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Happy Friday!
Welcome back to this week's issue of the Economic Perspective! This week, we're covering articles on transportation technologies for Florida's I-4 corridor, proposed environmental protection for the Joshua Trees in California, and AI in managing transportation as well as energy usage and emissions. Our data visualization for this week showcases the shifting electric vehicle market. Also detailed is news from the most recent NEPA court ruling. Check it out below!
In TBG news, we were proud to receive the 2024 WTS Central Florida Chapter Employer of the Year Award! This prestigious recognition showcases our unwavering commitment to advancing women in transportation while cultivating an inclusive and supportive workplace. Congratulations to the other honorees and outstanding scholarship recipients, and a heartfelt thank you goes to WTS Central Florida for this incredible honor and to our remarkable team for making achievements like this possible—together, we are shaping the future of transportation!
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Have a great weekend!
Technology to Improve Safety of the I-4 Corridor
Researchers at Florida Polytechnic University and the Florida Department of Transportation are working together to advance technology that would improve safety along the I-4 corridor. The project, “I-4 Florida’s Regional Advanced Mobility Elements (FRAME) Project”, is funded by FDOT and the U.S. Department of Transportation and includes the researchers processing data from FDOT’s roadside units that can communicate with vehicles software to alert drivers about upcoming traffic, crashes, slowdowns and closures ahead. For arterial roadways, this technology could also aid emergency vehicles to cross intersections more safely. By 2027, the expectations is that at least 20% of vehicles on the road will be equipped with the technology. FOX 13 Tampa Bay
New Plan in Place to Protect California's Beloved Joshua Trees
A draft Western Joshua Tree Conservation Plan was released this week in effort to protect California’s iconic trees. The Plan's strategies aim to mitigate and prevent impacts from wildfires and human development and are specifically designed to protect the species from the impacts of climate change as well. This plan, a requirement of the Western Joshua Tree Conservation Act, outlines criteria for land containing a high density of Joshua trees that should be prioritized for conservation, as well as specific areas that should be permanently protected. Western Joshua trees are emblematic of Mojave Desert vegetation as well as beloved members of California's spectacular biodiversity. Read more here.
North Carolina Town Files Lawsuit Against Duke Energy Over Climate Crisis
The town of Carrboro in North Carolina is suing Duke Energy for allegedly deceiving customers and the public about the harms of climate change. The town claims Duke Energy ran a campaign to delay the transition to renewable energy and continue to increase reliance on fossil fuels despite knowing the risks for over 50 years. Rising energy bills and infrastructure repair costs total in the millions of dollars for the town as a result of climate change and continued fossil fuel reliance. Duke has stated they are reviewing the complaint. Read More.
Takeaways from the Latest NEPA Ruling
Recently, the D.C. Circuit Court of Appeals ruled that the Council on Environmental Quality (CEQ) does not have the authority to issue binding regulations implementing the National Environmental Policy Act (NEPA). While the CEQ has been issuing NEPA regulations for 50 years, the DC Circuit concluded that there is no statutory language or empowerment otherwise for the CEQ to issue binding rules on other agencies. It was also ruled that the agencies’ reliance on their interim operating authority was unreasonable and contrary to their duties under the National Parks Air Tour Management Act and NEPA. If this case is upheld, there could be significant changes to the CEQ NEPA guidelines, and further influence cases where the CEQ’s authority is addressed. Read more here.
How AI Can Aid to Significantly Reduce Energy Demand and Emissions
According to the U.S. Department of Energy, it is believed that data centers consume between 10 and 50 times more energy than a typical commercial building, constituting nearly 2 percent of the total U.S. electricity consumption. AI is expected to increase the demand for energy to double or triple current levels, and it is estimated that 30% of the energy deployed to buildings goes to waste. However, there are ways AI can help reduce energy demand and emissions; one of these ways is to invest in a purpose-built AI-for-HVAC. Read more here.
AI Transforming the Transportation Industry
AI is advancing the transportation industry by enhancing safety, efficiency, and sustainability across various sectors. While fully autonomous vehicles still remain a far-out goal, AI is already making significant impacts by optimizing traffic flow, streamlining logistics, and improving public transit. Real-time data analysis enables smarter traffic enables smarter traffic flow, which in turn reduces congestion, emissions, and stress for drivers, with navigation apps like Google Maps and Waze using AI to provide efficient routes based on current conditions. In logistics, AI can optimize shipping, predict demand, and streamline deliveries to reduce costs. Public Transportation also benefits from AI through demand-based scheduling and predictive maintenance, ensuring better service and minimized downtime. These advancements contribute to a smarter, more reliable, and eco-friendly future for transportation. Read more here.
Data Visualization of the Week
Worldwide EV Sales Slowing as Subsidies Run Out
After years of steep market expansion, electric vehicle sales are slowing down. Since 2022, many European countries have started to roll back the financial incentives provided to consumers purchasing EVs, which has the potential to create a negative demand shock in various domestic markets, especially as infrastructure to support EVs is still perceived by customers as underdeveloped. However, while growth rates are lower than in previous years, the market is still developing, driven by rising fuel prices and environmental policies. In Europe, the region the most affected by the end of EV subsidies, sales were up by 17 percent between 2022 and 2023, and other regions recorded even higher growth rates. Read more here, and see more charts detailing EVs here.
Click the visual below for more information.
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