Barack Obama, Coal and Electricity:
"Under my plan of a cap and trade system, electricity rates would necessarily skyrocket."
"So if somebody wants to build a coal-powered plant, they can. It's just that it will bankrupt them."
One energy source that America has plenty of--and does not depend upon the whims of foreign governments for the price--is coal.
But, coal is not a politically-correct source of energy. The burning of coal is anathema to environmentalists. The preoccupation of environmentalists with the dubious claims of man-made climate change has made coal highly-unpopular with the liberal crowd.
Barack Obama agreed with these views.
Obama says he favors "clean coal technology", but until this technology is fully developed, coal will remain politically incorrect.
America still depends on coal for almost half of its electricity.
Which makes the Obama statements from an interview earlier this year with the San Francisco Chronicle chilling to working in the coal industry--or anyone paying an electric bill.
Transcripts of the previously-unpublished Obama remarks on coal, as well as the audio are below.
ALSO at DBKP: Obama and Coal: Obama Admits His Policies Will "Bankrupt" Coal Industry
PJ Gladnick of NewsBusters on the unpublished parts of the interview," Amazing that this statement by Obama about bankrupting the coal industry has been kept under wraps until this time."
Ed Morrissey of Hot Air calls the Obama plan--and his statement, it can be supposed on "skyrocketing electricity"--an "utter disaster".
We need to plan for the transition better than what Obama proposes. We need to use our own reserves of oil, natural gas, coal, and shale to cushion the economy while we develop the alternatives and build the infrastructure to deliver it. That’s what John McCain proposed in his Lexington Project.
Price shocks on energy is the last thing this economy needs. It would be worse than the taxes Obama promises to impose on investment, and would have the same depressive effect. It’s an utter disaster.
Audio of the interview below the transcripts.
From the interview transcript: Audio: Obama Tells SF Chronicle He Will Bankrupt Coal Industry
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 (sic) 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 Obama: I’ll make energy prices “skyrocket”:
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.
They — you — you can already see what the arguments will be during the general election. People will say, “Ah, Obama and Al Gore, these folks, they’re going to destroy the economy, this is going to cost us eight trillion dollars,” or whatever their number is. Um, if you can’t persuade the American people that yes, there is going to be some increase in electricity rates on the front end, but that over the long term, because of combinations of more efficient energy usage, changing lightbulbs and more efficient appliance, but also technology improving how we can produce clean energy, the economy would benefit.
If we can’t make that argument persuasively enough, you — you, uh, can be Lyndon Johnson, you can be the master of Washington. You’re not going to get that done.
Audio of Barack Obama declaring, "So if somebody wants to build a coal-powered plant, they can. It's just that it will bankrupt them."
Audio of Barack Obama declaring, "Under my plan of a cap and trade system, electricity rates would necessarily skyrocket."
The Obama campaign predictably says the statements above are "taken out of context".
Are they?
Readers can read and listen and make their own decisions as to what the correct context should be.
There's something about San Francisco that emboldens Barack Obama to reveal more about his agenda and thoughts than his political advisers would want.
by Mondo Frazier
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