Meteorologists are warning of an extreme winter storm. As temperatures are expected to fall, U.S. residents will need more natural gas to heat their homes. Very low temperatures can also disrupt gas pipelines. A huge decrease in storage is expected. Natural gas prices are at their highest since 2022.—cnn.com
Category: MIT5
Market Failure and Its Solutions
Keywords: Externalities, Public Goods, Common Resources
Parkin 14e Chapters 16, 17
Bade-Parkin 9e Chapters 10, 11, 12
Parkin-Bade Canada 11e Chapters 16, 17
Parkin-Bade Australia 2e Chapters 10, 11, 12
Parkin-Powell-Matthews 11e Chapters 15, 16
Senegal’s Fishermen Blame BP Project for Lack of Fish
BP’s gas project on the Mauritania–Senegal maritime border, a prime fishing area, created a 500-meter exclusion zone over a natural reef, rich in fish. Fisherman income has dropped significantly. BP pledged eight artificial reefs to restore their livelihood.—bbc.com
Zaanse Schans —The Historic Dutch Village
The historic Dutch village of Zaanse Schans, famous for its windmills, attracts millions of tourists—2.6 million last year alone—despite having only 100 residents. Tourists trample gardens, invade privacy, and cause overcrowding that diminishes everyone’s enjoyment. The local council will charge each tourist €17.50 ($20.50) beginning next spring.—bbc.com
Obstructing Traffic During Traffic Accidents
In the UAE, slowing down to watch a crash can result in a fine of up to 1,000 dirhams, the equivalent of $270 U.S. dollars. The curiosity to watch a car accident delays ambulances, endangers lives, and prevents other drivers from reaching their destinations on time.—khaleejtimes.com
Plastic Shopping Bag Policies Are Actually Working
The extra fee at the grocery store for a plastic shopping bag is reducing the amount of bags being used. Plastic pollution from shoppers not only diminishes the enjoyment of nature but also harms marine animals that ingest plastic bags, often resulting in starvation and death.—cnn.com
The Dream of Wiping Out Polio Might Need a Rethink
A fundamental goal of the Global Polio Eradication Initiative is to wipe the polio virus off the face of the earth. In the first quarter of 2023, there have been 15 cases, total, in the entire world. But mass immunization campaigns in places like northern Yemen and Somalia are nearly impossible.—npr.org
150-Year-Old Baltimore Tunnel Will Get $4 Billion Federal Boost
President Biden announced that $4 billion in federal funding will help replace the 150-year-old Baltimore and Potomac Tunnel. The tunnel is a major bottleneck for Amtrak, Maryland commuter trains, and freight rail traffic. Once completed, capacity in the tunnel will nearly triple.—washingtonpost.com
USPS Increases Stamp Prices
The United States Postal Service (USPS) is raising the price of a first-class stamp. USPS pointed to increased operating expenses as a reason for its rate hike and falling mail volume.—newsnationnow.com
Canada is Banning Single-Use Plastics, Including Grocery Bags and Straws
Canada is banning the manufacture and import of single-use plastics by the end of the year. The ban includes items like checkout bags, cutlery, and straws. Single-use plastics make up most of the plastic waste found on Canadian shorelines.—cnbc.com
The $560 Billion Investment in America’s Transportation Infrastructure
A bipartisan infrastructure bill guarantees $65 billion to expand broadband Internet service, and $65 billion to upgrade the nation's power grid. The Department of Transportation will receive more than $560 billion to improve tunnels, bridges, roads, mass transit, ports, and airports. —cbsnews.com