Trump admin pays nearly $1 billion to kill offshore wind projects

The Trump administration announced Monday it will pay French energy firm TotalEnergies $928 million to cancel offshore wind farm leases off the New York and North Carolina coasts.

TotalEnergies will reinvest the reimbursement into oil and gas projects, including a liquefied natural gas export facility in Texas.

The canceled projects would have powered over 1 million homes.

Trump has repeatedly vowed to block offshore wind development despite East Coast states' reliance on such projects for future energy needs.