President Trump announced $700 million in federal funding to revitalize the domestic coal industry. The plan allocates $425 million to extend the life of 12 aging plants and $350 million for new projects. This includes the first new coal-burning power plants in the U.S. since 2013, located in Alaska and West Virginia.

To secure the funding, Trump invoked the Defense Production Act, citing national security. Money for new plants comes from funds originally intended for carbon capture technology. These projects include the Terra Energy Center in Alaska, which targets power for data centers and gold mines, and a project led by TerraPurus in West Virginia.

Critics argue the move ignores the superior economics of gas and renewables, as coal's share of electricity fell to 17 percent last year. The administration also allocated $75 million for an export terminal in Oakland, Calif. This effort reverses a decades-long decline that saw coal employment drop from 173,000 in 1985 to 40,000 today.

Market analysts warn these projects face significant political risk if a future administration reverses these policies. Despite this, industry proponents believe rising electricity demand from data centers could sustain a comeback. The Energy Department is now using emergency authority to block plant closures, including a facility in Florida scheduled for retirement.