The Latest Trending Economic, Environmental and Infrastructure News Curated for You by The Balmoral Group
The Balmoral Group provides practical, professional and precise Economics, Data Analytics, and Engineering Consulting services and is part of a globally integrated team.
Happy Friday!
Good Afternoon Readers,
In contrast to last week, where snow fell in the Florida Panhandle, today is remarkably comfortable with highs in the low 80's in Central Florida. Today is National "Fun at Work Day", an unofficial holiday celebrated on the last Friday of January and here at TBG we will be gathering this afternoon to enjoy our time together. We hope our readers are working some extra fun into their workday today.
It was also announced earlier this week that on March 14th state economists in Florida will update revenue estimates in a key meeting ahead of the 2025-2026 budget negotiations. These numbers provide crucial figures as lawmakers craft a new budget. Sales tax remains the largest source of funding for schools, healthcare, and prisons. You can read more about this here.
TBG team member Cortney Cortez will be attending the 9th Annual Meeting of the Southeast & Caribbean Disaster Resilience Partnership (SCDRP) next week in Wilmington, NC; it is currently sold out and if you are also attending she would be thrilled to connect with you. The theme of the conference is "Cultivating Climate-Resilient Communities: Advances in Communication & Collaboration". Since its inception in 2016, the SCDRP has grown into the largest cross-sectoral, multi-disciplinary, regional network for resilience professionals from Federal, state, territory, and local government, non-governmental organizations, academic institutions, business, and industry. SCDRP is the only regional collaboration network for professionals in emergency management, climate adaptation, resilience, and disaster preparedness, response, and recovery specifically focused on the U.S. Southeast and Caribbean region.
In this edition, we bring you articles on intentional environmental crimes, congestion pricing in New York, wildlife’s contribution to human-wellbeing, and more. Our data visualization this week shows US GDP growth in 2024.
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Have a great weekend!

Intentional Environmental Crimes Could be Felony under Proposed WA Law
Currently in the state of Washington, intentional environmental crimes are misdemeanors, with violators paying a price for violating environmental laws. A bill before the Washington state Senate this week could up the ante, making it a Class B felony to knowingly pollute in a way that endangers community members. This type of classification would make punishable by up to 10 years in prison and a fine of up to $20,000. Advocates of the bill see it as a method to curtail negligent violations of environmental law and future environmental disasters; Critics worry that the bill could end up hurting ranchers and other workers. Read more here.

New York Says 1 Million Fewer Vehicles Have Entered Manhattan Since Congestion Pricing Start
Due to congestion pricing the Metropolitan Transportation Authority has stated 1 million less vehicles have entered Manhattan and cut down on commute times. Inbound trips have decreased by 10-30% and subway ridership has increased 7.3% on weekdays and 12% on weekends. Under this program vehicles are charged $9 during peak periods in Manhattan south of 60th street. Before the fee traffic was slowed down to 7 miles per hour which was 23% slower than in 2010. The fee also raises money for subway and bus systems as well as commuter rail systems. Read more here and here.

Wildlife’s Essential Role in Human Well-Being
A new study by the World Wildlife Fund highlights that wildlife’s contributions to human well-being are largely overlooked in science and policy, and are threatening global conservation goals. The study shows that out of 18 ways nature contributes to people, or NCP categories, at least 12 depend on wildlife, from food and tourism to ecosystem regulation. Especially impactful are declining vertebrae populations, down 73% since 1970, which in turn disrupts ecosystems and economies and particularly affect indigenous and resource-dependent economies. The study also calls for stronger biodiversity policies, improved monitoring through AI and satellite technologies, and increased funding while urging global leaders to recognize and protect the essential benefits of wildlife. Read more here, and find the full study here.

Brightline Sets Example for Successful Privately-Owned Transportation Infrastructure
Florida's Brightline railway showcases the advantages of privately-owned infrastructure, offering a modern alternative to traditional transportation methods. Since its 2018 launch, it has expanded its routes and services, proving more efficient than public projects such as California’s high-speed rail which has seen many delays and financial challenges. Brightline continues to highlight the potential for private enterprises to enhance public services when combined with specific governmental support. Its ongoing expansion demonstrates the future of U.S. intercity travel, with plans to connect major cities such as Tampa Bay and Jacksonville. Further plans include Brightline West which would include a Los Angeles to Las Vegas route. Read more here.

Washington State University Researchers Develop New Hydrogen Storage Method
Earlier this month, a study was published in the International Journal of Hydrogen Energy which demonstrated that a lignin-based jet fuel, developed by researchers at Washington State University (WSU), could be used to store hydrogen in liquid form. The research, done in conjunction with Pacific Northwest National Laboratory, the University of New Haven, and Natural Resources Canada, built on WSU Professor Bin Yang’s development of the fuel which uses plant-derived lignin as a base and is primarily created from agricultural waste. Now, the fuel is being used to store hydrogen, also - and the potential to store the element at high-density within the jet fuel could eliminate the need for high-pressure storage tanks. Read more here and read the open-source article here.

Energy Transition and Idle Facilities in the Gulf
Joint industry projects (JIPs) are cooperative strategies between the industry groups to help deal with the technical challenges in deepwater or harsh subsea conditions. One of the challenges currently facing the offshore energy sector in the Gulf of Mexico is addressing the costs associated with decommissioning of the gas production facilities that have reached the end of their lifecycles, also known as “idle iron” or “orphan wells”. The JIP process can be used effectively to address challenges of deepwater exploration and reducing significant decommissioning costs. An example from a 2015 effort is the JIP managed by Endeavor Management that supporting the global best practice for subsea decommissioning. In 2023, the Repurposing Offshore Infrastructure for Clean Energy (ROICE) program began studying the feasibility of repurposing fixed structures for green hydrogen, wind energy and/or CO2 injection. The ROICE Program Collaborative (RPC) includes stakeholders such as those from the energy industry, academic and national research labs, and others engaged in the offshore energy transition including Endeavor Management. Read More at: Offshore Magazine.

DeepSeek’s AI Restricted by ‘Hundreds’ of Companies and Government Agencies
The Chinese artificial intelligence startup DeepSeek has been restricted by hundreds of companies around the world in recent days due to concerns about potential leaks to the Chinese government and privacy safeguards. According to DeepSeek’s own privacy policy, it collects and stores data in servers in China. Thus, this has alerted governments to scrutinize DeepSeek’s privacy controls. For instance, Italy’s privacy regulator ordered DeepSeek blocked, while Ireland Data Protection Commission requested further information from the company to determine if it is properly safeguarding user data. Read more here.
Data Visualization of the Week
US Economic Growth Slowed in Q4 2024, but Still Remains Resilient
According to the Bureau of Economic Analysis, the US real GDP growth in the fourth quarter of 2024 was 2.3%. This was a much slower growth compared to the third quarter of 2024. Consumption, government spending and net exports contributed positively to the overall GDP growth in the fourth quarter of 2024, while inventories declined in Q4, negatively affecting GDP growth. Read more here.
Click the visual below for more information.
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