Happy Nonfarm Friday! Crude is mustering a positive end to a rather lackluster week, as poor US oil demand (hark, a 13-yr low) threw a wet blanket over prices. It has taken a decent employment report here in the US today to reverse this trend. Meanwhile, natural gas is on another rollercoaster ride, falling three days in a row before rallying over 7% on the back of a slightly more bullish-than-consensus storage print on Thursday. What a week it has been…let’s hit the cuisine:   

–The top 5 energy stories of Obama’s presidency.

–Why historic buildings are more efficient than LEED-qualified ones.

–Susceptible and impossible super bowl records.

–In the developing world, solar is cheaper than fossil fuels.

–Highlights of BP’s outlook for 2030.

–Infographic on the evolution of Google…..and why they invest so much in clean energy.

–California gets 5% of its electricity from wind.

–Infographic on Apple’s cash.

–Exports accounted for 14% of economic growth last year, the most since 1929.

–The annual grocery sale cycle – what to buy, and when.

–Eight areas to watch in China in the year of the Dragon.

–Infographic on how to read food labels.

–11 charts and graphs about tv shows.

The Burrito Deluxe Award of the Week goes to the US unemployment rate, which fell last month to 8.3%, the lowest level since early 2009.

The Burnt Burrito Award of the Week goes to the Baltic Dry Index, which is down 65% year-to-date. This index measures shipping costs of dry commodites, and due to the  influx of new ships to the market, pricing has crashed – destroying its relevance as an indicator of commodity prices.   

Have a jumping weeekend!

Crude had already been pressured back into double-digitdom by the likely delay to an oil embargo on Iran by the EU, while natural gas has plundered lower and lower on moderate weather outlooks, and both rampant storage surpluses and supply. But enough from me, let’s hit the treats.  

–10 significant oil and gas discoveries in 2011.

–Great posts on the costs and benefits of the Keystone pipeline.

–File under nasty: 11 things with more germs than toilet seats.

–Germany installed more solar panels in December than the US did all year.

 –Natural gas price drop won’t derail shale drilling, while shale bubble inflates on record land prices.

–Nine more awesome miniatures.

–US consumers spent a record amount on gasoline in 2011.

–Infographic: Apple (the company) vs. Apples (the fruit).

–India targets 33 Gigawatts of solar power by 2022.

–To avoid a rising sea level, Maldives President may move entire nation to Australia.

–Doctors urge fracking moratorium.

–Which are better: electric cars or natural gas vehicles?

–100 healthy remedies that are freely available in your home.

–Naked oil. (excellent piece by a Director at the Int’l Petroleum Exchange).

–Interactive map of the US showing GHG emissions for 2010 for large facilities.

–US routes as a subway map. (h/t Jeff Sullivan)

The Burrito Deluxe Award of the Week goes to this winter. The lack of frigid conditions may be killing heating demand for natural gas, but it sure makes it a more pleasant environment to live in! 

The Burnt Burrito Award of the Week goes to the euro, which has sold off to a level not seen since September 2010 on continued concerns about the Euro region debt crisis.

May you have a shenanigan-filled weekend!

The two prices have converged to parity recently, but not for the reasons we may have previously considered. It seemed more likely that the two would meet due to wintry weather boosting natty, and increasing demand boosting gasoline, but neither of these scenarios have played out. So let’s take a look at some of the real reasons for the emergence of this convergence.

1) Natural Gas: Total supply is as strong as an ox  (now around its highest level for the year)

2) Gasoline: Demand is as meek as a lamb (down 4.5% versus same 4-week period of last year)

3) Natural Gas: Storage polevaulted itself (à la Sergey Bubka) to a new record level of 3,852 Bcf last month

4) Gasoline: The national average retail price has slid 18% from the high of $3.985 in early May

5) Natural Gas: After the deficit to last year’s storage level reached 275 Bcf in June, we have now flipped to a storage surplus of 154 Bcf

6) Gasoline: Inventories in the US have just reached a five-year high for this time of year at nearly 219 million barrels

7) Natural Gas: Prompt month prices have not been below $4 in December since 2002

