Offshore Wind’s Bizarre Global Problem: Orsted’s cancellation of two big New Jersey wind projects raises questions about the way the Biden administration is approaching renewable energy.
by thenewrepublic
Offshore Wind’s Bizarre Global Problem: Orsted’s cancellation of two big New Jersey wind projects raises questions about the way the Biden administration is approaching renewable energy.
by thenewrepublic
3 comments
Energy analytics firm BloombergNEF finds that more than half of all offshore wind contracts in the U.S. either have been or are at risk of being canceled. This may well put the White House’s 2030 wind power generation goals out of reach.
The Biden administration??!! He doesn’t dictate the policies of companies.
https://apnews.com/article/orsted-offshore-wind-new-jersey-guarantee-forfeit-2512e3bdfc2be70c137084fd2bdad02f
GTFOOH with this ridiculous, right-wing gibberish!
U.S. should just build these directly.
*”foreign companies are essentially making U.S. decarbonization contingent on the public’s willingness to shoulder their costs. As geographer Brett Christophers has argued, the viability of renewable energy may simply require generous, persistent subsidies, even if interest rates are kept low. After all, that’s exactly what the fossil fuel industry has received via more than a century of generous subsidies, diplomatic support, and state-led market coordination—in other words, industrial policy. “*