At the same time the economy will only expand by 1.8% this quarter. The good news is, despite the economy, the S&P 500 has gained 3.7% since May 2017. Not too shabby, eh? In fact, as the graph below by Nomura shows, it’s only been over the last six months that the S&P 500 gained 10%. Yes, the market is “bad” according to our usual “wisdom”. As a comparison, the S&P 500 is 10.6% higher since January 2002. How are the numbers compared to the S&P 500 over the past 20 years? For 20 years there were 7 major financial crises, 3 world wars, and 23 recessions. In other words, there are a whopping 7 times as many major financial crises (27) than stocks (just 8). In fact, there were only three times as many major stock market crashes (6) before 2017. Now consider, the S&P 500 now has over 23% of the all time high and 12% of all time low in its history. In fact, if current history is any guide these are the most intense bull markets that the world has witnessed in its history. The market is set to be another major bull market.

It’s not going to be pretty. I’m sure you’re asking yourself, “But isn’t growth a good measure of an economy’s health?” Well, I’ll tell you my answer right now, but first I need to explain the problem with “growth.” There’s nothing wrong with growth per se. When the economy grows an economy is generating more stuff , more revenue, more wages, more benefits. It has value. But there’s only one thing that really matter at this point. What people want is to have a reason to buy more stuff . At this point in time we have nothing that satisfies their needs. And if there’s a better option out there, guess what it’s not that cheap. Just two thirds of the world’s population remains under-emphasized by their economies . That means there are not as many people with enough money left over to buy a brand new car. It also means the less prosperous people are not as enthusiastic about the stuff they do have.

In short, growth doesn’t correlate with actual success. It’s just a bunch of numbers, which when combined with demographics tells us they don’t correlate well. So, where do you find evidence that growth is a good thing? Well, there are two things to look for if you wish to bolster your case. One, there must be more stuff being produced than ever before. In other words, we have to be able to show someone who says “growth equals success” things that show that they’re just making out way too big a fool. And the second factor is that we live a much longer life than our forebears. Why are we living longer? It’s because our environment is changing. No, the rest of you, including Millennials, have no clue, but we’re a long way from the world of yore that was “just right.” Now back to the point. There’s no question the human race has vastly more stuff than our ancestors. But what we need is something that’s worth having. This, more than anything else, is what is missing in the modern world. There are so many things, from food to entertainment to technology, that add value to peoples living for today’s average citizen. What is it that they do need? It’s obvious! The problem, which I’ve tried to point out, is that what I’ve called the “value theory of everything” runs counter to the “growth theory of everything.” If there’s value to whatever we have, then there’s a value to the entire planet we have in the form of resources. So, what have we brought you today? Well, I started this with an interview with Bill Gates that starts off like a textbook in Value Theory. Then things got crazy. Because if you take a look around the world today just how crazy. For example, even the highest income earners in Japan (GDP per capita: $24,890) have a minimum of just around 200 items of income. You’d be surprised at how little there really is. On the other side of the planet, the Philippines has an even, far higher income per capita of $5,300. That’s on top of a GDP per capita that’s only $2,000!

So, what do we need? I’ll give you the answer right now, right?

I’ve now grown to become a better photographer. Now that I’m a better photographer, a lot of people have come to rely on my work not on the fact that I am an excellent photographer, but on the fact that for a while in 2008, I was not much better than a poor photographer. So now it seems like an opportunity to go on a long hike out to find the best route in.

It’s a sunny day and the trail starts out with some fairly steep inclines into the woods. There’s only a handful of people in the entire hike, and they’re mostly walking, not running or riding. The trail is well marked and well preserved, but I do feel the need to warn anyone who’s worried about the trails. If you’re not careful, you could easily lose your footing and end up in a creek or hole. For that reason, I always include a warning in my photos. If you do get into a hole, make sure to get out and find the best person you can to get out. For me, I didn’t make it that far (the rest got to the top by the end of the hike). My hike of all the hikes I’ve done along this trail has been pretty good. I’ve seen a few people out, but that is almost always because we were running or biking. There aren’t many people out at this time of year (we went up in January) so it’s a lot easier to get a place to stay or to park once we get back with our bikes.

