Trump suddenly issues a ban! Norway's national oil company (EQNR.US) New York wind power project has been halted, causing panic in the entire industry.

On Wednesday, the Trump administration suddenly halted the decision of Norway's National Oil Company (EQNR.US) to stop the Empire Wind 1 offshore wind project near New York, causing a strong shock throughout the offshore wind industry. This project, which had received full approval and had an investment amount of billions of dollars, was abruptly halted, raising concerns in the industry that other projects could face similar risks. During his election campaign, President Trump promised to end the offshore wind industry, citing high costs and harm to whales and birds. On his first day in office, he signed an executive order to suspend new leasing permits for such projects in federal waters. However, this action goes far beyond just suspending new lease auctions or delaying new permit approvals the Trump administration's Interior Secretary Doug Burgum directly ordered the Norwegian National Oil Company project to stop work, claiming that the project's environmental impact assessment was flawed. Liz Burdock, CEO of industry organization Oceantic Network, stated, "The federal government's halt of the work on the fully permitted Empire Wind 1 offshore project will send shivers down the spine of all industries that have signed investment contracts with the U.S. government. This decision sends a clear signal to all businesses not just in the offshore wind industry that their investment security in the U.S. cannot be guaranteed." According to the organization advocating for the development of a domestic offshore wind supply chain, the Empire Wind project had attracted $1.6 billion in supply chain investments and created over 3,500 jobs. A report by the American Clean Energy Fuels Corp. Association last year showed that total investments in the industry are expected to reach $65 billion by 2030. Other industry representatives stated that this move contradicts the overall plan of the Trump administration to expand domestic energy production. "Hillary Bright, Executive Director of industry organization Turn Forward, stated: "The growing demand for electricity and widening energy supply gap are severely threatening economic growth. Accelerating the development of high-quality energy resources such as offshore wind power is in the fundamental national interest." A spokesperson for the Interior Department has not yet commented on the matter. On Wednesday, the Norwegian National Oil Company stated that construction had been halted as required and that they would communicate with the Trump administration to better understand their concerns about the project permit. "Cicada Effect" Currently, there are four operational offshore wind farms in the United States. In addition to the Empire Wind, there are three other projects under construction, two of which are owned by Denmark's Orsted Sunrise Wind off the coast of New York and Revolution Wind off the coast of Rhode Island, as well as Coastal Virginia Offshore Wind by Dominion Energy (D.US). These three projects are expected to start operations next year. "Aaron Ruby, spokesperson for Dominion Energy, stated in an email, "The Coastal Virginia Offshore Wind project is over 50% complete and is expected to be completed by the end of 2026, as planned. Our other lease areas are potential options for future development, but there are currently no specific plans." Orsted declined to comment. The National Ocean Industries Association, another industry organization that covers offshore wind and oil drilling companies, expressed hope to resolve differences with the Trump administration to advance new projects. Erik Milito, the association's chairman, said, "We are committed to working closely with federal agencies, stakeholders, and the government to quickly resolve any issues and provide energy solutions that align with the nation's priorities." The League of Conservation Voters (LCV) stated that revoking the project permit of Norway's National Oil Company would create uncertainty in a broader business sector and strike a blow to confidence in new investments. David Shadburn, legislative director of LCV, said, "If the government cannot honor its commitment to the permit after a comprehensive environmental review, it will not only harm the Clean Energy Fuels Corp. industry but also send a chilling effect throughout the entire business sector. The nation must not prohibit clean, affordable energy."