Posted on 06/22/2012 9:47:30 AM PDT by george76
In January 2008 Barack Obama told the San Francisco Chronicle:
“Under my plan of a cap and trade system electricity rates would necessarily skyrocket. Businesses would have to retrofit their operations. That will cost money. They will pass that cost onto consumers.”
He promised that his plan would cause electricity rates to skyrocket.
He wasn’t kidding.
Now thanks to Barack Obama’s radical energy policies, electricity rates are skyrocketing across the country and coal plants are shutting their doors. New regulations by the Obama Administration is forcing Arch Coal, Inc. to lay off 750 workers in Kentucky, West Virginia and Virginia.
(Excerpt) Read more at thegatewaypundit.com ...
Those wouldn’t be union jobs, would they?
500 miners laid off in Pike County, Kentucky alone this week.
No surprise. Bambi AND Biden came right out and said they would bankrupt the coal industry.
It appears that Arch Coal isn’t a union shop, hence of no concern to the Obama administration.
Just this morning I sold off the remainder of my coal company investments; decided gold/silver a better long term bet.
They are just collateral damage in the war on capitalism.
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