The trail begins to rise into the woods. We walk up a little hill and there appears a beautiful overlook on what used to be the Great Plains. That was when this area was forested. Back at our place, Jeff started off his hike by going around the front of some old trees. Apparently the area had a few abandoned houses and that gave Jeff an idea of the area when we were getting started here. The area has a lot different hills (this little hill is going to be a problem because of my knees being too small to stay steady on it), so Jeff had to push his bike up this hill to get to the top of it. As I’m writing this I’m wondering why I didn’t go up this hill sooner.

We started our hike out on what I’d imagine is an irregular trail to reach the top of Mount Nittany. Jeff was a bit concerned as we started looking around on the way up. Apparently there used to be a train that ran between Nittany and Mount Nittany. That could be good for the trail if you know where to look. My bike is very unstable so I wouldn’t want to rely on it with no bike controls to handle a big incline to get up to the high point of the view.

Jeff continued to walk up a little hill and he had a very good vantage point. On top of the ridge there were some old barns and that lent more of a hilltop view. It looks like Mount Nittany had a similar view to a railroad track.

Jeff and I continued to approach the top of Mount Nittany from the back of another hill. The trail continues up the hill a bit, but then turns out to be a different trail. The trail doesn’t go all the way up to the top of Mount Nittany and the way it seems to end I don’t know. Either way its just a hill that’s a bit too steep. When we got to the top of the mountain the view was beautiful. It was a snowy day but there were some small snow patches on the side of the ridge. As we walked up we saw it snow so we took the opportunity to check it out. The trail continued up to the top of Mount Nittany and then turns back around to the trail we just went up. The back of the mountain is a bit different than the views on the front. There’s a rocky shoreline on the bottom of the hill and the land is completely covered in snow.

Jeff finally got a nice view of Mount Nittany. Mount Nittany was a beautiful part of our hiking this year. If you’re into hiking you should check this out. It’s well maintained and has nice views of the region to the east, but has a small trail that goes up to the trail head to the top of the ridge.

But that was in the days leading up to last September’s draft when the club was heavily focused on making the leap from 6’3” quarterback Robert Griffin III to the next generation of talent. When Wilson was the first overall pick, he was a quarterback with a cannon for an arm and was coming off a season in Washington where he led all FBS quarterbacks with over 4,000 yards passing. He was so efficient that on a national level, NFL Draft experts rated him as the 6th best quarterback. Wilson was a 6-foot-3, 220-pound runner with a cannon and was regarded as a possible 6-foot-6, 220-pound gunslinger/shooter. Wilson was a high school all-city selection and also played basketball at South Carolina State in the early 2000’s. He attended Alabama-Birmingham from 2007-2010. As a senior at A-State in 2009, he passed for over 3,000 yards and set a Alabama record with 37 touchdown passes. He was a team captain for his team and was very much a leader and leader in the locker room. Although he did not see any major play time for the Crimson Tide during his career, he made a difference in the locker room when he finished an outstanding freshman season in 2005. Wilson was also a standout cornerback for his senior season where he had six interceptions and was a third team all-conference selection.

He was also on the defensive line in high school, including starting and even starting two games for the defending Alabama state title team. His time at Alabama was limited to his freshman year of high school, but there are some indications that he had been a starter for at least two years before he started playing football. On the recruiting trail, Wilson was committed to Auburn and Arizona State. He was also considered as high as #6 to USC when the two schools parted ways.

Wilson’s stock fell to the middle of the pack as the NFL Draft began. As the picks rolled, Wilson’s name remained at the top of the board, and even rose higher as the day wore on. Some teams liked him so much, they selected several of his former high school teammates for the Redskins’ scout team. He was also a standout at Auburn when he had a productive season in 2010 that included 22 touchdowns. Wilson was the MVP of the SEC Tournament, where he had a career 3.5.5 rushing average in the first round of the tournament. Wilson was recruited by teams coming out of the SEC Conference like Texas, Florida, and LSU. During his time at Auburn, Wilson was also a member of the team’s varsity basketball team. There he ran the table with the scoring in the high school and college basketball. He was also a member of the basketball team where he had a 10-game scoring streak. He was also a member of both teams that placed second at his high school. So he already has a high school and college basketball pedigree.

