US President Trump directs Department of Energy to issue funds to coal plants in states including West Virginia and Ohio
Newsquawk Staff ·
Says
- I'm not a big fan of those crazy, China-made windmills.
- Tennessee Valley Authority has taken action to save two major coal plants in Tennessee.
- Coal is the most dependable form of energy we have.
- Will sign an order directing the Pentagon to buy electricity from coal-fired power plants in a move to boost the sector.
What it means
This directive from President Trump to support coal plants represents a significant pivot towards fossil fuels at a time when the sector faces pressures from renewable energy directives and climate policies. This could bolster expectations for coal's role in the energy mix, influencing energy prices and potentially affecting commodities like WTI and natural gas. The implications may also resonate across equities and currencies, particularly those correlated with energy sectors.
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