AInvest Newsletter
Daily stocks & crypto headlines, free to your inbox
The U.S. Department of Transportation has canceled funding for 12 infrastructure projects supporting offshore wind development, totaling 679 million dollars. This decision directly impacts thousands of jobs, including many blue-collar workers who supported the current administration in the elections, creating a stark contrast with the government's "America First" labor policies.
The administration is accelerating its policy offensive against wind energy development. The Department of Transportation's decision to withdraw funding for these projects is part of a broader strategy to prioritize traditional energy sources over renewable energy. The department's secretary stated that wasteful wind energy projects were diverting resources that could be used to revitalize the U.S. maritime industry. The reallocated funds are expected to support port upgrades and other infrastructure projects.
One of the most significant projects affected is the Revolution Wind project by Danish
Orsted A/S, which was ordered to halt its operations off the coast of New England. The project, which was 80% complete, is now under threat, raising concerns about potential electricity price increases. Industry executives warn that the administration's actions against clean energy could lead to higher electricity prices.The project's suspension has left approximately 1,000 workers in Rhode Island idle, sparking strong discontent among local union leaders. The union chairman highlighted that these jobs were specifically trained "blue-collar, working-class positions" that the administration had promised to protect. A non-profit industry advocacy group also noted the irony of these actions coming from an administration that frequently discusses the importance of American workers and enjoys union support.
Industry advocates warn that the project's stagnation will not only affect coastal regions but also ripple through the manufacturing supply chain in Republican strongholds like Louisiana. The administration has reiterated its energy policy priorities, emphasizing the release of domestic oil, natural gas, and nuclear energy as the most effective and reliable tools. Under this policy, multiple offshore wind projects have become targets, with the Humboldt Bay project in California being the most severely affected, losing approximately 427 million dollars in federal funding.
The Humboldt Bay project was planned to build a maritime terminal for assembling and deploying wind turbines, supporting California's goal of achieving 25 gigawatts of offshore wind energy by 2045. The 12 affected projects include:
Projects with funding withdrawn:
Projects with funding terminated:

Stay ahead with the latest US stock market happenings.

Oct.14 2025

Oct.13 2025

Oct.13 2025

Oct.11 2025

Oct.11 2025
Daily stocks & crypto headlines, free to your inbox
Comments
No comments yet