S. American corn farmers should help offset expected low US harvest. Russia, Ukraine also getting back into corn. US ethanol subsidies expire yearend. US tariffs on foreign eth to be lifted, opening door for Brazil's cane eth. US govt continues to subsidize cellulosic eth. Pressure in DC from cattlemen to get corn price down. DOA expects farm incomes to increase >30% this year. Ethanol comps should get better margins near future. PEIX comes to mind.
Brent last seen: $112. Goldman still sees $130 next 12 months on BRIC 7.7% growth even with lower US, EU demand.
ENI signed accord with Gazprom to sell 50% stake in Libyan field.
Rosneft and Exxon will begin surveying Russia's Arctic shelf in 2 years.
BP may have to put up another $10B to settle GOM spill claims.
Iraq, BP fight over costs of water injection system for S. Iraq fields.
BP getting good initial results from North Slope drilling.
Great Wall Drilling, with Chinese ExIm Bank funding, working with Kenya govt to drill 80 geothermal wells.
EU going for trans-Caspian NG pipeline.
69% more solar capacity added in US 2Q11 v. '10. 314MW. Treasury grant program that covers 30% of costs expires yearend.
China's 2nd largest wind turbine maker planning a $200M wind farm in IL.
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