Some would say never the twain should meet - Mark Twain and energy commodities, that is - but I protest. So here's a combination of things I currently believe to be true about Commodityworld, and truths from the marvelous man who was born Samuel Langhorne Clemens:
1) WTI Crude oil will have more daily settlements above $100 in 2011 than below it.
2) "History doesn't repeat itself, but it does rhyme."
3) A decreasing natural gas rig count doesn't necessarily mean decreasing production.
4) "Never regret anything that makes you smile."
5) OPEC will not change official production quotas at its meeting the week after next, but will before the year is out.
6) "Don’t go around saying the world owes you a living. The world owes you nothing. It was here first."
7) Natural gas storage will reach a record level this year.
8) "Whenever you find yourself on the side of the majority, it is time to pause and reflect."
9) The combination of European sovereign debt concerns and the end of QEII in the U.S. will likely lend support to the U.S. dollar, providing headwinds to WTI crude oil from testing the highs of the year.
10) '"I've lived through some terrible things in my life, some of which actually happened."
11) The oil / gas ratio (oil per barrel / natty per mmbtu) will spend virtually all of this year above 20.
12) "The best way to cheer yourself is to try to cheer someone else up."
13) Coal prices will show better annual performance in percentage terms in 2011 than any other energy commodity.
14) "Twenty years from now you will be more disappointed by the things that you didn't do than by the ones you did."
15) Retail gasoline prices have peaked for the year.
16) "When in doubt, tell the truth."
Mark Twain made hundreds of great quotes; please feel free to provide your favorite - or one of your truths in the comments.
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.