June 4, 2026

Trump Announces $700 Million Coal Investment Amid Rising Energy Costs

President Trump is investing $700 million through the Defense Production Act to support coal-fired power plants and infrastructure in response to rising energy costs due to the war with Iran.
The funding will protect 14 coal plants and 42 coal mines, and includes plans for two new coal plants in Alaska and West Virginia, as well as a new coal export terminal in Oakland, California, projected to create over 1,400 jobs.
Trump claims this investment will save American consumers $50 billion in energy generation costs, while critics argue it will not lower energy prices and will exacerbate environmental issues.