VIDEO: Obama in 2008: My Plan Will Cause Electricity Rates to ‘Necessarily Skyrocket’

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Remember when President Obama and his band of Democrats promised that job-killing Obamacare regulations would improve our economy and make healthcare more-affordable? The same line of “logic” spewed from the White House this week as Obama announced his plan to reduce carbon emissions by 30%.

Though government is needed for a great many things, ever-increasing government regulation remains at the heart of American economic woes and Obama’s power plan not only increases the cost of energy for each and every American, but he damn well knows it, too.

In 2008, before ascending to the Oval Office, Obama noted the inarguable, ironclad rule of American commerce: increased government regulation that proves costly to industries will cause these companies to pass these costs onto the consumers.

In an interview with the San Francisco Chronicle, Obama said:

“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.”

“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, they would have to, uh, retrofit their operations. That will cost money. They will pass that money on to consumers.”

On one hand, it’s great to see that Obama appears to have a basic understanding of how businesses work (despite never actually holding a job centered on tried-and-true business practices). On the other hand, it’s maddening to see that while Obama appears to understand that putting the squeeze on energy companies will create skyrocketing price increases, it seems that that has been his goal all along.

The Daily Caller remarks on this cause-and-effect relationship:

Interestingly enough, the day Obama announced EPA regulations to reduce carbon dioxide emissions from power plants the coal company Alpha Natural Resources filed for bankruptcy. The EPA’s regulations, called the Clean Power Plan, are expected to retire upwards of 90 gigawatts of coal-fired power generationin the coming years, reducing demand for coal and forcing mines to shutter.

While some companies thrive and others fail, Alpha’s bankruptcy is not a result of market conditions, but as a result of increased regulation that squeezes companies and the American consumers who rely upon them both for employment and the continuation of services and goods.

Obama will be packing his bags before too long and before he goes, he seems hell-bent on damaging this country as quickly as he can in order to secure a legacy for himself.

The ironic part, however, is that Obama will not be remembered as an FDR- a president whose failings were obscured by a world war; he will be remembered as a Jimmy Carter, the most-embarrassing president our nation has ever endured (until now).

About the Author

Greg Campbell
Greg Campbell
An unapologetic patriot and conservative, Greg emerged within the blossoming Tea Party Movement as a political analyst dedicated to educating and advocating for the preservation of our constitutional principles and a free-market solution to problems birthed by economic liberalism. From authoring scathing commentaries to conducting interviews with some of the biggest names in politics today including party leaders, activists and conservative media personalities, Greg has worked to counter the left’s media narratives with truthful discussions of the biggest issues affecting Americans today. Greg’s primary area of focus is Second Amendment issues and the advancement of honest discussion concerning the constitutional right that protects all others. He lives in the Northwest with his wife, Heather, and enjoys writing, marksmanship and the outdoors.
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