US President Donald Trump announced a $700 million federal investment to revitalize America’s struggling coal industry on Thursday, June 4, 2026, at the White House. The funding uses emergency powers under the Defense Production Act, a Cold War-era national defense law that gives presidents broad authority over industries vital to national security.
The investment package will protect 14 coal plants and 42 coal mines across the United States, while building two new coal plants in Alaska and West Virginia—the first new coal facilities built in the U.S. since 2013. Additionally, Trump will construct a large coal export terminal in Oakland, California.
The funding breaks down as follows:
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$425 million to upgrade and extend the life of 13 existing coal-fired power plants in Kentucky, North Carolina, Tennessee, Arizona, Oklahoma, North Dakota, West Virginia, Indiana, Arkansas, and Wisconsin
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$185 million to develop new coal plants in Alaska and West Virginia and restart a shuttered plant in Maryland
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$75 million to build the West Gateway coal export terminal in Northern California
Trump said the initiative will support or create over 14,000 jobs in coal, construction, rail, and maritime industries, with the Oakland terminal alone generating 1,400 jobs. The president claimed this investment will save American consumers approximately $50 billion in new energy generation costs that would otherwise raise utility bills.
The announcement comes as the Iran war drives up energy costs for Americans, and Trump aims to reduce energy expenses using “clean, beautiful coal”. The administration also plans to open 13 million acres of federal lands for coal mining.
FAQs [Frequently Asked Questions]
1. What law is Trump using for coal funding?
Trump invoked the Defense Production Act, a Cold War-era national defense law granting presidents broad authority to support industries vital to national security like coal.
2. How many jobs will this coal package create?
The $700 million investment will support or create over 14,000 jobs across coal, construction, rail, and maritime industries, with Oakland terminal generating 1,400 jobs.
3. What new coal plants will be built?
Two new coal plants in Alaska and West Virginia will be built—the first new U.S. coal facilities since 2013—plus a coal export terminal in Oakland, California.