I recently reported that investors are fleeing renewable energy funds due to rising costs and escalating rates. Shortly after, I noted that “Sustainability Funds” are not sustainable.
We may have reached the “sudden” point in the collapse of green energy. A primary developer has just pulled the plug on two major offshore wind projects, which are deflating Biden’s green energy schemes.
Danish energy developer Orsted said Tuesday night it is scrapping two large offshore wind power projects off the coast of New Jersey, adding uncertainty to a nascent industry the Biden administration and many state governments are counting on to help transition away from the burning of planet-warming fossil fuels.The projects had been controversial but the company leading them said they would help New Jersey by creating hundreds of jobs and investing millions of dollars in clean energy in the state.However, the company said it is canceling its Ocean Wind I and II projects in southern New Jersey, citing supply chain issues and rising interest rates. The offshore wind farms were going to be located off the coast of Atlantic and Cape May counties.
Government officials had cited these projects as proof that….Bidenomics was working. Who could have guessed that high inflation and surging interest rates were not conducive to completing vast wind farms?
The Denmark-based energy firm said its board of directors voted to ax its high-profile Ocean Wind 1 and Ocean Wind 2 twin projects in response to changing macroeconomic factors, including high inflation, supply chain bottlenecks and rising interest rates. The projects had been personally backed by Democratic New Jersey Gov. Phil Murphy and cited by the White House as proof of “Bidenomics” working.”We have no choice but to cease development of Ocean Wind 1 and Ocean Wind 2,” said David Hardy, Orsted’s group executive vice president and Americas division CEO. “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,” Hardy continued. “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.”
It turns out that the good people of New Jersey don’t seem too broken up about the loss of the projects. HotAir’s Beege Welborn reviewed local opinion on this development.
The funny thing is, not a soul in the comments on his post has tissues out weeping in concert with [New Jersey Governor Phil Murphy] over the lost wind farms. The New Jersey residents who have bothered to scribe a thought are damn near universally shouting “HUZZAH!!” with a few berating their gov for extra good measure. He’s taking a thumping – I can’t find one sympathetic word.Jerseyites were put off by the Danish wind giant’s arrogance almost from the very beginning, no matter where they stood on Global Warming and renewables. And it didn’t matter how much money or job promises the feds or Murphy shoveled at communities as time went on – attitudes and resentment against the projects became damn near implacable.
This might also be good news for the whales and other marine mammals who make their home off the Eastern seaboard.
The latest whale to wash up on the East Coast was found Tuesday, August 29 in Loveladies on Long Beach Island. An adult female Pygmy Sperm measuring 10 feet 9 inches long and weighing over 800 pounds was stranded on the beach at Seaview Drive. Trained Marine Mammal Stranding Center (MMSC) Staff as well as members of the Long Beach Township Beach Patrol assisted in making the animal as comfortable as possible, by keeping her upright and wet as she lay on the beach.The whale was eventually carried in a stretcher onto a truck to be moved off the beach. The stranding team rushed the whale to the MMSC’s veterinarian. Upon examination, the whale was lethargic and unresponsive. According to the MMSC, when a cetacean (ie. dolphins, whales) is stranded, their own body weight causes crushing damage to their internal organs. The MMSC veterinarian decided to humanely euthanize the whale to prevent further suffering.
I managed to snag an interview with a resident, who also seemed happy with the news.
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