RE:LockdownsAnschutz wrote: So looks like the price of WTI has retreated on media stoked fear about a virus mutation in the UK and more lockdowns in North America.
I thought Id' share some info presented today at a closed door meeting. In Canada, it was reaffirmed that the reason for the holiday season lockdowns and extended Christmas vacation for students is not due to escalating deaths, patients in ICU or even COVID cases.
It's a pre-emptive effort because 'the government knows" some families will still get together over the holidays regardless of what restrictions are in place. It's therefore necessary to create fear to try and ensure a significant proportion of families isolate themselves from others. This is why in some provinces we see restrictions being reduced while in others locking down harder. Some provinces believe harsher lockdowns are necessary to increase the proportion of families self-isolating, especially amongst certain ethinic groups with large extended families that frequently congregate in large groups. (You won't hear that last bit from the media as it's been omitted from the government authorized speaking points and carefully crafted media releases.)
As for the mutation in the UK, well conversation today was that it is a well known fact that corona viruses mutate and is the main reason why it's practically impossible to create a vaccine against it. It's really a nothing burger however is being leveraged to instill fear over the holidays to get more people/families to self-isolate.
This fear narrative that the market is reacting to is a short term blip. I expect the narrative to shift positive again in about 10 days.
Cheers and GLTA.
Hey Anschutz,
Which government are you referring to? These lockdowns are provincial and Feds do not have jurisdiction.