Good day! Although we may be in the bleak mid-winter, commodityland™ has a warm fuzzy feeling as global economic data and US earnings highlight potentially better times ahead. The crude complex heartily agrees, rallying for a seventh consecutive week on the prospect of rising demand. Meanwhile, natural gas is trying to weigh up the conundrum of rollercoastering temperatures in the coming weeks, and has looped-the-loop to finish the week back where it started. Snack time:
–Peak oil and other fallacies.
–Why Iran plays hard to get on nuclear diplomacy.
–10 amazing coffee-related facts.
—Air quality sucks in the Middle East and Asia.
–Fuels other than oil to steal a third of transport sector growth.
–Why solar power costs more in the US than Germany.
–Move over, Bakken. Eagle Ford production up 70% YoY in November.
–Natural gas powered rigs are on the rise in oil fields.
—Driving dog runs over owner.
–Epic. 25 most awkward family photos.
The Burrito Deluxe Award of the Week is a split decision. It is shared between US equity markets hitting 5-year highs (go, go, gadget 401k!), and the emphasis placed on energy (and specifically clean energy) in the President’s inauguration speech (hoping it is not just lip service).
The Burnt Burrito Award of the Week goes to the European carbon permit market. Permits for expiry in December have fallen 78% from their peak to record lows, as European Union members are reluctant to curb oversupply in the market.
Have a superlative weekend!