HOUSTON, Feb. 17 (UPI) -- U.S. energy company ConocoPhillips announced it was pulling out of the U.S. Climate Action Partnership because of the disadvantages to competition.
U.S. President Barack Obama has pushed for regulations on carbon emissions while U.S. lawmakers deliberate over a cap-and-trade bill. Lawmakers have been unable to make progress on environmental bills, however, while working on healthcare reform and the sputtering U.S. job market.
Jim Mulva, the chairman and chief executive at ConocoPhillips, announced his company would pull out of the U.S. Climate Action Partnership to better focus on natural gas and consumer opportunities.
"House (of Representatives) climate legislation and Senate proposals to date have disadvantaged the transportation sector and its consumers, left domestic refineries unfairly penalized versus international competition and ignored the critical role that natural gas can play in reducing greenhouse gas emissions," he said in a news release.
The USCAP, formed in 2007, is a consortium of businesses and environmental groups that joined forces to persuade Washington to act quickly to develop laws to reduce greenhouse gas emissions.
"We believe greater attention and resources need to be dedicated to reversing these missed opportunities and our actions today are part of that effort," Mulva said.
