4. Southern Plains/Southwest Drought, Heatwave, and Wildfires
Cost: $5 billion (as of Aug. 15)
Drought, heat waves, and wildfires spread across Texas, Oklahoma, New Mexico, Arizona, southern Kansas, western Arkansas, and Louisiana. Fighting the wildfire costs are estimated at $1 million per day with over 2,000 homes and structures lost. Direct losses (as of Aug. 15) to agriculture, cattle, and structures are well over $5 billion.