Oil Extends Decline as Inventories Reach Most Since 1990 at Bloomberg.  Left unmentioned was gasoline and distillate inventories in the lower limit of the average range…

E&Y Study: O&G Companies Focus on Drillbit Growth in 2011 from Rigzone.

From ND governor urges speedy, safe pipeline building:  “More than one-third of the natural gas produced during oil drilling in North Dakota is burned off as a byproduct of the state’s escalating oil production, state statistics show.”  CNBC.  Bakken returns and pipeline constraints:  Petroleum News.

Ghawar was supposed to have puked by now:  Oil Drum.  As for Peak Oil, an undulating plateau looks right to me:  Financial Sense.

Fracking:  Truthland vs Gasland from Haynesville Play.

“Looks to me like we might have a bottom on our hands in the crude oil market.”  All Star Charts

Equities Rally Without Oil from Bespoke.