Europe exits climate money pit as Obama jumps in

Myron Ebell, director of the Center for Energy and Environment at the Competitive Enterprise Institute, told me, "The centerpiece of President Obama's climate plan is a declaration of all-out war on coal. The only affordable way to reduce emissions from existing coal-fired power plants – which now provide 40 percent of the nation's electricity – is to close them down."

Obama's plan has political implications as well, Ebell said. "Coal dominates the heartland states that tend to vote Republican. Major industries are located there because coal produces cheap electricity. If electric rates go up to California levels in the heartland, where will American manufacturing go?"

Ebell added that "Obama is pursuing his anti-energy agenda undemocratically through executive actions that bypass the people's elected representatives in Congress."