Time for Everything
1/21/14 at 09:42 PM 0 Comments

Obama: "Under My Plan ... Electricity Rates Would Necessarily Skyrocket"

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In January of 2008 Senator Barack Obama was questioned by the San Francisco Chronicle regarding the energy policies he would support if elected president. That energy policy may soon be implemented.

Here is video from that interview.

Obama: My plan makes electricity rates skyrocket

Obama said:

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, they would have to retrofit their operations. That will cost money. They will pass that money on to consumers.

Photo: Flickr/Rennett Stowe - Creative Commons
"Coal-fired Power Plant"

According to The Weather Channel, the new standards would limit carbon dioxide emissions for the average coal plant by 600 pounds of carbon dioxide per megawatt hour of power produced.

The Environmental Protection Agency's new policy can be viewed at the Federal Registry. The EPA will stop receiving comments on the proposed policy on March 10, 2014.

Some critics claim the new regulations are impractical and will destroy the coal industry.

In 2012 The New York Times reported, "Carbon capture has so far proved too expensive to be practical because the chemical work of separating carbon dioxide from the other components of exhaust gas requires large amounts of energy."

Still, the EPA policy does have its supporters. In a press release last year environmentalist Nia Martin-Robinson stated, "The Sierra Club and our 2.1 million members and supporters applaud President Obama and the EPA for holding the industries that create the lion’s share of the nation’s carbon emissions accountable for their pollution."

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