The Biden administration’s offshore wind agenda became a textbook case of good intentions paving the road to fiscal disaster.
This week, President Trump pulled the plug on this green money pit. The Transportation Department canceled $679 million in federal funding earmarked for a dozen offshore wind projects, including $435 million for a floating wind farm in Northern California.
The $679 million represents just the beginning. Trump’s Energy Department simultaneously withdrew a $716 million loan guarantee for a New Jersey wind project. The administration also halted construction of the nearly complete Revolution Wind project off Rhode Island and Connecticut, citing unspecified national security concerns.
When you add it up, we’re talking about nearly $1.4 billion in taxpayer money no longer flowing to these questionable ventures. [istandforfreedom]
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