Did Obama Just Promise To Raise Energy Prices?

obamaAfter President Barack Obama touted record-low gasoline prices during his tenure in his State of the Union address Tuesday, he quickly promised to make energy more expensive for Americans by making oil and coal “reflect the costs” of global warming.

“Now we’ve got to accelerate the transition away from dirty energy,” Obama said. “Rather than subsidize the past, we should invest in the future – especially in communities that rely on fossil fuels.”

“That’s why I’m going to push to change the way we manage our oil and coal resources, so that they better reflect the costs they impose on taxpayers and our planet,” he said. “That way, we put money back into those communities and put tens of thousands of Americans to work building a 21st century transportation system.”

Obama didn’t offer any specifics on what exactly he would do to make producing oil and coal reflect the alleged costs they impose on the climate, but the president already has some tools to make using fossil fuels more expensive.

For starters, the Obama administration has developed what’s called the “social cost of carbon” estimate — a measure of the incremental economic cost of emitting carbon dioxide into the atmosphere. The highly contentious SCC estimate is already being used to justify costly regulations on coal-fired power plants and stricter emissions standards for cars.

Obama can also raise the cost of drilling for oil or mining coal on federal lands. The Interior Department is already pressing to increase the amount coal companies pay to mine on federal lands amid cries from environmentalists to make these companies pay more. With coal prices low from lagging demand, companies would be hard-pressed to pay higher royalties to the government.

“None of this will happen overnight, and yes, there are plenty of entrenched interests who want to protect the status quo,” Obama said. “But the jobs we’ll create, the money we’ll save, and the planet we’ll preserve – that’s the kind of future our kids and grandkids deserve.”

It’s not clear if Obama will also raise rates on oil production on federal lands, especially since he’s been heavily criticized for lagging crude extraction on government-owned property. While oil production has boomed on private and state lands thanks to hydraulic fracturing, production on federal lands has faltered.

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    Amber

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    Obama is consistent . Democrats support MUCH higher energy prices. ( HIGH FUEL TAXES ). Run on that Clinton . Good luck .

    Don’t you just love Democrat weasel words like … “I’m going to push to change the way we manage our oil and coal resources so they better reflect the costs they impose on taxpayers and the planet . ”

    Oil and coal area natural part of the earth so how is he going to” better reflect the costs they
    impose ” on the planet .
    Why is he so scared to just say what he means … I want to use the green guilt of Americans burning the earth’s oil and coal to
    raise taxes drastically . Isn’t that just a little more honest . He could add .. I really don’t give a crap about making the poor chose between fuel or food as they do in Britain or even selling out American jobs . I have my future career to think about . Suck it up cream puffs you are about to pay way more taxes
    and if you want to pretend to you are saving the planet …well no one said you were that smart anyways .

    ISN”T IT TIME AMERICA ‘s TOOK BACK THEIR COUNTRY ?

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    Charles Higley

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    ““That way, we put money back into those communities and put tens of thousands of Americans to work building a 21st century transportation system.”

    Right. He’s going to start a whole bunch of bicycle factories, so we can look more like Red China. We will have tin can cars with flammable batteries for a little while until he makes even charging them too expensive for the poor citizens we will be, as he lowers our standard of living to that of a third world country.

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    Charles Higley

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    Do not forget that he is following the lead of Agenda 21 and the model country for these goals is North Korea.

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