DeFi Daily News
Tuesday, July 7, 2026
Advertisement
  • Cryptocurrency
    • Bitcoin
    • Ethereum
    • Altcoins
    • DeFi-IRA
  • DeFi
    • NFT
    • Metaverse
    • Web 3
  • Finance
    • Business Finance
    • Personal Finance
  • Markets
    • Crypto Market
    • Stock Market
    • Analysis
  • Other News
    • World & US
    • Politics
    • Entertainment
    • Tech
    • Sports
    • Health
  • Videos
No Result
View All Result
DeFi Daily News
  • Cryptocurrency
    • Bitcoin
    • Ethereum
    • Altcoins
    • DeFi-IRA
  • DeFi
    • NFT
    • Metaverse
    • Web 3
  • Finance
    • Business Finance
    • Personal Finance
  • Markets
    • Crypto Market
    • Stock Market
    • Analysis
  • Other News
    • World & US
    • Politics
    • Entertainment
    • Tech
    • Sports
    • Health
  • Videos
No Result
View All Result
DeFi Daily News
No Result
View All Result
Home Markets Stock Market

rewrite this title Trump allows New York offshore wind project after apparent gas pipeline compromise with state

Spencer Kimball by Spencer Kimball
May 20, 2025
in Stock Market
0 0
0
rewrite this title Trump allows New York offshore wind project after apparent gas pipeline compromise with state
0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on Telegram
Listen to this article


rewrite this content using a minimum of 1000 words and keep HTML tags

File: The wind farm in the Baltic Sea 35 kilometres northeast of Rügen is a joint venture of the Essen-based energy group Eon and the Norwegian shareholder Equinor.

Bernd Wüstneck | Picture Alliance | Getty Images

Norwegian energy company Equinor will resume construction on its offshore wind farm in New York, after the Trump administration lifted its order to halt work on the project.

Empire Wind 1 will be the first offshore wind project to deliver electricity directly to New York City. The Interior Department under the Biden administration approved the project last year after Equinor signed a lease issued by the department in 2017.

But Interior Secretary Doug Burgum ordered construction on Empire Wind to stop on April 16, alleging the Biden administration rushed the project’s approval “without sufficient analysis or consultation among the relevant agencies as relates to the potential effects.”

The stop-work order had raised fears among investors that the White House might target other wind projects that had already been permitted and approved.

New York Gov. Kathy Hochul said Monday evening that Burgum and President Donald Trump agreed to lift the stop-work order and allow the project to move forward “after countless conversations with Equinor and White House officials.” Empire Wind supports 1,500 union jobs, Hochul said.

Equinor said it aims to execute planned installation activities this year and minimize the impact of the stop-work order in order to reach its goal of starting commercial operations in 2027.

Apparent natural gas compromise

Burgum said he was encouraged by Hochul’s “willingness to move forward on critical pipeline capacity.”

“Americans who live in New York and New England would see significant economic benefits and lower utility costs from increased access to reliable, affordable, clean American natural gas,” the Interior secretary said in a post on social media platform X.

Hochul did not mention natural gas in her statement, though she “reaffirmed that New York will work with the Administration and private entities on new energy projects that meet the legal requirements” under state law. New York has a history of opposing new natural gas pipelines.

Trump has targeted the wind industry, despite his agenda calling for the U.S. to achieve energy dominance. The president issued an executive order on his first day in office that barred new leases for offshore wind in U.S. waters and ordered a review of leasing and permitting practices.

Trump has a long history of attacking wind turbines, arguing that they kill birds and cost more than they generate in revenue. He posted more than 150 times about wind across Twitter, X and Truth Social since 2012, according to a CNBC review of his posts.

Empire Wind 1 started construction in the spring of 2024 and is more than 30% complete. Equinor has invested $2.5 billion in the project so far. The company is planning to build 54 turbines that are up to 910 feet tall. Empire Wind 1 will generate 810 megawatts of electricity, which is enough to power half a million homes, according to Equinor.

Equinor Chief Financial Officer Torgrim Reitan called the Trump administration’s order to stop work unlawful, extraordinary and unprecedented during the company’s first-quarter earnings call on April 30.

“We have complied with this order. However, the order did not include any information about the alleged deficiencies in the approval,” Reitan said.

Three other offshore wind projects are under construction in the U.S. all located on the Eastern Seaboard. They are Revolution and Sunrise Wind in New England and Coastal Virginia Offshore Wind.

Dominion Energy is confident Coastal Virginia Offshore Wind will continue to move forward, CEO Robert Blue said on the company’s May 1 earnings call. It is 55% complete and will deliver electricity in early 2026, Blue said.

Orsted remains fully committed to Revolution and Sunrise Wind, CEO Rasmus Errboe said on the company’s May 7 earnings call. Revolution and Sunrise are about 75% and 35% complete respectively, Errboe said.

