Can Obama "bankrupt" the coal industry?

Leadership or naivete?

If elected, Barack Obama plans to put in place a cap and trade system that will "bankrupt" the coal industry according to The Record.

Considering the massive amount of coal that the US uses to generate electricity, such a system, it seems, could have a significant effect on utility rates for many consumers, as the replacements to this coal would be very expensive, especially in the short term.

Of course, if the US could get off coal and foreign oil, the technologies developed along the way would probably cover the short term costs in the long haul. Still, can anyone sell such a plan to the American people, especially in a recession?

I doubt it, but I'd love to see someone try. Hopefully, he'll throw in a gas tax as well.