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0 Jul 8 2011 @ 10:58am by Matt Smith in Capital Markets, Crude Oil, Global Energy, Natural Gas

Burrito bites

Happy Friday! And as we plough through this first full week of the month, we have had a bumper crop of data releases to feed the market, all harvested in a short trading week too. Economic data has been decidedly mixed, with Nonfarm Friday leaving financial markets shaken not stirred today. This has erased a good chunk of this week’s rally in the crude market, while natural gas tethers itself around the 200-day moving average, as a whopper of a weekly storage injection stymies prices once more.  Hark, another Friday feast:  

–China to open new shale-gas areas this year to tap reserves, surpassing the US.

–Is natural gas an enemy to the smart grid (h/t Marty Hanna)

–Quiz time! Which type of American accent do you have? (I’m from the Northeast, apparently).

–Hydropower promises plain sailing for green investors.

–Airlines win approval to use biofuels on commercial flights.

–Quiz time again!: Muppet, Sesame Street, or Fraggle Rock?

Peak coal and China.

–The Chinese Black Swan?

Shed of the year.

–New EPA air pollution regulations will accelerate the switch from coal to natural gas.

–On a world tour…jellyfish keep UK nuclear plant shut…before jellyfish scourge threatens Israeli swimmers…and electricity.

–World map of useless stereotypes.

–GM gives natural gas cars a boost.

–Where the aliens are flying their UFOs.

The Burrito Deluxe Award of the Week goes to big injections into US natural gas storage. This week’s +95 Bcf was a whopping 8 Bcf away from the highest estimate (and surreally 25 Bcf away from the low-ball estimate), narrowing the deficit versus last year to 224 Bcf.   

The Burnt Burrito Award of the Week goes to unemployment data. And not just to the official BLS release showing an anemic 18k jobs created in June (…AND an increase to the unemployment rate to 9.2%…AND a fall in the number of weekly hours worked), but to the ADP report, which head-faked the market by telling a completely different story of decent job creation.

Have a convivial weekend!

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