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0 Jun 24 2011 @ 10:58am by Matt Smith in Crude Oil, Economy, Global Energy, Natural Gas

Burrito bites

Howdy! And an absolutely fantastically entertaining week has been played out in Commodityworld™, as the IEA (= US, UK, France, Germany, Japan and 23 other countries that aren’t in Opec) made a call somewhere out of left-field to pull 60 million barrels from strategic reserves to meet rising oil demand and the outage in Libya (which is code for prices are too high), while natty has slunk back to one-month lows on a whopper of an injection versus consensus for weekly storage. Next week brings July along with it, but for now- let’s chow:       

–Great article on the latest crude shenanigans…I’m not defending Opec but… (h/t @energy_hero)

–Natgas is both a friend and foe to the grid.

–Google’s Les Paul guitar doodle cost $268 mln in lost productivity.

–Oil supply in US is highest since 1980 – API.

10 fixes for the new energy crisis (h/t Evan Cox)

–Most common iphone passwords.

–Keeping the quiz theme going – The Monetary Policy Quiz. (h/t @Eric_Bickel)

–10 longest natural gas pipelines.

–7 most overpriced foods.

–Infographic on global energy efficiency.

10 reasons why US crime is falling.

–Great infographic: Natural gas is everywhere (h/t Evan Cox).

International roadsigns explained.

The Burrito Deluxe Award of the Week goes to Rory McIlroy, enough said.

The Burnt Burrito Award of the Week goes to the IEA. Although their decision to release 60 million barrels from strategic reserves is constructive (in that it is a veiled attempt to keep prices in check and a global recovery on track), their timing is…horrible.

Have a ferocious weekend!

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