There is nothing wrong with the Obama plan. Most likely the numbers will be adjusted and there will be exception, tax credit, emission credits, etc.
Working as a PR rep for the oil industry in my state, I had a lot of contact with people who want to blame the energy industry for global warming, or my preferred term, climate change. There are a few factors that we are not giving ample attention to. There are more people, utilizing more resources than 100 years ago. We have paved much of the earth so that heat is reflected and not absorbed. Finally, if you look at geological research, you will see that the earth has undergone many periods of changes, they are beyond the control of man.
Finally, the comparison of data such as temperatures and rainfall with that of 100 years ago has many flaws. The instrumentation has improved significantly, the protocols for measuring temperature and rainfall are more consistent. People say we are having more hurricanes. Before we had satellites we probably had hurricanes forming and going through the oceans all the time, but if they did not threaten land, we did not know about them. We have the ability to learn more than we had in the past. We have to develop the ability to understand that the data collected in the past may not be in sync with the data we collect today.