Posted on 01/03/2024 4:06:11 PM PST by Libloather
Global energy developers Equinor and BP announced Wednesday they are canceling the contract for a massive wind project slated for construction off the coast of New York.
The two companies said they had reached an agreement with the New York State Energy Research and Development Authority (NYSERDA) to terminate the offshore wind renewable energy certificate for their Empire Wind 2 project. Equinor and BP explained that commercial conditions, namely inflation, interest rates and supply chain disruptions, prevented its contract for the project from remaining viable.
"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 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 Energy Department 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.
(Excerpt) Read more at foxnews.com ...
Huge crowds of seagulls, whales, and dolphins will rejoice...
Warren Buffet has always maintained that the only economic justification for investment in wind is to harvest government moneys. That’s the reality these blue sky proposals are bumping up against.
Hey! It’s a “success story,” man.
“Commercial viability is fundamental for ambitious projects of this size and scale.”
Why would they worry about commercial viability of heavily subsidized green boondoggle projects? With Brandonomics, you never worry about such trivialities.
Yeah, just wait for the 30 million acres in the gulf of Mexico off TX/LA to be adorned with them. 😂🌪🚽
Cancelled a few weeks after it was approved? That’s some mighty good planning. Typical of “green,” Brandon, Trash Back Better and all fedzilla grifting schemes.
The little retarded leftist icon Greta girl said we were supposed to be kaput last year. She’s as smart as Al gore
3 huge projects cancelled. did the feds already give these yahoos dinero ?
Green fraud is only supported by bloated, ideologue government - spending gobs of money borrowed at historical low interest rates.
“Equinor and BP explained that commercial conditions, namely inflation, interest rates and supply chain disruptions, prevented its contract for the project from remaining viable.”
BS...they just couldn’t live with the lie of global warming anymore and didn’t want to be hung by their shareholders when the whole cluster farted and fell.
Saint Greta is not going to like this. How dare they.
Awesome. A double failure.
https://www.renewableenergymagazine.com/wind/rsted-ceases-development-of-new-jersey-20231101
New Jersey Gov. Phil Murphy said, “Today’s decision by Ørsted o abandon its commitments to New Jersey is outrageous and calls into question the company’s credibility and competence. As recently as several weeks ago, the company made public statements regarding the viability and progress of the Ocean Wind 1 project.
“In recognition of the challenges inherent in large and complex projects, my administration in partnership with legislative leadership, insisted upon important protections that ensure New Jersey will receive $300 million to support the offshore wind sector should Orsted’s New Jersey projects fail to proceed.
“I have directed my administration to review all legal rights and remedies and to take all necessary steps to ensure that Ørsted fully and immediately honors its obligations.
Good. I hate those ugly bird-killing things.
Does the “Big Guy” need to give back his 10% cut?
“I think the reason the Ørsted cancellations just seemed so astounding was because they never came out and said, ‘We want to renegotiate our contracts, we want to rebid,’” said Samantha Woodworth, an offshore wind analyst with consulting firm Wood Mackenzie. “I think that it was the abruptness that caused the industry to sort of go, ‘Oh God!’”
Six East Coast governors recently penned a letter to the Biden administration, asking for more certainty on whether offshore wind developers can qualify for certain lucrative tax breaks, as well as a faster federal permitting process to help reduce project risk.
‘IF.
IF global warming affected by man was a thing, which I highly doubt it is.....
We could stop using “clean” coal and clean natural gas and build 100 large nuclear power plants, all away from tsunami risk zones and earthquake prone places and reduce our carbon footprint. The fact we arent and China and India especially arent, shows what a blatant lie manmade global warming is.
People are beginning to wise up to the wind power scam.
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