It was all a part of the plan from the beginning. Obama even admitted as much back in 2008 when he promised that energy costs were going to necessarily skyrocket. Here’s what he said:
“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. 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 I’m capping greenhouse gases, coal power plants, you know, natural gas, you name it — whatever the plants were, whatever the industry was, they would have to, uh, retrofit their operations. That will cost money. They will pass that money on to consumers.”
As a result, jobs were going to be lost because of increasing regulations that would cripple certain sectors of the energy industry, including coal. Ever since Obama took office, he’s stayed true to his promise of bankrupting the coal industry. Tens of thousands of coal jobs have been lost. But it was all for a good cause: to hand the monopolistic reins over to the “green” industry to save the planet from global warming. The Daily Caller reported:
A report by the American Action Forum found that under the Obama administration coal mines shed 3,702 jobs from 2008 to 2013 and power plants shed 39,684 jobs. Coal mine jobs have slid even further since then, from 76,100 in January 2014 to 71,300 last month, according to the Bureau of Labor Statistics.
AAF argues that over regulation by the EPA and other agencies has burdened the coal industry with billions of dollars in regulatory costs in new clean air and water regulations. Economy-wide AAF argues that for every $1 billion in regulatory costs, industries shed an average of 8,100 jobs.
“Nowhere is this phenomenon more stark than in fossil-fueled power plants and coal mining. Regulators have added more than $10 billion in burdens on this industry since 2011, with the promise of at least $10 billion more in the immediate future,” said Sam Batkins, director of regulatory policy at the American Action Forum.
The Obama administration is systematically destroying the economy. It’s a sacrifice they’re willing to make to “save the planet.”