New Jobs and Record Exports of Petroleum Products
TWO ITEMS OF GOOD NEWS IN THE UNITED STATES
New Jobs and Record Exports of Petroleum Products in Last 30 days. 120,000 new jobs drove the U.S. unemployment rate down to 8.6 percent, the lowest unemployment rate since March of 2009 according to the U.S. Labor Department.
Another “temporary worker employer” survey, indicated that 235,000 new temporary jobs were created, which are not included in the above figures. Ben Boothe with Boothe Consulting (www.benboothe.com) said: “This is the best news we have had in over a year. This coupled with the record spending on the day after Thanksgiving, suggests that things are looking better for the people of the United States.”
For 21 straight months, the number of private-sector jobs has grown, by a total of 2.9 million.
The main job losses — 446,000 over the same period — have occurred in government, a decline Tea Party activists have urged by preaching "cutting government". Yet, Obama succeeds in growing private sector jobs and shrinking government. The "No"leaders in Washington blasted Obama. "The 'NO' crowd is again demonstratingpure hypocrisy, it is double speak. They preach one thing, yet howl when Obama succeeds where they fail." said Boothe. Obama has been a steady leader and every month more new jobs are created.
FULL DISCLOSURE
*Obama and 'W'warned before the election, that this would be a worse recession than most expected.
*Obamaand 'W'told us, just after the election, that it would be a "slow" recovery.
*AndObama has worked hard to create jobs in new industry sectors such as renewable energy and small business. Again, he has met nothing but opposition from the "NO" crowd.
In contrast:
Some in Washington, who oppose Obama repressing to dismantle the very policies that have created new jobs, and refusing to pass the new "Jobs Bill". One has to wonder if they want the American people to suffer, in hopes that the people will elect Republicans if they are in enough pain. Lest we forget, it was Republican leadership, that put us in this "economic ditch". No President, except perhaps Franklin Roosevelt has inherited a bigger mess, than President Obama. Yet, his demeanor has been low key, solid, persistent, and stable.
A view of the field:
When we look atthe "NO"contenders we see:
-Cain, shallow, charismatic, but guilty of 7 (or is it 8) affairs. He has dropped from over 25% to 8% in the polls.
-Bachman, not big enough for prime time, and when her campaign staff walked out on her she said: "That is absolutely untrue.", it took a week for her to admit that her own staff couldn't support her further.
-Gingrich, the man who abandoned his wife in her greatest moments of need, (she was in a hospital dying of cancer), to chase a mistress. Later fined over $200,000 by the government for ethics violations he ran back to teach college, and is a "Wanna Be" for past glory.
-Romney, who in his private business made millions buying companies, laying off thousands of long term employees, then selling the companies for quick profits. The Washington Post reported that he was known as one who would sell the lives of thousands for quick profits. (Is this his style for leadership of the economy?).
-Ron Paul, probably the most sincere and honest candidate comes from a background of fringe politics, with some views that are brilliant and others that seem off the wall.
-Rick Perry, mostobservers feel that he isn'tready for the big time, and those who supported have "forgotten" at least the last of three reasons they liked him. His personal life, personal business affairs and financial connections and gifts over his Governorship have yet to be examined in depth by the press. Most believe his Oops moment is an anchor around his neck.
The others? They have little or no name identification, money, or organization.
Jobs, Jobs, Jobs:
The"NO" field, has not offered substantive solutions to unemployment, but have managed to veto repeated efforts by Obama to create new jobs. Yet, Obama is steadily chipping away and creating new jobs every month, not because of, but in spite ofthe "NO" team.
In the meantime, there is still work to do, and Obama is staying focused. There are still 13.9 million people out of work. Records do not include those who have simply stopped trying to find jobs and have dropped out of the labor force in frustration.
