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News roundup for Fri, May 20, 2022
In short:
- This hurricane season could be as severe as 2005, with Hurricane Katrina as a grim reminder.
- Gas inventories are low, and prices may surge to $6 per gallon by the end of summer.
- President Biden has activated the Defense Production Act to address the baby formula shortage.
- The FDA approved Pfizer’s booster shot for children aged 5–11, and the CDC is offering more free tests.
- Switzerland is moving closer to NATO membership, while Finland and Sweden have officially applied.
**Climate**
Conditions in the Gulf of Mexico are eerily similar to those seen in 2005, which led to the devastation of Hurricane Katrina. Sea temperatures are already above average this early in the season, and an unusual current of warm tropical water is extending far into the Gulf. If the Loop Current reaches as far north as Tampa this early, it could significantly increase the risk of powerful hurricanes hitting the northern Gulf Coast—from Texas to Florida. For a deeper understanding of why this matters, how hurricanes form, and the role of La Niña and climate change, check out the linked article.
[Image: The Loop Current reached Tampa in mid-May 2022, showing how far warm waters extend into the Gulf.]
[Image: A comparison between the Loop Current in May 2005 and 2022 highlights the alarming similarities.]
Here's our guide on how to prepare for and survive hurricanes. If you're looking for step-by-step tips, you can also follow our advice from Hurricane Preparedness Week.
**Gov. Gavin Newsom** recently announced his **Extreme Heat Action Plan**, allocating $37.6 billion to combat climate change and ensure California is ready for rising temperatures.
**Economy**
The Federal Reserve’s strategy to curb inflation appears to be working. Retailers like Walmart and Target reported slower sales, as consumers shift spending from goods to experiences and travel. However, Target’s disappointing earnings triggered a major sell-off on Wall Street, marking the largest single-day drop for the Dow since 2020.
With **revenge travel** expected this summer, **JP Morgan predicts gasoline prices could hit $6 per gallon**. While some experts disagree, East Coast gas inventories are at their lowest since 2011, and by late August, they could fall below 160 million barrels—the lowest level since the 1950s. Another potential wild card? Major hurricanes disrupting Gulf Coast refineries and oil platforms. The government will release its hurricane outlook next week, so we’ll keep you updated.
**Rents in the U.S. have hit record highs**, and are expected to continue rising. A new study shows that remote work has driven up house prices, though signs suggest the housing market may be slowing down.
Meanwhile, the **UK is facing record-high inflation (9%) and the risk of a recession**. As the highest among G7 nations, Britain is struggling with soaring energy bills. One in four Britons skipped meals, and two-thirds reduced heating use. The central bank is likely to raise interest rates to 1%, the biggest increase since 2009.
[Image: UK inflation data via Reuters]
**Supply Chain**
President Biden invoked the **Defense Production Act** to boost baby formula production and authorized military planes to bring Nestlé formula from Switzerland. The **Access to Baby Formula Act** allows WIC recipients to buy formula from any brand during shortages. However, the effectiveness of these measures remains uncertain.
**Baby formula scams** are on the rise. The U.S. government is warning consumers about fake sellers who charge high prices but never deliver. Here are some tips from the FTC and us to avoid scams:
- Use search engines to check companies or products. Look for reviews, complaints, or “scam†alerts.
- Avoid paying with gift cards, money transfers, or cryptocurrency—credit cards offer better protection.
- Sellers must ship orders within the time stated or within 30 days if no date is given.
- Contact local resources like your pediatrician or WIC office for help.
Biden has also urged farmers to **double crop** this year to boost global food supply and stabilize prices. However, double cropping risks soil depletion, especially with a fertilizer shortage. To address this, Biden announced $500 million in funding for fertilizer production.
**Covid**
The **FDA approved the Pfizer booster for children aged 5–11**, recommending it five to nine months after the last dose. During the omicron wave, unvaccinated kids were twice as likely to be hospitalized. Hospitalizations among children rose by 8.4% in early May.
US households can now order a **third round of free at-home tests** from the CDC.
The **FDA has further restricted the J&J vaccine**, limiting its use to those who cannot receive other vaccines due to rare clotting side effects.
The U.S. has reached 1 million confirmed Covid deaths, and cases are still rising. Understanding whether we’re still in a public health emergency is critical for funding and response efforts.
Opinion: A new wave? Stay prepared, not panicked.
**Ukraine**
Even **Switzerland is leaning toward NATO membership**, a sign of how badly Putin has miscalculated. Finland and Sweden have submitted applications, though Turkey’s Erdogan opposes them. The process, usually taking eight to ten months, might be expedited to protect both countries from Russian threats.
The U.S. embassy reopened in Kyiv, and the Senate appointed the first U.S. ambassador to Ukraine in three years.
For the latest conflict updates, check the live map.
**The Rest**
Here’s a disaster glossary to help you understand emergency management terms.
A new report shows that **firearm production in the U.S. has tripled since 2000**, with personal protection handguns outselling rifles. In 2021, police recovered over 19,000 ghost guns—a tenfold increase since 2016. With over 400 million guns in circulation, the issue remains urgent.
China plans to build a **590-foot AI-designed 3D-printed dam in Tibet**, generating 5 billion kWh annually. It’s a fascinating example of technology in large-scale infrastructure.
In New Zealand, a MÄori community uses a board game called **Marae-opoly** to manage flood risks.
For those interested in climate history, a new documentary on Paramount+ called **"Black Gold"** explores industry efforts to hide evidence of global warming. We’ll review it once it’s released.
Did you know that **Mangalitza pigs can fend off bears**? While these pigs aren’t necessarily Mangalitza, they sure show some fierce spirit.