# GCaptains article by Bloomsberg regarding Orsteds large losses **URL:** \ **Category:** Professional Mariner Forum\ **Created:** [August 31, 2023, 1:13am UTC](https://forum.gcaptain.com/t/gcaptains-article-by-bloomsberg-regarding-orsteds-large-losses/66999 "2023-08-31T01:13:39Z")\ **Posts on this page:** 17\ **Page:** 5
**Author:** ![powerabout](https://avatars.discourse-cdn.com/v4/letter/p/43a26b/32.png) [@powerabout](https://forum.gcaptain.com/u/powerabout)\ **Post date:** [September 6, 2023, 11:25pm UTC](https://forum.gcaptain.com/t/gcaptains-article-by-bloomsberg-regarding-orsteds-large-losses/66999/81 "2023-09-06T23:25:20Z")
I dont agree with him on everything but when he was finance minister he found out how crooked the EU was and continues to find out. No connection to Australia as far as I know ---
**Author:** ![powerabout](https://avatars.discourse-cdn.com/v4/letter/p/43a26b/32.png) [@powerabout](https://forum.gcaptain.com/u/powerabout)\ **Post date:** [September 7, 2023, 12:10am UTC](https://forum.gcaptain.com/t/gcaptains-article-by-bloomsberg-regarding-orsteds-large-losses/66999/82 "2023-09-07T00:10:41Z")
> [@ombugge](#): > > I don’t understand where electricity and heating as a CO2 source come from. (??) > > All electricity used on mainland Norway is renewable (Hydro, onshore wind) and the heating is mostly by electricity, wood burning and waste heat from incinerators (no coal, but a few oil burning central heating) > Heat pumps for privat home heating and solar panels for lights at the weekend cabins are common. > > No Gas powered electricity, except on the offshore platforms and the LNG plant at Melkøya. > Even that is slowly being changed, with the cables from shore and floating wind turbines in the fields. > PS\> Electrifying Melkøya is a bit of a political controversy in the present election season: Agreed its hard to understand where the Co2 output is coming from but wherever you look the data agrees. Are they adding lng processing which dumps lots of Co2? ---
**Author:** ![SeaEagle](https://sea2.discourse-cdn.com/flex016/user_avatar/forum.gcaptain.com/seaeagle/32/17788_2.png) [@SeaEagle](https://forum.gcaptain.com/u/SeaEagle)\ **Post date:** [September 7, 2023, 12:57am UTC](https://forum.gcaptain.com/t/gcaptains-article-by-bloomsberg-regarding-orsteds-large-losses/66999/83 "2023-09-07T00:57:47Z")
Do tell, politics are involved in all this mess? I beg to not differ. ---
**Author:** ![ombugge](https://sea2.discourse-cdn.com/flex016/user_avatar/forum.gcaptain.com/ombugge/32/11217_2.png) [@ombugge](https://forum.gcaptain.com/u/ombugge)\ **Post date:** [September 7, 2023, 9:49am UTC](https://forum.gcaptain.com/t/gcaptains-article-by-bloomsberg-regarding-orsteds-large-losses/66999/84 "2023-09-07T09:49:53Z")
> [@powerabout](#): > > I dont agree with him on everything Apparently you are not alone: > **[Former Greek Finance Minister Varoufakis attacked in central Athens](https://www.politico.eu/article/greece-former-finance-minister-yanis-varoufakis-attack-athens-diem25/)** > > Varoufakis, leader of DiEM25 party, blamed the assault on ‘thugs.’ So you pick and choose what which part of his rather large collection of videos you think fit your point of view in the discussion of the day? I’m surprised!!! > [@powerabout](#): > > No connection to Australia as far as I know He lived and worked in Sydney for many year and hold (held?) both Australian and Greek passports > [@](#): > > From 1989 to 2000, he taught as senior lecturer in economics at the Department of Economics of the University of Sydney, with short stints at the [University of Glasgow](https://en.wikipedia.org/wiki/University_of_Glasgow) and the [University of Louvain](https://en.wikipedia.org/wiki/UCLouvain) (UCLouvain). Varoufakis, during his time in Sydney, had his own slot on a local television show where he was critical of [John Howard](https://en.wikipedia.org/wiki/John_Howard)’s conservative government. > **He also acquired Australian citizenship.** Source: [Yanis Varoufakis - Wikipedia](https://en.wikipedia.org/wiki/Yanis_Varoufakis) ---
