US Interior Dept. Pays $1B to TotalEnergies for Fossil Fuel Projects
Raleigh News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
The U.S. Interior Department has agreed to reimburse TotalEnergies nearly one billion dollars for offshore wind leases, redirecting funds into oil, natural gas, and liquefied natural gas projects. This decision, criticized by North Carolina Governor Josh Stein and energy experts, is seen as a setback for clean energy options in the face of rising electricity demand. The Interior Department defends the move, citing the unpredictability and expense of offshore wind, while utilities like Duke Energy pause projects due to cost concerns. This could lead to higher bills for consumers as the energy debate intensifies.
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