Axios

Texas' power grid is expected to break demand records for the month of May as Texans turn to air conditioning during a scorching heat wave over Memorial Day weekend.

Why it matters: Human-caused climate change is expected to heavily strain U.S. electrical grids, including Texas', which has been vulnerable to winter and summer weather extremes in the past.

Norfolk Southern has agreed to pay $310 million for damages from the 2023 derailment of a freight train carrying toxic chemicals in East Palestine, Ohio, the Environmental Protection Agency (EPA) announced on Thursday.

Why it matters: Several different toxic chemicals were released during the derailment and its aftermath, igniting concerns over potential long-term health ramifications for residents and environmental impacts.

The 2024 Atlantic hurricane season features an unprecedented combination of air and ocean conditions, and is likely to be extremely active, according to the U.S. government's official seasonal outlook released this morning.

Why it matters: Hurricanes are nature's largest and most expensive storms, and the odds of a U.S. landfall during an above average season may be generally higher this year.

Senior Capitol Hill Democrats are opening one new investigation of oil companies while urging the Justice Department to launch another.

Why it matters: The separate moves yesterday were heavy on public messaging, but might also bring more aggressive probes of the industry, during an era of industry consolidation and elevated oil prices.

Tuvalu is teaming up with a new player in weather forecasting to better prepare for extreme weather events and climate change.

Why it matters: The tiny South Pacific island nation is highly vulnerable to coastal flooding and sea level rise. More accurate forecasts could save lives and infrastructure in Tuvalu and similar countries, which are being swallowed by rising seas.

A tornado that struck Greenfield, Iowa, killed four people and wounded at least 35 others, officials said Wednesday.

The big picture: It was one of several tornadoes to hit Iowa on Tuesday in a damaging outbreak of severe thunderstorms, with several tornadoes, powerful straight-line winds and other deadly hazards striking the Midwest into Wednesday.

The first of what will likely be many extreme heat events this summer is on tap for much of Texas, Louisiana and the Southern Plains, along with Florida during the next week.

Why it matters: Extreme heat is the deadliest weather hazard in the U.S., and this event will bring triple-digit temperatures to some areas as soon as a full month earlier than average.

The White House is hoping to squeeze political mileage out of a mandated gasoline sale from a federal stockpile.

Why it matters: Pump prices will rise on the political radar as Memorial Day launches summer driving season — and the election looms.

This week's Group of Seven finance ministers meeting may reveal hints about new U.S. and European efforts to counter Chinese strength in climate tech markets.

Why it matters: Officials on both sides of the Atlantic hope to pair carbon cutting with stronger domestic and allied supply chains for solar equipment, electric vehicles, batteries, and more.