Axios

India, a country the Trump administration has called “a key security and economic partner,” will soon test U.S. resolve on Iran. Two Indian firms are reportedly seeking to purchase Iranian oil in November. Should the imports go through, they would contravene the stated U.S. aim of bringing Iran’s petroleum exports “as close to zero as possible” by Nov. 4.

Between the lines: Despite its goal of increasing pressure on Iran, the U.S. is considering “significant reduction exemptions” for countries trying to get to zero. To gain this exemption, New Delhi will likely cite current press reporting about its reduced intake of Iranian crude. However, recent data paints a different picture of India’s Iranian oil imports, which have stayed essentially the same for the past two months.

Hurricane Michael made landfall near Mexico Beach, Florida, at 1:40 pm ET, as a powerful Category 4 storm. Professional storm chasers and journalists are capturing the massive storm and the damage it is causing to the Florida Panhandle, packing 155 mph sustained winds as of 1:30 pm ET.

James Murdoch, the outgoing CEO of 21st Century Fox, has emerged as the top candidate to replace Elon Musk as the chairman of Tesla, the Financial Times reports. In a tweet, Musk called the report "incorrect."

Why it matters: Per Musk's settlement with the SEC for the fateful "go-private" tweet, Tesla has until the middle of November to replace Musk as chairman of the company. Murdoch joined Tesla's board last year. Musk seems determined to continue to violate the spirit if not the letter of the SEC agreement — first with his “shortseller enrichment commission” tweet, and now with the appointment of his friend James Murdoch as an “independent” chairman.

Editor's note: This story has been updated to include Musk's latest tweet.

Hurricane Michael has made landfall near Mexico Beach, Florida, at 1:40 p.m., as a powerful Category 4 storm. Its minimum central air pressure of 919 millibars and maximum sustained winds of 155 miles per hour put it on the cusp of Category 5 status.

The big picture: The storm ranks as one of the strongest hurricanes ever to hit the U.S., with a minimum air pressure comparable to Hurricanes Camille, Andrew and Katrina. It is the most powerful hurricane ever to hit the Florida Panhandle, and catastrophic damage is expected near the landfall zone. Wind damage and power outages will extend inland to Tallahassee and southern Georgia.

Florida Democrats have filed an injunction calling for a registration extension of at least a week as Hurricane Michael hits Florida as one of the strongest U.S. hurricanes ever.

The big picture: Florida Governor Rick Scott, who is running against Democrat Sen. Bill Nelson for a Senate seat, has extended the voter registration deadline for areas impacted by Hurricane Michael to one day after offices are able to re-open. Democrats want the deadline, which was originally October 9, extended to October 16, per USA Today.

Dan and and Axios Science Editor Andrew Friedman discuss the "nightmare scenario" unfolding in Florida, and the UN's new report on how climate change could become catastrophic.

"We had plenty hurricanes before the industrial age. But scientific consensus is that extreme weather is on the rise, and that our actions are contributing to it. Obviously not everyone agrees, but those who dissent, including President Trump, are very much in the minority."

Go deeper: Hurricane Michael makes landfall

The Weather Channel's Mike Bettes tried to evacuate his crew from near the landfall location of an intensifying Hurricane Michael, but the meteorologist — who was injured in 2013 while chasing tornadoes for the network — was forced to turn back.

Why it matters: TV networks may have placed reporters in harms' way, near the water and where the core of the storm's strongest winds could cause "catastrophic" damage. The Weather Channel has some of the most experienced weather experts in the business, so for them to try to evacuate as the storm approached is a sign of the storm's fury.

ExxonMobil's pledge Tuesday to put $1 million into carbon tax lobbying is the latest of several industry moves lately — including Exxon and Chevron joining the wider Oil and Gas Climate Initiative and more low-carbon energy investments by some big players.

Reality check: With the big UN report highlighting the unprecedented global energy transition needed to limit the extent of global warming — something far more seismic than the changes occurring today — now is a good time to explore what further steps the industry could take in the near(ish) term.

Emissions from manufacturing plants making essential materials like cement and steel are an overlooked problem in addressing climate change, says a new report released Wednesday by centrist think tank Third Way and two other groups.

Why it matters: Carbon dioxide emissions from the U.S. industrial sector are set to rise nearly 25% by 2050, and they are the hardest to turn green because renewable energy can’t fill the void and the chemical processes themselves are quite carbon-intensive.