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0 Dec 3 2010 @ 10:50am by Matt Smith in Crude Oil, Economy, Global Energy, Natural Gas, risk management

Burrito bites

Wowee, what a week. Starting with a $113 bln bailout of Ireland, culminating with Nonfarm Friday (= US unemployment data), this week has not disappointed. The filler, manufacturing data (sandwiched in the middle of the week), once again illustrated global expansion for the industrial sector, while US house prices are swooning once more (although pending sales are not). US natural gas is receiving some support from heating demand as thermostats are cranked up, while storage begins to be whittled down. Crude is back within grasping distance of $90 as positive data and potential intervention from the ECB is rallying the Euro. Meanwhile, the entire UK is walking in a winter wonderland (because no public transport works). I could go on and on (and on); what a great week. AND we are into December  – rock on. Enough of the fluff, let’s get onto the good stuff:  

–Yesterday I wrote a piece for the Houston Chronicle on the real reason why Qatar won the 2022 World Cup bid (everything leads back to energy).

–NY shale gas moratorium is a win-win.

–Love this – Camouflage artwork.

Hurricane Season is over!

–Snow brings concerns of UK fuel shortage.

Interactive traffic light.

–NY Mayor Bloomberg warns about fracking.

–Welcome to coal corner…prices may rise sooner than everyone expects,  as we are at the end of cheap coal,  with Chinese imports reaching a record.

Feline fashion. (is weird).

–What is the future for fracking

Itchy bull is behind power cuts.

–‘Fair’ price for crude is $100. (says Venezuela).

–Markets in everything: betting on the Royal Wedding.

–China overtakes the US as the most attractive country for renewable energy.

–10 aliens we wish were real.

The Burrito Deluxe Award of the Week goes to the storming new Summit Energy blog – The Water Cooler. It has a boatload of authors (15) and a truckload of creativity (tons).  Is the burrito worried about being usurped? Pah! (= yes). But everyone’s a winner in Summitenergyland(tm).  

The Burnt Burrito Award of the Week goes to nonfarm payrolls (aka US unemployment data). After positive economic prints earlier in the week, a meager 39k job creation was a big anti-climax. Even worse, the unemployment rate rose to its highest level since April at 9.8%. (underemployed still at 17%).

The Burrito Euro-Default-Scary-Sentence of the Week:  The biggest creditor to Portugal is Spain.

Have a corker of a weekend!

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