Just so we’re clear on what The New York Times is reporting today.
Instead of just letting a company that is all ready to build a US wind farm, with US labor, for US consumers, in US waters, bringing their own money, the Trump administration plans to allocate a billion dollars of taxpayers money to pay the company to go away.
During the biggest energy crisis in history, that they caused, and continue to exacerbate.
Got it.
The Trump administration is considering a new strategy for throttling the country’s offshore wind industry, after federal judges blocked its five previous attempts to stop wind farms under construction off the East Coast.
Senior administration officials are drafting settlement agreements that would pay nearly $1 billion to TotalEnergies, the French energy company behind two wind farms off New York State and North Carolina, according to documents reviewed by The New York Times, including copies of the agreements.
Under the terms of the proposed settlements, the Interior Department would cancel the leases in federal waters for the two projects, known as Attentive Energy and Carolina Long Bay, the documents show. The Justice Department would then pay more than $928 million to TotalEnergies, reimbursing the company for its winning bids in lease sales during the Biden administration.
In exchange, TotalEnergies would abandon its plans to begin building the wind farms. It would also commit to investing in natural gas infrastructure in Texas, as the Trump administration prioritizes the production of fossil fuels over renewables like wind and solar power.
Irish Minister struggles not to laugh at Trump:
https://ca.news.yahoo.com/trump-goes-wild-rant-irish-184317196.html
“Under the terms of the proposed settlements, the Interior Department would cancel the leases in federal waters for the two projects […] The Justice Department would then pay more than $928 million to TotalEnergies, reimbursing the company for its winning bids in lease sales during the Biden administration.”
So after declaring an “energy emergency” claiming the nation needs more electricity as quickly as possible, the President is PAYING A BILLION DOLLARS of AMERICAN TAX MONEY to a company to NOT PROVIDE ELECTRICITY IN AMERICA.
And in return, the company will pinky-swear to work on fossil fuel development in the Gulf of Mexico, in order to aid the US producers ramp up export capacity so they can EXPORT FUELS PRODUCED HERE TO OTHER COUNTRIES where buyers are willing to pay more. Because the current administration is doing all it can to let the gas industry build more and more LNG processing and export capacity in the Gulf – which will force American buyers to compete (and thus spend more money) on natural gas, while NOT GETTING FREE ELECTRICITY FROM WIND.
I’m sorry, I’m not understanding the genius of this move.
This only makes sense if you recall that the person who suggested it caused multiple bankruptcies.