Tuesday, March 17, 2015

OXY USA Posts Another ... OXY USA Well -- March 17, 2015

Three of four wells go to DRL status, and OXY USA has another ... drum roll ... OXY USA well.

And The Blame Game Begins

Did misleading EIA statements send oil into freefall? OilPrice.com reports. I don't know if Oil Price has a history of archiving their articles. How this plays out is yet to be seen.

Printing Money

It appears to some that the only difference between Greece and the US is that the latter can print its own money. The US reached its debt limit this week. So has Greece.

Funny How Folks See Things

There will be a lot of discussion about ObamaCare's new numbers, but the fact remains: ObamaCare is high-priced catastrophic health insurance. The health care industry is going to do very, very well because of ObamaCare. Folks are paying high premiums but will seek less medical care because they cannot afford the deductibles or the co-pays. "Bad policies" -- those that consumers liked but health insurance companies did not like, were deemed "illegal" under ObamaCare and those were the policies folks lost.

The stories from the administration coming out now are to help sway the Supreme Court. IBD.com is reporting:
The Obama administration says more than 16 million have gained insurance, thanks to ObamaCare. But a closer look at the numbers shows they're once again playing fast and loose with the data.
A two-page report from the Dept. of Health and Human Services claims the uninsured rate fell from 20.3% to 13.2% since ObamaCare began.
Officials there cheered this news, with one saying that "nothing since the implementation of Medicare and Medicaid has come close to this kind of change."
It's not what it seems. To get to its 16 million number, HHS uses Gallup poll data — not the Census Bureau's far more comprehensive survey — for its calculations.
Gallup does show a drop in the uninsured rate. Although its numbers differ from the administration's, it finds that the rate dropped from around 17% in 2013, where it had been since 2011, to 12.9% in Q4 2014.
Whatever numbers are used, the administration conveniently overlooks the fact that those years of high uninsured rates were also when the economy was in the middle of Obama's jobless recovery.
I remember when I first started talking about the "Affordable Care Act," I was taken to task for calling it ObamaCare by Obama apologists who monitored the blog for accuracy. LOL. Now, "everyone" calls it ObamaCare .... except the White House. 

Disclaimer: this is not an investment site. Do not make any financial, investment, or relationship decisions based on what you read here or what you think you may have read here. Just remember, the health insurance industry wrote the Affordable Care Act. By the way, the editorial in yesterday's Los Angeles Times suggesting a middle ground as an option for the Supreme Court completely misunderstands the issue.

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