Offshore wind projects may be cancelled in NJ, according to report

August 31, 2023 Featured, Mid Atlantic, National, New England

Already facing a series of lawsuits and opposition from state and local officials, Danish wind power developer Orsted is reporting huge financial losses. Those losses, company officials warned, could reach $2.3 billion in the U.S and may force the cancellation of projects of the New Jersey coast. In a conference call with investors, Orsted CEO Mads Nipper told them, “If the walk-away scenario is the economical, rational decision for us, then this remains a real scenario for us.” Orsted is considering “walking away” from or cancelling projects in New Jersey, New York, Rhode Island, Connecticut and Maryland. >>click to read<< 08:48

Connecticut, considering "walking away", Governor Phil Murphy, Maryland, may be cancelled, New Jersey, new-york, offshore wind farms, Offshore wind projects, or cancelling projects, Rhode Island, Ørsted

One Response to Offshore wind projects may be cancelled in NJ, according to report

Brick Wenzel says:

September 2, 2023 at 4:55 pm

World news “Germany” you need to translate the Orsted interview; Orsted is not walking away from the three Industrial Offshore Wind Energy Development sites off New Jersey that they have invested in. They just pointed out that the return on investment has dropped to 17% which is within monetary guidance parameters. They will be seeking an additional $2 billion from the USA federal governmant (Taxpayers) to help offset expences to increase profit margins.

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The New England groundfish debacle (Part III): who or what is at fault? Nils E. Stolpe/FishNet

It took me a while to decide how to most accurately describe the situation that has been visited upon the New England fishing communities that are and since colonial times have been dependent on the groundfish fisheries.

NILS STOLPE: The New England groundfish debacle (Part IV): Is cutting back harvest really the answer?

While it’s a fact that’s hardly ever acknowledged, the assumption in fisheries management is that if the population of a stock of fish isn’t at some arbitrary level, it’s because of too much fishing. Hence the term “overfished.” Hence the mandated knee jerk reaction of the fisheries managers to not enough fish; cut back on fishing. What of other factors? They don’t count. It’s all about fishing, because fishing is all that the managers can control; it’s their Maslow’s Hammer. When it comes to the oceans it seems as if it’s about all that the industry connected mega-foundations that support the anti-fishing ENGOs with hundreds of millions of dollars a year in “donations” are interested in controlling. Read the article here

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