PrintObama's brags his 'Cap and Trade' plan will 'bankrupt' coal plant builders
Change we can freeze to death by:
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.
These remarks were made by Obama on January 17 of this year. Not surprisingly this audio was hidden until now because the interview was with the far left San Francisco Chronicle.
Here's the entire audio clip:
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.
Hat Tip: Rich Baehr
