No Result
View All Result
SUBMIT YOUR ARTICLES
  • Login
Sunday, February 8, 2026
TheAdviserMagazine.com
  • Home
  • Financial Planning
    • Financial Planning
    • Personal Finance
  • Market Research
    • Business
    • Investing
    • Money
    • Economy
    • Markets
    • Stocks
    • Trading
  • 401k Plans
  • College
  • IRS & Taxes
  • Estate Plans
  • Social Security
  • Medicare
  • Legal
  • Home
  • Financial Planning
    • Financial Planning
    • Personal Finance
  • Market Research
    • Business
    • Investing
    • Money
    • Economy
    • Markets
    • Stocks
    • Trading
  • 401k Plans
  • College
  • IRS & Taxes
  • Estate Plans
  • Social Security
  • Medicare
  • Legal
No Result
View All Result
TheAdviserMagazine.com
No Result
View All Result
Home Market Research Business

Trump breaks wind funding again, canceling $679 million in federal funding for a dozen offshore projects

by TheAdviserMagazine
5 months ago
in Business
Reading Time: 4 mins read
A A
Trump breaks wind funding again, canceling 9 million in federal funding for a dozen offshore projects
Share on FacebookShare on TwitterShare on LInkedIn



The Transportation Department on Friday canceled $679 million in federal funding for a dozen offshore wind projects, the latest attack by the Trump administration on the reeling U.S. offshore wind industry.

Funding for projects in 11 states was rescinded, including $435 million for a floating wind farm in Northern California and $47 million to boost an offshore wind project in Maryland that the Interior Department has pledged to cancel.

“Wasteful wind projects are using resources that could otherwise go towards revitalizing America’s maritime industry,” Transportation Secretary Sean Duffy said in a statement. “Thanks to President Trump, we are prioritizing real infrastructure improvements over fantasy wind projects that cost much and offer little.”

It’s the latest step by the administration against renewable energy sources

The Trump administration has stepped up its crusade against wind and other renewable energy sources in recent weeks, cutting federal funding and canceling projects approved by the Biden administration in a sustained attack on clean energy sources that scientists say are crucial to the fight against climate change.

President Donald Trump has vowed to restore U.S. “energy dominance” in the global market and has pushed to increase U.S. reliance on fossil fuels such as coal, oil and natural gas that emit planet-warming greenhouse gases.

California Rep. Jared Huffman, the top Democrat on the House Natural Resources Committee, called Duffy’s action “outrageous” and deeply disappointing.

Trump and his Cabinet “have a stubborn and mystifying hatred of clean energy,” Huffman said in an interview. “It’s so dogmatic. They are willing to eliminate thousands of jobs and an entire sector that can bring cheap, reliable power to American consumers.”

The canceled funding will be redirected to upgrade ports and other infrastructure in the U.S., where possible, the Transportation Department said.

Other wind projects are also being halted

Separately, Trump’s Energy Department said Friday it is withdrawing a $716 million loan guarantee approved by the Biden administration to upgrade and expand transmission infrastructure to accommodate a now-threatened offshore wind project in New Jersey.

The moves come as the administration abruptly halted construction last week of a nearly complete wind farm off the coast of Rhode Island and Connecticut. The Interior Department said the government needs to review the $4 billion Revolution Wind project and address national security concerns. It did not specify what those concerns are.

Democratic governors, lawmakers and union workers in New England have called for Trump and Interior Secretary Doug Burgum to reverse course.

Trump has long expressed disdain for wind power, frequently calling it an ugly and expensive form of energy that “smart” countries don’t use.

Earlier this month, the Interior Department canceled a major wind farm in Idaho, a project approved late in former President Joe Biden’s term that had drawn criticism for its proximity to a historic site where Japanese Americans were incarcerated during World War II.

Trump blames renewable power for rising energy prices

Last week, with U.S. electricity prices rising at more than twice the rate of inflation, Trump lashed out, falsely blaming renewable power for skyrocketing energy costs. He called wind and solar energy “THE SCAM OF THE CENTURY!” in a social media post and vowed not to approve any wind or solar projects.

“We’re not allowing any windmills to go up unless there’s a legal situation where somebody committed to it a long time ago,” Trump said at a Cabinet meeting on Tuesday.

Energy analysts say renewable sources have little to do with recent price hikes, which are based on increased demand from artificial intelligence and energy-hungry data centers, along with aging infrastructure and increasingly extreme weather events such as wildfires that are exacerbated by climate change.

Revolution Wind’s developer, Danish energy company Orsted, said it is evaluating the financial impact of stopping construction on the New England project and is considering legal proceedings.

