So if somebody wants to build a coal-powered plant, they can; it's just that it will bankrupt them because they're going to be charged a huge sum for all that greenhouse gas that's being emitted.
If we choose to keep those tax breaks for millionaires and billionaires, if we choose to keep a tax break for corporate jet owners, if we choose to keep tax breaks for oil and gas companies that are making hundreds of billions of dollars, then that means we've got to cut some kids off from getting a college scholarship.
Under my plan of a cap and trade system, electricity rates would necessarily skyrocket… Because I’m capping greenhouse gasses, coal power plants, natural gas…you name it…whatever the plants were, whatever the industry was, they would have to retro-fit their operations. That will cost money…they will pass that money on to the consumers.
If you think that we've overregulated in the environmental space what I can show you is that we have tripled the amount of wind power in this country, increased by tenfold the amount of solar power. We are producing as much oil and gas as we've ever produced.
We've got to control our own energy. Now, not only oil and natural gas, which we've been investing in; but also, we've got to make sure we're building the energy source of the future, not just thinking about next year, but ten years from now, 20 years from now. That's why we've invested in solar and wind and biofuels, energy efficient cars.
The Russians can't change us or significantly weaken us. They are a smaller country. They are a weaker country. Their economy doesn't produce anything that anybody wants to buy, except oil and gas and arms. They don't innovate. But they can impact us if we lose track of who we are.
Just from a political perspective, do you think the president of the United States going into re-election wants gas prices to go up higher? Look, here's the bottom line with respect to gas prices: I want gas prices lower because they hurt families.
Gas tax holiday is a classic Washington gimmick.
I want to control our own energy by developing oil and natural gas but also the energy sources of the future.
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