Why Trump's war on offshore wind spooks noncombatants
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The Trump team's move to halt a nearly complete offshore wind project and yank permits for others is worrying interests beyond just that sector.
Why it matters: "[R]evoking wind permits today opens the door to uncertainty for all types of energy projects in the future," the U.S. Chamber of Commerce said in a wider post on permitting.
- But it also credits President Trump with reducing red tape.
Catch up quick: The Interior Department last month halted construction of Ørsted's Revolution Wind project off Rhode Island and Connecticut.
- Trump attorneys have also signaled plans to nix or review permits for at least three other big offshore wind developments.
- Revolution Wind — a joint venture between Ørsted and a consortium led by Skyborn Renewables, a platform company of BlackRock Inc.-owned Global Infrastructure Partners — said the department lacked legal authority for the stop-work order.
What they're saying: Dan Brouillette, who was energy secretary in Trump 1.0, said on Fox Business that he's no fan of wind but fears an "unfortunate precedent."
- "Future administrations may use this very same tactic against LNG exporters here in the United States or even other fossil energy producers," he said.
- A TD Cowen note last week similarly stated: "While Trump is currently targeting renewables, watch for any future Dem Admin to be equally aggressive on disfavored fossil projects."
Friction point: Jarrod Agen, the top staffer on the White House "energy dominance" council, disputed that the offshore wind actions inject uncertainty into investing in U.S. energy infrastructure more broadly.
- "The certainty is around investing capital into projects that are not reliant on government tax dollars," he said in remarks at the Center for Strategic and International Studies.
- And Taylor Rogers, a White House spokeswoman, said via email that President Biden rushed reviews of offshore wind while placing "arbitrary" restrictions on fossil fuels.
Flashback: Slamming the brakes on a big project already underway isn't exclusive to Trump.
- Biden revoked permits for the Keystone XL oil pipeline after a small share was already built.
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