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  • 10 months ago
Donald Trump stated he would counter China’s economic advantage by increasing fossil fuel power production, according to Bloomberg. The president declared in a social media post that he was immediately authorizing energy production using coal. Trump previously signed an executive order declaring a national energy emergency and directing the EPA to boost fossil fuel output. Coal usage is down by 35% since 2000, as competition from renewables, cheap natural gas, and federal regulations have driven its decline. China's coal-powered manufacturing boom has driven economic growth while making it the world's top emitter of greenhouse gases.

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00:00It's Benzinga bringing Wall Street to Main Street.
00:02Donald Trump stated he would counter China's economic advantage by increasing fossil fuel
00:06power production, according to Bloomberg. The president declared in a social media post
00:11that he was immediately authorizing energy production using coal.
00:15Trump previously signed an executive order declaring a national energy emergency
00:20and directing the EPA to boost fossil fuel output.
00:23Coal usage is down by 35 percent since 2000, as competition for renewables,
00:28cheap natural gas and federal regulations have driven its decline.
00:32China's coal-powered manufacturing boom has driven economic growth
00:36while making it the world's top emitter of greenhouse gases.
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