WASHINGTON, April 20 (Xinhua) -- U.S. President Donald Trump on Monday signed a series of presidential memorandums, invoking the 1950 Defense Production Act in an attempt to boost energy supply amid the U.S.-Israel war with Iran.
The five presidential memorandums under the law focus on domestic petroleum, coal, liquefied natural gas, energy infrastructure and power-grid infrastructure.
The 1950 Defense Production Act provides the president with a broad set of authorities to ensure that the domestic industry can meet national defense requirements.
Trump invoked the Defense Production Act to provide federal funds for a wide range of energy projects, "as his administration faces pressure to help curb rising oil, gasoline and electricity costs," Bloomberg reported.
Projects eligible for support could include coal-fired power plants, refineries, and facilities that manufacture gas turbines and transformers -- electrical equipment that's been subject to shortages, according to media reports. ■