Thursday, January 5, 2017

Re-Posting: Job Growth Anemic And It Was All In Services -- Think Fast Food; Manufacturers Lost Jobs; Also Note Huge Miss By Economists (Again)-- January 5, 2017

Jobs:
  • first-time claims fall sharply: 28,000 to seasonally adjusted 235,000; lowest level since mid-November; second lowest since late 1973; economists expected 260,000 initial claims -- another huge miss; four-week rolling average fell by 5,750 to 256,750
  • another poor payroll add: private payrolls climbed by 153,000 (see magic numbers); forecast was 175,000; the November number was revised to a 215,000 gain; manufacturers reduced headcounts by 16,000; service providers increased by 169,000

Disclaimer: this is not an investment site. It is also not a music site, and it certainly is not a dance site.

For oil and gas sector investorsFrom 24/7 Wall Street: Merrill Lynch’s 5 Top Large Cap Oil and Gas Stocks for 2017 --
  • Anadarko Petroleum
  • ConocoPhillips (one of top five operators in the Williston Basin)
  • Continental Resources (ditto)
  • Hess (ditto)
  • Devon Energy
When one looks at that very, very short list, I see "Bakken" more than "Permian."

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CO2 Rise Is Surging -- 
Not From Cow Farts But From Volcanic Activity

Hawaii's Kilauea (pronounced "kill-a-whale" but like French, the "l" is silent) is spewing CO2 into the atmosphere. Hawaii's most active volcano is currently putting on quite a show, as noted over at CNBC this morning.

For those actually following the science, from livescience.com:
Until the end of the 20th century, the academic consensus was that this volcanic output was tiny — a fiery speck against the colossal anthropogenic footprint. Recently, though, volcanologists have begun to reveal a hidden side to our leaking planet.
Exactly how much CO2 passes through the magmatic vents in our crust might be one of the most important questions that Earth science can answer. Volcanoes may have been overtaken in the carbon stakes, but in order to properly assess the consequences of human pollution, we need the reference point of the natural background. And we're getting there; the last twenty years have seen huge steps in our understanding of how, and how much CO2 leaves the deep Earth. But at the same time, a disturbing pattern has been emerging.
In 1992, it was thought that volcanic degassing released something like 100 million tons of CO2 each year. Around the turn of the millennium, this figure was getting closer to 200. The most recent estimate, released this February, comes from a team led by Mike Burton, of the Italian National Institute of Geophysics and Volcanology – and it’s just shy of 600 million tons. It caps a staggering trend: A six-fold increase in just two decades. 
These inflating figures, I hasten to add, don't mean that our planet is suddenly venting more CO2.
Humanity certainly is; but any changes to the volcanic background level would occur over generations, not years. The rise we’re seeing now, therefore, must have been there all along: As scientific progress is widening our perspective, the daunting outline of how little we really know about volcanoes is beginning to loom large.
I suppose if they could "plug" erupting volcanoes with farting cows, warmists could kill two problems at one time. 

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