Another Offshore Wind Project Bites the Dust

Another Offshore Wind Project Bites the Dust

January 4, 2024

It was announced this week that Equinor and BP are joining Ørsted in canceling their massive offshore wind project. The project was supposed to take place off the coast of New York but is being canceled due to inflation, interest rates, and supply chain disruptions.

Fox News reports,

“Commercial viability is fundamental for ambitious projects of this size and scale. The Empire Wind 2 decision provides the opportunity to reset and develop a stronger and more robust project going forward,” Molly Morris, president of Equinor Renewables Americas, said in a statement. “We will continue to closely engage our many community partners across the state…BP is supportive of NYSERDA’s leadership and commitment to offshore wind, which we believe is a critical part of New York State’s and America’s clean energy future,” added Joshua Weinstein, BP’s president of offshore wind Americas. “Offshore wind can deliver reliable renewable power as well as economic benefits to the state and its communities.”

The Biden administration just approved the project in November. Interior Secretary Deb Haaland stated, “Under President Biden’s leadership, the American offshore wind industry is continuing to expand rapidly — creating good-paying union jobs across the manufacturing, shipbuilding, and construction sectors.” Now, weeks later, another project has been canceled.

“The cancelation of Empire Wind 2 comes weeks after the Biden administration formally approved it and its counterpart, Empire Wind 1, in November. The Department of the Interior (DOI) and Department of Energy (DOE) have both endorsed the project, while the White House has referred to it as a success story of “Bidenomics.” It also comes shortly after energy developer Orsted canceled its Ocean Wind 1 and Ocean Wind 2 twin projects, which were also approved and hailed by the Biden administration. Orsted also blamed negative economic conditions.”

For too long, we have had to hear the eco-left proclaim that renewable sources like wind and solar are the newest and greatest things. But time and time again, we have seen these energy sources become too expensive and unreliable. In 2024, we must focus on the fossil fuel industry and prioritize bringing back our energy independence.