President Donald Trump signed executive orders on Tuesday to boost coal production, citing rising electricity demand from artificial intelligence, according to CNBC. He said his administration would expedite leases on federal lands, streamline permitting, and invoke the Defense Production Act to “turbo charge” coal mining. The tech sector building AI data centers is prioritizing renewables and nuclear power over coal as a fuel source due to emissions concerns. Coal stocks climbed following the president’s order, with notable gains for Peabody Energy, Core Natural Resources, and Ramaco Resources.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02President Donald Trump signed executive orders on Tuesday to boost coal production,
00:06citing rising electricity demand from artificial intelligence, according to CNBC.
00:10He said his administration would expedite leases on federal lands,
00:14streamline permitting, and invoke the Defense Production Act to turbocharge coal mining.
00:18The tech sector building AI data centers is prioritizing renewables and nuclear power over
00:23coal as a fuel source due to emissions concerns. Coal stocks climbed following the president's
00:28order with notable gains for Peabody Energy, Core Natural Resources, and Ramico Resources.
00:33For all things money, visit Benzinga.com slash GSTV.