The Economic Perspective 4/11/2025

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!

This week, with tariffs wreaking havoc on markets and budget forecasts, TBG’s economists are fielding calls from all corners on the effects. Our internal analysis finds that proposed tariffs can be expected to affect steel-related and electronic component-related costs within about a quarter. Energy-related costs are expected to take a bit longer, possibly two quarters, as are availability of parts and specialty equipment. Importantly, refined materials are currently exempted from tariffs so that some of these effects are offsetting, although lead times are likely to suffer. General economic uncertainty is already affecting project decisions, with project abandonment reports up substantially, which should free up some constrained resources. Financial market upheaval is a wild card; if substantial dollar sell-off continues, capital costs will rise, potentially rapidly. Finally, structural changes that may arise from the tariffs can be expected to exert influence after several quarters, up to a year, although announcements could occur earlier (additional investments in domestic facilities, for example).

In this edition, we bring attention to a historic court ruling ordering Chevron to pay $744M in Louisiana coastal wetland case, a new bill passed by the Florida Senate banning geoengineering measures like cloud seeding, NOAA’s new satellite providing critical data, coyotes and more.  Our data visualization shows climate sentiment across the US.

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Have a great weekend!

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Coyotes Here to Stay in Seattle

Coyotes have become a permanent presence in Seattle, leading to diverse public opinions on coexistence strategies. Some residents advocate for peaceful measures, emphasizing securing pets and employing hazing techniques. Conversely, incidents like attacks on pets have heightened concerns, prompting calls for more aggressive measures, including culling. However, wildlife experts contend that eliminating coyotes is impractical, and recommend proactive steps like keeping pets indoors, securing food sources, and educating the community on effective hazing methods to foster a safer coexistence with these resilient urban dwellers. Read more at KUOW and UW SEFS.

Executive Order Issued Challenges State Climate Regulations

President Donald Trump has signed an executive order declaring a national energy emergency, directing the Department of Justice to challenge state climate laws that may exceed constitutional or statutory authority. This action targets "climate superfund" laws in states like Vermont and New York, which require fossil fuel companies to pay for planet-warming greenhouse gas emissions. Democratic leaders and environmental groups have condemned the order, accusing Trump of undermining state authority and environmental protections. Oil industry groups have praised the move, arguing it ensures energy reliability. Read more at AP News.

Solar Output Marches Higher Across Europe so Far in 2025

Even in the dead of winter, European solar farms have continued to expand their share of electricity production. Compared to this time last year, production is up 32%, and the highest for the first quarter period on record. This increase is attributed to steady increases in installed capacity. Germany generated 11% of its utility electricity supplies from solar power during the opening of 2025, which is up from 8% in 2024. Germany’s solar farms could generate more than 25% of the country’s utility-supplied electricity during the next two quarters. Germany’s target goal for 2025 is 30% of their power coming from solar. Other countries across Europe have also seen major increases in their solar power production.  Spain in particular has hit 15% of their power coming from solar. Read more here and here.

Florida Senate Moves to Outlaw Geoengineering

Legislation advanced in the Florida Senate this week that would ban geoengineering measures like cloud seeding. The bill titled "Geoengineering and Weather Modification Activities" (SB 56), prohibits “the injection, release, or dispersion of a chemical, a chemical compound, a substance or an apparatus into the atmosphere in Florida to affect the temperature, weather, climate or intensity of sunlight.” A similar bill is moving through the Florida House where it faces one more committee stop before going to a floor vote; and similar bills have been filed in eight other states. Read more about the bill here.

Court Ruling Orders Chevron to Pay $744M in Louisiana Coastal Wetland Case

In a historic court ruling late last week, a jury in Louisiana ordered the oil company Chevron to pay $744 million in damages for wetland degradation. The ruling represents the conclusion of the first of 42 lawsuits filed against the company since 2013 by local parishes in coastal Louisiana. The lawsuits have alleged that several decades of oil and gas activity violated state permitting laws and caused coastal wetland degradation and land loss. Critics of the ruling have stated that it will have serious consequences for the state’s energy sector and economy, while environmental advocates and plaintiffs’ attorneys are hopeful that it will lead to more oil companies coming to the table to participate in coastal restoration in the future. Read more here and here.

NOAA’s New Satellite Now Operational Providing Critical New Data

On Monday, NOAA's GOES-19 satellite became operational as GOES East, replacing GOES-16. Launched on June 25, 2024, GOES-19 is the final satellite in the GOES-R Series. It provides advanced imaging and atmospheric measurements for enhancing forecasts for severe weather events such as hurricanes, tropical storms, wildfires, and more. Each generation of the satellite brings significant advancements in data collection and new capabilities for environmental monitoring providing life-saving information. Read more here.

AI Threats in Software Development

A recent study by a team of researchers from the University of Texas at San Antonio investigated the risks of using AI models to develop software. A doctoral student in computer science at the institution led the study on how large language models (LLMs) frequently generate insecure code. These researchers focused on evaluating the occurrence of package hallucinations across different programming languages. Package hallucinations happen when an LLM model recommends the use of third-party software that doesn’t exist. According to their findings, python code was less susceptible to hallucinations than JavaScript. Read more here.

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Data Visualization of the Week

Estimated Percent of Adults Who Are Somewhat or Very Worried About Global Warming in 2024

Yale University recently released an interactive visual showing climate sentiment across the U.S. using data compiled by IPMOS. The current image shows overall average sentiment as compared to the national average at the (state/congressional district/metropolitan area/county) level, though one can change the granularity or filter by specific survey question by using the dropdowns at the top of the visual. The map, along with climate belief survey results, can be found here. Image Courtesy of Yale.