Electricity Bills Are About to 'Necessarily Skyrocket'

In January of 2008, then Senator and presidential candidate Barack Obama, talking about his energy plan, told the San Francisco Chronicle, “When I was asked earlier about the issue of coal…under my plan of a cap and trade system, electricity rates would necessarily skyrocket…” He wasn’t kidding.

While he was talking about his cap and trade plan, something that went nowhere in Congress, even when Democrats controlled it with a filibuster-proof majority in the Senate, his objective of changing how we generate electricity hasn’t changed. Neither has his lack of concern for the cost to consumers.

President Obama hates coal because he has deemed it too “dirty.” It’s also the largest generator of electricity in this country. Were there a cheaper, easier (and even cleaner) source of electricity generation the market would have embraced it because that’s how markets work. But there isn’t, at least not yet. 

More