sweetie.
Nobody fights an invalid. Not a physical one, and neither a mental one...
Fight club does not excuse unnecessary poor manners. You caused me to burn a half cent of what I hope was CO based electricity punching the down arrow. I realize downing some stranger is pointless but it gives me a small amount of pleasure.
Back on topic... Bad news for the local home economy. My 23 yr old son drives flat beds out in the W. TX shale fields. He is recuperating from a bike (mc) accident. His return to work prospects are not looking very good at the moment.
Good. I hope he looks for work anywhere else, other than law enforcement.
He's not indicted for working in the field, but God help him if he returns to it.
Your action is against ANOTHER's property. We call that crime.
If your watershed is being harmed, well then there is a remedy for that.
If your neignbor's property has been harmed (a clear trespass) then it is up to THEM to seek remedy.
Your logic would absolve me of shooting you in the head for damaging my neighbor's property (air bag).
pods
Again, property, so your analogy is invalid. Basically, I witness my neighbor shitting on my neighbor's lawn, so I purposefully eat a bunch of peanuts, then deliberately go over there and in their plain sight crap on their stoop. Penalty plus interest because it'll be extra stinky and liquidy.
And I never said I've done something with my piston, let's be clear. A piece of grease pencil makes it look like somebody keyed the fuck outta their truck. White, black and red, cut to fit in the "mini-pocket" of any pair of jeans.
I hate oil and gassholes.
I caught a guy keying my Chevelle once. I guarantee he'll never do it again.
Listen, if I keyed your Chevelle you'd ask me to do it in cursive, pretty please with whipped cream. I'm large and handsome, as well as famous. It'd be like a book-signing for the pitifully-vehicularized.
You wouldn't have an oil/gas bumper sticker, so we would never worry about it anyway, Joe.
You are 160 lbs, 20 something, gf-less, unemployed and typing away in your lefty Mom's basement. Brad Pitt is a handsome, intelligent sumbitch but I still would not allow him on my property. Genetic giftings do not balance a lack of the most bsic social skills. Keying cars and popping airbags because you feel imposed upon is Ferguson thug behavior. Grow the fuck up dude!
No, no, no, no and no. Did I lose count?
Brad Pitt would look at my size, shape, face and stature and wonder where he went wrong. Farm work, true love, life and liberty, etc. are life tonics.
Don't let me lecture you, go ahead and be unhappy. Put me in your sad little box of mirrors!
Okay, so you never said:
"I carry a modified pop-rivet gun that discharges their truck's air bags while they're shopping to feed their disgusting crotchfruit."
Property is the result of expending your life, ie labor.
If you damage my property without compenstation you just took part of my life.
See?
Of course you don't.
pods
I like talking with you, and I appreciate your again even-handed response.
But I say this in the gentlest way possible: I'm reading Marcus Aurelius and you're reading Cracked.
Respectfully,
Barnaby
PS: let logic be your guide or this fight club will make you its bitch
Yeah you are bringing the logic.
Care to refute any of my points? Or is bloviation your specialty?
pods
Logic requires bases in mathematics or maths. You appear to have no socratic basis, and considering your "Thing" here, I wanted to spare you any embarrassment.
You have no maths and no logic. Even your fucking avatar lacks context or use, as to an american audience you look like the Undertaker. (I know it's Guy Fwkes, so edgy!)
Read. Soak up real information. Don't make me make you look stupider. Because you look stupidest already.
LOL
After all the shit you've been talking, and you come up with that? Sweettits, you're what we call a hypocrite.
Hey Vaq, saw someone quote 18 USC 242 and was wondering where you were at!
pods
This guy must be that student that got mugged and said he deserved it because of his 'privilege'.
Quite the contrary, they ran off with my penny farthing! Victorian much?
I know. The absurdity of these idiots. "I ruin our environment so we can feed our children GMO 'food'."
