Wednesday, November 5, 2008

Bankrupting the Coal Industry

One of Pennsylvania's main industries is coal - and they still voted for Obama--
I don't understand it either??

On Bankrupting coal: "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. ... 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." --Barack Obama in January in an interview with the San Francisco Chronicle --
the Chronicle spiked this part of the interview ++ "Under my plan of a cap and trade system, electricity rates would necessarily skyrocket. Even regardless of what I say about whether coal is good or bad. Because I'm capping greenhouse gases, coal power plants, you know, natural gas, you name it -- whatever the plants were, whatever the industry was, uh, they would have to retrofit their operations. That will cost money. They will pass that money on to consumers." --Barack Obama in the same interview

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