Category Archives: Offshore

WorldMarine Offshore (WMO) has entered into a joint venture agreement with U-MingMarine Transport Corporation (U-Ming) to jointly establish U-MING MARINEOFFSHORE COMPANY UMITED (UMO) to pursue activities within the offshorewind sector in Taiwan.

Matthias Ens has been appointed General Manager for UMO with experiencein the offshore wind industry in Europe. He will lead a local workforceand officially launch the turnkey offshore wind logistic business.

The CTVs of the joint venture have already secured charter contracts foroffshore wind farms. The UMO fleet consists of trimaran SWATH vessels thatare fitted with a patented hydraulic fender system "Soft Bow",that is designed to support activity in higher seas. In addition, UMO hasinvested in ship digitisation, and BareFLEET remote monitoring system.The system is used to send daily reports on crew, technicians and equipmentscheduling, fuel consumption, weather observations, safety checks and drillsto customers, as well as to ensure that shore-based managers are fullyaware of the vessels' operational status and safety.

For everything you need to know aboutthe strategies used to support the construction and O&M of offshorewind farms, current and future, including supply and demand for serviceand accommodation vessels, and helicopters, clickhere.

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WMO and UMO form new joint venture in Taiwan - 4C Offshore

TetraSpar

(Courtesy Stiesdal Offshore Technologies)

Offshore staff

LAUSANNE, Switzerland Shell and RWE have commissioned Akselos to apply its structural simulation software Integrato model the TetraSpar floating foundation demonstrator.

This is due to be installed in 200 m (656 ft) water depth, 10 km (6.2 mi) from the coast at the Marine Energy Test Centre,near Stavanger.

The Digital TetraSpar will interface with sensors on the structure and serve as a detailed structural model of the demonstrator.

Akselos claims that the speed and scale of its software allows the behavior of the entire structure to be analyzed in near real time.

This should provide insightsfor improvements in the design and operation of the concept, leading to lower cost, optimized maintenance, and inspection workflows.

Akselos previously supplied a structural digital twin for deployment on the WindFloat Atlantic project as part of a US Department of Energy grant.

Steven Zijp, project engineer Offshore Wind at Shell, said: The partnership between Akselos, TetraSpar, RWE and Shell enables us to further scale and manage floating offshore wind turbines, making them safer and more cost efficient, while allowing developers access to deeper and more challenging waters around the world.

The TetraSpar floating wind foundation was developed by Stiesdal Offshore Technologies, which is working on the demo project claimed to be the worlds first full-scale demonstration of an industrialized offshore foundation with TEPCO Renewable Power, Shell, and RWE.

The foundation is a tetrahedral structure assembled from tubular steel components.

A 3.6-MW wind turbine supplied by Siemens Gamesa Renewable Energy will be mounted on the foundation at the quayside using a land-based crane.

From there, the assembled structure will be towed to the offshore test site, moored with three anchor lines and connected to the electrical grid.

06/28/2021

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Digital twin to model floating wind foundation demonstrator - Offshore Oil and Gas Magazine

When President Biden took office in January, a peculiar idea about oil and gas started to make the political rounds: that certain parts of the industry are more environmentally responsible and can actually reduce emissions, compared to other parts of the industry that are worse for the Earth.

If you want to reduce emissions, the offshore arena is better, Scott Angelle, who was the top environmental regulator of offshore energy under the Trump administration, told the trade publication Offshore in late January.

Questionable claims about the climate might be expected from a Trump administration official who rolled back oil and gas regulations, but the same argument has also seeped into Democratic politics.

Gulf of Mexico oil and gas production produces substantially fewer greenhouse gas emissions than oil and gas production in any other region of the world, Louisiana Gov. John Bel Edwards, a Democrat, testified to the Senate Energy Committee in May.

Documents show that these claims originated with a little-known lobbying group that advocates for offshore oil and experts told Vox that theyre dubious at best. By focusing on the emissions of oil and gas production, the industry is ignoring the much larger share of pollution that comes from the burning of fossil fuels. This is a clear attempt at greenwashing: Parts of the oil industry are arguing, perversely, that more fossil fuels can help solve the climate crisis.

Yet these tactics also suggest that fossil fuel companies foresee a fight for survival in a shrinking market for oil and gas and one emerging industry tactic is pointing fingers to claim that a particular source of oil and gas isnt as dirty as the next persons.