**Author:** ![ombugge](https://sea2.discourse-cdn.com/flex016/user_avatar/forum.gcaptain.com/ombugge/32/11217_2.png) [@ombugge](https://forum.gcaptain.com/u/ombugge)\ **Post date:** [September 7, 2023, 11:05am UTC](https://forum.gcaptain.com/t/gcaptains-article-by-bloomsberg-regarding-orsteds-large-losses/66999/85 "2023-09-07T11:05:18Z")
If the US market should prove to be too difficult to operate in there are opportunities in other parts of the world for both Ørsted, Equinor, BP and the other foreign companies that partner with American operators to bring Offshore Wind Power to the US consumers. Here is a list of the opportunities: > **[Global Offshore Wind Farms Database | 4C Offshore](https://www.4coffshore.com/windfarms/)** > > 4C Offshore’s Global Offshore Wind Farm Database is the world’s largest online database, covering over 2000 offshore wind farms across 53 countries. That includes the new and exiting Floating Wind Farm sector that can bring green electricity to places with short continental shelf with suitable water depth for bottom supported turbines: [https://www.offshore-mag.com/renewable-energy/article/14282576/floating-offshore-wind](https://www.offshore-mag.com/renewable-energy/article/14282576/floating-offshore-wind) ---
**Author:** ![powerabout](https://avatars.discourse-cdn.com/v4/letter/p/43a26b/32.png) [@powerabout](https://forum.gcaptain.com/u/powerabout)\ **Post date:** [September 7, 2023, 12:01pm UTC](https://forum.gcaptain.com/t/gcaptains-article-by-bloomsberg-regarding-orsteds-large-losses/66999/86 "2023-09-07T12:01:45Z")
> [@ombugge](#): > > So you pick and choose what which part of his rather large collection of videos you think fit your point of view in the discussion of the day? I’m surprised!!! that was just some facts as presented by someone that investigated the issue. ---
**Author:** ![powerabout](https://avatars.discourse-cdn.com/v4/letter/p/43a26b/32.png) [@powerabout](https://forum.gcaptain.com/u/powerabout)\ **Post date:** [September 7, 2023, 12:03pm UTC](https://forum.gcaptain.com/t/gcaptains-article-by-bloomsberg-regarding-orsteds-large-losses/66999/87 "2023-09-07T12:03:02Z")
> [@ombugge](#): > > He lived and worked in Sydney for many year and hold (held?) both Australian and Greek passports Check out his grandparents and maybe what brand toothpaste he uses as well, that could be relevant in your view as well, what are you smoking? ---
**Author:** ![Kennebec\_Captain](https://sea2.discourse-cdn.com/flex016/user_avatar/forum.gcaptain.com/kennebec_captain/32/13_2.png) [@Kennebec\_Captain](https://forum.gcaptain.com/u/Kennebec_Captain)\ **Post date:** [September 12, 2023, 1:06pm UTC](https://forum.gcaptain.com/t/gcaptains-article-by-bloomsberg-regarding-orsteds-large-losses/66999/88 "2023-09-12T13:06:02Z")
7 posts were split to a new topic: [Quitting Smoking](https://forum.gcaptain.com/t/quitting-smoking/67115) ---
**Author:** ![SeaEagle](https://sea2.discourse-cdn.com/flex016/user_avatar/forum.gcaptain.com/seaeagle/32/17788_2.png) [@SeaEagle](https://forum.gcaptain.com/u/SeaEagle)\ **Post date:** [September 7, 2023, 10:23pm UTC](https://forum.gcaptain.com/t/gcaptains-article-by-bloomsberg-regarding-orsteds-large-losses/66999/92 "2023-09-07T22:23:56Z")
Don’t get me wrong regarding wind power. I am not for offshore wind for numerous reasons. Land based is much more reasonable for again…numerous reasons. ---
**Author:** ![Ladder](https://avatars.discourse-cdn.com/v4/letter/l/a9a28c/32.png) [@Ladder](https://forum.gcaptain.com/u/Ladder)\ **Post date:** [September 7, 2023, 11:03pm UTC](https://forum.gcaptain.com/t/gcaptains-article-by-bloomsberg-regarding-orsteds-large-losses/66999/93 "2023-09-07T23:03:03Z")
Does the USA even need offshore wind when the onshore wind capacity is so vast? Offshore wind makes more sense in Europe because the population density is much higher and there isn’t much space for onshore, but the US has plenty of space onshore. According to the National Renewable Energy Laboratory, the contiguous United States has the potential for 10,459 GW of onshore wind power. The capacity could generate 37 petawatt-hours (PW·h) annually, an amount nine times larger than current total U.S. electricity consumption… ---