Revolution Wind was expected to be Rhode Island and Connecticut’s first commercial-scale offshore wind farm, capable of powering more than 350,000 homes. In addition to hampering the states’ climate goals, losing out on all that renewable power could drive up electricity prices throughout the region, Democratic officials say.

Critics say climate and jobs are at risk

Trump has made sweeping strides to prioritize fossil fuels and hinder renewable energy projects. Those include reviewing wind and solar energy permits, canceling plans to use large areas of federal waters for new offshore wind development and stopping work on another offshore wind project for New York, although construction was later allowed to resume.

Some critics say the steps to cancel projects put Americans’ livelihoods at risk.

“It’s an attack on our jobs,” Rhode Island Gov. Dan McKee said of the move to stop construction of Revolution Wind. “It’s an attack on our energy. It’s an attack on our families and their ability to pay the bills.”

Patrick Crowley, president of the Rhode Island AFL-CIO, said his union is “going to fight (Trump) every step of the way, no matter how long it takes.”

Under Biden, the U.S. held the first-ever auction of leases for floating wind farms in December 2022. Deep waters off the West Coast are better suited for floating projects than those that are anchored in the seabed, officials said.

Introducing the 2025 Fortune Global 500, the definitive ranking of the biggest companies in the world. Explore this year’s list.



Source link

Tags: BreakscancelingdozenfederalFundingMillionoffshoreProjectsTrumpwind
ShareTweetShare
Previous Post

Buy TJX Over Kohl’s Corporation (KSS), Says Jim Cramer

Next Post

The new head of the CDC has no training in medicine and once helped Peter Thiel develop man-made islands floating outside U.S. territory

Related Posts

edit post
Super Bowl ads go for silliness, tears and nostalgia as Americans reel from ‘collective trauma’

Super Bowl ads go for silliness, tears and nostalgia as Americans reel from ‘collective trauma’

by TheAdviserMagazine
February 8, 2026
0

At a difficult time for America, Super Bowl advertisers ask viewers to take care of themselves and others — and maybe even...

edit post
Is Rigetti Stock (RGTI) a Buy Now?

Is Rigetti Stock (RGTI) a Buy Now?

by TheAdviserMagazine
February 8, 2026
0

Fans of quantum computing stocks are no doubt familiar with quantum computing unit (QCU) maker Rigetti Computing (NASDAQ: RGTI). The...

edit post
Japanese prime minister’s landslide win gives her party a lower-house supermajority and more room to enact a right-wing agenda

Japanese prime minister’s landslide win gives her party a lower-house supermajority and more room to enact a right-wing agenda

by TheAdviserMagazine
February 8, 2026
0

The governing party of Prime Minister Sanae Takaichi secured a two-thirds supermajority in a key parliamentary election Sunday, Japanese media reported...

edit post
UBS banked Ghislaine Maxwell for years, moving her money after Epstein’s arrest

UBS banked Ghislaine Maxwell for years, moving her money after Epstein’s arrest

by TheAdviserMagazine
February 8, 2026
0

LONDON/TORONTO/FRANKFURT: Swiss wealth giant UBS opened accounts for Ghislaine Maxwell in 2014 just months after JPMorgan Chase decided to end...

edit post
Verizon CEO admits to and apologized for huge pricing mistake

Verizon CEO admits to and apologized for huge pricing mistake

by TheAdviserMagazine
February 8, 2026
0

The wireless industry does not traditionally have a great reputation when it comes to being transparent. That was the basis...

edit post
Wiz CEO buys Rishpon plot for NIS 40m

Wiz CEO buys Rishpon plot for NIS 40m

by TheAdviserMagazine
February 8, 2026
0

Israeli cybersecurity company cofounder and CEO Assaf Rappaport has purchased a plot of land on Moshav Rishpon for NIS...

Next Post
edit post
The new head of the CDC has no training in medicine and once helped Peter Thiel develop man-made islands floating outside U.S. territory

The new head of the CDC has no training in medicine and once helped Peter Thiel develop man-made islands floating outside U.S. territory

edit post
Why Erroding the Fed’s Independence Will Only Make It Harder to Track Mortgage Rates

Why Erroding the Fed's Independence Will Only Make It Harder to Track Mortgage Rates

  • Trending
  • Comments
  • Latest
edit post
Most People Buy Mansions But This Virginia Lottery Winner Took the Lump Sum From a 8 Million Jackpot and Bought a Zero-Turn Lawn Mower Instead

Most People Buy Mansions But This Virginia Lottery Winner Took the Lump Sum From a $348 Million Jackpot and Bought a Zero-Turn Lawn Mower Instead

