Hola! As we move into December, Commodityland™ has spent the last week mentally preparing itself for a monstrously big month ahead. Oil has has been edging higher on a spattering of geopolitical tension, alrightish economic data, and developments on the fiscal cliff front. As for natty, it has seen its biggest weekly loss in six months on a surprise injection for weekly storage and a lack of inclement weather on the outlooks to mid-December. As we ready ourselves for a nutty week ahead, here’s some snacks for sustenance:
–US to overtake Saudi Arabia in oil as China’s water runs dry.
–Tough trucking for natural gas vehicles.
–15 awesome accidental inventions.
–Is Bakken Set to rival Saudi super giant oil field?
–99 red balloons can power 4,500 homes.
–The 11 worst sounds in the world.
–Alaska ice tested as possible new energy source. (h/t Jeff VanderEspt)
–Cool infographic on Fuel Economy Standards.
–6 pieces of folksy wisdom that are actually true.
–The globe’s glut of energy.
–AAA, EPA, GM trade barbs over ethanol.
–25 situations that most likely won’t end well.
The Burrito Deluxe Award of the Week goes to these three facts of the week: oil production at its highest since 1994, oil imports at their lowest since 1992, oil jobs at their highest since 1988.
The Burnt Burrito Award of the Week goes to distillate inventories in the US, which continue to plunder below their five-year range. Particular market tightness remains in the Northeast….a worry wart should cold weather kick in to ramp up demand.