The full story
The night the Roxxon Gulf oil platform explodes off New Orleans, two children are caught up in it. Tandy Bowen's father Nathan, a Roxxon scientist, crashes their car into the water and dies. Tyrone Johnson's brother Billy is shot by a police officer, James Connors, and falls into the water, and Tyrone dives in after him. Both children are hit by energy released from the rig.
Eight years later, Tandy lives in an abandoned church and steals from rich men, while Tyrone plays basketball at a prep school and can't let go of the cop who killed his brother and got away with it. They bump into each other at a party, and their powers wake up. Tandy can form daggers of light and see a person's hopes. Tyrone can teleport through darkness and see their fears. Detective Brigid O'Reilly, investigating after Tandy stabs a man who attacked her, becomes the pair's ally.
Tandy digs into Roxxon, which blamed her father for the explosion. Greg, her mother's lawyer boyfriend, is assassinated while building a case against the company. Tandy and Tyrone go into the mind of Ivan Hess, a scientist left catatonic by the explosion, and free him, and he tells Tandy her father hid evidence that would clear him. She confronts Roxxon executive Peter Scarborough with it, but after seeing in her mother's memories that Nathan was abusive, she takes his bribe instead. Tyrone finishes the cloak his brother was making for Mardi Gras, which helps him control his power, and uses it to haunt Connors into confessing. Connors is only suspended, and Tyrone ends up framed for the murder of O'Reilly's boyfriend, a fellow officer.
A voodoo priestess, Auntie Chantelle, and her niece Evita believe the two are a "Divine Pairing" destined to save New Orleans. When the energy Roxxon has been drilling for leaks and turns its workers, then the city's police, violent, Tandy and Tyrone reach the core, absorb it, and release it into the sky, curing everyone. Connors shoots O'Reilly and pushes her into the ocean, and is swallowed by the darkness of Tyrone's cloak. Roxxon takes the blame. Tandy moves back in with her mother, and Tyrone, still wanted, moves into the church. O'Reilly comes out of the water changed.