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Ørsted CEO: Political gridlock threatens US offshore wind

Ørsted plans to realize its current projects without any aid from the stalled Build Back Better plan, but it'll be difficult to ensure returns in a future with rising inflations, says Mads Nipper. However, he remains confident that the climate aspects of the package will be adopted.

Ørsted's Chief Executive Officer, Offshore, David Hardy (top left) attended Joe Biden's signing of an executive order on unionized labor on infrastructure projects on Friday. | Photo: Chip Somodevilla/AFP/Ritzau Scanpix

A few hours after Mads Nipper gave an interview on Ørsted's 2021 financial results last Wednesday, another interview took place around 5,500 km to the west. This interview, which was much shorter, involved the Democratic senator of West Virginia, Joe Manchin, who was once again asked about President Joe Biden's trillion-dollar Build Back Better plan, which he pulled the plug on when refusing to give his decisive vote, thereby preventing a majority.

"It's dead," he told the Business Insider.

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