November 2, 2023

Wind Project Developer Drops 2 Major Projects

Joe Biden has been dealt yet another blow to his green energy agenda.

This time it was the shutting down of two major projects that were only months ago touted as proof that Bidenomics was working.

It’s working all right, just not how Biden has been saying it is.

Failure to Launch

Global energy developer Orsted recently announced that it was canceling two major offshore wind projects that were slated to be constructed off the coast of New Jersey.

Ocean Wind 1 and Ocean Wind 2 twin projects are no more thanks to the inflation that Bidenomics has created.

When the projects were first announced, White House national climate adviser Ali Zaidi stated, "Today’s announcement gives the green light for the construction of another. This project, off the coast of New Jersey, will supply enough energy on its own to power nearly half a million homes.

“This massive expansion in clean energy construction didn’t just happen. It’s not an accident. It’s Bidenomics in action. Big, bold, and building things.

"Thanks to President Biden’s leadership, the United States will keep seizing opportunities for offshore wind and other clean energy technologies, strengthening our energy security and advancing our climate goals, all while creating good-paying jobs up and down the manufacturing supply chain.”

David Hardy, Orsted's group executive vice president and Americas division CEO, however, has now canceled the projects due to inflation, supply chain bottlenecks, and rising interest rates.

He stated, "We have no choice but to cease development of Ocean Wind 1 and Ocean Wind 2.

“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.

"We remain committed to the U.S. renewable energy market, building clean power that will create jobs across technologies and states from the Northeast to Texas.

"Offshore wind energy remains an integral solution to helping the U.S. meet its clean energy ambitions, including job creation, a domestic supply chain and a reinvigorated maritime industry."

Ironically, when the project had been first announced, White House spokesperson Michael Kikukawa cited the Inflation Reduction Act and specifically stated that challenges that other projects were seeing would not impact this project, the very things that did shut it down.

At the time, he stated, "While macroeconomic headwinds are creating challenges for some projects, momentum remains on the side of an expanding U.S. offshore wind industry — creating good-paying union jobs in manufacturing, shipbuilding, and construction; strengthening the power grid; and providing new clean energy resources for American families and businesses.”

Daniel Turner, founder and executive director of energy group Power The Future, slammed Governor Murphy, stating, "When green dreams run into hard reality, the results are never pretty.

"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."

His comments were in response to comments made by Murphy earlier, who had stated, "Today’s decision by Orsted to 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.

"I have directed my Administration to review all legal rights and remedies and to take all necessary steps to ensure that Orsted fully and immediately honors its obligations.”

This is what happens when you get overly aggressive trying to replace fossil fuels instead of gradually folding in the newer energy models and allowing them to work in conjunction with fossil fuel energy.

This is just one in a long line of domestic and foreign policy failures that we can add to the legacy of the Biden-Harris administration.

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