[Source: Reuters]

U.S. President Donald Trump signed executive orders on Tuesday that aim to boost coal production in his latest action that runs counter to global efforts to curb carbon emissions.

Coal-burning plants generate less than 20% of U.S. electricity, a drop from 50% in 2000, according to the Energy Information Administration, as fracking and other drilling techniques have hiked production of natural gas. Growth in solar and wind power has also cut coal use.

Trump, a Republican, campaigned on a promise to increase U.S. energy output and has sought to roll back energy and environmental regulations since taking office on January 20.

U.S. electricity demand is rising for the first time in two decades on growth in power-hungry data centers for artificial intelligence, electric vehicles, and cryptocurrencies.

The orders include efforts to save coal plants that were likely to be retired, including unlocking authorities in the 1950 Defense Production Act to boost coal production.

After Trump signed the orders, Wright’s department made $200 billion in financing available for its loan programs office including for new coal technologies. Under previous presidents, the loans have only rarely been used for carbon capture at coal plants.

The orders direct Interior Secretary Doug Burgum to acknowledge the end of a moratorium that paused new coal leasing, which allows private companies to buy the right to extract coal, on federal lands, and to prioritize the leasing.

Shares in U.S. coal producers Peabody (BTU.N), opens new tab and Core Natural Resources (CNR.N), opens new tab each shot up about 9% after the news.

Still, it is uncertain what demand there is for any greater U.S. coal output, with hundreds of domestic coal-burning plants having closed this decade on cheaper fuels and concerns about future regulations even if Trump’s administration dismantles current ones.

When burned, coal releases more of the main greenhouse gas carbon dioxide than any other fossil fuel. It also emits pollutants linked to lung and heart diseases. Much of its use has declined due to regulations from Democrats, including former President Joe Biden.

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