Saturday Morning -- Now The Rest Of The News; From The Land Of Ice And Snow --Statoil And Peak Oil?

Dismal jobs report unlikely to alter Fed's tapering. Oh, boy.

Yup, as I've said often: Keystone XL is Kerry's call. He will flip-flop at the last moment. And I have no idea on what foot he is standing today, his left foot or his right foot when it comes to the Keystone. I think Kerry knows that a speech with vision will prove him a statesman; on the other hand, simply saying "no" will forever mark him as a dud.

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China announces huge stimulus program. This will move the market.

GM trucks sales slump in January; offers huge discounts; another data point that questions strength of US economy.

Ten stocks to hold in a market downtown: ATT, Aflac, Allstate, Apple, Bank of Nova Scotia, Chevron, Cisco Systems, IBM, Royal Bank of Canada, Wells Fargo.  [Two Canadian banks, one major oil company, ATT (not Verizon), and a fruit. A very interesting list.]

Rigzone

The Immigrant Song, Karen O, Trent Reznor

Statoil to join other European oil companies and cutback on CAPEX for 2014:

Norway's Statoil became the latest European major to announce it would be keeping a lid on its capital spending plans in the short-to-medium term as it reported its fourth quarter results Friday.

Statoil said that it planned to invest an average of $20 billion per year between 2014 and 2016, which it said was approximately eight percent smaller than previously estimated.

Statoil's decision to keep a lid on capital spending comes after Royal Dutch Shell's announcement at the end of January that it would be making "hard choices" about new projects in 2014 and that it would be spending only $37 billion this year compared with $46 billion in 2013.

In October, BP said it would spend no more than $25 billion on capex in 2014 after having previously stated that it could spend as much as $27 billion.

Its move to limit capital spending suggests that Statoil will now struggle to achieve the 2.5 million barrels of oil equivalent per day (MMboepd) equity production that it had previously been targeting for 2020. The firm said that it delivered equity production of 1.94 MMboepd in 2013 (2012: 2 MMboepd) and that it now expects to achieve around three percent average rebased organic production growth between 2013 and 2016.