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    Energy and Markets Newsletter 112111

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    choiceenergy
    The document provides a summary of energy market data and news from the past week. Key points include: - Crude oil and natural gas futures prices were up and down from the previous week and year. - US natural gas inventories increased while crude oil inventories decreased from the previous week. - The ExxonMobil CEO predicted global energy demand will increase 30% by 2040 due to population and economic growth. - News covered clean energy projects, climate change reports, and developments in oil, natural gas and renewable energy markets.

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    Energy and Markets Newsletter 112111

    Uploaded by

    choiceenergy
    46 views8 pages
    The document provides a summary of energy market data and news from the past week. Key points include: - Crude oil and natural gas futures prices were up and down from the previous week and year. - US natural gas inventories increased while crude oil inventories decreased from the previous week. - The ExxonMobil CEO predicted global energy demand will increase 30% by 2040 due to population and economic growth. - News covered clean energy projects, climate change reports, and developments in oil, natural gas and renewable energy markets.

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    The document provides a summary of energy market data and news from the past week. Key points include: - Crude oil and natural gas futures prices were up and down from the previous week and year. - US natural gas inventories increased while crude oil inventories decreased from the previous week. - The ExxonMobil CEO predicted global energy demand will increase 30% by 2040 due to population and economic growth. - News covered clean energy projects, climate change reports, and developments in oil, natural gas and renewable energy markets.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    46 views8 pages

    Energy and Markets Newsletter 112111

    Uploaded by

    choiceenergy
    The document provides a summary of energy market data and news from the past week. Key points include: - Crude oil and natural gas futures prices were up and down from the previous week and year. - US natural gas inventories increased while crude oil inventories decreased from the previous week. - The ExxonMobil CEO predicted global energy demand will increase 30% by 2040 due to population and economic growth. - News covered clean energy projects, climate change reports, and developments in oil, natural gas and renewable energy markets.

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    November 21, 2011 Energy Data Highlights Crude oil futures price 11/17/2011: $98.82/bbl up$1.04 from week earlier up$18.38 from year earlier Natural gas futures price 11/17/2011: $3.410/mmBtu down$0.239 from week earlier down$0.620 from year earlier Weekly coal production 11/12/2011: 21.273 million tons down0.027 million tons from week earlier up0.089 million tons from year earlier Natural gas inventories 11/11/2011: 3,850 Bcf up19 Bcf from week earlier up14 Bcf from year earlier Crude oil inventories 11/11/2011: 337.0 mmbbl down1.1 mmbbl from week earlier down20.6 mmbbl from year earlier http://www.eia.gov/

    Natural Gas/ Power News

    EIA Storage Release 11/17/11 (Actual): +19 Bcf Previous Week: +37 Bcf +0.4% Change from 1 Year Ago +6.2% Change 5-year Average ExxonMobil CEO says energy demand set to rise by 30% to 2040 Global economic output is set to double as the global population grows to 8.7 billion people by 2040, when global energy demand will be 30% higher than it was

    in 2010, ExxonMobil CEO Rex Tillerson said Monday. Speaking in Saudi Arabia at the launch of the King Abdullah Petroleum and Research Center, Tillerson said meeting that all sources of energy would need to be harnessed "wherever they are economically competitive" to satisfy this demand. http://www.platts.com/RSSFeedDetailedNews/RSSFeed/Oil/8606288 Saudi Aramco focus on gas, downstream rather than oil expansion: CEO Saudi Arabia is focusing on developing its conventional gas reserves and expanding its downstream refining and chemicals industries rather than invest in expanding oil production beyond the kingdom's needs, Saudi Aramco CEO Khalid al-Falih said Monday. http://www.platts.com/RSSFeedDetailedNews/RSSFeed/Oil/8605941 Centrica Pays Statoil $1.6B for Gas Assets Centrica, the U.K.s biggest residential natural gas supplier, agreed to buy $1.6 billion of fields in the Norwegian North Sea from Statoil ASA (STL), increasing oil and gas production 25 percent. http://www.bloomberg.com/news/2011-11-21/centrica-agrees-to-buy-norwegiangas-stakes-from-statoil-for-1-6-billion.html#

    Green/ Alternative Energy News

    Chu Defends U.S. Clean-Energy Support After Facing Criticism for Solyndra Energy Secretary Steven Chu defended U.S. support for clean-energy projects a day after Republicans criticized him at a congressional hearing for backing failed solar-panel maker Solyndra LLC. http://www.bloomberg.com/news/2011-11-18/chu-defends-u-s-clean-energysupport-after-criticism-over-solyndra-loans.html#

    Democrats, environmentalists seize on U.N. report showing extreme weather from climate change Environmentalists and Democrats on Friday pressed for policies that reduce global-warming emissions as they seized on the United Nations finding that climate change would probably increase certain extreme weather events. http://fuelfix.com/blog/2011/11/18/climate-change/ U.S. has large geothermal resources, but recent growth is slower than wind or solar Geothermal is one of the main renewable energy sources used to generate U.S. electricity, even though its growth has not been as strong as wind and solar over the last three years during a big push to increase generation from renewables. Geothermal energy's greatest growth potential is in the western states http://www.eia.gov/todayinenergy/detail.cfm?id=3970

