Yep, it is SO poised right on the edge of success that they cancelled the project.
Posted on 11/03/2023 6:54:02 PM PDT by The_Media_never_lie
BOSTON – October 31, 2023 – Following a decision by its Board of Directors, Ørsted will cease development of the Ocean Wind 1 and Ocean Wind 2 projects and has taken final investment decision (FID) on the Revolution Wind project.
“Macroeconomic factors have changed dramatically over a short period of time, with high inflation, rising interest rates, and supply chain bottlenecks impacting our long-term capital investments,” said David Hardy, Group EVP and CEO Americas at Ørsted. “As a result, we have no choice but to cease development of Ocean Wind 1 and Ocean Wind 2. We are extremely disappointed to have to take this decision, particularly because New Jersey is poised to be a U.S. and global hub for offshore wind energy. I want to thank Governor Murphy and NJ state and local leaders who helped support these projects and continue to lead the region in developing American renewable energy and jobs.”
(Excerpt) Read more at us.orsted.com ...
If major green energy projects are planned, and suddenly the macroeconomics of the projects change to make the projects uneconomical, then what does that tell us about this form of energy? Was it ever economical to build this?
Yes, it’s hitting a brick wall called “reality”.
CC
the right people already got paid, so...
...” I want to thank Governor Murphy and NJ state and local leaders {AND THE TAXPAYING SCHMUCKS IN N.J.} who helped support these projects and continue to lead the region in developing American renewable energy and jobs.”
We sincerely enjoyed those $250.00 lunches and the free trips to exotic places where we deliberated how best to SQUANDER your hard-earned tax dollars!
And in the immortal words of Aahnold: We’ll be baaack!
Yep, it is SO poised right on the edge of success that they cancelled the project.
It’s a good start.
It would appear that the long term profit margins have evaporated thanks to and in no small way Bidenomics and democRat policy.
If USA voters had an average 3-digit IQ there would be a 48 state sweep for the Rs next year. But as we all know that average has dropped with every generation for the last 2 or 3.
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