Democrats investigate as Trump OKs almost $2 billion in taxpayer money to end offshore wind projects
The payments would steer companies away from projects that could power millions of homes and create thousands of union jobs, lawmakers said.
- On Monday, the Trump administration announced deals paying nearly $900 million to Bluepoint Wind and Golden State Wind to abandon offshore wind leases, following a $1 billion payout to TotalEnergies in March.
- President Donald Trump ordered a halt to offshore wind leasing and permitting in January 2025, prompting the reimbursement strategy after federal courts thwarted his prior efforts to block development entirely.
- Under these agreements, companies must reinvest payouts into fossil fuel projects; CEO Patrick Pouyann stated TotalEnergies renounced development 'considering that the development of offshore wind projects is not in the country's interest.'
- House Natural Resources Committee Ranking Member Jared Huffman and House Judiciary Committee Ranking Member Jamie Raskin launched a congressional investigation Wednesday, demanding documents and calling the strategy a 'scam' that will 'light a lot of federal taxpayer money on fire if we let them.'
- David Carroll, CEO and chief renewables officer for Engie North America, believes United States offshore wind will not advance for years due to permit cancellations, threatening thousands of union jobs and capacity that would have powered 118 million households.
28 Articles
28 Articles
Wind energy executive says company ‘must adapt’ as Trump offers $2 billion to kill offshore wind projects
As the Trump administration considers shelling out billions to shutter offshore wind projects, energy executives are facing the uncomfortable reality that renewable energy may no longer be a viable business in the U.S. Earlier this week, Trump’s Department of the Interior said it would pay offshore wind ventures Bluepoint Wind and Golden State Wind a total of $885 million—in what essentially amounts to a refund—to walk away from their respectiv…
Trump Pays Energy Firms £1.4B in Taxpayer Cash on Condition They Pivot from Clean Energy to Oil and Gas
The Trump administration has paid three energy companies nearly £1.4B ($1.885B) in public funds to abandon offshore wind projects and redirect capital into oil, gas, and liquefied natural gas infrastructure, a strategy that emerged after federal courts blocked repeated executive attempts to stop wind development by other means. The deals, structured as dollar-for-dollar reimbursements of the lease fees the companies originally paid to develop th…
Gavin Newsom Accuses the Trump Administration of Paying Offshore Wind Developers Nearly $900 Million To Walk Away From Projects
California Gov. Gavin Newsom accused the Trump administration of using taxpayer money to kill clean energy projects after federal officials reached a deal to reimburse two offshore wind developers nearly $900 million if they abandon U.S. leases and redirect money toward fossil fuel infrastructure.
Associated Press News
Democrats investigate as Trump OKs almost $2 billion in taxpayer money to end offshore wind projects
The Trump administration is spending nearly $2 billion to get energy companies to walk away from U.S. offshore wind projects.
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