Fossil fuel profits are vital for green energy projects Dems routinely tout
Fox News
Oil and utility companies — which earn the vast majority of their profits from fossil fuel production, generation and sales — have invested billions of dollars in offshore wind.
"Offshore oil and gas companies play a key role in the investing in, scaling, and deploying of low carbon solutions, including offshore wind," National Ocean Industries Association (NOIA) President Erik Milito told Fox News Digital. Thomas Catenacci is a politics writer for Fox News Digital.
"Removing or restricting investment opportunities for the offshore oil and gas sector would eliminate a key source of engineering expertise, not to mention R&D funding that can find, scale, and deploy the solutions to many of the technical challenges currently associated with decarbonization efforts," Milito continued. "The future success of decarbonization efforts depends upon continued revenue generation from companies in the oil and gas sector."