The Economic Perspective 8/28/2026
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Happy Friday!
Welcome back to another edition of the Economic Perspective! This week marks National Park Week! Each day has a specific theme to celebrate the occasion, which you can see here. National Parks are a major driving force in the economy, generating $29 billion in gateway regions, $18.8 billion in labor income, and $56.3 billion in economic output in the national economy. You can view more information on the economic output of national parks here.
This week, TBG President Valerie Seidel and team members Cortney Cortez and Elizabeth Mandell presented at the Southern Association of State Highway Transportation Officials (SASHTO) in Greenville, South Carolina. Valerie Seidel presented on Tuesday, covering current costs and risks for State DOTs and contractors in the industry. You can read more about the schedule of events here.
The photo below was provided to us by Dr. Bill Pine, Scientific Advisor for the Oystermen's Association, depicting some of the restoration work being done. Thank you all for following along as we share these types of cool updates!
In this week's Economic Perspective, we have articles covering Venezuelan oil exports, a Florida Senate bill that would alter requirements for agricultural enclave designation, EPA Superfund site cleanup, and more. Our data visualization features data center moratoriums that have been passed around the country.
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Half of Venezuelan Oil Headed to US
In the past several months, the US has imported close to half of Venezuela’s oil production, 500,000 bpd of its total 1.25 million bpd production. Venezuelan output continues to rise as expectations are for production to reach 1.245 million bpd by the end of August. Venezuelan oil is being refined in the US, and profits are currently being held by the United States; it is currently unclear how much revenue the oil has brought it and how much has been sold. The US State Department has authorized $3 billion in funds to be dispersed to Venezuela for investment. Officials hope that greater investment will pour into Venezuela to help modernize the country’s refineries and bring needed diluents for heavier grades into Venezuela. Read more here.
Limits on Panama Canal Shipping
The Panama Canal Authority has issued an advisory that daily vessel transits will be reduced as a result of significantly below-average rainfall and low watersheds. Draft changes have also been made, and water is currently being conserved for the 2027 dry season. This is expected to have a major impact on the United States, as 72% of ships heading through the canal are either bound for or coming from the US. This could see East and Gulf Coast products bound for Asia see price increases and delays that could threaten the reliability of the market in seeking out American product. West Coast terminals may see increased usage that they do not have the capacity for, and cross-country rail may be pressured to pick up the slack. Read more here.
New FL Senate Bill Changes Designation for Agricultural Enclaves
As of July 1st 2026, Senate Bill 686 amended Florida’s agricultural enclave statute by altering the requirements necessary for designation. An agricultural enclave is a pocket of agricultural land that is mostly surrounded by development. In Brevard County, a 142-acre ranchland development plan rejected before the law took effect was subsequently designated as an agricultural enclave under the law’s relaxed requirements, with developers stating they will pursue the development through the new designation. Proponents say the law allows for landowners to progress development without legal holdbacks from local governments, while opposing parties say that it allows for additional urban sprawl and the loss of critical wildlife habitat connectivity. The bill sunsets January 1st, 2028, and will revert to the previous designation requirements. Read more here and here. (Image source: Paul Fletcher).
USDA Conservation Programs for Farms and Forest Landowners
The USDA Natural Resource Conservation Service (NRCS) in Florida announced the new fiscal year of financial assistance opportunities for agricultural producers and forestry operations. The program has two different routes to apply for with the Environmental Quality Incentives Program (EQIP) and the Conservation Stewardship Program (CSP). EQIP helps agricultural producers and non-industrial forest landowners plan and implement conservation practices that integrate conservation and CSP supports far stewardship. While the NRCS accepts applications year-round, if potential applicants want funding in this cycle, the deadline is October 30th, 2026. Any other applications will be considered for next year’s cycle. Read more here.
EPA Announces 11 Superfund Sites Have Been Successfully Cleaned Up
On August 19th, the EPA announced that 11 Superfund sites, which are sites deemed to be the most contaminated, have been successfully cleaned up enough to warrant deletion or partial deletion from EPA’s list. This deletion process marks the final step in the cleanup process and highlights that these sites can return to being an economic asset for surrounding communities. Over the past 15 years cleaned up superfund sites have generated over $868 billion for local communities and been an important source for employment. Read more about the announcement and find a list of sites that are being deleted here.
Washington State Department of Commerce Announces Grant Opportunities
The Washington State Department of Commerce has announced $1 million in grant opportunities for seven businesses and organizations. Specifically, this includes $150,000 to four businesses and $130,000 to three industry cluster organizations that help accelerate manufacturing expansion, create workforce development, and economic opportunities across the state. The program will target projects in underserved and rural communities and help build a stronger workforce in the state for companies that are seeking to increase production capacity, new technologies, and other important industry developments. Read more here.
Data Visualization of the Week
Data Center Moratoriums
As public pushback to data center construction has seen a dramatic increase in moratoriums, questions are being asked about how this will affect the boom. Despite significant local fights against data center construction, many planned projects continue forward with only limited delays. New York became the first state to pass a statewide moratorium to refine standards and review and research environmental impacts. Once standards are set, the moratorium will end. This is a similar story playing out around the country as data centers are merely delayed. While some bans and over 250 moratoriums have passed, expectations are mixed about how this will affect the $7 trillion industry moving forward, as many data center projects continue without restriction, and thousands have already been constructed. Interconnected has released the data center moratorium tracker below to see where they are occurring. Read more here, here, and see the data tracker here.
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