Wilson was also a student and was a standout at the community college level where he held a 2.8 GPA. There, he was also active in student government in his day job. He was also a member of the football team during his time in college and he had four games that year and had a total of 12 total tackles and four pass breakoffs.

On November 13, it was announced that Wilson was selected sixth overall by the Redskins and will be a fourth round pick in the 2012 NFL Draft. Here’s Pete Carroll speaking about Wilson, “ I can’t wait to work with him. I can’t wait to be around his teammates and with them and understand his game, understand what he brings to our football team and what kind of person he’s that we can have on the field and be close with because of his passion and talent.”

“ You know when you sit and watch our guys take a hit they come running back,” Carroll said about the young quarterback. “He’s one of those guys that gets ready, he just needs to get his act together. He has the potential to be quite the character guy.”

On the same day that he was selected, Wilson was also awarded a Purple Heart for his injury during a training camp practice in August 2011 with the Washington Redskins . According to the Associated Press, Wilson has returned from that injury to be a member of their 2012 camp and is ready to “be a leader in the locker room.” He is also expected to play in the team’s regular season opener next weekend at Seattle and could even make this year’s preseason game against the New York Giants , too.

(Photo Gallery)

Wilson is entering his second year of playing football and he has the ability to be a highly-touted player over the next two years. He has a lot of attributes that should give him the chance to show what

A retired three-star general turned owner, Dorsey has been involved in several business ventures over the years, including the construction and operation of his company, Dorsey Energy Services. Dorsey is the chairman and CEO of CNG (Clarkstown Gas and Electric), a large publicly traded company based in New Brunswick. CNG delivers natural gas to a variety of New Brunswick communities, primarily where it crosses the border from Canada to the United States, but also in southern New Jersey, Connecticut and Rhode Island. Dorsey owns a 50/50 joint venture with the Canadian oil and gas giant, Cenovus Energy, that produces and markets the province’s natural gas in the Province of New Brunswick. CEN (Clarkstown Gas and Electric) is a subsidiary of TransAlta and has a minority partner in Dorsey Power Company, operating a large power generation plant in western New Brunswick. In November 2016, the Canadian Canadian Pipeline Company (CCPC) and Trentham Corporation announced a Memorandum of Understanding in which CEN and TransAlta have agreed to build both the 1,700-MW power plant to the south of Ontario, as well as the 200-MW coal-fired power plant to the south of Michigan. Dorsey Power also produces and sells diesel-powered vehicles that run on natural gas.

According to the Ottawa Citizen, Dorsey has been investing his wealth in New Brunswick and in 2015 he began a renovation of the John A. Macdonald Memorial Centre. Dorsey, according to the Citizen, is funding the $16-million project by donating $4 million to the province. Dorsey has been in a long term partnership with the John A. Macdonald Memorial Centre for over 30 years. The Macdonald Memorial Centre is home to a large collection of artifacts to be exhibited here in a permanent exhibition.

Dorsey’s interests are also included in the Ontario Human Right’s Registry. Under human rights laws, Dorsey may be required to disclose any income or financial gains stemming from the activities of his charitable foundation. He is also a registered charity. Dorsey’s foundations fund a variety of educational, legal and charitable initiatives through his private foundation, which bears the name Dorsey Foundation, Ltd.

Dorsey’s philanthropic efforts have been instrumental in the extension and revitalization of downtown Hamilton. Dorsey Foundation has funded a number of projects including the addition of the BMO Centre and the opening of the BMO Centre Theatre, both at the former site of theformer BMO Field. Dorsey also assisted with the redevelopment of Hamilton’s Market Square from an industrial to a community plaza. He also helped fund the establishment of the Hamilton YMCA in 2006 and The Hamilton History Society in 2011.

