Driving the Day: 5/24/12

May 24, 2012

Need to know…

  • IP-Intensive Companies Prove Critical to U.S. Economy. National Journal reports that in a new study, the U.S. Chamber’s Global Intellectual Property Center breaks down how much IP benefits each state in terms of the jobs, exports, and other economic benefits. The report found that IP-intensive companies created more than 55.7 million jobs, both directly and indirectly, from 2008 to 2009 and that these companies also generated $5 trillion in GDP and accounted for more than $1 trillion in exports. 
  • Shale Gas Boom Helps Drop U.S. Emissions. According to the International Energy Agency, U.S. energy-related emissions of carbon dioxide, the main greenhouse gas, fell by 450 million tons over the past five years – the largest drop among all countries surveyed. The group’s chief economist attributed the fall to improvements in fuel efficiency in the transport sector and a “major shift” from coal to gas in the power sector.
  • EU Urges Greece to Stay in Euro Zone. European leaders expressed determination to keep Greece in the euro zone yesterday after a summit meeting. EU leaders said that they would seek a new “growth pact” designed to stimulate their sagging economies. The decision appeared designed to counter reports that preparations are already underway for the country’s exit. Finance ministers reportedly agreed earlier this week on the need to develop national contingency plans in case Greece drops out of the common currency. Leaders have scheduled another summit for June 28 and 29, by which time leaders hope the outlines of a growth pact should be clearer.

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