8) Gasoline: Distillates are seeing year-on-year demand growth, leading to increased refining, which is ramping up gasoline production as a bi-product 

9) Natural Gas: A warmer-than-normal start to winter (hark, see left) is limiting heating demand in key regions

10) Gasoline: The disparity between distillate (=diesel) and gasoline demand is typified through their pricing. Current retail gasoline prices are up 9% versus last year, while retail diesel prices are up….20%

There you have it. There are a number of different cases of emerging convergence in commodityland™ currently, from European coal and Brent crude prices, to the narrowing spread between Brent and WTI. However, none is as oddly intriguing as the marriage of natural gas and retail gasoline prices, and the prospect of whether this trend will hold.

Crude prices have apprehensively back-pedaled into double-digitdom this week, while natural gas prices sled towards the lows of the year once again, as we are set to reach Christmas without a solid bout of frigid conditions in the US. But enough chat, here are the snacks:  

–5 truths about our energy future.

–Saudi Arabian crude production hits its highest level in 3 decades.

–The most powerful images of 2011.

–The scientific challenge to replacing oil with renewables.

–The surge in NGLs and oil shale.

–The 25 worst passwords of 2011.

–Study finds television may have pushed US into debt.

–Warren Buffett buys into big solar project.

–Quiz time! Smart or stoopid?!

–Images of Japan 6 months on (h/t Chris Barnett).

–Shale gas to add 870,000 jobs by 2015.

–Infographic- get the most out of Google.

–China discovers shale gas.

–A company’s performance is dictated by….the shape of the CEO’s face.

–15 crazy facts about McDonalds. (and a hilarious rap).

–Exxon’s outlook for 2040.

–Very, very bad Christmas sweaters.

The Burnt Burrito Award of the Week goes to rising geopolitical tension. As if there hasn’t been enough instability given the Arab Spring (summer…and fall….), attention shifts to Iran, their nuclear capabilities,  increasing sanctions against them, and the potential for supply disruptions.

The Burrito Deluxe Award of the Week Year goes to our bravest Summiteer, Marilyn Lesher, who lost her battle with cancer yesterday.  She redefined the term determination, and the world is a better place because of her. Is there any better legacy?

Have a glorious weekend.

Where have you been?! Your dinner's on the table!

Wowee, mid-October already. Despite Halloween and the prospect of scares ahead, general markets have mustered a kangaroo-like jump higher. Crude has rallied well into double-digits in percentage terms since the lows of last week - as have equities - as economic data and hopes of containment for the Euro debt crisis (am sounding like a broken record, I know) improve. Natural gas, meanwhile, has plumbed the depths of the lows of the year, but is now seeing some support from the onset of winter temperatures on the horizon. Lots to digest – let’s hit the bitefest:    

–Production at shale plays keeps rising despite falling rig counts. 

–Fibonacci and solar panels. 

–Runner cuts 6 miles of marathon by taking the bus. (h/t B K Swan) 

–Are transmission lines holding back America? 

–Quiztime! Quote from Steve Jobs or The Matrix? 

 –How the food that your throw out is linked to global warming. 

–Luck and skill in poker. 

–Making fuel out of thin air. 

–Seattle superhero Phoenix Jones arrested.   

–Oil traders unravel the mystery of Cushing. 

–Ten terrifying treats for Halloween. 

–Renewables are here to stay. 

–Lawmaker wants Florida to reinstate dwarf tossing. (h/t J Correll) 

–Smart grids, smart meters, smart software. (h/t @EnergyMrktIntel) 

–Scarily good (and weirdly fascinating)…348 pictures of people frightened at a Halloween attraction. 

The Burrito Deluxe Award of the Week goes to hope that the underlying reason for the rally in risk assets is not misplaced. Go-go gadget Euro-debt-rescue-and-economic-recovery. 

The Burnt Burrito Award of the Week goes to the backlash against Steve Jobs for all the coverage he has received. The praise is justified; if in any doubt, take 15 minutes to watch this speech and appreciate his greatness. And for those who prefer infographics, here are 15 things you may not have known about him. 

Have a fab weekend!