Source: Barron’s
“The United States and TotalEnergies on Monday signed an agreement to end the French company’s offshore US wind farm projects and redirect those funds towards fossil fuel production, with the US interior secretary saying the deal was worth ‘nearly $1 billion.’ … [TotalEnergies CEO Patrick] Pouyanne welcomed the deal, saying it redirected TotalEnergies’s $928 million investment in two wind farm leases off the North Carolina and New York coasts into US natural gas projects, in particular the Rio Grande LNG plant.” (03/23/26)