For all that Donald Trump has accomplished on a world stage since becoming our 47th president, I have experienced the same resurgence of tremendous national pride and relief that most rational Americans have felt, watching our country re-establish itself so rapidly and with such determination. The eight years of Obama's obsequious anti-American apology tours were grating enough, with that brief, and illegally hampered Trump interlude a fleeting bright spot. But to be followed by the dismal, near-catastrophic disaster of the catatonic Biden cluster nearly spelled the end of 'that bright, shining hill.'
WE ARE BACK, BABY
There has been another aspect of the Trump presidency that has just tickled me to death, as you can probably guess. It's what POTUS and his phenomenal cabinet picks have done in short order to the climate cult's most precious Green Fever Dreams that have warmed the cynical cockles of my heart.
Trump and his administration came into the best-laid plans, regulations, and mandates of a Green grifting operation, well...
So much so that there has been a cascade of news in all sectors of the renewable scam industry - it's been kind of difficult to pick and choose tidbits.
But when I saw defensive, whiny media coverage today about something the president said, I thought I'd do a day's worth of posts to catch you all up. I am dedicating it to President Trump, who has been keeping his campaign promises to free us all from this cruel, futile, and unnecessary climate cult-imposed penury and darkness.
This great, consistently unreliable and ruinously expensive, never-ending experiment has only funded lucrative and improved lifestyles for those who insist on stripping a well-earned 21st-century standard of living from tax/ratepayers forced to bear the burden.
So four posts today on the state of the 'Green New Scam,' from offshore wind to solar and in between, with a sprinkling of Europe in for good measure, with parables to learn by or because their renewable industries are inexorably intertwined and tied to the rise and fall of our own. Such is the reach of the Green grift - truly global.
This is what got me started, and of course, I smiled.
Deeply revealing that the fake news media thinks telling the truth is a “strategy.” pic.twitter.com/2m96Qnu7z4
— Comfortably Smug (@ComfortablySmug) October 16, 2025
Let's go.
Those of you who have been kind enough to read my work for a good while know I consider Danish offshore wind developer Ørsted to be one of the chief villains in the entire debacle that is 'offshore wind.'
Even before Trump was elected, they were having a difficult time with supply and warranty issues eating enormous chunks of profits, not to mention the costs associated with rising interest rates. As well as, particularly in regard to US projects, there were the beginnings of some real organized resistance from seaside communities they'd once been able to ride roughshod over, and serious pushback, if not outright rejection, from state utility boards when Ørsted and partners went back to them looking for better, more lucrative rate terms on already signed and exorbitant contracts to make-up for those potential losses.
Trump and his well-documented antipathy to wind only increased the pressure on the company, which, to complicate matters further, is majority owned (50.1%) by the Danish government. So whatever happens to this wind behemoth isn't merely a business loss. It has potential international incident implications.
As a sidenote, that's also the case with the nearly completed Empire Wind project off of New York State, which had been first canceled and then permitted to go ahead after a deal with Governor Kathy Hochul. The developer in that farm is Equinor, a company that is 67% majority owned by the Norwegian government. Speculation - besides it being a quid pro quo deal with NY to allow gas pipeline for the wind farm to finish out - is that the Norwegian government after the huge investment in a 99% completed offshore project, was going to fling a rather nasty, protracted, and expensive international lawsuit over the cancellation, something Trump was willing to avoid in the nascent months of his administration.
Back to Ørsted.
In August, the company's shares dropped to an all-time low after Secretary of the Interior Burgum ordered a stop to the massive Revolution Wind planned for the coast off Rhode Island. By last month, they were announcing a stock 'rights offerings' of $9.4B /60B kroner in an effort to shore up their very shaky balance sheet with some cash.
During the first week of October, the company found enough willing takers to get what they thought they needed.
Ørsted raised 60 billion Danish kroner ($9.4 billion) through a rights offering that’s critical for the company to tackle the downturn facing the wind power industry.
The fund raise, the biggest for a European energy company in over a decade, will allow the state-backed Danish firm to shore up its balance sheet after the Trump administration’s moves against offshore wind upended Ørsted's business model.
Investors took up 99.3 percent of the more than 900 million shares offered in the fully underwritten capital increase, according to a statement late Monday. The company said demand for the shares was “extraordinarily high.”
Last week, the bad news kept rolling in after 'setbacks in the U.S.'
