STUFF

ENOC was pummelled late last week (and Monday morn) because of concerns over possible double-counting of some power savings. Their COO resigned Thursday. They're up from yesterday's bottom, but I would think they have another down leg to go.

A "strike" over the weekend on a NG pipeline in S. Pakistan disrupted supply of ~500MW equivalent E. One of the areas hardest hit by last year's flood.

The '12 budget: $29.5B for DOE. A slight increase. Includes $8B for solar, wind, batts. $853M for new nuke techs (like small modular). Also $36B loan guarantees for nuke plants. $3.6B fossil subsidy cuts. $600M cut to HQ staff, fossil research budget cut 45% to $418M.

US gasoline inventories last week - 240M bls - was highest level since March '90. (I guess that's why the Shell station on the corner just reduced gas to $2.98 from last week's $3.14). Global crude production was up .5mbpd in Jan to 88.5m. OPEC now at 2-year high - 29.85mbpd, a 200kbpd increase from Iraq plus increase of NGL production in Qatar, UAE. Non-OPEC production flat @ 53mbpd. Bigger demand on heating oil this winter took stockpiles to 2-yr low. OPEC sees global consumption for '11 @ 87.7mbpd, 1.6m below IEA's estimate. IEA also said last week that the world's oil bill will rise this year from last year's 4.1% of GDP to 4.7%, a level which has brought "slowdowns" in the past.

China, by the by, considers their oil stockpile a state secret. And are "clamping down" on vehicle registrations in cities.

Other bits of tid: Anadarko made their 4th major deepwater discovery off Mozambique. Iran's oil output up 100kbpd to 3.7mbpd. ENI has begun oil production offshore Alaska's North Slope. Algerian 280bcf/yr NG flow to Spain "imminent" (besides an Algerian revolution a la Egypt). Venezuela to receive 1st Japanese oil tankers in 30 years starting in March. A southern Columbian oil pipeline was bombed in 2 sections last week. 48kbpd capac. The US could increase its oil production by 40% to 10mbpd within a decade, a former Shell exec told Congress. 3M jobs. Proof be in the pudding I guess.

BLDP got contract to supply fuel cell modules for 5 buses in Oslo Norway. Why not here?

Origin Oil (OOIL) to participate in a pilot-scale algae project in Baja funded by Mexican gov. Mexico wants to develop algae jetfuel industry.

US exported 279M liters of ethanol to EU in December, 1.5B liters in '10, up from 480M liters in '09.

Shell and Brazil's Cosan signed onto a $12B joint venture to double Cosan's sugarcane production in next 5 years to 100M metric tons, and doubling ethanol production to 1.3B gal/yr, plus developing sugarcane leftovers (bagasse) for energy production.