Author Topic: Murphy gives billion dollar bailout to foreign offshore wind farm company  (Read 500 times)

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Offline rangerrebew

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filed:  July 14, 2023 • New Jersey
Murphy gives billion dollar bailout to foreign offshore wind farm company 
Credit:  By Robert Walker | July 12, 2023 | shorenewsnetwork.com ~~

Translate:  FROM English | TO English

New Jersey has recently faced controversy and concerns over a decision to provide a $1 billion bailout to Ørsted, a Danish wind developer, for their offshore wind project. The move has drawn criticism from some politicians and sparked discussions about the cost implications for New Jersey ratepayers.

Under the agreement, New Jersey families and businesses have been experiencing increased electricity bills to support the development of offshore wind farms, detractors claim.

Ørsted was expected to reimburse ratepayers to offset the rising utility costs. However, the company reportedly threatened to abandon their offshore wind project unless they were allowed to retain the $1 billion bailout funds.

Critics, including Republican Senator Ed Durr and Senator Michael Testa, have raised concerns about the economic impact on New Jerseyans. They argue that the decision represents corporate welfare and that wind farm projects should not rely heavily on government subsidies.

https://www.wind-watch.org/news/2023/07/14/murphy-gives-billion-dollar-bailout-to-foreign-offshore-wind-farm-company/
The unity of government which constitutes you one people is also now dear to you. It is justly so, for it is a main pillar in the edifice of your real independence, the support of your tranquility at home, your peace abroad; of your safety; of your prosperity; of that very liberty which you so highly prize. But as it is easy to foresee that, from different causes and from different quarters, much pains will be taken, many artifices employed to weaken in your minds the conviction of this truth.  George Washington - Farewell Address

Offline rangerrebew

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I hope you Garden Staters are thrilled with your Governor! *****rollingeyes*****
The unity of government which constitutes you one people is also now dear to you. It is justly so, for it is a main pillar in the edifice of your real independence, the support of your tranquility at home, your peace abroad; of your safety; of your prosperity; of that very liberty which you so highly prize. But as it is easy to foresee that, from different causes and from different quarters, much pains will be taken, many artifices employed to weaken in your minds the conviction of this truth.  George Washington - Farewell Address