March 20 (Reuters) - U.S. efforts to build a domestic supply chain for solar energy components is stalled and will require urgent government action to support the factories needed to compete with China, according to a report published on Wednesday.

The analysis by Guidehouse Insights, commissioned by the Solar Energy Manufacturers for America Coalition, said existing federal subsidies and trade policies are not enough to help U.S. producers succeed in the face of a global glut of solar equipment.

Ocean City Mayor Rick Meehan is preemptively rejecting millions of dollars from an offshore wind company.

In an online statement, Meehan said the CEO of US Wind emailed him in December 2023 offering a benefits package. US Wind is behind MarWin, a projected that is expected to have up to 22 wind turbines more than 20 miles off the coast of Ocean City, according to the company.

The two firms behind a major offshore wind project decided to cancel a contract to supply power from the development on Wednesday, dealing a major blow to President Joe Biden’s massive green energy agenda.

Fossil fuels are ending 2023 with a bang.

On Wednesday, one week after world governments agreed at COP28 to “transition away from fossil fuels,” oil companies including Shell and Hess bid a collective $382 million for drilling rights in the Gulf of Mexico, the most for an auction there since 2015. The auction closely followed the release of data showing that U.S. oil production is now higher than in any country at any time in history, reaching about 13.3 million barrels per day in the fourth quarter.

The Energy Department on Monday announced $1.3 billion to help build three large power lines across six states, part of a new gusher of money from Washington to upgrade America’s electric grids so they can handle more wind and solar power and better tolerate extreme weather.

Large-scale clean energy projects from Pennsylvania to California have been selected by the Biden administration for a $7 billion program to kickstart development and production of hydrogen fuel, a key component of President Joe Biden’s agenda to slow climate change.

His goal is to establish seven regional hydrogen hubs to help replace fossil fuels such as coal and oil with cleaner-burning hydrogen as an energy source for vehicles, manufacturing and generating electricity.