Not good news: Worries about the prospects for employment helped drive Wall Street's decline Wednesday as stocks continue to fall. The Fed projected that the nation's average unemployment rate would rise to 6.3% to 6.5% this year and 7.1% to 7.6% next year. The level in October was 6.5%, and last year the rate averaged 4.6%. According to economic theory, about 5% unemployment is perfect. That percentage indicates a healthy workforce with about 5% of the workforce in transistion from one job to another, women on maternity leave or caring for children, and labor movement from one industry to another as technology changes and companies merge or divest business units. But 7% is bad. It denotes expectations of a downward spiral, as manufacturing sectors layoff people, who then buy less luxury goods and services, whose privders then layoff people, and so on and so on. Advice for us worker bees? Practice these two phrases: "Welcome to Wal-Mart" and "You want fries with that?"
2023-11-27 - As the core of the Permian Basin gets drilled up, E&Ps see years of upside from fringier acreage and unproven targets deeper underground. But these targets will be more expensive to develop, experts say.
2023-11-03 - The largely untapped potential of Canadian shale is a draw for investors.
2023-11-08 - Third-quarter earnings for U.S. natural gas producers plummeted compared to last year, when prices spiked to their highest levels since the Great Recession. Now, all eyes are turned toward growing gas demand to serve new U.S. LNG export capacity coming online.
2023-10-06 - Tamboran Resources with help from APA Corp. and Helmerich & Payne is advancing its goal of producing 1.5 Bcf/d by 2035 from the Australian shale play.
2023-11-21 - Non-op specialist Northern Oil & Gas is entering the Ohio Utica Shale and expanding its position in the northern Delaware Basin with approximately $174 million in M&A.