"Regardless of how the allowances [for carbon dioxide emissions] were distributed," the CBO report states, "most of the cost of meeting a cap on CO2emissions would be borne by consumers who would face persistently higher prices for products such as electricity and gasoline."

"Capping U.S. emissions will accomplish little while hurting the poor and many of the industries upon which Caterpillar has depended for sales," said Ridenour. "When Caterpillar President James Owens has presided over the destruction of the oil, mining, timber and agricultural industries, what product will it have to sell then? Emissions credits? This is one of the questions stockholders should ask him when they meet tomorrow."

To read what others are saying about Caterpillar's participation in USCAP, including representatives from the mining, forestry and construction industries, as well as from policy groups, go to:www.nationalcenter.org/Caterpillar_Commentary.pdf.

The National Center for Public Policy Research, founded in 1982, is a non-partisan, non-profit educational foundation based in Washington, D.C.

SOURCE National Center for Public Policy Research

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