Story perspectives

Trump spends $2B on offshore wind buyouts, sparks backlash

4/30/2026

Summary

Story summary

President Donald Trump’s administration allocated almost $2 billion to reimburse offshore wind leaseholders who abandon projects and finalized buyouts for Bluepoint Wind, Golden State Wind and TotalEnergies, cancelling projects.
Rep. Jared Huffman and Rep. Jamie Raskin warned TotalEnergies $1 billion reimbursement may be illegal.
Senate Majority Leader Chuck Schumer called the buyouts a taxpayer bailout for fossil-fuel donors.
Professor Kristoffer Svendsen said the buyouts signal a bleak outlook for U.S. offshore wind.

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Story summary

President Donald Trump’s administration allocated almost $2 billion to reimburse offshore wind leaseholders who abandon projects and finalized buyouts for Bluepoint Wind, Golden State Wind and TotalEnergies, cancelling projects.
Rep. Jared Huffman and Rep. Jamie Raskin warned TotalEnergies $1 billion reimbursement may be illegal.
Senate Majority Leader Chuck Schumer called the buyouts a taxpayer bailout for fossil-fuel donors.
Professor Kristoffer Svendsen said the buyouts signal a bleak outlook for U.S. offshore wind.