For Immediate Release: March 23, 2026
Media Contact: [email protected]
BALTIMORE – Today, the Department of the Interior announced an agreement with French developer TotalEnergies to invest approximately $1 billion in oil and natural gas and LNG production in the United States. Following this new investment, the federal administration will reimburse the company up to the amount paid for both offshore wind leases in New York and North Carolina. Additionally, TotalEnergies pledged not to develop any new offshore wind projects in the United States.
In response, Oceantic Network has released the following statement from Sam Salustro, SVP of Policy & Market Affairs:
“After failing to shut down offshore wind through strong-arm tactics and litigation losses, the administration is now spending $1 billion in taxpayer dollars to force developers out of the market—wrapped in a false narrative about affordability, reliability, and national security. Winter Storm Fern showed how offshore wind helps keep the lights on and rates down for millions in the Northeast. And while security claims have been reviewed and dismissed by multiple federal judges, the Department of the Interior and Department of Defense have repeatedly signed off on projects well before construction began.
“Offshore wind’s long-term trajectory remains secure in the U.S. as states continue to make the power source a foundational part of their energy mixture that creates good-paying local jobs. This is political theater meant to obscure the fact that offshore wind capacity is being pulled out of the pipeline when energy prices are skyrocketing, even as other offshore wind projects continue delivering reliable and affordable power to the grid. Paying to remove affordable, homegrown energy out of the equation leaves American consumers struggling to pay their electricity bills.”
Additional Information:
For more information or to arrange an interview with an Oceantic spokesperson, contact us at [email protected].
###
At Oceantic Network, we envision a thriving offshore energy industry powering strong economies. Offshore wind energy is the gateway to a host of other ocean renewables, including green hydrogen, wave energy, offshore solar, and more. Our collaborative member network advances the offshore renewable energy market and builds a robust supply chain of local companies. For more than a decade, Oceantic has grown alongside industry, setting the pace for an expanded view of what offshore renewable energy can deliver towards our nation’s energy mix. For more information about Oceantic membership, products and services, visit our websiteor follow us on LinkedIn.
