-- US President Donald Trump on Monday issued a Presidential Determination under the Defense Production Act of 1950, effectively treating energy infrastructure as a matter of national defense.
Citing a "National Energy Emergency," the move authorizes the Secretary of Energy to fast-track manufacturing, permitting, and financing to secure the nation's power supply, according to the memorandum.
It grants the Secretary of Energy sweeping authority to intervene in the market to accelerate the development, manufacturing, and deployment of large-scale energy projects.
Citing the need for "expedient and practical" methods, the President has waived standard DPA requirements, allowing the Department of Energy to act immediately.
The memo argues that existing market conditions, stifled by financing risks and regulatory delays, cannot meet the nation's defense needs in a timely manner.