Climate coalition downplays departures of oil companies, Caterpillar

The U.S. Climate Action Partnership on Tuesday sought to downplay decisions by two major oil companies – ConocoPhillips and BP – and heavy equipment maker Caterpillar to leave the coalition that is pressing Congress to approve cap-and-trade legislation.

“USCAP is a CEO-led organization whose membership changes periodically. In fact, over the past seven months, USCAP has added three new corporate members – most recently in late October – and expects to add new members in the coming months,” the coalition said in a press release on the departures.

USCAP also said, “All three companies have provided invaluable assistance, expertise and significant commitments of time and resources in USCAP’s efforts to advance comprehensive climate and energy legislation.”

The decisions leave Shell as the only oil company remaining with the coalition, which brings together large corporations and environmental groups.

Oil companies, especially refiners, have several concerns with the various Capitol Hill proposals.

Industry trade groups including the American Petroleum Institute and National Petrochemical and Refiners Association have urged lawmakers to reject climate legislation the House approved last year, and a similar bill approved by the Senate Environment and Public Works Committee.

They have argued in particular than the bills would harm refiners by holding them accountable for emissions from the use of their fuels in transportation, while providing what they call an insufficient number of free emissions allowances to the sector.