New Jersey Dems Approved Big Subsidies To Land a Foreign-Built Offshore Wind Farm. It Fell Apart Anyway.

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New Jersey Dems Approved Big Subsidies To Land a Foreign-Built Offshore Wind Farm. It Fell Apart Anyway.

New Jersey Democrats, led by Governor Phil Murphy, approved up to $1 billion in subsidies to entice a foreign company to build wind farms off the coast of Atlantic City. Now, the projects are dead. Danish green energy giant Ørsted on Tuesday night said it was pulling out of New Jersey, citing "high inflation, rising interest rates, and supply chain bottlenecks." The move comes as a significant blow to Murphy and Democrats in the State Legislatur…