The Economic Perspective 10/03/2025

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! 

Welcome Back!

The world of Conservation has sad news this week. Vale Jane Goodall, who passed this week; her precedent-setting work inspired generations of young scientists, particularly women, to pursue conservation. Jane's early observations that chimpanzees coordinated activities, exhibited complex emotions and social bonds, used tools and displayed altruism, challenged scientific thinking at the time and forever changed the face of Conservation. She also maintained a famous sense of optimism. One of her many quotes applies across disciplines: "Change happens by listening and then starting a dialogue with the people who are doing something you don't believe is right.”

This week's articles highlight news on energy economics and new technological developments in energy. In our first article we discuss the World's first carbon border tax to be passed by the EU. Our fourth article covers Duke Energy considerations in Nuclear as well as extensions on their coal-powered plants. Our last article covers new technology being developed to collect solar energy in space and shoot the energy back down-to-earth using lasers. Additionally, we have articles on consumer confidence, and ongoing efforts cleaning up from last year's Hurricane Helene. Our data visualization covers costs associated with nature loss.

Please feel free to forward this to anyone you think would be interested. If you’d like to view previous editions please click here, or to subscribe please click here! Thanks for reading and have a great weekend!

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The World's First Carbon Border Tax Will Soon Go Live, Shaking Global Trade

The EU is less than three months away from launching a carbon levy, which would be the world’s first large-scale border tax on carbon-intensive goods. Starting on January 1^st the EU’s Carbon Border Adjustment Mechanism (CBAM) will impose a cost on some goods imported from outside the EU. Importers will be required to purchase CBAM certifications to cover emissions. The US, China, India, and Brazil has raised concerns over this and threatened to take retaliatory measures. Despite the pushback, CBAM will serve as an example for other countries in years to come. Read more here

Consumer Confidence is Lower than Expected as Wall Street Braces for Shutdown Data Blackout

Consumer confidence has edged lower in the past month ahead of an expected data blackout caused by the looming federal government shutdown. Consumer assessment of business conditions was much less positive than in recent months and their appraisal of current job availability fell for the ninth straight month. The Bureau of Labor Statistics said job openings totaled 7.3 million which is down 422,000 or 5.5% from the same time last year. Labor confidence has declined with only 26.9% of respondents saying jobs were plentiful, 3 percentage points down from last August. Read more here.

North Carolina's Rivers and Streams, the Cleanup of Helen's Fury Seems Never-Ending

It has been about a year since Hurricane Helene hit North Carolina, but with over $800 billion in damages, cleanup efforts are still ongoing. Besides the storm itself, additional damage was incurred during initial cleanup events: the quick removal of cars and debris and other large objects from waterways caused damage to sensitive habitats and contractors reportedly cut down healthy trees in efforts to hastily remove debris. Smaller pieces of debris continue to exist in local waterways and are in the process of being removed. Efforts to restore environmental damage are ongoing as well. Read more here.

Duke Energy Considers Nuclear and Coal Extensions in Carolinas Energy Plan

Duke Energy is considering adding large nuclear reactors to its fleet and extending the life span of several of their coal reactors in an effort to meet rising energy demands in the Carolinas. Grids across the US are expecting or already dealing with large power demand increases that require upgrades to infrastructure across the country. These demands over the next 15 years are expected to be 8 time greater than the last 15 years. If Nuclear reactors are approved this will be the first time new nuclear power plants will be built in decades. Duke hopes to double their battery storage capacity to 5,600 megawatts as well and maintain the target of 4,000 megawatts of solar capacity. Read more here.

European Oil Refiners Bet on Green Projects to Secure Long-Term Future

European oil refineries are currently having to invest in energy transition projects as foreign competitors have prompted plant closures in Europe. Investments in cleaner technologies such as biofuels have been ramped up to try and stay competitive. Companies are hopeful that investing in biofuel production capacity will keep them competitive in European markets. Support from government is also vital as governments risk overreliance on foreign energy and imports. Currently 30% of the UK’s energy is imported. Read more here.

Meet the Startup Testing Space-Based Solar Farms that Use Laser to Send Power to Earth

California-based startup Aetherflux is testing designs and plans originally thought to be simply science-fiction. Aetherflux plans to send their new technology, solar panels that shoot energy back down to earth using lasers, into orbit starting next year. Aetherflux has been working with the U.S. Department of Defense, along with investing from Bill Gate’s Breakthrough Energy Ventures. Currently the technology is unsurprisingly expensive, but with advancements in launch technology will help close the gap with other energy options. Read more here.

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Data Visualization of the Week

Nature's Price Tag: The Economic Cost of Nature Loss

As economic advancement continues to exploit nature there remains an important issue of what nature losses will have on the economy. Ceres has released a report on what expected losses are and what factors of environmental disruption are contributing to them. A highlighted cost in this report was that due to bee population loses in the United States, U.S. farmers have paid over $400 million in 2024 for hired pollination services or investments into mechanical pollination. Natural disasters present major damages that will threaten economic developments. Below is a breakdown of losses that companies are expected to face from physical risks associated with nature loss. Read more and download the report here.