I don't have any fucking kids. I'm too smart to have ever fallen into that trap. Fuck these dumbasses and their idiot offspring.
Well, in all honesty, I feel sorry for you.
pods
1.) Why? and,
2.) Please don't.
I could not imagine how empty my life would be without my kids.
pods
Children. Religion. Cocaine. Alcohol. Television.
I guess we all have our addictions.
Recall "Pay It Forward?" It's programming and nothing more. Don't give up hoap.
That's because you can not imagine how full your life would be if you had nobody in place to take up your slack.
Send those cauliflowers off to an academy and get your damn life back, pods!
Hey, since you are all about liberty and property and freedom, why not let others live life how they wish?
pods
Tsar, thanks for stopping the bloodline at yourself. I hope Barnaby has chosen to do the same.
I wish most Americans would follow my route. At least 70% of them.
You sound like a really pleasant individual!
I am, really. Not fake, plastic "pleasant" like we're told we should be.
I'm honest. I'll take that over faux-pleasant any day of the year.
I called them crotchfruit for a reason. All my seed found purchase in another man's home. Indiscretions of youth and all that.
So, there are a bunch of fatherless black kids running around out there? Good job dude, carrying on a failed race.
What business of yours is it with whom I've copulated?
Also, every time I've penetrated a black lady it's been with a condom. Not that it's any of your business, but I respect my connubial sistahs too much to have them maligned by the likes of you.
With this kind of knee jerk response from the US Shale Companies, it validates OPEC's decision and making the Saudi's look like geniuses:
1. Doing American bidding by strangling Putin's cash flow - currying favor with the West
2. Killing US Shale miracle - OPEC regains power
3. Saudi's look like geniuses and are still making a profit - Saudi's gain more power within OPEC
win-win-win.
The response looks knee-jerk because most of hese shale companies are small and agile. They can drill and ramp up production really quickly, and also cut back quickly. If the oil majors were involved in shale, this would be slooooow.
The majors are involved in shale. But production is not the potential problem. While I am long some shales, the question is what is the impact of prices on reaerve valuations and will some of them have to write down those assets? If so, that could affect their credit lines and lendeds adjust valuations.
Permits are not hard to get and only last 30 days. They jump up and down regularly. The real key is that the Saudis think they can cause the current production to drop by 1-2m bbl in four to five months according to an artcle I read quoting people from inside the meeting. There were 8 dissenting countries and the four gulf states voted with SA. More of OPEC wants to cut so you might see voluntary cuts. You would think that Venezuela would not want the cuts because Texas shale oil goes to the same refineries. Kind of an interesting dichotomy there in OPEC.
Venezuela is a little different from the others as they are basically bankrupt and dysfunctional (Viva el socialismo!) and need as much production as they can get no matter what the price is. Junkie that needs his next fix. They want other OPEC members to do the cutting and do the heavy lifting for them. Iran is probably in the same boat.
Possibly so but they would still be cutting and their cut would surely be consumed by LTO from the Eagleford and Permian down in the gulf refineries. Least that is how it seems to me.
And once again you see that everyday Americans are just pawns in their games. Who cares who is thrust into poverty etc. My wife works for an oil service company and they are all ready talking layoffs.
Hurry up and short oil!!!!!!!!!!!!!!!!!!!!!!!
Short oil, help us out, short oil.
Anyone really stupid enough to think they will make money shorting oil because it's going to 60 or 40, go right ahead and short now.
Be patriotic, buy US shale-oline for $20 a gallon at the pump.
Be fast, very limited supply only.
Very, VERY limited supply.
The cost of refining shale oil, and tar-sand oil, will destroy the wafer-thin profit margins. We also shouldn't forget about the "energetic value" of shale oil. It is barely there.
Put down the bong and do some reading on the subject. Everything you said is wrong.
*puff puff pass*
I'm on Wikipedia right now, bitchezzzz.
