Back to today’s briefing

Story perspectives

U.S. Halts Offshore Wind Projects, Redirects $1 Billion to Fossil Fuels

3/24/2026

41 9 Full Breakdown

Summary

Story summary

On March 23, 2026, the U.S. and TotalEnergies agreed to halt offshore wind projects and redirect nearly $1 billion to fossil fuel production.
Interior Secretary Doug Burgum announced the deal at the CERAWeek conference in Houston.
TotalEnergies CEO Patrick Pouyanne said the funds would support U.S. natural gas projects, including the Rio Grande LNG plant.
The move follows a suspension of 4 gigawatts of offshore projects due to licensing issues.

1 of 1

Story summary

On March 23, 2026, the U.S. and TotalEnergies agreed to halt offshore wind projects and redirect nearly $1 billion to fossil fuel production.
Interior Secretary Doug Burgum announced the deal at the CERAWeek conference in Houston.
TotalEnergies CEO Patrick Pouyanne said the funds would support U.S. natural gas projects, including the Rio Grande LNG plant.
The move follows a suspension of 4 gigawatts of offshore projects due to licensing issues.