Skip to Content News Archives Economy Energy Oil & Gas Renewables Electric Vehicles Mining Commodities Agriculture Real Estate Mortgages Mortgage Rates Finance Banking Insurance Fintech Cryptocurrency Work Wealth Smart Money Wealth Management Investor Personal Finance Family Finance Retirement Taxes High Net Worth FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials More Innovation Information Technology FP500 Podcasts Small Business Lives Told Tails Told Shopping Financial Post Store Obituaries Place a Notice Advertising Advertising With Us Advertising Solutions Postmedia Ad Manager Sponsorship Requests Classifieds Place a Classifieds ad Working Profile Settings My Subscriptions Saved Articles My Offers Newsletters Customer Service FAQ News Economy Energy Mining Real Estate Finance Work Wealth Investor FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials HomePMN BusinessTrump Plans $700 Million Push to Build Coal Plants, Export SitePresident Donald Trump is preparing to use Cold War-era authorities to dole hundreds of millions of federal dollars to support coal-fired electricity as well as US exports of the fossil fuel.Author of the article: You can save this article by registering for free here. Or sign-in if you have an account.A coal plant in London, West Virginia, in 2022. Photographer: Dane Rhys/Bloomberg Photo by Dane Rhys /Photographer: Dane Rhys/Bloomber(Bloomberg) — President Donald Trump is preparing to use Cold War-era authorities to dole hundreds of millions of federal dollars to support coal-fired electricity as well as US exports of the fossil fuel. Subscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.Subscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountorTrump is expected to announce he’s delivering the funding for US coal plants and an American export terminal under the 1950 Defense Production Act during an Oval Office event Thursday, according to a White House official who asked for anonymity because the plan isn’t yet public. Lawmakers and governors from coal-rich states, including Wyoming and West Virginia, have been invited to the White House for the session. Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againTrump’s planned initiative is set to include the distribution of $425 million in DPA funds to 13 existing coal plants and separate Energy Department grants to help build two more in Alaska and West Virginia. Another $75 million also would be made available under the Defense Production Act for the proposed West Gateway export terminal in Oakland, California, opening a new avenue to ship potentially 12 million tons of coal from Wyoming, Montana and other states outside the western US. Beneficiaries of the planned funding are set to include the long-planned Oakland Bulk and Oversized Terminal in California, as well as utilities Duke Energy Corp., Hallador Energy Co., Oklahoma Gas & Electric Co. and at least one subsidiary of American Electric Power Company Inc.. The planned funding marks the latest bid by Trump to revive fortunes for coal mined in the US as well as electricity made from it. During his second term in the White House, Trump has relentlessly championed an American energy dominance agenda that’s rooted in producing, using and exporting more of the nation’s oil, gas and coal reserves.Under Trump, the US Energy Department has issued emergency orders directing coal plants to keep producing power past planned closure dates, arguing the continued operations are necessary to buttress the reliability of the nation’s electric grid. The Interior Department has also moved to open more federal land for coal leasing in North Dakota, Montana and Wyoming. And Trump has directed Defense Secretary Pete Hegseth to enter into agreements to purchase electricity from coal plants to power military operations. Environmentalists who’ve criticized the Trump administration moves insist the US is wrongly prolonging its reliance on fossil fuels that generate planet-warming pollution and drive climate change instead of supporting emission-free alternatives they say are more cost effective. Conservationists also have fought nearly two decades of plans for an export terminal in California, arguing it will sustain the world’s demand for fossil fuels while also polluting local communities, as coal dust filters off uncovered rail cars that would supply the site. Trump frequently extols “clean, beautiful coal,” and he’s argued that electricity from coal is necessary to feed the country’s emerging artificial intelligence sector and its growing demand for energy-hungry computing power. Interior Secretary Doug Burgum has cast winning the AI race as a national security imperative and coal power as an essential ingredient.Related: Trump Officials Vow to Keep All US Coal Plants RunningCoal plants set to receive $425 million in Defense Production Act funding include sites in West Virginia, Kentucky, North Carolina, Indiana, Tennessee, Arkansas, Arizona, Oklahoma, North Dakota and Wisconsin, the White House official said. Although full details of the planned funding weren’t immediately available, the money could be used to support upgrades at the sites, the official added. Trump has moved more aggressively to seize authorities under the Defense Production Act, a law initially used by former President Harry Truman to increase steel production during the Korean War. The statute previously has been invoked to accelerate production of face masks during the Covid-19 pandemic, support US solar power deployment and expand supplies of baby formula during a national shortage. But Trump has increasingly used the law to support domestic energy priorities, including restarting oil production off California’s coast. Trump also is set to announce the award of an additional $185 million in Energy Department grant funding to help build two new coal plants in Alaska and West Virginia, as well as restart the AES Warrior Run generating station near Cumberland, Maryland. The potential new plants — which could become the first of their kind built in the US since 2013 — are being pursued by Terra Energy Center Corp. in Alaska and TerraPurus Inc. in Mount Storm, West Virginia, the White House official said. Under the grants, the companies would put up additional matching funds, bringing total planned spending to $386 million. The planned government funding is seen helping drive production of coal-fired electricity, thereby increasing demand for coal that had declined for years as utilities shifted toward cheaper natural gas and renewables. Although coal once accounted for more than half of US electricity generation, that share fell to about 17% last year. Join the Conversation This website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.