Happy Fourth Of July Week -- Last Day Of The Quarter -- June 30, 2014

Supreme Court: I haven't seen the stories yet but I'm told the Supreme Court ruled on a) unions; and, b) birth control pills. Based on what I've heard, these could be "good news" stories. Yes, here they are, both reported in The Los Angeles Times:

• The Supreme Court deals a blow to Obamacare by ruling 5-4 that closely held businesses whose owners object to birth control may refuse to include it in their employees' insurance.
• In a 5-4 ruling that is a setback for unions, the court says such employees have a constitutional right not to support a union they oppose.  

US pending home sales high 8-month high in May.

Active rigs in North Dakota:

	6/30/2014	06/30/2013	06/30/2012	06/30/2011	06/30/2010
Active Rigs	191	189	215	173	129

RBN Energy: first in a series on changing role of crude oil storage along the Gulf Coast.

The Wall Street Journal

Militants leverage Iraq gains in Syria -- the Islamic State of Iraq and al-Sham is expanding its foothold and footprint in Syria after recent gains in neighboring Iraq, intensifying its clashes in Syria against other Islamist rebel factions.

Another legacy of the Obama administration: refugee camps in the US? Obama seeks border control funds to respond to the surge in children and other migrants from Central America.

Which reminds me of a story elsewhere that folks in Detroit are asking for UN support because they are without water.

Restaurants are looking for ways to respond to high beef prices: Eat more chicken.

"Heard on the Street": higher oil prices pose a threat to the US economy, but not as much as they might have historically. That owes something to North Dakota, but more to Detroit.

Higher oil prices threaten the U.S. economy, but not like they used to.

North Dakota is a reason for that.

Changes in America's car industry and driving habits are bigger ones.

Amid sectarian violence in Iraq, oil prices have risen, and it isn't hard to imagine them going higher. That is unwelcome for a U.S. economy still struggling to find its footing. Starting with the downturn set off by 1973's oil shock, higher energy prices have been a constant factor in U.S. recessions. But the economy isn't what it was in 1973, or even in 2007, when rising gasoline prices added to strains on U.S. household spending power.

One difference is the shale boom. The U.S. now produces over eight million barrels of oil a day, up from five million in 2007. So when Americans pay more at the pump, more of what they pay ends up back in the pockets of other Americans. A shift in U.S. energy consumption toward abundant natural gas provides an additional offset.

The Los Angeles Times

Top story, front page: militants declare Islamic state in Iraq, Syria. ISIS announces that it is re-branding itself as simply the Islamic State because it has broken down borders with quick seizure of land in eastern Syria and northwestern Iraq. It was my understanding that the Obama administration was supporting the rebels in Syria against the Assad regime. Time to get out the score cards again. SecState will have to add another country to his list of those to which he will travel. Eventually an apology tour from the US president on all the injustices inflicted on that region by Americans.

Border crisis complicates immigration reform effort. Well, duh. Actually for some folks, especially those from Guatemala they already see the reform they were hoping for: open borders. 

This is intereting: we can see this bridge out our back door in San Pedro -- The Long Beach Port Bridge. There is a huge construction program going on -- started this past year or so. Now I see that the project has been delayed at least a year (and it has barely gotten started).

The $1.26 billion project to replace the Gerald Desmond Bridge delayed at least a year, officials say

Already $300 million over budget, Long Beach bridge delay blamed on design issues

The massive $1.26 billion project to replace the ailing Gerald Desmond Bridge in Long Beach will be delayed at least a year, port officials announced.

Originally expected to open by the end of 2016, port officials say the bridge that will rise over its port won’t be completed until late 2017 or early 2018.

The delay has been attributed to design issues, including delays in obtaining approval for designs from Caltrans officials, who have the ultimate authority over plans.