Thursday, April 17, 2014
Maine is increasingly competing in a global economy, which means that our local businesses often thrive or die based on events and decisions that happen far beyond our borders. "From Away" is a new weekly roundup of national and international business news that has implications for Maine's local economy. My plan is to publish these roundups once a week on Thursdays — if you have suggestions, email firstname.lastname@example.org or tweet @vigorousnorth.
Quebec has joined California's cap-and-trade greenhouse gas emissions market, via The Globe and Mail. In essence, this means that polluters in Quebec will have to buy credits for the global-warming pollution that they generate, in the same market from which Californian polluters started buying credits last year.
This is going to affect local businesses like the South Portland-based Portland Pipeline Corp., which delivers oil to refineries near Montreal. "The province’s gasoline marketers – including refiners such as Suncor Energy Inc. and Valero Energy Corp. – face the biggest challenge a year from now when fuel distributors will need to hold allowances to cover emissions that result from the burning of every litre of gasoline and diesel they sell," writes reporter Shawn McCarthy.
As Colorado legalizes marijuana retail sales and Portlanders figure out the ramifications of their new marijuana legalization ordinance, Next City covers the fiscal implications of bringing the marijuana trade out of the black market in Drugs and the City by Zak Stone. This statistic might be of interest to cash-strapped bureaucrats: the City of Oakland, California brought in $1.4 million in new tax revenue in 2011 from just four regulated pot dispensaries. Supporters also claim "savings in law enforcement time and budget."Tweet
Commercial Confidential tracks Maine's business leaders and economic indicators.
I'm an economics wonk and an online content producer for the Portland Press Herald.
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