Theyre falling over themselves to claim their oil is cleaner than someone else, Lorne Stockman, a research analyst at Oil Change International, a nonprofit advocacy group, told Vox.

Whats worrying is that attempts to rebrand some oil and gas as sustainable has gained traction even among prominent Democrats, and could influence an administration that has pledged to slash emissions by half within the decade in the hope of preventing catastrophic climate change.

The offshore oil industry in the US Gulf of Mexico has reason to be particularly worried right now. Rigs and platforms along the outer continental shelf (OCS) were producing oil at a record rate right before the coronavirus pandemic began, but lockdowns caused a global crash in oil prices and a collapse in demand.

Bidens agenda could put the sector further at risk. Offshore drilling requires expensive investments that can take more than a decade to pay off, so it relies on continuity more than, say, the boom-and-bust business of fracking on land. And while President Trump put 517 million acres of drillable federal waters up for auction, the Biden administration has tried to pause lease sales while the Interior Department considers reforming the process. (These efforts are working their way through the courts, and most recently faced a roadblock when a federal Louisiana judge, appointed by Trump, sided with Republican attorneys general and essentially paused Bidens pause.)

Days after Biden issued a series of climate-related executive orders in late January, an oil lobbying group, the Louisiana Mid-Continental Oil and Gas Association (LMOGA), started circulating talking points in a memo titled Climate Values at Risk. It argued that if Gulf oil production declines, so would taxes and royalties that are used for nature conservation. It also said, Reducing production in the US Gulf of Mexico Probably Increases Greenhouse Gas Emissions.

These documents were obtained via public records request by Documented, a watchdog group that investigates corporate corruption. The group revealed that trade groups in Louisiana and New Mexico sprang into action against Bidens executive orders by writing talking points for Democratic politicians, HuffPost reported in April.

The US Gulf of Mexico produces oil with exceptionally low [greenhouse gas] intensity for several compounding reasons, explains one of the offshore oil lobbys key documents.

The first reason, the lobbying document said, is that Gulf oil has fewer conventional pollutants. Next are leaks of methane, a potent greenhouse gas that the trade group describes as under extremely tight control. Last is a regional pipeline system that brings the regions oil straight to neighboring Gulf Coast refineries, whereas other producing regions around the world rely on less-efficient trucks or tankers to bring crude oil to market.

A month later, in a presentation to Secretary of Energy Jennifer Granholm, Louisianas Gov. Edwards adopted all of this language as if it were his own. Under the heading OCS Production is Cleaner, the trade groups claims were listed without attribution in a series of bullet points.

Sen. Bill Cassidy (R-LA) has also pushed these same points, saying that Gulf drilling pollutes less than gas operations in the Permian Basin of Texas and New Mexico. In an April interview with the industry podcast Capitol Crude, he cited an Obama administration factoid to argue that developing oil and gas in the outer continental shelf has the lowest emissions profile of any such field in the entire world.

Cassidy and the oil lobby are indeed referring to a 2016 Obama-era Department of Interior report. It compares the climate footprint of offshore drilling to the climate footprint of imported oil. It concludes that if the United States were to stop drilling in the Gulf overnight, climate pollution would increase slightly because foreign sources of oil would then fill the gap in demand.

But climate experts insist on a transition away from oil, not a 1:1 replacement. The same report also makes the case for transitioning away from oil altogether. It also said that emissions from offshore oil and gas could burn through an alarming 9 percent of the greenhouse gases that the US needed to allot itself to avert catastrophic climate change.

The oil industry has little actual evidence that drilling in the Gulf is any cleaner than alternatives. Though offshore oil is less studied than onshore oil, a number of studies have found higher-than-estimated pollutants, especially the potent greenhouse gas methane, leaking from these sites, both in US waters and other parts of the world. Erik Kort, a University of Michigan climate scientist whose research is supported in part by climate groups, said overall methane leakage is probably underestimated since there is no reliable data or monitoring for offshore regions.

The Government Accountability Office made a similar point in a recent report, finding serious problems with pollution detection and management in the Gulf of Mexico. It said the Department of the Interior does not generally conduct or require any subsea inspections of active pipelines, relying instead on less-reliable surface observations. And a Princeton study of eight platforms in the North Sea estimated more methane leaking from the sites than previous estimates. If that trend were to hold true for platforms across the UK, the researchers said it would add the rough emissions equivalent of 330,000 cars.

