"BP and Equinor Abandon Empire Wind 2 Project Amid Economic Challenges"

Equinor and BP have terminated their contract for the Empire Wind 2 project off the coast of New York due to economic challenges such as inflation and supply chain issues. This decision is a setback for President Biden's ambitious green energy goals, which include deploying 30 gigawatts of offshore wind energy by 2030. The project's cancellation follows the approval of the first two large-scale offshore wind projects in U.S. history and the recent cancellation of Orsted's Ocean Wind projects, further impacting the administration's clean energy agenda.