January 10, 2026
edit post
Utility Shutoff Policies Are Changing in Several Midwestern States

Utility Shutoff Policies Are Changing in Several Midwestern States

January 9, 2026
edit post
Medicare Fraud In California – 2.5% Of The Population Accounts For 18% Of NATIONWIDE Healthcare Spending

Medicare Fraud In California – 2.5% Of The Population Accounts For 18% Of NATIONWIDE Healthcare Spending

February 3, 2026
edit post
Tennessee theater professor reinstated, with 0,000 settlement, after losing his job over a Charlie Kirk-related social media post

Tennessee theater professor reinstated, with $500,000 settlement, after losing his job over a Charlie Kirk-related social media post

January 8, 2026
edit post
Key Nevada legislator says lawmakers will push for independent audit of altered public record in Nevada OSHA’s Boring Company inspection 

Key Nevada legislator says lawmakers will push for independent audit of altered public record in Nevada OSHA’s Boring Company inspection 

February 4, 2026
edit post
Where Is My South Carolina Tax Refund

Where Is My South Carolina Tax Refund

January 30, 2026
edit post
Resource Review – TRAK

Resource Review – TRAK

0
edit post
Malvern International joins forces with London Met in 15-year deal

Malvern International joins forces with London Met in 15-year deal

0
edit post
Super Bowl ads go for silliness, tears and nostalgia as Americans reel from ‘collective trauma’

Super Bowl ads go for silliness, tears and nostalgia as Americans reel from ‘collective trauma’

0
edit post
The Dark Money Pool – Is Pelosi Still Connected?

The Dark Money Pool – Is Pelosi Still Connected?

0
edit post
Deutsche Börse’s 360T Plugs Bitpanda Into FX Network to Channel Institutions Into Crypto

Deutsche Börse’s 360T Plugs Bitpanda Into FX Network to Channel Institutions Into Crypto

0
edit post
5 Tax-Season Choices That Have Long-Term Consequences

5 Tax-Season Choices That Have Long-Term Consequences

0
edit post
Super Bowl ads go for silliness, tears and nostalgia as Americans reel from ‘collective trauma’

Super Bowl ads go for silliness, tears and nostalgia as Americans reel from ‘collective trauma’

February 8, 2026
edit post
Is Rigetti Stock (RGTI) a Buy Now?

Is Rigetti Stock (RGTI) a Buy Now?

February 8, 2026
edit post
Japanese prime minister’s landslide win gives her party a lower-house supermajority and more room to enact a right-wing agenda

Japanese prime minister’s landslide win gives her party a lower-house supermajority and more room to enact a right-wing agenda

February 8, 2026
edit post
UBS banked Ghislaine Maxwell for years, moving her money after Epstein’s arrest

UBS banked Ghislaine Maxwell for years, moving her money after Epstein’s arrest

February 8, 2026
edit post
5 Prescription Pricing Changes That Hit Chronic Conditions Harder

5 Prescription Pricing Changes That Hit Chronic Conditions Harder

February 8, 2026
edit post
5 Tax-Season Choices That Have Long-Term Consequences

5 Tax-Season Choices That Have Long-Term Consequences

February 8, 2026
The Adviser Magazine

The first and only national digital and print magazine that connects individuals, families, and businesses to Fee-Only financial advisers, accountants, attorneys and college guidance counselors.

CATEGORIES

  • 401k Plans
  • Business
  • College
  • Cryptocurrency
  • Economy
  • Estate Plans
  • Financial Planning
  • Investing
  • IRS & Taxes
  • Legal
  • Market Analysis
  • Markets
  • Medicare
  • Money
  • Personal Finance
  • Social Security
  • Startups
  • Stock Market
  • Trading

LATEST UPDATES

  • Super Bowl ads go for silliness, tears and nostalgia as Americans reel from ‘collective trauma’
  • Is Rigetti Stock (RGTI) a Buy Now?
  • Japanese prime minister’s landslide win gives her party a lower-house supermajority and more room to enact a right-wing agenda
  • Our Great Privacy Policy
  • Terms of Use, Legal Notices & Disclosures
  • Contact us
  • About Us

© Copyright 2024 All Rights Reserved
See articles for original source and related links to external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • Financial Planning
    • Financial Planning
    • Personal Finance
  • Market Research
    • Business
    • Investing
    • Money
    • Economy
    • Markets
    • Stocks
    • Trading
  • 401k Plans
  • College
  • IRS & Taxes
  • Estate Plans
  • Social Security
  • Medicare
  • Legal

© Copyright 2024 All Rights Reserved
See articles for original source and related links to external sites.