The U.S. plans to step up its investment in coal, as President Trump doubles down on his commitment to bolster the fossil fuel industry.
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Mr. Trump on Thursday is expected to announce $700 million in funding for coal plants and energy infrastructure during an afternoon Oval Office event dubbed “Beautiful, Clean Coal.” A White House official confirmed the details of the plan, which was first reported by Bloomberg.
Mr. Trump will invoke the Defense Production Act, a Cold War-era law that gives the U.S. president emergency authority over domestic industries, to distribute $75 million for a new coal export terminal in Oakland, California, and $425 million to support 13 existing plants across 10 states: West Virginia, Kentucky, North Carolina, Indiana, Tennessee, Arkansas, Arizona, Oklahoman, North Dakota and Wisconsin.
The president is also expected to announce nearly $200 million in Department of Energy grants to build two new coal plants in Alaska and West Virginia and to restart a coal plant in Maryland. The facilities in Alaska and West Virginia would be the first new coal plants built in the U.S. since 2013.
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A White House official said the initiative will create thousands of jobs for miners, railroad workers, engineers and construction workers and save consumers $50 billion in energy generation costs.
Mr. Trump has long championed the benefits of exploiting U.S. fossil fuel resources. Since returning as president for a second time in 2025, he has moved to expedite oil and mining projects and open new drilling sites, while also scaling back investment in renewable energy.
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