The March gasoline crack spread increased 35 cents to $27.43 a barrel. The February contract’s discount to March narrowed to 29 cent, the smallest since Jan. 3.
Dow Jones is reporting that China 2013 oil demand is expected to rise by 4.8%. China's oil demand in 2013 is expected to rise to 514 million metric tons, up 4.8%, a research institute affiliated with China National Petroleum Corp., the country's biggest energy producer, said. But that is nothing compared to coal! According to the Energy Information Administration, China consumes nearly as much coal as the rest of the world combined. The EIA says coal consumption in China grew more than 9% in 2011, continuing its upward trend for the 12th consecutive year, according to newly released international data. China's coal use grew by 325 million tons in 2011, accounting for 87% of the 374 million ton global increase in coal use.
The biggest play for oil and natural gas is getting it to where it needs to be. Getting the infrastructure in place to transport our sudden abundance of energy is all the rage! Pipelines and rail and export terminals are going to get hotter and hotter. Some Highlights!