Ok, ok, I’ll put the Star Wars theme to bed. For today, my friends, we are going to look at some facts and figures about storage across a number of our dearly beloved commodities and a number of geographies – highlighting (for the most part) a theme of staunch stockpiles.  

To further provide some educational information, in addition to the focus on energy, there is also some trivia relating to the ultimate sultan of storage…the squirrel. So enjoy!

–UK natural gas storage is still approximately three quarters full at 74%,  nearly double the level it was this time last year. In contrast to the UK in 2010 experiencing the coldest December on record, the entire year of 2011 turned out to be the second warmest on record, with a mild start to winter setting up a weak demand environment (and strong storage) for UK natty in 2012.     

UK natural gas storage level

–Apparently a squirrel eats up to 9,000 nuts in its lifetime, but likely stores double that (but is too absent-minded to remember where).  

–Crude oil stockpiles in the US sit at a healthy 338 million barrels. In addition to this, there is nearly 700 million barrels stored in the Strategic Petroleum Reserve.  

US crude stocks (ex SPR)

–Swot up on those squirrel smarts with this squirrel quiz!  

–US natural gas storage is at a 586 Bcf surplus to last year (= 25%), while the surplus to the five-year average sits at an even more humongous 601 Bcf, as near-record supply and a warm winter head off demand at the pass.  

US natural gas storage level

–A squirrel acorn stash caused a car to breakdown this winter (in a Beverly Hills Cop stuff-something-in-the-tailpipe kind of way).   

–Gasoline inventories in the US are at the same elevated level as last year, as demand remains exceptionally weak. High retail prices, persistently high unemployment, and gaining efficiencies from the auto sector has seen gasoline demand reach a ten-year low, currently 7.3% lower than the four-week average of last year.   

Gasoline inventories

–Squirrels produce two litters a year, whose timing coincides with the two sets of shoulder months for natural gas of spring and early fall.   

–Despite strong stockpiles in the US, the OECD in general has seen depleting stock levels in the last year, predominantly due to the loss of supply from Libya (OECD = Organization for Economic Cooperation and Development = 34 member countries including most of Europe, the US, Canada and Japan).

–A squirrel stores so much because it eats its own body weight in nuts and seeds in a week.

Storage levels and squirrels. In one word…nuts.

Good day, good day!  Crude has toppled below the monkey bar of $100 late on this week as – would you believe - Euro debt concerns arise once more. In addition, crude has been clobbered by a disheartening domestic demand situation. Total product demand is down 7.2% on this time last year, while gasoline demand has just plummeted to its lowest level since 2001. And while on the subject of plummeting to new lows, the good ship natty has keeled over and made a decade low as supply remains staunch and the storage surplus swells (…while weather is set to swelter). Ay, there’s the rub, and here’s the grub.

–32,100 New Yorkers speak out against fracking.

–Why tornadoes take the weekend off.

–17 best pun store names.

–How high oil prices could squelch a recovery.

–Santa Claus China is coming to town (…51% urbanization and rising).

–Amazing cakes that look like other foods.

–Obstacles facing US wind energy.

–Infographic on the Facebook IPO.

–Burning America’s future by Bill McKibben.

–Council puts signs on trees not to put signs on trees.

–UK gas hub faces rising challenge from Europe.

–US on path to energy self-sufficiency in 20 years.

–20 predictions for life 100 years from now.

–Natural gas glut fuels export debate.

–Infographic about the Black Market.

–The pleasures and pitfalls for off-the-grid solar.

–Ben Franklin’s 200 synonyms for…being tipsy.

The Burrito Deluxe Award of the Week goes to natural gas storage levels, both here and in the UK. The UK sees storage still over 80% full, more than double the level it was this time last year as a mild winter reigns. Meanwhile, the storage surplus to last year in the US has swollen to a whopping 539 Bcf.   

The Burnt Burrito Award of the Week goes to aforementioned gasoline demand, which has just reached a level not seen since 2001. The implications of this is an economy that is merely staggering along, as opposed to strong.

Have a gregarious weekend!

2011 has been an amazing year in EnergyBurritoland™. Thank you so much for reading, and I hope you have the most utterly brilliant holiday period. What a year it has been; here’s a quick tour of some of the key themes and drivers of Energyland™ in the past twelve months:

Happy Holidays!

–Peak oil postponed.

–Does expensive oil inevitably cause a recession?

–12 lessons for us all from the life of Steve Jobs.

–UT making a big bet on algae.

–Amazing aerial photographs.

–Biofuels may push 120 million people into hunger by 2050.

–27 mile police chase…at 10mph.

–’Solar-coaster’ hits as sun sets on federal subsidies.

–Flow chart to help to pick which one of 100 Sci-fi books to read.

–North Sea gas production falls 25% from previous year.

–The shape of things to come? China outbids oil majors in Iraq.

–Earlier bedtimes means slimmer children.

–Report highlights the need to clean the Gulf of Mexico.

–Curry-eating contest leaves two in hospital.

The Burrito Deluxe Award of the Week goes to this interview with Michael Lewis on NPR about the financial crisis. As I listened I was hugely impressed, without realizing it was one of my favorite writers. (think ‘The Blind Side’, ‘Moneyball‘ – yep, the movies - and financial books such as ‘Liar’s Poker’ and ‘The Big Short’). Legen…wait for it…dary.

The Burnt Burrito Award of the Week goes to the lack of a Greek default. Both Greece / the Eurozone can take their own lesson from the song ‘The Gambler’ by Don Schlitz…’Got to know when to hold ‘em, know when to fold ‘em. Know when to walk away. know when to run’. 

The Burrito Heartwarming Interlude Award of the Week goes to this video of a deaf woman hearing for the first time.

Have a tip-top, rockin’ weekend!

Happy Friday once again! Markets are staggering towards the end of the week, one which yielded a prompt month low for US natural gas ($3.66), and a sell-off in crude oil of epic proportions. Fear of a global downturn has been contained in recent weeks, but was toppled over like a gunpowder keg and the fuse unintentionally lit by the Federal Reserve, as their steps to calm markets and spur growth fell woefully short of expectations. Next week presents further fun and games with the return of Greek debt problems to the limelight, along with the risk of downbeat news out of the engine-room of the world, China. But for now, let’s chow:

–The shale bonanza (and critics) makes it to England.

–Opec to earn $1 trillion this year…but spends big to buy calm.

–We were promised jetpacks? Now you can have one (next year).

–Japan hopes to import LNG from US by 2015.

–Solar panel manufacturing plant accused of pollution.

–How to navigate those new Facebook changes.

–Odd energy sources in the movies. (h/t Two Soups)

–Solar quiz!

–Infographic – how dangerous is your house?

–Nevermind the oil sands…here comes the geothermal.

–Can lightning predict hurricanes? 

–Murfie recycles your cds, and sends you them in digital format.

–Google’s proactive measures for energy use.

–Knowing the end of a story makes you enjoy it more.

–Oil and water: Saudi Arabia’s resource imbalance.

–Tropical islands powered by coconuts.

–Cruises, North Korea style. (h/t Evan Cox)

–Infographic: The world of where and how we live. (h/t  Eric Bickel)

–How much bubble wrap would you need to survive jumping off a building?

The Burrito Deluxe Award of the Week goes to our parent company, Schneider Electric, who has just been accepted into the Dow Jones Sustainability Index. Rock on.

The Burnt Burrito Award of the week goes to market expectations. Although the Federal Reserve was wedged inbetween a rock and a hard place with this week’s announcement (i.e. there wasn’t much else that could have been said), the market response across assets was wildly negative.

Have an outstanding weekend!