Trump administration announces $800 million plan to revive coal industry with new plants and bailouts
By
Evan Halper
Sat on the counter overnight. Well past its best.
Summary
The Trump administration announced a plan to invest over $800 million in public funds to revive the struggling coal industry. The money would fund new coal-fired power plants in Alaska and West Virginia, and provide support to 14 struggling facilities across 11 states including Maryland and Arizona. This would mark the first new U.S. coal plants since 2013, as coal continues to struggle competitively in the marketplace due to its high pollution and lack of economic viability.
Key quotes
· 3 pulledThe Trump administration plans to plow more than $800 million into a nationwide revival of coal power as the highly polluting fuel struggles to stand on its own in the marketplace.
President Donald Trump said at a White House event Thursday that the money will go toward opening new coal-fired power plants in Alaska and West Virginia as well as propping up more than a dozen struggling plants across 11 states including Maryland and Arizona.
More than $800 million in public funds would be used to open the first new U.S. coal plants since 2013 and keep 14 struggling facilities operating.
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