07:20 AM EDT, 10/06/2025 (MT Newswires) -- Shell's (SHEL) president of US operations said that the Trump administration's decision to stop fully permitted offshore wind energy projects is "very damaging" to investment, The Financial Times reported Sunday, citing an interview.

"I think uncertainty in the regulatory environment is very damaging. However far the pendulum swings one way, it's likely that it's going to swing just as far the other way," Colette Hirstius, president of Shell USA said, according to the report.

In January, Shell exited the Atlantic Shores wind project off the coast of New Jersey, taking an almost $1 billion write-off, according to the report.

Shell continues to selectively develop renewable generation projects in the US and elsewhere when it can generate financial returns, the report added.

Hirstius said that the Trump administration's decision to reinstate annual lease sales was a "big step forward" that would encourage investment, according to the report.

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