**Author:** ![powerabout](https://avatars.discourse-cdn.com/v4/letter/p/43a26b/32.png) [@powerabout](https://forum.gcaptain.com/u/powerabout)\ **Post date:** [September 7, 2023, 11:58pm UTC](https://forum.gcaptain.com/t/gcaptains-article-by-bloomsberg-regarding-orsteds-large-losses/66999/94 "2023-09-07T23:58:57Z")
and what did that have to do with anything? ---
**Author:** ![SeaEagle](https://sea2.discourse-cdn.com/flex016/user_avatar/forum.gcaptain.com/seaeagle/32/17788_2.png) [@SeaEagle](https://forum.gcaptain.com/u/SeaEagle)\ **Post date:** [September 8, 2023, 12:18am UTC](https://forum.gcaptain.com/t/gcaptains-article-by-bloomsberg-regarding-orsteds-large-losses/66999/95 "2023-09-08T00:18:05Z")
A close relative is a manager of a team that services over 500 land based wind units in Washington State. The CEO says no effing way are we going offshore. Too costly. The area does enjoy some of the lowest utility rates in the country. But strangely enough… some of the highest gasoline prices in the nation, mostly due to the insane taxes on the product . Glad he has a company vehicle. ---
**Author:** ![powerabout](https://avatars.discourse-cdn.com/v4/letter/p/43a26b/32.png) [@powerabout](https://forum.gcaptain.com/u/powerabout)\ **Post date:** [September 8, 2023, 3:31am UTC](https://forum.gcaptain.com/t/gcaptains-article-by-bloomsberg-regarding-orsteds-large-losses/66999/96 "2023-09-08T03:31:46Z")
So green power doesnt work when its cold or hot lol? [![](https://us1.discourse-cdn.com/flex016/uploads/gcaptain_maritime_forum/original/3X/a/7/a7b7cb74850899d84fb8bf40db23a1f14d4d510b.jpeg "Texas Declares Energy Emergency, On Edge of Blackouts") ](https://www.youtube.com/watch?v=h0YU42jW7gU) ---
**Author:** ![Kennebec\_Captain](https://sea2.discourse-cdn.com/flex016/user_avatar/forum.gcaptain.com/kennebec_captain/32/13_2.png) [@Kennebec\_Captain](https://forum.gcaptain.com/u/Kennebec_Captain)\ **Post date:** [September 8, 2023, 11:42am UTC](https://forum.gcaptain.com/t/gcaptains-article-by-bloomsberg-regarding-orsteds-large-losses/66999/97 "2023-09-08T11:42:06Z")
> **[Our climate change debates are out of date](https://www.noahpinion.blog/p/our-climate-change-debates-are-out#:)** > > Solar and batteries are going to win, and our thinking needs to adjust accordingly. ---
**Author:** ![cjf1980](https://avatars.discourse-cdn.com/v4/letter/c/4da419/32.png) [@cjf1980](https://forum.gcaptain.com/u/cjf1980)\ **Post date:** [September 8, 2023, 8:13pm UTC](https://forum.gcaptain.com/t/gcaptains-article-by-bloomsberg-regarding-orsteds-large-losses/66999/98 "2023-09-08T20:13:53Z")
> [@Kennebec\_Captain](#): > > The Inflation Reduction Act of 2022 includes [subsidies for nuclear power.](https://www.bclplaw.com/en-US/events-insights-news/inflation-reduction-act-expands-support-for-nuclear-power-plants.html#:~) Watch [https://www.youtube.com/watch?v=htoNuyYjNwg](https://www.youtube.com/watch?v=htoNuyYjNwg). Vivek Ramaswamy break it down for us. Got to give it to him… He has my vote. ---
**Author:** ![ombugge](https://sea2.discourse-cdn.com/flex016/user_avatar/forum.gcaptain.com/ombugge/32/11217_2.png) [@ombugge](https://forum.gcaptain.com/u/ombugge)\ **Post date:** [September 9, 2023, 12:52pm UTC](https://forum.gcaptain.com/t/gcaptains-article-by-bloomsberg-regarding-orsteds-large-losses/66999/99 "2023-09-09T12:52:41Z")
From a Bloomberg article appearing in gcaptain News today: > **[US Offshore Wind Slammed by Runaway Costs](https://gcaptain.com/us-offshore-wind-slammed-by-runaway-costs/?subscriber=true&goal=0_f50174ef03-a31999026b-169863069&mc_cid=a31999026b&mc_eid=4674ba0fbe)** > > The US offshore wind industry, banking on a big boost from the landmark Inflation Reduction Act, has found itself face-to-face with a major hurdle that’s been right there in the name all along: inflation.In fact, the law might even be making it... > [@](#): > > Other companies are already pulling the plug on some deals. Shell Plc and its joint-venture partners agreed last week to pay more than $60 million in penalties to exit a contract for their 800-megawatt SouthCoast Wind project near Massachusetts. Avangrid Inc. in July agreed to pay $49 million to cancel a contract for its 1.2 gigawatt Commonwealth project, also off the coast of Massachusetts. **The developers had signed long-term power purchase agreements to supply electricity, but those deals were based on being able to line up financing and suppliers at certain levels.