State Senate OKs marijuana freeze
The Oregon Senate moved forward with a plan to limit the state’s supply of recreational marijuana. Lawmakers voted 18-10 Monday to freeze marijuana productions at current levels for the next two years. The state will not issue new production licenses to marijuana growers, but current growers will be able to renew their licenses.
Sen. Michael Dembrow, D-Portland, said the state produces so much marijuana that Oregon has enough of the drug to last it for the next 6.5 years. That surplus has caused prices to plummet.
The measure now goes to the House for consideration.
Fracking in Britain struggles to grow
Britain’s fracking industry is struggling to survive, and it suffered another setback when Natascha Engel, the government’s commissioner for facilitating fracking, resigned over the weekend, complaining about rules so restrictive they have made it all but impossible for the industry to grow.
Geological surveys and drilling have suggested that there are large amounts of gas lurking under some parts of the country. But Britain’s fledgling shale industry has faced unrelenting local opposition and regulations that require work be halted when fracking causes tremors. Test drilling and fracking have all but stopped in Britain.
Alphabet falls $1 billion short
Alphabet, Google’s parent company, on Monday said revenue in its most recent quarter increased 17% from the same period last year, to $36.3 billion. That was about $1 billion short of Wall Street’s expectations. The Silicon Valley company’s revenue had grown more than 20% every quarter since 2016. Alphabet said the strong United States dollar dented revenue by $1.2 billion. Google executives rattled off a long list of currencies weakening against the dollar, including the euro, the British pound, Brazilian real and Indian rupee. The company said it expected foreign currency to be an issue again in the current quarter. Shares of Alphabet fell about 7% in after-hours trading.
Air software glitch causes backups
A number of airlines experienced delays Monday when their systems had a technical glitch, causing backups across the country. Travelers vented their frustration on Twitter, blaming airlines like Alaska, American and JetBlue.
But the real culprit was Sabre, a relatively unknown software system used by airlines for a variety of simple purposes, like tracking bookings and calculating baggage weight. When the system has even a small snag, the effects can ripple across the global flight network long after the initial problem gets solved. The same system experienced a failure in March.