Trump admin dumps Biden-era wind projects for billion-dollar investment in US oil [FOX Business Network]
TotalEnergies SE Ordinary Shares (TTE)
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Source: FOX Business Network
FIRST ON FOX: The Trump Department of the Interior secured a landmark agreement with energy giant TotalEnergies to redirect nearly $1 billion away from "unreliable" and "ideological" wind farm projects approved under the Biden administration and instead invest in U.S. oil and natural gas as part of the president's "energy dominance agenda." Secretary Doug Burgum announced the agreement with TotalEnergies on Monday at the CERAWeek conference, an annual gathering of global oil and energy leaders in Houston. TotalEnergies is renouncing its U.S. offshore wind leases and instead investing a total of $928 million in oil, natural gas and liquefied natural gas production in the U.S., according to the department. Additionally, after the department paused all leases for large-scale offshore wind projects under construction in the U.S. due to "national security risks," TotalEnergies has pledged not to develop any new offshore wind projects in the country. Ticker Security Last Change
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- French company stops US offshore wind projects in $1B deal with Trump administration 1 / 2 [Yahoo! Finance Canada]Yahoo! Finance Canada
- French company stops US offshore wind projects in $1B deal with Trump administration [Yahoo! Finance]Yahoo! Finance
- Trump Administration to Pay $1 Billion to Energy Giant to Cancel Wind Farms [The New York Times]The New York Times
- US, TotalEnergies reach 'nearly $1 bn' deal to end offshore wind projects [Yahoo! Finance]Yahoo! Finance
- Trump administration, energy developer announce end of U.S. offshore wind projects [Yahoo! Finance]Yahoo! Finance
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