A wave of bad press and a stock collapse have contributed to Orsted formally announcing a DELAY in its 98 wind turbine project off of the coast of Cape May County. 2026 is the new date at which point we’ll have a new governor (and perhaps a new president), so anything can happen.
It’s a huge blow to the Murphy Administration and a win for New Jersey ratepayers.
But Congressman Jeff Van Drew (R-2), one of the offshore wind push’s most vocal critics, released a statement late Thursday during fellow opponents of Ocean Wind I to keep up the pressure.
“While this is a victory, we cannot take the pressure off of these companies. Offshore wind projects have been nothing more than money grabs for global elites,” said Congressman Van Drew. “Once the facts presented themselves, the people of South Jersey began to speak out. Today is a culmination of that effort, but we won’t stop here.”
“These projects are profit-driven, damaging to our oceans, negatively impact our national security, and cause utility bills to skyrocket,” added the Cape May legislator. “I will continue to fight for the people of South Jersey, and I am proud to stand arm-in-arm with them in this fight.”
Orsted’s stock recovered slightly on Thursday after a 25% drop on Wednesday after the company announced a combination of supply issues and lack of progress on securing new tax credits had stymied overseas ventures including Ocean Wind 1. Trenton foolishly adopted a billion dollar tax credit giveaway for Orsted back in July, but apparently that wasn’t enough for the Danish-owned corporation which is continuing its grift for as long as it can.
New Jersey Democrats (and Republicans who went along to get along, like ex-GOP Senate leader Steven Oroho) should apologize to the people of this state. You aided and abetted an obvious scam!