Obama intends to bankrupt you.
Interviewer: Alternatives including coal or?
Obama: Let me sort of describe my overall policy. Now what I have said is that we would put a cap and trade system in place that is more that is as aggressive if not more aggressive as anybody else’s out there.
I was the first to call for a 100% option on the cap and trade system which means that every unit of carbon or greenhouse gases was 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 those the rigures of that market and the ratcheded down caps are placed imposed every year.
So if somebody wants to build a coal power plant they can. It’s just that it will bankrupt them because they are 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, bio-diesel and other alternative energy approaches.
The only thing that I have said with respect to coal, I havent been some coal booster. What I have said is that for us to take coal off the table as an ideological matter as opposed to saying if technology allows us to use coal in a clean way we should pursue it.
Biden: No coal plants are in America, build them if they are going to build them over there. Make them clean because they are killing you.