Conoco, BP, Caterpillar Drop Out Of Cap-And-Trade Alliance

IBD's Capital Hill ^ | 2/16/2010 | Ed Carson

[Slyscribe]

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

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Might as well cut to the chase and show exactly what sort of political alliances GE has made over the years...

General Electric Funds Hitler

[TChris]

That's quite a tiresome lack of logic there, TChris.

Take a closer look at what the companies actually did and said. I do NOT think they were gunning for Cap-and-Trade, else why make this announcement? If they want C&T, why aren't they supporting it now?

They were clearly doing everything they could to put themselves in a position to have as much influence as possible in the process. Being in the room and on the committee lets you have input, but screaming and fighting usually does not.

These companies are not fascist traitors, but pragmatic businesses who were working on damage control.

There are enemies of capitalism out there, but Conoco, BP and Caterpillar are not them.

[steelyourfaith]

 

Beam me to Planet Gore !

[perfect_rovian_storm]

I’ll give you that they aren’t GE, but I don’t buy that they are innocent victims just looking out for themselves either.

They did a gutless thing. Instead of using money to educate or advocate for sensible policies, they acquiesced and sold both themselves and the American people down the river. They got into bed with the very thugs that were looking to destroy them.

It’s nice that some have awakened from their Kool-Aid-Induced coma, but pardon me if I don’t congratulate them for it.