Oil Bankruptcies Are Coming: EnergyNet, The EBay Of Oilfields, Is Ready To Profit

Even if he hadn’t been paying attention to Covid-19 news or watching the price of oil ($13.24/bbl today), Chris Atherton, president of EnergyNet, would still be able to foretell the doom ahead for the oil sector just from the phone calls he fields from people looking to sell oilfields on his online platform. Dealing in oil and gas operations, royalty interests, undeveloped acreage, and more —it’s like Ebay, for oilfields.

A year ago, Atherton, 43, was getting a lot of calls from companies eager to divest non-core assets and clean up their balance sheets. Back then, with oil prices at $60, the interests they sold went for an average price of $42,000 per net flowing barrel per day (thus a 100 bbl per day field costs about $4.2 million). As 2019 went on, buyers got more picky, and sellers more desperate. A lot of undrilled acreage didn’t sell at all.

In late February, the calls began drying up. As the Corona-crisis hit and oil prices went into freefall, companies yanked listings. “It’s on pause,” says Atherton. “When you have big fluctuations in volatility, the asset divestitures market seizes up.” That’s especially the case with management teams who have accepted the end is nigh and are determined not to be second-guessed in court.

For how long depends on prices. That per-flowing-barrel valuation has plunged with the price of crude, to less than $20,000 in the 40 or so deals that EnergyNet transacted in March and April. As badly as companies would like to jettison assets, “if there’s negative oil prices, a prudent judge will delay a sale.”

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Atherton’s incoming calls now are from restructuring teams wanting to prep EnergyNet. “The wave is coming.”

Atherton, ex-Enron, joined EnergyNet soon after its founding in 1999, about the same time, he says, as the launches of Socks.com and AskJeeves. Competitors have come and gone, leaving EnergyNet to sell 200,000 properties over 20 years, for $6.8 billion. Atherton says that EnergyNet have verified that today’s 40,000 registered users have access to $17 billion worth of dry powder ready to make deals.

“If it’s any silver lining, there’s lots of buyers.” Their killer app: digitization of every bit of available information about an asset and its neighborhood. “We show all the production nearby. It contextualizes the value, like Redfin or Zillow,” says Atherton. In the past two years EnergyNet has transacted more than $5 billion in properties, taking a cut of 2-3% on every sale), including post-bankruptcy sales for the likes of Samson Resources, Linn Energy, EnerVest, Swift Energy and Sanchez Energy.

Atherton has watched the evolution of the shale revolution, and has marveled at the undying optimism of drilling engineers. He has in recent years collected screen shots of favorite pages from oil company investor presentations, which show cross sections of reservoir rock pierced by as many as 40 wells per square mile — a vision of efficiently mass producing oil that has never lived up to the hype. Did they really think it could work? “I don’t think it was nefarious or fraudulent,” says Atherton, just overly optimistic.

The big banks are now standing up teams to deal with assets — essentially in-house oil companies. Some specialize in it, like BOK Financial, controlled by Oklahoma oil billionaire George Kaiser. But it’s generally not something they want to do, says Georgetown University Prof. Reena Aggarwal. Oil adds a lot of risk to banks balance sheets, especially assets that weren’t good enough to keep companies out of bankruptcy in the first place. Banks want oilfields off their books, but don’t want to crystallize losses. So they hold, and wait.

This down cycle won’t end without some marquis names going into Chapter 11. Before Covid-19 many bankers considered Chesapeake “too big to fail” with access to ample capital to keep limping along. Now the opinion has changed. With $9.4 billion in debt requiring $650 million in annual interest payments, and operating income set to get cut in half this year, Chesapeake has limited runway left. Its equity market cap is down to $300 million, while Chesapeake bonds maturing February 2021 traded Tuesday at 7.75 cents on the dollar (down from 95 cents in early January) according to FINRA data — as if holders anticipate a total loss. “If they don’t do a voluntary restructuring at some point, they will not be well positioned when the industry turns around,” says a consultant who advises banks on oil assets.

Indeed, when the industry turns around, there will be some surprises waiting for them down in those oil reservoirs. With Covid-19 lockdown evaporating 40% of gasoline demand, storage tanks in the U.S. will hit “tank tops” within weeks. With no place to stick their crude — at any price — producers have begun the labor-intensive process of shutting-in their wells. Already billionaire Harold Hamm’s Continental Resources has shut in all of its roughly 200,000 barrels per day of production in North Dakota, and declared force majeure, refusing to sell contracted oil to pipelines at negative prices.

