Obama: We’ll bankrupt any new coal plants
(By Ed Morrissey, Hot Air) - The folks at Naked Emperor News have unearthed another interesting nugget from a Barack Obama interview from months ago. In January 2008, Obama spoke about his approach to global warming and cap-and-trade systems, and he had a warning for anyone foolish enough to invest in coal:
So, if somebody wants to build a coal plant, they can — it’s just that it will bankrupt them, because they are going to be charged a huge sum for all that greenhouse gas that’s being emitted.
posted by BP News Bureau | 11:02 PM
1 Comments:
From American Thinker:
This illustrates better than anything the folly of "cap and trade" proposals. Obama plans to use his C&T plan as a gigantic club to beat up on power companies and coal companies (and the miners) if they don't meet his arbitrary and capricious "targets" that drop every year regardless of any progress technologically in finding ways to mitigate the carbon output of power plants.
It will almost certainly cause a lot of smaller coal companies to either cut their work force as the demand for coal - our most abundant energy source - shrinks and probably drive a lot of these smaller concerns out of business.
And what about his gloating about driving businesses to bankruptcy? Has there ever been a presidential candidate who looked forward to the prospect of destroying someone's life's work and costing thousands of people their jobs?
But at least the Euro-twits pushing Global Warming won't be mad at us anymore.
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