https://apnews.com/article/trump-offsho ... 70256c734d
From my understanding, most energy sources are subsidized to get them moving along. How long it takes the source to produce a profit usually depends. Nuclear is heavily subsidized and takes 10-20 years to turn a profit. Coal is on its way out as it's not really that profitable anymore. Coal is actually less profitable than wind and solar power generation which I found interesting, hence a reason why it's on its way out.Bluepoint Wind and Golden State Wind have agreed to end their offshore wind leases in exchange for reimbursements totaling nearly $900 million. Both companies have decided not to pursue any new offshore wind projects in the United States, the Interior Department announced Monday.
Bluepoint Wind is an offshore wind project in the early stages of development off the coasts of New Jersey and New York, while Golden State Wind is a floating offshore wind project proposed off California’s central coast.
Interior said it’s following the model of its recent deal with the French energy company TotalEnergies, which is getting a $1 billion payout to walk away from projects off the coasts of North Carolina and New York. TotalEnergies agreed in March to what’s essentially a refund of its leases, and will invest the money in fossil fuel projects instead.
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Two weeks later, the administration ordered that construction stop on five major East Coast offshore wind projects, citing national security concerns. Developers and states sued, and federal judges allowed all five to resume construction, essentially concluding that the government didn’t show that the national security risk was so imminent that construction must halt.
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Interior Secretary Doug Burgum said companies were sold a product that was only viable when propped up by massive taxpayer subsidies when they bid for these offshore wind leases in 2022, under former President Joe Biden.
“Now that hardworking Americans are no longer footing the bill for expensive, unreliable, intermittent energy projects, companies are once again investing in affordable, reliable, secure energy infrastructure,” Burgum said in a statement. “We welcome each of the projects’ willingness to actually support baseload power and lower utility bills for American families.”
Trends seem to indicate that solar power + on shore wind generation completely dominate new energy production. https://electrek.co/2026/04/01/ferc-ren ... y-in-2025/
Natural gas follows far behind.
Burgum's statement is rather disengenous and based more on ideology than economics. He's not wrong - offshore wind projects do receive tax breaks and subsidies as most energy projects do - but he's implying they'll never turn a profit and be a permanent cost sink.
Now, he's paying back the folks who just send in more bribes.
Fowler is ranked #56, but Morikawa is ranked #6.
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