By TIMOTHY PUKO
Natural gas prices were giving back most of the prior session’s gains on expectations for strong supply.
Natural gas for July delivery fell 6.9 cents, or 2.4%, at $2.781 a million British thermal units on the New York Mercantile Exchange.
Money managers have been strongly positioned in favor of falling gas prices, but the market has been resilient. Power plants have ramped up demand and there are signs that production may be in slight decline after a period of rampant growth. Prices rose 3% on Thursday as government data showed the smallest weekly surplus in more than two months and analysts said the market had come into balance.
But many believe that balance won’t last. The U.S. Energy Information Administration also said on Thursday that production had grown 1% this week despite pipeline shutdowns for maintenance. Production is back at its near-record pace of 72 billion cubic feet a day, EIA said, citing the data provider Bentek Energy.
Friday’s quick reversal in the market is also a sign that traders haven’t fundamentally changed that widespread bearish view, analysts said.
Money managers have had about five bearish positions for every three bullish positions, and that balance can lead prices to rise quickly if bearish traders close out their positions by buying back a gas futures contract.
The ng supply is an enigma.
Grinning "big stick" Joe.
Trump is going to bring trade policy to the Republicans debates. Which is a good thing.
Love PhD Laffer but he is dead wrong about sustained trade deficits. Capital flows back as excess liquidity and asset inflation. Asset bubbles.
It might work if America had pro-growth economic policy. Which is very far from Obama's failed European no growth delusions.
So childish. All you need to do is look at the deductibles and how they are growing.
There are three components to consumer price. Premium, co-pay and deductible. We should also add absurdly restricted network choice.
The deductibles are so high, poor people can not afford healthcare access.
Progressives are liars by their nihilistic philosophy. It is more important to win than to govern like a mature adult. If you did care you would be worried about the failures and short comings of Obamacare. But you do not.
Obamacare was political will and childish vainglory. So rather than fashioning a working policy to deliver healthcare access to poor Americans, we have an unworkable mess.
One thing is very certain. For $3+ an American, we can fashion much better policy. A personal health savings account with socialize catastrophic insurance would be far superior.
Then you would have efficient healthcare choice and poor people seeing the doctor when they should.
Then you could have a competitive market place for those consumer dollars.
Let Costco and their merchants do the negotiating.
The debilitating irrational economics and spirituality are not equal.
If the Republicans followed the common sense of their voters, America would surge like we did with Reagan.
Also, if fellow Americans impose the wildly corrupt and vainglorious Hillary?
There is a huge gulf in rationality. If human beings wish to work together for a productive purpose, we must be rational.
By CHRISTIAN BERTHELSEN
The oil-tanker market is heating up, a development some analysts say is a warning flare that signals further price declines for crude.
The Baltic Dirty Tanker Index, which tracks the rates to hire oil tankers plying 16 routes, has shot up 25% this month, as global oil output continues to grow. The index is now at its highest level since January 2014.
But an increasing number of these oil cargoes have nowhere to go. Oil producers and traders are rushing to lease tankers while they scramble to find buyers, effectively turning these ships into floating storage facilities. The oil-supply glut has worsened since the Organization of the Petroleum Exporting Countries earlier this month decided to maintain crude-output levels.
A recent rebound in oil prices has stalled amid copious supplies world-wide, and many market watchers are bracing for the resumption of a selloff that sent Brent crude, the global benchmark, tumbling to a six-year low in January. On Thursday, Brent fell 29 cents, or 0.5%, to $63.20 a barrel. A year ago, a barrel was $114.
“There’s a lot of crude oil that’s trying to find a home, so that’s good for the tanker market,” said Olivier Jakob, managing director of Petromatrix, a consulting firm based in Zug, Switzerland. But “that limits the potential for a crude-oil rally and puts pressure on the price.”
Sorry Mr David Webb here is the ethnicity thought.
Talkin' Blues Clarence "Gatemouth" Brown interview
Texas is different.
