The Trump administration has made a deal to end Biden’s oil-suppressing wind projects
US Secretary of the Interior Doug Burgum breaks down President Donald Trump’s ‘masterclass’ in energy diplomacy ahead of his meeting with Venezuelan oil officials on ‘Kudlow.’
FIRST ON FOX: Trump’s Interior Department reached a historic deal with energy giant TotalEnergies to redirect nearly $1 billion away from “untrustworthy” wind farm projects and “ideas” approved under the Biden administration and instead invest in US oil and natural gas as part of the president’s “energy governance agenda.”
Secretary Doug Burgum announced the deal with TotalEnergies on Monday at the CERAWeek conference, an annual gathering of global oil and energy leaders in Houston.
TotalEnergies is canceling its US offshore wind lease and instead investing a total of $928 million in oil, natural gas and liquefied natural gas production in the US, according to the department. Additionally, after the department temporarily suspended all leasing of major offshore wind projects under construction in the US due to “national security risks,” TotalEnergies pledged not to build any new offshore wind projects in the country.
| A ticker | Security | Finally | Change | change % |
|---|---|---|---|---|
| TTE | TOTALENERGIES SE | 88.55 | -0.20 |
-0.23% |
The department said that “under this new deal driven by President Donald J. Trump’s Energy Dominance Agenda, the American people will no longer be able to afford subsidies for ideas that have only benefited the unreliable and expensive offshore wind industry.”
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President Trump, l., and oil drill, r. (Getty Images)
As part of the deal, TotalEnergies will invest $928 million in developing a liquefied natural gas plant in Brownsville, Texas, and shale gas and conventional oil production upstream in the Gulf of America.
Next, the US will stop the rental of wind farms in the Carolina Long Bay area and in the New York Bight area. Both leases were awarded to TotalEnergies by the Biden administration through 2022. The US will be returning TotalEnergies for this investment.
According to the department, this reinvestment “directly advances the Trump Administration’s ongoing efforts to reduce costs for American families, increase infrastructure and grid reliability, and help maintain global leadership in artificial intelligence.”
Burgum called the deal “another achievement of President Trump’s commitment to affordable and reliable energy for all Americans.”
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Secretary of the Interior Doug Burgum delivers his remarks outside the White House on March 19, 2025, in Washington, DC. (Getty Images)
“Offshore wind is one of the most expensive, unreliable, environmentally damaging, and subsidy-dependent programs ever forced on American taxpayers and taxpayers,” Burgum told Fox News Digital.
He added that the administration welcomes TotalEnergies’ commitment to “developing reliable, affordable energy projects to lower Americans’ monthly bills while providing secure US energy today – and into the future.”
US Attorney General Pam Bondi also commented on the agreement, telling Fox News Digital that “today’s agreement prioritizes affordability for hard-working American consumers over previous ineffective energy policies.”
Bondi predicted that “The American people will benefit from this important investment in our energy industry,” he said, “and it will also improve our national security and grid reliability.”
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Madaket sailors walk along the beach in this 800mm telephoto view that zooms in on the Vineyard Wind turbines 15 miles away. (Stan Grossfeld/The Boston Globe via Getty Images)
Patrick Pouyanné, CEO of TotalEnergies, told Fox News Digital that the company is “happy” to sign the agreement with the DOI and to support the administration’s energy policy.
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He explained that the decision to abandon offshore wind development in favor of US oil investment was made considering that offshore wind projects “are not in the country’s interest.”
Pouyanné said this investment will help supply Europe with natural gas that is “much needed” by the US and provide gas for the development of the American data center. He said TotalEnergies believes this is “a good use of capital in the United States.”
