thinkjet strategies

View Original

Two Steps Forward and Back Again

Pace LaVia

Even when we’re making significant progress, Massachusetts seems to be experiencing setbacks in equal measure.

For instance, the Commonwealth seems to be all set in the energy department. Grid operators are saying they’ll have no problem meeting demand this winter. But shivering throngs of residents might not have a home to heat. That is if the Federal eviction moratorium expires on schedule on December 31. Even if folks can pay their rent or mortgage, they may not have enough money to pay their electric bills as unemployment balloons and relief shrivels. 

On the bright side, sarcastically speaking, trains, trolley’s and buses will be using a lot less energy this winter as ridership has plummeted and the MBTA plans stiff cuts in services. And with lawmakers in Washington squabbling over who gets what in federal assistance, things aren’t guaranteed to be getting better anytime soon. 

On a “lighter” note, one week after marijuana sales blew past the billion-dollar mark here in Mass., Maine has announced that marijuana is now it’s number one cash crop. Also this week, Congress passed the MORE Act which includes an attempt to decriminalize marijuana and remove it from the DEA’s list of Schedule I controlled substances. If these trends continue — and they will — the smart money is going to start piling into cannabis like children in a heap of autumn leaves.

Let’s unpack this week’s news: 

Politics

Mass. Reopening Turns Retrograde

Just last week, Gov. Charlie Baker had no plans to double down on COVID-19 restrictions. However, that was before we repeatedly smashed single-day coronavirus records with hospitalizations rising 44% the week after Thanksgiving. Health officials have reported 3,627 new coronavirus cases and 40 more deaths from COVID-19.

As a result, the Bay State’s reopening process has gone into retrograde. Baker announced Tuesday that he will roll back to Phase 3, Step 1 of the state’s reopening plan starting Sunday, Dec. 13, with reduced capacity for "pretty much everything." 

"The rate Massachusetts residents are getting infected and the rate at which they are needing medical care, if all continues to move at this pace, is simply not sustainable over time, and our health care system will be put at risk," Baker said. "We have to do more."

The exact details of the rollback can be found here. 

Hopefully, help is on the way. By the time you read this, trucks full of Covid-19 vaccines could be rolling into Massachusetts. 

The FDA’s advisory committee has recommended the approval of Pfizer’s vaccine for emergency use in the United States. Now we wait for the FDA to decide whether to accept the recommendation. Once this happens, doses of the vaccine could be in Massachusetts within days. Healthcare workers are expected to be among the first group eligible for the vaccine. 

According to a report at WWLP.com:

“The Baker administration plans to distribute 300,000 COVID-19 vaccines over the next three months to Massachusetts residents and workers who face the highest risks for the virus, starting its immunization rollout by focusing on health care workers, long-term care facilities, first responders and congregate care settings… The three-phase plan is scheduled to roar into action this month with the first 60,000 doses set to arrive by Dec. 15. About 300,000 doses, including both Moderna- and Pfizer-manufactured vaccines, should arrive by the end of the month.”

The general public should be able to get in line for vaccines by Mid-April. 

Details of the Governor’s plan to distribute vaccines can be found here.

More Politics

Business

Unemployment Continues to Rise

Again with the jump in jobless claims as the state rolls back its reopening plan. Nearly 34,000 Massachusetts residents filed for first-time unemployment benefits last week — up by more than 2,800 from the week prior. As the virus continued to spiral out of control, unemployment has jumped nationwide to 853,000 last week. 

Included in these figures are “gig workers” and the self-employed who qualify for aid via the Pandemic Unemployment Assistance program — which expires at the end of the month.

WBUR has more on this story.

More Business

Energy

ISO Predicts No Grid Problem This Winter

Electric grid operators ISO-New England are assuring the public that they expect no problems in meeting New England’s power demand this winter. ISO expects to be able to provide electricity “under both normal and short durations of extreme temperatures” — at least through February.

ISO-New England Vice President of System Operations & Market Administration Peter Brandien said that based on weather forecasts, “fuel inventory assessments, and decreasing peak energy usage trends, the ISO expects the region will have the electricity it needs to meet consumer demand and maintain system reliability this winter.” 

The grid operator said it expects peak demand will be greater than 20,000 megawatts under normal winter weather — a decline of 310 MW or 1.5 percent from last winter’s forecast.

More details can be found at WWLP.com.

More Energy News

Transportation

MBTA Waffling On Service Cuts 

After an outcry from riders, transit advocates, and political leaders including Boston Mayor Walsh, the MBTA is trying to work out a plan to scale back planned system-wide service cuts meant to plus the budget deficit created by pandemic emergency measures.

Mayor Walsh lambasted the agency’s plan going so far as to call on state officials to solve the issue, even if it meant raising taxes. 

Emergency measures sent the ridership and revenue into a sinkhole forcing transit officials to consider cuts of more than $100 million to bus, rail, and ferry service.

Proposed cuts could eliminate 25 of 169 bus routes, consolidate another 14, and shorten five. It would also entail eliminating bus and train service after midnight and reducing the frequency of some train and bus routes. “Ferry service would be torpedoed,” as the Boston Globe cleverly put it. 

MBTA officials said they would provide details of the final draft of the proposed cuts in the coming days. A vote could come as early as next week. 

Below is more news and commentary on the MBTA woes:

Real Estate

Up To 14 Million Evictions Could Follow Expiration of Eviction Moratorium

The Centers for Disease Control and Prevention eviction moratorium is set to expire on December 31. And more than 14 million American households are currently at risk of receiving eviction notices with  4.9 million of them likely to be kicked out into the cold in January, alone. That is according to a report by global investment bank and advisory firm, Stout. 

Meanwhile, public health officials predicted that evictions could worsen the Covid-19 crisis resulting in a vicious cycle. 

Asked whether he would consider resuming the state’s eviction moratorium, Mass. Gov. Charlie Baker said the commonwealth should have enough resources to assist tenants and landlords who are behind on payments. 

Currently, renters in the U.S. are already burdened by an estimated $25 billion in past-due rent debt.  

Read all about it at Boston Business Journal. 

More Real Estate

Cannabis

Marijuana Delivery Rules Expose Rift In Mass. Cannabis Industry

Newly approved home delivery rules have caused a rift in the Massachusetts cannabis industry. The Massachusetts Cannabis Control Commission voted to approve the revised regulations on November 30. Many dispensaries across the state are protesting the revised regulations. 

Most unhappy are the brick-and-mortar dispensaries which would be prevented from making their own deliveries until 2024. 

The CCC created two classes of adult-use marijuana delivery licenses —  marijuana couriers, and marijuana delivery operators. Third-party marijuana couriers will be permitted to pick up and deliver cannabis products to consumers from a retail dispensary. And marijuana delivery operators would be permitted to inventory products without having to operate a retail storefront essentially putting them in direct competition with local marijuana dispensaries.

The Commonwealth Dispensary Association (CDA) plans to challenge the new regulations in court. 

Check out the report at the Berkshire Edge. 

Cannabis Now Most Valuable Crop in Maine

Move over potatoes and blueberries. Cannabis is now Maine’s most valuable crop.  Medical marijuana sales in the state rose from over $100 million in 2019 to more than a quarter of a billion dollars in 2020. Potatoes bring in around $180 million, and blueberries a mere $26 million according to Maine Revenue Services.

According to state sales tax figures, medical marijuana sales added up to more than $220 million from January through October. That’s more than double the previous year, Maines cannabis industry is on pace to hit $266 million in sales for 2020. 

It has been a record-breaking year for the cannabis industry as a whole. 

Learn more at the Portland Press Herald.

More Cannabis News

More of the Latest Massachusetts News