Current conditions: Typhoon Krathon has made landfall in Tawain with 100 mph wind gusts • Hurricane Kirk became a Category 3 storm but is not yet threatening land • The October heat wave baking California has yet to break.
THE TOP FIVE
1. Hurricane Helene recovery drains FEMA funds
The death toll from Hurricane Helene is nearing 200, which makes it the second-deadliest hurricane to hit the U.S. mainland since 2000. Hurricane Katrina in 2005 killed 1,392 people. President Biden and Vice President Harris toured affected areas yesterday, alongside Homeland Security Secretary Alejandro Mayorkas. “We have towns that have disappeared, literally,” Mayorkas said. “This is a multi-billion-dollar, multi-year recovery.” Search and rescue operations continue in remote Appalachia, with nearly 5,000 federal personnel on the ground. Mayorkas said the government had shipped “over 8.8 million meals, more than 7.4 million liters of water, 150 generators, and more than 225,000 tarps to the region.” He warned that FEMA “does not have the funds” to get through the rest of hurricane season.
Meanwhile, election officials are working to restore some level of secure voting access in hard-hit North Carolina, a battleground state in the upcoming presidential election. More than 190,000 people in the state had requested mail-in ballots before Helene, but the Postal Service has suspended operations, Gristreported. “The destruction is unprecedented and this level of uncertainty this close to Election Day is daunting,” Karen Brinson Bell, one of North Carolina’s top election officials, told reporters.
2. Report: Tri-state area homes at serious risk of flooding
A new report from the Federal Reserve Bank of New York found more than 1 million homes (and their 4 million occupants) in New York, New Jersey, and Connecticut are at serious risk of flooding – ranking among the top 25% of riskiest properties in the country. This includes some inland areas like Buffalo and Newark. In Brooklyn, the number of households at risk exceeds those of anywhere else in the tri-state area. More than 400,000 of the buildings that are at risk of flooding in these states are located in low- or moderate-income communities. “This risk has grown in recent years and is projected to continue increasing,” the report said.
Federal Reserve Bank of New York
3. Damage at Palisades nuclear plant ‘far exceeded’ estimates
The Palisades nuclear plant in Michigan has damage in its steam generators that “far exceeded” estimates, according to the U.S. Nuclear Regulatory Commission. The plant shut down in 2022 but is aiming to re-open late next year. This week the Energy Department finalized over $2.8 billion in loans and grants to help restart the plant and generate emissions-free power. The NRC found that 1,163 steam generator tubes showed signs of stress corrosion cracking, which the plant’s owner, Holtec, said it wasn’t surprised given that the plant was not maintained during its shutdown. Holtec said the damage would be repaired and that they’re still on track to re-open next year. “Steam generators are sensitive components that require meticulous maintenance and are among the most expensive units at a nuclear power station,” according to Reuters.
4. Illinois CCS facility pauses activity due to possible leak
Over in Illinois, the first large-scale industrial carbon capture and storage facility in the U.S. is reportedly leaking. Archer-Daniels-Midland has paused operations at the site in Decatur after signs of a potential brine fluid leak were detected at the end of September. Some locals are worried the facility could threaten drinking water, a concern ADM has dismissed.
5. Study: ‘Climate shocks’ associated with rise in violence against women
A new study published in the journal PLOS Climate finds that some “climate shocks” – like storms, floods, and landslides – are associated with a rise in violence against women that can linger for two years. The researchers examined data about intimate partner violence taken from 363 surveys across 156 countries between 1993 and 2019. They compared this data to climate shocks and found a significant link. The relationship was exacerbated in poorer countries. Interestingly, climate shocks such as earthquakes and wildfires did not appear connected to higher rates of violence against women, but the researchers can’t figure out exactly why. “We need further work to understand why these disasters impact on violence against women, and climate resilience strategies need to consider how to integrate violence prevention in the future,” said study co-author Dr. Andrew Gibbs, a social psychologist at the University of Exeter.
THE KICKER
Tesla announced third-quarter sales figures yesterday, revealing that global sales were up 6.4%. This marks the first quarterly increase this year, perhaps signaling an EV rebound.
Federal Reserve Bank of New York
