Trump to Unveil $700 Million Funding Boost for U.S. Coal Industry
Trump expected to announce $700M boost for coal
Image: The Hill
President Trump is poised to announce a $700 million funding initiative to support the coal industry, utilizing wartime authority to allocate funds for existing plants and new projects. This move aims to counter the declining use of coal in the U.S. amidst environmental concerns.
- 01Trump will allocate $425 million to support 13 existing coal plants and $75 million for a California export terminal.
- 02An additional $185 million in grant funding will be provided by the Energy Department for new coal plants in Alaska and West Virginia, and to restart a Maryland plant.
- 03Coal usage in the U.S. has decreased since its peak in 2007, raising environmental concerns due to pollution and climate change.
- 04The announcement is set for a Thursday event in the Oval Office, confirming earlier reports by Bloomberg.
- 05The Trump administration defends coal as a reliable energy source, despite its controversial environmental impact.
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President Trump is expected to announce a significant funding initiative of approximately $700 million aimed at revitalizing the coal industry during an event in the Oval Office. This funding will be allocated using wartime authority under the Defense Production Act, with $425 million designated for 13 existing coal plants and $75 million for an export terminal in California. Furthermore, the Energy Department will provide $185 million in grants to support the construction of two new coal plants in Alaska and West Virginia, as well as the restart of a coal plant in Maryland. The announcement comes at a time when coal power usage in the United States has been declining since its peak in 2007, primarily due to environmental concerns regarding pollution and climate change. Despite this, the Trump administration continues to advocate for coal, labeling it as a crucial source of reliable power, often referring to it as “clean” and “beautiful.” The plans were first reported by Bloomberg and confirmed by a White House official.
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The funding boost is expected to provide economic support to coal workers and communities reliant on coal production.
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