Source: Fortune
Summary
New York’s attorney general, Letitia James, has sued the Trump administration over a deal that would pay TotalEnergies $1 billion to abandon an offshore wind project. The project, which was expected to generate 3 gigawatts of clean energy, was canceled without following proper procedures, according to the complaint. The deal also includes a provision for TotalEnergies to invest the money in fossil fuel projects instead. The lawsuit, joined by several other states, argues that the cancellation of the lease will harm their economies, energy grids, and climate goals.
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The numbers tell one story.
The Trump administration is spending nearly $2 billion to get energy companies to walk away from U.S. offshore wind projects. TotalEnergies is getting a $1 billion refund for its leases, which it will invest in fossil fuel projects instead. The deal is part of a larger strategy by the Trump administration to thwart offshore wind development. The lawsuit argues that the cancellation of the lease was done without following proper procedures.
The announcement sounds like a familiar tale of corporate welfare.
