A letter from Congressman Chris Smith (NJ) to Sec. Burgum is attached. Excerpt:
I am writing to advise you that Equinor, a Norwegian Energy multinational is planning to move forward with construction of its Empire Wind 1 project off the coast of New Jersey and New York as early as this April.
This is an alarming development and should not be allowed before the comprehensive review of offshore wind ordered by President Trump’s January 20th executive order is completed. The executive order states that the assessment is needed to review the many shortcomings of the Federal wind leasing process including, “potential inadequacies in various environmental reviews required by the National Environmental Policy Act.”
Meanwhile, Norwegian investors have expressed dissatisfaction with Equinor’s renewable energy ventures. This Norwegian article raises concerns about Empire Wind 1, saying the project “could become a new industrial scandal.”
Based on the respective financial performance of oil producers, I think it’s fair to say that investors aren’t attracted to those companies because of their wind projects.
Bud's Offshore Energy (BOE) 