Dorsey Family

Dorsey and his wife Elizabeth were the owners of a small furniture store in Hamilton, Ontario. In 1982, he moved to New Brunswick to become an owner and developer in the construction industry. Dorsey’s business career began when his father built a bed building factory in Hamilton. Dorsey’s father gave him a $500 loan to buy the building a few years later, and Dorsey grew the business. Dorsey’s father died when Dorsey was 14, then in 1968 he moved back to America to teach in a New Orleans school system. Although he eventually decided to stay in New Orleans, Dorsey returned to Hamilton in 1989 to continue his education, although he had grown frustrated with the lack of public schools in the small Hamilton town. He then entered the market for educational education. The work eventually led to him founding the Dorsey Educational Foundation in 2005, offering programs in math, science and English. Dorsey’s foundation, which is a private foundation, works with organizations across Canada on a range of teaching problems, including special education, special education in the public school system, high school science and mathematics.

Dorsey holds a Bachelor of Arts degree from Western Ontario University and a Bachelor for Humanities at McMaster University. He has completed four years working with the Hamilton First Nation as an aboriginal mentor, and was named a “local activist and leader”, according to the Hamilton Spectator newspaper at a press conference held in April. It is stated that he has also worked with various non-profit groups in Hamilton including the Association of Hamilton Police Service, the Hamilton Chamber of Commerce and the Hamilton-Kent Community Police. Dorsey has also established a number of charitable foundations.

Dorsey in 2017 announced that he purchased the John A. Macdonald Memorial Centre for $6.3 million. Dorsey is one of four people living in the Macdonald Memorial Centre. Dorsey also owns a half share in the St. David’s College (University) building.

Dorsey lives in the Greater Hamilton Economic District.

Dorsey’s son, Matthew, has graduated from St. David’s as a

Since then we only saw a handful of photos, but even the briefest of looks suggests that we’ll probably be seeing some changes to Samsung’s approach to OLED screens, and soon.

Samsung has not yet revealed what, exactly, the Neo 3D will feature, but according to reports, the display will use a different technology for both the backlight and the ambient light level. This leads to the idea that it may be some kind of dynamic refresh rate. Since Samsung is also rumored to launch a new OLED TV , it would make sense that Samsung would be planning on a switch to this new technology. Whether this would be a variable refresh rate (VCR-esque) or an IR projector like Sony’s Mira and LG’s TCL TV , will be a different story entirely…

While we wait for more information, take a look at some more concept renderings showing off Samsung’s next-gen screen. Note that the images featured by Samsung were shared by a user claiming to have spotted a Neo 3D in action. Note that in both these images the screens have been angled to cover both the right and left sides of the lens, similar to the way the image was taken. These renders were all taken during a short trip on July 20 around 1:40 am, which would make sense given Samsung’s penchant for planning trips and vacations.

For the third time this month, we’re seeing Samsung showing off an image of the upcoming Neo 3D display. The device itself looks nearly identical to the one they showed at GTC 2012, and there’s no indication it will bear a Samsung name. The only important thing is the inclusion of the RGB stripe that was present in the 2012 prototype, but which did not appear in the latest render. This is an exciting development for the development of OLED technology, and we’re still waiting for Samsung’s own new OLED TVs to see the light of day.

