Whiting Has Several Spectacular Wells; WTI Oil Back Up Over $103/Bbl (Posted The Day Before The Iraqi Insurgency)

Wow, wow,wow: Cleveland Clinic chief declines VA job. Smart man.

Moving the goal posts: I could be wrong but it was always my understanding that "full" employment was an unemployment rate of 4% or less. The mainstream media is changing "full" employment to "the norm." The mainstream media has also moved the goal posts from 4% to 5% unemployment. I do believe most folks now know that the "new norm" is 6% unemployment, and "full" employment will never again be seenag in my investing lifetime. In fact, the linked article suggests the unemployment rate is likely to rise, giving us a "new norm," but never mentioning "full" employment. The AP is reporting:

The unemployment rate has been on a slow downward trajectory since the recession ended nearly five years ago. While the overall jobless level has dropped to non-recession levels, the number of the working-age people with jobs is barely over 6 in 10, hovering at a level reminiscent of the late 1970s.

In May, the U.S. workforce-participation rate — the combination of those with jobs and unemployed workers actively seeking them — was just 62.8 percent, the same as the month before. Job markets have been essentially flat since October. [MDW has been noting this for two years despite what Reuters and the AP were saying previously.]

It may be quite a while before the jobless rate falls back to 5 percent and below, long the informal standard pegged by economists as a typical employment level for non-recession times.

But 5 percent may no longer be the norm.

Wal-Mart wages in Williston, via Carpe Diem.
 
Whiting: In case you missed it, Whiting reports a number of good wells today:

• 25354, 1,179, Whiting, Mork Trsut 21-17-5H, Pleasant Hill, t12/13; cum 39K 4/14;
• 25355, 2,061, Whiting, Mork Trust 21-17-4H, Pleasant Hill, t11/13; cum 36K 4/14:
• 25356, 2,065, Whiting, Mork Trust 21-17-3H, Pleasant Hill, t11/13; cum 49K 4/14;
• 25357, 2,069, Whiting, Mork Trust 21-17-2H, Pleasant Hill, t11/13; cum 49K 4/14:
• 25389, 887, Whiting, Kessel 41-26PH, Zenith, t12/13; t12/13; 45K 4/14;
• 25390, 1,117, Whiting, Kessel 21-26PH, Zenith, t12/13; cum 40K 4/14;
• 25391, 1,263, Whiting, Kessel 11-26PH,  Zenith, t12/13; cum56K 4/14:

Oil is up over a dollar/bbl; trading above $103/bbl again.

Renewable energy. This graph says it all. 

Active rigs:

	6/9/2014	06/09/2013	06/09/2012	06/09/2011	06/09/2010
Active Rigs	193	189	213	169	120

RBN Energy: takeaway capacity in the Permian; the series continues.

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AAPL. Wow, this guy is in trouble. 

The Wall Street Journal

General Motors' recall related to defective ignition switches is attracting lawyers who forged some of the biggest civil settlements ever, from the landmark tobacco litigation to the Exxon Valdez.

Bergdahl. Loser.

Obama will expand student-loan forgiveness program. By executive order.