The Trump administration’s $1 billion payout to a French energy company to walk away from U.S. offshore wind development is a novel tactic against the industry that supporters see as creative, but opponents see as foolish and extreme. The Interior Department announced Monday that TotalEnergies agreed to what is essentially a refund of its leases for projects off the coasts of North Carolina and New York, and will invest the money in fossil fuel projects instead. The department hailed it as an innovative agreement. This tactical shift comes after federal courts have thwarted President Donald Trump’s efforts to halt offshore wind through executive action. U.S. Sen. Chuck Schumer, a New York Democrat, says it sets a dangerous precedent.