It’s not like turning a water faucet on and off. “Shut-ins are not easy decisions. When production shuts-in, problems arise. Multi-phase well flows begin to separate out, while problematic hydrates, waxes, asphaltenes form which will have serious economic implications,” noted analyst Bob Bracket of Bernstein Research last week, sharing numerous examples of fields around the world that were flowing more than 1,000 barrels per day before being shut-in due to low prices — then never started up again. This is a frightful proposition when buyers value oilfields based on how many barrels of oil they flow per day. Uncertainty can be expensive. A shut-in field might only sell for half the price of an otherwise identical one still flowing healthily, says Atherton.

But how low can prices go? Last week a few dozen prompt month futures contracts for West Texas Intermediate crude traded below -$30 per barrel — meaning that sellers are paying buyers to take their oil away because they have nowhere to store it. Likewise, oilfields can sell for “negative” value because of the size of their attendant liabilities tied to plugging wells and remediating land. Atherton says that although EnergyNet usually makes its commission off of auction proceeds, they’re now able to sell these negative-priced assets by accepting a success fee.

One company with huge potential remediation costs that has analysts concerned is California Resources Corp., which was spun out by Occidental Resources in 2014 to take Oxy’s giant old California oilfields, and loaded up with debt, including more than $4 billion due by the end of 2022. CRC’s average all-in cost per barrel, including $19 in cash operating costs, $8 in interest, and $5 in overhead (per Bernstein), adds up more than $35 per barrel — too high for current oil prices.

Yet CRC can’t easily shut in its operations, many of which rely on continuous injection of steam down into reservoirs to coax stubborn oil out. Add low oil prices to California politics and CRC might soon be unable to stay in business. “Sometimes it feels like I’m watching a comedy, sometimes a tragedy, but increasingly it’s a horror story,” says Clark Williams-Derry with IEEFA. CRC’s 8% bonds maturing in December 2022 changed hands in January at 45 cents on the dollar, according to FINRA data. Last trade on Tuesday was at 1.62 cents.

It seems fitting that California’s oil-rich San Joaquin Valley was the setting of the best oil movie ever: Daniel Day Lewis’s There Will Be Blood.

Too soon to tell, but Atherton expects that in a year or so, oil company bleeding will turn into a flood of assets available on EnergyNet, bringing buying bonanza not just for private equity types, but for any accredited investor who ever dreamed of owning a slice of oilfield. If you’d prefer to stick with stocks, analyst Bob Brackett at Bernstein suggests that the most action (and risk of bankruptcy) will be in those thinly valued equity issues balanced atop mountains of debt, and suggests that dedicated bottomfeeders could take a flyer on the biggest losers so far, including Whiting Petroleum, Centennial Resource Development, QEP, Chesapeake, Callon Petroleum, Denbury Resources, Extraction Oil & Gas, Laredo Petroleum, Chaparral Energy and California Resources — keeping in mind that some will be a total loss. Brackett’s preferred oil producers, still near record lows, but considerably safer, include ConocoPhillips, Hess, EOG Resources, Apache, Concho Resources and Pioneer Natural Resources.

Atherton and his partners realized coming out of the 2016 oil recession that EnergyNet’s fate was a little too closely tied to the oil industry. So they’ve been working to diversify their platform and now are providing an exchange for 23 commodities, including helium, geothermal, surface rights for wind and solar, and even timber. They know well how tough it is to break into a new business: timber people ignored their listings, until Atherton ordered his team to build a new entryway, called Timber Online. It worked. “It’s a perception thing,” he says. “Now they think we do it all the time.” Just a little insurance, in case this oil thing doesn’t work out.

For more on EnergyNet, check out my 2016 story:

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Source: Oil Bankruptcies Are Coming: EnergyNet, The EBay Of Oilfields, Is Ready To Profit

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Total Cost of Her COVID-19 Treatment: $34,927.43

1

When Danni Askini started feeling chest pain, shortness of breath and a migraine all at once on a Saturday in late February, she called the oncologist who had been treating her lymphoma. Her doctor thought she might be reacting poorly to a new medication, so she sent Askini to a Boston-area emergency room. There, doctors told her it was likely pneumonia and sent her home.

Over the next several days, Askini saw her temperature spike and drop dangerously, and she developed a cough that gurgled because of all the liquid in her lungs. After two more trips to the ER that week, Askini was given a final test on the seventh day of her illness, and once doctors helped manage her flu and pneumonia symptoms, they again sent her home to recover. She waited another three days for a lab to process her test, and at last she had a diagnosis: COVID-19.