Posted by Michael X. at 1:01 PM

And drugs like the vaccine given to the homeless of Boston and other urban area is used as a weapon. All that is happening in the American world-system are taking place because of greed of the billionaires/billionaires behind today’s economic and political system.. This is why I had the impression that the US has two systems. One is the economic system and the other is the political system. I think this is false because there is only one system.. That is capitalism. If we have to agree to disagree, then we must accept that capitalism and political systems are not two worlds. These systems are one and the same. Capitalism andpolitical systemsare two sides of the same coin. One is based on wealth concentration that destroys the population when it gets out of control and the other is based on a system of government that is supposed to be free but in reality… it’s slavery. What these two systems are based on: Free elections and a controlled media . These two things are different and different are not compatible. They can only be combined as opposed to separate. In addition, a socialist system cannot have a government that is all based on money but that money is not the foundation. In this case, the foundation is the people’seconomicpower. If there is an example, it would look like, for example, a social security system. For me, it is the United Nations. It is the principle that if everyone has the same amount of money, then everyone should benefit from that. But it is not really because some of these people don’t have sufficient numbers of income. They deserve a little more. The problem with this system is– as we have seen again and again in the last 100 years. The system is based on a very old system: Greed/Gap . If it turns down and it allows more individuals or businesses to operate in any specific area it will destroy that area and destroy the value of the surrounding areas because the new market will not be able to compete with the old. Once the new market is created and then used, no longer will the “gap” disappear and all other people would begin to prosper to the same degree because the other people that have benefited from it as well. We know that this can only be the case if there are no rules to control this process.

If you are not a fan of socialism, then you have to face the fact that the United Nations’ socialist system will only lead to a third world like situation where everything is controlled not by law , but by a set of regulations. They say that more than half the world resides in countries that are not developed by government. The most developed countries are China , India, Italy , Britain and United States . There is no mention of a country that doesn’t have a rich history. The United States, in particular, has gone totally bankrupt with its politicians.

If the political system was truly free, the United States would be the third largest country in the world and the greatest amount of wealth would be in American hands. But that would not be the case because it would be a system of government based on private profit. There is no guarantee that Americans would make the best of a system that isn’t free due to greed and injustice.

I think we know how this system could end up. Our very best hope would be that the Chinese, the Indians and other countries can be pressured by their government in one way or another to change their government system. If that can be done then we could end up with different governments without going to war and be free. But that will not be the case until we are able to stop wealth concentration of wealth that is based on greed and gap and use economic power to help the developing countries instead of trying to destroy these countries. In the meantime, you can get yourself a new job and join some group who is working hard to fight to end poverty and to make all of these countries truly as free as possible. The problem is in today’s world, these people are out there working hard to bring their nations to the point where they are free. They are working hard to find a way to eliminate wealth concentration and wealth gap. This is what we have to fight for. Don’t follow this with a political party, I would disagree on that. What you have to do is work to change the system itself. Now if you do so, don’t focus on the candidates, focus on how you can help those whom you do not agree with. Those who believe the same way you do, I will listen and have the compassion to understand. Those who believe in a different philosophy, we can disagree

And many other people with similar ideas had a different view on the subject. In fact, people just didn’t believe humans were the only animals. You have to remember, it was a young man’s idea at the time which was met with harsh reaction by certain institutions, such as the university.

It makes sense to me that people would start to question the nature of their own species and the way they were able to live so long, if they knew that they were all “just animals”. To me this looks like a good start in terms of educating people about where we come from. However, I do worry about the generalisation that we have to be more intelligent… not at all. We are not the same as the chimpanzee or usang-boo. We could be the only living species on this planet, but we aren’t the only ones here from where? From another planet where we come from.

In my view this may just be an attempt to get people to go to science sites to get more information and to get them to believe in man for who he really is. It might be an effort in self-fulfilling prophecy, but the more people have to believe in themselves and in the existence beyond their own species, the better. It is far better for all of us if we all accept ourselves for what we are which is what religion and a religion with a specific view of God may do.

To sum up, I think the purpose and function of Science is to develop, test and apply knowledge to all the different parts of society, so that these knowledge can be used for good or evil. In recent times, things have developed that would make that really difficult. If we do nothing at all and just sit back and see what happens (and a big portion of people have been doing that for decades, it’s a scary thought), we’re setting ourselves up for a very dark future. Science can’t go on as it is, if it is not properly developed and properly applied, and if it becomes the sole preserve of some for-profit interests, it’ll be gone by the time it’s done.

The Witcher 3: Wild Hunt has been out on PC and PlayStation 4 for six months now. Now, in honor of the video game’s tenth anniversary, Bethesda has released the first piece of fan service, a new mod that turns your character’s music into a Witcher 3 soundtrack and an online voice-over adventure that guides the player through the story.

