Source: Bloomberg
Summary
The Trump administration’s policies have led to the abandonment of 12 offshore wind leases, with the latest cancellation costing taxpayers $1.2 billion. The decision is part of a broader trend of the administration’s efforts to reduce renewable energy development. According to reports, the leases were canceled due to a lack of interest from developers.
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The announcement sounds ambitious.
Developers have abandoned 12 offshore wind leases, with the latest cancellation costing taxpayers $1.2 billion. The decision is part of the Trump administration’s efforts to reduce renewable energy development. This is not the first time a project has been canceled due to lack of interest. It’s just another case of “business as usual” in the world of energy development.
Original observation: The only thing more impressive than the size of the loss is the speed at which the administration can make a bad investment.
Author: Evan Null
