Oct 10, 2017

Oil's looming "supply gap"

Rich Pedroncelli / AP

One school of thought in oil analyst circles is that while markets are swimming in crude right now, a lack of new investment in big projects in recent years means there's a supply crunch looming as soon as the early 2020s.

Among those adhering to "supply gap" theory is Jonathan Chanis, VP of policy at Securing America's Future Energy, who said on the Platts Capitol Crude podcast that the shale boom isn't enough:

"If we don't start seeing some large-scale FIDs, final investment decisions on mega-projects, projects over $10 billion or $15 billion apiece, if we don't start seeing them now and next year or shortly after, by the time we get around to the 2020s, we are going to be short oil."

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America's funeral homes buckle under the coronavirus

Illustration: Aïda Amer/Axios

Morgues, funeral homes and cemeteries in hot spots across America cannot keep up with the staggering death toll of the coronavirus pandemic.

Why it matters: The U.S. has seen more than 10,000 deaths from the virus, and at least tens of thousands more lives are projected to be lost. The numbers are creating unprecedented bottlenecks in the funeral industry — and social distancing is changing the way the families say goodbye to their loved ones.

Navarro memos warning of mass coronavirus death circulated in January

Image from a memo to President Trump

In late January, President Trump's economic adviser Peter Navarro warned his White House colleagues the novel coronavirus could take more than half a million American lives and cost close to $6 trillion, according to memos obtained by Axios.

The state of play: By late February, Navarro was even more alarmed, and he warned his colleagues, in another memo, that up to two million Americans could die of the virus.

Go deeperArrowUpdated 2 hours ago - Health

Axios-Ipsos Coronavirus Index: The virus hits home

Data: Ipsos/Axios poll; Chart: Danielle Alberti/Axios

The share of Americans who know someone who's tested positive has more than tripled in just a few weeks, to 14%, according to the latest installment of our Axios-Ipsos Coronavirus Index.

  • It's still highest in the Northeast, but last week alone it doubled in the South — and it's becoming most pronounced among people who still must leave home to work.
Go deeperArrow2 hours ago - Health