Offshore wind project touted as ‘Bidenomics in action’ immediately shuttered due to ‘high inflation’ and ‘rising interest rates’
Yesterday Fox News reported that Orsted, a global energy company based in Denmark, had recently announced the immediate end to the development of not one but two planned wind depots off the coast of New Jersey. (As you can imagine I was thrilled—two less multi-billion dollar corporate projects, ones in which I would never willingly invest, for me to sponsor? This is a net positive.)
Now according to the article, these two projects, named Ocean Wind 1 and Ocean Wind 2, had long been in the making; the lease for OW1 had been granted by Barack Obama’s bureaucrats back in 2009, and finally received the construction go-ahead from Joe Biden’s troupe just a few months back in July, at which point a climate staffer made this announcement:
‘Today’s announcement gives the green light for construction of another. This project, off the coast of New Jersey, will supply enough energy on its own to power nearly half a million homes. This massive expansion in clean energy construction didn’t just happen. It’s not an accident. It’s Bidenomics in action. Big, bold, and building things,’ White House national climate adviser Ali Zaidi said on July 5.
‘Thanks to President Biden’s leadership, the United States will keep seizing opportunities for offshore wind and other clean energy technologies, strengthening our energy security and advancing our climate goals, all while creating good-paying jobs up and down the manufacturing supply chain,’ he continued.
Well, here’s where the poetic justice comes in:
The Denmark-based energy firm said its board of directors voted to ax [sic] its high-profile Ocean Wind 1 and Ocean Wind 2 twin projects in response to changing macroeconomic factors, including high inflation, supply chain bottlenecks and rising interest rates.
Yes, Bidenomics is finally working for me! (I mean that in the loosest sense.) Up until now, I’ve certainly not appreciated being enslaved in a system where my labor and wealth is stolen via congressional spending sprees, but this is a silver lining—shuttered garbage “green” projects? I couldn’t be happier. Who knows how much of our money was already handed over to Orsted in subsidies or grants, but at least this means I’ll be hemorrhaging less than Biden and his D.C. donkeys had hoped.