President Donald Trump announced a $700 million [1] federal investment on Thursday to support the domestic coal industry and build new energy infrastructure.

The move represents a significant shift in federal energy policy, prioritizing the revitalization of coal to lower energy prices and the cost of living for Americans [1, 2].

Speaking from the Oval Office at approximately 3 p.m. Eastern Time [4, 5], Trump said the administration is "taking historic action to bring down the price of energy and the cost of living for all Americans with the power" [2]. He described the initiative as an investment in "Beautiful, Clean Coal" [6].

The funding package is designed to provide support to 14 existing coal plants across the country [3]. Additionally, the plan calls for the construction of two new coal plants, with one located in Alaska and the other in West Virginia [3].

Beyond power generation, the federal investment includes the construction of a coal export terminal in California [3]. This facility is intended to expand the capacity of the U.S. to move coal to international markets.

Trump said the administration is utilizing various funding streams to execute the plan, including funds tied to wartime authority [2]. The effort aims to reinvigorate a sector that has seen a steady decline over the last decade due to the rise of natural gas and renewable energy sources.

While the administration frames the project as a "clean coal" effort, the plan focuses heavily on expanding the physical footprint of the industry through new construction and the preservation of aging plants [1, 3].

“"Beautiful, Clean Coal"”

This policy marks a reversal of recent trends toward decarbonization and the retirement of coal-fired power plants. By utilizing wartime authority funds and investing in new infrastructure in Alaska and West Virginia, the administration is attempting to decouple U.S. energy strategy from global climate targets in favor of immediate domestic industrial growth and lower short-term energy costs.