Rep. Chris Smith of New Jersey has expressed approval following Shell Energy's decision to withdraw from the Atlantic Shores wind project off the coast of New Jersey. The British company is taking an almost $1 billion write-off as a result.
Smith stated, “Just like Orsted, Shell has determined that despite huge taxpayer subsidies and discussions of massive increases to ratepayers, they will still lose money.” He further commented on what he perceives as negligence in the offshore wind approval process, which he believes fails to address economic and environmental concerns.
Smith continued by saying, “Shell’s pull out, along with President Trump’s executive order will help shine a light on the Green New Deal whitewash and hopefully permanently halt all projects off New Jersey’s coast.”
He raised concerns about the potential impact of offshore wind development on national security radar, fishing industries, tourism, and Coast Guard operations. Smith has previously criticized these projects for their perceived lack of scrutiny and sustainability.
Sinead Gorman, Shell's Chief Financial Officer, noted that the project does not align with the company's capabilities or desired returns. Despite Shell's withdrawal, Atlantic Shores intends to continue its efforts amid growing challenges for the offshore wind sector and under an executive order from former President Trump pausing projects for further review.
Smith also highlighted local opposition in Sea Girt regarding planned electrical cables in residential areas. He remarked on foreign companies' intentions against local community wishes: “If foreign companies, like Shell, think they can come to the Jersey shore and destroy it and our way of life so they can soak up easy federal subsidies and hard-earned money from ratepayers...they are sorely mistaken.”
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