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The Economic Perspective 12/13/2024

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 this week's issue of the Economic Perspective!  This week, we're covering articles on AI-powered herding machines, Heavy Duty ZEV grants in California, USPS's EV fleet, and Washington's carbon credit market. Our data visualization for this week showcases changes in U.S. thermal coal exports. Also, in lighter news, we bring you details on Washington's newest apple variety. Check it out below! 


This week, The Balmoral Group had our annual Christmas Party! See image below for a glimpse of how it went. Also this week, TBG's Laila Racevskis attended the ACES 2024 conference, A Community on Ecosystem Services, in Austin, Texas. This year's conference theme was "Investing in community resilience and equity." Laila presented on TBG work on Cost-Benefit Analysis of Natural Resource Adaptatiom Strategies in the Florida Keys, and the Apalachicola Watershed Coordination Blueprint project. The conference was packed with insights and diverse expertise and perspectives on innovative approaches to incorporating ecosystem services into decision making as well as valuable insights into the importance of equitable distribution of the benefits provided by ecosystem services. 


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!


Have a great weekend!



 


Meet Swagbot, the AI-Powered Robot Cattle Herder Preventing Soil Degradation

First launched in 2016, Swagbot is a herding machine using AI and machine learning systems to help herd cattle to the best pastures and move them before land is overgrazed or soil becomes degraded. Researchers at the University of Sydney have supported it, saying it while help cattle farming become more efficient and environmentally friendly. The robot will provide data for farmers to better assess the amount of cattle their land can support as well as sustaining their farms in the long-run. The most nutritious pastures will be identified and the robot will herd the cattle itself when these pastures are identified. The robot will also help farmers with labor where hiring can be difficult in remote locations. Read More.



USPS EV Fleet Far Behind Schedule

In 2022, the US Postal Service announced plans to phase out its ailing and outdated gas trucks and exclusively purchase electric vehicles as its new delivery vehicle fleet. Defense contractor Oshkosh was selected to provide 60,000 postal trucks. However, as of November, only 93 have been delivered, far behind the 3,000 that were originally expected by now. Oshkosh engineers struggled to finalize designs and manufacturing processes, delaying production and causing originally delivered vehicles to have to undergo continuous corrections. While Oshkosh slowly finalizes on a deliverable truck, Postal Service officials have begun to explore and acquire other EV fleet options from General Motors and Ford, many of which are already on the road and making deliveries. Read more here.


The Environmental Cost of TikTok's Popularity

A recent analysis by Greenly, a Paris-based carbon accounting consultancy, reveals that TikTok's annual carbon footprint surpasses that of Greece. In 2023, TikTok's emissions in the U.S., U.K., and France amounted to approximately 7.6 million metric tons of carbon dioxide equivalent (CO2e), exceeding the combined emissions of Twitter (now X) and Snapchat in these regions. With a global user base of 1 billion, TikTok's total carbon footprint is estimated at around 50 million metric tons of CO2e. This significant environmental impact is attributed to the platform's addictive nature, leading users to spend an average of 45.5 minutes daily—substantially higher than Instagram's 30.6 minutes. The increased user engagement results in higher data usage and energy consumption, thereby elevating TikTok's carbon emissions. Read more here.


California Accelerates Clean Air Goals with EPA Grants for Heavy-Duty Vehicles

The U.S. Environmental Protection Agency (EPA) has allocated $135 million in grants to California to support the state's transition from diesel-powered heavy-duty vehicles to zero-emission alternatives. This funding will facilitate 13 projects, enabling the acquisition of 455 zero-emission vehicles, including trucks and school buses, by state transportation departments, cities, and school districts. The initiative is part of a broader $735 million EPA program, financed by the 2022 Inflation Reduction Act, aimed at reducing air pollution and combating climate change nationwide. In California, heavy-duty vehicles, though comprising only 3% of on-road vehicles, are responsible for over half of nitrogen oxide and fine particulate diesel emissions. The grants, expected to be distributed by early 2025, will aid in decreasing these pollutants, thereby improving air quality and public health, particularly in communities situated near major trucking routes and warehouses. Read more here


Washington State Carbon Credit Prices Rise After Failed Repeal

Washington carbon credit prices rose by around 35% from $29.88 in September to $40.26 in December. The latest carbon auction was held on December 4th and garnered over 270 million dollars for the state by selling allowances, each representing one metric ton of carbon emissions, for use in this year and for 2027. Critics claim this market and increase in the cost of emissions will raise prices at the gas pump, but Washington Policy Center, a think tank that often criticizes Washington’s climate policies, says that suppliers have already taken the increased credit prices into account, making an increase unlikely. However, the group did express belief that this carbon credit price increase would also increase the price of natural gas and propane, among other energy sources. Read more here and here


Washington’s Newest Apple Variety Makes Name for Itself

This week, Washington’s newest apple variety has gotten its moniker: Sunflare. The apple, previously known as WA 64, was named in a contest run by the apple’s breeder, Washington State University (WSU). The winner was Ryan Escarcega of Centralia, Washington, who has said he was inspired by the apple’s pinkish hues (caused by one of the apple’s parent varietals, Pink Lady) and by the solar flares that have caused the Northern Lights to be visible in Washington in the recent past. The winner was announced at the Northwest Horticultural Expo in Yakima, and Mr. Escarcega has received a bounty from WSU; including a charcuterie board engraved with the variety’s new name, Cougar Gold cheese, and a box of Sunflare apples which won’t be available in grocery stores until 2029. Read more here and here



 

Data Visualization of the Week


Thermal Coal Exports Set to Keep Climbing

Based on a new Reuters report, U.S. coal traders have exported the highest volume of thermal coal in six years just in the first 11 months of 2024. In the U.S., exports of coal used in power generation hit the value of 32.6 million short tons from Jan. to Nov. according to data from Kpler. This marks the largest volume in this period of months since 2018, generating an estimated $4 billion in revenues according to the U.S. Energy Information Administration (EIA). The U.S. ranks 6th on the global list of country exporters based on volume, with experts suggesting an even higher export amount could be foreseen in 2025. Read more global growth in markets for coal, and potential pollution impacts here. Image courtesy of Reuters.


Click the visual below for more information.



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