Comment: Trump fights energy transition with billions - to RWE's delight
The US President is advancing his campaign against renewable energy, which not only benefits RWE. This is tantamount to a declaration of bankruptcy of democracy and a free market economy.
US President Donald Trump has been openly corrupt, like few other politicians, distributing billions of dollars to energy corporations. From the US government's perspective, nearly $4 billion has been paid to individual companies to halt offshore wind projects. On Thursday evening, German energy giant RWE announced a deal with Washington worth $1.2 billion – for the surrender of their licenses before the coasts of New York, California, and Louisiana.
Instead of investing in green energy, the money now goes into expanding gas production. This applies to RWE as well as French oil multi Totalenergies, Engie subsidiary Golden State Wind, and US provider Invenergy. All companies have entered into similar deals. While the fossil fuel announcements are officially not related to the withdrawal from wind projects, they occurred precisely at the same moment.
Written by urgent.news from Handelsblatt's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
