Market Chatter: Trump to Direct $500M to Coal Plants, Export Terminal Under Defense Production Act

MT Newswires Live06-04

President Donald Trump is set to announce $500 million in federal funding to support domestic coal-fired power plants and a coal export terminal, invoking the 1950 Defense Production Act, Bloomberg reported Wednesday, citing a White House official.

The plan includes $425 million for 13 existing coal plants and separate Energy Department grants for two new plants in Alaska and West Virginia, Bloomberg said.

An additional $75 million would support the proposed West Gateway export terminal in Oakland, California, which could ship up to 12 million tons of coal annually, the report said.

Beneficiaries include Duke Energy (DUK), Hallador Energy (HNRG), Oklahoma Gas & Electric, and a subsidiary of American Electric Power (AEP), according to the report.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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