President Trump to Announce $700 Million Investment in Coal Plants and Export Terminal
President Trump is set to announce a significant $700 million investment aimed at bolstering the coal industry in the United States. This initiative will be unveiled during an Oval Office event titled 'Beautiful, Clean Coal.' The plan involves utilizing the Defense Production Act to allocate $75 million for a new coal export terminal in Oakland, California, and $425 million to support 13 existing coal plants across ten states, including West Virginia, Kentucky, and North Carolina. Additionally, nearly $200 million in Department of Energy grants will be directed towards constructing new coal plants in Alaska and West Virginia, as well as restarting a coal plant in Maryland. This marks the first new coal plant construction in the U.S. since 2013. The initiative is expected to create thousands of jobs and save consumers $50 billion in energy costs.