Thursday, November 13, 2014

Unemployment Benefits Rose More Than Forecast, Simply A "Pause" -- Reuters -- November 13, 2014

The daily activity report for yesterday was posted this morning by NDIC; the summary has been posted. Of note: five OXY USA permit cancellations. 

Active rigs:

Active Rigs188182190201158

RBN Energy: ethane. Way too much. Way more than even RBN Energy predicted. What to do with it all?

Natural gas fill rate: numbers will be released tomorrow.

For Investors

Warren buys Duracell from P&G; a case study in how to minimize taxes on capital gains.

This is not an investment site. Do not make any investment, financial, or relationship decisions based on what you read here or what you think you may have read here. Make no travel plans based on what you read here. I post quickly and frequently; typographical and factual errors are likely. If this information is important to you, go to the source.

The market is off to a good start. BRK-B trading at new highs. UNP flirting with new highs. SRE down a big, again. With regard to SRE and LNG, the Financial Times is reporting:
Would-be exporters are striking a confident tone. Sempra Energy, which plans to build a $10bn LNG project in Louisiana along with GDF Suez of France and Japan-based Mitsubishi and Mitsui, says customers seek the “stability and continuity” of US supplies.
“And we really haven’t seen that interest abate even as we’ve seen oil prices fall in the last few days here,” says Sempra president Mark Snell.
Sempra does not anticipate cutting a ribbon on its project until 2018.
“It was a misperception to believe that oil-linked prices would always be high and spot gas prices always low,” says Jason Bordoff of the Center on Global Energy Policy at Columbia University.
“And a short-term dip in oil prices does not tell us where oil prices will be when US LNG exports start up in large volumes several years from now.”
The best news: by 2018, there will be a new president in the White House.

Jobs Report

Reuters is reporting:
Applications for U.S. unemployment benefits rose more than forecast last week, representing a pause from a recent run of readings close to a 14-year low.  
How bad was it? Up 12,000. Generally the swing is well under 6,000. But to make the number seem not so bad, Reuters has a new benchmark: 300,000.
Jobless claims increased by 12,000 to 290,000 in the week ended Nov. 8, the highest since Sept. 20, a Labor Department report showed today in Washington. The median forecast of 53 economists surveyed by Bloomberg called for 280,000. It was the ninth straight week claims have been less than 300,000. 
Volatility? Yes, the four-week average, in the very last paragraph of the article, rose:
The four-week moving average, a less volatile measure than the weekly figures, rose to 285,000 last week from 279,000. 
I assume Reuters hoped folks would not read to the end of the story.

Polar Vortex, Early November, 2014 (unnamed)

All 50 states brace for freezing weather.  This, despite the fact that atmosphere CO2 exceeds the magic number of 400 ppm.

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