According to the National Center for Public Policy Research, representatives from the Project 21 activist group were confronting the company to find out why it had opted to join USCAP, which it said “lobbies for energy restrictions on the US economy that would hurt both low-income individuals and Caterpillar customers”

Also, because Caterpillar is lobbying for a “cap-and-trade” system, the NCPPR noted it is essentially turning its back on its largest customers, including the coal industry.

“Caterpillar's participation in the United States Climate Action Partnership is an example of both corporate financial and social irresponsibility,” Project 21 fellow Deneen Borelli said.

“Financially, cap-and-trade regulations will harm the mining industry – a key customer of Caterpillar's products – thereby hurting future profits and shareholders' interests.”

One operator against Caterpillar’s move is Robert E Murray of Murray Energy Corporation.

“Caterpillar has joined with some of the most radical environmentalists who have been enemies of mining, including coal, for decades,” Murray said.

“…As a result of this, I sent [Caterpillar CEO Jim Owens] a letter a couple of months ago telling him that Murray Energy Corporation will no longer do business with Caterpillar.

“This will result in the loss of millions of dollars in business to Caterpillar.”

More than 70 other organisations for public policy as well as companies affected by Caterpillar’s decision have delivered a letter to company chief Jim Owens asking him to withdraw the company’s membership in the USCAP.

In a release provided to International Longwall News Monday, Caterpillar provided comments it made at a National Press Club gathering on the topic, expressing that its impetus for the move was based on its desire to “develop a market-driven policy framework on climate change”

“Caterpillar believes in the need for a market-based approach to the aggressive development of current and future clean technologies that reduce emissions and sustain the environment,” Owens said.

“As a global manufacturer, we’re committed to being part of the process of finding policy solutions that meet the needs of our customers, including those currently involved in energy production.

“Achieving energy independence for our country will require innovation that leads to new energy sources but also new technologies to improve the use of existing abundant resources such as coal.”

Owens added that the use of “clean” fuel, including “clean coal” technology, is critical to the structure of any climate change policy.

“These technologies, coupled with incentives for the development of new, breakthrough approaches will yield increased sustainability and economic opportunity,” he said.

Furthermore, emissions reduction can increase economic opportunities, more so than risks, for the industry and economy as a whole, he said.

“The goals of reduced emissions and economic growth are not mutually exclusive,” Owens said.

“As the world’s largest maker of construction and mining equipment and a technology leader, one of the reasons that Caterpillar is pleased to have a seat at this table is to focus on market-based solutions to issues that impact manufacturers and key customer groups, especially coal.”