KOG's Smokey Wells And CLR's Wahpeton Wells Have Been Updated

KOG's Smokey wells have been updated with screen shot of the horizontals.

CLR's Wahpeton wells have been updated with screen shot of the horizontals.

Banks oil field has been updated.

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ObamaCare

Regardless of what side of the aisle you are on, this is a great editorial on ObamaCare from the weekend edition of The Wall Street Journal. 

A bit from a very, very long article:

As the CBO admits, that's a "substantially larger" and "considerably higher" subtraction to the labor force than the mere 800,000 the budget office estimated in 2010.

The overall level of labor will fall by 1.5% to 2% over the decade, the CBO figures. Mr. Mulligan's empirical research puts the best estimate of the contraction at 3%.

The CBO still has some of the economics wrong, he said in a phone interview Thursday, "but, boy, it's a lot better to be off by a factor of two than a factor of six."

The CBO's intellectual conversion is all the more notable for accepting Mr. Mulligan's premise, which is that what economists call "implicit marginal tax rates" in ObamaCare make work less financially valuable for lower-income Americans.

Because the insurance subsidies are tied to income and phase out as cash wages rise, some people will have the incentive to remain poorer in order to continue capturing higher benefits. Another way of putting it is that taking away benefits has the same effect as a direct tax, so lower-income workers are discouraged from climbing the income ladder by working harder, logging extra hours, taking a promotion or investing in their future earnings through job training or education.

The CBO works in mysterious ways, but its commentary and a footnote suggest that two National Bureau of Economic Research papers Mr. Mulligan published last August were "roughly" the most important drivers of this revision to its model. In short, the CBO has pulled this economist's arguments and analysis from the fringes to center of the health-care debate.

For his part, Mr. Mulligan declines to take too much credit. "I'm not an expert in that town, Washington," he says, "but I showed them my work and I know they listened, carefully."

It's hard to read, I suppose, but the bottom line is this: ObamaCare will help America move toward the Greek model of economics -- laid back and enjoying it, relying on immigrants to fill the gaps. 

From the op-ed:

"When you pay people for being low income you are going to have more low-income people."

And to where do low-income people migrate?

It won't happen overnight, but eventually these folks will move to the south where inexpensive energy will offset rising health care premiums and deductibles. The cost of living has historically been much lower in Florida, Alabama, Mississippi, and Texas compared to New England, New York City, and Baltimore. Folks will enjoy a Mediterranean lifestyle because it will become acceptable. It will be a disincentive to earn more money; earning even an extra dollar at the margins could cost one an additional $20,000 in health care premiums for one's family. Breadwinners will weigh a raise in salary or wages against the increase in taxes and health care expenses. 

Obamacare will keep wages down, and, in fact, immigration will be needed to keep the country functioning. Employers will be the big winners:

• they can now budget; they will cost shift their employees to a national health care program
• they won't be pressured to increase wages; it will simply cost their employees more in premiums
• immigrants have historically accepted lower wages as a condition for living in the United States

Of the three, the ability to budget is absolutely, without question, the most important.

Disclaimer: this is not an investment site; do not make any investment decisions based on what you read here or what you think you may have read here.

Everything about ObamaCare suggests the gap will widen between the "haves" (investors) and the "have-nots" (the non-investors).