Obama Promises San Francisco Audience He Will Bankrupt Coal Industry!!

from Gateway Pundit

OBAMA TOLD A SAN FRANCISCO AUDIENCE THAT HE WILL BANKRUPT THE COAL INDUSTRY!!!

ATTN: Coal states Virginia , Ohio, Pennsylvania, Colorado, and Indiana, guess what Obama told San Francisco about you?

OBAMA TELLS SAN FRANCISCO HE WILL BANKRUPT THE COAL INDUSTRY:

Hat Tip Über
Here's the transcript via Free Republic from his talk to San Francisco Gate in January 2008:

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 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."

This goes hand-in-hand with what he's said about nuclear energy.
His preconditions make it impossible to expand nuclear energy at this time.
From The Wall Street Journal:

On nuclear power, Sen. Obama says he's open to expanding nuclear energy, which now provides 20% of the nation's electricity, as part of an effort to increase power sources that emit little or no carbon dioxide. But he also has said there is no future for expanded nuclear energy until the U.S. comes up with a safe, long-term solution for disposing of nuclear waste. He opposes the Bush administration's plan for storing waste at Yucca Mountain in Nevada.

No wonder Rupert Murdoch is worried about an Obama presidency.