TotalEnergies Milks Trump For $1 Billion In Offshore Wind "Deal"

The article discusses a controversial $1 billion payment made by the U.S. Interior Department to TotalEnergies, effectively compensating the company for abandoning offshore wind farm projects in the United States. Announced on March 23, this deal aligns with former President Donald Trump’s fossil-fuel-friendly energy policies, as the administration framed the agreement as a strategic redirection of funds from offshore wind—deemed "expensive and unreliable"—to natural gas projects. However, the article criticizes this rationale and questions why TotalEnergies was paid to quit projects it was unlikely to develop soon, unlike other firms such as Ørsted, which voluntarily shelved offshore wind projects without compensation due to economic pressures like inflation, supply chain issues, and regulatory setbacks. The article highlights the challenges faced by offshore wind projects in the New York Bight, a key area off the coasts of New Jersey and Long Island. Several companies, including Ørsted, Shell, and EDF, have paused or abandoned projects