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Happy Friday!
Thanks for tuning into another edition of the Economic Perspective! It has been whiplash with tariff announcements this week, and so far, the financial markets are not enjoying the ride.
We hope everyone has had a great week and is looking forward to a warmer (albeit rainy) weather weekend here in the Emerald City. If you're in town and looking for something to do in the drizzle, Sunday, March 9th is a State Park Free Day, welcoming folks to play in one of 144 Washington state parks without the entrance fee.
In other news, March 3rd was United Nations World Wildlife Day. From Grand Teton National Park sharing photos and encouraging visitors to help maintain the Park’s “delicate ecosystem," to videos on Wildlife Conservation Finance, check out how organizations and communities around the world are celebrating wildlife and supporting the achievement of Sustainable Development Goals. Do you live in the Central Florida Area? Visit the Central Florida Zoo & Botanical Gardens on Saturday to help them Celebrate World Wildlife Day! They will be fundraising for Proyecto Titi, which is a conservation organization dedicated to Cotton Top Tamarinds.
Tomorrow (Saturday) is International Women's Day, a global day celebrating the social, economic, cultural, and political achievements of women everywhere. I am so grateful for all of the incredible women who have helped inspire success in my life!
In this edition, we bring you articles on Washington Fish Passage Efforts, the Florida Forever Program, Timber Expansion efforts, and more! Our data visualization for this week showcases the world's most biodiverse countries!
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Have a great weekend!
Trump Issues Executive Order for Timber Expansion
The Trump Administration issued an executive order this week, calling for the immediate expansion of American timber production. This order aims at increasing domestic logging projects across national forests and public lands. Trump declared a national energy emergency when taking office, directing the Endangered Species Committee to consider exemptions related to the Endangered Species Act (ESA) and Marine Mammal Protection Act to expedite timber harvest approvals. The committee has been seldomly utilized in the past and has only issued exemptions twice in 47 years. The committee has seldom been utilized, issuing only two exemptions in 47 years. One exemption was granted for logging on northern spotted owl habitat during the George H.W. Bush administration but was withdrawn after environmental groups sued. Read more: White House | AP News
Florida Forever Program Adds over 34,000 Acres to Conservation Areas
In a recent acquisition approved by Governor Ron DeSantis and the Florida Cabinet, the Florida Forever Program has added 5 major areas of critical conservation land under state protection. The combined 34,595 acres of habitat are all located within the Florida Wildlife Corridor, two within the Caloosahatchee-Big Cypress Corridor, and another within the Ocala-to-Osceola Wildlife Corridor. On top of the acquired acreage, the Governor and Cabinet also approved the acquisition of over 6,000 acres of permanent agricultural land conservation easements under FDACS’ Rural and Family Lands Protection Program. Read more about the acquired lands here.
Construction Spending Flat in January 2025
According to the latest analysis, the Associated General Contractors of America (AGC) report that construction spending in the U.S. was relatively flat (-0.2%) from December 2024 to January 2025, as potential trade tariffs weighed on investment decisions. However, total spending ($2.2 trillion) was 3.3% above the January 2024 rate. Construction spending increased by 6.6% in calendar year 2024 as a whole. “Construction spending growth has been slowing under pressure from high interest costs and now the prospect of new waves of tariffs,” Chief economist Ken Simonson reports. “There have already been notable cancellations and postponements for major manufacturing plants and the impacts of new tariffs are likely to lead to more delays and cancellations.” Highway and street construction spending rose 0.6% in January 2025 compared to December 2024; sewage and waste treatment outlays increased 0.4%; and spending on transportation facilities edged up 0.1%. Read more here.
Cedar Key’s Updated Community Redevelopment Area
In response to repeated hurricane-induced flooding, Cedar Key has integrated resiliency planning into its Community Redevelopment Area (CRA) agenda. The city has faced five hurricanes in the last nine years, each causing substantial storm surges. To bolster infrastructure and community resilience, Cedar Key's updated CRA plan incorporates vulnerability assessments and climate adaptation strategies. The city is implementing living shorelines to combat erosion and enhance habitats by restoring features of natural marsh communities. These initiatives aim to protect the working waterfront and preserve the natural resource-based tourism that is vital to its economy. Florida Sea Grant.
BP Increases Oil and Gas Investments, Drops Renewable Targets
Looking to reduce net debt, BP is looking to reduce renewable energy investments while increasing investments in oil and gas by 20%. Previously, BP’s carbon cutting target announced in 2020 was an industry leading example, but the company claims it had “gone too far, too fast” with their goals. Other oil companies are following suit as they scale back investments in renewables, and investment firms have been withdrawing from Net-Zero initiatives. This includes firms such as Goldman Sachs, Blackrock, Wells Fargo, and more. Read More here and here.
Washington Fish Passage Efforts Highlight Prioritization Problems
Washington State salmon recovery efforts hit a roadblock earlier this week, with lawyers representing both Tribes and state officials asking a federal judge to refer a court case over tribal fishing rights and habitat damage to mediation. Sparking this, in part, was the news by Washington State Department of Transportation (WSDOT) that due to increased costs, the planned finish year of 2030 for culvert replacements toward the goal of salmon recovery would not be achieved – despite nearly $4 billion in investments. The case returns to mediation to adjust the timeline – but chair of the Jamestown S’Klallam Tribe, W. Ron Allen, says the tribes would likely want to reprioritize the planned projects according to amount of habitat restored. In fact, according to an analysis conducted by Seattle Times, for every barrier fixed by WSDOT, nine upstream and two downstream barriers continue to partially or fully block fish passage. Read more here.
Data Visualization of the Week
World's Most Biodiverse Countries
According to a study by World Rainforests, Brazil is listed as home to approximately 13% of global animal and plant species. Some of the world’s most biodiverse countries listed include Indonesia, China, Columbia, Peru and Mexico. These nations have a huge responsibility in biodiversity conversation. However, relative to size, other countries emerge as leaders where biodiversity is most concentrated. For instance, Singapore, Brunei, Eswatini and Rwanda top the list. Read more here.
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