The Jobs Report Came Out Today

The jobs report came out today. The number I watch, and I am waiting to see change is the Workforce Participation Rate. That number is holding steady at 62.9. That is not a great number, but it is an okay number. That number reached 66 during some of early 2008, but has generally been in the 63 or 64 range most of the time since then. The other numbers on the report are really good.

CNS News is reporting the numbers today:

The Labor Department’s Bureau of Labor Statistics says a record 155,965,000 people were employed in July, the 11th record-breaker since President Trump took office 19 months ago.

“Our economy is soaring. Our jobs are booming. Factories are pouring back into our country, they coming from all over the world. We are defending our workers,” President Trump told a campaign rally in Pennsylvania on Thursday.

BLS said the economy added 157,000 jobs in July (compared with a revised 248,000 in June).

The unemployment rate edged down to 3.9 percent, as the number of employed people reached new heights, and the number of unemployed persons declined by 284,000 to 6,280,000 in July. 

Among the major worker groups, the unemployment rates for adult men (3.4 percent) and Whites (3.4 percent) declined in July. The jobless rates for adult women (3.7 percent), teenagers (13.1 percent), Blacks (6.6 percent), and Asians (3.1 percent), showed little or no change over the month. The unemployment rate for Hispanics hit a record low of 4.5 percent, down from last month’s record 4.6 percent.

There was also good news for wage-earners–in addition to the tax cut, hourly wages went up:

In July, average hourly earnings for all employees on private nonfarm payrolls rose by 7 cents to $27.05. Over the year, average hourly earnings have increased by 71 cents, or 2.7 percent.

This growth is the direct result of the policies of President Trump–the combination of deregulation, tax cuts, and domestic energy development has resulted in economic growth.

 

He’s Back

The Washington Examiner is reporting today that former Vice-President Al Gore wants to ‘decarbonize’ the world’s energy system.

The article reports:

Al Gore wants to reverse modernity and save the world from itself through an elimination of its fossil-fuel-based energy system. During the final week of April, his newly created Energy Transitions Commission released a document setting forth a fool’s-errand pathway to “decarbonize” the world’s energy system.

…But, don’t worry! The all-in estimated cost to re-engineer humanity is only a mere $15 trillion—enough money to give every man, woman, and child in the United States more than $46,000.

Al Gore has been demonizing fossil fuels and attempting to marginalize all those involved in the traditional energy sector since 1988, the year the climate-change movement was rolled out in Washington, D.C., which happened to correspond with a nationwide heatwave and with Yellowstone in flames. Ever since, Gore’s pathway to political power and personal riches has been a successful one, to be sure, but his multi-trillion-dollar effort today is his most sophisticated effort to date. Unfortunately for him, it will also fail, because what he’s selling in his “new” proposal is bad for the people being asked to embrace it.

The plan suggested by the former Vice-President would tax carbon use at $50 per ton and gradually increase to $100 a ton. This would essentially destroy the market for the continuing development of fossil fuel. Since the world’s economy runs on fossil fuel, this tax would be devastating to the world’s economy.

I need to explain that I am concerned about keeping planet earth as clean as possible and providing the best living conditions for everyone living on the planet, but I don’t believe taxing carbon is the answer. I am also not impressed by those complaining about the carbon footprints of most Americans while they live in mansions and travel in private jets to climate conferences??!!

In August 2014, The Daily Caller posted an article which stated:

The Environmental Protection Agency’s proposed global warming regulations aren’t just about stemming global temperature rises — according to agency’s chief, they are also about “justice” for “communities of color.”

“Carbon pollution standards are an issue of justice,” said EPA Administrator Gina McCarthy in a teleconference call with environmental activists. “If we want to protect communities of color, we need to protect them from climate change.”

If you truly want to protect communities of color, you need to reform the welfare culture in those communities, and help the residents of those communities obtain the education and tools they need to be successful. You need to restore the two-parent family in all communities and bring back the values that made America great–hard work, equal opportunity (not equal results), honesty, respect for the law, and the concept of working together to help everyone reach their potential. We need to teach all Americans that nothing is free and that you can choose not to be a victim.

Meanwhile, hopefully Al Gore’s carbon tax will be dead on arrive in Congress and at the EPA.

 

Following The Money On America’s Domestic Energy Front

John Hinderaker at Power Line posted an article today about the Matt Damon movie, “Promised Land.” The movie is essentially an anti-fracking movie that plays fast and loose with the actual truth. The movie was funded by the United Arab Emirates. We are supposed to believe that they are neutral parties in America‘s quest for energy independence. Yeah, right.

The article reports:

But the movie is actually worse than a garden-variety, ill-informed environmentalist fantasy, in which companies–especially energy companies–are villains, and whoever opposes development of resources–especially energy resources–is a hero. The original script for Promised Land portrayed anti-fracking activists as disinterested, admirable whistle-blowers. But while the film was in production, it came to light that several of the main real-world anti-fracking activists were peddling frauds:

The article then goes on to list some of the cases that have proved that the complaints against fracking are not valid.

