Shock Audio-Obama promises to bankrupt coal industry(San Francisco Gate Interview January 17 2008)

As this shock audio (San Francisco Gate Interview January 17 2008) points out, Barack Obama promises to bankrupt the coal industry in coal states such as Virginia , Ohio, Pennsylvania, Colorado, Indiana . This will have devastating consequences for their economies. Obama is clearly out of touch with economic reality.

"Let me sort of describe my overall policy.
What I've said is that we would put a cap and trade system in place that is as aggressive, if not more aggressive, than anybody else's out there.
I was the first to call for a 100% auction on the cap and trade system, which means that every unit of carbon or greenhouse gases emitted would be charged to the polluter. That will create a market in which whatever technologies are out there that are being presented, whatever power plants that are being built, that they would have to meet the rigors of that market and the ratcheted down caps that are being placed, imposed every year.
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."

More Carbon Tax nonsense from Ireland's ESRI

The The Economic and Social Research Institute (ESRI) claims that an EU-wide tax on CO₂ emissions would ensure that Irish industries, like farming, would not be at a disadvantage compared to other European countries.
I would suggest that the learned gentlemen of the ESRI should get out of their academic ivory tower.They are insulated from reality. Pronouncements from this body are treated as gospel. To question its findings is a form of sacrilege. Well the time has come to bin some of its suggestions.

With sky rocketing oil prices on the world market, huge petrol and diesel price rises have fed through to industry and the consumer. This is a carbon tax in action. Farming,fishing,transport and industrial sectors of the Irish economy are in dire straits. Unemployment has risen sharply.The ESB has announced a 17.5% price rise in electricity for August 1st. with another hike due in January 08. Huge gas price rises are in the pipeline. These will cripple consumers and the productive sector.

The ESRI claim-that an EU wide carbon tax would not leave Irish industry and agriculture at a disadvantage to the other EU countries-indicates the limited nature of the Institute’s thinking. Irish industry and agriculture compete on a world wide basis and not just on an EU basis. Meanwhile countries such as India,China,Russia plough ahead with a massive expansion in the generation of electricity using fossil fuels. Their Governments have no intention of cutting back on the use of fossil fuels.

We already have carbon taxes in operation in Ireland at present. Enough is enough. Any weakening in the value of the Euro would further exacerbate the situation. It is time for the learned gentlemen of the ESRI to come up with something practical for a change. Theoretical models will not put bread and butter on the table.