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Promised to Bankrupt anyone foolish enough to build coal-burning power plants

Obama: I’ll make energy prices “skyrocket”


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By —— Bio and Archives November 3, 2008

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In another clip from the same January 2008 interview with the San Francisco Chronicle in which Barack Obama promised to bankrupt anyone foolish enough to build coal-burning power plants, he also made an interesting admission about his entire energy plan.  Obama told the editors that his policies would make energy prices “skyrocket” as the energy industry passed along the exorbitant costs of his cap-and-trade policy:

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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