Trump Administration Cancels Offshore Wind Leases, Shifts Investment to Fossil Fuels

MT Newswires Live04-28

The Trump administration has struck agreements to cancel offshore wind leases and redirect investment toward conventional energy projects, as part of its push to boost energy security and affordability.

The deals with Bluepoint Wind and Golden State Wind will see the companies end their leases in exchange for investing equivalent amounts in areas such as liquefied natural gas, and oil and gas infrastructure.

The U.S. Department of the Interior said Bluepoint plans to invest up to $765 million, while Golden State Wind will commit about $120 million.

The department said the agreements aim to move away from projects reliant on subsidies and toward more reliable energy sources.

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