By the way, it seems there is a bug in the documentation: http://www.sqlalchemy.org/docs/reference/sqlalchemy/connections.html?highlight=create_engine#sqlalchemy.create_engine
"""echo=False – if True, the Engine will log all statements as well as a repr() of their parameter lists to the engines logger, which defaults to sys.stdout. The echo attribute of Engine can be modified at any time to turn logging on and off. If set to the string "debug", result rows will be printed to the standard output as well. This flag ultimately controls a Python logger; see dbengine_logging at the end of this chapter for information on how to configure logging directly."""
However there is no dbengine_logging section!