Actually for most U.S. refineries shale oil (e.g. Eagle Ford) and heavy Canadian are some of the most profitable barrels you can refine.
Drill baby DRILL! I thought we were headed to be #1 in oil exports? I guess I'll add that to the list of MSM lies!
Who says it's an MSM lie?
From my niche - the frack sand supply business - I don't see any impact yet. The customers are still buying sand to frack wells. No slowdown going into the end of the year.
You sell sand ??
You mean that stuff that Africa is made of ?
Where's Sam Kinison now that we need him...
"You live in a fucking desert! Nothing grows in this shit! Taste it motherfucker, it's sand. You know what it's gonna be 100 years from now? IT'S GONNA BE SAND!!!"
Big business, you can sell it over and over again.
Just noticed your avatar. The ole' cat with a Kalashnikov and an H-bomb in the background. That pic is as old as the Internet - and still priceless. Nice.
Hydrolic fracturing has been nothing but a massive detriment to the environment, and, amazingly enough, to the oil and gas industry. So what if it creates jobs? It fucking ruins the environment everwhere those drill sites pop up.
If the energenic value, and profit margins, of shale oil is barely there, then fracking will collapse. Good for that, I couldn't be happier. Wasn't there an article here, on ZH, about an accidental toxic water dump in an aquafer? Yes, why don't we fuck up the last remaining vestiges of fresh water this country will have once man-made global warming really escalates. Accidents like that wouldn't happen if we weren't so desperate for cheap oil.
Also: Fracking is a last-ditch effort to acquire the remaining petroleum from the planet. Earth is tapped out of the light, sweet crude, and the Saudis know it. Maybe instead of drilling more, perhaps we should focus on conservation and energy efficency?
Oh, of course not! Asking Americans to sacrifice anything is off the table, since Americans are so fucking entitled to be asked to even drive energy-efficient cars. I was watching NBR last night, and SUVs, Cross-overs, and trucks are flying off the shelves due to cheap gas. Foresight is myopic!! Wait until the economic/oil/water/food/airable land collapse and watch the chickens go nuts looking for sustainence and comfort. Those hawks who denied man-made global warming will be the first ones to shoot you in the face, at point-blank range, in a heart-beat to steal YOUR water and YOUR provisions. Wait for it. I have no sympathy for people who deny science.
Keep on stackin' and hoardin' etc etc etc.
I've watched the rise of Frack Sand Mines near where my daughter lives. The Glaciers and glacial lakes and rives of the last Ice Age deposited unlimited tons of the nice clean and round sand particles that frackers inject to hold open the cracks in earth made by the blasting, this fine grains slip neatly deep into cracks and hold them open, while allowing oil and gas to pass by their smooth rounded surfaces. The mines I speak of grew from nothing but a few farmers fields into large mines and shipping facilities, I gather from the structures and the clean quality of thr shipping piles, that the sand is washed and perhaps even shined in tumblers. Anyways, the capital expenditure and leases just for SAND, are huge! The profit margine of what the drillers get paid at the well head, must be small. Don't assume the cost per barrel at the refinery is what the Frackers get paid! Nope, they get paid the well head price, and that is far below market rates at delivery. Frack oil must be driven out, just like water and sand must be driven in. Looking at it from an economic stand point, Fracking is marginal oil, it needs a hefty 80-100 dollars a barrel just to maybe pay off. And remember, JUST, making a profit, does not mean making BIG PROFITS! I stick with my previous posts, Fracking is Marginal High Cost Oil, low prices will shut the whole thing down, IF they last. Which I doubt they will, demand will catch up as soon as marginal oil, like fracking, leaves the market.
Let's talk Tar Sands and Canada next time! ZH! Get a Tar Sands article up soon. That WOULD be interesting!
