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Trump administration provides $175M funding for coal plants

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Trump administration provides $175M funding for coal plants

The Trump administration is stepping up its push to reinvigorate the U.S. coal industry as it pursues its goal of boosting energy security.

Last week, the Department of Energy announced that it would provide $175 million in funding for projects to modernize, retrofit and extend the useful life of six coal-fired power plants that serve rural and remote communities. 

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The agency said the move is intended to keep dependable sources of energy online, while also strengthening the reliability of the electric grid and keeping electricity costs low for American households and businesses.

The funding came from a previously announced $525 million plan to extend the life of coal plants and increase efficiency, as the administration views modernizing existing plants as a fast and cost-effective way to provide reliable power while preserving high-wage energy jobs.

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Coal power plant from a city street

The Trump administration is providing funds to support coal power plants as part of the nation’s energy mix. (Jeff Swensen/Getty Images)

“For years, previous administrations targeted America’s coal industry and the workers who power our country, forcing the premature closure of reliable power plants, and driving up electricity costs,” said Energy Secretary Chris Wright

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“President Trump has ended the war on American coal and is restoring common-sense energy policy. These investments will keep America’s coal plants operating, keep costs low for Americans, and ensure we have the reliable power needed to keep the lights on and power our future,” Wright added.

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A view of a coal-powered energy station.

The administration’s will fund projects to extend the life of coal-fired power plants. (Jim Urquhart/Reuters)

The coal-fired power plants that were selected as part of the $175 million project include:

  • Appalachian Power Company’s facilities in Letart and Winfield, West Virginia
  • Buckeye Power’s plant in Brilliant, Ohio
  • Duke Energy Carolinas’ plants in Sauaratown Township, North Carolina
  • Kentucky Utilities Corporation’s facility in Ghent, Kentucky
  • Monongahela Power Company’s power plant in Maidsville, West Virginia
  • Ohio Valley Electric Corporation’s plant in Cheshire, Ohio

Electricity demand is surging amid the artificial intelligence (AI) race, as data centers that consume vast amounts of energy become a bigger drain on the grid.

TRUMP ENERGY CHIEF OUTLINES COAL’S ‘CRUCIAL’ ROLE IN AFFORDABILITY AS ADMIN PUSHES TO KEEP PLANTS RUNNING

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Coal on barges in Pittsburgh, US, on Monday, Sept. 9, 2024. Weekly US coal production was down 13.8% year-to-date for the week ending on August 31 according to the Department of Energy. Photographer: Justin Merriman/Bloomberg via Getty Images

Coal’s share of electricity generation has declined rapidly in recent decades. (Justin Merriman/Bloomberg via Getty Images)

The Trump administration’s push to boost coal as a part of the nation’s energy mix comes after years of decline as coal power plants closed. Coal’s decline came amid the rise of natural gas and renewable energy sources as energy sources.

Data from the Energy Information Administration (EIA) shows that coal’s total output for electricity generation peaked in 2007, when it was the source of 2,016 billion kilowatt-hours of electricity. 

That figure declined to 675 billion kilowatt-hours as of 2023, when coal’s share of electricity generation was 16.2%. Coal last generated over half of the nation’s electricity in the early 2000s and peaked as a proportion of the energy mix in the 1980s.

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Natural gas surpassed coal as the country’s largest source of electricity in 2016, and EIA data showed natural gas generated 43.1% of the nation’s electricity in 2023.

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Trump pitches economic plan in Georgia as high prices frustrate voters

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Trump pitches economic plan in Georgia as high prices frustrate voters


Trump pitches economic plan in Georgia as high prices frustrate voters

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German tax revenues fell by 3.4% in January, finance ministry says

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German tax revenues fell by 3.4% in January, finance ministry says


German tax revenues fell by 3.4% in January, finance ministry says

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Form 13G Alpha Cognition Inc. For: 19 February

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Form 13G Power REIT For: 19 February

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Slocombe elected chair of RFDS, Joanne Farrell appointed deputy chair

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Slocombe elected chair of RFDS, Joanne Farrell appointed deputy chair

The Royal Flying Doctor Service in Western Australia has elected Robert Slocombe as chair, effective from April 27.

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Iran tells UN chief it will respond ’decisively’ if subjected to military aggression

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Iran tells UN chief it will respond ’decisively’ if subjected to military aggression


Iran tells UN chief it will respond ’decisively’ if subjected to military aggression

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Southern Co raises spending plan by 7% as data center power demand swells

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Southern Co raises spending plan by 7% as data center power demand swells


Southern Co raises spending plan by 7% as data center power demand swells

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Tesla CEO Elon Musk confirms Cybercab will sell for $30,000 by 2027

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Tesla CEO Elon Musk confirms Cybercab will sell for $30,000 by 2027

Tesla CEO Elon Musk said the company plans to sell its fully autonomous Cybercab for $30,000 or less by 2027.

The electric-vehicle maker announced Tuesday that the first Cybercab had rolled off the production line at its Giga Texas factory. Shortly after, Musk responded on X to a user seeking clarification about whether the vehicle would actually launch at that price point before 2027.

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“Elon – to be clear – the bet was that Tesla wouldn’t sell a Cybercab to a customer for $30k or less before 2027,” the user asked. “Are you saying THAT specifically is going to happen?”

“Yes,” Musk responded.

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Tesla CEO Elon Musk

Elon Musk attends the Viva Technology conference at the Porte de Versailles exhibition center on June 16, 2023, in Paris, France. (Chesnot/Getty Images)

The “bet” referenced in the exchange dates back to 2024, when Musk first unveiled the long-anticipated robotaxI and said it would cost less than $30,000 and enter production in 2026. 

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YouTuber Marques Brownlee, known as MKBHD, publicly questioned at the time whether Tesla could hit that target by 2027, saying he would shave his head on camera if Musk proved him wrong.

Following Tuesday’s production milestone, Musk appeared to lean into the challenge, reacting to an edited image of a bald Brownlee circulating on X.

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Tesla Cybercab exterior

The exterior of a Tesla Cybercab at the 2025 Autosalon on Jan. 10, 2025 in Brussels, Belgium.  (Sjoerd van der Wal/Getty Images)

“Gonna happen,” Musk wrote, adding a laughing emoji.

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The Cybercab is a two-seat vehicle designed without traditional driving controls such as pedals or a steering wheel. 

Tesla describes it as a “purpose-built fully autonomous vehicle” that will eventually offer rides directly to consumers.

TESLA ENDS PRODUCTION OF MODEL S AND MODEL X VEHICLES, WILL FOCUS ON ROBOTS IN 2026

Tesla Cybercab interior

A Tesla Cybercab is pictured on display at the AutoSalon on Jan. 10, 2025 in Brussels, Belgium.  (Sjoerd van der Wal/Getty Images)

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Still, Musk warned last month that early production of both the Cybercab and Tesla’s humanoid robot, Optimus, would be “agonizingly slow” before ramping up over time, Reuters reported.

Tesla and Brownlee did not immediately respond to FOX Business’ request for comment.

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Nvidia, Arm Stocks Rise Following Meta Deal

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Nvidia CEO Jensen Huang with Meta CEO Mark Zuckerberg at a conference in July 2024.

Nvidia shares rose around 2.5% Wednesday morning, following a tepid start to 2026.

Shares of Meta and Google parent Alphabet were little changed.

Shares of chip designer Arm gained about 1.5%. Nvidia uses Arm’s technology in its CPUs.

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Mister Car Wash Is Going Private. Why Things Never Worked Out for the Stock.

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Mister Car Wash Is Going Private. Why Things Never Worked Out for the Stock.

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