BP Abandons Beacon Wind: Political Winds Shift

BP pulls the plug on its massive Beacon Wind project off the US East Coast after facing political headwinds, particularly from Trump's opposition to renewable energy. Investors cheered the move as BP backpedals on its green energy pivot amid profit concerns, despite initially investing billions in American offshore wind. The cancellation leaves BP's joint venture partner, Jera, without a US project and results in staff layoffs, signaling a broader industry trend of rethinking wind projects in the face of political and economic challenges.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.