Trump to use funding, contracts to sustain coal-fired plants, Bloomberg says

U.S. President Trump is planning to use government funding and Pentagon contracts to sustain U.S. coal-fired power plants as he works to drive domestic reliance, Jennifer Dlouhy of Bloomberg reports. The initiative is set to be announced Wednesday and will come through an executive order, a White House official told Bloomberg. The president also intends to announce the Energy Department’s plan to distribute $176M to six coal plants to help fund upgrades. Companies in the space include Peabody (BTU), Alpha Metallurgical (AMR) Alliance Resource Partners (ARLP), and Arch Resources (ARCH).