A few days later, Askini got the bills for her testing and treatment: $34,927.43. “I was pretty sticker-shocked,” she says. “I personally don’t know anybody who has that kind of money.”

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Like 27 million other Americans, Askini was uninsured when she first entered the hospital. She and her husband had been planning to move to Washington, D.C. this month so she could take a new job, but she hadn’t started yet. Now that those plans are on hold, Askini applied for Medicaid and is hoping the program will retroactively cover her bills. If not, she’ll be on the hook.

She’ll be in good company. Public health experts predict that tens of thousands and possibly millions of people across the United States will likely need to be hospitalized for COVID-19 in the foreseeable future. And Congress has yet to address the problem. On March 18, it passed the Families First Coronavirus Response Act, which covers testing costs going forward, but it doesn’t do anything to address the cost of treatment.

While most people infected with COVID-19 will not need to be hospitalized and can recover at home, according to the World Health Organization, those who do need to go to the ICU can likely expect big bills, regardless of what insurance they have. As the U.S. government works on another stimulus package, future relief is likely to help ease some economic problems caused by the coronavirus pandemic, but gaps remain.

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Here is everything you need to know about what getting treated for COVID-19 could cost you.

How much does it cost to be hospitalized for COVID-19?

Because of our fragmented health care system, it depends on what kind of insurance you have, what your plan’s benefits are, and how much of your deductible you’ve already paid down.

A new analysis from the Kaiser Family Foundation estimates that the average cost of COVID-19 treatment for someone with employer insurance—and without complications—would be about $9,763. Someone whose treatment has complications may see bills about double that: $20,292. (The researchers came up with those numbers by examining average costs of hospital admissions for people with pneumonia.)

How much of that do I have to pay?

Most private health insurance plans are likely to cover most services needed to treat coronavirus complications, but that doesn’t include your deductible—the cost you pay out-of-pocket before your insurance kicks in. More than 80% of people with employer health insurance have deductibles, and last year, the average annual deductible for a single person in that category was $1,655. For individual plans, the costs are often higher. The average deductible for an individual bronze plan in 2019 was $5,861, according to Health Pocket.

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In both complicated and uncomplicated cases, patients with employer-based insurance can expect out-of-pocket costs of more than $1,300, the Kaiser researchers found. The costs were similar regardless of complications because many people who are hospitalized reach their deductible and out-of-pocket maximum.

Many health insurance plans also require co-pays or co-insurance, too. Those costs are often 15-20% for an in-network doctor, meaning you would pay that portion of the cost, and can be much more for out-of-network doctors.

Medicare and Medicaid will also likely cover the services needed for coronavirus treatment, but the details on deductibles (for Medicare) and potential co-pays will again depend on your plan, and which state you’re in for Medicaid.

What if I’m uninsured?

It’s not pretty. Some hospitals offer charity care programs and some states are making moves to help residents pay for COVID-19 costs beyond testing. Several states, including Maryland, Massachusetts, Nevada, New York, Rhode Island and Washington, have created “special enrollment periods” to allow more people to sign up for insurance mid-year.

Other states are requiring coverage of future vaccines or changing rules about prescription medication refills to help people stock up on essential medicines. So far, Maine, Maryland, Massachusetts, Nevada, New Mexico, New York and Oregon have required insurers to waive costs for a COVID-19 vaccine once one is ready, and the states that have loosened rules to help people fill prescriptions include Alaska, Colorado, Delaware, Florida, Maine, Maryland, New Hampshire, North Carolina and Washington.

The Commonwealth Fund, a healthcare think tank, has a coronavirus tracker that’s keeping a list of the moves each state has made so far.

There’s no way I could afford to pay out-of-pocket for care. What can I do?

The U.S. health care system doesn’t have a good answer for you, and it’s a problem. But there are a few things to keep in mind that could help minimize costs.

If you think you may have the virus, the first step is to call your doctor or emergency department before showing up, the CDC says. This will let them prepare the office and give you instructions ahead of time, but it could also save you money. Getting treated in a hospital will generally start off more expensive than a visit to a doctor’s office. Another cost comes from the “facilities fee,” which many hospitals charge anytime a patient comes through their doors. For Danni Askini’s first trip to the hospital in Boston on Feb. 29, for example, she was charged $1,804 for her emergency room visit and another $3,841.07 for “hospital services.”

