United States President Donald Trump has announced a $700 million investment package aimed at boosting the country’s coal sector, describing the move as part of efforts to strengthen energy security and reduce rising energy costs.
Speaking at the White House on Thursday, Trump said the initiative would support existing coal facilities, expand mining operations, and fund the construction of new coal-powered plants. The administration plans to finance much of the programme through the Defense Production Act, a law that allows the federal government to back industries considered essential to national security.
According to the president, $500 million will be directed toward keeping 14 coal-fired power plants operational, supporting 42 coal mines, and developing a new coal export terminal in California. An additional $200 million from the Department of Energy will be used to build coal plants in Alaska and West Virginia.
If completed, the projects would mark the first construction of new coal-fired power plants in the United States in more than a decade.
Trump argued that coal remains a reliable source of energy and said the investment would help lower electricity generation costs while protecting jobs in the energy sector. He estimated that the programme could support roughly 14,000 jobs, including more than 1,400 positions linked to the proposed export terminal in Oakland, California.
The coal facilities slated to receive support are located across several states, including Kentucky, North Carolina, Indiana, Tennessee, Arkansas, Arizona, Oklahoma, North Dakota, Wisconsin and West Virginia.
The announcement comes as energy prices continue to rise following tensions in the Middle East and disruptions to global energy supplies. The conflict involving Iran and the closure of the Strait of Hormuz have increased concerns over oil and gas availability, contributing to higher fuel costs.
Recent data show that gasoline prices in the United States have risen significantly since the escalation of the conflict, while broader consumer energy costs have also recorded sharp increases over the past year.
The Trump administration maintains that expanding domestic coal production will help shield American consumers from future energy price shocks and reduce dependence on external energy sources.
