STUFF

Spain unemployment at depression level. 25%. 50% for youth.

NG spot prices in US up 70% since April. NG rig count 518 last week, down 42% from last year. Demand up. Production up. 69BCF/d in June. Up >3BCF from year ago.

BoA/Merrill Lynch: businesses, consumers saving $556M/d from cheap NG (v. global prices). The $16/bl diff in WTI and Brent oil worth $56M/d. Fossil fuel exports acount for ~ $100M/d. Add in increased oil/NG production and energy sector delivering ~$1B/d stimulus to econ. Not to metion all the new clean/renewable energy being built and used.

Phoenix Econ Council filed protest to Dept of Commerce, ITC against tariffs on Chinese solar products. A dozen Chinese solar comps have ID'd Phoenix as potential plant location.

Global venture capital for wind power fell to $17M in 2Q12 from $240M in 1Q12. 3 deals v. 12. Q2 deals from wind turbine makers. Large-scale Q2 project funding $5.4B. 23 deals. $4B onshore, $1.4B offshore. 2Q mergers and acquisitions for wind $93M in 5 deals v. $872M in Q1 in 11 deals.

Georgia (the country) trying to get Japan, business interested in new hydropower plant. S Korea, Turkey comps turned down financing. Japan Bank for Intl Development financed hydro plant in '05-'06.

FNVRF's sale was 77MW wind farm for $22M. I came up with <29 cents/w.

Ormat announced new 30MW geotherm plant that met commercial requirements. 10% improvement in brine use efficiency.

PA businesses can apply for State's Dept of Enviro Protection Small Biz Advantage Grant. 50% matching funds up to $9.5K to adopt/acquire E efficient or pollution-preventative equipment or procedures. 100 or fewer employees. In-PA facility must be owned by applicant and plan must save at least 25% plus $750/y in E or pollution-related expenses. G, can it get more simple?

New research raising concerns that extreme storms, unusually high level  of water vapor in atmos - partly driven by climate change - threatening ozone layer in new parts of Earth.

I think already reported: Army Corps of Engineers granted final permits for 400-mile portion of Keystone XL pipeline to run from OK depots to TX refineries.

Commerce Dept increased fees - set tariffs as high as 73% - on China wind turbine makers after finding Chinese and Vietnamese wind tower makers selling product below costs. Up to 60% on Vietnam towers. Probably why BWEN was up Friday.

Chevron's profits slipped on weaker oil prices. Down 13% at Shell.

Greenest Olympic games ever.

Iran building "Aframax" oil tankers. 700K bls. Tanker ordered by Venezuela.

Exxon's 2Q 49% increase in profit over year ago mostly from $7.5B sale of stake in Japan refining/chem comp. Oil/gas output down 5.6% to 4.15MB/d. Operating profits were down.

New EPA rules could force western world's largest coal power plant (in Montana) to shutdown by '17.

Happy motoring.