Trump Pays Billions to Companies... To Not Build Wind Farms?
In a wild twist of fiscal policy, the government is cutting massive checks to energy firms just to keep them from building offshore wind projects.
So, here is the latest headache from Washington. The Trump administration has decided that the best way to handle offshore wind energy is to simply pay companies not to build it. We are talking about nearly $4 billion in taxpayer money flowing out of the Judgment Fund.
Normally, this fund is for court settlements, but here, there are no lawsuits—just a series of creative, unofficial agreements. One French company, TotalEnergies, even got a billion-dollar payout just to pack up their wind plans and shift their focus to drilling for oil in Texas instead.
The government is essentially paying private companies billions in taxpayer cash to do absolutely nothing. There is no legal precedent for this. Usually, if a company gets cold feet on a lease, they just lose their investment. Now, they get a payday funded by your tax dollars.
It turns out that when you want to kill an industry, it is much more expensive than just letting the market work. The only people winning here are the ones collecting the checks for standing still.
Source: UPI
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