Obama: Electricty prices under my plan would skyrocket

Hot Air Blog Archive Obama: I’ll make energy prices “skyrocket”

In another clip from the same January 2008 interview with the San Francisco Chronicle in which Barack Obama promised to bankrupt anyone foolish enough to build coal-burning power plants, he also made an interesting admission about his entire energy plan. Obama told the editors that his policies would make energy prices “skyrocket” as the energy industry passed along the exorbitant costs of his cap-and-trade policy:

"The problem is not technical, uh, and the problem is not mastery of the legislative intricacies of Washington. The problem is, uh, can you get the American people to say, “This is really important,” and force their representatives to do the right thing? That requires mobilizing a citizenry. That requires them understanding what is at stake. Uh, and climate change is a great example.

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.

They — you — you can already see what the arguments will be during the general election. People will say, “Ah, Obama and Al Gore, these folks, they’re going to destroy the economy, this is going to cost us eight trillion dollars,” or whatever their number is. Um, if you can’t persuade the American people that yes, there is going to be some increase in electricity rates on the front end, but that over the long term, because of combinations of more efficient energy usage, changing lightbulbs and more efficient appliance, but also technology improving how we can produce clean energy, the economy would benefit.


If we can’t make that argument persuasively enough, you — you, uh, can be Lyndon Johnson, you can be the master of Washington. You’re not going to get that done."


Energy prices skyrocketing will leave the economy in tatters, as we saw earlier this year. While no one doubts the need to start transitioning to better sources of energy, the manner in which that gets done means the difference of whether it gets done at all. A stagnant or receding economy does not produce scientific breakthroughs, especially when government both increases taxes and imposes steep cost burdens on energy. That cuts into both manufacturing and R&D, because as profits fall, fewer dollars go into research — which means that all of these wonderful developments would get delayed, or go unrealized altogether.
We need to plan for the transition better than what Obama proposes. We need to use our own reserves of oil, natural gas, coal, and shale to cushion the economy while we develop the alternatives and build the infrastructure to deliver it. That’s what John McCain proposed in his Lexington Project.
Price shocks on energy is the last thing this economy needs. It would be worse than the taxes Obama promises to impose on investment, and would have the same depressive effect. It’s an utter disaster.






It's amazing how the media just "discovered" this last night.

__________________
These two entities — Fannie Mae and Freddie Mac — are not facing any kind of financial crisis. The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing.” - Barney Frank

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Also, to any foold out there that think Obama is for Coal

Hot Air Blog Archive Obama: We’ll bankrupt any new coal plants

"So, 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."


Over 55% of our electric came from Coal last year

__________________
These two entities — Fannie Mae and Freddie Mac — are not facing any kind of financial crisis. The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing.” - Barney Frank

Idiot test click Here

there goes our freaking tax breaks huh?

If you actually read Obama's cap and trade system, he talks about having this implemented fully by the year 2050, 42 years from now. By that time, we will already have many, many alternative sources of energy, which will lower the overall cost of energy.

http://www.barackobama.com/pdf/facts...ech_080308.pdf

SHORTTERM
SOLUTIONS: IMMEDIATE RELIEF FROM PAIN AT THE PUMP

Barack Obama and Joe Biden recognize that skyrocketing energy costs are taking a heavy toll on
American families. To address the squeeze on Americans, they are calling for an: emergency energy
rebate; an aggressive plan to crack down on speculators; and a swap of oil from the Strategic Petroleum
Reserve to help provide immediate relief from soaring energy prices.
• Immediately Provide Emergency Energy Rebate. Barack Obama and Joe Biden will require oil
companies to take a reasonable share of their record‐breaking windfall profits and use it to
provide direct relief worth $500 for an individual and $1,000 for a married couple. The relief
would be delivered as quickly as possible to help families cope with the rising price of gasoline,
food and other necessities. The rebates would be fully paid for with five years of a windfall profits
tax on record oil company profits. This relief would be a down payment on the Obama‐Biden longterm
plan to provide middle‐class families with at least $1,000 per year in permanent tax relief.
The Obama‐Biden energy rebates will: offset the entire increase in gas prices for a working family
over the next four months; or pay for the entire increase in winter heating bills for a typical family
in a cold‐weather state. In addition, Barack Obama and Joe Biden have proposed setting aside a
portion of a second round of fiscal stimulus to ensure sufficient funding for home heating and
weatherization assistance as we move into the fall and winter months.
• Crack Down on Excessive Energy Speculation. Current loopholes in Commodity Futures Trading
Commission regulations have contributed to the skyrocketing price of oil on world
markets. Barack Obama and Joe Biden will enact simple legislation to close these loopholes and
increase transparency on the market to help bring oil prices down and prevent traders from
unfairly lining their pockets at the expense of the American people.
• Swap Light and Heavy Crude, Release Oil from Strategic Petroleum Reserve to Cut Prices. The
United States’ Strategic Petroleum Reserve (SPR) is there for a purpose: to help Americans in
times of crisis. Barack Obama and Joe Biden believe the doubling of oil prices in the past year is a
crisis for millions of Americans and the transfer of wealth to oil producing countries, many of
them hostile to our interests, is a threat to our national security. With the goal of bringing down
prices at the pump, they support releasing light oil from the SPR now and replacing it later with
heavier crude more suited to our long‐term needs.

David,

When the oil companies get their windfall profit tax, they will pass the tax onto their consumers, just like your Messiah said.

Yes, 1000 bucks in my pocket would be great to cover the gas expenses I have put in etc... however, whats the point if the price of gas because of it is going to go from 2.50 where it's at now to say 3 bucks or whatever they raise it too.

Yes, I am sure in 2050 we will have great sources of renewable and alternate technology.....however thats in 40 years he is going to start implementing his awful policies and our utility bills are going to "skyrocket".

Also, I love how getting 70,000 barrels a day from the SPR is going to help the pain at the pump, but yet 1 mill barrels a day from ANWR will do nothing

__________________
These two entities — Fannie Mae and Freddie Mac — are not facing any kind of financial crisis. The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing.” - Barney Frank

Idiot test click Here