Behind the windfall is a #settlement stipulating that German energy giant #RWE will receive $1.2 billion from a federal fund on the condition that it gives up its offshore wind leases in NY, California & Louisiana & invests in unspecified #oil, #gas or #nuclear “conventional energy” projects.
Most of the payout—$900 million—will be spent by RWE to buy a stake in a massive LA #LNG project, acc/to statements from RWE & #WoodsideEnergy, the majority owner of the project.
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$900 million from a canceled #wind deal will benefit a #Trump donor
Government #settlement money is going to a Trump neighbor’s private equity fund.
The Trump admin’s latest deal to cancel offshore wind projects & boost #FossilFuel #energy development instead is generating a huge payday for one of Trump’s million-dollar donors.
#law #corruption #TaxpayersMoney #ClimateSolutions #ClimateChange #ClimateCrisis #FossilFuels
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