Willfully ignorant and now once again hate fill Progressive Prancing Bear.
What was a lie? Obama lied. Gruber was proud to lie. Progressive Senate leader was very proud he lied and won and election.
To you really imagine we can keep our Republic secure if lying by the elite is acceptable?
You know better and this is what makes young angry.
No gpd, to claim social security are working now is simple brute ignorance.
I did some good for some people by lying to the younger people. SS and medicare can not be sustained as they are simply due to demographics. So politicians stole from young people to buy votes today.
We have been through the true 'nature' of the 'trust' fund. Hey you can go write yourself an iou for $1 million. Does this make you a millionaire?
It is interesting how the condition of willful ignorance so easily turned to real visceral bigoted hate. As you are now. Not healthy for you or America.
Funny thing about Lutherans. Popes feathers and all are not a big thing.
Well to remember as well it was the Supreme Court with gave us Dread Scot.
The Pope does make me very sad. For if we burden the Western economies like Spain and Germany? While understanding full well it does to change the Climate Control hypothesis?
Any idea how many human beings must use #$%$ for fuel? How much bio mass is destroyed for basic fuel?
I am not angry about this good humble Pope getting into matters he clearly is not competent to understand. Rather I pray his eyes will be opened. This is a grave mistake which will hurt human beings. Especially the poorest.
He really should review this bio-fuel delusion. Corn ethanol being the most destructive and deadly.
It would open his eyes to political power and greed and resulting death. I am sure this good Pope would have a very different opinion if he reviewed the lesions from American corn ethanol.
Doctors can not handle the illogical reporting and compliance requirements. So they are selling their practices to large providers and retiring.
While we still have the medieval guild control on supply of doctors. This could not be addressed to get the AMA. AMA which speaks for few doctors but some how seems too. Seems too is what was politically important.
So any competition on quality or price is disappearing into another massive oligopoly. The Progressive 1% loves oligopolies. This is what the market told us when Obama 'won'. Large healthcare companies had massive moves up in share price.
Now I know it is difficult for a emotional Progressive so easily turned hateful. If the hospital pays, it is in the bill or if insurance pays it is in the premium, we pay the bill. The real economic cost does not go away simply because in you lack of reason, so one else paid the bill.
In fact, the emergency rooms visits are increasing because the narrow networks Obamacare mandated do not work.Americans can not get access to care when they need it.
#$%$ government run insurance is not access to care. This is what is proven.
But then Progressives are very proud of their deceptions and lies. Which is how we have the new word Grubering.
BUt I will thank you for further illuminating another facet which alone insures Obamacare will implode.
There were not enough doctors to make all these additional services possible. Further, doctors can just sell their practices and retire. Which they are.
It is the nature of this most arrogant command and control antiquated thinking and beliefs. This is exactly why it will fail.
OLB crazy about off topic comments.
Unless of course it is our Supreme Court upholding 'law' passed by wanton deception and abuse of procedural power, never supported by a majority of Americans. Which certainly would no pass Congress today.
YOU think our government is wildly out of control now. No responding to the peoples will? Wait to Hillary gets elected.
We may have reached the point where the majority voters are not virtuous. In which case our Republics is doomed.
by Steve Moore
So let’s see whether anything he says on the new law, including that it “is working,” comports with the facts:
● No “adverse effect on people who already had health insurance.”
In 2013, as Obamacare’s policies were phasing in, nearly 5 million policyholders across 31 states and the District of Columbia were notified that their current coverage was being discontinued. This doesn’t include nearly 20 states that weren’t tracking these numbers so the total could have been several million more. In California alone, 1.1 million policies were canceled.
In March, the Congressional Budget Office (CBO) estimated that Obamacare will result in a total of 1 million fewer people enrolled in employment-based coverage in 2015, increasing to 8 million fewer enrolled in employment-based covered by 2018. That’s a lot of people who haven’t been able to keep the health insurance that they like.
● “The overwhelming majority of people are satisfied” with the new law.