Other costs to watch out for include lab tests, which can be “out-of-network” even if the doctor treating you is in your insurance network. It’s always best to ask for information in writing so that you can appeal the bills if necessary, says Caitlin Donovan of the National Patient Advocate Foundation. And appealing is worth it. Often, providers and insurers have reversed or lowered bills when patients go public or are covered by the media.

These problems aren’t coming out of the blue. Even when we’re not weathering a global pandemic, Americans face uniquely high health care costs, compared to the rest of the world, and millions of us already put off medical care because of concerns about how much it’ll cost. But with COVID-19 sweeping across the country, an old problem becomes increasingly urgent: many Americans could still face massive treatment bills, or seek to prevent those by avoiding testing and treatment—worsening the outbreak further.

“If you’re sick, you need fewer barriers,” Donovan says. “But also, it doesn’t help society to have people still crawling around going to their job and getting other people sick.”

By Abigail Abrams March 19, 2020

Source: Total Cost of Her COVID-19 Treatment: $34,927.43

I shot this video to share my experiences living with the Coronavirus (COVID-19). I discuss the symptoms I’ve experienced, the treatments that have helped with recovery and the process I’ve been enduring to keep my family safe. Thank you for all of your kind words and support during this event. Positive energy, and prayers will get us all through this and let’s hope for the best outcome in the near future. For more information, including my COVID-19 survival guide, read: https://www.audioholics.com/editorial…  Audioholics Recommendations Amazon Shop: https://www.amazon.com/shop/audioholics Audioholics Recommended Cables: 250ft CL2 12AWG Speaker Cable: https://amzn.to/2vwS9QH Locking Banana Plugs: https://amzn.to/2ZQt15x 9ft 4K HDR HDMI Cables: https://amzn.to/2WiIXeD Audioholics Recommended Electronics: Denon AVR-X4600H 9.2CH AV Receiver: https://amzn.to/2ZTbsCe Yamaha RX-A3080 9.2CH AV Receiver: https://amzn.to/2VzA03v Denon AVR-X6400H 11.2CH AV Receiver: https://amzn.to/2LelABB Audioholics Recommended Speakers: SVS Prime 5.1 Speaker / Sub System: https://amzn.to/2GWoFCn Klipsch RP-8000F Tower Speakers: https://amzn.to/2Vd8QQn Pioneer SP-FS52 Speakers: https://amzn.to/2n7SyIJ Sony SSCS5 Speakers: https://amzn.to/2ndEn56 SVS SB-3000 13″ Subwoofer: https://amzn.to/2XYxqBr Follow us on: Patreon: https://www.patreon.com/audioholics FACEBOOK https://www.facebook.com/Audioholics GOOGLE PLUS https://plus.google.com/+Audioholics TWITTER https://twitter.com/AudioholicsLive #coronavirus #covid-19

China Announces Expulsion of U.S. Journalists

The Chinese government moved Tuesday to strip credentials from American reporters working for the New York Times, The Wall Street Journal and the Washington Post, in a tit-for-tat exchange with the U.S. that has escalated in recent weeks. Beijing also demanded those outlets, as well as TIME and Voice of America, hand over details about personnel and operations.

China’s Ministry of Foreign Affairs instructed Americans working for the three U.S. newspapers whose credentials expire at the end of the year to turn in their press passes within 10 days. Those reporters would then be barred from reporting inside China, as well as in China’s semi-autonomous regions of Hong Kong and Macau. The ministry also demanded information “in written form” about staff, operations, finances and real estate of the five American news organizations, including TIME, in China, Hong Kong and Macau.

The Chinese government said that the move to send reporters out of the country was taken in response to the U.S. not allowing more Chinese nationals working for state-run media to work in the U.S. On March 2, the Trump administration put a cap on the number of Chinese nationals allowed to be employed by five Chinese state-run news outlets operating inside the U.S. That action by the U.S. followed China’s decision to expel three reporters from the Wall Street Journal following the publication of an opinion article critical of the Chinese government. China’s “measures are entirely necessary and reciprocal countermeasures that China is compelled to take in response to the unreasonable oppression the Chinese media organizations experience in the U.S.,” the ministry wrote in a statement.

Secretary of State Mike Pompeo called China’s announcement “unfortunate,” adding in remarks to the press Tuesday that he hopes “they will reconsider.” Pompeo defended the State Department’s actions to limit the staff of Chinese state-run media in the U.S. “The individuals that we identified a few weeks back were not media,” Pompeo said, “but were part of Chinese propaganda outlets.”