    EU, US and Japan agree on common electric car standards: EC The EU, US and Japan signed an agreement Thursday to cooperate on a regulatory framework for electric vehicles, the European Commission said. The three trading blocs agreed at a meeting in Geneva to "closely cooperate on the convergence of regulatory obligations related to electric vehicles in the global context," the EC said. http://www.platts.com/RSSFeedDetailedNews/RSSFeed/ElectricPower/8600288

    Crude Oil News

    OPEC Daily Basket Price 11/18/2011- $109.12 (OPEC Daily Basket Price 11/17/2011- $110.83)

    Oil Falls On Global Growth Worries, Debt Crisis U.S. crude oil fell $2 and Brent crude lost more than $1 per barrel on Monday on worries over the prospects for global economic growth as debt crises dominated headlines on both sides of the Atlantic. http://www.cnbc.com/id/45380647 Oil falls below $97 in Europe on continued concerns about EU debt crisis, US deficit talks Oil prices fell below $97 a barrel Monday, echoing a decline in global equities on persistent concerns about the European debt crisis and floundering efforts to cut the U.S. deficit. By early afternoon in Europe, benchmark crude for January delivery was down $1.13 at $96.54 a barrel in electronic trading on the New York Mercantile Exchange. http://www.washingtonpost.com/business/markets/oil-hovers-below-98-in-asiaafter-a-chinese-leader-predicts-long-globalrecession/2011/11/21/gIQAPwWkgN_story.html Crude Oil Declines to Lowest in a Week on Asian Demand, European Crisis Oil fell for a third day to its lowest price in more than a week in New York on concern that Europes debt crisis and slower Asian economic growth will curtail fuel demand. http://www.bloomberg.com/news/2011-11-20/crude-futures-decline-as-much-as-04-to-97-30-a-barrel-in-new-york.html# CME to launch NYMEX Brent 25-Day (Platts) contracts CME Group has announced the launch of NYMEX Brent 25-Day (Platts) futures and options contracts to begin trading December 12 with February 2012 being the first listed month. These contracts are listed with, and subject to, the rules and regulations of NYMEX. http://www.commodities-now.com/commodities-now-news/power-andenergy/8896-cme-to-launch-nymex-brent-25-day-platts-contracts.html

    Iran Says Oil Market to Suffer If Its Exports Affected, Seeks Fair Price Any disruptions to Irans oil exports would create severe problems for the global crude market, Oil Minister Rostam Qasemi said in an interview broadcast by Al Jazeera television http://www.bloomberg.com/news/2011-11-20/iran-says-oil-market-will-suffer-if-itsexports-disrupted-1-.html# As pipelines multiply, more eminent domain fights likely When a pipeline company decided to cross a large South Texas ranch in 2009, the family that has owned the property since the 1940s dug in its heels. The question wasnt whether LaSalle Pipeline, which has the right of eminent domain, could lay a 16-inch, 52-mile pipeline that would cross two tracts of McMullen County land owned by Donnell Lands, a family partnership http://fuelfix.com/blog/2011/11/21/as-pipelines%e2%80%a8-multiply-more%e2%80%a8eminent-domain-%e2%80%a8fights-likely/ Transocean Cant Sue U.S. for Gulf Oil Spill, Judge Rules Transocean Ltd. (RIG) cant sue the U.S. government for partial fault in the 2010 blowout of BP Plc (BP/)s Macondo Well in the Gulf of Mexico and subsequent oil spill, a judge said. http://www.bloomberg.com/news/2011-11-18/transocean-can-t-blame-u-s-for-gulfoil-spill-judge-rules.html# Chevron takes blame for Brazil oil spill An ongoing oil spill off the Brazilian coast occurred because Chevron underestimated the pressure in an underwater reservoir, the head of the company's Brazil operations said Sunday. http://www.google.com/hostednews/ap/article/ALeqM5gMLVXmfed6Nn5pMBWdsca aLeO7zQ?docId=ec5704a97d704e5eb2cda3f51437ff7e

    Recent Rig Counts Date of Last Year's Count 19 Nov 10 19 Nov 10 September 2010

    Area U.S. Canada

    Date of Last Cou Change from Prior Count nt Prior Count Count 18 Nov 2001 11 18 Nov 487 11 -15 -13 +23 11 Nov 11 11 Nov 11 Septembe r 2011

    Change from Last Year +324 +69 +98

    Internatio October 1197 nal 2011

    http://investor.shareholder.com/bhi/rig_counts/rc_index.cfm

    Weather
    6 to 10 Day Outlooks Temperature

    Precipitation

    8 to 14 Day Outlooks Temperature

    Precipitation

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