CNBC’s Gabriel Cortés contributed to this report.

Catch up on the latest energy news from CNBC Pro:

and include conclusion section that’s entertaining to read. do not include the title. Add a hyperlink to this website http://defi-daily.com and label it “DeFi Daily News” for more trending news articles like this



Source link

Tags: ApparentCompromiseGasOffshorepipelineProjectrewriteStatetitleTrumpwindYork
ShareTweetShare
Previous Post

You CANNOT put hands on an ICE agent!: Homan

Next Post

rewrite this title Reppo Launches World’s First Liquid Node Sale, Pioneering Decentralized Data Infrastructure

Next Post
rewrite this title Reppo Launches World’s First Liquid Node Sale, Pioneering Decentralized Data Infrastructure

rewrite this title Reppo Launches World’s First Liquid Node Sale, Pioneering Decentralized Data Infrastructure

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Search

No Result
View All Result
  • Trending
  • Comments
  • Latest
rewrite this title Will the Next Bilt Credit Card Please Stand Up? – NerdWallet

rewrite this title Will the Next Bilt Credit Card Please Stand Up? – NerdWallet

March 18, 2025
rewrite this title Ethereum Faces Bearish Pressure As Sentiment Hits 12-Month Low – Can ETH Avoid Dropping Below ,000? | Bitcoinist.com

rewrite this title Ethereum Faces Bearish Pressure As Sentiment Hits 12-Month Low – Can ETH Avoid Dropping Below $2,000? | Bitcoinist.com

March 1, 2025
Joe Rogan Experience #2467 – Michael Pollan

Joe Rogan Experience #2467 – Michael Pollan

March 12, 2026
Trump announces 25% tariff on India, pending home sales fall, Oppenheimer boosts S&P target to 7,100

Trump announces 25% tariff on India, pending home sales fall, Oppenheimer boosts S&P target to 7,100

July 30, 2025
How will the Fed cope with Trump’s tariffs? A former Fed president shares her take.

How will the Fed cope with Trump’s tariffs? A former Fed president shares her take.

April 3, 2025
rewrite this title and make it good for SEOMinnesota to hold recreational retail license lottery on Tuesday

rewrite this title and make it good for SEOMinnesota to hold recreational retail license lottery on Tuesday

July 18, 2025
rewrite this title 25 Halloween Decorations That Don’t Look Like A Party Store Exploded – Penny Pinchin’ Mom

rewrite this title 25 Halloween Decorations That Don’t Look Like A Party Store Exploded – Penny Pinchin’ Mom

July 7, 2026
rewrite this title and make it good for SEO Vitalik Buterin Outlines Lean Ethereum Path for Lighter Consensus, Validator Privacy

rewrite this title and make it good for SEO Vitalik Buterin Outlines Lean Ethereum Path for Lighter Consensus, Validator Privacy

July 7, 2026
rewrite this title Payward Europe EMI License Highlights Kraken’s Regulated Fiat-Rail Expansion

rewrite this title Payward Europe EMI License Highlights Kraken’s Regulated Fiat-Rail Expansion

July 6, 2026
rewrite this title Taylor Swift Included A Touching Shoutout To Travis Kelce’s Character In High School In ‘Emotional’ Wedding Vows! – Perez Hilton

rewrite this title Taylor Swift Included A Touching Shoutout To Travis Kelce’s Character In High School In ‘Emotional’ Wedding Vows! – Perez Hilton

July 6, 2026
rewrite this title USA 1-4 Belgium: Co-hosts crash out after Balogun controversy

rewrite this title USA 1-4 Belgium: Co-hosts crash out after Balogun controversy

July 6, 2026
rewrite this title South Korea’s Supreme Court Expands Bitcoin Seizure Powers, With October Rollout Set to Speed Claims

rewrite this title South Korea’s Supreme Court Expands Bitcoin Seizure Powers, With October Rollout Set to Speed Claims

July 6, 2026
DeFi Daily

Stay updated with DeFi Daily, your trusted source for the latest news, insights, and analysis in finance and cryptocurrency. Explore breaking news, expert analysis, market data, and educational resources to navigate the world of decentralized finance.

  • About Us
  • Blogs
  • DeFi-IRA | Learn More.
  • Advertise with Us
  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us

Copyright © 2024 Defi Daily.
Defi Daily is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Cryptocurrency
    • Bitcoin
    • Ethereum
    • Altcoins
    • DeFi-IRA
  • DeFi
    • NFT
    • Metaverse
    • Web 3
  • Finance
    • Business Finance
    • Personal Finance
  • Markets
    • Crypto Market
    • Stock Market
    • Analysis
  • Other News
    • World & US
    • Politics
    • Entertainment
    • Tech
    • Sports
    • Health
  • Videos

Copyright © 2024 Defi Daily.
Defi Daily is not responsible for the content of external sites.