Tag Archives: New York Governor Kathy Hochul
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
Biden-Harris Administration Sets Offshore Energy Records with $4.37 Billion in Winning Bids for Wind Sale
The Department of the Interior announced the results of the nation’s highest-grossing competitive offshore energy lease sale in history, including oil and gas lease sales, with the New York Bight offshore wind sale. These results are a major milestone towards achieving the Biden-Harris administration’s goal of reaching 30 gigawatts of offshore wind energy by 2030. Today’s lease sale offered six lease areas totaling over 488,000 acres in the New York Bight for potential wind energy development and drew competitive winning bids from six companies totaling approximately $4.37 billion. >click to read< 08:15
