Wednesday, November 12, 2008

Just in case - you hadn't heard - energy prices are going to sky rocket and Obama going to bankrupt the coal industry!!

"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," the Democratic president elect said. "I was the first to call for a hundred-percent auction on the cap-and-trade system, which means that every unit of carbon or greenhouse gases that was 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 imposed every year."

"So if somebody wants to build a coal power plant, they can," Obama concluded. "It's just that it will bankrupt them because they're going to be charged a huge sum for all that greeenhouse gas that's being emitted."

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