OBAMA: So if somebody wants to build a coal-powered plant, they can. Its just that it will bankrupt them because theyre going to be charged a huge sum for all that greenhouse gas thats being emitted.
You know, when I was asked earlier about the issue of coal, uh, you know 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 Im capping greenhouse gases, coal power plants, you know, natural gas, you name it whatever the plants were, whatever the industry was, uh, they would have to retrofit their operations. That will cost money. They will pass that money on to consumers.