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I knew fight against global warming sparking worries of a -- freeze on job creation.
President Obama launching his latest green initiative.
This one clamping down on power companies businesses lawmakers both sides of the aisle calling it a war on coal and on job.
Declaring a war on coal is -- -- -- -- declaring a war on draw.
Should not have to be said here's a US senator fighting my own president makes no sense to run our economy in the most delicate times in a continuation.
Of the war on coal.
-- only make matters worse.
Thousands and thousands of Americans out of work.
Are they writes hi everyone I'm Brenda -- -- is Bulls and Bears let's get dry day you do it.
Here they are the Bulls and Bears this week Gary B Smith Jonas Max Ferris John Layfield.
Along with Larry Glazer and -- -- green welcome everybody Larry will the president's new fight against global warming short circuit the job market.
Brenda this is yet another back -- tax that's being assessed on businesses and consumers in this country.
It will raise costs for everyone in the form of higher electricity prices it would pass through to all of us.
Ultimately that will hurt jobs and it is hypocritical because it is essentially gonna shut down 300 coal fired power plants without a comprehensive.
Long term energy strategy to replace those with -- keep electricity flowing in our homes.
That's why it's a problem that's why it's gonna hurt the economy Jim now.
What do you think.
Up front though we do not have to choose between the health of our kids in the health of our economies.
We you know that when we bands.
You know leaded fuel and we blame we -- You know things that were bad for our kids in the twins they're playing with it didn't kill the plastic since -- industry it didn't kill the oil industry.
And it's so -- what Larry is saying is that he has a really you know bad lack of faith in our American companies to innovate I don't have that lack of faith.
I know that small business owners and the CEOs of Wal-Mart CEO of Honeywell they believe the clean energy economy.
That we can.
-- climate change.
Protect our environments.
And have a strong economy they don't have to be separate Gary B it's a pretty tepid job market as it is as.
Something like this NN NN really -- left.
It's -- absolutely.
Kill us and it's not gonna kill any kids as student who.
That kind of talks about coal industry has been innovating far hundreds of years to -- so I don't think that's gonna stop but let me read.
Some of the stats Brenda and I hate to be a mind game but there -- important points.
That's just recently been studied about and I think rightly so president Obama's attack on coal.
First thought we have about 500 years of low low electricity in Colson just kind of attacking it right there -- an attacking one of the cheapest energy source we have but.
Employment falls by 500000.
Barely a fourth annual income dropped by a thousand dollars a year GDP.
Decreases by one point 47 trillion.
-- I could go on and on but I'm sure others will make -- similar points attacking this industry which by the way has been it.
In terms of producing clean coal.
Energy is -- Ludacris just by the numbers alone.
-- -- there's a short term -- long term do you think this is war on jobs.
Well we don't.
You -- -- he -- to make the environment.
The goal is not to create jobs is unfortunately you -- you -- job market sometimes I will say if we if we put out the old coal -- so to say with regulations.
Someone's got to build gas fired called power plants were gonna -- in -- -- -- actually in theory could create jobs.
It is but it is a drag on the economy for the government to artificially dictate who's a winner and a loser.
In the power game.
But it could be done a little better than that if we just had to higher taxes let's say across energy.
We would consume less and then -- they offset that revenue with lower income taxes that would be good for the job market.
And a more efficient way to raise revenue anyway -- -- lower income workers but currently there's no plan to do it that way so it will be more of a drug in the economy.
John Donna says that there's a possibility it could create jobs but what do you think if this is this -- war on jobs.
Yeah I think it's -- war on jobs and look when you don't have a rational are factual based argument you bring up some emotional arguments that.
Kids are dying and that's how you go about emotional argument.
I'm not sure why the president is bringing this up right now made -- to get away from the scandals maybe just distract attention away.
Made it to try to fulfill his legacy that he said he was gonna have the oceans recede once he became president.
But -- -- a reason that they're -- -- five to zero was the senate vote under President Clinton to get out of the Kyoto Protocol.
There was a reason that when President Obama first took power he could get healthcare pass without one single Republican vote.
But he couldn't get climate change bill passed because this as a bad deal look how would love that never burn coal again.
-- is not an option right now I would love that never drill and oil well again there's not an option right now we have the cheapest electricity pretty much in the world as well -- manufacturers coming back.
This kills the golden -- All right what do you think about that you -- Well first of all this is going to be a long process with.
Very specific in serious input.
From industry leaders but I I lessons about fellas and I think they say like people.
Back in the eighteen hundreds when -- this steam engine was going in and they weren't sitting there saying well what are we gonna do we're taking business away from horse farmers.
Come on guys.
We have the ability to innovate we have -- really I don't think monsoonal.
From the -- do you have a and I -- -- I have threatened to get them -- -- -- ahead.
There that president back then was not attacking these steam engine industry that's me.
-- history of slowly went out of business because -- been -- best of -- It tell us something better out there that was cheaper believe me entrepreneurs would jump on and it wind was cheaper solar received what it would have effectively put Cole added out of business -- -- need the president.
And our congress the put call out of business let me -- on its own.
Adding I don't know -- I don't -- next.
Entrepreneur to have ground that's bad just like the -- I'm -- I can't (%expletive) yeah that's I got I got let Larry get in there.
You know my point is simply that -- we talk about a lack of comprehensive long term energy strategy domestic energy is part of the solution is not part of the problem.
And what we failed to recognize this is nothing about -- this is about the railroads the transport the -- this is about all the jobs integrated trucking and specialty -- all those -- that they'll be affected by -- regulation that is simply pandering to special interest without considering a long term strategy we have a lot of energy plant in 35 years have been talking about in this country and we know energy independence is right around the -- it's finally within our site we need to open our -- to -- rather than by special projects that have no return on investment and -- -- -- -- the jobs that the energy industry produces in this country.
-- hot -- this administration would love to take us back to the horse to budget I make.
I thought they haven't it did -- -- -- Candidate Obama in 2008 said that he wants to put such a heavy punitive tax owned coal plants.
Then we will never build another one his own climate advisor this week came -- and said yes a war on coal is exactly what we need.
And but you have to understand.
There's not a brand right now but against -- -- that alternative energy future.
You Windmills are great solar panels are wonderful it's not enough to power our country right now.
-- -- -- -- -- -- If this is the seventies you guys be saying the same thing about making us have catalytic converters on cars when in fact not our -- why why does that sound and it's in our country -- the burden on the auto -- on the consumer had to pay for plot and -- it's a lot of cost.
Yet our cities are clean and if you go to Mexico City and some are.
It's not like -- or Beijing so there's some benefits beyond jobs to making your environment that are okay thanks fat that's got to be the last word.
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