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Obama pledges to "bankrupt" the coal industry News Team

At a campaign stop in San Fransisco, Obama pledged to institute a greenhouse gas tax on coal burning power plants that will bankrupt the coal industry,

Approximately 49% of all electricity produced in the United States is from coal. “Bankrupting” the coal industry would increase the electric bill’s of American’s by several fold and multiply our dependence of foreign energy sources.

The coal industry provides tens of thousands of high paying jobs in mining, railroads, and power plants.