WASHINGTON, June 12 /PRNewswire-USNewswire/ -- On the eve of the Caterpillar Corporation's stockholders meeting in Chicago , 70+ groups and companies have sent a letter to Caterpillar, Inc. CEO Jim Owens urging him to immediately withdraw Caterpillar from the United States Climate Action Partnership (USCAP). USCAP is a coalition of companies and environmental groups seeking to establish a cap-and-trade system for carbon emissions.

The signatories to the letter note that capping carbon emissions, as advocated by USCAP, would harm two groups disproportionately: The poor and Caterpillar stockholders.

"Caps on carbon emissions will force energy companies to cut production, ultimately hurting Caterpillar's bottom line. They will also result in higher energy prices, hurting the poor, " said David Ridenour , Vice President of The National Center for Public Policy Research, the organization that spearheaded the letter. "I'm tempted to say that Caterpillar has something against the poor, but it must actually love them. Why else would Caterpillar be seeking to increase the poors' ranks by adding its own employees and stockholders?"

Among the signers of the letter are former U.S. Attorney General Edwin Meese , III and former U.S. Senator Malcolm Wallop (R-WY).

The letter is also signed by representatives of the mining, ranching, forestry, construction and agricultural industries - industries upon which Caterpillar depends for sales. Among them are Murray Energy Corporation, Jicarilla Mining District, Griffith Lumber Company, Korman Ranch, Jerrell's Excavating, PSOMAS (engineering consulting firm), Red River Coal Company and Ontario Hardwood Company.