Free Republic

A Danish offshore wind company with major projects in the U.S. has taken huge losses Wednesday after warning about its so-far unsuccessful effort to get more federal subsidies, according to Reuters. Orsted stated Tuesday that it anticipates that its three developments in U.S. waters may be $2.3 billion less valuable than anticipated, in part because the firm is having trouble receiving more tax credits from the Biden administration, according to Reuters. Other problems the firm’s projects face include supply chain backups and rising interest rates that make refinancing difficult. “The situation in U.S. offshore wind is severe,” Orsted’s CEO, Mads...

Senate Minority Leader Chuck Schumer (D.-N.Y.) and Sen. Kirsten Gillibrand (D.-N.Y.) announced yesterday that the federal government will spend up to $18,000,000 to buy Concord grape juice in an effort to increase the price that New York farmers can get for their grapes. In a letter to Agricultural Secretary Sonny Perdue urging him to have the government buy the grape juice, Sen. Schumer noted that there are “more than 280 growers with over 9,700 acres” of Concord grape vineyards in New York State. “I write to encourage the United States Department of Agriculture’s (USDA) Agriculture Marketing Service (AMS) to utilize...