The Trump administration announced on Monday a $625 million investment to boost America’s coal industry, a plan that aims to keep coal plants open, lower energy costs and enable the U.S. to win the global race for dominance in artificial intelligence.
U.S. Energy Secretary Christopher Wright made the announcement of expanded programs to help the coal industry on FOX Business’ “Mornings with Maria,” saying that the U.S. has “awesome coal reserves” that can be put to productive use.
“We’re going to export more of that coal, we’re going to use it for American industry, particularly as we reindustrialize, and it’s going to continue to provide 15%-16% of our electricity and enable us to reindustrialize and win the AI race,” Wright said.
The $625 million investment includes $350 million to modernize coal plants with reliable electric power and capacity; $175 million for coal projects that are expected to bring cheaper, more reliable energy to rural communities; $50 million to upgrade wastewater management systems to extend the lifespan of coal plants and reduce operating costs; $25 million to enable coal power plants to operate on dual fuel; and $25 million to support investments that will maintain boiler efficiency and reliability when utilizing 100% natural gas.
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Wright said that coal has been “under assault” for years, even though it is “critical for America’s industrial might.”
He called coal the “backbone” of steel production, critical for cement production and necessary to feed the AI boom.
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Wright added that the programs also aim to add what he called “pollution control” so that America’s coal plants run “cleaner and better.”
“Coal just makes the world go round. And they’ve tried to strangle it, particularly the Biden administration, starting with the Obama administration,” Wright said, adding that coal has “a long future.”
“Let’s stop wishing it would go away,” Wright said of coal. “It’s critical to our country.”
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