Obama: 'Under my Plan ... Electricity Rates Would Necessarily Skyrocket'
By: Mark Tapscott
Editorial Page Editor
11/02/08 1:49 PM EST
Hard to believe but the headline on this post captures Barack Obama's own words describing one of the direct effects of his proposed energy policy on consumers - skyrocketingt costs for electricity. The statement came in January of this year in an interview with the San Francisco Chronicle.
In the same interview, Obama also promised that anybody who builds a new coal-fired power plant to generate additional electricity to meet growing consumer demand will be "bankrupted" by his energy policy.
Here's the key graph:
"You know, when I was asked earlier about the issue of coal, uh, 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, uh, they would have to retrofit their operations. That will cost money. They will pass that money on to consumers."
Ed Morrissey at Hot Air has the details here.
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