Does Obama Really Want to Bankrupt the Coal Industry?


Our election night partners at Hoosier Access have a detailed post on this, but it seems Barack Obama actually told the San Francisco Chronicle that he would like such aggressive cap and trade measures put in place that it would bankrupt the coal industry?

Read the full post with audio here, and decide for yourself.

Indiana Coal Production since 2004:
2007 – 34,231,151 tons
2006 – 34,715,610 tons
2005 – 34,460,052 tons
2004 – 35,240,514 tons

In Indiana, we still have a rather heavy reliance on coal and it should be noted that Duke Energy is currently building the first large-scale clean coal plant in Edwardsport.

Not only would a collapse of the coal industry be detrimental to Indiana, but it would have an even greater impact on top coal producers like West Virginia, where the industry provides around 40,000 jobs.

Update: As you might imagine, those who understand coal’s contribution to the national economy aren’t super enthused about Obama’s comments. Mike Carey, president of the Ohio Coal Association, issued a press release today and mentions Indiana in his remarks:

"These undisputed, audio-taped remarks, which include comments from Senator Obama like ‘I haven’t been some coal booster’ and ‘if they want to build [coal plants], they can, but it will bankrupt them’ are extraordinarily misguided.

"It’s evident that this campaign has been pandering in states like Ohio, Virginia, West Virginia, Indiana and Pennsylvania to attempt to generate votes from coal supporters, while keeping his true agenda hidden from the state’s voters.

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