Energy & Climate
Trump Administration Spends $765 Million to Cancel Offshore Wind Projects
MeidasTouch
MAGA Mike PANICS over PERMANENT SHUTDOWN of HOUSE?!!
"The Trump administration just announced that spending another $765 million in taxpayer money to cancel four offshore wind projects. Under this deal, Chicago-based energy developer Invenergy will surrender its offshore wind leases in the New York Bight, off California's Central Coast, and in the Gulf of Maine. And in return, the federal government will reimburse the company $765 million, with Invenergy saying that it plans to redirect much of that money into building new natural gas power plants."
The Trump administration paid energy company Invenergy $765 million in taxpayer funds to abandon four offshore wind leases, bringing the total cost of wind project cancellations to $2.5 billion. The company plans to use the money to build natural gas plants instead. This represents the third major lease buyout as part of Trump's campaign against wind energy while other nations like China expand renewable infrastructure.
From this episode
MeidasTouch