US President Donald Trump has unveiled a $700 million investment package aimed at revitalising the country’s coal industry, invoking emergency wartime powers to fund the initiative amid rising energy costs.
Speaking at the White House, Trump said the investment is intended to strengthen America’s energy security, lower electricity costs and support domestic coal production as global energy markets face uncertainty following the conflict with Iran.
The funding will be delivered through the Defense Production Act, a Cold War-era law that allows the president to direct resources toward industries deemed essential to national security.
Under the plan, $500 million will be allocated to preserve 14 existing coal-fired power plants, support 42 coal mines and develop a new coal export terminal in California. An additional $200 million will be invested in the construction of new coal power plants in Alaska and West Virginia, marking the first new coal plant developments in the United States since 2013.
Trump said the initiative is expected to create thousands of jobs, including more than 1,400 positions linked to the proposed export terminal in Oakland, California. Overall, the programme is projected to support around 14,000 jobs nationwide.
The president argued that coal remains a critical component of reliable energy production and claimed the investment could save American consumers billions of dollars in future energy costs.
The announcement comes as energy prices continue to rise following disruptions linked to the Iran conflict and the closure of the Strait of Hormuz, a key maritime route for global oil and gas shipments. According to US data, fuel prices have increased significantly in recent weeks, placing additional pressure on households and businesses.
Coal facilities set to benefit from the investment are located across several states, including Kentucky, North Carolina, Indiana, Tennessee, Arkansas, Arizona, Oklahoma, North Dakota, Wisconsin and West Virginia.
