May 28, 2017

Real World Consequences of Obama's Coal Wrecking Policy

Timothy Birdnow

Here is what happens when hig government rolls over the public. Peabody Energy, the largest coal company on Earth, went into bankruptcy as Barack Hussein Obama fulfilled his pledge to bankrupt coal producers. No big deal, we were told; "green energy" would more than make up for the losses of jobs, and all would soon be better.

But there are consequences, often unforseen, for the do-gooderism that is liberalism.

From the Belleville News Democrat:

"When you play "Let’s Make a Deal,” you might get a car and a vacation or you might get the Zonk.

Marissa finds itself winning a goat instead of a valuable cash prize following its decade-old deal with Peabody Energy Co.

The 818 water and sewer customers in the village have a $1.06 million debt after Peabody’s bankruptcy. They are repaying the government loan that built water lines and a better water tower to service a Peabody fishing and hunting community that never happened."

End excerpt.

So a small town in Illinois goes belly up and residents are stuck holding a massive debt because Obama wanted to appease the Gang green and their environmentalist cronies.

The good people of Marissa invested in a rock-solid energy company, a local company. But they didn't count on Barack Obama and his Martian tripod warriors at the EPA, who created such draconian regulations on coal fired plants that Peabody, the big dog in coal, and the second biggest coal company on Earth - Arch Coal - bot filed for bankruptcy before The ONe left office.

In 2008 then candidate Barack Obama told the San Francisco Chronicle:

" Let me sort of describe my overall policy.

What I've said is that we would put a cap and trade system in place that is as aggressive, if not more aggressive, than anybody else's out there.

I was the first to call for a 100% auction on the cap and trade system, which means that every unit of carbon or greenhouse gases 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 the rigors of that market and the ratcheted down caps that are being placed, imposed every year.

So if somebody wants to build a coal-powered plant, they can; it's just that it will bankrupt them because they're 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, biodiesel and other alternative energy approaches.

The only thing I've said with respect to coal, I haven't been some coal booster. What I have said is that for us to take coal off the table as a (sic) ideological matter as opposed to saying if technology allows us to use coal in a clean way, we should pursue it.

So if somebody wants to build a coal-powered plant, they can.

It's just that it will bankrupt them."

End excerpt.

Well, when you seek to choose winners and losers in society, you cause a lot of collateral damage. A number of states sued the Obama EPA but Obama simply ignored the courts in a power grab that makes anything Trump has done look like a kiddie game.

Posted by: Timothy Birdnow at 11:06 AM | Comments (54) | Add Comment
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