Trump Pledges a U.S. Coal Renaissance | OilPrice.com
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Breaking News:
President Donald Trump is authorizing the Administration to work to boost U.S. coal power generation in an effort to counter China’s economic advantage over America due to the constant rise in Chinese coal power plants.
“After years of being held captive by Environmental Extremists, Lunatics, Radicals, and Thugs, allowing other Countries, in particular China, to gain tremendous Economic advantage over us by opening up hundreds of all Coal Fire Power Plants, I am authorizing my Administration to immediately begin producing Energy with BEAUTIFUL, CLEAN COAL,” President Trump wrote on social media platform Truth Social.
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Coal currently accounts for about 15-16% of U.S. power generation and its share has been consistently falling in recent years as many coal-fired power plants have shut down and wind and solar power have taken over market share from coal. Cheap and abundant natural gas has also played a part in coal’s decline, as have many environmental regulations and fees that have made coal plant operations more expensive.
The Trump Administration is a vocal supporter and proponent of fossil fuels and more coal is now apparently also a U.S. priority alongside oil and gas.
It wasn’t immediately clear from the social media post what authorizations President Trump is giving the administration “to immediately begin producing” energy from coal.
On Day One, President Trump declared a national energy emergency to ensure “an affordable and reliable domestic supply of energy” which is a “fundamental requirement for the national and economic security of any nation.”
The Administration is considering emergency authority to resurrect closed coal power plants and to stop others from closing, Interior Secretary Doug Burgum told Bloomberg Television last week.
“Under the national energy emergency, which President Trump has declared, we’ve got to keep every coal plant open,” Burgum told Bloomberg, adding that “if there had been units at a coal plant that have been shut down, we need to bring those back.”
By Tsvetana Paraskova for Oilprice.com
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