DAILY CALLER NEWS FOUNDATION—President Joe Biden touted offshore wind’s “progress” on his watch on Thursday despite the fact that the industry has struggled considerably with elevated inflation and interest rates.
Biden released an official statement Thursday celebrating his administration’s 10th approval of an offshore wind development and touting signature policies that have incentivized developers to build new projects.
However, Biden neglected to mention that the industry writ large has been plagued by high inflation, elevated interest rates, logistical snares, and supply chain snags, all of which have combined to help force developers to postpone or cancel projects or attempt to renegotiate key contracts.
“When I came into office, the United States had zero approved offshore wind projects in federal waters, and the industry was struggling…
