The Economic Perspective 8/14/2026

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! 

Welcome back to another edition of the Economic Perspective! Last Thursday, TBG team members had the opportunity to tour Rinker Materials concrete pipe factory in Apopka, FL. Team members were shown how the rebar frames and concrete pipes are produced, tested, and shipped. They were also given a presentation on testing and best practices for laying concrete pipe on job sites.

TBG's industry engagement continues later this month at the SASHTO conference On August 25th TBG President Valerie Seidel will be speaking at the Southern Association of State Highway and Transportation Officials (SASHTO) conference. Valerie will discuss current costs and concerns that are impacting State Transportation Agencies, bid prices, and market behavior. You can find more information about the conference here. 

In this week's Economic Perspective, we have articles covering changes to infrastructure spending in the Federal budget, shark finning regulations expected agricultural impacts from El Nino, and more. Our data visualization examines current deficits in how ecological resources are managed.

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 Update

Turmoil is still ongoing in the Middle East, as Iran signaled on Monday that it would keep the Strait of Hormuz closed as talks between the US and Iran have not led to a resolution of the conflict. Energy prices continue to be volatile, with WTI rising to $78.18/bbl. Updated forecasts from the US Energy Information Administration (EIA) revised crude prices down to $80 from earlier estimates of $87 per barrel by the end of year, and further declines to $65 next year - essentially where we were before the Iran conflict started. The construction industry, particularly asphalt, is seeing continued elevated prices on transportation, asphalt binder, and other material costs. Read more here and here.

Senate Passes Stopgap on Some IIJA Infrastructure Funding

On August 8, the Senate passed a bill extending some infrastructure spending from the IIJA but did not extend $9.5 billion in funding for federal highway and bridge investment or $4 billion for public transit. Several stakeholders are pushing to have this funding extended, but as of now, the bill being sent to the House does not contain the necessary language. If stakeholders are successful in having this funding reinstated in the House bill, the differences between the bills will need to be reconciled before September 30, when the current funding bill expires. The airport funding provisions of the IIJA are also being targeted for renewal, particularly by the American Association of Airport Executives. Read more here, here and here.

Dogs and Their connection to Human Emotion

A new study has been released that used brain scans of dogs to see how they react and respond to human emotion. The study showed that dogs are better equipped than we originally thought when it comes to reading various human emotions, such as happiness, sadness, fear, and anger. The study also tested dogs’ responses to odors, and it showed that dogs rely on smells for much of their emotional welfare. A highlight of the study shows the best thing a person can do for their dog is slow down on walks, let random people smile at them, and allow them to smell the various odors of life. Read more here.

Shark Finning Regulations and Shark Populations

During Shark Week, a new study was released covering shark population responses to regulations on finning operations. While regulations have not had a significant impact on reducing shark fin consumption, and shark mortality continues to rise, they have shifted the trade in shark products. Countries that pass regulations export fewer and import more shark products and experience brief declines in consumption for a few years before consumption rates return to pre-legislative levels after an average of seven years. While this can be seen as a disappointing result, it does indicate that greater global efforts are needed to curtail shark finning. Countries with high consumption levels import more shark products from a greater number of nations without regulations. Read more here.

El Nino Impacts on Food Exports

With the coming El Niño predicted to be one of the strongest on records, South American countries are preparing for altered weather conditions that will affect agriculture. El Niño is expected to bring increased rainfall to several areas in South America, hopefully boosting water availability during the Southern Hemisphere’s growing season. However, vulnerable infrastructure remains an issue. If extensive flooding occurs, some areas may not be prepared for the effects. Drier conditions in northern Brazil could potentially threaten the Amazon Basin’s River network and increase the risk of forest fires, which could affect agricultural areas across Brazil, Colombia, and Venezuela. Both positive and negative effects are expected across South America, with broad consequences for global agricultural trade. Read more here.

NIH Limits Public Policy Research Grants

The U.S. National Institutes of Health (NIH) has begun turning away research grant applications related to the health effects of public policy, including those addressing the effects of pollution regulations on human health. The NIH has previously funded environmental protection research relevant to policymakers but is now turning away certain grant applications because policymakers are no longer considered a stakeholder group within the scope of the NIH’s mission. Health services experts have emphasized that public policy must take current scientific evidence into account to help ensure the safety and effectiveness of policies. Read more here.

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Data Visualization of the Week

July 30th Marked the Entire Year's Budget of Ecological Resources

July 30 was marked as Earth Overshoot Day, meaning that by that day, humanity had exhausted nature’s annual budget for ecological resources. Any resource use for the remainder of the year is now occurring at the expense of future resources or beyond what the planet can reliably provide. Human deficit spending of ecological resources has been ongoing since the 1970s and would require over 20 years of complete planetary rest and recovery to erase this debt. Since the 1970s, the date by which ecological resources are exhausted faster than they can regenerate has crept earlier and earlier each year. As we accumulate a larger deficit, we risk not only a longer timeline for recovery but also reaching a point at which much of the damage becomes irreversible. As of now, we need the resource equivalent of 1.73 Earths to meet current needs. Read more here.