Caterpillar reverses its stand on the Obama Energy Tax (via Steve Milloy):
Scaredy-CAT: USCAP member switches on W-M
Energy & Environment News reports that heavy-equipment manufacturer Caterpillar now opposes Waxman-Markey:
“We cannot endorse this bill in its current form,” Caterpillar Chairman and CEO Jim Owens wrote in a letter to House Speaker Nancy Pelosi (D-Calif.) yesterday. “Despite our efforts to improve portions of the bill, specific provisions relating to non-road equipment, black carbon, border measures and other critical issues remain problematic.”
Owens was a fool to ever think that global warming legislation would work for his company.
BTW, Greenpeace also now opposes W-M because it
…has been so heavily influenced by the coal and oil industries…