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Thursday, September 4, 2014

Active Rigs Back Up To 196; New Jobs Down -- September 4, 2014

Active rigs:


9/4/201409/04/201309/04/201209/04/201109/04/2010
Active Rigs196188192198146

RBN Energy: Enbridge Line 9 reversal.
Enbridge expect their Line 9 reversal to be complete in October 2014. By the end of 2014 this pipeline will deliver 300 Mb/d of mainly light crude to two refineries in Quebec. But the Line 9 reversal will likely not have capacity to ship any crude for export – either from Canada’s East Coast or via the Portland-Montreal pipeline to Maine. Significant crude deliveries east of Quebec will have to wait for TransCanada’s Energy East pipeline in 2018. Today we explain why in the final episode of our series on feeding crude to eastern Canadian refineries.
Job Watch: same ol', same ol' -- claims up; economy on course. Hiring slows but Obama press says growth remained consistent with a sturdy economic performance.
U.S. companies hired fewer workers than expected in August, but the trend in job growth remained consistent with a sturdy economic performance in the third quarter.
That view was reinforced by other data on Thursday showing only a slight increase in the number of Americans filing for unemployment benefits last week and a decline in the trade deficit to its lowest point in six months in July.
The numbers: 
  • New jobs, expectation -- a gain of 220,000 jobs; actual: 212,000 jobs
  • Unemployment claims increased unexpectedly, up 4,000 to 302,000 
Several headline data points at Drudge today regarding jobs:
  • nearly 1 in 10 workers in California are illegally here in the United States
  • all job gains in North Carolina since 2000 went to immigrants
  • Obama signs agreement with Mexico to ensure "workers rights" regardless of legal status

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