Back in the 1970s the science doomers told us it was global cooling. Here we are freezing our asses off 35 years later from these polar vortexes. Good thing I didn't deny science! /sarc
Do you know anything more than you have read about it? Seriuosly? I own over 2000 acres in West Texas where you wouldn't send your dog to live and we produce the oil with horrible water you wouldn't drink and your dog would fall over and die if he drank it and it's not even any good for plants. Oh by the way, water in Texas is controlled by rule of capture, if it's under my land I own it.
Here is your pristine environment
http://tinypic.com/r/6yl85j/8
Specific Water does not sit under land that you own, it is a common source to all with land over the aquifer, it is an underground lake that rests inside the cracks in whatever geological formations best hold it. So you are like me putting a pipe into Lake Superior and drawing water. I have NO water of my own under my pipe, I take from all. So under Texas law, a smart man would drill, drill all sources and pump like mad, getting everybodies water. The level sinks, but you have no water under your land that is yours. See the logic of that? In California the farmer who drills the most gets the most, pumps the most, but as the level sinks, it takes water from everyone.
SS, You're the one who is denying science. Firstly, in your regurgitation of the debunked claim that fracking is "a massive detriment to the environment," and secondly in your delusionary belief that mankind is somehow causing "global warming." You need to turn off the Rick Fox and Al Gore movies. The climate has been going in and out of ice ages, mini ice ages, warm periods, etc. for the entirety of its existence. Check out the Krakatoa eruption for an example of air pollution that causes some very temporary (one to two years) spikes in global temperatures. Read some more about geology. Then get back to us in about a year or so telling us what you have learned.
Oh, thatthingcanfly, you're an arm-chair lackey who doesn't even read...
There is absolutely NO DEBATE as to the real causes of global warming -- none. When there is a 98% scientific concensus that says man-made carbon dioxide is heating up the planet to the pointo of return, then I believe it. I live in a world of science, not political dogma. You tell me to stop listening to Al Gore... well... asshole, stop listening to the political right-wing that denies science to its core.
The reason why conservatives are so anti-global warming is because Al Gore proposed that very idea, on a national scale with his movie. So fucking what if Al Gore is a democrat. Did you ever think... he might be right, might be trying to do some good with his political clout? Since the conservative political movement is "everything opposite the democrats no matter what" then of course they'll deny global warming exists. They deny it because it is opposite the democrats. They'll deny it, even though they are completely wrong.
Up there, you say, "The climate has been going in and out of ice ages, mini ice ages, warm periods, etc. for the entirety of its existence." So what you're really saying is, "Why change our wasteful behavior?" Is that what you're really saying? You're saying we shouldn't... I don't know... heavily invest in energy efficient cars, homes, at all? You're saying there should be no nation-wide recycling initiatives to conserve our severely dwindling resources? You're saying we shouldn't preserve the last vestiges of nature we have remaining? You're saying that, since things are so good, right now, that we shouldn't do a single goddamn thing to preserve the envirement, and therefore the livelyhood of humanity?? Go fuck yourself, you ignorant piece of shit. At least I read scientific journals. At least I read.
"Read some more about geology." Sure thing, boss. The geological record is showing that CO2 levels are at their highest levels in over 10-million years -- and you think having that much carbon dioxide is NOT going to heat things up? You fuck-wit, environmental scientists are so freaked out by global warming they actually suggested using war-time military technology to regrow the Arctic ice-cap. How is that for a panic maneuver?
I love how these lackey arm-chair scientists bring up the meager gaps in scientific knowledge. There is no "God of the gaps" here. Just because there is one teeny, tiny missing link between human behaviour, and environmental result DOES NOT mean there is "lack of evidence."
Like I said up there: Go fuck yourself, you fat piece of shit. Don't come after my food, water, and provisions. I'll shoot you in the face if you approach.
Not much of this invective is worthy of a response. I'll say this much, though:
The yardstick by which we compare CO2 levels in rock striata is incremented in eons - hundreds of thousands of years. In any slice of that core sample, say a 10,000 year slice, you might observe highs and lows, peaks and troughs, some timed with sunspot cycles, some with periods of volcanic hyperactivity - you get the idea. There is a lot of statistical noise in the data; but the trends are measured in hundreds of thousands of years.
