Massive wind turbines are coming to a coast near you. Will Biden's 'audacious' goal pay off?

The Biden administration is making a big bet that 60-story wind turbines floating 20 miles or more off the nation’s coasts will produce a significant amount of cheap energy while creating new and lucrative industries. 

The initiative, announced last week, invests nearly $50 million to boost floating offshore wind turbine technology, an arena the U.S. has lagged in. It could propel the country to the forefront of cutting edge climate technology.