PROVIDENCE, R.I. (AP) — The Trump administration will pay $1 billion to a French company to walk away from two U.S. offshore wind leases as the administration ramps up its campaign against offshore wind and other renewable energy.
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 fue...
In this arrangement, the Trump administration appears to be using financial incentives to steer a private company away from renewable energy investments and towards fossil fuels. This move aligns with the administration's second-term focus on boosting oil, gas, and coal production, which they argue will lower costs for families and maintain U.S. global leadership in artificial intelligence.
The deal raises questions about the long-term sustainability of U.S. energy policies and the role of priva...