STUFF

1.6B bls of crude held in emergency reserves by IEA members. About 60 days worth if all of OPEC shuts down (my calculation).

Well, onward and upward. O, but first, a little backstep. Kadaffy should be hung. OK, now onward and upward.

New NG pipeline/expansions now being completed in US should add ~725mcfd (million cubic feet/day) capac to total 1.2bcfd added in past year. Tapping into shale gas areas.

France and Sauds signing agreement today for cooperative development of nuke energy. Saud power demand est. to triple to 120GW by '50 (I don't see how anybody can look that far ahead). 40GW today. S. Korea also co-developing nuke power with Saudis.

US, Ukraine discussing coop on nuke energy and signed agreement for Ukraine shale gas exploration, construction of LNG terminal on Black Sea by '14.

Siemens got contract from Mexican copper producer for 250MW combined-cycle power plant.

UPS adding 48 LNG-powered big rig tractors. Compressed NG just not practical. Complete switch from diesel for US fleet would take 6tcf (trillion cubic feet)/yr. Current total US demand ~22tcf. LNG requires 70% more space than diesel tanks. Compressed NG ~6x the space (at 3kpsi). The LNG engines still use 5% diesel for start/lube. LNG chilled to -260F. UPS project got $5.5M from Calif via DOE. Kenworth, Peterbilt, Westport (WPRT) getting orders for LNG trucks. But they cost $200k v $100k. CLNE selling LNG @ equiv $1.25/gal less than diesel, but very few stations up and running for extended truck runs.

Dead baby dolphins washing up on AL, MS shores at 10X normal rate.

BP agreed to pay $7.2B to explore deepwater fields off India. Follows $8B deal for Arctic Sea exploration off Russia and last year's deals for offshore Brazil and S. China Sea. That's a complete BRIC move.

Well, we do have a strong selloff today. I think we get a correction here maybe until our Arab friends and neighbors settle the Mideast dust and sand.