US Pays TotalEnergies One Billion Dollars to Cancel Offshore Wind Leases for Fossil Fuel Pivot

US officials will pay one billion dollars to TotalEnergies to terminate offshore wind leases off the coasts of New York and North Carolina.TotalEnergies agreed to redirect these funds into oil and liquefied natural gas production after abandoning its renewable energy projects.Interior Secretary Doug Burgum confirmed the settlement at an energy forum as part of a strategic shift toward traditional fossil fuels.Environmental groups criticized the payment as a misuse of taxpayer funds intended to block progress on clean energy infrastructure.
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