"TotalEnergies has agreed to what's essentially a refund of its leases for projects off the coasts of North Carolina and New York, and will invest the money in fossil fuel projects instead."
"TotalEnergies pledged to not develop any new offshore wind projects in the United States, considering that the development of offshore wind projects is not in the country's interest."
"The refunded lease fees will finance the construction of a liquefied natural gas plant in Texas and the development of its oil and gas activities, calling it a more efficient use of capital."
"Interior Secretary Doug Burgum stated, 'We welcome TotalEnergies' commitment to developing projects that produce dependable, affordable power to lower Americans' monthly bills.'"
The Trump administration has agreed to pay $1 billion to TotalEnergies to relinquish two offshore wind leases off North Carolina and New York. This decision aligns with the administration's push against renewable energy, favoring fossil fuel investments. TotalEnergies will use the refunded lease fees to finance a liquefied natural gas plant in Texas and enhance its oil and gas operations. The company's CEO stated that abandoning offshore wind development is in the country's best interest, while environmental groups criticized the deal as a means to obstruct wind projects.
Read at www.npr.org
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