Interior, TotalEnergies Pivot From Offshore Wind to U.S. LNG Investment
TL;DR Summary
The Interior Department announced an agreement with TotalEnergies to renounce costly offshore wind leases and redirect about $1 billion into U.S. oil, gas, and LNG projects. TotalEnergies will be reimbursed up to the amount paid for the offshore wind leases, and the company pledges not to pursue new offshore wind development in the United States, as part of a policy described as lowering costs for American families and strengthening energy security.
- Interior and TotalEnergies Agree to End Offshore Wind Projects, Lowering Costs for American Families U.S. Department of the Interior (.gov)
- Trump admin pivots on offshore shore wind leases in big shift Axios
- US to pay almost $1bn to French energy company to kill wind project plan The Guardian
- United States: TotalEnergies Signs Agreements with U.S. Department of Interior to End its U.S. Offshore Wind Projects TotalEnergies.com
- Trump administration will pay a French company $1 billion in taxpayer funds to not build wind farms CNN
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