By Jack Dini ——Bio and Archives--October 3, 2024

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East Coast

The Biden Administration has approved nine offshore wind projects. These propose building a total of 13 gigawatts of offshore wind capacity. However, only two of these projects are actually under construction or completed- Vineyard Wind, located off the coast of Massachusetts, and South Fork Wind, located near the coasts of Rhode Island and New York.(1)

South Fork Wind just came on line. This is a six hundred million dollar white elephant in the middle of the ocean, and it’s getting paid four hundred million of taxpayer money to do so.

So, what does the New York consumer get for all of this more than generous support? The consumer gets wind power costing four times as much as the current cost of power in New York.

Stop and consider. Even when the developer gets two thirds of the cost paid by the taxpayer, offshore wind power is still four times as expensive. And of course, that doesn’t even touch the cost of maintaining backup power for the times when there’s no wind. (1)

Many of the projects proposed prior to the pandemic have faced major setbacks. Some of the offshore wind farms in the US have actually been terminated as a result. One off the shore of New Jersey has been cancelled at a significant loss. Orsted, the Danish company responsible for the project, backed out on its development. Reportedly, Orsted lost about $5.6 billion worth of revenue in the process. (2)

Denmark’s Orsted, the worldwide leading offshore wind developer, recorded a $575 million loss in the second quarter. In part, the loss is the result of disappointing........

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