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January 11, 2012

Energy Data Highlights

Crude oil futures price 1/9/2012: $101.31/bbl up$2.48 from week earlier up$13.28 from year earlier Natural gas futures price 1/9/2012: $3.011/mmBtu up$0.022 from week earlier down$1.411 from year earlier Retail gasoline price 1/9/2012: $3.382/gal up$0.083 from week earlier up$0.293 from year earlier Retail diesel price 1/9/2012: $3.828/gal up$0.045 from week earlier up$0.495 from year earlier Weekly coal production 12/31/2011: 19.194 million tons down1.097 million tons from week earlier up0.167 million tons from year earlier

Natural Gas/ Power News

EIA Storage Release 1/5/12 (Actual): -76 Previous Week: -81 Bcf +11.4 % Change from 1 Year Ago +15.2% Change 5-year Average 2011 Brief: Henry Hub natural gas spot prices fell about 9% in 2011 Wholesale spot natural gas prices in most areas of the United States fell slightly in 2011 from the previous year. Prices at the Henry Hub, a key benchmark location for pricing throughout the United States, fell 9% to about $4 per million British thermal units in 2011, the second lowest annual average price since 2002. Strong gains in domestic natural gas productiongross withdrawals were up about 6% through October 2011 especially in the Marcellus and some liquids-rich plays like Eagle Ford, contributed to low average spot natural gas prices http://www.eia.gov/todayinenergy/detail.cfm?id=4510 Stingray looking into possible offshore natural gas leak Stingray Pipeline has been notified of a potential offshore natural gas leak, according to an online notice from pipeline operator Enbridge. http://www.platts.com/RSSFeedDetailedNews/RSSFeed/NaturalGas/7005359 Williams puts a Northeast pipeline into service, delays another The rapid pipeline build-out in the Northeast continues as Williams this week put into service a gathering system in Pennsylvania to pick up more Marcellus Shale gas. http://www.platts.com/RSSFeedDetailedNews/RSSFeed/NaturalGas/6844981 Texas electricity use on the rise in 2011 Last years blazing heat helped push up electricity use in Texas by 5 percent in 2011, according to a study released this week by the Electric Reliability Council of Texas (ERCOT), which operates the grid and manages the electric market for most of Texas http://fuelfix.com/blog/2012/01/11/texas-electricity-use-on-the-rise-in2011/ Green/ Alternative Energy News EU Carbon Permit Set-Aside to Be Decided in Clear-Cut March Vote The European Parliament is likely to decide in a clear-cut vote at the end of March whether to back a draft amendment urging a temporary cut in the supply of carbon allowances, according to a member of the Parliament. http://www.bloomberg.com/news/2012-01-10/eu-carbon-permit-set-aside-to-bedecided-in-clear-cut-march-vote.html Solar bill fails to advance in New Jersey Legislature A bill that would have increased New Jersey's solar energy mandate fell by the wayside when the state Legislature failed to vote on it by the end of the day Monday, the final voting session of the legislative year. http://www.platts.com/RSSFeedDetailedNews/RSSFeed/ElectricPower/6844983 Crude Oil News

OPEC Daily Basket Price 1/10/2012 112.98 (OPEC Daily Basket Price 1/9/2012 112.51) Oil rises on economic optimism, Iran concerns Oil prices rose on Tuesday as optimism about U.S. economic growth, anxiety about Iran's nuclear program dispute with the West and unrest in Nigeria overrode concerns about Europe's economy and debt crisis. http://www.reuters.com/article/2012/01/10/us-markets-oilidUSTRE7AD06820120110 Oil Trades Near a One-Week High as Iran Tension Counters European Economy Oil traded near the highest settlement in almost a week, as concern that demand may be reduced if Europe slides into a recession was balanced by speculation that supplies from Iran may be cut. http://www.bloomberg.com/news/2012-01-11/oil-trades-near-a-one-week-high-asiran-tension-counters-european-economy.html Oil Pares Loss After Fars Says Iran Nuclear Scientist Killed in Bomb Blast Oil pared its decline in New York after Irans Fars news agency reported that an Iranian nuclear scientist was killed in a bomb explosion in northern Tehran. http://www.bloomberg.com/news/2012-01-11/oil-pares-loss-after-fars-says-irannuclear-scientist-killed-in-bomb-blast.html Oil Trades Near a One-Week High as Iran Tension Counters European Economy Oil traded near the highest settlement in almost a week, as concern that demand may be reduced if Europe slides into a recession was balanced by speculation that supplies from Iran may be cut. http://www.bloomberg.com/news/2012-01-11/oil-trades-near-a-one-week-high-asiran-tension-counters-european-economy.html For Global Gasaholics, Ending Subsidies Is the First Step Fuel subsidies are the crack cocaine of global economic development: easy to get hooked on, hard to give up. And as every addict knows, there are good and bad ways to try to kick the habit. http://www.bloomberg.com/news/2012-01-10/for-global-gasaholics-endingsubsidies-is-the-first-step-to-a-cure-view.html

North Dakota Surpasses OPEC Member Ecuador in Oil Production North Dakota oil production surged 42 percent to 510,000 barrels a day in November, exceeding the output of OPEC member Ecuador, as energy explorers accelerated drilling in the Bakken Shale formation http://www.bloomberg.com/news/2012-01-10/north-dakota-oil-production-jumps42-as-shale-drilling-expands.html

Enterprise extends commitment period for Pennsylvania-Texas pipeline Enterprise Product Partners is looking for more commitments from shippers for its planned 1,230-mile Appalachia to Texas pipeline, the ATEX Express. Enterprise began an additional two-week open commitment period Tuesday, as it seeks long-term transportation commitments for use of the pipeline in delivering natural gas produced in the Marcellus Shale to the Gulf Coast. http://fuelfix.com/blog/2012/01/10/enterprise-extends-commitmentperiod-for-pennsylvania-texas-pipeline/ Exports fuel record year for U.S. diesel production U.S. refiners weekly production of distillate fuel hit five-year highs for much of 2011, spurred by strong demand for distillates overseas and the solid pricing for the fuels in the U.S., according to the federal Energy Information Administration. http://fuelfix.com/blog/2012/01/10/exports-fuel-record-year-for-u-sdiesel-production/ China's commodities import robust despite ebbing demand China's imports of crude oil and key industrial commodities proved resilient in December, with copper shipments bucking expectations and rising about 13 percent on the month to a record high. But analysts said the headline numbers did not reflect actual consumption, with the figures likely distorted by a rush to stock up ahead of the Lunar New Year holiday in January, fulfillment of term contracts and use of copper as a financing tool. http://www.commodities-now.com/commodities-now-news/general/9582-chinascommodities-import-robust-despite-ebbing-demand.html Recent Rig Counts Date of Cou Change from Prior nt Prior Count Count Unchanged 140 -5 29 Dec 11 29 Dec 11 Novembe r 2011 Change from Last Year +307 -61 +62 Date of Last Year's Count 7 Jan 11 7 Jan 11 December 2010

Area U.S. Canada

Last Count

6 Jan 12 2007 6 Jan 12 361

Internatio Decemb 1180 nal er 2011

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