The Closer -- T+13, February 2, 2017

Eight (8) DAPL protesters: guilty as charged.

• no jail time (good); no taxpayer money wasted
• fines: $1,250 - $1,685 (fines higher than one defense attorney has seen in 20-year career; don't cry: will be paid by George Soros, Michael Moore, et al)
• special prosecutor will ask for bigger fines for later, more violent crimes
• defense attorneys were "aghast" at size of fines; generally $300 for Class B misdemeanors
• special prosecutor has no plans to drop majority of 600 cases

More on the way: another 76 DAPL protesters arrested in last 24 hours, camping on private land.

Is the era of oil and gas megaprojects over? From Rigzone:

When oil was trading at $18 to $20/barrel in 2001, companies were making more money in terms of percentage of profit compared with 2012, when oil prices were trading at more than $100/barrel.

ObamaCare legacy, an open book test: contractors.  From The Wall Street Journal:

Never before have American companies tried so hard to employ so few people. The outsourcing wave that moved apparel-making jobs to China and call-center operations to India is now just as likely to happen inside companies across the U.S. and in almost every industry.

The shift is radically altering what it means to be a company and a worker. More flexibility for companies to shrink the size of their employee base, pay and benefits means less job security for workers. Rising from the mailroom to a corner office is harder now that outsourced jobs are no longer part of the workforce from which star performers are promoted.

For companies, the biggest allure of replacing employees with contract workers is more control over costs. Contractors help businesses keep their full-time, in-house staffing lean and flexible enough to adapt to new ideas or changes in demand.

California taxpayers, Calpers and Clstrs, catastrophe. From The Wall Street Journal:

The board of the nation’s second-largest pension fund voted Wednesday to drop its investment target from 7.5% to 7% over two years, driving up pension costs for the state of California and some of its teachers.

The move by the California State Teachers’ Retirement System is more aggressive than a recommendation made last week by its outside consultant Milliman, which suggested a pullback to 7.25%.

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Something To Think About

Natural gas, from EIA today (a dynamic link)

Working gas in storage was 2,711 Bcf as of Friday, January 27, 2017, according to EIA estimates. This represents a net decrease of 87 Bcf from the previous week. Stocks were 266 Bcf less than last year at this time and 59 Bcf above the five-year average of 2,652 Bcf. At 2,711 Bcf, total working gas is within the five-year historical range. 

Think about that. Warmists tell us this was the second warmest winter on record for the US and yet:

• stocks of natural gas were 266 Bcf less than last year at this time; and,
• only 59 Bcf (statistically meaningless) above the five-year average of 2,652 Bcf

Not much margin for unforeseen emergency (as recently seen in California).

Something To Think About, Willie Nelson