If the Chinese Communist Party follows through with the actions, it would mark the most sweeping press expulsions from China since Mao Zedong’s death in 1976. The moves were seen by free press advocates and news organizations as a way to intimidate reporters and chill news gathering operations inside China, which is still managing the fallout of the COVID-19 pandemic that began there late last year.

By Brian Bennett March 17, 2020

Source: China Announces Expulsion of U.S. Journalists

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China has announced it will expel dozens of US journalists working for the New York Times, the Washington Post, and others in what’s being described as the latest “tit for tat” response between the two super powers. For more from ABC News, click here: https://ab.co/2kxYCZY You can watch more ABC News content on iview: https://ab.co/2OB7Mk1 Subscribe to us on YouTube: http://ab.co/1svxLVE Go deeper on our ABC News In-depth channel: https://ab.co/2lNeBn2 You can also like us on Facebook: http://facebook.com/abcnews.au Or follow us on Instagram: http://instagram.com/abcnews_au Or even on Twitter: http://twitter.com/abcnews

The Market’s in Panic Mode.. Stock Markets Plunge 12% Amid Coronavirus Fears

Mandatory Credit: Photo by JAMES GOURLEY/EPA-EFE/Shutterstock (10584160h)
A view of digital market boards at the Australian Stock Exchange (ASX) in Sydney, Australia, 16 March 2020. The ASX dropped more than 7 percent at the opening of trade as concerns over the coronavirus and COVID-19 pandemic grow. Australian Stock Exchange (ASX) drops at opening on coronavirus concerns, Sydney, Australia – 16 Mar 2020

(Bloomberg) — The stomach-turning ride on global financial markets took a dramatic turn Monday, with U.S. stocks plunging the most since 1987 after President Donald Trump warned the economic disruption from the virus could last into summer.

The S&P 500 sank 12%, extending losses as Trump said the economy could fall into a recessoin. Equities opened sharply lower after central bank stimulus around the world failed to mollify investors worried about the damage the coronavirus is inflicting on economies.

The negative superlatives for American stocks are piling up. The S&P wiped out its gain in 2019 and is now down almost 30% from its all-time high. The Dow Jones Industrial Average lost almost 13%, falling 3,000 points to close at at two-year low. The Russell 2000 had its worst day on record, losing more than 14%.

“This is different. The thing that is scarier about it is you’ve never been in a scenario where you shut down the entire economy,” said Steve Chiavarone, a portfolio manager with Federated Investors. “You get a sense in your stomach that we don’t know how to price this and that markets could fall more.”

While the Fed cut rates toward zero and stepped up bond buying, investors continued to clamor for a massive spending package to offset the pain from closures of schools, restaurants, cinemas and sporting events. Companies around the world have scaled back activity to accommodate government demands to limit social interaction.

Here are some of Monday’s key moves across major assets:

  • All 11 groups in the S&P 500 fell, with eight of them down at least 10%.
  • The Dow Jones Industrial Average’s tumble from its record reached 30%.
  • Brent crude dipped below $30 a barrel for the first time since 2016.
  • Treasury yields retreated across the curve with moves most pronounced on the short end.
  • Shares tumbled in Asia and Europe, where the continent is now reporting more new virus cases each day than China did at its peak as more countries lock down.
  • The yen surged, the Swiss franc rallied and the dollar fluctuated.
  • Gold failed again to capitalize on the rush to havens and reversed an earlier gain to tumble.
  • Bonds declined across most of Europe, where a measure of market stress hit levels not seen since the 2011-2012 euro crisis.

The Fed and other central banks have dramatically stepped up efforts to stabilize capital markets and liquidity, yet the moves have so far failed to boost sentiment or improve the rapidly deteriorating global economic outlook. An International Monetary Fund pledge to mobilize its $1 trillion lending capacity also had little impact in markets.

The problem is, bad news keeps stacking up. The New York Fed’s regional gauge of factory activity plunged. Ryanair Holdings Plc said Monday it will ground most of its European aircraft while a consultant said the pandemic will bankrupt most airlines worldwide before June unless governments and the industry step in. Nike Inc. and Apple Inc. announced mass store closings.

“In normal circumstances, a large policy response like this would put a floor under risk assets and support a recovery,” Jason Daw, a strategist at Societe Generale SA in Singapore, wrote in a note. “However, the size of the growth shock is becoming exponential and markets are rightfully questioning what else monetary policy can do and discounting its effectiveness in mitigating coronavirus-induced downside risks.”

