The Latest Trending Economic, Environmental and Infrastructure News Curated for You by The Balmoral Group
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Happy Friday!
Welcome back to another Economic Perspective! With the blistering heat wave upon us we hope you took time to cool down with some sweets to celebrate National Ice Cream Day that was on the third Sunday of this month.
This week, The Balmoral Group is gearing up for the upcoming American Water Resources Association Florida section meeting, where TBG’s President Valerie Seidel is also President of AWRA Florida chapter. AWRA is a scientific non-profit that is devoted to promoting understanding of water resource issues by facilitating information exchanges and opportunities for professional development. They will be diving into water resource management, resiliency and updates regarding other key topics. We will be sure to follow up here and let you know what develops at the meeting!
In this edition we bring you stories on environmental policy updates and funding, the wildfires scorching California and good news about a critically endangered crocodile. Our data visualization is from Our World in Data and lends insight into the dangers of extreme heat and global inequality in access to air conditioning. We hope you enjoy the read and let us know what you think! Feel free to share this with your friends and stay tuned for the next Economic Perspective. If you’d like to view previous editions please click here, or to subscribe please click here!
Thank you and have a great weekend!
In Washington State, Electrochemical Technology May Help Oceans Absorb Carbon Dioxide
Port Angeles, WA, is the study area of Ebb Carbon’s newest effort in addressing the threat of climate change. Instead of focusing on decreasing emissions, this company is proposing the use of electrochemical technology to soak up carbon dioxide from the air. If approved, this pilot project will pull seawater from Port Angeles harbor and treat it to reduce acidity. When the water is returned to the harbor, it will be more capable of absorbing CO2. The project is expected to take two years and will provide valuable insight into the field of carbon reduction. Source: Ecology WA
Endangered Crocodiles in Cambodia Set Hatching Record of the Century
Last month, 60 Siamese crocodiles were born in Cambodia, marking a monumental 15% increase in the population. Due to decades of hunting and habitat loss, only 400 olive green crocodiles are estimated to be left, causing this species to be labeled as critically endangered. In fact, at one point the species was reported to be virtually extinct due to commercial hunting and farming. While they still face an incredible journey to leave the endangered category, teams in Cambodia are doing everything they can to help these 10-foot-long reptiles get there, including beach patrols and security. Source: BBC
Conservation Efforts Release 1,000th Florida Grasshopper Sparrow into Wild
With the population of the Florida grasshopper sparrow down to only 11 breeding pairs in 2018, the Florida Fish and Wildlife Conservation Commission (FWC) partnered with White Oak Conservation and other organizations to preserve this bird subspecies. The resulting conservation breeding program has been successful, with an increase to more than 37 breeding pairs in 2023 and the release of its 1,000th program-reared bird on July 16th. However, for the population to fully recover in the wild, other conservation efforts such as nest protection and habitat preservation are crucial. Source: FWC
California Fires Exacerbated by Extreme Heat Waves
While the number of fires in California is on par with any other fire season, the number of acres burned has nearly doubled. 242,000 acres have been hit by the extreme weather, where the heat has been drying the landscape out, making it particularly susceptible to burning. Although California had two wet winters, prompting the National Interagency Fire Center (NIFC) to predict modest fire activity, recent heat has made the bountiful grass perfect fuel. The NIFC updated their forecast as events like the current Lake Fire northwest of Santa Barbara continue to rage on at 73% containment with more than 2,000 firefighters on site. Source: NBC
Grant Funding Totaling $4.3 Billion for Clean Energy Technology
The Biden Administration recently announced awards for 25 projects in 30 different state, local and tribal governments as part of the Climate Pollution Reduction Grant Program, an effort to deploy clean energy technology through the Inflation Reduction Act. Together, these combined projects are projected to reduce greenhouse gas pollution by 150 million metric tons of carbon dioxide equivalent by 2030. They range from increasing efficiency in the housing sector to decreasing waste and pollution in the agriculture and industrial sectors. Some states amongst the grant winners are Alaska, Michigan, southern California and Nebraska, who will all be receiving funds in early fall. Information about the winners here. Source: Reuters
Data Visualization of the Week
Climate Change and Extreme Heat: Air Conditioning Helps, but Is Not an Option for Many
Our World in Data has produced an article and series of visualizations describing how access to air conditioning can be very helpful in protecting people as climate change makes heat waves more severe. There is great inequality in access to air conditioning around the world as many people, especially in the hardest-hit countries, lack respite from dangerous heat because they cannot afford it or work outdoors. However, economic development may help more people afford to buy and use cooling as their incomes rise. Source: Hannah Ritchie - Our World in Data
Click the visual below for more information.
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