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If you’ll recall: Republicans and some Democrats voted to overturn the DOL rule, but President Joe Biden vetoed the measure – keeping the policy in place. Democrats on the committee pushed back, arguing that Republican efforts to discourage ESG investing are infringing on financial players’ right to invest freely, and deflected attention toward Republicans who have proposed changes to Social Security.
“I believe that this hearing is based on an entirely false premise,” said Rep. Bill Pascrell.
Combined, the Ocean 1 and Ocean 2 projects would have brought 2,248 megawatts of offshore wind energy to the Garden State, and were seen as crucial to helping New Jersey Gov. Phil Murphy, a Democrat, deliver on his goal of reaching 100% clean power by 2035. The view from Trenton: “We’re close enough to the target,” Alexandra Wilkes, a spokeswoman for the New Jersey GOP, told the New York Times about winning a majority in tomorrow’s elections, but noted, “We have to hit the darts right every time.” Read more on the state elections here.
It’s a trend driven by rising global instability: Companies primarily cited elevated geopolitical risk as the reason for their desire to relocate operations, including Russia’s invasion in Ukraine, rising U.S.-China tensions, and Israel’s war with Hamas. The lines are part of STX Midstream, and provide natural gas to Mexico and parts of South Texas, Reuters reports.
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