The Trump administration’s decision to halt fully permitted offshore wind energy projects is “very damaging” to investment, Shell US President Colette Hirstius told the Financial Times in a report published on Sunday.
Hirstius told the newspaper that energy projects with proper permits should be allowed to continue and warned the political pendulum in the US could eventually swing back against the oil and gas sector.
“I think uncertainty in the regulatory environment is very damaging. However far the pendulum swings one way, its likely that its going to swing just as far the other way,” she told FT.
“I certainly would like to see those projects that have been permitted in the past continue to be developed,” she said.
Shell did not immediately respond to a Reuters’ request for comment.
In August, the Trump administration said it was canceling $679 million in federal funding for 12 offshore wind projects, in a blow to an industry that was central to former President Joe Biden’s climate and energy agendas.
London-listed Shell employs more than 11,000 people in the US and is the largest producer of oil and gas in the Gulf of Mexico.
Credit: Source link
