President Trump Utilizes Wartime Powers to Allocate $700 Million to Coal Industry
President Trump has announced a plan to allocate $700 million to support the U.S. coal industry, utilizing the Defense Production Act, a Cold War-era statute. This move aims to bolster coal-fired power plants and coal exports, marking the first new U.S. coal plants since 2013. The funds will support 13 coal plants across the country, help build new plants in Alaska and West Virginia, and restart a shuttered plant in Maryland. The initiative is expected to support or create over 14,000 jobs in coal, construction, rail, and maritime industries. The administration argues that this will reinforce the reliability of the U.S. electric grid, which is facing increased demand due to growth in data centers, artificial intelligence, and electric cars.