Korts most important point, though, is that its a mistake to focus solely on the emissions of oil and gas production. We cant ignore the climate impact of the actual burning of oil and gas. All fossil fuels do contribute, in the end, to greenhouse gases which warm the planet, he said.

Most oil and gas emissions around 90 percent come from combustion, not production, according to research by Richard Heede of the Climate Accountability Institute. So when lobbyists claim Gulf drilling is cleaner, theyre focused on a narrow sliver of oil and gas emissions the 10 percent or so that comes from extracting, refining, and delivering fuels.

The offshore industrys new tricks fit into the oil industrys long history of denying the science, impact, and solutions to climate change, Jesse Coleman, senior researcher at Documented, told Vox.

All the greenwashing and finger-pointing, Stockman said, hides whats absolutely clear from the climate science: that we need less oil and gas, not more.

Offshore oil groups arent the only ones taking a new interest in this style of greenwashing. Many oil and gas companies are taking a new interest in their climate impact as they make the case that theyre less bad than their competitors and that they could help displace dirtier fuels.

One of those companies is Pioneer Resources, the biggest company operating in the Permian Basin, which wrote in its 2020 sustainability report about responsibly extracted oil and gas. It was referring only to its methane releases at production sites.

Currently, emerging markets for responsibly extracted oil and gas are developing in the U.S. and Europe, the company report said. These markets may offer premium pricing for natural gas and oil with verifiable sustainability performance.

Other companies have sought to rebrand or tout their investments in carbon capture and storage. In January, the CEO of Occidental Petroleum Corporation, Vicki Hollub, described the company as a carbon management company, claiming its carbon-capture investments would provide the world with net-zero carbon oil. Denbury Inc. also claims to be an industry leader in reducing CO2 emissions with something called blue oil another name for carbon capture.

Then there is the liquified natural gas terminal under construction in the Rio Grande Valley of Texas, which the energy company NextDecade has called the greenest LNG project in the world. Outside the US, Canadas oldest oil and gas trade group, which represents oil sands interests that carry a particularly bad reputation for their carbon intensity, has dropped the word oil from its branding.

Some degree of run-of-the-mill competition within the oil industry is to be expected. US producers have always wrapped themselves in the flag, and said its better to produce our own oil than get it from Middle East producers, said Oil Change Internationals Stockman. Whats less familiar is to see this on the climate front, at a time when the industry is facing unprecedented pressure from the courtroom to the boardroom. This is really starting to happen in the last year, Stockman said.

Louisianas Gov. Edwards has himself pointed out that his state is on the front lines of climate change. The Gulf of Mexico already faces coastal erosion, hurricanes, and polluted air. Thats what makes it so strange that hes repeating the oil industrys narratives.

The consumer is what increases or decreases demand, and the market will naturally fill whatever supply is needed, Edwards noted in his presentation to the Biden administrations Department of Energy. Thats certainly what the oil industry wants people to think that fossil fuel companies are just innocent bystanders who are trying to meet consumer needs but the science is clear. Demand and supply of new oil and gas need to shrink, and fast. What were seeing now is the fight for a piece of that shrinking market.

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Offshore oil and its Democratic allies are greenwashing Gulf drilling - Vox.com

The UK and Norway are to cooperate on electricity interconnection and infrastructure that combines cross-border transmission with offshore wind generation in the North Sea.

UK Secretary of State for Business, Energy and Industrial Strategy, Kwasi Kwarteng (pictured) and the Norwegian Energy Minister Tina Bru revealed the plans in a joint statement today following their first in-person meeting in Oslo.

Todays commitment builds on what is already a transformative partnership between our two countries, making use of the extraordinary expertise we hold within the clean energy revolution to help fight climate change and create new business opportunities, they said.

This includes the development of carbon capture and storage underpinned by our bilateral memorandum of understanding signed in November 2018, the development of hydrogen technologies, and the opening up of our seas to unleash what is a ground-breaking new era of offshore wind power, the statement added.

It also noted that the two counties are celebrating the completion this month of the construction of the North Sea Link interconnector, with trading over the interconnector scheduled to start later this year.

Looking forward, we are committed to working together on further innovative opportunities to support our economies transition to clean, green energy as part of delivering our commitments under the Paris Agreement, the ministers said.

