Nov 20, 2020
HENDRICK URGES LEADERS TO TAKE PRECAUTIONS AS COVID-19 CASES APPROACH SHUTDOWN THRESHOLD IN ABILENE
“The Abilene Chamber of Commerce’s mission is to develop and promote the economy and quality of life in our area. By signing onto this letter, your business community commits to doing all that’s reasonable and necessary to maintain an open economy while helping Hendrick manage the stressful burden on our health system.” - Doug Peters, President & CEO of the Abilene Chamber of Commerce

Hendrick Health System is urging local community leaders to take precautions as the number of COVID-19 cases approaches a level that warrants further shutdown from the state.

“The unthinkable has happened, and we are on the trajectory to reach the level that will trigger a shutdown of our economy by the State within the next two weeks,” Hendrick officials explain in a letter to local leaders.

In the letter, these officials say there were 101 patients hospitalized with COVID-19 in the Big Country’s Trauma Service Area as of November 19, and if the number of hospitalized patients reaches 145, further restrictions could be enacted.
‘IT’S HERE’: GOV. ABBOTT SAYS COVID-19 TREATMENT DRUG IS IN TEXAS, TO BE DISTRIBUTED
Texas Gov. Greg Abbott said Thursday a newly-approved treatment for COVID-19 has made it to Texas.

Abbott said the drug bamlanivimab, an antibody therapy developed by Eli Lilly and Company that is the first immediate use medical treatment authorized by the U.S. Food and Drug Administration for COVID-19 patients, is ready to be distributed around the state.

The drug is given through an intravenous drip, and he said the Lubbock area has received its first allocation of the drug. More places around Texas will get it on a weekly basis, he said.
SEVEN RESOURCES FOR PPP LOAN FORGIVENESS HELP
Earlier this year, as part of the CARES Act, the federal government created the Paycheck Protection Program (PPP) to provide a financial lifeline—that could be forgiven later if the right circumstances were met—to businesses in the wake of the COVID-19 pandemic.
From timelines and step-by-step calculations to paperwork walk-throughs and FAQ's, check out these 7 resources from the U.S. Chamber's CO— to help business owners navigate how to get full PPP loan forgiveness.
Small Business Administration (SBA)'s PPP Forgiveness FAQ
Click here to view the SBA's substantial document of questions and answers regarding forgiveness.

General Forgiveness Tutorial for Most PPP Loans
Click here to view a video outlining forgivable and non-forgivable expenses, how to fill out forgiveness application, forgiveness calculation examples and more from Hector Garcia— a CPA with more than 100,000 subscribers on YouTube.

Guide to Tax Implications of PPP Loans
Click here to view the CO— guide to tax implications of PPP loans.
EIA PREDICTS FIRM NATURAL GAS PRICES
Coming off record production and consumption in 2019, the natural gas industry is poised for another big year in 2020 but it will not match last year because of the economic downturn caused by the coronavirus pandemic.

Natural gas prices at the wellhead have firmed since crashing in April dropping below $1 per million British thermal units (mmBtu) on the New York Mercantile Exchange during the second quarter. In West Texas, where there was a huge oversupply, prices dropped into negative territory but have increased to $2.49 at the Waha exchange on Nov. 11.

The Energy Information Administration (EIA) expects rising domestic demand for natural gas and demand for LNG exports heading into winter, combined with reduced production, will cause Henry Hub spot prices to rise to a monthly average of $3.38 per mmBtu in January 2021. EIA expects that monthly average spot prices will remain higher than $3 throughout 2021, averaging $3.13 for the year, up from a forecast average of $2.07 in 2020.
WHAT WE'RE READING

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NOV 20 ENERGY AND ECONOMY CONFERENCE The Federal Reserve Banks of Dallas and Kansas City will host their fifth joint energy conference on November 20 virtually. Leading energy experts will join Dallas Fed President Robert Kaplan and Kansas City Fed President Esther George in conversation about the state of the energy sector, the outlook for global oil and gas markets, opportunities and risks of the global energy transition, challenges in energy finance, and the changing U.S. energy landscape. Register here.

DEC 3 TEXAS CONFERENCE FOR EMPLOYERS PRESENTS LUNCHTIME LIVE!
Topics Include: Workers’ Compensation, Civil Rights in the Workplace, Office of Economic Dev., Employer Commissioner. Register here.