Conoco BP and Caterpillar
Drop Out of Cap and Trade Alliance |
By Ed Carson |
Tue., Feb. 16, '10
2:36 PM ET |
Sign of death of Global Warming! No longer
fearing blackmail and cohersion over Global Warming Conoco-Phillips, British
Petroleum, and Caterpillar are the first corporations to flee Obama carbon-dioxide tax
scheme.
Here's
another sign of the shifting political winds on global warming: ConocoPhillips (COP), BP (BP) and Caterpillar (CAT) have decided not to renew their
membership in the U.S. Climate Action Partnership, a broad alliance of
corporations and environmentalists supporting cap-and-trade legislation.
“House
climate legislation and Senate proposals to date have disadvantaged the
transportation sector and its consumers, left domestic refineries unfairly
penalized versus international competition, and ignored the critical role that
natural gas can play in reducing GHG emissions,” Conoco
CEO Jim Mulva said in a statement.
When
President Obama swept into office with huge Democratic majorities in Congress,
many corporations felt they needed to get on board to try to influence the legislation.
But cap-and-trade has stalled in the Senate, the