Oil execs rap Trump on wind energy

Business leaders and trade organisations have been especially worried by attempts to stop work on wind farms that had already secured federal approval, writes Rebecca F. Elliott from New York

- 

Parts for the construction of Revolution Wind, a wind farm off the coast of Rhode Island that was among the projects threatened by the Trump administration.

(REUTERS)

Oil and gas executives are expressing concern about the Trump administration’s attacks on offshore wind, including attempts to block the construction of projects off the East Coast.

Executives generally have refrained from publicly denouncing President Donald Trump, but in interviews with The New York Times, some voiced misgivings about what they have seen as undue political meddling in energy.

“Ever-changing policy, particularly as administrations change, is not good for business,” Darren Woods, the CEO of Exxon Mobil, said in a recent interview. “It's not good for the economy and ultimately, it’s not good for people.”

Mr Woods, who runs the largest US oil and gas company, was responding to a question about the Trump administration's attempts to halt fully permitted offshore wind farms. He stopped short of directly criticising those actions.

Others have shared more pointed concerns privately, including that efforts to rescind federal approvals could set a precedent that a future administration could use to hamper pipelines or other fossil fuel infrastructure.

“Life is long, and the sword being wielded against the renewables industry right now will likely boomerang back in 3.5 years against traditional energy,” reads a response to a recent anonymised survey of oil and gas companies by the Federal Reserve Bank of Dallas.