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Power United States

Shell Walks Away From Major New Jersey Offshore Wind Farm (apnews.com) 130

An anonymous reader quotes a report from the Associated Press: In the first serious fallout from President Donald Trump's early actions against offshore wind power, oil and gas giant Shell is walking away from a major project off the coast of New Jersey. Shell told The Associated Press it is writing off the project, citing increased competition, delays and a changing market. "Naturally we also take regulatory context into consideration," spokesperson Natalie Gunnell said in an email.

Shell co-owns the large Atlantic Shores project, which has most of its permits and would generate enough power for 1 million homes if both of two phases were completed. That's enough for one-third of New Jersey households. It's unclear whether Shell's decision kills the project -- partner EDF-RE Offshore Development says it remains committed to Atlantic Shores. On his first day in office, Trump signed an executive order singling out offshore wind for contempt with a temporary halt on all lease sales in federal waters and a pause on approvals, permits and loans. Perhaps most of interest to Shell, the order directs administration officials to review existing offshore wind energy leases and identify any legal reasons to terminate them.

[...] The Biden administration approved plans to build the Atlantic Shores project in two phases in October, but construction has not begun. Oliver Metcalfe, head of wind research at BloombergNEF, said the partners are facing significant uncertainty about their lease, and other developers are watching what happens with Atlantic Shores closely. "We're in uncertain territory here," he added. [...] Robin Shaffer, president of Protect Our Coast NJ, said that without Shell's financial backing, it appears the project is "dead in the water." Shell is writing off a nearly $1 billion investment. It announced its decision on Thursday, as it reported a 16% decline in full-year earnings of $23.7 billion from $28.3 billion. Most of its business is oil and gas.

Shell Walks Away From Major New Jersey Offshore Wind Farm

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  • by rsilvergun ( 571051 ) on Friday January 31, 2025 @10:55PM (#65134161)
    They were pushed. The current administration took half a billion dollars at least, I mean that we know of, from big oil. They have gone out of their way to make wind a dead end by cutting off land leases and packing regulatory agencies with corrupt officials. There's too much uncertainty right now.

    The thing is nobody wants to produce more oil and gas because they're making plenty of money what they're producing now. So there's not going to be any drill baby drill.

    Your power bill is going up. Also your tax bill is probably going to double. You won't see it directly it'll be a national sales tax baked into every purchase you make. That money will be shifted into tax cuts for the billionaire buddies running the administration.

    I would plan on having at least 10 to 15,000 less money next year. Just remember, if you voted for the occurrence administration you voted for this. Don't fuck it up again. There's a small chance you're going to have a opportunity to fix things in 2 and then 4 years.
    • by Darinbob ( 1142669 ) on Friday January 31, 2025 @11:26PM (#65134199)

      Trump has a personal beef with wind power. That's why he's so obsessed with it and keeps telling lies to sway people about it. Basically they were trying to build a wind farm off the coast near his Scottish golf course (the one that nobody wanted). Trump tried to sue, and lost. Since then we've seen him obsess about it.

      He claims to be an expert on windmills, despite still calling them "windmills" :-) He's claimed that the noise causes cancer, that it ruins the environment, that it's the most expensive form of electricity generation, and that if the wind stops that electricity stops (he's never heard of mixing electricity sources on the same grid), and that it killed so many migratory builds (never mind that his administration later made a rule that it was ok to kill migratory birds as long as you didn't mean to).

      But none of that is why he originally opposed the wind farm, he opposed it merely because it looked ugly.

      Yes, Trump likes to obsess, and he likes to hold a grudge. All fine qualities in a political leader.

      • by rossdee ( 243626 )

        Don Quixote also tilted at windmills

      • I've always thought wind farms and solar panels look pretty cool and futuristic.

        • Yeah, this. The kind of people who say they're a blight on the landscape are also the kind of people who share pictures of muscle cars with hood bulges that make them look like they have a distention and totally fuck up the lines and say THEY DON'T MAKE UM LIKE THAT ANYMORE HOSS GOBBLESS. No shit, they looked misshapen and deformed, like their pollutant- and incest-altered relations.

          • Yeah, this. The kind of people who say they're a blight on the landscape are also the kind of people who share pictures of muscle cars with hood bulges that make them look like they have a distention and totally fuck up the lines and say THEY DON'T MAKE UM LIKE THAT ANYMORE HOSS GOBBLESS. No shit, they looked misshapen and deformed, like their pollutant- and incest-altered relations.

            Take a look in 40 years and see how many of today's cars are worth keeping.

            Hint, it will still be Mustangs and Camaros.

            • Take a look in 40 years and see how many of today's cars are worth keeping. Hint, it will still be Mustangs and Camaros.

              The classic Mustangs and Camaros were made of a lot of metal and upholstery. The modern ones are made of a lot of plastic inside. Mustangs and Camaros are both pretty impressive cars now, but I don't think very many modern vehicles at all are really going to stand the test of time like vehicles used to.

        • Same.

          It looks kind of majestic to see a few hundred wind turbines across the horizon.

      • Re: (Score:3, Interesting)

        by rsilvergun ( 571051 )
        He has nothing of the sort. He's just going after it because the oil companies ordered into. Now the reason the oil companies ordered him to is that people don't like the way wind farms look. While I personally think they have a super cool futuristic look most people hate them. And rich people especially hate having them offshore because they think it's spoils their view. A single US senator spent years blocking offshore wind farms back east.

        Trump doesn't hold a grudge because he can't think straight en
      • by e3m4n ( 947977 )

        If he hates windmills so much why hasnt the nickname Don Quixote stuck? A Lack of literature culture?

    • Re: (Score:2, Insightful)

      by kenh ( 9056 )

      iI thought wind was cheaper than the other options, so why do wind farm projects need federal money to move forward?

