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US and TotalEnergies reach 'nearly $1B' deal to end offshore wind projects

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Re: US and TotalEnergies reach 'nearly $1B' deal to end offshore wind projects

#91

Post by IshKebab »

angelgonzales wrote: post #79

This seems like a good thing considering the “TotalEnergies CEO Pouyanné said offshore wind was "not the most affordable way to produce electricity" in the US, which he identified as being natural gas-fired power plants.” Not sure why we’re building offshore wind plants when land based gas plants provide cheaper energy. We need to be reducing the cost of living for working people and not raising it. Our goal should b…

Uhm, I dunno if you just time travelled here from the 60s but there's this thing called global warming.

Re: US and TotalEnergies reach 'nearly $1B' deal to end offshore wind projects

#92

Post by munk-a »

0cf8612b2e1e wrote: post #21
gmueckl wrote: post #12

Do I have it right that the two projects that this deal kills off haven't seen any construction work yet? These aren't among the projects that the stop work orders were issued against in December, right?

My quick skim, I think you are right. This is getting them to halt new development, by buying them off with the equivalent of the subsidies the current administration cancelled.

What an amazing deal. We get nothing and the contractors we negotiated with get money for it!

Truly, the deals this administration crafts are nonpareil!

Re: US and TotalEnergies reach 'nearly $1B' deal to end offshore wind projects

#93

Post by Barrin92 »

ecshafer wrote: post #6
adriand wrote: post #2

Fortunately, fossil fuels are a stable and geopolitically risk-free source of energy.

The US (with Canada and Mexico) is self-sufficient with fossil fuel energy.

I do find the slow Sovietization of America funny, both mentally and economically. The year is 2050, autarky on energy has been established, the markets cut off, politics in the hands of erratic and geriatric leaders. Americans proudly drive 30 year old Fords the way people used to drive Ladas, while China exports green energy, cars and infrastructure to the world.

Re: US and TotalEnergies reach 'nearly $1B' deal to end offshore wind projects

#94

Post by forgetfreeman »

JumpCrisscross wrote: post #43
throwway120385 wrote: post #35

Earlier quoted context omitted.

This might surprise you, but only a minority of eligible voters vote. So while it looks like 50% of people believe this is a good strategy and we should do it based on the percentage of people who voted for Trump, in reality a minority of people in the US believe this is good. The problem is that few of those people vote. So in all seriousness, if we could get a significant fraction of the young people who are negati…

> if we keep telling them everyone believes in this stuff and your vote doesn't count and so on I don’t know if you can fix lazy. Turning out new voters basically happens once a generation. The rest tell themselves tales that their vote could never matter, and in doing that, subtly endorse the status quo .

Your comment is extremely reductionist and reverses causality for a large number of voters. Both political parties have multi-decade track records of aggressively supporting pro-corporate political agendas at the expense of their constituency. So in light of literal decades of watching prospects decline regardless of which party is currently in power many voters (correctly) conclude that their vote will not lead to meaningful change.

Re: US and TotalEnergies reach 'nearly $1B' deal to end offshore wind projects

#95

Post by munk-a »

bryanlarsen wrote: post #15
idle_zealot wrote: post #9

Earlier quoted context omitted.

Sure, if we build out refining capacity for the next ten years. Then we're golden until we run out of the finite well of combustible dead algae. So if you think we can revitalize American manufacturing and resource processing starting now, and you're okay with those investments being worthless in a few decades, and you don't give a shit about rendering the planet significantly less habitable to human life, then yeah,…

Alberta tar sands have hundreds of years worth of reserves. They're also expensive and incredibly dirty to extract and emit significantly more CO2 during processing than a light oil well will. (The tar is usually melted by heating with natural gas). I'm quite confident cheap renewable alternatives will make the tar sands inviable far before they run out.

Some good news though, with the war in Iran the spiking oil price means that Albertan executives can ramp up operations and stay quite profitable! Push the price to 200/barrel and we'll just strip mine the entire province after airlifting out Calgary and Edmonton.

Re: US and TotalEnergies reach 'nearly $1B' deal to end offshore wind projects

#97

Post by angelgonzales »

IshKebab wrote: post #91
angelgonzales wrote: post #79

This seems like a good thing considering the “TotalEnergies CEO Pouyanné said offshore wind was "not the most affordable way to produce electricity" in the US, which he identified as being natural gas-fired power plants.” Not sure why we’re building offshore wind plants when land based gas plants provide cheaper energy. We need to be reducing the cost of living for working people and not raising it. Our goal should b…

Uhm, I dunno if you just time travelled here from the 60s but there's this thing called global warming.

[flagged]

Re: US and TotalEnergies reach 'nearly $1B' deal to end offshore wind projects

#98

Post by cwal37 »

Ajedi32 wrote: post #71

HN title (currently reads "US govt pays TotalEnergies nearly $1B to stop US offshore wind projects") is editorialized and it's unclear to me whether it's accurate. The article says: > We're partnering with TotalEnergies to unleash nearly $1 billion that was tied up in a lease deposit that was directed towards the prior administration's subsidies What's the deal with this lease deposit and how does "freeing it up" equ…

You could go to the source and see[1].

> TotalEnergies has committed to invest approximately $1 billion—the value of its renounced offshore wind leases—in oil and natural gas and LNG production in the United States. Following their new investment, the United States will reimburse the company dollar-for-dollar, up to the amount they paid in lease purchases for offshore wind. Under this innovative agreement driven by President Donald J. Trump’s Energy Dominance Agenda, the American people will no longer pay for ideological subsidies that benefited only the unreliable and costly offshore wind industry.

> For its part, TotalEnergies will invest $928MM, on the following projects in 2026:

The development of Train 1 to 4 of Rio Grande LNG plant in Texas; The development of upstream conventional oil in Gulf of America and of shale gas production. Following TotalEnergies’ $928 million in investments in affordable, reliable and secure U.S. energy projects, the United States will terminate the following leases and reimburse the company

[1] https://www.doi.gov/pressreleases/interior-and-totalenergies...

Re: US and TotalEnergies reach 'nearly $1B' deal to end offshore wind projects

#99

Post by tonfa »

kakacik wrote: post #80
tsunamifury wrote: post #72

Earlier quoted context omitted.

Please list the more serious and stable country if America collapses. I’ll wait. On a serious note; I’m looking at my billion dollar neighbors and they all just are citizens everywhere now. No allegiance to anything but their own pleasure.

Lol thats trivial if you actually know history and politics a tiny bit - Switzerland. 800 years of most free citizens in the world (lost that armed part but still valid for whole Europe with maybe Finland having similar numbers). Salaries in tech sector still give you higher overall quality of life than most of US can ever offer. Then you have - extremely beautiful nature at your doorstep, more top notch destinations…

> very good free healthcare

Quite a few swiss residents would be happy to have this (or at least some more cost control).

There's mandatory health insurance with preexisting condition coverage, but it's not free (tho it's partially tax supported, depending on location and income).

Re: US and TotalEnergies reach 'nearly $1B' deal to end offshore wind projects

#100

Post by follie »

jwr wrote: post #28
ecshafer wrote: post #6

Earlier quoted context omitted.

The US (with Canada and Mexico) is self-sufficient with fossil fuel energy.

Unfortunately, we share the planet and the atmosphere with it.

If the US taunts someone into a nuclear war, the rest of us get to live but should be investing more in cancer research.
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