The abrupt halt of Ørsted’s Revolution Wind project off Rhode Island has become one of the most striking examples yet of political interference derailing sound economic logic. This was not a struggling venture or a risky experimental bet. It was a nearly complete, multi-billion-dollar project designed to deliver clean power to more than 350,000 households. Eighty percent of the turbines were already in place, the investment had largely been sunk, and the project had a clear pathway to profitability. Yet the U.S. government ordered a stop, citing vague national security concerns. The decision has rattled markets, hammered Ørsted’s stock, and left observers questioning how reliable the American policy environment is for large-scale energy investments.
Economic Sense, Political Nonsense
For Ørsted, the project represented both a cornerstone of its U.S. ambitions and a test case for its ability to scale offshore wind in…
