Bankrupting The Coal Industry

We are now almost two years into the Obama administration. I wonder how his January 17, 2008 promise to bankrupt the coal industry is coming long?


Obama explains his carefully thought through theory of how bankrupting industries generates revenue.

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.

About stevengoddard

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5 Responses to Bankrupting The Coal Industry

  1. Eyes Wide Open says:

    Sorry but Obama has been too busy bankrupting the U.S. as a whole!!!

    • Eddie says:

      Couldn’t agree more. He’s already given the EPA all the power they need to sidetrack any government body and force us to pay dearly. It’s just a matter of time

  2. Layne Blanchard says:

    Well, he’s been busy ya know, what with bludgeoning Arizona. And it took him several months to locate a phone number for BP on that strange gulf ACCIDENT , and a few more months to blockade the skimmers and Oil Boom manufacturers. Now there’s a mosque to build, and he’s just very busy. He can only destroy one thing at a time. But thankfully, coal is still under assault by his henchmen. http://news.google.com/news/search?aq=f&pz=1&cf=all&ned=us&hl=en&q=new+coal+power+plants

  3. bruce ryan says:

    Is it any wonder no one will hire. Its a wonder corporations don’t go into suspended animation.

  4. au1corsair says:

    Biodiesel pollutes. Biodiesel is for energy independence through alternate energy sources–but it is claimed over and over and over again that biodiesel is non-polluting.
    Here’s the lie: http://www.allegrobiodiesel.com/howmuchdoesbiodieselreduceairpollutants.html

    Here’s the other side: http://www.sfgate.com/green/article/Biodiesel-spills-often-endanger-wildlife-3291545.php

    The president’s program to bankrupt coal is dumping the coal miner unions that have traditionally been yellow dog Democrats. He must be counting on greater political and financial support from Big Green.

    Big Green is both Big Business and a proud member of the Industrial/Military Complex. I guess Big Green is merely President Obama’s Big Business. Of course, the president is famous for how he treats friends and allies–even his own grandmother!

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