• Under my plan of a cap and trade system, electricity rates would necessarily skyrocket. . . . Because I'm capping greenhouse gases, coal power plants, natural gas-you name it-whatever the plants were, whatever the industry was, they would have to retrofit their operations. That will cost money. They will pass that money on to consumers.

    "Obama: Energy Prices Will Skyrocket Under My Cap and Trade Plan". November 2, 2008.
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