Trump unveils coal revival plan, says major step towards lowering energy costs

Washington: US President Donald Trump has announced a sweeping package of measures aimed at expanding the coal industry, pledging federal support for coal plants, coal mines and export infrastructure while arguing that coal remains essential to America’s energy security and economic competitiveness.

Speaking at the White House, Trump described the initiative as a major step towards lowering energy costs and strengthening the nation’s electricity grid.

“Today, we’re taking historic action to bring down the price of energy and the cost of living for all Americans with the power of clean, beautiful coal,” Trump told reporters on Thursday.

The President announced a $700 million federal investment package that he said would support existing coal operations and encourage new development.

“As a result of the $700 million investment that I’m announcing today, we will protect 14 coal plants and 42 coal mines,” Trump said. “And build two new coal plants and one massive new export terminal.”

According to Trump, the measures will support employment across coal-producing regions.

“These actions will support over 14,000 jobs and save the American people $50 billion in electricity costs,” he said.

Trump also announced the use of emergency authorities to keep several coal-fired power stations operating.

“Today, we’re officially invoking the Defense Production Act to save 13 coal plants in West Virginia, Kentucky, North Carolina, Indiana, Tennessee, Arizona, Arkansas, Oklahoma, North Dakota and Wisconsin,” he said.

The administration said the action would allow facilities to modernise and continue operating for decades.

“Our action will allow these facilities to invest in upgrades,” Trump said. “It will extend their operational lives for decades into the future, reinforce the reliability of our electric grid.”

The President also highlighted a major export initiative.

“Starting this summer, the West Gateway project will break ground and by summer 2028, over 12 million tons of clean, beautiful coal per year will be shipped to countries all around the world,” he said.

Interior Secretary Doug Burgum said the administration had dramatically accelerated approvals for coal development.

“When you took office, the first thing you did was declare an energy emergency,” Burgum said. “We’ve slashed red tape.”

Burgum said there were “zero coal leases held in four years under the Biden administration” but that the Trump administration had approved “76” permits and leases.

Energy Secretary Chris Wright called coal indispensable to modern industry and electricity generation.

“Without clean, beautiful coal a modern world is impossible,” Wright said. “It’s been the largest source of global electricity for 125 years in a row, and will be for decades to come.”

Trump framed the initiative as part of a broader effort to support manufacturing, artificial intelligence and domestic energy production. He argued that reliable electricity supplies would be critical to maintaining America’s economic edge.

IANS