The Latest Trending Economic, Environmental and Infrastructure News Curated for You by The Balmoral Group
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Happy Friday!
Thank you for tuning in for another weekly economic perspective! This week features recent news on EU Antitrust regulations put on Apple, Florida Fish and Wildlife Control (FWC) deploying artificial reefs in the keys, interesting ways oil and gas companies can reduce possible emission cuts from facilities, the growth of Artificial Intelligence (AI) infrastructure, a special report on Florida's growing transportation industry, and a visual on the increase in drought severity by new climate models.
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Have a great weekend!
EU Antitrust Regulators to Spell Out How Apple Must Open Up to Rivals
EU antitrust regulators launched proceedings on Thursday to ensure that Apple complies with recent landmark rulings requiring it to open up its closed ecosystem to rivals or pay a hefty fine. The European Commission will spell out what Apple needs to do to comply with the Digital Markets Act. IOS connectivity features and functionalities for smartwatches, headphones, virtual reality, and other devices will be the first target for proceedings as the specify what Apple needs to do to provide effective interoperability. The second proceeding will be what Apple needs to do to when third party developers request interoperability to ensure a transparent and fair process. The Commission hopes to wrap up these proceedings within 6 months. Read More.
Florida FWC to Deploy First Artificial Reefs in Keys in 15 Years
This week, the Florida Fish and Wildlife Conservation Commission announced two new artificial reef projects in the Florida Keys, in addition to a third ongoing project underway since last year. The projects will repurpose 37 cement power poles into artificial reefs about 16 miles off the coast of Key West, representing the first artificial reefs to be installed in the last 15 years in this area. The project coordinators hope that the reefs will create a network of fish habitat sites and help create migration pathways for fish, as well as create new fishing and diving opportunities that could draw people away from impacting the fragile natural reefs of the Keys. Read more here. Image source here.
Possible Method for Oil and Gas Facility Emission Cuts
A new study by Rystad Energy examined the possible reduction in associated emissions from oil and gas production facilities. Oil and gas production facility emissions could be reduced by more than 80% by switching to electricity generated by renewables or natural gas by burning. Evidence is based on Norwegian Continental Shelf oil rigs who emit 86% less CO2 per barrel of oil after switching to full electrification. Scientists have estimated that the world needs to cut greenhouses by roughly 43% by 2030 to meet 2015 Paris Agreement climate change goals.. With oil and gas production facilities contributing large amounts of excess emissions into the atmosphere, ways such as this could be hugely beneficial to meeting emission reduction standards. Read more here.
Microsoft and Partners to Raise $100bn for AI Infrastructure
According to Microsoft CEO, Satya Nadella, enhancing AI supply chains and energy sourcing is critical to ensuring that it helps advance innovation and drives growth across all sectors of the economy. Thus, Microsoft has partnered with Black Rock, Global Infrastructure Partners, and Abu Dhabi’s MGX to form the Global AI Infrastructure Investment Partnership (GAIIP). GAIIP plans to raise up to $100 billion in total investment potential to unlock $30 billion of private equity capital over time from investors, asset owners, and corporates. AI infrastructure such as data centers are fundamental to the digital economy and investing in these will steer economic growth, create jobs, and drive AI technology innovation. Read more here.
Special Report Details Florida's Transportation Industry
Florida's transportation infrastructure faces growing demands due to rapid population growth, with over 22 million residents and an expanding economy. The need for efficient systems—from highways to ports—is critical for sustaining economic momentum, especially as consumer expectations for faster deliveries rise. Florida's strategic location enhances its role as a logistics hub, particularly with the trend of nearshoring, which attracts companies seeking to shorten delivery times and reduce costs. To remain competitive in the evolving global economy, Florida must invest in infrastructure and innovation to address these challenges and support its logistics industry effectively. Read more here.
Data Visualization of the Week
New Studies Show Climate Models Underestimate Drought Events
A team of scientists examined potential biases that could be skewing climate models used in making drought predictions for the future. The scientists corrected current models for the potential biases by calibrating them with observations of the longest annual dry spells between 1998 and 2018. In doing so, the team found that by the end of this century, the average longest periods of drought could be a whole 10 days longer than projected. Regions in North America and Southern Africa in particular are expected to experience more severe and longer droughts. Further research is needed to provide insight into future drought hazards.
Click the visual below for more information.
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