Internal docs show Biden admin waived taxpayer safeguards to boost offshore wind project [FOX News]
Avangrid, Inc. (AGR)
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Source: FOX News
close The Biden administration quietly granted a request from an energy firm developing an offshore wind project off the coast of Massachusetts to waive development fees designed to safeguard taxpayers, according to internal documents reviewed by Fox News Digital. The Bureau of Ocean Energy Management (BOEM) informed Vineyard Wind that it had waived a financial assurance for decommissioning costs fee in a June 15, 2021, letter obtained by watchdog group Protect the Public's Trust (PPT). Federal statute mandates that developers pay that fee prior to construction on their lease, a potentially hefty fee designed to guarantee federal property is returned to its original state after a lessee departs its lease. "At the same time the Department of the Interior was looking at forcing greater and more expensive bonding requirements on holders of long-standing oil and gas leases, they were relaxing these requirements on the nation's first utility-scale offshore wind energy producer, one
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