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Sunday, November 02, 2008

Obama's Policies will Bankrupt Coal Power Plants - His Words, Not Mine

If you haven't heard it yet, here is the audio tape that surfaced today from an interview that Barack Obama gave in January to the San Francisco Chronicle. In the tape, Obama says that his cap and trade proposal will bankrupt anyone who wants to build a coal power plant.

The transcript below of Obama's words is provided by NewsBusters.


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.

Can anyone really believe that Barack Obama cares about jobs for the middle class or about taking care of America's energy needs?

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