Trump Unveils $700 Million for Coal Plants and Export Terminal Using Defense Production Act
Updated
Updated · CBS New York · Jun 4
Trump Unveils $700 Million for Coal Plants and Export Terminal Using Defense Production Act
3 articles · Updated · CBS New York · Jun 4
Summary
$700 million in federal support is set to be announced Thursday for coal infrastructure, including aid for 13 existing plants, a new export terminal in Oakland and three plant projects in Alaska, West Virginia and Maryland.
The package uses the Defense Production Act to direct $75 million to the Oakland terminal and $425 million across plants in 10 states, while the Energy Department provides nearly $200 million in separate grants.
Two of the funded projects in Alaska and West Virginia would become the first new U.S. coal plants built since 2013, while the Maryland money would restart an existing facility.
The White House says the initiative will create thousands of mining, rail, engineering and construction jobs and cut energy generation costs by $50 billion as Trump deepens support for fossil fuels in his second term.