Real Clear Politics has reviewed the major polling results on ObamaCare over the last two months. It finds that the average result is that 43% of Americans support the law and 53% oppose it. A May Gallup poll found more than twice as many respondents (24%) say the law has hurt their families than say it has helped them (10%). Most say it has made no difference. This sounds a lot more like dissatisfaction with the new law.
● “Health care inflation overall has continued to be at some of the lowest levels in 50 years.”
Oh really. The costs to Americans for health insurance in the new ObamaCare era are soaring across the country. The latest numbers for premium increases show the following dismal news for families. In California, approved rate increases going into effect this year are running up an average of about 10%, or five times the rate of inflation (which actually turned negative in the most recent 12 months). In Florida, 33 of 36 approved rate hikes were greater than 10%.
Next year might be even worse. In Ohio, the average rate increase request for 2016 is 17.8% as of June 9, 2015. In Virginia, the AETNA Life Insurance Company small group plan proposed an increase of 59.71%. In Texas, more than half of the rate hike request are greater than 20%. In Illinois, the popular Blue Cross Blue Shield Preferred Individual plan wants a 38% rate hike. Numerous other plans costs will rise by 50%.
● “We haven’t had a lot of conversation about the horrors of Obamacare because none of them have come to pass.”
President Obama must not listen to young people. An analysis by my colleagues Ed Haislmaier and Drew Gonshorowski at The Heritage Foundation finds that removing ObamaCare regulations for those in their early 20s would lower health insurance by 44%. Much of this cost differential stems directly from the arbitrary ObamaCare mandate that age related variations in health care premiums not exceed a ration of 3:1. That part of the law alone increased premiums for young adults by one-third. The typical 21 year old would save about $1,100 in premiums by jettisoning the regulations.
In the meantime, however, no worthwhile thoughts about ObamaCare, pro or con, are to be heard from people who count a program as a success just because Americans enjoy receiving benefits at the expense of other Americans.
"To put it another way, the annual subsidy amounts to $3,312 per recipient. Which is excellent if you’re one of the recipients."
You are correct. Voters getting something or nothing do not care if it is efficient.
Which is exactly what Obama is bragging about. .
As it is so inefficient, car and access are greatly restricted. Nothing free market about it at all.
First Progressive post a few days ago.
It is amazing how much Progressive energy goes into hate. This is what it looks like.
As far as healthcare, you are exactly right Obamacare did nothing except double down on all the inefficiencies. Which is why it will fail, just a matter of time.
Further, 30 million Americans still will not have healthcare, Real incomes will be depressed. As will our economic growth rate.
FDR was a good deal more intellectually honest than Obama. He really wanted his programs to work. Which is why in large degree he did not support government unions. Understanding the government Leviathan will come to feed itself first.
There is also the matter of placing such power with the IRS. Which we all know is wildly out of control and completely unaccountable to the people.
Like the Battle Flag, times have changed. I believe like Dr. KHammer, conservatives have come to understand the need to reform healthcare and assure access. Best as some function of employment.
But in the real world of economics, this can only be achieved by American consumers driving efficiency.
We can all see the failure of nationalized healthcare in Europe and Canada. That people like me will simply buy private coverage.
The Progressive two tier. #$%$ for the common person. The best for the elite. Old school.
The Republicans position from the beginning was real private accounts. Which would have avoided politicos of both parties spending all the money and leaving farce IOUs.
Like everything else, American have to understand what went wrong before it can be reformed.
Look I am developing a special disdain for the Progressive talken heads. Social Security and Medicare can not be saved by raising taxes. Even on every person. Three Americans supporting one is the reality and of course with falling real incomes, completely impossible.
We allowed our government and press to misinform the people. We now have to figure out how to Justly keep promises, to the extend possible. Screwing the younger generations with a complete crash and burn is not Just. It is however Progressive.
Now now Willie. The OLB passing the collective brain around is not relevant to me. Nor any other person striving for rationality.