National unemployment figures do notaccount for the “underemployed”, those people with Masters or Doctors degrees, who have had to resort to taking minimum wage jobs, clerical or work in fast food restaurants. At current growth rates it will take 4 years to get to a nominal 6% unemployment rate. Obama, needs to double the current job growth rate. Can he do it? Perhaps there are answers in the sectors that are doing well in America.
Three sectors that are doing better.
Retail has show recent improvements in consumer spending, with the largest "Post Thanksgiving" day sales in history. The medical industry and health services are strong, and the oil/gas industry is strongest of all. Take a closer look at the oil and gas industry, because it has potential to create many new jobs quickly.
THE U.S. IS ACTUALLY EXPORTING MORE PETROLEUM PRODUCTS THAN EVER, COULD THE USA BECOME A NET EXPORTER?
Two huge new oil/gas fields are developing with exploding energy, one in south Texas (an area between San Antonio and Laredo) is almost at a gold rush fever of new jobs and development. Just look at all of the new oil and gas wells shot from this airplane window. They have hit a bonanza of natural gas as well as oil production and this, along with new fracking technology, has created huge increases of natural gas production in Texas.
The broad area of North Dakota, is producing enormous new production. Oneof our industry contacts told us that it could be as big as Saudi Arabia in proven reserves. As a result, while the U.S. is still the world’s biggest net importer of crude oil, (9,000,000 barrels per day), the US exports of distillate fuel oil, diesel, residual fuel oil for power generation, are shooting up.
Other Exports:
Gasoline and kerosene jet fuel,are being exported more by the US than ever. Most international demand is coming from China, India, and emerging nations. It is ironic, that third world nations are stimulating our economic growth. Why? They have stayed, sometimes by necessity, with the basic elements of survival. Food, water, air, energy, and food production. Things that we have seemingly given away.
One product that has been popular for emerging nations to buy fromus is Petroleum Coke, a carbon by product of the refinery process that is used to make steel. Since the U.S. lost it’s steel industry to Japan, China & Latin America, those nations are hungry for fuel to run their steel mills. In 2006 the U.S. imported petroleum products from Brazil, but now we are sending them over 106,000 barrels a day. Argentina, Peru and Mexico are also buying increasing volumes of US petroleum products. Production in Venezuela and Ecuador has been unsteady, with some areas in need of infrastructure and modernization. In the meantime, the US is supplanting that lost production. China and Iran have aggressively worked to try to have more influence in those areas, particularly in the areas of energy resources, lumber and other natural commodities such as phosphorus. U.S. dependence upon those nations is decreasing, and U.S. dependence on Saudi Arabia and other sources, (deemed sometimes less than perfect "friends") is also diminishing.
One factor to keep in mind is that the United States is still in the worst recession of 40 years, brought on by decades of deregulation and resultant abuses by “unbridled greed” in big business. Indeed auto usage and American consumer purchases of gasoline have actually declined 7%. When the recession is over and the US economy is at full steam again, it is likely that we will absorb much of the domestic production that is now exported.
New “Shale extraction” technology and new oil discoveries, will buy the USA a little more time, before we have to become reliant upon alternative energy, renewable energy production such as wind and solar. But, progressive thinkers are still recommending that companies take excess earnings and set aside a percentage to invest in renewable energy products.
Gradually more and more buildings will be powered by solar PV, wind and solar water heating.
Perhaps the additional fuel will give wise leaders time to gradually make their buildings and industries "energy self sufficient" so that we won't have to put our industrial and economic faith, in the hopes that we will get lucky and continue to hit oil and gas wells. At some point we will face power interruptions, because of too much demand, in the grid, or because of eventual depletion of oil and gas products. “While we are flush with new production, we need to show wisdom and use resources to prepare for the future.” Said Boothe of of BBAR Inc.
"We have seen an increase in clients ordering environmental reports for oil wells, oil truck "transfer" depots, and lease interests.This is good news and will take up some of the slack of the lack of bank lending and real estate development." said Boothe (www.benboothe.com).