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January 13, 2012

Energy Data Highlights

Crude oil futures price 1/11/2012: $100.87/bbl down$2.35 from week earlier up$9.76 from year earlier Natural gas futures price 1/11/2012: $2.774/mmBtu down$0.322 from week earlier down$1.707 from year earlier Weekly coal production 1/7/2012: 21.251 million tons up2.057 million tons from week earlier up0.205 million tons from year earlier Natural gas inventories 1/6/2012: 3,377 Bcf down95 Bcf from week earlier up398 Bcf from year earlier Crude oil inventories 1/6/2012: 334.6 mmbbl up5.0 mmbbl from week earlier up1.5 mmbbl from year earlier

Natural Gas/ Power News EIA Storage Release 1/5/12 (Actual): -95 Previous Week: -76 Bcf +13.4% Change from 1 Year Ago +17% Change 5-year Average War on fracking Hands down easiest prediction for 2012: Boulders hyper-active activists will take time out from their busy schedule of sabotaging American food production to

sabotage American oil and gas production http://www.boulderweekly.com/article-7310-war-on-fracking.html China's new oil-linked gas price to benefit producers, importers: Bernstein China's new natural gas pricing system, which links gas prices to fuel oil and LPG prices, would benefit local producers and importers of piped and liquefied natural gas as well as promote domestic production, Bernstein Research said in a note Thursday. http://www.platts.com/RSSFeedDetailedNews/RSSFeed/NaturalGas/7031195 West Virginia, Pennsylvania competing hard for Shell ethane cracker Prompted by the possibility of capturing a multibillion-dollar project that could employ thousands, West Virginia and Pennsylvania elected officials tried hard this week to persuade Shell Chemical to build an ethane cracker in their state. http://www.platts.com/RSSFeedDetailedNews/RSSFeed/NaturalGas/6854324 Green/ Alternative Energy News California and Quebec working on joint carbon auction California and Quebec plan on hosting a joint auction to sell carbon dioxide allowances as part of a coordinated greenhouse gas cap-and-trade program set to go into effect in 2013. http://www.platts.com/RSSFeedDetailedNews/RSSFeed/ElectricPower/6854723 Evolution Markets to auction 30,000 New England RECs January 25 Evolution Markets will auction 30,000 renewable energy certificates on January 25 that are eligible in four New England states, the White Plains, New York-based brokerage firm said Wednesday. http://www.platts.com/RSSFeedDetailedNews/RSSFeed/ElectricPower/8795118

Addressing Climate Change: Vote for Green, Not Junk Jobs, in 2012 The liquid golden light of winter floods our flowering yard, perfumed by blooming narcissus, cymbidium orchids, Andean lilies, and others. Tropical? No, we live in a temperate zone, but this year's unseasonable balmy to hot, dry weather persisted from the US southwest to the now-not-so-frozen Canadian north, as climate change melted away white Christmas hopes. Ah, warm, sunny winter weather -an insidious, sinful delight of climate change. Perhaps that is why the Republican slate of presidential wannabes ignores the issue entirely, focusing instead on lack of jobs, despite President Obama's attempts to create green ones. http://www.huffingtonpost.com/mary-ellen-harte-and-john-harte/addressingclimate-change_9_b_1197929.html

Denmarks Green Europe Meets Chinese Wall as Vestas Cuts Jobs Denmarks push for a green Europe suffered a reality check as domestic wind turbine producer Vestas Wind Systems A/S (VWS) cuts back one tenth of its workforce to survive Chinese competition and a slump in demand. http://www.bloomberg.com/news/2012-01-12/denmark-s-green-europe-meetschinese-wall-as-vestas-cuts-jobs.html Vestas Jobs Threat Pressures Obama to Extend Tax Break Vestas Wind Systems A/S (VWS)s threat to fire 1,600 workers in the U.S. undermines President Barack Obamas goal of creating green jobs and adds to pressure on Congress to extend a tax credit that the industry relies on. http://www.bloomberg.com/news/2012-01-12/vestas-threat-to-u-s-jobs-addspressure-on-congress-to-extend-tax-break.html Scientists say global warming can be slowed and millions of lives saved by cutting down emissions of methane and soot An international team of scientists says it has figured out how to slow global warming in the short run and prevent millions of deaths from dirty air: Stop focusing so much on carbon dioxide. They say the key is to reduce emissions of two powerful and fast-acting causes of global warming methane and soot. http://www.nydailynews.com/news/world/scientists-global-warmingslowed-millions-lives-saved-cutting-emissions-methane-soot-article1.1005472 Crude Oil News OPEC Daily Basket Price 1/12/2012 112.93 (OPEC Daily Basket Price 1/11/2012 112.90)

