Pop quiz: What world economic growth rate is expected for 2013? The answer is at the bottom of the post.
NRP is diversifying into soda ash operations. The insider financing doesn’t thrill me but otherwise I like the business and units. Press release and registration for the conference call presentation are required due diligence for unit holders and prospective buyers.
US dry gas production could grow for rest of decade: Raymond James at Platts. Hmmm.
A great look at OPEC’s pricing power at Reuters.
“…increased production in November by 70 percent from a year earlier in South Texas’s Eagle Ford shale formation.” Fuel Fix
China oil demand to grow 5% in 2013: Deutsche Bank at Financial Post. Perhaps the unimpressive demand growth is on China’s concentrated effort toward efficiency gains…
“The WTI-Brent story is not over yet, according to Hussein Allidina at Morgan Stanley.” Commodities Now
Dislocations continue as Canadian oil trapped by tight line capacity at Platts.
President Obama ignored climate change during the last campaign, but spent more time on the subject than any other in his inauguration speech (NY Times). Meanwhile, US emissions are falling markedly and independent of government action on the natural gas revolution. Further, China’s growth is the elephant in the room and what should actually matter to these proponents. (And who is going to deny the 100’s of millions of peasants in the countryside a better life?) I can’t help but giggle in schadenfreude as Europe is increasing coal use. Okay, end minor rant. The point is this policy direction might matter for energy investments.