** > > Offshore wind is uniquely vulnerable in the green-energy sector because it is at such an early stage in the US, **springing up faster than port infrastructure, installation vessels and domestic supply chains that are still being built.** The interest rate and inflation is not within the realms of any company to control. To demand “Make in America” when there are no domestic supplies available is just not feasible. These companies are in the business to make a profit, not only to save the planet. PS\> Ørsted is the former Dong Energy (Dansk Olie og Natrurgas A/S): > **[DONG Energy changes name as it exits oil and gas business](https://www.offshore-energy.biz/dong-energy-changes-name-as-it-exits-oil-and-gas-business/)** > > Danish energy company DONG Energy has decided to change its name following last week’s completion of the upstream oil and gas business sale, which also marked the company’s exit from the oil and gas business overall. To remind, DONG Energy on Friday... Only one of the companies mentioned above (Avangrid) is an electric power company, the others are all Oilcos that is looking at diversifying their business away from Oil & Gas. ---
**Author:** ![ombugge](https://sea2.discourse-cdn.com/flex016/user_avatar/forum.gcaptain.com/ombugge/32/11217_2.png) [@ombugge](https://forum.gcaptain.com/u/ombugge)\ **Post date:** [September 20, 2023, 8:57pm UTC](https://forum.gcaptain.com/t/gcaptains-article-by-bloomsberg-regarding-orsteds-large-losses/66999/100 "2023-09-20T20:57:07Z")
> **[Cost crunch prompts mass rethink of US offshore wind contracts](https://www.reuters.com/business/energy/cost-crunch-prompts-mass-rethink-us-offshore-wind-contracts-2023-09-13/)** > > Squeezed by rising global supply costs, offshore wind developers are seeking new power contract terms on at least ten East Coast projects in a further blow to President Biden's climate targets. One of the crunch points: > [@](#): > > Local factories > The global cost challenges faced by developers increases the importance of a domestic U.S. offshore wind supply chain. > Around 2,100 turbines and foundations, 6,800 miles of cable, 58 crew transfer vessels and four to six turbine installation vessels are required to meet President Biden’s 2030 offshore wind target, the National Renewable Energy Laboratory (NREL) said. The 10% tax credit for domestic content aims to accelerate factory build and many states are requiring developers to make commitments to regional supply chain development in power agreements. A number of new manufacturing facilities and vessels are now planned but major port expansions will be required to assemble and launch large turbine structures and it will take time to build out a comprehensive regional supply chain. A lack of wind turbine installation vessels remains a significant issue for developers and NREL has warned some components will require significant efforts to supply domestically, including steel plates to be rolled into monopiles or towers, mooring chains and electrical systems for offshore substations.The U.S. has laid the foundations for a strong offshore wind industry thanks to federal incentives, efforts to accelerate permitting and strong state demand for offshore wind, Sam Salustro, vice president of communications at the Business Network for Offshore Wind told Reuters Events.In the short term, states and developers will need to be flexible to ensure projects move forward."Weathering this current storm and ensuring future economic turmoil do not roil the industry again requires smart policies and procurements out of states and a robust, domestic supply chain to help keep our projects on track,” Salustro said. [Previous page](https://forum.gcaptain.com/t/gcaptains-article-by-bloomsberg-regarding-orsteds-large-losses/66999.md?page=4)