Just a quote from Obama – words right out of his mouth, from the January 2008 interview with the San Francisco Chronicle:
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 I’m 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.
Even if he does manage to cut taxes, which I doubt, this is the other side of the coin.
Obama is going to be a very expensive President, if elected.