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Smith's Research & Gradings
Volume: 
XXIX
Issue: 
4
Author: 
March 1, 2021

Smith's Research & Gradings

Pandemic Event Risk: National Emergency Extended

Pandemic Event Risk: National Emergency Extended

The National Emergency has been extended according to a letter from President Joe Biden to The Congress of the United States. On Feb. 24, President Biden wrote:

Section 202(d) of the National Emergencies Act (50 U.S.C. 1622(d)) provides for the automatic termination of a national emergency unless, within 90 days prior to the anniversary date of its declaration, the President publishes in the Federal Register and transmits to the Congress a notice stating that the emergency is to continue in effect beyond the anniversary date.  In accordance with this provision, I have sent to the Federal Register for publication the enclosed notice stating that the national emergency declared in Proclamation 9994 of March 13, 2020, beginning March 1, 2020, concerning the coronavirus disease 2019 (COVID-19) pandemic, is to continue in effect beyond March 1, 2021.

There remains a need to continue this national emergency.  The COVID-19 pandemic continues to cause significant risk to the public health and safety of the Nation.  More than 500,000 people in this Nation have perished from the disease, and it is essential to continue to combat and respond to COVID-19 with the full capacity and capability of the Federal Government.

Therefore, I have determined that it is necessary to continue the national emergency declared in Proclamation 9994 concerning the COVID-19 pandemic.

                            JOSEPH R. BIDEN JR.

THE WHITE HOUSE,
February 24, 2021.

At least 3,210 new coronavirus deaths and 70,768 new cases were reported in the United States on Feb. 24. Over the past week, there has been an average of 68,123 cases per day, a decrease of 35 percent from the average two weeks earlier. As of Feb. 25, more than 28,353,200 people in the United States have been infected with the coronavirus according to a New York Times database.

New York Gov. Andrew Cuomo's controversial March 25 order that required nursing homes to admit COVID-19 patients was deleted from the state of New York's website, according to MS News.

On May 10, Gov. Cuomo released new guidance that prohibited hospitals from sending people who tested positive for COVID-19 back to nursing homes, though his administration said the new guidance added to — but did not replace — the original order.

At least 5,800 people have died in New York nursing homes and adult care facilities.

On Wednesday, the state of New York's website displayed an error message, stating the "page that you are looking for is not found," in place of a link to the original document. The March 25 order is only accessible through an archived version of the webpage, posted by the Internet Archive's Wayback Machin

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Clean Energy Needs Reliability Requirement

Clean energy needs to include reliability requirement as new technology advances. Transformation of the energy mix used in electricity generation globally has been focused on development of renewable sources of energy such as wind and solar, but the major stumbling block has remained reliability.

Treasury Secretary to Close COVID-19 Lending Facilities

On Thursday, November 19, Treasury Secretary Mnuchin sent a letter to Fed Chair Powell indicating that he would be allowing most of the Fed's 13(3) emergency lending facilities to expire at year-end, and requesting that the Fed "return unused funds to the Treasury" in order for Congress to "re-appropriate $455 billion, consisting of $429 billion in excess Treasury funds for the Federal Reserve facilities and $26 billion in unused Treasury direct loan funds."

La Niña and Arctic Oscillation Bring Winter Storms

Extreme winter weather hit 44 states and caused power outages for millions of Americans. Texas reported 10 deaths due to the cold temperatures. Smith's ESGradings has conducted decades of research on climate change. This year's events are due, in part, to La Nina.

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