Trump despises wind farms so much he's paying a French energy giant $1 billion to stop building them

Key Points:

• TotalEnergies and the U.S. Interior Department reached an agreement for the federal government to reimburse the company approximately $928 million for investments in offshore wind projects near New York and North Carolina, which were halted after President Trump’s election.
• TotalEnergies CEO Patrick Pouyanné emphasized a pragmatic approach, stating the company will abandon offshore wind projects in the U.S. due to their size and cost without federal subsidies, instead focusing on onshore wind, solar, and battery storage.
• The agreement highlights TotalEnergies’ continued commitment to natural gas investments, including stakes in NextDecade’s Rio Grande LNG project, Gulf of Mexico production, and U.S. shale drilling.
• U.S. Interior Secretary Doug Burgum expressed support for natural gas projects over intermittent wind farms, criticizing expectations of federal subsidies for renewable energy under the Trump administration’s policies.
• The deal reflects the broader political stance favoring fossil fuels over renewable energy expansion, with President Trump opposing offshore wind development due to aesthetic concerns and policy preferences.