The administration of Donald Trump has agreed to pay nearly $1bn in taxpayer funds to French energy firm TotalEnergies in exchange for abandoning planned offshore wind projects in the United States.

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The deal marks a significant shift in policy, with the government effectively compensating a company to halt renewable energy developments before construction begins.

Wind Projects Scrapped

The payment will reimburse TotalEnergies for federal leases it purchased to develop two offshore wind farms off the coasts of New York and North Carolina. The funds will be issued through the US Department of Justice.

Together, the projects had the potential to generate more than four gigawatts of electricity, enough to supply large numbers of homes and businesses.

Instead, the company said it would redirect investment towards fossil fuel developments in the US, including a liquefied natural gas facility in Texas, oil drilling in the Gulf of Mexico and shale projects elsewhere.

TotalEnergies chief executive Patrick Pouyanné said the decision reflected the administration’s stance that offshore wind was not in the country’s interest.

Policy Shift on Renewable Energy

The agreement follows earlier action by the Interior Department, led by Doug Burgum, which halted approvals for new renewable energy permits. That move effectively stalled offshore wind projects in early development stages.

Officials have argued that offshore wind is costly and less reliable than other forms of energy. Burgum said the focus should instead be on “dependable” power sources to reduce costs for consumers.

However, critics point out that wind energy does not rely on fuel and can offer stable pricing compared with fossil fuels, whose costs fluctuate.

Concerns Over Energy Supply

The decision has raised concerns among energy experts about future electricity supply, particularly as demand rises from data centres, electrification and population growth.

Elizabeth Klein, who previously led offshore energy management efforts under the Biden administration, warned that cancelling the projects could deepen energy shortages and drive up prices, especially along the US East Coast.

Industry groups also criticised the move, arguing that removing planned renewable capacity could increase costs for consumers at a time when energy prices are already under pressure.

Wider Industry Implications

The settlement may set a precedent for other developers. Several companies have indicated they could seek reimbursement if prevented from proceeding with offshore wind projects.

Among them is RWE, which has invested heavily in offshore wind leases in US waters.

The total value of undeveloped offshore wind leases across US coasts exceeds $5bn, raising the prospect of further payouts if similar agreements are reached.

Uncertainty Ahead

It remains unclear whether additional deals are under discussion. The Interior Department has not confirmed whether negotiations are ongoing with other firms.

The agreement highlights the administration’s broader shift away from renewable energy in favour of fossil fuel development, a move that supporters say will strengthen energy security but critics argue could undermine long-term supply and pricing stability.

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Adapted by ASEAN Now. Source 24 March 2026

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This latest move just underlines how far off course the U.S. has drifted on energy policy.

Paying $1 billion of taxpayer money not to build clean power projects that could have delivered over 4 GW of stable, fuel‑free electricity.

It is the kind of backwards logic only this administration could defend.

Meanwhile, China is racing ahead with record-breaking renewable installations every year, locking in long‑term energy security while the U.S. voluntarily stalls itself in the fossil‑fuel era.

It’s hard to imagine a clearer contrast: one superpower investing in the future, the other paying to cancel it.

Money for nothing

Looks like the USA will have to pay through the nose for carbon based fuels.

Doesn't anyone in government believe in diversifying sources of energy?

Another subsidy to the Fossil Fuels Industry.

Our tax dollars at work. He doesn't care. It's not his money.

The great business man at it again.

Our 1 Billion "borrowed" tax dollars at work!

22 hours ago, Jim Waldron said:

This latest move just underlines how far off course the U.S. has drifted on energy policy.

Paying $1 billion of taxpayer money not to build clean power projects that could have delivered over 4 GW of stable, fuel‑free electricity.

It is the kind of backwards logic only this administration could defend.

Meanwhile, China is racing ahead with record-breaking renewable installations every year, locking in long‑term energy security while the U.S. voluntarily stalls itself in the fossil‑fuel era.

It’s hard to imagine a clearer contrast: one superpower investing in the future, the other paying to cancel it.

This post nails it.

As Everett Dirksen, a Republican senator once famously said, "A billion here, a billion there, and pretty soon you're talking about real money." One of Trump's campaign lies was to reduce the deficit. Instead, it just blew past 39 trillion. That's trillion with a 'T'. A trillion here, a trillion there, what does old Trump care what he is leaving the next generations. As for the wind project cancellation, really dumb, like everything else Trump does.

Saved the taxpayer trillions.

All because he doe not like what he calls "windmills " , the reason he

hates them is because ,a company built some in the sea off his golf

course in Scotland , and to him it spoiled the view ,he fought hard

to stop them been built ,but as normal he lost ....what a loser .

regards Worgeordie

12 hours ago, jchfriis said:

The great business man at it again.

12 hours ago, jchfriis said:

The great business man at it again.

On 3/21/2026 at 7:28 AM, blaze master said:

What size should be the limit ? I had a KTM duke 390 that ripped.

11 minutes ago, TRAMBOUZE said:

12 hours ago, jchfriis said:

The great business man at it again.

12 hours ago, jchfriis said:

The great business man at it again.

On 3/20/2026 at 8:28 PM, blaze master said:

Trying to comment is tough at times. I started a thread for exactly what just happened to you here 😆

Good for France. But what is scary that France like other western european nations are taking this absurd path of windmills all over the oceans and destroying the marine life. Nuclear power is the sole alternative. Even us absurd germans or the UK have had to open up the aging petroleum running or coal running power plants to supply the high demand. All this because some foolishly decided one fine morning to abolish nuclear energy developpement. Poor Europe...

3 minutes ago, Sigmund said:

But what is scary that France like other western european nations are taking this absurd path of windmills all over the oceans and destroying the marine life.

Are you sure about that. Did Trump tell you this?

1 minute ago, CallumWK said:

Are you sure about that. Did Trump tell you this?

A similar type of very factual looking "study", from renowned european leftist universities science labs, claimed for ages that passive smoking.....passive smoking that is, was not hazardous to the health. Turned out that it was Philip Morris that was funding the "studies". And further behind the ages, very factual scientific studies of those eras, claimed that the earth was flat and anybody daring to claim the earth was more of a spheric shape, was immediately tagged as a sorcerer or a complotist. Sorry. 🙏. Have a nice evening.