Orsted, the world's biggest offshore wind farm developer, will cut about 2,000 jobs by the end of 2027, a quarter of its workforce, and will focus more on Europe after setbacks in the US https://t.co/ZPlFe2SteW pic.twitter.com/y6HHOzlNqv
— Reuters Business (@ReutersBiz) October 9, 2025
There were cynical 'I told you sos' already lined up.
Orsted to cut 25% of staff to refocus on loss-making wind in Europe.
— Desiree Fixler (@desireefixler) October 9, 2025
Here’s an idea - go back to what worked: Danish Oil & Gas pic.twitter.com/QHzYfSPmtD
And the company isn't having much better luck in strike-happy Europe.
Another blow to Orsted. It never rains but it pours. Link in reply. pic.twitter.com/AYr93NvyIz
— David Turver (@7Kiwi) October 15, 2025
So they're pulling a bit of a retrenchment to lick wounds and hope all the owies go away. But what happens to Ørested happens to Denmark.
That's the awkward thing about state-owned companies. Instead of competition in a marketplace, rising and falling on their own, the pain is spread to taxpayers whether they wanted any part of it or not.
Prospects Dim for Denmark’s Renewable Energy Star
Orsted, a Danish wind farm developer, has been hammered by high costs and President Trump’s efforts to stymie renewable energy. Its struggles are rippling across Denmark.
For the Danish wind farm developer Orsted, the bad news has not stopped. Once on its way to becoming a giant of renewable energy, the company is now shrinking in everything from stock market value to ambition.
The reversal of fortune comes amid a broad downturn in the offshore wind industry set off by rising construction costs and interest rates after the pandemic and exacerbated by President Trump’s dislike of wind farms.
Orsted, which helped create and dominated the offshore wind industry, has felt a huge impact from these setbacks. The company said last week that it would lay off 2,000 people, or 25 percent of its staff, over the next two years.
Rasmus Errboe, the company’s president and chief executive, offered a blunt explanation for the job cuts: Orsted was narrowing its focus and dialing back its aspirations.
Instead of lining up new, multibillion-dollar wind farms to build in shallow waters around the globe, Orsted will mainly focus on finishing those it has under construction and managing them or selling them off.
The company will complete “our large construction portfolio in the coming years, which is why we’ll need fewer employees,” Mr. Errboe said in a statement.
That pain being felt in Denmark will spread to other segments of the wind industry, and here as well. Not only because of offshore farms that aren't being built, so obviously those construction jobs never materialize, but the equipment and things like turbines, etc once needed to build the farms with.
For example, Maersk, the shipping behemoth, also has its hands in offshore work. But Maersk just pulled the rug out from under a Singapore company that had 99% completed the build of an offshore turbine installation vessel contracted for work on Empire Wind, that Rhode Island off-again, on-again Equinor/Norwegian project.
While Empire Wind 1 did get that go-ahead, Empire 2 looks too shaky for Maersk to be willing to eat a $475M ocean-going wind farm pool float.
They'd rather get sued for canceling the contract. It's cheaper.
Singapore-based Seatrium Limited announced today it has received a notice of termination from Maersk Offshore Wind for a nearly completed Wind Turbine Installation Vessel (WTIV) originally contracted in March 2022. The vessel, which is approximately 98.9% complete, was intended for deployment at the Empire Wind 1 offshore wind farm in U.S. waters.
The $475 million contract (approximately S$610 million) was awarded to Sembcorp Marine Rigs & Floaters Pte Ltd, now known as Seatrium Energy (International) Pte Ltd (SEI).
According to Seatrium’s announcement, the company received the notice of termination on Thursday. SEI stated it will “explore viable solutions, including with the end-customer, Empire Offshore Wind LLC” while reviewing “the validity of the Notice of Termination, as well as the allegations set out therein.”
...While Empire Wind 1 construction has resumed, Equinor recently indicated it is unlikely to pursue the Empire Wind 2 project due to regulatory changes in the U.S. Earlier this month, the Trump administration announced plans to reconsider key government approvals for Empire Wind 2.
The other kiss of death omen for wind I kind of got a chuckle out of?
If you know anything about CNBC's Jim Cramer and his reputation...
Cramer Backs GE Vernova Amid Turbine Setback and Analyst Downgrade
...you'll laugh, too.
Things are straightening out.
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