"Under my plan, energy costs will necessarily skyrocket." -- Democratic Presidential candidate Barack Obama in January of 2008, as told to the San Francisco Chronicle. Video here.
Those powerful words, a dark omen of what was to come, are now coming into fruition.
Today the Washington Post and Bloomberg are reporting that the Environmental Protection Agency (EPA) plans to implement sweeping new regulations that will shut down coal plants across America, resulting in a steep spike in electricity costs and rolling blackouts across the country.
Coal is the source of nearly half of the electricity generated in America today. Without coal electricity will immediately become more costly to produce, and electric companies will be faced with shortages, forcing them to implement rolling backouts in order to accommodate severe power shortfalls.