Offshore Headwinds for Biden
By Allen Brooks -- March 23, 2023
“Last year, every offshore wind equipment manufacturer reported substantial financial losses as raw material costs, order delays, labor problems, and antiquated manufacturing plants overwhelmed their revenue gains. Correcting these problems necessitates higher equipment prices, reduced manufacturing capacity, and/or relocating to lower-cost countries. These steps can set back delivery times and delay project start-up dates. Developers are also finding that building Jones Act-compliant installation and support vessels are taking longer and costing more, further challenging their projects’ economics.”
On Day One, Joe Biden canceled the Keystone XL pipeline construction permit issued by the Trump administration, costing union jobs. He rejoined the Paris Agreement on Climate Change so John Kerry could have a job. It was no secret where this administration was heading.
Days later, Biden issued an Executive Order calling for the nation to build “a new American infrastructure and clean energy economy that will create millions of new jobs.”…
https://www.masterresource.org/offshore-windpower-issues/offshore-wind-issues-biden/
