Energy firms have slowed construction of offshore wind farms in the U.S. for various reasons in recent years, including, most recently, opposition from U.S. President Donald Trump’s administration.
Offshore wind was a key pillar of former President Joe Biden’s promise that fighting climate change will create jobs and invigorate the economy. In 2023 and 2024, however, several offshore wind companies took billions in write-offs, impairments and other cancellation fees after determining they could no longer complete projects profitably due to rocketing construction costs, higher interest rates and supply chain snags.
Source : Reuters
Global imbalances are back in the policy debate. This column examines 70 current account adjustment…
Climate-driven displacement is widely expected to push millions across international borders. Drawing on monthly bilateral…
Europe has devoted substantial resources to fostering innovation and AI diffusion, through both centralised EU…
Climate-driven displacement is widely expected to push millions across international borders. Drawing on monthly bilateral…
Central banks are rethinking reserve portfolios as geopolitical fragmentation raises concerns about the accessibility of…
The rapid expansion of high-speed internet has intensified concerns about how digital technologies affect early…