New Jersey’s $1 Billion Wind Horror Story

New Jersey’s $1 Billion Wind Horror Story

November 1, 2023

Halloween got spookier for the eco-left last night as Ørsted, a global offshore wind developer, announced it is abandoning one of the largest wind projects in the country. The project was to be based in New Jersey, with the Garden State residents now stuck with a $1 billion tab. Just last June, New Jersey lawmakers narrowly approved a measure allowing the wind manufacturer to keep tax credits it would have otherwise had to return to ratepayers. 

Fox News reports,  

“The Denmark-based energy firm said its board of directors voted to ax its high-profile Ocean Wind 1 and Ocean Wind 2 twin projects in response to changing macroeconomic factors, including high inflation, supply chain bottlenecks and rising interest rates. The projects had been personally backed by Democratic New Jersey Gov. Phil Murphy and cited by the White House as proof of “Bidenomics” working. “We have no choice but to cease development of Ocean Wind 1 and Ocean Wind 2,” said David Hardy, Ørsted’s group executive vice president and Americas division CEO. “We are extremely disappointed to have to take this decision, particularly because New Jersey is poised to be a U.S. and global hub for offshore wind energy.”’

The eco-left has long claimed clean energy options like wind turbines will be the future of energy but fail to discuss the negative sides of their plans. Offshore wind is an expensive, unreliable investment that can even harm wildlife. 

“When green dreams run into hard reality, the results are never pretty,” said Daniel Turner, Founder and Executive Director for Power The Future. “Wind power receives billions in taxpayer support, yet we see project after project failing. In this case, it’s the people of New Jersey left holding the bag. Governor Murphy can rage all he wants about getting back money from the company for coffers in Trenton, but the truth is the green agenda pushed by him and other militant leftists that made today happen. That’s cold comfort to Garden State families staring down a long cold winter with soaring energy costs.”

Green energy policies have little to do with the environment and more to do with the government picking winners and losers in the energy industry. Americans have a right to know the real impact of dismantling our nation’s domestic oil and gas industry.