Man facing first-degree murder charge in death of woman struck by car in Cole Harbour | SaltWire - European energy companies, including Denmark's Orsted, will likely write down more of their U.S. offshore wind investments this week after BP and Equinor booked $840 million in impairments in recent days.
Soaring costs from rising inflation, interest rate hikes and supply chain delays have cast doubt on plans by U.S. President Joe Biden and several states to use offshore wind to replace fossil fuels in energy production and reduce carbon emissions. On Tuesday, energy major BP wrote down $540 million in the third quarter on wind projects after officials in New York state rejected a request for better terms to reflect what BP referred to as"inflationary pressures and permitting delays."