Obama wants to bankrupt coal companies

Obama wants to bankrupt coal companies

blogs.abcnews.com

But ... let me sort of describe my overall policy. What I’ve said is that we would put a cap and trade policy in place that is as aggressive if not more aggressive than anyone out there. I was the first call for 100 percent auction on the cap and trade system. Which means that every unit of carbon or greenhouse gases that was 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 are being built, they would have to meet the rigors of that market and the ratcheted-down caps that are 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.

(visit the link for the full news article)

I heard about this on Fox News and decided to look it up. Apparently Obama wants to make starting up a new plant so expensive (due to the cap taxes) that they would essentially go bankrupt - not to mention existing plants would face HUGE increases in operating costs. Where has this interview been? I have listened to the uncut interview and was dumbfounded.

IMO - he sounds like a radical environmentalist - bankrupting energy companies that aren't "good" for the environment. No matter they provide a huge number of jobs.

Lets just imagine how wages would fare in such an environment...not to mention consumer energy costs.

blogs.abcnews.com
(visit the link for the full news article)

[edit on 3-11-2008 by ACEMANN]

Every time an American turns on a light switch 50% of that electricity comes from coal.

Coal is the United States of America's secret energy reserve. Canada as well as the United States have more coal between the two countries then any other area in the world.

Coal is valuable resource.

For example, I spent a couple of weeks in a town in northern British Columbia, Canada, called Tumbler Ridge. The whole town was built with Japanese investment based on two coal mines in the area.

Japan helped to build and repair the railroad going from Tumbler Ridge to Prince Rupert.

Coal bought and paid for valuable, high pay jobs from Tumbler Ridge to Prince Rupert.

In Saskatchewan coal has stablized the Estevan oil boom and bust. Coal has provided high pay, great benifits to tens of thousands in the Estevan area as well as provide two man made lakes that provide excelent fishing, boating and camping.

It would be a mistake to allow coal to go bankrupt. We can work on green technology such as CO2 recapture technology that is being built in Saskatchewan as we speak.

My 2 cents.

reply to post by ACEMANN


I can see your point but he is only suggesting charging energy companies directly for the amount of carbon they release into the atmosphere. So it puts pressure on the energy companies to invest in clean coal technologies. The less carbon they produce the less they pay. Seems like a very clever plan.

The whole idea of job losses may occur in the short term but I can imagine huge amounts of jobs being created in RD for clean sources of energy and in the production of these new technologies. People are going to have to build these electric cars, wind turbines etc.

Seems like a very 'scary' headline for something that isn't that scary. In fact it seems like the best way tackle climate change by encouraging the energy companies to help solve the problem.

Whatever you think about climate change, cutting down pollution, creating jobs and investing in new technologies has got to be a good thing for everyone.

I think that the headline you want is "Republicans to Try Burning Obama on Coal". But even with the correct headline, you can't use a blog as a "news" source. And even though I'm sure you're not interested in the truth, he never said he wanted to "bankrupt coal companies".

the catch is.... old technology coal plants that pour out greenhouse gasses into the atmosphere will be charged horrendeously...

but a captive or closed system...or a type of combustion system which will not produce these greenhouse gasses would be immune from the high tax l which might/could bankrupt the others.


i say its just another way the elites are going to grab control of the resources at bargain basement prices...
my advice, buy coal stocks or supply and hold on, till the shake-out runs its course, then you too can make out like a bandit.

Wow, even more Republican Propaganda.

Notice how there's no dirty fighting from the other side?

That's because one party knows how to act like adults and allow people to think for themselves, and the other try everything they can to warp opinion, including outright lies, misinformation and propaganda.

I'm not even American, I have no vote in this, but I am already embarrassed for the Republicans. How do average Americans cope with all this BS being thrown at them to try to force people to vote their way!?
Leave people to make an educated decision, instead of telling them what they should do!

Now I really do believe the stories about McCain supporters trying to con people at the voting stations.

Shameful, truly shameful.

reply to post by bloodsearch


I think you're confused as to encouragement and punishment. If you want to encourage cleaner energy you'd be best to offer incentives and tax breaks. If you just go ahead and punish the companies by slamming them with fees the companies will just increase the fee consumers pay, cut wages, drop full-time positions for more part-time positions, etc...

The operating costs and expenses come from revenues. The cost and expense includes fess and taxes paid to lord government.

They could always just close up shop and go to a more business friendly country or not be in business at all and create no product or jobs.

I just realized thats sort of like NCLB. Do better or we'll cut your funding.
Obama will do for business what W did for education. Woot.

[edit on 3-11-2008 by thisguyrighthere]

God bless Obama then. Coal mining is a major part of the destruction of the planet. ANYTHING is better. Just because the use of coal is still a big deal in the States doesn't mean it should be so. Grow up and move on. There are other methods that don't foul things for the rest of us.

It is McCain who wants to bankrupt coal companies. McCain said to build 30 more nuclear power plants to replace other power plants.

