In a new attack on clean energy, the Trump administration will pay French energy developer TotalEnergies nearly $1 billion in taxpayer dollars to cancel two offshore wind projects that would have put at least 37,000 people to work building 4 gigawatts (GW) of new clean energy, enough to power 1.3 million homes in New Jersey and North Carolina.
As part of the deal, the company has now agreed to “renounce offshore wind development in the United States.” Instead, TotalEnergies will reinvest almost $1 billion in unnamed gas production and liquefied natural gas (LNG) export facilities in Texas intended to provide fuel for the development of data centers in the United States and European markets. Not only will Americans living along the East Coast lose out on $2.8 billion in electric bill savings by 2035, but the export of more fuel overseas is also likely to raise energy prices throughout the country.
This is an abuse of taxpayer dollars and an attempt to compel a private company to spend capital on oil and gas interests, trading electricity the country desperately needs for fuel to be shipped overseas.
This deal is a lose-lose for Americans
Americans will foot the bill for a worse deal under this new agreement. In exchange for canceling the wind projects, the Trump administration is guaranteeing a taxpayer-funded, “dollar-for-dollar” match of TotalEnergies’ investments into oil and gas projects and exports along the Gulf. This reimbursement will equal up to the $928 million value of the leases TotalEnergies bought to build its Attentive Energy and Carolina Long Bay wind projects.
As a result, Americans will lose out on utility bill savings. By cutting clean energy supply along the Atlantic Coast, the deal will cost Americans savings of $19 for every megawatt hour of electricity they use at home, or $2.8 billion, by 2035. In a press release, the U.S. Department of the Interior said TotalEnergies pledged “not to develop any new offshore wind projects in the United States,” despite the fact that wind energy is helping to meet growing U.S. energy demand.
The administration touts “energy dominance” as a national priority but is impeding U.S. energy security on multiple fronts.
Due to new LNG investments, Americans will also lose out from higher natural gas prices. The agreement cancels 4 GW of potential wind power and stipulates that TotalEnergies reinvest in oil, natural gas, and LNG exports instead. U.S. LNG exports have already hit a record high and have burdened taxpayers with $12 billion in additional energy costs—or $124 more per household since President Donald Trump took office—as well as $957 million in annual pollution-related health care costs. Reinvesting nearly $1 billion into these sources is a win for the fossil fuel industry, not for Americans.
In addition to canceling new energy capacity at home, the Trump administration is choking energy supply abroad and driving up oil and gas costs. The war in Iran has virtually closed the Strait of Hormuz and hindered roughly a fifth of the world’s oil and gas trade. This caused a 48 cent per-gallon jump in the domestic price of gasoline within the first week of the conflict, a 3 percent increase in domestic natural gas prices, and a doubling of international LNG prices. Notably, expanding U.S. LNG export capacity will leave Americans even more exposed to international gas supply shocks. The administration touts “energy dominance” as national priority but is impeding U.S. energy security on multiple fronts.
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U.S. manufacturers and taxpayers won’t see a return
Ports and assembly hubs along the East Coast were prepared to support TotalEnergies’ wind farms. The public investment that has gone toward them and other similar projects has been instrumental in revitalizing America’s ports, bolstering other industries such as U.S. shipbuilding and serving as a lifeline for communities with shrinking access to manufacturing jobs, in addition to other economic benefits. However, thanks to the administration’s unprecedented interference, taxpayers and manufacturers are being deprived of their investments—as well as the public, who likely won’t see a single kilowatt of energy in return from TotalEnergies’ projects.
For example, three facilities that supported TotalEnergies’ projects account for more than $920 billion in public investment:
- The New Jersey Wind Port received more than $630 million in public funding and is associated with three projects, including Attentive Energy. It was exclusively built to support offshore wind, including the staging and assembly of turbine parts.
- The Paulsboro Marine Terminal in New Jersey received $250 million in public funding. After Ørsted’s wind energy project was canceled in 2023, the facility’s operations were left in limbo. Attentive Energy committed to source components from the facility and invest in its expansion, which was delivered yet another blow by the recent deal with the Trump administration.
