US EditionTrump to pay more companies to abandon offshore wind and invest in fossil fuels
The companies will redirect nearly $900 million into U.S. oil and gas projects and give up plans for new offshore wind developments.
- On Monday, the Interior Department announced the cancellation of offshore wind leases for Bluepoint Wind and Golden State Wind, providing nearly $900 million in reimbursements to both companies.
- Interior Secretary Doug Burgum claimed companies were previously sold unviable products reliant on taxpayer subsidies when bidding for leases in 2022 under former President Joe Biden. Now the administration is following a model established by its March deal with TotalEnergies, which received a $1 billion payout to exit offshore projects.
- Bluepoint Wind will recover $765 million contingent on investing in a U.S. LNG facility, while Golden State Wind recovers approximately $120 million by investing in Gulf Coast oil and gas assets. Michael Brown, CEO of Ocean Winds North America, said the deal provided "clarity."
- These cancellations eliminate projects capable of powering more than 1 million homes each, undermining clean energy goals in New Jersey, New York, and California. Democrats and environmental groups have questioned the legality and economic impact of the payouts.
- Federal courts previously vacated Trump's executive order blocking wind projects in December, siding with 17 states that challenged the administration's national security claims. The administration continues to prioritize fossil fuels, citing reliability and cost benefits for American families.
79 Articles
79 Articles
U.S. President Trump is a declared opponent of renewable energies. The U.S. government is trying to stop several projects. Now it hits two wind farms off the coast. The companies are to be compensated. However, they announce measures to appease the government.
Trump Has Once Again Paid Off Offshore Wind Developers to Quit
Current conditions: After a springy warm up, temperatures in Northeast cities such as Boston and Atlantic City are plunging back into the low 50 degrees Fahrenheit range for the rest of the week • In India, meanwhile, a northern heatwave is sending temperatures in Gujarat as high as 110 degrees today • The Pacific waters off California and Mexico are hitting record temperatures amid an historic marine heatwave. THE TOP FIVE1. Trump has convinced…
Trump administration will pay more energy firms to cancel wind farms
The Trump administration will pay energy companies hundreds of millions of dollars to abandon their plans to build two wind farms off the U.S. coast, the Interior Department said Monday, in a repeat of a tactic the government used to cancel other offshore wind leases last month. The post Trump administration will pay more energy firms to cancel wind farms appeared first on West Hawaii Today.
In his campaign against ecological energy, US President Donald Trump has removed two other energy companies from wind power projects. They cancel off offshore wind leases for money from the state.
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