Forbes: “As is often the case when new technologies come to market, unintended downstream consequences are not always immediately obvious to the players. Enthusiasm for clean energy initially pushed the first wind turbines into existence in the U.S. without considering the environmental and monetary costs that would be involved in either upgrading or bringing projects to a close later in their life cycle. “
Similarly, BOEM’s enthusiasm for offshore wind projects has increased decommissioning financial assurance risks for power customers and taxpayers. Their “Rule to Streamline and Modernize Offshore Renewable Energy Development” is intended to “make offshore renewable energy development more efficient, [and] save billions of dollars.” The savings associated with relaxed financial assurance requirements come at the expense of transferring decommissioning risks to those who have received little or no financial benefit from the projects.
Related story: “Osage Tribe Wins Again, Federal Judge Orders “Ejectment” Of 84 Wind Turbines By Next December”
Bud's Offshore Energy (BOE) 