Brent rises above $112 on supply fears; debt sales support Brent crude rose above $112 a barrel on Friday, boosted by worries over supply disruption from Nigeria, while easing fears on the euro zone debt crisis after positive demand in Spanish and Italian debt sales supported sentiment. http://www.reuters.com/article/2012/01/13/markets-oil-idUSL3E8CD0PH20120113 Oil Futures Head for Weekly Decline on Plans to Delay Iranian Embargo Oil headed for its biggest weekly decline in a month on signs that the European Union may delay the enforcement of a ban on Iranian oil imports. http://www.bloomberg.com/news/2012-01-12/oil-drops-as-eu-embargo-of-iransaid-likely-to-be-delayed-by-six-months.html Oil Gains, Paring Weekly Drop, as Nigeria Counters Delay to Iran Sanctions Oil for February delivery rose as much as 54 cents, or 0.5 percent, to $99.64 a barrel in electronic trading on the New York Mercantile Exchange and was at $99.63 at 1:52 p.m. Sydney time. http://www.bloomberg.com/news/2012-01-13/oil-gains-paring-weekly-drop-asnigeria-counters-delay-to-iran-sanctions.html

Oil Drops as EU Embargo of Iran Said Likely to Be Delayed by Six Months Oil dropped the most in two weeks after a proposed European Union embargo of Iranian oil imports was said likely to be delayed for six months. http://www.bloomberg.com/news/2012-01-12/oil-rises-from-lowest-2012-level-onnigerian-strike-and-iran.html ICE Gasoil Deliveries Drop to 167,000 Tons on Expiry in January The amount of gasoil to be delivered through the ICE Futures Europe exchange in January dropped to 167,000 metric tons, according to data from the Intercontinental Exchange Inc. http://www.bloomberg.com/news/2012-01-12/ice-gasoil-deliveries-drop-to-167000-tons-on-expiry-in-january.html Bullish China oil demand depends on storage There appears to be an emerging consensus that China's oil demand will accelerate in 2012 compared to last year, with consumption slated to jump by more than half a million barrels a day. Such an increase would take China's crude demand to around 9.5 million barrels a day. http://www.commodities-now.com/commodities-now-reports/power-andenergy/9633-bullish-china-oil-demand-depends-on-storage.html China Gets Cheaper Iran Oil as U.S. Picks Up Tab for Hormuz Strait Patrols China stands to be the biggest beneficiary of U.S. and European plans for sanctions on Irans oil sales in an effort to pressure the regime to abandon its nuclear program. http://www.bloomberg.com/news/2012-01-12/china-gets-cheaper-iran-oil-as-u-spays-tab-for-hormuz-patrols.html Chinas Wen to Juggle Iran Oil Need With Saudi Ties on Persian Gulf Trip Chinas Wen Jiabao must balance his countrys need for Iranian crude with its budding energy partnership with Saudi Arabia on his first visit to the Gulf kingdom, a U.S.-based specialist in Middle East security said. http://www.bloomberg.com/news/2012-01-12/china-s-wen-to-juggle-iran-oil-needwith-saudi-ties-on-gulf-trip.html Recent Rig Counts Date of Cou Change from Prior nt Prior Count Count Unchanged 140 29 Dec 11 29 Dec 11 Change from Last Year +307 -61 Date of Last Year's Count 7 Jan 11 7 Jan 11

Area U.S. Canada

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6 Jan 12 2007 6 Jan 12 361

Internatio Decemb 1180 nal er 2011

-5

Novembe r 2011

+62

December 2010

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