Designed by the developer for the PC, the mod replaces the original game’s music with another, more modern remix, but does so with full sound effects and a dynamic voice-over. The mod is called The Witcher 3: Game of the Year Edition, and it comes with two official Witcher 3 soundtracks, the two best-sounding versions that are available on CD.

The update (not the final version, though) comes with more than 300 voice-overs and includes eight different voice samples for each character, including Geralt, a woman called Anya in conversation, an old man named Dandelion and a dog (who just happens to be an actual dog). You can listen to the voice-over adventure (a trailer) by clicking here or by downloading it online.

The results will show in the most convincing way why DBS will be one of the next therapies for dementia and have serious implications for the future treatment of patients with the disease.

Surgical treatment of Alzheimer’s disease is the subject of a series of posts in this blog series. Most of the results of these studies are in the literature; many of them can be found in references I will quote at the end of the post. On Tuesday, February 8th, the first phase 4 phase 3 randomized clinical trial of high intensity repetitive transcranial magnetic stimulation (rTMS) for initial clinical trials for early onset Alzheimer’s disease was proposed by the French researchers. The results of this initial phase 3 clinical trial are awaited now, as the trial will not be complete until March 2017.

The key difference between the two clinical trials is that the former will use an extremely sensitive technique in a noninvasive way for the therapy (rTMS), while the latter will use a different method for the therapy (high intensity repetitive transcranial magnetic stimulation). The study will probably follow a well-defined protocol, taking into account the difference of these two therapy techniques. There is good reason for why rTMS is used. It has a low rate of side effects compared to current, conventional treatments. The procedure is very safe for both patients and researchers, so no safety warning is given that is expected for conventional treatments.

More details about the French study can be found here . I must warn that the details are very sensitive, as well as very long and detailed. Some of the more obvious things that you would want to know are that the dose of rTMS is extremely low (around 5 mcgmin/kg), and that a very precise timing is needed. For other details, you can read my blog posts about the details of these trials. The first phase 4 clinical trial using rTMS for the treatment of early-onset Alzheimer’s disease (AAD) has been proposed by the Spanish neurologist, Alejandro J. Barreto who first proposed the idea during his doctorate at the University of Madrid in 2015.

The main purpose of this study is to evaluate the effect of different treatment regimens in order to optimize the effect of the treatment. The treatment regimen of the study will be different from the previous ones in order to optimize the treatment, so if the results are positive, we can expect a second phase of the trial to include even more patients. In this second phase, the protocol is not yet final. The second phase will be submitted to the Spanish Clinical Trials Office next week.

So there is still a very long way to go until at least clinical trials. But let’s have a look at the data from the Spanish phase 4 trial . This study is not a large, but a recent study, and a good study. The trial is scheduled to start in April 2017. After a very strict set of safety procedures, the study is also a double-blind trial, though of course it depends on whether the trials will be double-blind.

Among the main findings of this study are the following:

The primary endpoint is a reduction in the severity of cognitive decline after 4 (and 6) months of treatment. The major weakness of the study was that most patients are receiving a second treatment for one of the drugs (as with many other medical studies with long follow up in the past) and patients receive two different treatment regimens. This is an issue that concerns all of the most high-profile clinical trials, and it’s also known as an ‘asymmetric’ study, where both patients receive two different treatments. It may not be uncommon to see outcomes that do not follow standard clinical protocols, but in this case the main outcome was a reduction in the cognitive decline as compared to the baseline. The main difference between this study and the other studies of the past, where patients receive treatment for an average of four years, may be because the Spanish study was designed to assess the effects of the treatment within each month, whereas the other trials monitored the effects over the longer term in order to eliminate the problem of long follow-up.

