Greetings once again from 53.5° north latitude. This was the first week of several where most of the population is working from home or otherwise isolated. My parents haven't talk to anyone in over two weeks now; our entire family spends nearly the entire day in our house; businesses are either offering curbside pickup or are completely shut down.
It is hard to believe it has only been a week, and that the week before that was the real start of the preparation. Our family seems to be handling the close proximity and change of schedule well so far, but there are several weeks of this to come.
Economy and COVID:
As I mentioned last week, the economy is reeling from the shutdown stores and businesses and the hits to the global supply chain. Of particular interest to Albertans, whose economic well-being is nearly inseparable from the oil and gas sector, the price of oil continues to fall. Take a look at the next two graphics, and see if you can tell the difference between a barrel of Western Canadian Select crude and a Starbucks Iced Cocoa Macchiato.
Now I've never tasted either but I assume the Starbucks drink is more appealing to the palate. But even more disturbing that the thought of drinking crude oil, at least in terms of the Alberta economy, is that on Friday the Starbucks Macchiato cost more than a barrel of crude oil from our province. The impact to Alberta cannot be overstated.
Common wisdom is that conventional oil in Alberta costs about $40 per barrel to produce. The provincial budget for 2020 forecast oil to be at around $58 per barrel. A fifty dollar differential is the difference between having social programs that the government is looking to radically overhaul and not having any social programs at all..
We have already seen calls from US President Trump to "restart" the US economy, citing concerns that America “cannot” let the cure be worse than the problem itself.” I am certain that there are grave economic concerns in the US, but I doubt that the combined impact of COVID and low oil prices has a bigger impact in any jurisdiction in the US than it does in Alberta. So far, Alberta politicians have not called for economic considerations to take precedence over public health considerations. So far.
With that news, I am impressed that I only had one new beer this week. I have posted about Collective Arts previously and I contend that they are one of the best breweries in Canada.
It was with this pedigree in mind that earlier this week I tried their Lunch Money American Blond. A handsome looking beer in a beautiful can, so everything started out well. Unfortunately, this beer doesn't stack up with the rest of the Collective Arts lineup and was pretty generic stuff. It wasn't poorly done, but didn't have much to keep me interested. (3.0 / 5)
On a different note, I received the "Here's To You (Level 5)" badge from Untappd, signifying five years of logging my beers on that site. In those five years, I have logged 645 unique beers or an average of one new beer every 2.84 days. Since my first post on this site one year ago, I have logged 111 new beers or an average of one every 3.35 days. My beer consumption is going down, and at this rate, I'll never meet my personal quest of drinking one of every beer in the world.
Very little reading this week, so only a single new word.