EO 14386Executive OrderTrump 47 · R

Executive Order 14386

Strengthening United States National Defense With America's Beautiful Clean Coal Power Generation Fleet

In simple terms

This executive order directs the Department of War (DOW) to prioritize coal-fired power generation for military and defense-industrial facilities by entering into long-term Power Purchase Agreements with coal plants. It frames coal as essential to national security and grid resilience, building on prior energy emergency declarations and coal-industry executive orders from 2025.

Record & deadlines

  1. Signed

    Signed by the President

  2. FR published

    Published in the Federal Register · 91 FR 7393

Market exposure

Policy exposure mapping — not investment advice. Illustrative public companies are incomplete and not recommendations.

Mechanisms

ProcurementSubsidy / incentive

Role pressure

  • ProtectiveDomestic producer — Federal PPAs provide revenue certainty and preferential procurement for U.S. coal-fired generators serving defense installations
  • MixedDownstream manufacturer — Defense-industrial base gains reliability assurances but may face higher energy costs or carbon exposure from coal-dependent grid
  • AdverseImporter — No explicit restriction but coal preference reduces market opportunity for imported fuels or alternative generation sources

Geographies

Illustrative public companies

Curated watchlist matches by sector/role — incomplete; not a recommendation.

MMM3MAAAlcoaAAPLAppleCATCaterpillarCENXCentury AluminumLNGCheniere EnergyCVXChevronCLFCleveland-CliffsCOPConocoPhillipsXOMExxon MobilFCXFreeport-McMoRanGEVGE VernovaHONHoneywellNUENucorSHELShellSPYSPDR S&P 500 ETFTSLATeslaXUnited States Steel

Confidence: medium · Policy alerts

Key directives

  • Secretary of War shall seek to procure power from U.S. coal generation fleet via long-term Power Purchase Agreements or similar contracts
  • Priority given to projects enhancing grid reliability, on-site fuel security, and mission assurance for defense/intelligence capabilities
  • Implementation subject to availability of appropriations

Who is ordered

Related orders

What to expect

Immediate

  • EO takes effect; policy statement on coal as essential to national security
  • DOW directed to seek coal power procurement

Near term (90d)

  • DOW and DOE coordination on Power Purchase Agreement negotiations
  • Identification of priority coal-fired facilities for defense contracts

Long term

  • Potential long-term PPAs locking in coal generation for federal installations
  • Shifts in federal energy procurement away from other sources toward coal

Risks & tensions

  • Legal uncertainty: 'Department of War' does not exist as a current U.S. cabinet department (renamed Department of Defense in 1947); text may intend Secretary of Defense or reflect archaic/non-standard nomenclature
  • Conflict with prior administration decarbonization and renewable energy procurement policies
  • Potential tension with utility economics as coal faces market competition from cheaper alternatives
  • Appropriations constraint may limit actual implementation despite directive
  • Environmental and climate commitments undermined by federal coal procurement preference
Executive Order 14386: Strengthening United States National Defense With America's Beautiful Clean Coal Power Generation Fleet · Executive Orders