President Donald Trump invoked the Defense Production Act on Monday to sign a series of energy-related presidential memorandums, the White House announced, as his administration aims to tackle rising fuel prices as a result of U.S. and Israel’s war on Iran.
* Trump signed memorandums on coal supply chains, domestic petroleum production, natural gas transmission and liquefied natural gas capacity.
* The U.S. president also signed memorandums on grid infrastructure and other energy-related infrastructure.
* “Today’s determinations allow the Department of Energy to use funding secured in the One Big Beautiful Bill to strengthen our grid infrastructure and unleash reliable, affordable, secure energy,” White House spokeswoman Taylor Rogers said on X.
* The Defense Production Act is a Cold War-era piece of legislation aimed at boosting production of goods for national security purposes.
* Rising fuel prices have triggered higher prices in U.S. on a range of goods and services, from airline tickets and housing to fertilizer and groceries.
(Reuters)
