Obama's willingness to bankrupt the coal industry

(Please read update about the San Francisco Chronicle neglecting to mention Obama's willingness to bankrupt the coal industry at bottom of this blog.)

Imagine if John McCain had whispered somewhere that he was willing to bankrupt a major industry? Would this declaration not immediately be front page news? Well, Barack Obama actually flat out told the San Francisco Chronicle (SF Gate) that he was willing to see the coal industry go bankrupt in a January 17, 2008 interview. The result? Nothing. This audio interview has been hidden from the public...until now. Here is the transcript of Obama's statement about bankrupting the coal industry (emphasis mine):

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.
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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.

Amazing that this statement by Obama about bankrupting the coal industry has been kept under wraps until this time.

CHARLESTON, W.Va. (WSAZ) -- With only hours before election day, coal has become a major topic of Decision 2008.

Sunday an audiotape surfaced from an interview Democratic presidential candidate Barack Obama did with the San Francisco Chronicle in January.

In the interview, Obama talks about the importance of coal. He went on to talk about his cap and trade proposal to help curb global warming.

"If somebody wants to build a coal power plant they can, it's just that it will bankrupt them because they are going to be charged a huge sum for all that greenhouse gas that's being emitted," Barack Obama said to the San Francisco Chronicle in January.

The campaign for Republican presidential candidate John McCain jumped on those comments today and is already sending out taped phone messages to voters in Ohio.

Campaigning in Marietta today, McCain's running mate Sarah Palin mentioned the Obama comments.

"He said that, sure, if the industry wants to build coal-fired power plants, then they can go ahead and try, he says, but they can do it only in a way that will bankrupt the coal industry, and he's comfortable letting that happen. And you got to listen to the tape," Sarah Palin said.

The Obama campaign says the quote is being taken out of context and that Obama is actually from a coal state and is a strong supporter of the industry.

The campaign sent a statement today saying "the point Obama is making is that we need a transition from coal burning power plants built with old technology to plants built with advanced technologies."

sodbuster wrote:
Thanks for clarifying Obama's plan at the end of your post pointing out his desire to switch from old dirty technology to modern clean coal technology.

sodbuster wrote:
Actually the term cleaner coal technology would be more appropriate.