Wednesday, November 19, 2008

Obama & Climate Change2

On Tuesday at a governors' conference, Mr. Obama reiterated his intent to cap emissions of greenhouse gases and allow companies to trade permits to emit pollutants like carbon dioxide. Those policies foresee $15 billion a year going to alternative energy sources and nuclear power, while pushing the price of coal up substantially, by forcing coal-fired utilities to purchase the right to burn it.

Candidate Obama said that under his policies, "If somebody wants to build a coal 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."

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