- The Arthur Kill Terminal in Staten Island, New York, initially received a $48 million federal grant for offshore wind staging and assembly that was later revoked by the Trump administration. While the terminal aims to continue with its project, it has now lost a key partnership with Attentive Energy.
State and local communities are losing out on benefits
Across North Carolina and New Jersey, TotalEnergies’ offshore wind projects would have generated enough energy to power 1.3 million homes. New Jersey has now lost out on $12 billion in potential economic activity, while North Carolina has lost out on $44 billion. The Trump administration’s deal has also cut $3 billion in yearly wages and approximately 37,000 new jobs in North Carolina, nearly equal to the 38,000 clean energy jobs lost nationwide in 2025 as a result of the Trump administration’s anti-clean energy policies. Additionally, the LNG, oil, and gas projects to which TotalEnergies is pivoting have existing financing, so there is no guarantee that TotalEnergies’ new investments in oil and gas will create as many jobs elsewhere.
Canceled TotalEnergies offshore wind projects: By the numbers
1.3M
Number of homes across North Carolina and New Jersey that would’ve been powered by TotalEnergies’ offshore wind projects
$12B
Estimated loss in economic activity in New Jersey resulting from these projects’ cancellation
$44B
Estimated loss in economic activity in North Carolina resulting from these projects’ cancellation
37K
New jobs in North Carolina that would have been created by projects
TotalEnergies has successfully developed large offshore wind projects in Europe and Asia, including one that produces more than 1 GW of power in Scotland and a floating turbine project off the coast of South Korea that will produce more than 2 GW of power and is expected to be completed in 2027. Additionally, and in spite of the onslaught from the Trump administration, offshore wind projects are now providing consistent, reliable electricity for Americans. This includes the most recent—and biggest—project off the coast of Virginia that is on track to eventually produce 2.6 GW of capacity.
These projects are critical for reliability but also provide long-term cost savings. For example, Vineyard Wind is estimated to save Massachusetts ratepayers more than $1.4 billion over its first 20 years of operation, while Revolution Wind is expected to save New England ratepayers more than $500 million per year in wholesale energy costs. New Jersey and North Carolina ratepayers just lost out on cost-effective, reliable electricity production, thanks to TotalEnergies’ deal with the Trump administration.
This buyout marks a new level of the federal government’s corrupt policies
The Trump administration has acted openly hostile toward the offshore wind industry, and the cancellation of TotalEnergies’ projects adds to a long list of attacks. By the end of 2025, the Trump administration interfered with nearly two-thirds of approved offshore wind energy projects in the United States—including through stop-work orders on five major projects that led to at least $9 million in additional costs for New England ratepayers, would have cost a total $45 billion to end, and forced hundreds of people off high-quality, union jobs mid-construction. Fortunately for taxpayers, this freeze was struck down by a federal judge, marking the Trump administration’s fifth straight loss in series of legal battles against wind energy developers. However, the recent $1 billion buyout signals a new, more reckless approach to limiting clean energy additions and bypassing the courts.
Multiple actors can contribute to a “slow” clean energy transition
In addition to the Trump administration, TotalEnergies’ role in this deal should also not be overlooked. In a previous press release, TotalEnergies stated that they were “proud to contribute to the ramp-up of the offshore wind industry here in the United States as part of our corporate goals of reaching 100 GW of offshore wind capacity by 2030 worldwide.” By choosing to take this deal, they are seemingly walking away from long-term commitments to U.S. ratepayers along with their own sustainability goals. The company is now claiming that it needs to reassess its 2050 net-zero goals due to “slow energy transition.” Taking deals with an administration openly hostile to clean energy might contribute to the supposed slowness of this transition.
Conclusion
The transfer of 1 billion taxpayer dollars to a foreign company to boost production of fossil fuels meant for export cuts off access to affordable and clean energy deployment to 1.3 million homes across the East Coast while leaving Americans susceptible to price spikes and pollution. This is not about supposed energy “dominance” because energy production includes renewables. By backing a fossil-fuels-first approach and killing offshore wind projects, the Trump administration is only deepening the nation’s electricity crisis.
*Authors’ note: The $920 billion figure represents the sum of public funding committed across the three supporting projects—$630 million, $250 million, and $48 million. This list is not inclusive of all related projects, partners, or suppliers to the TotalEnergies project.