COVID-19 – INTERESTING STUFF
- Oxford University and AstraZeneca are recruiting 10,000 adults and children in Britain for trials of an experimental Covid-19 vaccine.
- CMHC (Canadian Mortgage Housing Corporation) head, Evan Siddall, projects that 20% of mortgage holders could seek deferrals by September vs the 12% currently.
- CMHC suggested that the minimum down payment could be increased to 10% vs 5% currently or a blend of 5-10% down payment, depending on mortgage size.
- Shopify, Twitter, Facebook, Google, Apple, VISA are all transitioning a large portion of their work-force to permanently work from home.
- BC closed its provincial campsites to non-residents for this summer.
- Canadian retail sales declined 10% in March with a further 16% decline expected for April.
- Online sales were up 40.4% in March Y/Y
5 THINGS TO CONSIDER WHEN THINKING ABOUT HOW TO REOPEN YOUR BUSINESS
- Enforcement is key, this will be difficult but is absolutely crucial
- There will be outbreaks so plans need to be flexible in order to accommodate that
- Some workers can’t be protected especially in industries such as construction, oilfield and manufacturing
- Knowledge is changing rapidly leading to different practices to protect workers and the public
- Legal and ethical responsibility to keep staff and customers safe and to keep businesses viable
- Alberta crude inventories have declined 1.7 million barrels over the past month to 31.7 million barrels; rail shipments have declined by 120,000 b/d to just 41,000 b/d in April (vs 411,000 November 2019) and pipelines shipments declined 100,000 b/d for a total shipping decline of 220,000 b/d.
- As crude-by-rail volumes have declined, so has the WCS discount to WTI. On March 27th, the discount was $15, today it is $8.50
- GasBuddy shows gasoline demand was up 2.8% W/W and up 33.6% from March 26th…illustrates that we are driving more.
- US shale drillers are beginning to reopen wells that were shut-in. US drillers have said they need oil in the $30 range to revive idle wells.
- Western Canadian provinces are laying the groundwork for commercial production of helium, a by-product of oil and gas production.
- Helium is in high demand for respiratory treatments for Covid-19, medical imaging and numerous industrial uses including aerospace, fibre optic cables, smart phones and computer hard drives.
- GM says it is close to developing an electric vehicle battery that will last 1,000,000 miles (current batteries last 100,000 to 200,000 miles).