Shell’s top US exec has a warning: The Trump administration’s assault on offshore wind is scaring off investors—and could backfire on the oil industry next. (FT)
“Uncertainty in the regulatory environment is very damaging,” said Colette Hirstius, president of Shell USA, in an interview with FT. “However far the pendulum swings one way, it’s likely to swing just as far the other way.”
The administration has halted multiple fully permitted offshore wind projects, including some Shell helped develop. Hirstius said projects that have already cleared the permitting process should be allowed to move forward, comparing the current climate to the permit uncertainty oil companies faced under former President Joe Biden.