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News roundup for Fri, Nov 26, 2021
There's a new concerning variant of the coronavirus emerging, this time from South Africa. Initially labeled as Nu, it's now officially named Omicron by the WHO. This variant has over 30 mutations in its spike protein, which may allow it to evade immune responses—making both vaccines and prior infections less effective. While only around 1,200 cases have been reported so far, it appears to be outcompeting Delta in South Africa. The variant has already spread to Belgium, Hong Kong, and Israel. In response, Israel, the UK, and the EU have imposed travel bans on several African nations. Some experts argue that these measures might be premature, given the limited data available. BioNTech is currently evaluating whether its current vaccine offers protection against Omicron. If not, new variant-specific boosters may soon be necessary. We'll continue to monitor developments closely.
In other news, Russian President Vladimir Putin has issued strong warnings to NATO, expressing concern over the alliance’s expansion near Russian borders and its use of missile defense systems. While these systems are primarily defensive, some can also be used offensively, increasing tensions between Russia and NATO.
A recent study highlights the effectiveness of wolf re-entry programs in reducing deer-vehicle collisions. These programs have proven so successful that they save communities significantly more money than the cost of livestock losses due to wolf attacks. One report found that for the average county, wolf entry reduced deer-vehicle collisions by 24%, resulting in economic benefits 63 times greater than the costs of verified wolf predation on livestock.
Meanwhile, labor negotiations at U.S. ports could worsen existing supply chain issues. With the West Coast ports facing contentious talks, there's a risk of further disruptions. In fact, three of the last four negotiations led to operational slowdowns. This comes at a critical time, as the country is already dealing with a major supply chain crisis and upcoming midterm elections.
Logistics delays are also affecting the ethanol supply chain, which plays a key role in supplementing gasoline. Rising ethanol prices are adding to the pressure on already high gas prices.
On the financial front, Black Friday turned into "Red Friday" as stock markets suffered their worst selloff in 70 years, driven by concerns over the new variant. Investors are clearly worried about the potential impact of Omicron on the global economy.
Globally, there are now 260.7 million confirmed COVID-19 cases, with over 5.2 million deaths. In the U.S., there have been 49 million total cases, including over 600,000 added in the past week. Nearly 800,000 Americans have died from the virus, with over 7,000 new deaths reported in the last seven days. Thanksgiving Day saw only 27,000 new cases, but this likely reflects a reporting lag due to the holiday.
Despite having effective antiviral treatments available, access remains a challenge in the U.S. due to poor testing infrastructure. Tests are difficult to obtain, and long backlogs delay results, making it hard for patients to receive treatment in time.
Finally, Europe is once again seeing a rise in cases, with Central Europe particularly affected. Cases are climbing above previous levels, signaling another wave of infections. Public health officials are urging caution as the situation evolves.