Hidden Audio: Obama Tells SF Chronicle He Will Bankrupt Coal Industry

[Sassy]

Hidden Audio: Obama Tells SF Chronicle He Will Bankrupt Coal Industry
http://media.newsbusters.org/stories/hidden-audio-obama-tells-sf-chronicle-he-will-bankrupt-coal-industry.html?q=blogs/p-j-gladnick/2008/11/02/hidden-audio-obama-tells-sf-chronicle-he-will-bankrupt-coal-industry

     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.

[NM_Shooter]

Obama is going to bankrupt a lot of US businesses.

[ScottA]

Maybe bankrupt business are easier to nationalise?   

[glenn kangiser]

Yup - pennies on the dollar.

Does that mean we all get to be Federal Employees?   OH BOY, I can hardly wait.  I want to work for my favorite 3 letter agency.

[Squirl]

There is a slight jump in the conclusion of this article. He said it would bankrupt a new coal plant built in the U.S., not the coal industry.  China is building coal fired plants at the rate of about 1 a day and we already have many coal plants and not a lot new being built.  China is the big force swallowing up the coal.  Even if we didn't build another coal plant in the United States china could continue buying all the coal from the coal industry.  Another issue is this hasn't been "hidden."  This just was never an issue because both McCain and Obama have the same policy of strong carbon trading caps on coal fired power plants and support clean coal plants.  This audio has been around for months and if you look, you will find many more.  This has been in both candidates stump speaches since the beginning.  This is one of the issues McCain holds as part his maverick status. 
I like the idea of carbon cap and trade. First I don't want to end up like china.  I saw the pollution problems on display during the olympics.  What a disaster.  Second, it is probably the best program in preserving rural land since the national park system.  All undeveloped land can be used as a credit and that credit can be sold to power companies.  This keeps the forest from being cut down and puts more money in farmers pockets.  It also creates motivation for people to build a long term solution instead of a short term fix.  Hydoelectric plants cost more upfront but pay over the long run and don't pollute.  We have all seen lately that dollars tend to chase short term payback over long term stability.

We are going to see a lot of these "surprise" or "hidden" issues against both candidates in the 3 days before the election.  This is because people can put it out, and know that the follow up to point out the nuance will be long after everyone has voted.