This is not new, but it is still something to think about when you vote on Tuesday.
First the Video:
The Quote: (H/T to News Busters)
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.
Now had John McCain had said something like that, the Liberal Media would be all over it. But it’s Obama, so it’s okay.
Remember this on November 4.
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This entire thing is a bit silly. Most of the right wing blogosphere is currently screaming that Obama wants to “bankrupt the coal industry”. This is, of course, based upon an audio clip where Obama says no such thing. I’m not talking about the word “bankrupt.” I’m talking about the word “industry.” Obama is clearly talking about a market based cap and trade system that would make development of NEW dirty coal fired power plants unfeasible uneconomically: “So if somebody wants to build a coal-powered plant, they can; it’s just that it will bankrupt them.” That is, after all, the point of cap and trade.
Given that the debate on this ended a long time ago, and given that McCain also supports cap and trade, I don’t expect this to have traction with anyone but right wing bloggers. The only people who are going to be outraged by this are people who are looking hard for something to be outraged about.
I see your point. But I still just do not agree with punishing one industry to develop another.
We live in a world of multi-use energy. You can sum up the reasons behind the stop of coal use…Money! How about the bonus under the table as contributions to take coal off the market? ( And make oil a more needed commodity…possible???) This falls into the same concept of oil industries who were said to be buying up all the land of non used train track land to stop future resurection of the rail use in the late 60’s so to remove additional non “gas” used transportation choices? We can only surmise what next by big money used the wrong way.