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United StatesEconomyOverlooked from the left4 days ago

Trump Erases Another $765 Million in Offshore Wind Leases

The Trump administration is canceling four offshore wind leases held by Invenergy LLC and refunding the company $765 million. The company will use the funds to invest in natural gas and geothermal projects in the western US.

June 17, 2026 at 4:00 PM UTC

The Trump administration is canceling four offshore wind leases held by Invenergy LLC and refunding the privately held company $765 million, according a person familiar with the matter, the latest move by the White House to block new offshore wind development.

Under a settlement with the Interior Department, Invenergy will use the funds to invest in natural gas as well as geothermal projects in the western US, said the person, who asked not to be identified discussing the decision before it’s officially announced.

Read the full article at Bloomberg News →

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Bloomberg NewsParty-aligned🔒Right4 days ago
Trump Erases Another $765 Million in Offshore Wind Leases

The Trump administration is canceling four offshore wind leases held by Invenergy LLC and refunding the company $765 million. The company will use the funds to invest in natural gas and geothermal projects in the western US.

Bias read (Right): The article frames the cancellation of offshore wind leases and the redirection of funds toward fossil fuel investments as a positive outcome, without providing counterpoints or emphasizing environmental or energy transition perspectives. This suggests a pro-fossil fuel and anti-renewable energy slp