President Trump is scheduled to make an “announcement on Beautiful, Clean Coal” this afternoon in the Oval Office.
The President will reportedly announce a nearly $1 billion investment in energy infrastructure in over a dozen states using the Defense Production Act.
Mr. Trump on Thursday is expected to announce $700 million in funding for coal plants and energy infrastructure during an afternoon Oval Office event dubbed “Beautiful, Clean Coal.” A White House official confirmed the details of the plan, which was first reported byBloomberg.
Mr. Trump will invoke the Defense Production Act, a Cold War-era law that gives the U.S. president emergency authority over domestic industries, to distribute $75 million for a new coal export terminal in Oakland, California, and $425 million to support 13 existing plants across 10 states: West Virginia, Kentucky, North Carolina, Indiana, Tennessee, Arkansas, Arizona, Oklahoman, North Dakota and Wisconsin.
The president is also expected to announce nearly $200 million in Department of Energy grants to build two new coal plants in Alaska and West Virginia and to restart a coal plant in Maryland. The facilities in Alaska and West Virginia would be the first new coal plants built in the U.S. since 2013.
A White House official said the initiative will create thousands of jobs for miners, railroad workers, engineers and construction workers and save consumers $50 billion in energy generation costs.
The event is scheduled to start at 3 pm ET.
You canemail Jordan Conradson here, andread more of Jordan Conradson's articles here.
Source: The Gateway Pundit
