Obama Advances Plan to "Bankrupt" Coal Industry With New CO2
Barack Obama's 2008 promise to "bankrupt" the coal industry is now coming to fruition with the EPA's announcement of crippling CO2 emission limits on new plants that will effectively block the building of any new coal plants in the United States, accelerating the move towards total deindustrialization.
"The Obama administration proposed on Tuesday the first ever standards to cut carbon dioxide emissions from new power plants, a move likely to be hotly contested by Republicans and industry in an election year," reports Reuters.
The enforcement of the new measures, which will force new plants to cut CO2 emissions by 50 per cent and also mandate investment in unaffordable technologies to bury carbon emissions underground, marks the realization of Obama's 2008 promise to "bankrupt" the coal industry.
During an interview with the San Francisco Chronicle in January 2008 when he was still a Senator, Obama stated, "If somebody wants to build a coal-powered plant, they can, it's just that it will bankrupt them."
Since Congress successfully defeated Obama's disastrous climate bill in 2010, which would have imposed similar measures, the EPA has simply declared CO2, the life-giving gas that plants breathe, to be a deadly poison, and will impose the limits by dictatorial fiat.
The move will undoubtedly send already sky high gas prices soaring further, savaging an already fragile economy, and will virtually guarantee America's path to deindustrialization.
Groups like the Edison Electric Institute have previously warned that the new rules eventually “cost utilities up to $129 billion and force them to retire one-fifth of coal capacity,” prompting a wave of coal plant shutdowns. Americans will be hit with more energy rate hikes even as they struggle to pay the bills now.
The new proposals would also set the stage for existing coal plants to come under the same draconian EPA mandate.
Whereas China and Mexico are allowed to build dozens of new power plants every year, the United States is barely permitted to construct a handful, as the Environmental Protection Agency takes control of refineries and power plants under the completely fraudulent pretext of preventing global warming, even as new CO2 models relating to climate change are proven woefully wrong yet again.
The Obama administration's declaration of war on the coal industry has also led to rolling blackouts as Americans are forced to foot the bill as part of the move towards a “green economy,” which has little to do with the environment and everything to do with hollowing out America’s industrial base so that the country may be more easily swallowed up by the “post-industrial revolution” that remains the goal of the global elite.
Despite White House Communications Director Dan Pfeiffer’s brazen lie in claiming that last winter's blackouts were solely a result of “mechanical failures,” the Electric Reliability Council of Texas, the agency that oversees the state’s power, confirmed that the increasing likelihood of blackouts was a result of a “maxed out grid”.
This “maxed out grid” is a consequence of federally enforced EPA restrictions that have led to the delay, mothballing and closing down of coal-fired plants. In Texas, approval for the much-needed Las Brisas Energy Center has been delayed for years as a result of EPA meddling in Texas’ energy policy.
Numerous other coal power plants around the country that would have eased America’s artificially created energy crisis have also been shut down or abandoned.
Watch a video below in which Alex Jones explains the agenda behind Obama's promise to bankrupt America's coal industry.
Paul Joseph Watson is the editor and writer for Prison Planet.com. He is the author of Order Out Of Chaos. Watson is also a regular fill-in host for The Alex Jones Show and Infowars Nightly News.