Total to Use Offshore Wind Money for Pumping U.S. Oil and Gas -- WSJ

Dow Jones03-24

By Collin Eaton

French oil giant TotalEnergies agreed to use a $920 million reimbursement from the U.S. government for renouncing its offshore wind lease to pump more American oil and gas, Interior Secretary Doug Burgum said Monday.

At the S&P Global CERAWeek energy conference in Houston, Burgum said offshore wind is too costly and subsidized investments in the technology would raise prices for U.S. consumers."The era of affordable energy is here to stay," Burgum said.

TotalEnergies CEO Patrick Pouyanné said the nearly billion-dollar reimbursement will go primarily to its natural gas and liquefied natural gas investments in the U.S., according to an agreement he and Burgum signed Monday.

This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage).

(END) Dow Jones Newswires

March 23, 2026 13:01 ET (17:01 GMT)

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