Obama wants those coal-fire power plants to use the new clean technology not to bankrupt coal companies.

*stears at news article, then starts dancing around sining "we win!"*

Seriouly though, I was hoping more polotitions would sugest this sort of action. It's time we finished the transition to all modern energy producing technology.

Originally posted by detachedindividual
Leave people to make an educated decision, instead of telling them what they should do!

If the Republicans did that, they would lose most elections. The techniques you mentioned are necessary if the party is to survive.

I will give you an example. Many middle class Republicans are scared of the "redistribution" of wealth. What they seem to not understand is that they would be the ones who benefit from this type of policy. I just heard this girl on CNN state how she could not afford to have her wealth redistributed. The thing is, she does not understand, or has been misled into thinking incorrectly, that she would somehow be losing money. This is despite the fact that only the wealthy, not the middle class, would have their income "redistributed." Also, when the topic of redistribution is discussed, all we are talking about is a larger tax percentage for the wealthy, and when I say wealthy, I mean millionaires and billionaires. However, even with this being said many times by Obama, you still see huge middle class crowds of McCain supporters boo the idea of "redistribution." Quite frankly, I think that his middle class supporters are so politically and economically ignorant, that McCain could say "Obama wants to take money from the rich and give it to you", and they would still boo the idea. It boggles the mind really.

Once again, we have someone seizing anything that they can turn around into something false, the word twisters and spinners, he is saying that we need CLEAN coal processing technology, if there are innovations towards making the way coal is burned and processed to get electricity cleaner it would be more desireable, right now the ancient methods used have not changed much and are harming the environment, so yes he is going to make it expensive to run a coal plant and if they cannot come into conformance with standards they cannot afford to operate, is there anything wrong with wanting to make a process as it currently runs more expensive if it is environmentally harmful? and actually not penalize processes that will not attempt to innovate? no, did he say he would bankrupt them? no, he said that they will become bankrupt because of the fees associated with how they basically process coal now, without any restriction or penalty for environmental harm...companies that are profiting off of coal are going to have to reinvest some of the money into figuring out how make that process more efficient and responsible moving forward, plain and simple.

[edit on 3-11-2008 by phinubian]

So why has there been so little investment in CO2 recapture technologies by coal companies until now? oh thats right because they all want more $$$

I believe the bottom line here is that coal companies will be bankrupting themselves.

Originally posted by detachedindividual
Wow, even more Republican Propaganda.

Notice how there's no dirty fighting from the other side?

You cant be serious? Are you seriously suggesting that the left doesn't attack? Have you ever thought that your view is shaped by a media that is comprised of Obama loving democrats? Do you think they're telling you the truth? If so and there are more like you, we are in serious trouble here in the US.

Also, how in the world is playing Obama's words a "dirty attack"?

That's because one party knows how to act like adults and allow people to think for themselves, and the other try everything they can to warp opinion, including outright lies, misinformation and propaganda.

Now for a dose of reality. The democrats are just as negative and "dirty", except they have a whole powerful media to do the attacking for them. When they do attack, the media covers for them and down plays the nastiness. When a Republican does t, its just the opposite.

I cant believe you really beleive the stuff you're typing.

I'm not even American,

Trust me, its PAINFULLY obvious. The way you present yourself as an authority on US poolitcs, when its clear you have no clue is a dead give away.

Now I really do believe the stories about McCain supporters trying to con people at the voting stations.

This isn't a con, its words straight form the mouth of your messiah. Where is the con?




reply to post by Oscitate

I believe the bottom line here is that coal companies will be bankrupting themselves.

By jacking up the costs of running such a plant. Which Obama says in this video, he would do.





[edit on 3-11-2008 by Marcus Calpurnius]

I saw this on Fox earlier too, but one of the contributors did say that McCain and Obama were pretty much agreed on this.

I don't know enough about thier exact policies on the matter to have much input here. I just think that you can't please everyone all the time. You are always going to hack off someone when you put your ideas forward.

CX.

[edit on 3/11/08 by CX]

reply to post by Oscitate


Yes that is precisely what I would say, you summed it up dead on! enough said

my brothers family lives solely because he work's at a coal plant.

So basically obama want's to make my nieces and nephew's even poorer..and there bread winner jobless..

Way to go obama/biden..

in western part of my state they just opened a coal mine and refinery
4000 new jobs for my state...


i am sorry this man will not stop till America is raped pillage and plundered.

Originally posted by beforetime
my brothers family lives solely because he work's at a coal plant.

So basically obama want's to make my nieces and nephew's even poorer..and there bread winner jobless..

Way to go obama/biden..

in western part of my state they just opened a coal mine and refinery
4000 new jobs for my state...


i am sorry this man will not stop till America is raped pillage and plundered.

did you ever understand what was put? he wants teh coal companies to invest in carbon capture technologies - which right now they , dont.


so maybe your brother needs to be asking `why is this company wanting max $$$ and not trying to save taxes?` - the tax breaks are allready there for CO2 reduction but as an industry coal companies use them the least as they cant be assed.