every year at our work, we choose who gives us performance reviews. out of curiosity, we tried typing in our CEO’s name, and lo and behold - despite being 739 degrees separated in the hierarchy, we could ask him for an eval! well, now we’re asking you to give us your feedback. email us your comments.
big idea: light at the end of the tunnel
it’s been a solid week covid-wise, and ‘muricans are growing confident that a semblance of normality will return soon. more than 100 million vaccine doses have been given (40+ days sooner than promised by Joe), two states have expanded vaccine eligibility to all adults, and the CDC revised its guidelines making it easier for schools to reopen. things are going so well that Joe is loaning canada & mexico four million vaccines. Trudeau, like any true canadian, has already apologized for no reason for the inconvenience.
not everything is peachy yet - infections are falling nationwide, but rising in locales like michigan and west virginia. remember, it takes two weeks after your second shot for the vaccine to work its magic, so no beach parties just yet.
internationally, the picture is more complicated. europe abruptly halted and then restarted its vaccination campaigns after the oxford vaccine (which isn’t being used here) may have caused some fatal blood clots. because of their slow vaccination efforts, parts of france and italy are re-entering a lockdown. europe was largely unwilling to partner its public health systems with private pharmaceutical companies to the same degree as ‘murica, resulting in the botched rollout. you don’t hear progressives singing the praises of european-style healthcare these days, huh?
so, you can’t blame us for being hopeful about the situation here in the states. we’re sixth in the world at 12% of ‘muricans being fully vaccinated, and 23% receiving at least their first shot.
story to watch: global gasoline demand has peaked
the International Energy Association has predicted that global demand for gasoline peaked in 2019, with demand never again reaching pre-covid levels. this is due to covid permanently reducing the need for commutes (Ford and British Airways announced work-at-home policies this week) and because governments are encouraging the adoption of EVs. these two factors will offset the rise in demand in developing countries.
the report comes out even as traders begin to speculate that oil prices will rise as the economy recovers, especially in the US. however, considering that a whopping 40% of the crude oil drilled today goes towards increasingly-unpopular gasoline, that doesn’t seem...