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In the same interview in which Sen. Barack Obama said that he would cause coal-burning power plants to go bankrupt, he also said that, as president, he would purposefully cause energy prices to “skyrocket.”
“The problem is not technical and the problem is not mastery of the legislative intricacies of Washington,” Obama told the San Fransisco Chronicle about energy. “The problem is, can you get people to say, ‘this is really important,’ and force their representatives to do the right thing? That requires mobilizing a citizenry. That requires them understanding what is at stake. And climate change is a great example,” he said.
“You know, when I was asked earlier about the issue of coal, you know — under my plan of a cap and trade system, electricity rates would necessarily skyrocket. Even regardless of what I say about whether coal is good or bad. Because I’m capping greenhouse gases, coal power plants, you know, natural gas, you name it — whatever the plants were, whatever the industry was, they would have to retrofit their operations. That will cost money. They will pass that money on to consumers.”
“You know, when I was asked earlier about the issue of coal, you know — under my plan of a cap and trade system, electricity rates would necessarily skyrocket.