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UK, Norway to explore offshore wind links - reNEWS

Image: Wind Catching Systems

Forget the views from the top of the Eiffel Tower, soon you will get better views from the top of a wind turbine!

The Norwegian company Wind Catching Systems has unveiled an offshore wind structure, taller than the Eiffel Tower, that could drive down production costs and generate more energy than conventional wind turbines.

The floating multi-turbine technology consists of several 1MW turbines and once deployed on a large scale globally, is forecast to cut the size occupied by offshore wind installations on the seabed by 80%.

The company estimates just one unit of this solution could be five times as efficient as a conventional offshore wind turbine and could produce enough energy to power 80,000 homes.

The design is also predicted to reduce significantly carbon dioxide emissions associated with the construction and the maintenance of wind turbines.

That is because the solution has a 50-year life and it does not require vessels or cranes for its installation.

The project is currently in a technical testing phase and is expected to hit the market next year.

Ole Heggheim, Chief Executive Officer of Wind Catching Systems, said:Our goal is to enable offshore wind operators and developers to produce electricity at a cost that competes with other energy sources, without subsidies.

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Is offshore wind's future taller than the Eiffel Tower? - Energy Live News - Energy Made Easy

The state Senate and Assembly on Thursday approved a bill giving state regulators the authority to seize property or grant easements for transmission lines carrying electricity from offshore windmills to the power grid, even over local objections.

The companion bills, S3926 and A5894, authorize certain offshore wind projects to construct power lines and obtain real property interests; grants BPU authority to supersede certain local governmental powers upon petition from offshore wind project.

It now goes to the desk of Gov. Phil Murphy, a supporter of wind power who has set a target of generating 7,500 megawatts of electricity from windmills by 2035, enough to power 3.2 million homes. Wind power is a component of Murphys goal to reduce New Jerseys net carbon emissions to zero by the year 2050.

Transmission lines coming from the hundreds of windmills now proposed off New Jerseys Atlantic coast would have to cross through residential communities and environmentally sensitive shore areas to be connected to the power grid. And the bill, which gives the state Board of Public Utilities the authority to grant easements on behalf of private wind energy companies, has been opposed by conservation and consumer groups as well as local officials.

Some environmentalists support the bill as a necessary means of ensuring that the state is able to move toward clean energy and away from coal-burning power plants and other high-emissions energy sources.

The project closest to reality and the one thats drawn the most scrutiny is by an American subsidiary of the Danish power company Orsted in conjunction with PSEG, projected for completion in 2024. The project, known as Ocean Wind, would include nearly 100 offshore turbines, each roughly 900 feet tall, about 15 miles southeast of Atlantic City.

Business people and others have opposed the project, and the whole idea of offshore windmills, as a threat to the natural beauty of New Jerseys cherished coastline and the tourism industry that depends on it.

Nonetheless, with growing concern over climate change linked to carbon emissions and evidence that the sea level along the Jersey Shore is rising rapidly as a result both houses of the legislature approved the bill by roughly 2-1 margins on Thursday, with the Senate voting 25-12 followed by an Assembly vote of 49-26.

One of the bills key sponsors, Sen. Bob Smith, D-Middlesex, who chairs the Senate Environment and Energy Committee, expressed optimism that Murphy would sign it.

Smith applauded fellow lawmakers for their support despite the opposition, calling the approval, absolutely, positively the right thing to do.

Nobody knows Jersey better than N.J.com. Sign up to get breaking news alerts straight to your inbox.

Steve Strunsky may be reached at sstrunsky@njadvancemedia.com

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Bill meant to speed development of offshore windmills heads to governors desk - NJ.com

The Danish manufacturer Vestas has signed a deal to provide wind turbines for a 257MW offshore wind farm in the German Baltic Sea.

The company said it will use a new floating installation method for the Arcadis Ost 1 offshore wind project that will not require the typical jack-up vessel and could potentially be a gamechanger for the industry.

In collaboration with the green energy company Parkwind and the vessel operator Heerema Marine Contractors, a dual crane vessel will be used.

The new method, which enables dynamic lifting and installation of all turbine components,is designed to prevent challenges with the seabed by avoiding contact with it.

It can also make the installation faster.

Nils de Baar, President of Vestas Northern & Central Europe, said: The floating installation method we are utilising will potentially be a gamechanger for installing projects in deeper waters, saving time and further reducing the cost of offshore wind.

