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0 Jun 15 2012 @ 2:52pm by Matt Smith in Capital Markets, Crude Oil, Economy, Global Energy, Natural Gas

10 Tidbits

Yo, I promised I would double down on posts after shirking my responsibilities somewhat last week, so here are ten tidbits I have squirreled away from then until now to show you how nuts Energyworld™ is. Enjoy!

1) US crude oil production in Q1 has just reached its highest level in 14 years, breaking above 6 million barrels a day. Why? Because of oil production ramping up at shale plays such as Bakken and Eagle Ford.

2) Coal generated 34% of electricity in the US in March, its lowest level on record. (pssst…coal-to-gas switching).

3) There are 46 proposed industrial plants in the US due in large part to the growing shale gas industry, including 9 refining or chemical facilities, 6 ethane cracker projects, and 6 steel plant projects. (h/t Bentek)

4) The EIA released their 2012 outlook for hurricane-related production outages in the Gulf of Mexico, with some cool charts like this:

5) Apache Corp has apparently just discovered what the company is calling the best and highest quality shale gas reservoir in North America‘ in northern British Columbia, Canada.

6) The Wall Street Journal ran a story on Tuesday titled ‘Ethanol’s long boom stalls‘, which highlights how ethanol demand is topping out as the percent blended into gasoline is close to its maximum (see right), while gasoline consumption is declining.

7) Delta Air Lines – who purchased the Trainer refinery in Pennsylvania at the end of April – is set to increase the jet fuel yield. Which kind of makes sense, but its still kind of weird that an airline would buy a refiner rather than just hedge their position.

8) The chart of the day from the Economist epitomizes the turbulence of the crude market last year, showing production and consumption gains and losses.

9) Based on current pricing, 11.3 Bcf/d of coal-to-gas switching could be underway in 2012. (h/t Bentek)

10) The impact of euro contagion to China is explained quite nicely by the below graphic, as slowing exports to Europe are set to crimp the 5.6% it makes up of China’s GDP, while so is the 4.4% made up by the US.

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