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Oil giant Shell walks away from major New Jersey offshore wind farm
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.
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. 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. That can make these projects less attractive to investors, absent strong policy support, said Coco Zhang, vice president for environmental, social and governance research at ING.
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