Projects like Arcadis Ost 1 will continue to deliver on Germanys offshore wind ambitions, to reach 20GW of installed wind by 2030.

If you enjoyed this story you can sign up to our weekly email forEnergy Live News and if youre interested in hearing more about the journey to net zero by 2050, you can also sign up to thefuture Net Zeronewsletter.

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Vestas secures deal for 257MW offshore wind in the German Baltic Sea - Energy Live News - Energy Made Easy

Technavio's report on "Offshore Decommissioning Market by Service and Geography - Forecast and Analysis 2020-2024" reveals that the market has the potential to reach USD 1.77 billion, progressing at a CAGR of almost 6%.

Leading Regional Analysis of Offshore Decommissioning Market 2020-2024:

Technavio identifies North Americaas the second-highest country, where the offshore decommissioning market will have the potential to reach USD 1.75 billion by 2024. Factors such as declining crude oil prices, aging platforms, and growing investments in decommissioning activities will drive the demand of the offshore decommissioning market in North America over the forecast period.

APACwill be the third-highestcountry, where the offshore decommissioning market will have the potential to reach USD 0.72 billion by 2024. Several offshore projects in APAC are likely to increase the potential for the offshore decommissioning market over the forecast period.

Enquire to know more about the global trends impacting the future of the market. https://www.technavio.com/talk-to-us?report=IRTNTR44314&type=enquire

Offshore Decommissioning Market in the Oil & Gas Equipment & Services Industry during 2020-2024: Vendor Analysis and Scope

To help businesses improve their market position, the offshore decommissioning market report provide a detailed analysis of around 25 vendors operating in the market. Some of these vendors include Aker Solutions ASA, General Electric Co., Halliburton Co., John Wood Group Plc, Oceaneering International Inc., Ramboll Group AS, Schlumberger Ltd., TechnipFMC Plc, TETRA Technologies Inc., and Weatherford International Plc

The report also covers the following areas:

Key Topics Covered

Related Report on Energy Include:

Global Offshore Oil and Gas Seismic Equipment and Acquisitions Market- The offshore oil and gas seismic equipment and acquisitions market is segmented by technology (3D seismic survey, 2D seismic survey, and 4D seismic survey) and geography (Europe, APAC, MEA, South America, and North America).Download Free Sample Report

Global Geothermal Drilling Market- The geothermal drilling market is segmented by application (binary plants and steam plants) and geography (Europe, APAC, North America, South America, and MEA).Download Free Sample Report

About Us Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact Technavio ResearchJesse MaidaMedia & Marketing ExecutiveUS: +1 844 364 1100UK: +44 203 893 3200Email: [emailprotected]Report Page: https://www.technavio.com/report/offshore-decommissioning-market-industry-analysis

SOURCE Technavio

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Europe to lead Offshore Decommissioning Market in the Oil & Gas Equipment & Services Industry|Technavio - PRNewswire

Its not just the production builders who have experienced a surge in demand from people who want to get afloat, low-volume yards like Haines have experienced a similar boost.

The arrival of the new Haines 36 Offshore couldnt have been timed much better as its flexible layout, twinned with inshore and offshore usability, make it a winner for those wanting to enjoy both sides of the boating coin.

Building in relatively small numbers with a team of dedicated craftspeople at its heart allows Haines to offer the sort of customisation typical on much larger boats.

The standard layout comprises a double cabin forward with a separate bathroom but, as an option, you can have a double cabin amidships so two more people can sleep on the lower deck. The saloon also converts into a double berth so you can sleep six adults aboard if required.

Article continues below

The offshore version of the Haines 32 more than lives up to its name, as Jack Haines found out on

The semi-displacement hull should feel as at home pottering up and down the Norfolk Broads as it does pounding through the North Sea and the engine options available reflect this.

With the standard single Volvo Penta D3 220hp top speed is 14 knots but opt for the twin arrangement and that jumps to around 20 knots, far more comfortable for offshore work. The single 370hp Yanmar V8 should offer performance and economy, too.

What stands out about the Haines 36 Offshore is its home from home comfort. There is masses of storage both on deck and inside, and with a proper seagoing galley on the lower deck and slide and stack cockpit doors, which create one large living area on the main deck, it should suit those who like to stay on board for extended periods of time.

