Happy Nonfarm Friday! And what a thoroughly underwhelming employment report it was too, especially after all the hype. The disconcerting data is stymieing crude’s run, after WTI had got within a smidge of five-month highs (and just beyond, triple digitdom). Fortunately sense has prevailed, and rather than being enamored by the whiff of stimulus hopes, prices are instead confronting the harsh reality of this week’s poor releases. As for the good ship natural gas, it is keeling over as we are set to pass the pinnacle of hurricane season (hark, Monday), while also descending the slope of cooling demand to the base camp of shoulder season. Enough bumpf for now, ’tis time to chow:
–10 most expensive energy projects in the world.
–Saudi Arabia may become an oil importer by 2030. (I don’t believe it, but interesting concept).
–Cast of ‘Mad Men’ perform Rick Astley’s ‘Never Gonna Give You Up‘.
–Exit signs consume billions of kilowatts each year.
–The impending coal gas revolution?
–World’s oldest message in a bottle found by Scottish fisherman.
–America’s real strategic petroleum reserve…Saudi Arabia.
–Why China will stop US energy independence.
–If oil is black gold, that makes Algae green gold.
–Paris is building an indoor banana farm.
–One for the bears…the ugliest charts in the world.
–I’m not gonna lie, some of these look tasty…25 deep fried foods from the Texas state fair.
The Burrito Deluxe Award of the Week goes to the hope that Dr. Copper is right. It has been rallying like a mad thing in recent days on infrastructure projects announced in China. As we revisited this point just last week (here), higher copper prices = better economic times ahead.
The Burnt Burrito Award of the Week goes to Norwegian gasoline prices. As this article explains, US gasoline is a bargain as we pay 63% less than our Nordic friends.
Have a rambunctious weekend!