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Executive orders that means going to the EPA and going around congress Grover Norquist is -- -- -- this sounds to me like a back door carbon tax by any other name how do you say it.
While the president did tell us he was going to do this when he ran in 2008.
Remember he announced -- what of this fund -- that his -- is basically to drive the coal industry and coal fired electricity.
Out of business.
By raising their prices now I wanted to do it -- that upfront tax but he hasn't been able to sell that.
So what he's gonna do here is have regulatory cost that will bankrupt coal miners.
But coal miners out of work and West Virginia he doesn't care they'll vote for him.
Western Pennsylvania he doesn't care that -- vote for him you look at where they roll call broke off line call.
They'll vote for help.
And it got to drive the cost up on call.
To try and create the alternative politicized.
Energies that make campaign contributions.
To the Democratic Party that solar and wind and so on I look maybe I'm stretching a point here but I think this climate speech may have.
And be having some impact on the market today because the end result of what the president is gonna say is.
Hi -- -- prices at some point in the future.
Juicy juice goes off and I don't think investors particularly like that when you -- but.
I don't think that's exactly what's happening in that mean what's the other reason and he's not -- if you -- to introduce a energy tax the markets like -- -- Republican House won't happen.
Wouldn't affect the markets.
But what he's announcing -- he intends to do this stuff by executive order it could take -- a long time in court to try and undo any of that.
The democratic senate will -- quietly as -- destroys the coal industry and drives up the price of energy and electricity for the American people.
So he can do a lot of damage all by himself.
I think his play it runs as follows do the damage through.
Then the industry comes to you bagging -- less destructive acts.
And then -- then you're off to the races to get an energy tax.
Hey BTU tax.
Carbon tax which is that more first down the road into a value added tax.
Because the energy guys go -- just us let's get everybody else just -- us the business community to help them raise these -- take a look at.
Coal stocks at the moment now that's a slam Grover you probably can't see this -- I'm telling you.
They're old down 56711%.
-- that's a serious drop.
-- we leave you Grover we always ask you questions about taxes.
Can I ask a question about Ben Bernanke you blame him -- creating a bubble in the stock market and elsewhere.
-- here and check -- to that answer was kind of predictable wasn't so.
Did do you approve of him quitting the printing business.
Here's the challenge having the -- create these problems and -- -- you're not going to do it anymore.
The problems you've created are still there so I don't -- it get you any time out of purgatory at all okay.
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