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Nov 3, 2008

Obama to bankrupt coal.

“What I have said is that for us to take coal off the table as a (sic) ideological matter …”

HT, Fleeced.

Fleeced also has his own blog, but now does most of his work on ALSblog.

It’s a bit late but News Busters have hit the jackpot with the release of an audio of Obama expressing his willingness to break the coal industry. This was part of a wide ranging interview by the San Francisco chronicle which was published the next day with this part censored out.

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.
It is difficult to understand why this section was omitted given the importance of it in an economic context. Coal is used at present to generate around half of the power needs of the US, which means massive upheavals and expense in replacing it, never mind the massive unemployment that would cause. This at a time when the scientific community is growing increasingly skeptical of the GW fanatics.

The senior vice president of the West Virginia Coal Association called Obama's comments "unbelievable."
"His comments are unfortunate," Chris Hamilton said Sunday, "and really reflect a very uninformed voice and perspective to coal specifically and energy generally."

Hamilton noted other times Obama and vice presidential candidate Joe Biden have made seemingly anti-coal statements.

"In Ohio recently, when Joe Biden said 'not here' about building coal-fired power plants -- this is exactly what will happen," Hamilton said. "Financing won't be directed here. It will all go aboard for plants elsewhere in the world. The United Sates is importing more coal today from Indonesia, South Africa and Colombia than we ever have.
In the post above Thomas Sowel says:
Barack Obama has the kind of cocksure confidence that can only be achieved by not achieving anything else.

Anyone who has actually had to take responsibility for consequences by running any kind of enterprise-- whether economic or academic, or even just managing a sports team-- is likely at some point to be chastened by either the setbacks brought on by his own mistakes or by seeing his successes followed by negative consequences that he never anticipated.

The kind of self-righteous self-confidence that has become Obama's trademark is usually found in sophomores in Ivy League colleges-- very bright and articulate students, utterly untempered by experience in real world.

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