US Drill Rigs Running No Change from Previous Week
US drill rigs running no change from the previous week. There were 663 drill rigs running, up 252 rigs from one year ago. In Canada, drillers shut down 30 rigs, to 206, up 84 rigs from one year ago.
US Raw Steel Production Up 0.3% from Previous Week
In the week ending March 19, 2022, US raw steel production was 1,742,000 net tons at an ACUR of80.2 percent, up 0.3 percent from the previous week.
Chicago Fed National Activity Index for February Moved Down in January
The Chicago Fed National Activity Index for February was released and reports the index moved down to +0.51 from +0.59 in January. Three of the four broad categories of indicators used to construct the index made positive contributions in February. The index’s three-month moving average (CFNAI-MA3) ticked down to +0.35 from +0.37 in January.
What do the numbers mean? A zero value for the monthly index has been associated with the national economy expanding at its historical trend (average) rate of growth; negative values with below-average growth (in standard deviation units); and positive values with above-average growth.
Periods of economic expansion have historically been associated with values of the CFNAI-MA3 above –0.70 and the CFNAI Diffusion Index above –0.35. Conversely, periods of economic contraction have historically been associated with values of the CFNAI-MA3 below –0.70 and the CFNAI Diffusion Index below –0.35. An increasing likelihood of a period of sustained increasing inflation has historically been associated with values of the CFNAI-MA3 above +0.70 more than two years into an economic expansion.
Similarly, a substantial likelihood of a period of sustained increasing inflation has historically been associated with values of the CFNAI-MA3 above +1.00 more than two years into an economic expansion.
Brown Jackson Supreme Court Nominee Hearings
Brown Jackson, the Supreme Court nominee being vetted this week, refused, yesterday, to define the word “woman.” Are you kidding me? How woke can you be? Thumb down for her…
I find it humorous that the Democrats are asking for civility from Republicans in the scotus confirmation hearings. Recall what they put Kavanaugh. Gorsuch and Barret through during their hearings? More bullcrap from the left.
Domestic Drilling
Why is it that the Biden administration refuses to let our oil and gas drillers drill? Because they hate the USA, they hate fossil fuels, the Constitution, heterosexuality, American history, education, the family unit.
In my view, fossil fuels aren’t going anywhere in the short term, as much as the dems are trying to replace it and destroy the industry, the oil-free technology is not here yet. My advice would be to drill, drill, drill. Stay on the road to replacement, but do not force it. It will likely take decades for the proper replacement to appear, in the meantime, they are forcing we the people to consume expensive and inefficient alternatives which will all be replaced at some point. They fill their pockets as they empty yours.
Ukraine
I do not understand why American media and politicians continue to tell Putin what to do in Ukraine. First it was nuclear weapons, then World War III, now it is chemical warfare. Does it make sense to give this guy ideas? What would the response be? Do we really want what we are basically advocating? I sincerely hope not.
The Ukraine desperately needs our help in the form of weapons, ammunition and humanitarian aid, our government needs to stop this wishy-washy bullshit and start delivering the goods.
Lia Thomas
Re: Lia Thomas, the “thing” with a penis, who is competing in women’s swimming events; where is common sense? How do the authorities in sports permit this to happen? It is morally and so obviously wrong.
Speaking of wrong, do you know there are still people being held in prison from the so-called insurrection of January 6, 2020? They have not been charged with a crime…THAT is a crime.
“MAKE AMERICA GREAT AGAIN”
and
“KEEP AMERICA GREAT”
Have a great weekend…. God bless America!
Buy American made products whenever you can, it’s good for you, good for your friends and neighbors and good for our country.
If you are hiring…try to hire a veteran…. they are loyal, disciplined, hardworking…and they deserve our support.
By the way, if you wish to comment on my rants or offer any other insights you may have, you are encouraged to email me.
TEDDY ROOSEVELT ON IMMIGRANTS IN AMERICA…1907
In the first place, we should insist that if the immigrant who comes here in good faith becomes an American and assimilates himself to us, he shall be treated on an exact equality with everyone else for it is an outrage to discriminate against any such man because of creed, or birthplace, or origin. But this is predicated upon the person’s becoming in every facet an American and nothing but an American. There can be no divided allegiance here. Any man who says he is an American, but something else also, isn’t an American at all. We have room for but one flag, the American flag…We have room for but one language here and that is the English language…and we have room for but one sole loyalty and that is a loyalty to the American people.”
