Trump to spend $700M to boost U.S. coal production

President Trump will announce on Thursday that he’s invoking Cold War-era authorities to dole out $700 million in federal funds to boost coal production in the U.S.

Mr. Trump will use the Defense Production Act of 1950 to send $425 million to 13 existing coal plants and allocate $185 million to build two new coal plants, one in Alaska and the other in West Virginia.

An additional $75 million would also be made available under the DPA to help build the proposed West Gateway export terminal, which would be used to export 12 million tons of coal from the U.S. to other countries.

The 1950 law grants the president the authority to direct federal funds to industries deemed necessary for national security.

Among the companies that will benefit from the funding are utilities Duke Energy, Hallador Energy, Oklahoma Gas & Electric and at least one subsidiary of American Electric Power.

https://www.washingtontimes.com/news/2026/jun/4/donald-trump-spend-700m-boost-us-coal-production/