Obama: We’ll bankrupt any new coal plants

Obama: We'll bankrupt any new coal plants

"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."

from HotAir.com

"Yesterday, we looked at Obama’s notions of government sending “price signals” to change behavior that it finds objectionable, especially on energy. This is the way Obama intends to do it. Coal provides 49% of domestic electrical power, and any rise in the cost of producing that energy will raise its cost to consumers and reduce the amount produced.

This comes as no great shock, pun intended. 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."

kentucky coal

bankrupt coal plants