June 13, 2011

Crony Capitalism and Obama's Anti-Coal Crusade

By Ed Lasky
Barack Obama has long sought to bankrupt the coal industry. But, Cook County politician that he is and always will be, the relevant question is: who benefits from his plans wreck a major portion of our economy while also boosting electricity prices across America? A clue: he and his pals from Chicago have incestuous ties to the one company whose prospects will be boosted by Obama's policies. While Barack Obama has broken many promises he made along the campaign trail to the Oval Office, one promise seems close to whatever heart he may have: to bankrupt the coal industry. He told the editorial board of the San Francisco Chronicle on January 17, 2008 of his plans: q/ 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...(Read Full Article)