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Dr. Kenneth Bisson

Audio: Obama Tells SF Chronicle He Will Bankrupt Coal Industry

By: Pam On: Nov/2/08 - 4 Comments

Transcript via News Busters:

Let me sort of describe my overall policy.

What I’ve said is that we would put a cap and trade system in place that is as aggressive, if not more aggressive, than anybody else’s out there.

I was the first to call for a 100% auction on the cap and trade system, which means that every unit of carbon or greenhouse gases emitted would be charged to the polluter. That will create a market in which whatever technologies are out there that are being presented, whatever power plants that are being built, that they would have to meet the rigors of that market and the ratcheted down caps that are being placed, imposed every year.

So if somebody wants to build a coal-powered plant, they can; it’s just that it will bankrupt them because they’re going to be charged a huge sum for all that greenhouse gas that’s being emitted.

That will also generate billions of dollars that we can invest in solar, wind, biodiesel and other alternative energy approaches.

The only thing I’ve said with respect to coal, I haven’t been some coal booster. What I have said is that for us to take coal off the table as a (sic) ideological matter as opposed to saying if technology allows us to use coal in a clean way, we should pursue it.

So if somebody wants to build a coal-powered plant, they can.

It’s just that it will bankrupt them.

So the hell with the people employed in the coal industry.  Michelle has more.

Ed:

Yesterday, we looked at Obama’s notions of government sending “price signals” to change behavior that it finds objectionable, especially on energy.  This is the way Obama intends to do it.  Coal provides 49% of domestic electrical power, and any rise in the cost of producing that energy will raise its cost to consumers and reduce the amount produced.

This comes as no great shock, pun intended.  Obama already called for a 15% reduction in demand for electricity ” at the same time he and his allies want transportation to switch from gasoline to electricity.  Obama never explained this particular contradiction.  How does one switch tens of millions of vehicles from gasoline to electricity while not Increasing demand, let alone by cutting it 15%?  And when trying to break free from a recession, the nation will need greater production in energy, not a reduction.

The coal-based economics of Pennsylvania, West Virginia, Kentucky, Ohio, and other states will be the first to feel this new policy.  Let’s hope the voters there pay attention.

Gateway Pundit

No wonder Rupert Murdoch is worried about an Obama presidency.

Remember… Obama said he would raise power and fuel prices to change our bad habits and that it’s going to hurt–
“It’s not going to be painless.”
Video HERE.

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Posted on: November 2, 2008 |

Posted in: Barack Obama, Democrats, Economy, Energy Prices, Global Warming, John McCain, Presidential Election '08

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4 Responses to “Audio: Obama Tells SF Chronicle He Will Bankrupt Coal Industry”

  1. Hyscience
    November 2, 2008 - 08:21 AM on November 2nd, 2008

    Discovered ‘Hidden Audio’: Obama Tells SF Chronicle He Will Bankrupt Coal Industry…

    This is most definitely something the people of Pennsylvania need to know about: Here is the transcript from NewsBusters of Obama’s statement about bankrupting the coal industry (HT – Pam): Let me sort of describe my overall policy. What I’ve sa…

  2. » Audio: Obama Tells SF Chronicle He Will Bankrupt Coal Industry Barrack Obama On Best Political Blogs: News And Info On Barrack Obama
    November 2, 2008 - 08:22 AM on November 2nd, 2008

    [...] Audio: Obama Tells SF Chronicle He Will Bankrupt Coal Industry Transcript via News Busters: Let me sort of describe my overall policy. What I’ve said is that we would put a cap and trade system in place that is as aggressive, if not more aggressive, than anybody else’s out there. I was the first to call for a 100% auction on the cap and trade system, which means that every unit of carbon or greenhouse gases emitted would be charged to the polluter. That will create a market in which whatever technologies are out there that are being presented, whateve [...]

  3. Barack Obama On Best Political Blogs » Audio: Obama Tells SF Chronicle He Will Bankrupt Coal Industry
    November 2, 2008 - 08:24 AM on November 2nd, 2008

    [...] Audio: Obama Tells SF Chronicle He Will Bankrupt Coal Industry Transcript via News Busters: Let me sort of describe my overall policy. What I’ve said is that we would put a cap and trade system in place that is as aggressive, if not more aggressive, than anybody else’s out there. I was the first to call for a 100% auction on the cap and trade system, which means that every unit of carbon or greenhouse gases emitted would be charged to the polluter. That will create a market in which whatever technologies are out there that are being presented, whateve [...]

  4. Obama: I'll make energy prices “skyrocket” | Right Voices
    November 2, 2008 - 06:40 PM on November 2nd, 2008

    [...] Audio: Obama Tells SF Chronicle He Will Bankrupt Coal Industry [...]

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