Trump plans $700M in new spending for struggling coal industry

Key Points:

• President Donald Trump plans to invest nearly $700 million to support 13 coal-fired power plants nationwide, build new coal plants in Alaska and West Virginia, restart a plant in Maryland, and construct a coal export terminal in Oakland, California, aiming to create or support over 14,000 jobs.
• The administration will invoke the 1950 Defense Production Act to bolster the coal industry, marking the first new U.S. coal plants since 2013, as part of Trump’s broader effort to reverse the long-term decline of coal amid competition from natural gas and renewables.
• Environmental groups criticized the move, arguing it prioritizes polluters, increases electricity costs, and harms air quality, while coal industry representatives contend that coal generation helps stabilize energy prices and supply amid growing demand.
• Coal’s share of U.S. electricity generation has fallen from about 45% in 2010 to roughly 15% in 2024, with natural gas and renewables making up the majority, and U.S. coal exports have declined partly due to tariffs and global market challenges.
• Efforts to expand coal exports on the West Coast face opposition from local communities and advocacy groups concerned about environmental and health impacts, particularly regarding the proposed coal export terminal in Oakland.