The yen rebounded from Friday’s plunge after the Fed and five counterparts said they would deploy foreign-exchange swap lines. Australian equities fell almost 10%, the most since 1992, even after the Reserve Bank of Australia said it stood ready to buy bonds for the first time — an announcement that sent yields tumbling. New Zealand’s currency slumped after an emergency rate cut by the country’s central bank.

Meanwhile, China reported Monday that output and retail sales tumbled in the past two months.

These are the main moves in markets:

Stocks

  • The S&P 500 fell 11.98% as of 4 p.m. in New York.
  • The Dow Jones Industrial Average plunged 12.93%
  • The Stoxx Europe 600 Index lost 4.9%, paring a drop that reached 10%.
  • The MSCI Emerging Market Index declined 6.3%.
  • The MSCI Asia Pacific Index decreased 3.7%.

Currencies

  • The Bloomberg Dollar Spot Index rose 0.2%.
  • The euro gained 0.5% to $1.1162.
  • The Japanese yen strengthened 1.8% to 105.94 per dollar.

Bonds

  • The yield on two-year Treasuries sank 14 basis points to 0.35%.
  • The yield on 10-year Treasuries declined 22 basis points to 0.73%.
  • The yield on 30-year Treasuries declined 22 basis points to 1.31%.
  • Germany’s 10-year yield climbed seven basis points to -0.47%.

Commodities

  • West Texas Intermediate crude fell 9.2% to $29.05 a barrel.
  • Gold weakened 4.3% to $1,463.30 an ounce.
  • Iron ore sank 2.5% to $86.10 per metric ton.

—With assistance from Claire Ballentine, Elena Popina and Elizabeth Stanton.

By Jeremy Herron and Vildana Hajric / Bloomberg

Source: ‘The Market’s in Panic Mode.’ Stock Markets Plunge 12% Amid Coronavirus Fears

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The spread of information is fast, so whatever happens makes the stock market crash fast. People are selling in panic as the market might go down more. The fact is nobody knows what will happen. The only thing that works always is being prepared for anything, invest for the long-term and keep rational. Want to know more about my research and portfolios? Here is my independent stock market analysis and research! STOCK MARKET RESEARCH PLATFORM (analysis, stocks to buy, model portfolio) https://sven-carlin-research-platform… Sign up for the FREE Stock Market Investing Course – a comprehensive guide to investing discussing all that matters: https://sven-carlin-research-platform… I am also a book author: Modern Value Investing book: https://amzn.to/2lvfH3t Check my website to hear more about me, read my analyses and about OUR charity. (YouTube ad money is donated) http://www.svencarlin.com Listen to Modern Value Investing Podcast: https://svencarlin.com/podcasts/ I am also learning a lot by interning with my mentors: dr. Per Jenster and Peter Barklin at the Niche Masters fund. http://nichemastersfund.com #stockmarketcrash #market #stocks

Mapping the Spread of the Coronavirus Outbreak Around the U.S. and the World

ince the first case of COVID-19 was identified in central China in December, the illness has spread across the world, leading to an outbreak that the World Health Organization has called a pandemic. The maps and charts below show the extent of the spread, and will be updated daily with data gathered from over a dozen sources by the Johns Hopkins University Center for Systems Science and Engineering.

Where COVID-19 has spread in the U.S.

Testing for the novel coronavirus that causes COVID-19 was slow to roll out in the U.S., but as more and more Americans get tested, it’s becoming clear that the illness is already spreading in the U.S. It has now been confirmed in some three dozen states, with the largest clusters in Washington state, California and New York.

Where COVID-19 has spread around the world

Over 110 countries and territories, representing every corner of the globe, have now reported at least one case of the novel coronavirus. In total, there are now over 125,000 cases and over 4,600 related deaths.

Which countries have the most COVID-19 cases?

China remains the country with the most coronavirus cases and related deaths, by a significant margin. However, in recent weeks, China has seen fewer and fewer new cases per day, while the count in places like Italy, Iran, Germany, France and the U.S. have risen.

Keep up to date with our daily coronavirus newsletter by clicking here.

Here’s what you need to know about coronavirus:

By Elijah Wolfson

Source: Mapping the Spread of the Coronavirus Outbreak Around the U.S. and the World

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The video shows the timelapse of the coronavirus by map worldwide since January 20, 2020. It first started in Wuhan, Hubei, China, then spread to more than 80 countries by March 5, 2020. Twitter: https://twitter.com/wawamustats Facebook: https://fb.me/wawamustats Source: World Health Organization & CDC Special Thanks to Our Patron: C&MHansen Subscribe here: https://www.youtube.com/wawamustats?s…
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