Wednesday, February 17, 2010

Companies Bailing Out of Global Warming Lobbying Groups

Three big companies quit an influential lobbying group that had focused on shaping climate-change legislation, in the latest sign that support for an ambitious bill is melting away.

BP PLC and two other major firms quit a lobbying group focused on shaping global-warming policy.

ConocoPhillips and heavy-equipment maker Caterpillar Inc. said Tuesday they won't renew their membership in the three-year-old U.S. Climate Action Partnership, a broad business-environmental coalition that had been instrumental in building support in Washington for capping emissions of greenhouse gases.

The move comes as debate over climate change intensifies and concerns mount about the cost of capping greenhouse-gas emissions.

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