How West Virginia got to 3 percent GDP growth | TheHill

WV Governor switches to Republican Party

Three factors are working in West Virginia’s favor right now: a global infrastructure boom, the rising price of natural gas, and the legacy of a recession that hit the Mountaineer State harder than most.

While most industries struggled during the recession, the energy sector actually performed relatively well. States like West Virginia, Texas, North Dakota and Oklahoma experienced revenue booms as hydraulic fracturing boosted the supply of oil and natural gas.

And while other industries bled jobs at a furious pace, West Virginia actually added mining jobs through even the depths of the recession: 35,300 West Virginians were employed in the mining and logging industry — the broad sector measured by the Bureau of Labor Statistics — at its recent peak, in December 2011

Source: How West Virginia got to 3 percent GDP growth | TheHill

Oil Rises to Three-Week High as OPEC Members Back Cuts Extension

Crude rose to a three-week high after Algeria said an extension to OPEC’s production curbs would be backed by most participating countries.

Futures climbed 0.6 percent in New York. Algerian Energy Minister Noureddine Boutarfa said Thursday that most OPEC members support Saudi Arabia and Russia’s proposal to prolong the curbs to March next year, and that the rate of compliance should increase. Prices had fallen earlier as the market got caught up in the turmoil surrounding Donald Trump.

Source: Oil Rises to Three-Week High as OPEC Members Back Cuts Extension

(Bloomberg) – Natural Gas Futures

What the year ahead looks like for natural gas

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Next year, on a remote island off Australia’s western coast, the world’s most expensive liquefied natural gas export terminal will start shipping cargoes into a market that has changed vastly since 2009, when the project was approved. Chevron’s $54 billion Gorgon LNG facility, initially budgeted at $31 billion, was supposed to have begun operations in 2014. Labor disputes have delayed it, and lower LNG prices have potentially reduced its profitability.

(market watch) – The 10 cities with the most horrific traffic


You’re wasting more hours of your life sitting in traffic than ever before — and that’s not going to improve anytime soon.

In 95 of the 100 largest cities in America, traffic congestion worsened from 2013 to 2014, according to a study from the Texas A&M Transportation Institute, a research institute that develops solutions for transportation problems, released this month; that’s compared to worsening traffic conditions in just 61 of the 100 cities from 2012 to 2013. “The national congestion recession is over,” the study authors conclude.

Cities with the worst traffic


Read: Allstate’s profit missed, because a strong economy caused more car accidents

Data for the study came from the U.S. Department of Transportation and the individual states, and the study methodology is described in detail here.

This is thanks in large part to the fact that the U.S. economy has added more than 9 million jobs since the recession began, which means more people are now commuting to work. The unemployment rate was just 5.3% in July compared to 7.3% at the end of 2008.

The congestion problem isn’t going anywhere anytime soon either: A report by the U.S. Travel Association found that commuters on many cities highways will soon experience Labor Day-like gridlock — Labor Day is typically one of the busiest travel days of the year — on the average day of the week. Some already are: “Within many cities, already almost every day is like Labor Day,” says Erik Hansen, who managed the study, referencing the summer holiday that traditionally generates the nation’s worst traffic jams.

Millions of Americans waste more hours of their lives in traffic than they did three decades ago: Those traveling during peak travel hours will spend an average of 42 extra hours each year on the road (up from 18 in 1982) thanks to traffic, the Texas A&M Transportation Institute report revealed. That’s 6.9 billion hours for commuters on the whole — “more than the time it would take to drive to Pluto and back, if there was a road,” the authors note.

What’s more, in cities with more than one million people, commuters experienced an average of 63 hours of extra travel time each year. And in some cities, that’s even worse. Here are the 10 cities in which residents waste the most hours of their lives sitting in traffic:

1. Washington, D.C.

Commuters in our nation’s capital spend an average of 82 hours extra a year on the road thanks to traffic gridlock, making this the most congested city in America. This extra drive time costs the average auto commuter $1,834 per year (this number was calculated using a combination of the value of the travel delay — estimated at $17.67 per hour per person — and the average cost of gas in the state).

2. Los Angeles, Long Beach and Anaheim

The L.A. area comes in a close second when it comes to traffic congestion: Residents there spend an extra 80 hours a year in the car and $1,711 thanks to clogged roadways.

3. San Francisco and Oakland

Auto commuters in the Bay Area are wasting an extra 78 hours of their year in traffic — and that’s costing them $1,675. That may make working for some of the more high-profile tech companies (ahem, Facebook and Google) in the area even more appealing, as many provide you with swanky buses to get to and from the office.

Read: Could tech shuttles solve Bay Area’s transit problem?

4. New York and Newark

While the New York metro area ranks No. 4 in terms of the extra hours per year spent commuting (74), it ranks No. 2 in terms of what that costs residents ($1739).

5. San Jose, Calif.

Though it’s not an exceptionally large city, it has outsized traffic congestion: Commuters here waste 67 hours in traffic at a cost of $1,422 per commuter each year. It’s one of only two cities in the top 10 that has fewer than three million residents.

6. Boston

As anyone who’s sat (and sat) on I-90 or I-93 knows, it’s slow moving in Boston. Indeed, Bostonians waste 64 hours a year in traffic gridlock at a cost of $1,388.

7. Seattle

In rainy Seattle, commuters who travel during peak times are forced to spend an extra $1,491 a year (in extra gas costs and the cost of lost time) thanks to gridlock as well as 63 additional hours in the car.

8. Chicago

Residents of the Windy City spend an average of 61 extra hours in the car each year at a cost of $1,445.

9. Houston

Houston ties with Chicago in terms of the number of wasted commuter hours each year (61), though residents there spend a little more in terms of gas costs and the costs of their lost time than in Chicago ($1,490 vs. $1,445) because of it.

10. Riverside and San Bernardino

This is the fourth metro area in California to make this list, and one of only two cities with fewer than three million residents to make it (the other was San Jose). Commuters here waste 57 hours a year and spend $1,316, thanks to traffic gridlock.

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