US President Donald Trump announced his plans to invest millions of dollars to revive the American coal industry.
Trump announces $700 million funding for coal plants: US President Donald Trump announced his plans to invest millions of dollars to revive the American coal industry. The president is unlocking much of the new funding by utilizing wartime powers.
‘So today we’re taking historic action to bring down the price of energy and the cost of living for all Americans with the power of clean, beautiful coal,’ said Trump on the eve of World Environment Day at the White House Thursday.
The investment is coming at a time when Trump is seeking to protect Americans from rising energy costs amid ongoing war with Iran.
To finance the $700 m initiative, he would invoke the Defence Production Act, a Cold War-era law that grants the president broad authority to support industries considered vital to national security. Through this initiative we will protect 14 coal plants and 42 coal mines and build two new coal plants and one massive new export terminal American president said.
ALSO READ: Rupee Climbs Against US Dollar Today
