Wednesday Morning Links, News, And Views

Active rigs: 187

Wells coming off confidential list have been posted. 

RBN Energy: summer electricity spikes in NYC. I wonder how that wind/solar generated electricity is working out.

I am traveling today, so blogging infrequent. 

BLM says "ok" to new Bear Den Pipeline. The Dickinson Press is reporting:

The Bureau of Land Management has released a finding that there would be no significant environmental impact from the proposed Bear Den Pipeline project in western North Dakota.

The agency conducted an environmental assessment of the project, which would gather crude oil from wells in McKenzie and Dunn counties south of Lake Sakakawea and deposit the oil at a central storage and transfer facility south of Watford City near Highway 85.

The pipeline will have a capacity of up to 14,000 barrels of oil per day.

The pipeline also will transport up to 3,500 barrels per day of water produced from numerous wells to a disposal well regulated by the state.

A talking head notes that the president pivots for the 19th time on jobs. I don't know. I've lost count. I assume "19" will be the lucky number and this week's numbers -- out tomorrow -- will blow folks away.  Apparently, according to the president, no administration in the history of the United States has created as many jobs as his has. I don't have the link for that -- I'm traveling, and no time to search -- and he probably didn't really say that, but it wouldn't surprise me if he did. [Later: his first speech bragging on all the jobs he created. LOL.]

But there is a link for this factoid: Two Americans Added to Food Stamp Rolls for Every Job Administration Says It Created.

I see Yahoo!Finance still doesn't have the "oil price thingy" fixed at their site; it went down sometime yesterday and is still uncorrected; shows oil up 9 cents at $107. Bloomberg currently has WTI oil at $106.09, down about a dollar. 

But here is the spin for the day:

People in Spain, Greece, Russia and China are down on America. That’s not surprising. But Americans are down on America too, and the trend, paradoxically, seems to be getting stronger as working and economic conditions improve.

President Clinton always said the American people can sort out the truth, and it appears, regardless of the mainstream media spin, the majority of Americans haven't seen much (any?) improvement in the past four or five years. Wall Street has done quite well; Main Street has not done well at all, and with O'BamaScare, the EPA, and the president's new emphasis on jobs (think crony capitalism, and renewable energy), they might be right. Again.

This may be one reason Americans are "down and out":  health care accounted for almost 20% of US GDP in 2011, it will be much worse when O'BamaScare kicks in. That's a fack, Jack.  The graph at the link is downright scary. The rest of the OECD: about 10% of their GDP was related to health care.

Doomsday: US Cities

Chicago: bond rating downgraded. I think Chicago may be in deeper trouble than Wall Street recognizes.

Detroit:  for the moment, the bankruptcy case proceeds. Shenanigans halted by US federal court.

Meanwhile, now that the budget is out of their hands, the Detroit City Council can spend more time on other pressing issues. In this case: calling for a federal investigation of George Zimmerman/civil rights.  Why, you ask?

It takes their mind (and the minds of their constituents) off more serious matters. It keeps them in the limelight -- helps them garner support of the Black Caucus which they will sorely need to save their pensions. It is my understanding that not one member of the Congressional Black Caucus has introduced a bill to bailout Detroit. Not good news.