According to the results of this study, the two treatment groups showed equal performance on a series of cognitive tests at week one, although they achieved worse scores on the test given after six and 11 months. By week 12, however, it’s a clear improvement of the treatment for both groups. It is hard to judge the effect of the treatment on the first 12 months (particularly the scores in the testing on day 18 of follow up), but again, the main result is in the last phase of the trial:

The main outcome of the trial was a reduction in the time in which the average score on a cognitive test, which was then followed up for up to 52 months, decreased;

Last week Brent crude prices briefly breached their all-time high as well, reaching $69.06 a barrel, before briefly retreating. As discussed in the article below, we are not concerned about how global supply and demand may affect the price of oil and we will not do any type of analysis on this topic until we hear fromNGL companies such as AGL about actual performance on the global oil market.

An oil refinery. An oil refinery. Photo Credit: K.D. Srinivasan, Reuters The U.S. Federal Reserve, whose interest rate hikes do not appear to be likely, is, at the very least, having a difficult time trying to balance its objectives of maintaining short-term borrowing costs and increasing inflation. This is a problem. Because a rise in the price of crude oil leads to lower prices for gasoline, it raises expectations of price increases even as they decline. At the same time, a fall in prices reduces demand for other goods and services, which further reduces real economic activity. The Fed has been reluctant to raise interest rates because it believes market expectations–or “forward guidance,” in Fed lingo–for the rate increase are too short term. The market seems to be anticipating a 10-8% rate hike sometime this year, which is considerably less than half of the rate hikes that Fed officials forecast in the spring of 2013, even though the economy was already in an impressive state of expansion. One thing that has caused Fed officials much consternation is the fact that the price of oil has dropped to a 30-year-low, from more than $108 a barrel in the middle of summer. The drop in the price of oil has exacerbated the U.S. problem. We have already been observing this effect since 2009, but did not take it to the market in large because it did not seem to matter to a large segment of our economy. At this point the problem may become increasingly difficult to solve. The U.S. economy is not dependent on oil sales–the U.S. runs a trade deficit with China of $400 billion annually. And while it is true that U.S. imports have declined significantly since peaking in 2007, they increased significantly since 2010.Because of that the dollar’s strength has led to massive budget deficits and to rising debt levels that we have not seen for over three decades. At the same time U.S. oil industry employment has fallen nearly 15% from 2010 to 2012, and unemployment remains above 6%.

A rendering of a crude oil barrel.A rendering of a crude oil barrel. Photo Credit: R. M. Brown,United States Energy Information Administration,January 25, 2013 Although we’ve long said that the U.S. government is better off with fewer workers in the oil industry, our current administration has decided to take an even stronger role in keeping oil industry jobs. The U.S. government’s budget is about $2.1 trillion for 2013 and its share of the U.S. oil industry is about 2.9%. This creates a situation where the government has a larger budgetary burden on the sector than we normally experience with oil producers. And the more the U.S. government promotes the U.S. oil industry, the more pressure there will be for the sector to improve performance. It appears that the Fed’s focus on inflation and future economic growth is causing this to happen. An important part of the Fed’s plan for “increasing economic activity in oil and gas exploration, production, and transportation” is to “increase production capacity.” That means increasing drilling and production rates, as well as increasing the size of well pads and onshore production rigs. The Fed and non-oil companies have been pushing a highly controversial plan for the past several years to have the government purchase oil leases on an open market, and the process of doing that started this week. After an intensive three-day conference chaired by Chairman Ben Bernanke, the Department of the Interior announced last Friday that the U.S. Department of the Interior issued a solicitation to purchase over 13.7 million acres of oil and gas exploration and production rights across the country, according to a news release .

A block of oil on a mountain, Photo Credit: Daniel Nocera, The New York Times. A block of oil on a mountain. Photo Credit: Daniel Nocera,The New York Times. A block of oil on a mountain. Photo Credit: Daniel Nocera,The New York Times.

A block of oil on a mountain Photo Credit: Daniel Nocera,The New York Times A block of oil on a mountain Photo Credit: Daniel Nocera,The New York Times.

A block of oil on a mountain Photo Credit: Daniel Nocera,The New York Times A block of oil on a mountain Photo Credit: Daniel Nocera,The New York Times.

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