That's another unofficial GOP campaign tactic. The London Times reports that a GOP activist has tried to get an Oxford to "prove" that Williams Ayers was the ghost writer for one of Obama's books. We have the "revelation" that one of Obama's aunts is living in the country illegally. And, from Brent Bozell's wackos at Newsbusters, we learn that Obama plans to bankrupt the entire coal industry!
In other news, Cheney endorses McCain, which is like Dracula endorsing Granpa Simpson. That kinda overwhelms that late smear campaign and I'm very glad to see that once again, the Obama campaign wasted no time in using this in an ad.
Sunday, November 02, 2008
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2 comments:
The people that are wound up about what Obama said obviously do not understand the idea of cap and trade systems. Such a system would make it near impossible to expand coal beyond the current levels (about half of electricity). It would not close down existing power plants or bankrupt the entire coal industry.
Cap and trade systems were devised by (mainstream and conservative) economists who think it would be better to use economic forces and markets to gradually bring about changes, rather than use command and control government regulations.
In a coal cap and trade system, existing users (power plants and industry) would be given coal use credits based on how much they are using now. Those credits could be sold or transferred. If someone absolutely had to use coal for a new power use, they would have to go out and obtain credits from someone else that had them. If a coal plant somewhere converted to something that was carbon free (nuclear, wind, solar, geothermal, etc), then they would be in a position to sell the credits that they had been using for the coal plant. Selling them would help fund the conversion to less polluting sources of energy.
These type of last minute alarmist warnings are rather boring - especially when they are based on distortions. Obama would cap coal use at current levels, not close down the entire industry.
ANON -
Thanx for the informative post.
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