The global warming pseudoscientists claim that, in the roughly 150 years of mankind's industrial boom - a blink of an eye geologically - there has been sufficient observation and data collection to declare that humanity is causing an unusual epochal warming of the climate - globally, mind you, not in just some localized high pollution areas like New Dehli and Beijing - that would not have occurred if those mean old human beings hadn't started messing up the environment. This claim is false on its face, owing to the short time these observations span.
Even if the global warmists are eventually determined to be right 100,000 years from now, this would not change the fact that today, they're lying. These people are making a claim that is impossible for them to legitimately make. Even if it were true, the shortness of our data set prevents us from separating any real homogenic climate change from the statistical noise already present.
And I didn't use the f-word once!
Enjoy these hotlinks that state, unequivically, that global warming is real. Don't forget to downvote me for facts.
Cheers!
http://www.ipcc.ch/publications_and_data/ar4/wg1/en/spmsspm-direct-obser...
http://www.csmonitor.com/USA/USA-Update/2014/0122/Global-warming-trend-c...
http://www.universetoday.com/108358/latest-data-shows-global-climate-con...
http://news.fsu.edu/More-FSU-News/New-study-sheds-light-on-global-warmin...
http://climate.nasa.gov/evidence/
http://www.nature.com/news/climate-change-the-case-of-the-missing-heat-1...
SS, Yes, because in every previous ice age, cave-men were driving cars, using heating oil, and had Nat. gas power plants.
Oh wait...wrong fairy tale, man had none of these.
Your 98% scientific "concensus" (sic) is not even true. The planet has actually been cooling since 1998, which might actually validate the scientists' old global cooling beliefs of the 1970s.
Yes you do believe in political dogma, as you have only presented Democrat Party talking points and no actual "scientific" evidence for your claims. Your "science" isn't even science. It's regurgitated slop you're repeating from Bill Maher's writers, and you even admit from Al Gore's silly film. I'm freezing my ass off a decade later, while this twit said we would be burning up from the top of his scissor lift.
When you start posting actual scientific evidence, then I'll give you "I live in a world of science", but you don't. Become a scientist, then you can live in a "world of science". Put up or shut up.
I really can't stand people like this. The word "science" is probably one the most abused words in the English language right now. This climate change BS is just as politically motivated as the "scientists" who claimed that racial hygiene was "scientific" back the early to mid-20th Century. I used to drink the "science" koolaid myself, but after studying the Eugenics movement extensively, and the rivalry between the Bavarians and the Church, I realized that scientism is just the latest trendiest cult of BS out there.
Al Gore has been incorrect. His hockey stick argument with his scissor lift prop has been false thus far. The 2010s decade has been cold. Besides, if you hate big oil so much (and I have my own criticisms of big oil) why do you endorse Al Gore of all people? He was the executive of Occidental Petroleum, and all sorts of environmental and cultural disasters happened under his leadership. The man lives in a mansions, yet he wants you to live an eco-friendly ghetto apartment with CFL mercury filed bulbs and toilets that don't flush.
I would post moar, but I have to get going, because I have things to do today.
Cheers!
Links or it didn't happen.
Don't forget to downvote me for proving you wrong. But I guess you'll reject every hotlink supplied because two come from government sources.
http://www.ipcc.ch/publications_and_data/ar4/wg1/en/spmsspm-direct-obser...
http://www.csmonitor.com/USA/USA-Update/2014/0122/Global-warming-trend-c...
http://www.universetoday.com/108358/latest-data-shows-global-climate-con...
http://news.fsu.edu/More-FSU-News/New-study-sheds-light-on-global-warmin...
http://climate.nasa.gov/evidence/
http://www.nature.com/news/climate-change-the-case-of-the-missing-heat-1...
