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August 30, 2011

Energy Data Highlights

Retail gasoline price 8/29/2011: $3.627/gal up$0.046 from week earlier up$0.945 from year earlier Retail diesel price 8/29/2011: $3.82/gal up$0.010 from week earlier up$0.882 from year earlier Crude oil futures price 8/26/2011: $85.37/bbl up$3.11 from week earlier up$12.01 from year earlier Natural gas futures price 8/26/2011: $3.931/mmBtu down$0.009 from week earlier up$0.111 from year earlier Weekly coal production 8/20/2011: 20.787 million tons up0.526 million tons from week earlier down0.404 million tons from year earlier http://www.eia.gov/ Natural Gas/ Power News EIA Storage Release 8/25/11 (Actual): +73 Bcf Previous Week: +50 Bcf -4.6% Change from 1 Year Ago -1.9% Change 5-year Average Canadian Gas Falls as Irene Pares Power, Cooling Demand Declines Canadian natural gas fell after Tropical Storm Irene brought cooler weather to U.S. Northeast, paring demand for power to run air conditioners in the second- biggest market for Canadas gas exports http://www.bloomberg.com/news/2011-08-29/canadian-gas-falls-as-irene-parespower-cooling-demand-declines.html

New natural gas pipeline capacity adds service into Florida Since Florida Gas Transmission Company, LLC (FGT) placed its Phase VIII Expansion project in service on April 1, 2011, daily natural gas flows into Florida have exceeded the pre-expanded capacity nearly 50% of the time http://www.eia.gov/todayinenergy/detail.cfm?id=2850 Utilities Push to Restore Power After Hurricane Utility workers restored power to U.S. homes and businesses after Hurricane Irene moved north to Canada, leaving a trail of damage from North Carolina to Maine. http://www.bloomberg.com/news/2011-08-30/utilities-work-to-restore-electricityafter-brush-with-hurricane-irene.html

Green/ Alternative Energy News

ICE reports first allowance trade under California GHG program IntercontinentalExchange Monday said it saw the first trade of the California Carbon Allowance forward contract, the first-ever exchange-cleared trade based on California's new greenhouse gas cap and trade program. http://www.platts.com/RSSFeedDetailedNews/RSSFeed/ElectricPower/6419395 Solar Purge Drives Weakest Into Buyouts The solar-equipment industry is beginning a consolidation thats already the biggest in at least two years as plunging prices for photovoltaic systems force weaker companies to team with competitors or close shop. http://www.bloomberg.com/news/2011-08-29/solar-purge-drives-weakest-intobankruptcy-buyouts-with-more-deals-coming.html

Crude Oil News

OPEC Daily Basket Price 8/27/2011 (8/26/2011 $107.52) Recent Rig Counts Last Count Change Cou from Prior nt Count +1 +22 -8 Date of Prior Count 19 Aug 11 19 Aug 11 June 2011 Change Date of Last from Last Year's Year Count +319 +122 +41 20 Aug 10 20 Aug 10 July 2010

Area U.S. Canada Internatio nal

26 Aug 1975 11 26 Aug 11 July 2011 508 1150

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

Crude Oil Falls From Two-Week High in New York on U.S. Supply Forecasts Oil fell from its highest in almost two weeks in New York on speculation that crude stockpiles are increasing in the U.S., the biggest consumer of the commodity http://www.bloomberg.com/news/2011-08-30/oil-near-two-week-high-as-spendingcounters-forecast-gain-in-u-s-supplies.html

Oil Off 3-Week Highs As Dollar Rises Brent crude slipped from three week highs on Tuesday, as the dollar firmed on the back of data from the United States suggesting the world's top oil consumer is not sliding back into recession. http://www.cnbc.com/id/44321052 Oil rises on positive economic news Oil prices rose Monday after the government said consumers spent more in July, easing concerns about another recession. Here's how energy contracts traded. http://www.cnbc.com/id/44317438 Big Banks Bet Crude Oil Prices Would Fall in 2008 Run-Up, Leaked Data Show Just before crude oil hit its record high in mid-2008, 15 of the worlds largest banks were betting that prices would fall, according to private trading data released by U.S. Senator Bernie Sanders http://www.bloomberg.com/news/2011-08-29/big-banks-bet-crude-would-fall-in2008-run-up-leaked-data-shows.html Brent-WTI: Waiting for Keystone XL Oil analysts are in increasing agreement that the current spread between Brent and West Texas Intermediate crude oil futures is in some way fundamentally wrong but few are willing to state when it might collapse. http://www.commodities-now.com/news/power-and-energy/7628-brent-wtiwaiting-for-keystone-xl.html

Big Oil Companies May Have to Give Up Iraq Gas Many of the world's biggest energy companies may have to surrender most of the gas from Iraq's vast southern oilfields to a processing and export project led by Shell, a final draft contract between Baghdad and Europe's biggest company, obtained by Reuters, shows. http://www.cnbc.com/id/44314177 Libyas return to oil markets The energy market is keenly awaiting signs that Libyas oil and natural gas production is flowing back to the market http://www.ft.com/cms/s/0/582bec32-d2da-11e0-9aae-00144feab49a.html? ftcamp=rss#axzz1WQ5Ugjys

BP closes $7.2 billion deal with India's Reliance BP has completed its $7.2 billion deal to acquire 30% stakes in 21 oil and gas blocks from India's Reliance Industries, BP said Tuesday. http://www.platts.com/RSSFeedDetailedNews/RSSFeed/Oil/8282813

Weather Tropical Storm KATIA

http://www.nhc.noaa.gov/text/refresh/MIATCPAT2+shtml/300845.shtml

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