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Wright Tells Bloomberg Offshore Wind's Economic Outlook Is Not Promising After Revolution Wind Cancellation

September 3, 2025 · U.S. Department of Energy · 0:11:35

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What happened

Energy Secretary Chris Wright joined Bloomberg’s Balance of Power days after the administration cancelled the Revolution Wind project in New England. Asked whether the administration considers wind a viable resource for the grid and whether the domestic wind industry is dead, Wright noted the One Big Beautiful Bill removed subsidies for wind at President Trump’s urging, said offshore wind is twice as expensive as onshore wind, and said the United States would not have a big onshore wind industry without heavy subsidies. He concluded the economic outlook for offshore wind in the United States is not promising.

Wright said Germany, Denmark, and the United Kingdom went all in on offshore wind and now compete for the most expensive electricity in the world, a path he said President Trump does not want for America. Asked whether the policy disincentivizes foreign investment from the same countries, Wright said the administration absolutely wants foreign direct investment, but projects should be viable without subsidies and add to the economy.

Wright closed on energy security, saying allies seek energy from secure partners rather than adversaries, recalling the Russian pipelines built into Europe before Russia invaded Ukraine along one of them, and calling energy critical to both economic and national security and central to President Trump’s agenda.

Why it matters

The interview is the Energy Department’s fullest defense of the Revolution Wind cancellation, tying the subsidy rollback to electricity prices abroad and recasting wind policy as a national-security question.

Sources: U.S. Department of Energy, “Secretary Wright Joins Bloomberg’s Balance of Power — September 3, 2025”, 2025-09-03 (official upload, embedded above; published 2025-09-03). Transcript via Supadata (private research store, paraphrased and attributed, not republished). All figures and characterizations as stated by the speakers.