The article explains how the movie dealt with the anti-fracking fraud:

News stories about these frauds were widely enough circulated that the filmmakers were concerned that moviegoers may be aware of them, and it could make the premise of their movie laughable. So, did they respond by telling the truth about the anti-fracking movement? Of course not. Did they cancel the film and eat their losses? Don’t be silly! No, they changed the script. In the finished version of Promised Land, “the fraudulent environmentalists are secretly working for the gas company to smear the environmental movement.”

I have a few questions about this whole fracking thing. “Why is the environmental movement so against America becoming energy independent?” Wouldn’t the environment be cleaner if every country used its own energy sources? Isn’t the use of local resources a better idea than taking a chance on oil spills by transporting oil all around the world? Are the environmentalists themselves using less energy to show that they practice what they preach?

Almost every country in the world has an energy source. The only country that I am aware of that uses almost 100% green energy is Iceland. They have harnessed the volcanoes the country sits on and used the superheated steam from the volcanoes to provide electricity. Obviously, every country does not sit on volcanoes and can’t do that, but America sits on large deposits of natural gas, a relatively clean source of energy that can be retrieved by fracking. We need to use our own resources. The United Arab Emirates needs to find new customers!

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Sometimes You Just Wonder What Reality Some People Live In

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How do you feel about what you are paying these days to fill up your gas tank? Do you think anyone in Washington cares about how much you are spending? Well, there has been some interesting testimony in Congress recently.

Ed Morrissey at Hot Air posted an interesting article on recent testimony by Energy Secretary Stephen Chu.

The article reports:

When asked by Rep. Alan Nunnelee whether the Obama administration wants to work to get gas prices to come back down, Chu replied that they’re not focusing on that — and that higher gas prices mean more of a push for the alternative energy sources the administration wants to push. 

As I have stated before–I don’t have a problem with alternative energy sources–however, those sources will develop naturally as they become cost-effective. The market needs to left alone so that the most efficient sources are developed. Government subsidies and interference simply muddy the waters and prolong the process.

The Heritage Foundation stated:

As shocking as his remarks are, they shouldn’t come as a surprise. Chu has a long record of advocating for higher gas prices. In 2008, he stated, “Somehow we have to figure out how to boost the price of gasoline to the levels in Europe.” Last March, he reiterated his point in an interview with Fox News’ Chris Wallace, noting that his focus is to ease the pain felt by his energy policies by forcing automakers to make more fuel-efficient automobiles. “What I’m doing since I became Secretary of Energy has been quite clear. What I have been doing is developing methods to take the pain out of high gas prices.”

One of those methods is dumping taxpayer dollars into alternative energy projects like the Solyndra solar plant. Another is subsidizing the purchase of high-cost electric cars like the Chevy Volt to the tune of $7,500 per car (which the White House wants to increase to $10,000). In both cases, those methods aren’t working. Solyndra went bankrupt because its product couldn’t bear the weight of market pressures, and Chevy Volts aren’t selling, even with taxpayer-funded rebates. What’s the president’s next plan? Harvesting “a bunch of algae” as a replacement for oil.

Meanwhile, the Obama Administration is seemingly doing everything it can to make paying for energy even more painful by refusing to open access to the country’s oil and gas reserves and blocking new projects that would lead to the development of more energy in America. Case in point: the president’s decision to say “no” to the Keystone XL pipeline, a project that would have delivered hundreds of thousands of barrels of oil from Canada to Texas refineries, while bringing thousands of jobs along with it.

High gasoline prices take a toll on all areas of the economy. They cause inflation in food prices and all other goods.

The article at Hot Air points out:

Congressional Democrats are ramping up pressure on President Obama to tap the Strategic Petroleum Reserve (SPR) to prevent rising gas prices from threatening the economy and their election-year prospects.

They are growing anxious that the price of fuel could reverse their political fortunes, which had been improving due to signs of growth in the economy.

Republicans have hammered Democrats on the price spike, repeatedly noting that gas prices — now at $3.72 per gallon for regular — have doubled since Obama won the White House.

Even if their motives are less than pure, it is nice to know that Democrats are at least aware that high gasoline prices are a problem for most Americans.

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Overlooking The Obvious In Dealing With High Unemployment

A coal mine in Wyoming, United States. The Uni...

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John HInderaker at Power Line posted an article yesterday about a simple solution to the high unemployment numbers we currently have in America. Developing America’s domestic energy sources would not only employ people, it would have many other positive side effects on the economy. This is one of the charts from the article:

The increased employment that would result from developing America’s domestic energy resources would result in more taxpayers paying taxes. Developing domestic energy sources would also result in lower energy costs to Americans, allowing Americans to spend more money on other things, thus stimulating economic growth. Developing domestic oil resources would also help America become energy independent, rather than sending billions of dollars to people who hate us. It’s a winning situation for the country for many reasons.

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