In an interview with Rolling Stone magazine, Barack Obama reaffirmed his commitment to passing cap-and-trade legislation that would skyrocket energy costs for American households and kill American jobs. The president said the current session proved difficult for such legislation, but he’ll be back next year.
In an interview published Tuesday by Rolling Stone magazine, Obama lamented how the economic crisis contributed to this year’s Senate stalemate over a comprehensive bill to cap carbon dioxide emissions and establish renewable power standards.
But for the first time, Obama publicly committed to trying again next year.
“One of my top priorities next year is to have an energy policy that begins to address all facets of our overreliance on fossil fuels,” Obama said. “We may end up having to do it in chunks, as opposed to some sort of comprehensive omnibus legislation. But we’re going to stay on this because it is good for our economy, it’s good for our national security and, ultimately, it’s good for our environment.”
Obama didn’t elaborate on specific pieces he’d like to see move in the next version of energy and climate legislation, but ideas floating around on Capitol Hill include a nationwide standard for renewables and a limit just on greenhouse gas emissions from power plants.
Limits on emissions from power plants would result in higher costs for energy producers. Guess who bears the burden of such higher costs? That American consumer, in the form of a higher energy bill every month. It also means killing jobs, with both companies and consumers having less disposable income with which to move the economy.
Yeah, that’s just what we need with a 9.6% unemployment rate and weak GDP growth. We need to increase costs on the private sector and kill even more jobs. Because somehow that’s a recipe for economic growth. What could possibly go wrong?


by Stephan Tawney on September 28, 2010