STUFF

Lehman yesterday emerged from $639B bankruptcy. I guess that's where Paulsen et al came up with that $700B bailout in '08. And Lehman says it will pay back creditors starting next month. How about the trillions lost by everyone around the world in these last 4 years. O well.

Creditor group sees a Greek default creating 1T Euros damage to Eurozone and could leave Italy and Spain depending on outside help to contain contagion. And supposedly tomorrow is Greek debt swap day. Swap on.

8 largest central banks - China, ECB, US, Japan, England, France, Swiss and Germany - account for 1/3 world stock market cap. Balance sheets gone from $5.5T in '06 (when Bernanke came in) to $15T now. Quantatative easing at global level. US Fed still buying 90% of all 20 and 30-year maturity US bonds. And with near-zero interest rates, US unfunded pension obligations increased $2.9T in '11.

Back from global finance, ozone blown across Pacific from Asia descends to ground in US Swest, sometimes pushing concentrations to unacceptable levels. I guess like US coal plant emissions were causing acid rain in Europe years back.

Best Buy, Johnson Controls, PG&E and Veolia joined DOE's National Clean Fleets Partnership to reduce gas and diesel use. 18 participants now.

FL legislature working to repeal Climate Protection Act that has cap-and-trade and promotions for solar, ethanol and energy efficiency. There's always steps back.

Mexico got $300M World Bank loan to cope with changing climate.

FERC approved Maine 300kw tidal energy project.

Campbell's Soup to stop using BPA in can liners. Yay.

Gazprom top execs to Israel to talk the offshore gas fields. US has NG companies too, right?

OPEC production at highest since Oct '08. Though Iraq fields decreased production lately because new export facility delay and weather holding up tanker loading.

Comps from Spain, Russia, Malaysia vying for Cuban offshore drilling rights while US prepares for spill protection.

Repsol (Spain) still battling 2-week old well blowout on Alaska North Slope.

India's GDP up 6.1% 4Q11.

212 oil wells started in ND in Jan, up from 140 in Jan '11.

Exxon started production offshore Nigeria with 180kb/d potential.

USGS: potential 2B bls oil, 80TCF NG in North Slope shale.

Argentina world's top user of CNG. Over 1.9M vehicles. 2nd largest proven NG reserves on planet. More than US. Who's 1st? I think Russia, tho China is claiming, I think.

Happy trails, pards.