WHAT’S HAPPENING TODAY: The 2026 Atlantic hurricane season begins today, with the National Oceanic and Atmospheric Administration predicting a below-normal season. Residents are advised to prepare for potential storms.
Congress returns from its May break this week, with the House set to vote on a bill aimed at accelerating geothermal energy projects, which is expected to pass with bipartisan support.
California's new single-use plastic law, requiring compliance by today, mandates a 25% reduction in single-use plastic packaging by 2032 and that all packaging be compostable or recyclable. As of May 26, nearly 3,000 producers had registered to meet the requirements, falling short of the estimated 5,700 needed.
The House of Representatives is expected to vote on a geothermal energy omnibus bill, which combines several proposals from both parties. The bill would appoint a geothermal ombudsman and require the Interior Secretary to process geothermal project applications within 60 days.
Oil prices have increased by approximately 6% due to ongoing tensions between the U.S. and Iran, although prices later stabilized after President Trump announced a de-escalation of the situation.
In California, businesses must comply with stringent regulations on single-use plastics, which have faced criticism for their complexity and potential impact on medium-sized businesses.
In corporate news, BP is experiencing leadership changes, with William Lin, head of global gas and low-carbon energy, set to leave the company after 30 years.
EU climate commissioner Wopke Hoekstra stated that recent international climate summits have not met the necessary action levels to address climate change effectively.
In Russia, the government has banned aviation fuel exports until November 30 to stabilize domestic markets amid ongoing conflicts. Additionally, finance advisers have warned President Putin of an unsustainable budget shortfall due to war spending, with oil prices needing to remain high to support the economy.