Coal Will Need More Than the Army to Pull Off a US Revival (3)

President Donald Trump is making another major bid to bolster the shrinking US coal-power industry. He’ll use $175 million in government funds to upgrade six plants and have the Defense Department buy power from others.

While the moves announced Wednesday will likely extend the lifespan of several generators, they fall short of the main thing needed to develop new coal capacity: convincing private investors to take the financial — and political — risks.

“When the political pendulum can eradicate new investment in new plants and mines, you don’t get a lot of it,” said Kevin Book, managing director at ...