Rep. Chris Smith (R-NJ) today welcomed news that Shell Energy, a British company, has announced its withdrawal from the Atlantic Shores wind project off the coast of New Jersey, taking an almost $1 billion write-off (loss) in the process.

“Just like Orsted, Shell has determined that despite huge taxpayer subsidies and discussions of massive increases to ratepayers, they will still lose money,” said Smith.

 “This is now another domino to fall, exposing the gross negligence throughout the offshore wind approval process which has failed to address the economic unsustainability, environmental degradation, and national security risks presented by the reckless offshore wind buildout,” Smith continued.

“Shell’s pull out, along with President Trump’s executive order will help shine a light on the Green New Deal whitewash and hopefully permanently halt all projects off New Jersey’s coast,” Smith said.

“Offshore wind development will disrupt critical national security radar, destroy commercial and recreational fishing, harm tourism that local economies rely on, and impede Coast Guard search and rescue activities near wind farms,” said Smith, who has for years pointed out the lack of serious scrutiny, economic unsustainability, and legal deficiency of these projects and has led multiple efforts to secure answers from the Biden Administration on offshore wind.

According to Shell Chief Financial Officer Sinead Gorman the company does not see the project fitting, “our capabilities nor returns that we would like.” While Atlantic Shores vows to continue the project, the announcement comes following growing economic headwinds for the offshore wind energy sector and President Trump’s Executive Order pausing all projects until a comprehensive assessment and review can be performed on the sufficiency of the offshore wind approval process.

“Offshore wind turbines will seriously disrupt and endanger public life on the New Jersey coast.” Smith added.

Smith also said it was good news for Sea Girt, where the local community holds valid concerns over the large-scale electrical cables planned to be laid in residential areas and along major thoroughfares.

“If foreign companies, like Shell, think they can come to the Jersey shore and destroy it and our way of life so they can soak up easy federal subsidies and hard-earned money from ratepayers, against the wishes of local communities, they are sorely mistaken.”

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