Pulling the receipt…
Pulling the receipt…
MEBRO
06/18/26 · 11:41 PM UTC · 10 SOURCES
“Barack Obama actively tried to bankrupt the American coal industry.”
HIGH CONFIDENCE
TL;DR ·Obama stated his policies would bankrupt new coal plants and cause electricity prices to skyrocket.
In a 2008 interview, then-candidate Barack Obama stated that under his proposed cap-and-trade system, anybody who wants to build a coal-fired power plant could do so, but the policy would bankrupt them because of the high cost of carbon emissions . He also declared that under his energy plan, electricity rates would necessarily skyrocket . These statements, combined with subsequent environmental regulations, are cited by industry advocates and government reports as evidence of an intentional campaign to move the country away from coal . Between 2008 and 2016, the industry experienced a sharp decline, with more than 83,000 jobs lost and roughly 400 mines closed . While some analysts note the bankrupt comment specifically referred to the economic viability of new coal plants rather than the immediate closure of all existing ones, the resulting regulatory environment was cited by major coal companies as a primary reason for their financial distress and eventual bankruptcy filings . Data shows that more than one in five coal-related jobs disappeared during his presidency as the industry faced shifting market conditions and increased federal oversight .
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