Are the energy states still energy states?

Traditional energy states managed to avoid the early stages of the recent national recession, buoyed by record high crude oil and natural gas prices. Both production and exploration for crude oil and natural gas expanded rapidly in response to the spike in energy prices, propelling strong job and income gains in the energy states. But the strong performance of the energy states through the early stages of the recession subsequently reversed itself under the weight of collapsing energy prices. These states began to underperform non-energy states by the second quarter of 2009. These gyrations in economic activity are reminiscent of the volatility experienced during the 1970s and early 1980s, suggesting that the energy cycle is alive and well in the energy states. ; Snead examines the economic performance of the energy states in the recent energy price spike and recessionary cycle. He finds that the economies of the energy states remain highly sensitive to changes in energy prices and follow a much different economic cycle than non-energy states. The energy states posted far stronger job growth prior to the recession, entered the recession much later and with more momentum, and have posted smaller cumulative job losses than non-energy states. Most of the energy states were nearly as reliant on the energy sector as a source of state earnings in 2008 as they were at the peak of the prior cycle in 1982. He also finds that the historical ranks of the energy states are poised for a shuffling. Unconventional natural gas production will move some states closer to the top as other states enter the ranks of the major oil and gas producers for the first time.

Are U.S. states equally prepared for a carbon-constrained world?

Climate concerns linked to greenhouse gas emissions, particularly carbon dioxide (CO2), have taken center stage in the national energy policy debate. Domestic energy use and carbon emissions continue to rise, and forecasts suggest further increases under the existing regulatory structure. However, heightened international and domestic pressure to reduce U.S. carbon emissions suggests that additional changes to the regulatory framework are probable in coming years. ; Reducing U.S. carbon emissions will likely require a comprehensive national framework that will alter the pattern of energy use and production in all 50 states. At issue for state-level policymakers is that carbon restrictions are unlikely to affect the states equally. Energy use and emission patterns vary widely across states, and there is no accepted framework for allocating shares of a national carbon reduction goal. As a result, states that emit the most carbon or have the most energy- and carbon-intensive economies may shoulder the greatest burden. ; Snead and Jones evaluate the current energy posture of the states and thus how prepared they are to cope with ongoing trends in energy use, especially restrictions on carbon emissions. Their findings suggest that the New England, Mid-Atlantic and West Coast states are generally best prepared. These states have the least energy-intensive economies and use fuel mixes with low average carbon intensity; hence, they already release proportionately less CO2. The states expected to be hardest hit by carbon constraints are the traditional energy-producing and agricultural states. These states have energy-intensive economies, by both domestic and international standards, and will face a considerable challenge in altering their energy use and emissions patterns.

Causality Tests of the Stock Price-inflation Relation

Economic

Position Statement on the Use of Medical Cannabis for the Treatment of Epilepsy in Canada.

In Canada, recreational use of cannabis was legalized in October 2018. This policy change along with recent publications evaluating the efficacy of cannabis for the medical treatment of epilepsy and media awareness about its use have increased the public interest about this agent. The Canadian League Against Epilepsy Medical Therapeutics Committee, along with a multidisciplinary group of experts and Canadian Epilepsy Alliance representatives, has developed a position statement about the use of medical cannabis for epilepsy. This article addresses the current Canadian legal framework, recent publications about its efficacy and safety profile, and our understanding of the clinical issues that should be considered when contemplating cannabis use for medical purposes