The narrative of the pre pandemic day’s is still the same regarding the trucking industry and being short on drivers. Many businesses and consumers are affected by the shortage making delayed deliveries the norm for many Americans. With an estimated 61,000 drivers short at the end of 2019, it goes without saying that COVID-19 in 2020 made that number worse, making it harder to train new unexperienced drivers. Read More
Over the past year, China has ramped up its energy production and committed to becoming a net-zero emission economy by 2060. While China has led all nations with renewable energy production, at the same time has increased coal production and offset the retirements in coal capacity from the rest of the world. The increase in coal production seems to have a strong correlation with the outcome of the COVID-19 pandemic and pushing China to retreat to easy and reliable fossil fuel. Read More
Facebook announced it will convert part of its Menlo Park, California headquarters into a vaccination clinic for under-served communities. Read More
Crude has been the underdog since Covid-19 broke onto the scene in early March of 2020. We have seen historic contango, negative trading, inventories at the verge of 100% capacity. However, we have also seen refineries curtailing production and shutting down, crude breaking technical level after level, OPEC + committing to decreased outputs, a Texas winter weather creating supply concerns, and a slow steady recovery of crude as inventories are drawn down and production resumes. Crude has built a full head of steam and looks to be an unstoppable force and a surefire pick to rise to glory yet again for 2021. March Madness is known for its volatile emotional up and downs and surprise sleeper teams with unimaginable upsets. Will 2021 and a third European lockdown amid vaccine safety concerns be the sleeper to upset the rise of Crude?!
After a year of uncertainty and instability in the market created by COVID-19 and a global shutdown, we are starting to see signs of a return to normalcy. Over the past 8 weeks there has been a gradual decline in COVID-19 cases nationally. According to Bloomberg business, “retail gasoline sales rose last week to just 1% below year-ago levels, just before regional lockdowns brought fuel consumption to a crawl.”
As new variants of COVID-19 emerge, the Johnson & Johnson vaccine has been given the green light by the U.S. FDA for emergency use. This will be the first single shot vaccine released to fight COVID-19. As early as Tuesday morning, 3.9 million doses of the Johnson & Johnson vaccine will be distributed to states, tribes, territories, pharmacies, and community health centers. While the vaccine will be limited at first, Johnson & Johnson expects to increase production within the coming months. By the end of March, we should see an additional 16 million doses distributed. The company is committed to delivering 100 million doses by June and “up to a billion” by the end of 2021. Since their vaccine is one dose that will equate to as many people being treated as vaccinations.
This week the United States passed 500,000 Covid-19 related deaths, a devastating milestone. While we continue our fight against this global pandemic, there are signs that things will get better sooner rather than later. Today the FDA endorsed Johnson & Johnson’s Covid-19 vaccine for emergency use. This is welcomed news for the fight against Covid-19 and critical step in getting back to a sense of normalcy. With this endorsement this now brings a third vaccine to the U.S. marketplace with the Pfizer and Moderna vaccines already being rolled out.
A third round of stimulus checks could be just weeks away from approval. The original forecasted date is March 14th, however on Friday House Speaker, Nancy Pelosi said she aims to pass President Joe Biden’s $1.9 trillion stimulus package in two weeks. While there are still delays that may arise, if a bill were to pass before the end of February, payments could start to arrive as early as March 8th for direct deposit checks. Biden said Friday, “I’m going to act, and I’m going to act fast.”
In an effort to help speed up vaccine distribution, Walmart, Starbucks, Amazon, and Microsoft are all working to help get COVID-19 vaccinations out to the public. Working alongside President Biden, their goal is to administer 100 million vaccines in the first 100 days of his administration. Recent results show that even though 39 million doses of the vaccine have been distributed, only 2.8 million people have been fully vaccinated.