Embattled Sen. Bob Menendez nicknamed co-defendant wife Nadine ‘Bubbles’ due to cleavage: reportoff the coast of New Jersey which were approved for an estimated $1 billion in taxpayer-funded subsidies by Democratic Gov. Phil Murphy and state lawmakers.Orsted cited high inflation, rising interest rates and supply chain issues as their reasons for scrapping its Ocean Wind 1 and 2 projects – both of which were buoyed by tax incentives included in President Biden’s so-called Inflation Reduction Act.
“Today’s decision by Orsted to abandon its commitments to New Jersey is outrageous and calls into question the company’s credibility and competence,” Murphy said in a statement. “As recently as several weeks ago, the company made public statements regarding the viability and progress of the Ocean Wind 1 project.”
The failed development, which would have provided the state with its first offshore wind farm just 13 miles off the South Jersey coast, was expected to generate enough energy to power half a million homes.to keep the project moving forward — a move Republicans, commercial fishermen and activists slammed as a generous subsidy for a potentially harmful environmental project.
The New England Fishermen’s Stewardship Association, which argued sustainable fisheries and other maritime activities off the New Jersey coast were being threatened by the project, welcomed Orsted’s decision and said it was a sign that the future offshore wind projects would be doomed to fail. “Governor Murphy abandoned the people of New Jersey by throwing taxpayer dollars at unsound and improperly vetted offshore wind projects even when his own Division of Rate Counsel noted that ratepayers would have to pay higher costs and Orsted would earn more money as a result of the billion-dollar bailout he signed into law in July,” Smith told The Post.
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