      If we're going to pretend it something the new administration did (in its first week!) that caused Shell to write-off millions in investments, perhaps Shell wasn't really interested in the project?

      Biden signed off on the plan in October, and Shell dropped it 4 months later, citing "delays", "competition" and a changing market.... perhaps when they realized they weren't going to get free money

      • Even ignoring the batteries and extra transmission needed, offshore wind is roughly as expensive as nuclear power in many areas. The variance is large based on wind speed and more importantly the depth you have to set the foundations at. Plus the ocean is dramatically harder on equipment, relative to a wind turbine in a corn field. There are some ongoing attempts to make cheaper turbines that float and are only loosely anchored, kind of like bouys with a windmill on them, but that's still early days and ha

      • by spitzak ( 4019 )

        Offshore wind is expensive. Land-based wind is in fact the cheapest way to generate power today.

        IMHO floating turbines will help reduce the price a lot. They would also get rid of the construction work which is the actual threat to marine life.

        • They would also get rid of the construction work which is the actual threat to marine life.
          Perhaps during construction.
          Afterwards it is a paradise for marine life. All kinds of muscles, shrimps and lobsters strive there.

      • Because they do not want to sell cheap power.
        They want to sell expensive power.

    • by Njovich ( 553857 ) on Saturday February 01, 2025 @05:34AM (#65134503)

      While I don't know the specifics of this project, people here seem to miss some context. Royal Dutch Shell was an anglo-Dutch company that was very involved in wind projects globally. During 2022 they moved officially to the UK, renamed to 'Shell' and in early 2023 the Dutch CEO was shitcanned and a new arab CEO was appointed - Wael Sawan. He wasted no time immediately starting to cut back on any green projects. You can find the employee calls to not do it in 2023: https://www.reuters.com/sustai... [reuters.com]

      Since then one after the other renewable energy project was scrapped. Big companies are like oil tankers, it takes a while to change direction. So we are still seeing these announcements left and right of shell cancelling some project. Here about cutting the unit in May: https://www.power-technology.c... [power-technology.com]

      While I'm sure that like many other companies the Trump election was the queue to take the mask off completely and quit any pretenses of loving earth or humans immediately, this was all part of a process already set in motion a while ago.

      • This! At least someone is paying attention. This announcement here would be the 4th mega wind project that Shell has either aborted or divested from in the past 3 years. The others were all in green energy friendly countries.

        The new CEO is on the record, Shell's green energy focus is almost exclusively on heavy industry and heavy mobility (reads: hydrogen and ammonia, with a smidgen of biofuels). The division responsible for wind energy went through massive staff cuts last year, most of the staff gone were

    • They were pushed. The current administration took half a billion dollars at least, I mean that we know of, from big oil.

      Yes they were pushed but not from the current administration. They were pushed by shareholders and the new CEO. Shell has walked away from about 4 major wind projects in the past 2 years (since the new CEO took over) including projects in places with wind / green energy happy governments like Ireland. They completely gutted their new energy division last year and announced that all focus on new energy would be on heavy mobility (reads: hydrogen / ammonia and not wind).

      The current administration in the USA i

    • by GrahamJ ( 241784 )

      Hopefully the orange idiot dies before then.

      I wish the assassin hadn't missed.

    • There's a small chance you're going to have a opportunity to fix things in 2 and then 4 years.

      Interesting. You think it is possible to fix this by voting. You just won't give up the delusion that the voting process has been entirely captured. Voting for the "other party" won't do shit. The "other party" circumvented all of its rules and bylaws to produce candidates that were certain to fail under the circumstances given... and yet we are to vote for them to fix the issue of corrupted government? Your naivety has become stupidity.

  • We are so screwed.

    • Well that depends on screwer or screwew, but I agree we are totally fouked either way.

      JoshK.

    • I guess it all depends on your perspective. Real estate a mile or so from the beach is cheap. If you're young and buy it now, you'll turn an amazing profit as sea levels rise. Probably most young people (those who have enough years left to realize the profit) would prefer to not trash the environment. But if that's not possible, might as well get rich.
      • You are looking at the landscape from a seat on an airplane that is flying through the air with every expectation of landing safely. If you look at it from the perspective of the same person just before it crashes with a Blackhawk and is about to go up in flames then you are looking at it from the correct perspective.
  • Then Wael Sawan will say he got trumped and "wants his life back." And then cry with $10-million in salary to the bank. Oils well that ends well...

    JoshK.

  • I love a good Trump bash, but this has nothing to do with Trump or even the USA government. For over a year there have been massive pressures placed on oil companies who were pushing a green agenda (most predominantly Shell and bp), not by governments, but by shareholders. Shell and bp were both massively trailing major oil company rivals in the stock market and investors were looking for blood. So blood they got.

    - Both Shell and bp recently replaced their CEOs, Shell end of 2022, bp end of 2023.
    - Shell bai

  • by Required Snark ( 1702878 ) on Saturday February 01, 2025 @05:08AM (#65134481)
    Claiming rational thinking from MAGA/Trump is like expecting thoughtful responses from a raging toddler. Rage, revenge and spite are what motivates their actions. No meaningful thinking about real world consequences is involved. It's all about mindless destruction and payback.

    Anyone who says this is OK chooses the blue pill. Those who think they are immune to real world results will be blindsided. The police and firefighters in New York are already finding that out because Trump wants to end funding for 9/11 first responders after they endorsed him. The energy companies who made rational plans including renewables and supported Republicans in any way are in the same situation.

    Not only is the economy going to take a nose dive, day to day existence will massively be degraded. Big chunks of the government will be shut down with no planning. The ripple effects will be enormous, and if combined with dumb-ass tariffs will break large segments of American life. Things will become radically dysfunctional sooner rather then later.

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