SS, would that be the same Govt. that provides us with numbers on unemployment, inflation, and spending?
Credit contagion: the other white meat
Those "Frackin Bastages" are ruining it for all of us - Unnamed Oligarch
I predict we will never see an end to ZIPR, so that Industry & the greater economy can continue to Frak.
After 6 Years of no interest on Savings & Checking Accounts & CDs... you have to have some conclusions about concern for Main Street.
- It was 50 Years of US Stock Market Obscurity, till like 1980 when stocks became interesting, but US Public Burned in the Original Stock Market Crash in 1929, eschewed Stock Equities
- But Technology Grew in Capital Ownership
- Computers & Automation & now Robotics came in
- Outsourcing & Off Shoring came in
- US Decapitalization became a Trend
- US Mergers & LBO became a Trend
- Many Visible means to Reduce Costs became Culture
- Today Still no hue and Cry about lost 6 Years for Fixed Income US Voters/Savers
- The Public was Fooled by Conflicting Policies starting in the 1970s with the Nixon Shock and Petrol Dollar
- Hidden Policies like the Monroe Doctrine of US Military Republic Remain little known even though older than 1823
- Ron Paul just made a statement that Foreign Police will Remain confusing, and therefore wasteful and corrupt
- US Savers are just one of the Victims of Executive Office Conflicted Policies and Lip Service to do what is best for all people
- Wealth Migration from the Middle Class & Poor to the .1% will continue, the effects are a certainty with current trends, trend analysis, and poor Democracy in USA
- Political System is broken, Free Press is Broken
- Federal Tax Policy Trend is less tax on Commerce & Wealthy, leaving the Biggest Corporate Welfare System in history to harvest the Wealth of ordinary people on Main Street
- Wall Street is so Crooked, Auditing is gone, Real Ratings are gone, to an Era of Replica Financial Instruments, Fraud Reigns Supreme, All Markets are Fixed
- $18 Trillion Exponential Federal Deficit, 6 years ZIRP for Savers, Endless Foreign Wars, Free & Full Charters for TBTF Banks to Create Money from thin air, Endless Fraud, Endless Lobbying delays legislation then buys the Legislation, Endless Free Trade to Slave Labor which can be hidden anywhere it turns out, Endless Monopolies as Lobbying Props up and effectly overturns Teddy Roosevelt to where it like Roosevelt was never born
- The Money Trust not taught in Schools, the Folly of US Stock Markets not taught in Schools,
What set USA apart from Third World Countries was:
- Interest on Savings or CDs
- Success in Financial Markets in a Modern Era
- Strong Wages that allowed workers to buy cars, houses, houses, Stereos, Computers
- Strong Manufacturing. Pride in USA Autos.
- Military Strength, Great Weapons, Strategic Locations
- US Inventiveness/Creativity
- US Equality, Credit for all who could work, Justice for those that stayed out of Trouble
- The Illusion that US Politics worked, that social programs would now help the poor, sick or elderly, that politics were inclusive, that Education systems were Honest, that we had a Free Press
- And the USA had Civil, Individual, and Human Rights and that they were permanent in our Justice System protected by the DOJ, FBI, SEC, FTC, GAO, CBO, FINRA, FDIC, Treasury, FED, OCC... and our Bank Examiners & Government Employees
Bottom Line: US has become Europe of the 1960s at best or maybe is now a Third World Type Country.
"At first, people were ticked that the landscape was littered with FERNS like so many discarded cigarette butts. They picked them up, at first, but finally gave up.
"However, sice TP was no longer avaialble except to Cheryl Crow, the FERNS did their duty.
"Hootch, cigs, bic lighters were big trade items then. TP was King, of course.
"Everyone had a stash of FERNS in the bathroom. It was the polite thing to do."
Will this set off another round of Tax-Payer Bail-Outs?