Legal Insurrection by Jody Stone 11/9/2024
While uncertainty remains, what is clear is that energy markets – especially the offshore wind industry, which relies heavily on government subsidies, will remain volatile.With Trump’s promise last May to end offshore wind construction on day one, his victory has the already troubled industry on edge. “We are going to make sure that that ends on day one,” Trump told supporters at his Wildwood, New Jersey rally in May. “I’m going to write it out in an executive order. It’s going to end on day one.”
Executives and insiders were already nervous at The American Clean Power Association annual meeting, held in New Jersey last week. “We have this conference in October every year and obviously a week before a federal election, that adds a certain amount of energy and uncertainty,” American Clean Power Association CEO Jason Grumet said.
Trump’s historic victory last Tuesday changed everything for Energy markets and Climate pundits, sending both reeling. Ørsted, the global leader in offshore wind, shares plunged in early morning trading on Wednesday. According to a Reuters report, the world’s largest offshore wind developer fell as much as 14 per cent.
More:
https://legalinsurrection.com/2024/11/trump-victory-deals-blow-to-offshore-wind-energy-agenda/
