01 Jun '18, 3pm

Trump Administration Plans Costly Taxpayer Bailout of Unprofitable Energy Industries

Trump Administration Plans Costly Taxpayer Bailout of Unprofitable Energy Industries The Trump administration is planning to bail out unprofitable coal and nuclear plants by mandating grid operators buy electricity from them in the name of national security, Bloomberg reported late Thursday. A draft Department of Energy memo circulated before a National Security Council meeting Friday proposes invoking rarely-used emergency authorities under the Defense Production Act and Federal Power Act to force grid operators to purchase power from struggling plants. Per the memo, the move is meant as a "stop-gap measure" while the administration conducts a two-year study on "grid security challenges" facing the country. The proposal is the latest overture by the Trump administration as it struggles to make good on a campaign promise to help the coal and nuclear industry—as well as som...

Full article: https://www.ecowatch.com/coal-nuclear-bailout-trump-25742...

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