Shocking Audio: Obama Promises to Bankrupt Coal Industry

Crossposted from Stop the ACLU:

In the name of the almighty environmental movement…

Gateway Pundit provides a partial transcript:

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 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.”

Rick Moran:

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.

Ed Morrissey:

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.

The Anchoress:

I don’t know why the McCain camp is not running constant ads – at least in PA and Virginial, highlighting Obama’s admission that – given the opportunity – he’ll bankrupt any new coal plants.

Give him a chance, the news just hit today thanks to the new media, not the old. It was hidden before.

Newsbuster’s points out that the SF Chronicle didn’t mention this statement in their original article on this interview.


Voters in coal states around the country need to know this. Barack Obama wants to essentially kill the coal industry, which is in line with Biden’s previous comment that there should be no coal plants in America. These are the coal states that would be affected if Obama is able to implement his Cap and Trade policy. It would also affect those companies right now that currently use coal as fuel. They would be hit so hard with fines that they would either have to invest in major capital changes to their plants to switch to a new fuel or go under.

Wake Up America:

Looks like Biden wasn’t contradicting Obama at all when his words were reported and shown on video.

Also see Dirty Harry
Flopping Aces
Don Surber
Michelle Malkin
Nice Deb

Update: More from the same interview via Hot Air

The problem is not technical, uh, and the problem is not mastery of the legislative intricacies of Washington. The problem is, uh, can you get the American people to say, “This is really important,” and force their representatives to do the right thing? That requires mobilizing a citizenry. That requires them understanding what is at stake. Uh, and climate change is a great example.
You know, when I was asked earlier about the issue of coal, uh, you know — 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.

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