Trump Administration Will Buy Back Company's Offshore Wind Leases Off 3 States in a $1.2B Deal
RWE will redirect $1.22 billion toward fossil fuel projects after giving up offshore wind leases under the Trump administration’s buyback program.
- On Thursday, RWE agreed to surrender offshore wind leases off New York, California, and Louisiana in a $1.22 billion deal with the Trump administration, citing no viable path to permit the projects.
- President Donald Trump has targeted wind energy through lease buybacks to discourage expansion in favor of fossil fuels after federal courts thwarted his executive action attempts to block offshore development.
- RWE is reinvesting proceeds into fossil fuels, including $900 million for a Louisiana liquified natural gas project and $300 million on gas turbines, bringing total expenditures to roughly $3.9 billion.
- Sheldon Whitehouse, D-R, characterized the buybacks as a "corruption story" and a "scam," arguing the strategy effectively bribes companies to abandon clean energy and raises consumer costs.
- Interior Secretary Doug Burgum defended the agreement Thursday, stating Americans "deserve an energy system built on common sense" that strengthens the nation's energy security while keeping electricity affordable.
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"Just something for stupid people: Donald Trump's US government is leading an unprecedented campaign against wind power – which it can cost a lot of money. A deal with the German energy giant RWE is particularly responsible for shaking the heads of US economists.
The administration of US President Donald Trump will pay German company RWE $1.2 billion (25.2 billion crowns) to abandon pending wind farm projects off the coast of the United States. RWE has reached an agreement with the US Department of the Interior, the BBC reported.
Trump's antipathy to wind energy is lose-lose-lose
President Donald Trump’s weird hatred of offshore wind energy is costing a lot as Uncle Sam has to pay off the companies which had invested in the canceled projects. For the fifth time now, the Trump administration has agreed to pay an energy firm a huge sum of money, not for building something, but in fact for not building it. The German firm RWE announced that it would receive $1.22 billion to stop development of already-planned offshore wind …
Trump Halts Offshore Wind Projects Citing National Security: Key Facts to Know
Trump Calls on National Security Concerns to Halt Offshore Wind Projects In a recent statement, former President Donald Trump invoked national security reasons as his basis for advocating the cessation of offshore wind farm developments. Here is a detailed explanation of the situation. Understanding Trump’s Position Donald Trump has publicly criticized the progression of offshore ... Read more L’article Trump Halts Offshore Wind Projects Citing …
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