President Trump has ordered Energy Secretary Rick Perry to determine how to keep U.S. coal and nuclear power plants operating even though they struggle to compete against plants using natural gas and renewable energy sources.
"Impending retirements of fuel-secure power facilities are leading to a rapid depletion of a critical part of our nation's energy mix and impacting the resilience of our power grid," said White House Press Secretary Sarah Huckabee Sanders in an email briefing on the subject Friday. Trump has asked Perry "to prepare immediate steps to stop the loss of these resources and looks forward to his recommendations," Sanders added.
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Coal stocks rose with Friday's announcement, and industry leaders endorsed the proposal. "Without action, we may pass a reliability and resiliency crisis point of no return," said the National Mining Association.
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Trump said to seek government stake in IntelSpeed Read The president and Intel CEO Lip-Bu Tan reportedly discussed the proposal at a recent meeting
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US to take 15% cut of AI chip sales to ChinaSpeed Read Nvidia and AMD will pay the Trump administration 15% of their revenue from selling artificial intelligence chips to China
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NFL gets ESPN stake in deal with DisneySpeed Read The deal gives the NFL a 10% stake in Disney's ESPN sports empire and gives ESPN ownership of NFL Network
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Samsung to make Tesla chips in $16.5B dealSpeed Read Tesla has signed a deal to get its next-generation chips from Samsung
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FCC greenlights $8B Paramount-Skydance mergerSpeed Read The Federal Communications Commission will allow Paramount to merge with the Hollywood studio Skydance
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Tesla reports plummeting profitsSpeed Read The company may soon face more problems with the expiration of federal electric vehicle tax credits
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Dollar faces historic slump as stocks hit new highSpeed Read While stocks have recovered post-Trump tariffs, the dollar has weakened more than 10% this year
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Economists fear US inflation data less reliablespeed read The Labor Department is collecting less data for its consumer price index due to staffing shortages
