Energy giants BP and Equinor have reported significant impairments on their US offshore wind power portfolios, highlighting the challenges facing the renewable energy industry. Danish company Orsted has also warned of impairments due to supply delays, high-interest rates, and a lack of tax credits. These setbacks raise questions about the future of offshore wind projects in the US, which President Joe Biden has championed as part of his climate change agenda. The industry has faced obstacles including inflation, financing costs, and insufficient subsidies, leading developers to renegotiate contracts or withdraw from projects.