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(Bloomberg) — President Donald Trump is preparing to use Cold War-era authorities to dole hundreds of millions of federal dollars to support coal-fired electricity as well as US exports of the fossil fuel.
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Trump is expected to announce he’s delivering the funding for US coal plants and an American export terminal under the 1950 Defense Production Act during an Oval Office event Thursday, according to a White House official who asked for anonymity because the plan isn’t yet public.
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Lawmakers and governors from coal-rich states, including Wyoming and West Virginia, have been invited to the White House for the session.
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Trump’s planned initiative is set to include the distribution of $425 million in DPA funds to 13 existing coal plants and separate Energy Department grants to help build two more in Alaska and West Virginia. Another $75 million also would be made available under the Defense Production Act for the proposed West Gateway export terminal in Oakland, California, opening a new avenue to ship potentially 12 million tons of coal from Wyoming, Montana and other states outside the western US.
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Beneficiaries of the planned funding are set to include the long-planned Oakland Bulk and Oversized Terminal in California, as well as utilities Duke Energy Corp., Hallador Energy Co., Oklahoma Gas & Electric Co. and at least one subsidiary of American Electric Power Company Inc..
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The planned funding marks the latest bid by Trump to revive fortunes for coal mined in the US as well as electricity made from it. During his second term in the White House, Trump has relentlessly championed an American energy dominance agenda that’s rooted in producing, using and exporting more of the nation’s oil, gas and coal reserves.
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Under Trump, the US Energy Department has issued emergency orders directing coal plants to keep producing power past planned closure dates, arguing the continued operations are necessary to buttress the reliability of the nation’s electric grid. The Interior Department has also moved to open more federal land for coal leasing in North Dakota, Montana and Wyoming. And Trump has directed Defense Secretary Pete Hegseth to enter into agreements to purchase electricity from coal plants to power military operations.
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Environmentalists who’ve criticized the Trump administration moves insist the US is wrongly prolonging its reliance on fossil fuels that generate planet-warming pollution and drive climate change instead of supporting emission-free alternatives they say are more cost effective. Conservationists also have fought nearly two decades of plans for an export terminal in California, arguing it will sustain the world’s demand for fossil fuels while also polluting local communities, as coal dust filters off uncovered rail cars that would supply the site.
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