The Economic Perspective 3/6/2026

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! 

Hello and thank you for tuning in with us here at TBG once again! This week, TBG’s Laila Racevskis attended the Florida Wildlife Corridor Foundation’s Mind the Gaps workshop in Crystal River. Land conservation experts, practitioners, and local interested parties shared insights on how to protect the most critical Wildlife Corridor linkages in Florida’s Nature Coast region. Various conservation levers were discussed, including payments for ecosystem services, Corridor Compatible Communities, conservation easements, and many others, and how these could be implemented to protect valuable natural resources in the region. 

Also this week, TBG members in Orlando participated in the Inua 5K, an annual event to benefit orphaned Kenyan youths. However, we at the Seattle office can't let Florida have all the fun! Next month, Seattle will be (virtually) joining the Florida team for the AdventHealth Corporate 5K! Pictured above at the Inua event, from left to right: Megan and Nate Willbur, PE, RSP with their daughter, Elizabeth Harms, Ross Pierre, Gregory Seidel, and Katie Seidel.

Articles this week touch on a variety of topics including the impacts on the global energy market from the ongoing conflict in Iran, recent news in Washington State legislation, and environmental policy updates. Our featured data visualization of the week covers last summer's heat waves across the southeastern U.S.

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!

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Iran War and Global Energy; Short-term Impacts May Have Long-term Ramifications

Everyone is wondering what will happen with gas prices and energy supplies in general after the Middle East strikes. Investment bankers have already analysed likely cost impacts; with Goldman Sachs and Wood McKenzie estimating a sustained conflict could send oil above $100 a barrel, while a Middle Eastern oil benchmark surpassed $100 a barrel this morning (Friday 3/6/2026). Poten tankers report that despite promises of insurance, tanker owners are reluctant to take risks with their crews, while JPMorgan and the insurance sector’s assessment finds that the U.S. Development Finance Corporation, which would underwrite the insurance, is short about $200 billion of being able to cover the $350 billion needed to cover the ships at risk currently. Ships face oil‐pollution, salvage, hull and third‐party liability coverage needs. Meanwhile, Maersk, the world’s second largest container shipper, suspended shipping routes temporarily due to the conflict, disrupting supply chains and rapidly escalating freight rates. In short, expect volatility in energy prices for the foreseeable future – and renewed emphasis on renewables to avoid disruptions like this. Read more here and here.

Bill to Restore Natural River Flow Passes in Florida 

This week, Florida’s House of Representatives passed a bill 107-3 to breach the Kirkpatrick Dam on the Ocklawaha river, intending to restore the river to its natural flow. Supporters of the bill highlighted its positive impact on manatee habitat, native fish population, and natural springs. An opponent of the bill, Rep. Sapp of Putnam County (could skip his name to shorten article), argued that the reservoir created from the dam is important to the surrounding rural community due to tourism from bass fishers. Some proponents of the bill fear Governor DeSantis's potential to veto the funding due to similar events having occurred in the past, but many remain hopeful since he advocated for the bill in the House this session. Read more here.

National Environmental Policy Act Makes Agreements with States on Environmental Reviews

The Federal Highway Administration has announced over the past several months that various states, including Nebraska, Maine, California, Texas, Florida, and others have entered into agreements under the National Environmental Policy Act. This rule will allow states to handle some federal environmental review responsibilities for transportation and other infrastructure projects. The hope is that this will reduce redundancies, costs, and time spent for transportation projects while still being able to ensure proper environmental considerations. Read more here.

CA Finalizes Deadline for Companies to Report GHG Emissions

The California Air Resources Board, a branch under the California Environmental Protection Agency, recently approved the first-year deadline of August 10, 2026, for companies to report greenhouse gas emissions (GHG) pursuant to Senate Bill 253. Corporations generating annual revenue over $1 billion in-state will be required to report Scope 1 and 2 emissions, as Scope 3 will be required in 2027. According to a CDP report, Scope 3 emissions account on average for 75% of a company’s total emissions. Senate Bill 261 requires entities with revenue reaching over $500 million to biennially report, but is currently on pause pending court orders. These bills reflect the rise in legislature nationwide towards recording corporation GHG inventories to better inform decision-making for mitigating climate change. Read more here.

Washington State’s Urban Forest Funding in Jeopardy

A budget legislation proposal introduced this week in Washington State has shocked agency officials by eliminating state funding for Washington Department of Natural Resources’ Urban and Community Forestry program.  The program, which receives state funding through Washington’s Cap-and-Trade program, helps vulnerable communities build urban forests, plant trees, and combat heat islands by introducing additional vegetation. While losing state funding is dire enough, officials say that federal funding is also in jeopardy as the federal grants that support the program require matching state funds or staff-time, which are being eliminated by this budget proposal. Read more here.

Washington Data Center Legislation Loses Legs

This week, a Washington State House Bill to regulate how data centers operate failed to inspire a vote, leaving the bill to be dropped for the current legislative session. Supporters of the bill in its original form touted regulations towards clean energy requirements and power usage during peak demand, but amendments limited these regulations even before the bill died – one such amendment removed a state fee, the proceeds for which were intended to assist low-income families to weatherize their homes. Tech companies, at the heart of the opposition, argued that the bill adds undue costs and that transparency requirements could expose trade secrets. Read more here.

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Data Visualization of the Week

Record Breaking Heat Waves

NOAA has been utilizing their Global Forecast System (GFS) model which uses data from the Joint Polar Satellite System (JPSS) to provide weather forecasts and track temperature data. Below you can see record breaking heat waves in the pink and orange areas. These heat waves apparent in June 2025 were caused by a heat dome effect where high-pressure air forces the jet stream northward, trapping hot air closer to the ground. As heat conditions were expected to subside, the jet stream continued to trap hot air, prolonging an already extended heat wave. This led to heat advisories in multiple parts of North America and increased rates of heat exhaustion and heat stroke. Read more about these heat waves last summer here.