Offshore Trojan Horses
In July, the U.S. Department of Interior greenlighted large offshore wind farms in New Jersey and Maryland. Once the financial agreements are in place, New Jersey’s Atlantic Shores and Maryland’s Marwin and Momentum will join the two large wind farms in New York approved in June. These projects will receive huge, multibillion-dollar subsidies from the federal government and electricity ratepayers. What benefits will New Jersey and Maryland enjoy from this flood of money? To answer this question, it is best to recall the classic warning of the Trojan Horse legend, “Beware of Greeks bearing gifts”—in other words, the hidden dangers of accepting something that seems too good to be true. New York State ignored that warning when it agreed to pay very high prices for the electricity to be supplied from its new offshore wind farms—Empire Wind 1 and Sunrise Wind—located off the coast of Long Island. more, >>CLICK TO READ<< 07:37
Leave a Reply