It's official: The Trump admin is repaying TotalEnergies nearly $1B to ditch US offshore wind—and spend it on domestic oil and gas. (Reuters)
The $1 billion reimburses TotalEnergies for lease bids off the NY and NC coasts. Total will invest $928M this year into LNG, Gulf oil, and shale gas. The company has also pledged not to develop any new offshore wind in the US.
Offshore wind trade group Oceantic Network condemned the admin for harnessing taxpayer dollars to obstruct new projects as energy prices soar.