"Tax-and-Bankrupt" Energy Policy

Let's cap all the hot air from D.C.

During a long but little-reported interview with the San Francisco Chronicle in January 2008, candidate Barack Obama explained how his "cap and trade" energy policy would affect consumers if he became president:

"Under my plan of a cap and trade system, electricity rates would necessarily skyrocket….Because I'm capping greenhouse gases, coal power plants, you know, natural gas, you name it — whatever the plants were, whatever the industry was . . . they would have to retrofit their operations. That will cost money. They will pass that money on to consumers."

Unfortunately, this is one of the campaign promises that Obama plans to keep.