LOA: 36ft 0in (10.97m)Beam: 12ft 4in (3.76m)Engines: Single/twin diesel up to 440hpTop speed: 20 knotsPrice from: 299,700 inc VAT

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Haines 36 Offshore first look: New model offers the best of both worlds - Motor Boat and Yachting

Offshore wind is emerging as a significant source of power in New Jersey. The state already has approved a 1,100-megawatt wind farm off the coast of Atlantic City, which could be operational by mid-decade. Next week, it could approve double that capacity in a new solicitation offered by the New Jersey Board of Public Utilities.

Those events could vault New Jersey into being a hub of the fast-growing offshore wind industry along the Eastern Seaboard, a goal repeatedly suggested during a wide-ranging discussion during last weeks NJ Spotlight News virtual roundtable. The event brought together clean-energy advocates, policymakers, offshore-wind developers, and marine biologists.

Opening remarks:

David Hardy, Chief Executive Officer, rsted Offshore North America

Panelists:

Gov. James J. Florio, Founding Partner, Florio Perrucci Steinhardt Cappelli Tipton & Taylor, Senior Fellow, Public Policy and Administration, Edward J. Bloustein Graduate School of Public Policy, Rutgers University

Dr. Josh Kohut, Professor, Center for Ocean Observing Leadership, Rutgers University

Kris Ohleth, Executive Director, Special Initiative on Offshore Wind

Doug OMalley, State Director, Environment New Jersey

Moderator:

Tom Johnson, Energy/Environment Writer, NJ Spotlight News

The following are edited excerpts from the conversation, including David Hardys opening remarks:

On prospects for offshore wind in New Jersey:

David Hardy: We share Gov. Murphys vision to establish New Jersey as a hub of the American offshore wind industry, and we strongly believe that it will happen. Were already seeing the benefits associated with bringing this new industry to the state with examples such as the Paulsboro Monopile facility in partnership with German foundation supplier EEW, which recently began construction.

Gov. Florio: The 30-year head start that the Europeans have over us in terms of getting this moving ahead turns out to be an advantage for us because we have learned from what they have done. We have benefitted from the technology benefits from. The cost saving that theyve yielded over that period of time. New Jersey is well situated to take advantage of these conditions as a leader.

Why offshore wind farms are likely to grow:

Kris Ohleth: This is a national initiative to get to, as the governor mentioned, 30 gigawatts of offshore wind power by the year 2030. That is the first time this is has been a national target for offshore wind power And it gives the opportunity for the industry to come into alignment The most responsible way to bring clean power to coastal states is through these resources that are directly adjacent to our coasts.

How will offshore wind impact the ocean and marine life:

Dr. Josh Kohut: When we think about offshore wind and where it is being deployed, we have to understand these dynamics because it is not just us and our interaction with the ocean, but its also the ecology, the wildlife, fisheries, many of the other organisms that we share this space with that also responding to that variability. And it becomes incredibly complex and something that really needs to be considered in the planning of offshore wind.

What offshore wind means for climate change:

Doug OMalley: I wanted to talk to briefly on the offshore wind and the context specifically of the climate crisis and the fact that obviously, when we think of the largest existential threat to this nation, certainly the state and the world, climate change is becoming the largest threat that we are facing, not just for our generation, but for generations hence.

And that is the kind of whole point I want to make here, is that we are in an existential race to be able to save the shore. We literally have billions of dollars of real estate, tens of thousands of homes in harms way, and the solutions that other communities are starting to address. But the simple reality is we cant build our way out of the climate crisis.

Will offshore wind increase bill for ratepayers:

Gov Florio: One of the concepts that were going to take into account, I suspect, is the whole idea of this cost benefit-analysis, making a determination as to what the real cost is of things you are experiencing. And in this situation, the externalities are very important. That is to say, the costs that you avoid when we go shifting from fossil fuels to clean energy like solar and wind, what you are doing is the net amount of money that you are paying ultimately is much, much reduced with the externalities of health consequences, other things associated with fossil fuels.

Reducing carbon footprint of generation of electricity:

Kris Ohleth: Whats different about offshore wind is 25 to 30 years of emissions-free energy, and no other resource can claim that type of awesome record while creating a new industry in the state of New Jersey. So Im not saying that there are not impacts because of any type of energy generation. But whats important to look at is compared to other resources, what is the best bang for the buck? And I think we see offshore wind really checking a lot of those boxes.

Sponsors:

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Offshore Wind in NJ: Meeting the states clean energy and economic goals - NJ Spotlight