Trump Victory Deals Blow to Offshore Wind Energy Agenda
While uncertainty remains, what is clear is that energy markets – especially the offshore wind industry, which relies heavily on government subsidies, will remain volatile.
With Trump’s promise last May to end offshore wind construction on day one, his victory has the already troubled industry on edge. “We are going to make sure that that ends on day one,” Trump told supporters at his Wildwood, New Jersey rally in May. “I’m going to write it out in an executive order. It’s going to end on day one.”
Executives and insiders were already nervous at The American Clean Power Association annual meeting, held in New Jersey last week. “We have this conference in October every year and obviously a week before a federal election, that adds a certain amount of energy and uncertainty,” American Clean Power Association CEO Jason Grumet said.
Trump’s historic victory last Tuesday changed everything for Energy markets and Climate pundits, sending both reeling. Ørsted, the global leader in offshore wind, shares plunged in early morning trading on Wednesday. According to a Reuters report, the world’s largest offshore wind developer fell as much as 14 per cent.
Paris Climate Accord
Along with wind energy destabilization, it is believed by insiders that the administration will take immediate steps to – once again – remove the US from the Paris Climate Accord. Trump’s previous administration deemed the agreement as disadvantageous to the United States. “The Paris climate accord does nothing to actually improve the environment here in the United States or globally,” Mandy Gunasekara, Trump’s former EPA chief of staff, had said of the agreement.
In a 2017 Rose Garden address, Trump announced he was planning to exit the Paris Climate Accord in hopes of a new negotiation, “As President, I can put no other consideration before the wellbeing of American citizens. The Paris Climate Accord is simply the latest example of Washington entering into an agreement that disadvantages the United States to the exclusive benefit of other countries, leaving American workers — who I love — and taxpayers to absorb the cost in terms of lost jobs, lower wages, shuttered factories, and vastly diminished economic production.”
According to his administration the agreement imposed, “no meaningful obligations on the world’s leading polluters.” The agreement granted China the ability to increase emissions for thirteen years – and India’s participation is contingent on the promise that they receive billions of dollars in foreign aid. Under the agreement, due to treaty’s rules, the US was not able to officially withdraw from the accord until November 2020. On his first day in office, President Biden brought the United States immediately back into the Paris Agreement.
With his victory, Trump’s administration has already signaled it will once again remove the United States from the agreement. Per the rules, they will only have to wait a year before the exit. This will give the administration a full three years to execute a domestic energy policy course of action – without any need to report to the UN or to be bound by its rules.
Trump’s decisive win is worrying world leaders who will meet next week in Azerbaijan – for the UN climate talks at COP29. Speculation on Trump’s plans are already taking center stage and will make talks and negotiations more difficult for those attending. While uncertainty remains, what is clear is that energy markets – especially the offshore wind industry, which relies heavily on government subsidies, will remain volatile.
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Comments
“Under the agreement, due to treaty’s rules, …”
When was this treaty ratified by the US senate?
Best information I can find is, never. Why wait a year then?
This is why it is called an accord, because it isn’t a treaty. We are not bound by it. Waiting a year means bodiddley.
Because the Marxists lie.
I think that’s the easy way out of it.
Call it what it is, a Treaty, and submit it for Senate review. After they reject it out of hand, we may promptly ignore it.
If only the Bricker Amendment had passed, that’s what we’d be doing. But under current “constitutional interpretation,” the Executive can commit to “agreements” that aren’t treaties, but have pretty much all the force of treaties, and which can give the fedguv power they were never delegated in the constitution to boot.
“Trump Victory Deals Blow to Offshore Wind Energy Agenda”
Gawd I hope so. There is no more insane “green” idea than offshore wind.
Land windmills
The best way to increase wind power in the USA would be tax credits for homeowners to build windmills on their property where it would be a supplemental energy source.
Of course the left opposes this because it doesn’t give them control and control is what it is really about.
The whales agree!
Bald eagles do not
Sierra Club Statement on Vineyard Wind Blade Incident.
“Millions of people around the world live and work near wind farms without issue. Globally there are approximately 12,000 operating offshore wind turbines.
Wind turbine blades’ protective coatings are non-toxic and the blades are specifically designed to have high resistance to weathering. Thousands of turbines all over the world have been constructed without incident, with more than a dozen turbines currently generating clean, reliable power to homes and businesses across the U.S”
No mention of the bird slaughter.
Now to deflect.
“Sierra Club Cape Cod & Islands Group Chair Chris Powicki added, “Some of us are old enough to remember 1976.”
https://www.sierraclub.org/press-releases/2024/07/sierra-club-statement-vineyard-wind-blade-incident
“Thousands of turbines all over the world have been constructed without incident, with more than a dozen turbines currently generating clean, reliable power”
Thousands built but only dozens generating power? What’s up with the other 8,427 of them? Doesn’t sound like a good return on investment to me.
Only a few of these turbines have been disasters. Like Venezuelan Gang Estates in CO.
A pack of half-truths and outright lies.
Aw.
They’re gonna get Keystoned.
It’s the adults’ turn now.
Get drilling as that is the key to reducing the cost of living EVERYWHERE!!
The cost of oil comes down, so does the cost of transport and making shit which means it’s cheaper to produce stuff people actually want, cheaper to get those things to where people are meaning people have more money left int their pockets to spend in the real economy (their local economy).
And Europeans say Americans are dumb 😂😂
When President Biden halted the Keystone pipeline, I knew that he was a puppet of those whose goals were only their own.
Whatever President Trump’s flaws, he is NOT a selfish man. Self-centered, perhaps;, but his agenda is truly to make America great again.
Self-assured. If Trump were self-centered he wouldn’t be risking his life.
I’m not up on international obligations and laws but I’m fairly certain that only Congress can ratify a treaty. Any other “agreement” or “obligation” a President signs on his own is only good until he leaves office if then. As far as I’m concerned, once Trump is sworn in, anything Brandon did can be reversed immediately. Such is the peril of ruling by Executive Order instead of using the House and Senate as our Constitution says.
But,…..some dopey Federal Judge will disagree
Does anyone really want this garbage renewable energy except maybe China, GE, or government actors and their climate grifter entourage?
These aren’t off-shore wind farms at all; they are TAX DOLLAR farms, which produce small amounts of unreliable energy.
Remove the vast subsidies, and wind energy will rise or fall based on its own economics, which to date have not included the cost of decommissioning these bladed monsters.
And of course, the Paris Accords are nothing but a formal admission of how the West plans to redistribute Western taxpayers money to the connected and the powerful via the green scam.
It will not, cannot and was never designed to do anything about their carbon footprint climate fantasies and thank heavens for that, because actually reducing carbon in the atmosphere would be devastating to wild plant life and agriculture.
And to all these insanities of the globalists and the greenies, Trump needs to just say “Make me.”
Any endeavor that requires gov’t subsidies to exist isn’t sustainable. Green energy should exist on its own. It doesn’t go away because media misinformation is promulgated by interests that grow rich on gov’t money or mandates. On a political note, The actions of the Biden/Harris admin over its term have supported these interests. From the Paris Accords to canceling pipelines. Good Riddance to Biden/Harris and their cronies.
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