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2 Feb 25 2011 @ 10:45am by Matt Smith in Capital Markets, Crude Oil, Economy, Global Energy, Natural Gas

Burrito bites

What a week it has been; the first day seemed like a week and the second day seemed like five days. In another week dominated by the unrest in the Middle East, WTI crude oil is set for its biggest weekly increase in two years, as fear builds in a sizeable premium to prices. As for natural gas, it has touched a three-month low before finding support around the $3.85ish level, as the last gasp of wintry weather (yes, wishful thinking) is duking it out with a storage level eyeing a flip-flop back to a surplus versus last year. Let’s finish this week up and chow down:

–This week’s most outlandish call on crude? A $220 price objective. Well done – gold star.

–A succinct summary of current events in the Middle East and the countries involved.

Pirate economics.

–Gasoline prices across the world.

–Nobody likes the carbon floor price.

–The cocktail party stock market indicator.

–The anti-nat gas view: Don’t count on it to solve US energy problems.

–Is China’s oil demand immune to price rises?

–Climate change is making your hayfever worse.

–Abu Dhabi celebrates plastic bag-free weekend.

–Lessons from 40 films in 7 minutes.

–GDP of Chinese provinces versus countries. (h/t B K Swan)

–So why is our crude so expensive?

–Global investments in clean energy to hit $240 bln in 2012.

–Cross-eyed opossum backs Natalie Portman for Oscar.

The Burnt Burrito Award of the Week goes to Colonel Gadhafi (one of the 15 variations of spelling I’ve seen this week).

The Burrito Deluxe Award of the Week goes to the IEA, for seemingly applying some calm to oil markets in the last couple of days. Their statement that they are ‘always ready to immediately activate its existing collective response mechanism when deemed necessary’ has put markets on an even keel. For now.  

The Burrito Observation of the Week goes to John Kingston of Platts:  ‘as we watch the events of the Middle East unfold, one thought comes to mind: George Orwell couldn’t have been more wrong. Not about everything, but about technology. In 1984, technology is what helps the totalitarian government of Oceana hang on to power. In 2011, it’s what is helping lead to the collapse of real governments.’

Have a peaceful weekend!

2 Comments on this post:

  1. Evan says:

    Good stuff Matt. Here’s another link to an interesting and visual story on the economics of piracy that I read a while back. http://www.wired.com/images/multimedia/magazine/1707/Wired1707_Cutthroat_Capitalism.pdf
    Have a great weekend!

  2. Matt Smith says:

    Infographic-tastic! That artilcle is great – thanks so much Evan for posting a link to it!

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