A national coben 19 Vaccination Program and 350000000000. 00 for state and local aid it is expected to be sent to the senate on friday nearly 2 weeks before several key provisions from the last package are set to expire. The prices at both gold and oil took a hit on friday with gold declining for the 2nd month in a row as u. S. Treasury yields remain high oil was also down as a selloff in the bond market lifted the u. S. Dollar on top of that we are now learning that last weeks winter storm in texas led to the 2nd largest natural gas withdrawal in u. S. History so joining me now to discuss it all is jane that mckelvey nice c. E. O. Of the mckelvie any Financial Group now david lets start with oil here its now asked him they did that as a result of the production freeze texas likely lost between 18000000 and 40000000 barrels of oil what kind of a long term impact are we looking at here. Right great question i think the long term impact from the freeze is minimal the real impact was last
Export profile that may not ever return certainly not under the Current Administration and to me that is a bigger long term impact of what happened as a result of coal that and the production shut ins in 2020 then the temporary freeze that weve seen in the last week or so so this is just another hit of the country seems to be taking after and are reading along here now at the same time weve seen a lot of optimism when it comes to oil prices bouncing back but some analysts are warning that oil is already too high too soon are there legitimate concerns about whether the demand will be there to match. You know rachel its a great point i think we are ahead of ourselves in terms of demand perfectly matching price and there is still a lot of Economic Activity that needs to return for us to justify a price north of 60. 00 a barrel so hopefully theres global follow through in terms of coat recovery but i would say there are a whole lot of other assets that are way overpriced oil is nowhere nea
Trade restrictions put in place by the last administration but the deal as president gets the back away from the ongoing trade war. Which at 1st sight and sound being revealed this week were taking a look at the role of private companies in Space Exploration we have a lot to get serious so lets get started. The house of representatives is finally set to passed out wong awaited 1. 00 trillion dollars stimulus package labeled by democrats as the American Rescue plan and a Virtual Meeting with the nations governors President Biden said the goal for the package is to provide some much needed relief the economic toll this pandemic continues to tear through our country as broadly as the virus itself. And so we need to comfort the economic you know we we just have to step up the economic toll we have to address with the same aggressiveness and seriousness of purpose as we do the virus and thats what the American Rescue plan does you said chasing covert 19 allows us to get ahead of it. The cur
A selloff in the bond market lifted the us dollar on top of that we are now learning that last weeks winter storm in texas led to the 2nd largest natural gas withdrawal in u. S. History so joining me now to discuss it all is David Mckelvey nice of the mcelwain a Financial Group now david lets start with oil here its now estimated that as a result of the production freeze texas likely lost between 18000000 and 40000000 barrels of oil what kind of a long term impact are we looking at here. Right great question i think the long term impact from the freeze is minimal the real impact was last year when we had the rig count get decimated and so what we really saw as a definitive 2021 event was recalibrating for us production. We continued to expand we got to the point where we were exporting oil not importing and that net export profile that may not ever return certainly not under the Current Administration and to me that is a bigger long term impact what happened as a result of coal it and
It is expected to be sent to the sun on friday nearly 2 weeks before several key provisions from the last package are set to expire. The prices of both gold and oil took a hit on friday with gold declining for the 2nd month in a row as u. S. Treasury yields remained high oil was also down as a selloff in the bond market lifted the us dollar on top of that we are now learning that last weeks winter storm in texas led to the 2nd largest natural gas withdrawal in u. S. History so joining me now to discuss it all is David Mckelvey nice to see the mcelveen a Financial Group now david lets start with oil here its now estimated that as a result of the production freeze texas likely lost between 18000000 and 40000000 barrels of oil what kind of a long term impact are we looking at here. Right great question i think the long term impact from the freeze is minimal the real impact was last year when we had the rig count get decimated and so what we really saw as a definitive 2021 event was recali